SÃO PAULO, Brazil --- Embraer delivered 33 commercial jets and 36 executive jets (24 light / 12 large) in 4Q18, and in 2018 delivered 90 commercial jets and 91 executive jets (64 light / 27 large);
The Company’s firm order backlog increased to US$ 16.3 billion at the end of 4Q18, including contracts of the Services & Support segment, up from the US$ 13.6 billion reported at the end of 3Q18;
Revenues in 4Q18 were US$ 1,670.9 million and for fiscal year 2018 were US$ 5,071.1 million, in line with the Company’s revised outlook of US$ 5.1 billion disclosed on January 16, 2019;
Adjusted EBIT and adjusted EBITDA excluding special items were US$ 42.5 million and US$ 108.1 million, respectively, in 4Q18, yielding adjusted EBIT margin of 2.5% and adjusted EBITDA margin of 6.5%. Adjusted EBIT and adjusted EBITDA exclude a US$ 61.3 million special item in 4Q18 related to an impairment in the Executive Jets segment;
For 2018, adjusted EBIT and adjusted EBITDA were US$ 223.8 million and US$ 473.7 million, respectively, excluding US$ 188.5 million in total special items. The Company’s 2018 adjusted EBIT margin was 4.4% and adjusted EBITDA margin was 9.3%, below the initial outlook published in early 2018 but in line with the updated guidance published in mid-January 2019;
4Q18 Net loss attributable to Embraer shareholders and Loss per ADS were US$ (18.1) million and US$ (0.10), respectively. Adjusted net loss (excluding deferred income tax and social contribution and special items) for 4Q18 was US$ (6.6) million, with Adjusted loss per ADS of US$ (0.04). Embraer reported adjusted net loss in 2018 of US$ (54.2) million, for an adjusted loss per ADS of US$ (0.30);
Embraer generated Free cash flow of US$ 422.0 million in 4Q18, finishing 2018 with an adjusted free cash flow usage of US$ 127.5 million, slightly better than the updated outlook from mid-January. The Company finished the year with total cash of US$ 3,207.8 million and total debt of US$ 3,647.7 million, yielding net debt of US$ 439.9 million versus net debt of US$880.5 million at the end of 3Q18;
The Company reaffirms all aspects of its 2019 guidance disclosed to the market on January 16, 2019.
Click here for the full statement, on the Embraer website.