Embraer S.a. · BMFBOVESPA:EMBJ3
Embraer — Q4 2020 Earnings Presentation
23 slides from Embraer's earnings presentation, Feb 14, 2021
Slide 1: Investor Relations
1 INVESTOR RELATIONS This information is property of Embraer and cannot be used or reproduced without written permission.
Slide 2: Forward-looking statements
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
Slide 3: 2020 Recap
2020 RECAP LEAN EMPLOYEE ORGANIZATION HEALTH & SAFETY This information is property of Embraer and cannot be used or reproduced without written permission. BUSINESS PLAN CASH UPDATE PRESERVATION RECAPTURE SYNERGIES 3 INVESTOR RELATIONS
Slide 4: 4Q20 & FY2020 Financial Results
4 INVESTOR RELATIONS 4Q20 & FY2020 FINANCIAL RESULTS This information is property of Embraer and cannot be used or reproduced without written permission.
Slide 5: Financial Highlights 2020
FINANCIAL HIGHLIGHTS 2020 COVID-19 FINANCIAL IMPACT HIGHLY RIGHTSIZING IMPLEMENTED CONCENTRATED ON COMMERCIAL AVIATION (FULLY CAPTURED IN 2021) REINTEGRATION OF COMMERCIAL AVIATION ON GOING WORKING CAPITAL OPTIMIZATION PLAN This information is property of Embraer and cannot be used or reproduced wit
Slide 6: Commercial Aviation
COMMERCIAL AVIATION DELIVERY OF 44 E-JETS IN 2020, INCLUDING THE 1,600TH E-JET (190-E2) TO HELVETIC AIRWAYS DELIVERIES TO IMPORTANT CUSTOMERS WORLDWIDE, SUCH AS AERCAP, AIR FRANCE, AMERICAN, AZUL, UNITED, ETC This information is property of Embraer and cannot be used or reproduced without written pe
Slide 7: Executive Aviation
EXECUTIVE AVIATION DELIVERY OF 43 JETS IN 4Q20 AND 86 JETS IN 2020, WITH NO WHITE TAIL CARRY OVER INTO 2021 STRONG OPERATING MARGINS AND CASH GENERATION, WITH A SOLID BACKLOG AND IMPROVING SALES PHENOM 300E WAS THE WORLD’S BEST-SELLING This information is property of Embraer and cannot be used or re
Slide 8: Defense & Security
DEFENSE & SECURITY BRAZILIAN NAVY SIGNED CONTRACT FOR FOUR SHIPS, WITH DELIVERIES BETWEEN 2025 AND 2028 HUNGARY SIGNED CONTRACT FOR TWO C-390 MILLENNIUM AIRLIFTERS DELIVERY OF 16 A-29 SUPER TUCANO AND This information is property of Embraer and cannot be used or reproduced without written permission
Slide 9: Services & Support
SERVICES & SUPPORT COMPLETED 11 CONVERSIONS OF A LEGACY 450 TO A PRAETOR 500 IN 2020 FIRST E-JET MODIFIED AND CERTIFIED FOR CARGO TRANSPORTATION IN CABINS This information is property of Embraer and cannot be used or reproduced without written permission. OGMA SIGNED A MULTI-BILLION DOLLAR CONTRACT
Slide 10: Financial Results
FINANCIAL RESULTS
Slide 11: Firm Order Backlog
FIRM ORDER BACKLOG US$ Billion BREAKDOWN BY BUSINESS EXECUTIVE AVIATION 8% DEFENSE This information is property of Embraer and cannot be used or reproduced without written permission. & SECURITY 18.3 16.8 25% 16.3 14.4 COMMERCIAL SERVICES & AVIATION SUPPORT 53% 14% 2017 2018 2019 2020 11 INVESTOR RE
Slide 12: Aircraft Deliveries
AIRCRAFT DELIVERIES COMMERCIAL AVIATION EXECUTIVE AVIATION 2019: 89 2020: 44 2019: 109 2020: 86 20 This information is property of Embraer and cannot be used or reproduced without written permission. 23 35 28 15 26 19 26 19 17 20 11 8 12 9 5 5 4 7 6 3 4 4 2 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q
Slide 13: Net Revenues
NET REVENUES US$ Million 2020 BREAKDOWN 2019: 5,463 2020: 3,771 BY BUSINESS DEFENSE & SECURITY EXECUTIVE AVIATION 17% NET REVENUES 29% SERVICES & (2020X2019) SUPPORT 24% -30% COMMERCIAL AVIATION This information is property of Embraer and cannot be used or reproduced without written permission. 30%
Slide 14: SG&A Expenses
SG&A EXPENSES US$ Million 2019: 476 2020: 399 133 116 119 116 108 SG&A EXPENSES 61 101 46 33 94 (2020X2019) 46 88 37 34 -30%* This information is property of Embraer and cannot be used or reproduced without written permission. 35 42 83 70 73 71 72 67 59 46 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 111
Slide 15: Adjusted EBIT
ADJUSTED EBIT US$ Million 2019: (5)|-0.1% 2020: (101)|-2.7% 4.2% -1.8% 1.9% -1.8% 0.2% 1.4% -6.0% 77 -26.2% 9 This information is property of Embraer and cannot be used or reproduced without written permission. 27 4 (15) (21) (45) (141) 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 -3.2% -7.4% -63.7% -5.0
Slide 16: Adjusted EBITDA
ADJUSTED EBITDA US$ Million 2019: 182|3.3% 2020: 82|2.2% 7.9% 10.2% 3.8% 4.9% 3.2% 1.5% -1.1% 146 This information is property of Embraer and cannot be used or reproduced without written permission. 67 66 65 31 18 -22.4% (8) (120) 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 -0.3% 1.5% -41.2% -0.1% 9.4%
Slide 17: Adjusted Net Income
ADJUSTED NET INCOME excludes extraordinary items US$ Million 2019: (218)|-4.0% 2020: (464)|-12.3% (14) (48) (13) (62) (93) (104) (148) -0.7% This information is property of Embraer and cannot be used or reproduced without written permission. (199) -1.0% -4.1% -4.5% -7.5% -16.4% -19.5% -37.0% 1Q19 2Q
Slide 18: Investments
INVESTMENTS US$ Million 2019: 486 2020: 203 171 63 INVESTMENTS (2020X2019) 115 103 97 -60% This information is property of Embraer and cannot be used or reproduced without written permission. 28 43 23 69 108 50 17 45 16 39 9 75 74 72 9 52 34 30 36 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 CAPEX R&D 18
Slide 19: Adjusted Free Cash Flow
ADJUSTED FREE CASH FLOW US$ Million 2019: (182) 2020: (990) STRONG FCF 739 725 GENERATION IN 4Q20 This information is property of Embraer and cannot be used or reproduced without written permission. 2 (257) (472) (567) (665) (677) 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 19 INVESTOR RELATIONS
Slide 20: Liquidity - Strong Cash Position
LIQUIDITY - STRONG CASH POSITION US$ Billion 5.3 5.1 4.9 4.8 4.5 4.4 4.0 3.8 This information is property of Embraer and cannot be used or reproduced without written permission. 2.78 2.75 2.48 2.48 2.50 2.18 2.00 2.18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1.10 1.09 1.35 0.61 1.33 1.80 2.37 1.70 TO
Slide 21: Closing Remarks
21 INVESTOR RELATIONS FRANCISCO GOMES NETO - CEO CLOSING REMARKS This information is property of Embraer and cannot be used or reproduced without written permission.
Slide 22: Embraer Beyond 2020
EMBRAER BEYOND 2020 2020 2021 2022-2025 CRISIS RESPONSE RECOVERY GROWTH SUSTAIN LIQUIDITY & RESTRUCTURING DEFEND AND GROW MARKET SHARE CAPTURE EMBRAER FULL POTENTIAL INCREASE REVENUES AND IMPROVE PROFITABILITY This information is property of Embraer and cannot be used or reproduced without written p
Slide 23: Embraer
€< EMBRAER