2009 - Second Quarter Results 2009 In Usgaap
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Second Quarter 2009 Second Quarter 2009 Results Results July 31, 2009
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Transcript of 2009 - Second Quarter Results 2009 In Usgaap
Second Quarter 2009 Second Quarter 2009
ResultsResultsJuly 31, 2009
This presentation includes forward-looking statements or statements about events or circumstances which
have not occurred. We have based these forward-looking statements largely on our current expectations
and projections about future events and financial trends affecting our business and our future financial
performance. These forward-looking statements are subject to risks, uncertainties and assumptions,
including, among other things: general economic, political and business conditions, both in Brazil and in our
market. The words “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “expects” and
similar words are intended to identify forward-looking statements. We undertake no obligations to update
publicly or revise any forward-looking statements because of new information, future events or other
factors. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in
this presentation might not occur. Our actual results could differ substantially from those anticipated in our
forward-looking statements.
Forward Forward LookingLooking StatementStatement
SummarySummary
• Embraer launches KC-390 military transport jet program
• Embraer to modernize 12 jets (AF-1 and AF-1A) for the Brazilian Navy
• Embraer confirms seven E-Jets options for KLM Cityhopper
• Embraer sells the third E-Jet to Japan’s Fuji Dream Airlines
• Embraer begins delivery for the Lineage 1000
• Embraer filed Form 20-F Annual Report for the fiscal year ended 2008
• Embraer’s Phenom 100 Executive Jet certified by EASA
• Embraer delivers 1,100th ERJ 145 family and the 100th Super Tucanoaircraft
Results & Results &
PerformancePerformance
5248
59
40
56
2Q08 3Q08 4Q08 1Q09 2Q09
Jet DeliveriesJet Deliveries
(41 + 15)
(34 + 6)
(57 + 2)
Net RevenueNet Revenue
US$ Million
Net Revenue
1,336
1,635
1,154
1,457
1Q08 1Q09 2Q08 2Q09
Gross Margin
20.4%21.9% 23.1%
18.2%
1Q08 1Q09 2Q08 2Q09
SG&A ExpensesSG&A Expenses
US$ Million
106.2 101.891.7
65.8
59.157.6
62.9
36.9
47.4
74.2
2Q08 3Q08 4Q08 1Q09 2Q09
Selling Expenses General and Adm. Expenses
Income from OperationsIncome from Operations
US$ Million
Income from Operations
2749
113
175
1Q08 1Q09 2Q08 2Q09
Margin
3.6%
6.9%
12.0%
2.4%
1Q08 1Q09 2Q08 2Q09
EBITDAEBITDA
US$ Million
EBITDA
4765
129
196
1Q08 1Q09 2Q08 2Q09
EBITDA Margin
4.9%
7.9%
13.5%
4.1%
1Q08 1Q09 2Q08 2Q09
Net IncomeNet Income
US$ Million
Net Income
68
134
85
(23)
1Q08 1Q09 2Q08 2Q09
Net Margin
6.4%
8.2%
4.7%
-2.0%
1Q08 1Q09 2Q08 2Q09
Accounts Receivable and Clients FinancingAccounts Receivable and Clients Financing
US$ Million
401 406 444 470
34 3489 64
382 410
430 477481
430
75
2Q08 3Q08 4Q08 1Q09 2Q09
Accounts Receivable CCF A/c Leasing/Remarketing
InventoriesInventories
US$ Million
2,838 2,925 2,8373,064
2,875
2Q08 3Q08 4Q08 1Q09 2Q09
IndebtednessIndebtedness
Total Debt: US$ 1,817 Million
Loans Average Maturity: 2 years and 1 month
Short
Term
27%
Long
Term
73%
2Q091Q09
Short
Term
49%
Long
Term
51%
1Q09 2Q09
Average Cost in Brazilian Currency (R$) 8.06% p/a 7.99% p/a
Average Cost in Foreign Currency (US$) Libor + 3.08% p/a Libor + 1.80% p/a
Net Cash (Debt)Net Cash (Debt)
US$ Million
524 492
52122
376
2Q08 3Q08 4Q08 1Q09 2Q09
BacklogBacklog
EMBRAER 170/190 Family Order BookEMBRAER 170/190 Family Order Book
714018776111EMBRAER 195
328
209
15
33
Firm
Backlog
5541676794882Total
234897454443EMBRAER 190
120308173135EMBRAER 175
16028491193EMBRAER 170
DeliveriesTotalOptionsFirm Orders
(as per 2nd Quarter, 2009)
Order BacklogOrder Backlog
US$ Billion
20.721.6
20.9
19.7 19.8
2Q08 3Q08 4Q08 1Q09 2Q09
Investor RelationsInvestor RelationsPhone: +55 12 3927 4404Phone: +55 12 3927 4404
[email protected]@embraer.com.br
www.embraer.comwww.embraer.com
