Embraer releases Second Quarter 2013 Results

In the second quarter of 2013 (2Q13), Embraer delivered 22 commercial and 29 executive (23 light and 6 large) jets;

– The Company’s firm order backlog grew to US$ 17.1 billion, reaching its highest level since the third quarter of 2009, mainly as a result of significant orders in the Commercial aviation segment;

– As a result of aircraft deliveries, coupled with revenues from the Company’s growing Defense & Security business, 2Q13 Revenues reached US$ 1,557.0 million and gross margin was 23.1% for the period;

 – EBIT and EBITDA  margins were 8.7% and 13.1% respectively, in 2Q13;

– Positive operating cash generation of US$ 412.8 million in 2Q13;

– 2Q13 Net income (loss) attributable to Embraer Shareholders and Earnings (loss) per ADS basic totaled negative US$ 5.3 million and negative US$ 0.0291, respectively, primarily as a result of Deferred income taxes generated by the appreciation of the US Dollar during the period, which negatively impacted 2Q13 Net income. Therefore, 2Q13 Adjusted Net Income , excluding deferred income taxes, was US$ 91.8 million.