Embraer releases first quarter 2015 results
Embraer releases first quarter 2015 results ...
São José dos Campos, Brazil, May 2015 - (BM&FBOVESPA: EMBR3, NYSE: ERJ). The Company's operating and financial information is presented, except where otherwise stated, on a consolidated basis in United States dollars (US$) in accordance with IFRS.
The financial data presented in this document as of and for the quarters ended March 31, 2014 (1Q14), December 31, 2014 (4Q14) and March 31, 2015 (1Q15), are derived from the unaudited financial statements, except where otherwise stated.
HIGHLIGHTS
- In the first quarter of 2015 (1Q15), Embraer delivered 20 commercial and 12 executive (10 light and 2 large) jets;
- The Company’s firm order backlog ended the quarter at US$ 20.4 billion, compared to US$ 19.2 billion at the end of 1Q14 and $20.9 billion in backlog at the end of 2014;
- As a result of aircraft deliveries, coupled with revenues from the Company’s Defense & Security business, 1Q15 revenues were US$ 1,055.9 million;
- EBIT and EBITDA margins were 7.5% and 14.1%, respectively, in 1Q15, which were higher than the 7.4% EBIT margin and 12.2% EBITDA margin registered in 1Q14;
- 1Q15 Net loss attributable to Embraer Shareholders and Loss per basic ADS totaled US$ (61.7) million and US$ (0.3370), respectively;
- Adjusted Net Income in 1Q15 was $48.3 million, which excludes non-cash deferred income taxes and social contribution;
- Embraer ended 1Q15 with a total cash position of US$ 1,808.0 million and total debt of US$ 2,389.3 million, yielding a net debt position of US$ 581.3 million in the quarter.
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