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THIRD QUARTER 2012
RESULTS IN IFRS
October 24, 2012
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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Forward-Looking Statement
This presentation may contain forward-looking statements, projections and estimates regarding circumstances or
events yet to take place, including, but not limited to, those statements relating to guidance. These forward-looking
statements are based largely on current expectations, forecasts on future events and industry and financial trends
that affect Embraer’s businesses. These statements are subject to risks, uncertainties and assumptions that
include, among others: general economic, political and trade conditions, both in Brazil and in those markets where
Embraer does business; management’s expectations and estimates concerning the company’s future financial
performance; plans and objectives of our management; financing plans and programs, and the effects of
competition; industry trends and growth opportunities; inflation and fluctuations in exchange rates; the company’s
investment plans; Embraer’s operating efficiencies and synergies and its capacity to develop and deliver products
on the dates previously agreed upon; results of operation; business strategies; benefits of new technologies and
existing and future governmental regulations. To obtain further information on factors that may lead to results
different from those forecast by Embraer, please consult the reports Embraer files with the U.S. Securities and
Exchange Commission (SEC) and the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the
factors discussed under “Forward-Looking Statements” and “Risk Factors” in Embraer’s annual report on Form
20−F. The words “believe”, “may”, “will”, “estimate”, “intend”, “continue”, “anticipate”, “expect” and other similar
terms are intended to identify forward-looking statements. Embraer does not undertake any obligation to publish
updates or to revise any forward-looking statements due to new information, future events or any other factors. In
view of the inherent risks and uncertainties, such estimates, events and circumstances may not occur. The actual
results and performance of Embraer could therefore differ substantially from those anticipated in Embraer's
forward-looking statements.
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• Embraer listed for the third consecutive year on the
Dow Jones Sustainability Index.
Corporate Highlights
• Embraer opens two new Centers of
Excellence in Évora, Portugal.
• Embraer is elected by Aon Hewitt/Valor as the
best Brazilian company in people management.
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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• Delivery of the 900th
E-Jet to Kenya Airways.
• Delivery of 27 E-Jets in 3Q12.
• Conviasa signs a deal for up to 20 E190 jets
and takes delivery of its first E190.
Highlights
• Embraer welcomes three new E-Jets operators:
• LOI signed to support Chautauqua’s restructuring
of outstanding financing arrangements.
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• Delivery of 13 executive jets in 3Q12 (11 light jets and 2 large jets).
Highlights
• Embraer breaks ground for new
Executive Jet Service Center in Brazil.
• Embraer Executive Jets wins acclaim for product
support from Aviation International News (AIN) and
Professional Pilot magazines.
• Embraer Executive Jets launches
Legacy 450 fabrication.
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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• Defense and Security 3Q12 revenues increased 37% compared to 3Q11.
Highlights
• Delivery of the first AEW&C aircraft to India.
• Brazilian Army chooses Savis and Orbisat
consortium for Sisfron.
• Brazilian Air Force and Embraer Defense and Security
conclude the KC-390´s preliminary design review.
• Embraer Defense and Security to supply logistics
support to Brazilian Air Force aircraft.
• Delivery of the first four A-29 Super Tucano to
Indonesian Air Force and the first to Mauritania.
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1,4051,364
2,025
1,156
1,717
3Q11 4Q11 1Q12 2Q12 3Q12
259
189
293
232266
3Q11 4Q11 1Q12 2Q12 3Q12
167149
603
152
261
3Q11 4Q11 1Q12 2Q12 3Q12
9569961,078
760
1,176
3Q11 4Q11 1Q12 2Q12 3Q12
Revenues by Segment – 2012 Outlook
Commercial Aviation: US$ 3.70 – 3.85 Billion
Executive Aviation: US$ 1.10 – 1.30 Billion Defense and Security: US$ 900 – 950 Million
Embraer: US$ 5.8 – 6.2 Billion
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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Revenues by Segment
Commercial Aviation Executive Aviation Others Defense and Security
Net Revenues
US$ Billion 5.36 5.80 – 6.20 5.50 5.80 4.28
69%61% 64% 67% 63%
17%23% 19% 14% 20%
12% 15% 15% 18% 15%
2% 1% 2% 1% 2%
2009 2010 2011 YTD2012 EST2012
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16.0 15.4 14.712.9 12.4
3Q11 4Q11 1Q12 2Q12 3Q12
Firm Backlog
US$ Billion
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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Net Revenues and Gross Margin
US$ Million R$ Million
Net Revenues Gross Margin
1,364
2,025
1,156
1,7171,405
21.2%22.5%
23.2% 23.6%25.3%
3Q11 4Q11 1Q12 2Q12 3Q12
2,266
3,667
2,049
3,3852,850
21.2%22.5% 23.2% 23.6%
25.3%
3Q11 4Q11 1Q12 2Q12 3Q12
YTD 2012:
2012 Outlook:
US$ 4.3 billion
US$ 5.8 – 6.2 billion Net Revenues
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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167205 192
234
113
129126
148120
225
3Q11 4Q11 1Q12 2Q12 3Q12
103 114 109 119
6972 71
75
59
111
3Q11 4Q11 1Q12 2Q12 3Q12
SG&A Expenses
280
334 172
186 194
170
382
345
Selling Expenses G&A Expenses
180 318
US$ Million R$ Million
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10.2%
42
Income from Operations
EBIT EBIT Margin
US$ Million R$ Million
YTD 2012:
2012 Outlook:
US$ 384 million / 9.0%
US$ 520 – 590 million / 9.0% – 9.5% EBIT Margin
10.2%
85
Without Chautauqua non-recurring event
(15)
153
390
205212
7.2%
11.5%
7.5%
-0.4%
9.4%
3Q11 4Q11 1Q12 2Q12 3Q12
(6)
86
197
124101
9.1%
-0.3%
7.4%
11.5%
7.2%
3Q11 4Q11 1Q12 2Q12 3Q12
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188
59
148
265
166
13.8%
2.9%
12.8%
15.4%
11.8%
3Q11 4Q11 1Q12 2Q12 3Q12
EBITDA
EBITDA EBITDA Margin
US$ Million R$ Million
14.9%
85
14.9%
42
Without Chautauqua non-recurring event
311
101
264
524
337
13.7%
2.8%
12.9%
15.5%
11.8%
3Q11 4Q11 1Q12 2Q12 3Q12
YTD 2012:
2012 Outlook:
US$ 579 million / 13.5%
US$ 720 – 840 million / 12.5% – 13.5% EBITDA Margin
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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Net Margin
Net Income
Net Income
US$ Million R$ Million
* Reflects re-calculation of Company’s income tax base
* * * *
2
-92
105
55 650.1%
-4.5%
9.1%
3.2%4.6%
3Q11 4Q11 1Q12 2Q12 3Q12
133124
188
-172
0
4.6%3.7%
9.2%
-4.7%
0.0%
3Q11 4Q11 1Q12 2Q12 3Q12
This information is the property of Embraer and cannot be used or reproduced without written consent. Investor Relations
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Inventories / Free Cash Flow
Free Cash Flow Inventories
US$ Million US$ Million
Free cash flow
Additions to PP&E
Net cash generated (used) by operating activities*
Additions to Intangible
* Net of Financial assets adjustment
2,872
2,288
2,6522,530 2,585
3Q11 4Q11 1Q12 2Q12 3Q12
20
155
(30)(77)
(40)
(76) (50)
414
(70)(73)
(60) (60)
(65)(55) (58)
(112)
277
(174)
25
(138)
3Q11 4Q11 1Q12 2Q12 3Q12
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176132
100
350
200
52
RESEARCH DEVELOPMENT CAPEX
Investments
2012 Outlook YTD 2012
US$ Million
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Indebtedness Profile / Net Cash
Long-term Short-term
Loans Average Maturity (Years)
Indebtedness Maturity
US$ 2.08 Billion Total Debt 3Q12 Total Cash 3Q12 US$ 2.21 Billion
Net Cash
US$ Million
193
446
302 290
123
3Q11 4Q11 1Q12 2Q12 3Q12
74% 78%
26%15%
74%85% 83%
26% 22% 17%
4.54.8
4.2
6.1 6.0
3Q11 4Q11 1Q12 2Q12 3Q12
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Investor Relations
Phone: +55 12 3927 4404 [email protected]
www.embraer.com