2002* Segundo Encontro Anual Com Analistas E Investidores Mercado De AviaçãO Corporativa
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Transcript of 2002* Segundo Encontro Anual Com Analistas E Investidores Mercado De AviaçãO Corporativa
Analysts & Investors Meeting
Feb 21, 2002
Analysts & Investors Meeting
Feb 21, 2002
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Contents
• Our Forecast Method
• Scenario
• Market Overview
• Legacy in the market
• Legacy Product
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
• Determine External Scenario
Market Forecast Methodology
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
• Determine External Scenario
• Examine Internal Scenario
Market Forecast Methodology
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
• Determine External Scenario
• Evaluate Business Jet Forecasts from Outside Sources (Top Down Analysis)
• Examine Internal Scenario
Market Forecast Methodology
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
• Determine External Scenario
• Perform Customer Focused Research /Survey (Bottom-up
Analysis)
• Evaluate Business Jet Forecasts from Outside Sources (Top Down Analysis)
• Examine Internal Scenario
Market Forecast Methodology
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
• Determine External Scenario
• Analyze Results and Make Forecast for Inclusion in Action Plan
• Perform Customer Focused Research /Survey (Bottom-up
Analysis)
• Evaluate Business Jet Forecasts from Outside Sources (Top Down Analysis)
• Examine Internal Scenario
Market Forecast Methodology
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Scenario OverviewØ Corporate Aviation Market has been strong and robust one
Ø Main drivers
- Fractional/ownership demand/expansion
- Globalization
- Security issues
- New models with more performance and comfort
- Airline service insatisfaction
Ø Corporate Aircraft: tool to leverage business (Arthur Andersen Study @
nbaa.org)
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Scenario Overview
Ø After Sep 11: new security measures, increased interest in business aviation, new
program launches and competitors movements in business expansion
Ø Business aviation historical data demonstrates that this sector has important
participation in economy rebound
Ø Our current sales are better than previously estimated in our business plan.
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Source: AIN
Market share by manufacturerWorldwide Corporate A/C Fleet
Source: Flight International
Forecast for the period of 2000 to 2010
(158 +78 = 236 a/c on average/year)11774(70%)
USA:
MEXICO:
BRASIL:
7,985 (74%)
392 (4%)
469 (4%)
1,219 (11%)
378 (4%)
67 (1%)
204 (2%)
7,716
258
USA: 7,716
Mexico: 355
Brasil: 258
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Total Market Forecast
Market History and 10 years Forecast
840
686742
0
100
200
300
400
500
600
700
800
900
2000 2001 2002 2003 Average 2002-2011
Honeywell
TEAL
RR
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
$3.0 - 5.0M
$11.0 - 13.0M
$5.0 - 7.0M
$8.0 – 8.5M
$13.0 - 22.0M
$22.0 - 31.0M
$ 46 - 50.0M• BBJ• Airbus 319 CJ
• Challenger 604• Falcon 900• G IV-SP• Envoy 7• Falcon FNX
Citation X • Falcon 50 Falcon 2000 • G200 Continental • Horizon
Hawker 800 XP • G100Lear 60 • Citation VII • Sovereign
Ultra/Encore • Excel
$20.3M
• G V-SP• Global Express
$ 40 - 45.0M
Citation Jet • CJ1 • CJ2 • SJ-30 • Premier
Beechjet 400A • Lear 31 • Bravo
Global
Ultra-Long Range
Large
Supermidsize
MidsizeMidlight
Light
Entry
2002Market SegmentationMarket Segmentation
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Supermidsize Segment Forecast
Supermidsize Forecast - TEAL
174 173
138 143158
020406080
100120140160180200
2000 2001 2002 2003 Average 2002-2011
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Large Segment Forecast
Large Segment Forecast – Teal
020406080
100
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011Year
Average: 78 A/C / year
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Source: AIN
Market share by manufacturerProjected Market Share by Manufacturer
Source: Embraer Corporate Jets
Cessna
Raytheon
Embraer (over 240 A/C)
General Dynamics
Bombardier
Dassault
17%17%
17%17%
10%10%10%10%
23%23%23%23%
Forecast for the period of 2000 to 2010
(158 +78 = 236 a/c on average/year)
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Worldwide Aircraft Orders
Current as of Jan 2002
Country Firm Orders Options Total
USA - Executive 34 35 69
USA- Shuttle 32 56 88
Europe- Exec. 1 - 1
Latin America - Exec. 6 3 9
Total 73 94 167
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Fwd Under Belly Tanks3,765 lbs.1,706 kg
Aft Internal Tanks2,734 lbs.1,242 kg.
Each Wing Tank11,403 lbs.5,171 kg.
* Assumed fuel density 6.7lb/US gal (0.803kg/l)
Fuel Capacity - Executive
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Supermidsize – Floor Plan Comparison
10 20 30 40 50ft
m 3 6 9 12 15
Continental
Horizon
Gulfstream 200
Source: Conklin & de Decker’s “The Aircraft Comparator”
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Cabin dimensions (ft.)Width Height Aisle Recess
Continental 7’2“ (2.18m) 6’1” (1.85m)
Horizon 6’7” (2m) 6’0” (1.82m)
Gulfstream 200 7’2” (2.18m) 6’3” (1.9m) 6” (0.15m)
Legacy 6’11”(2.1m) 6’0” (1.83m) 2” (0..05m)
Continental
Horizon
Gulfstream 200
Supermidsize – Cross Section Comparison
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
10 20 30 40 50ft
m 3 6 9 12 15
G IV SP
Falcon 2000
Large – Floor Plan Comparison
Source: Conklin & de Decker’s “The Aircraft Comparator”
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Falcon 2000
Gulfstream IVSP
Cabin dimensions (ft.)
Width Height
Falcon 2000 7’7” (2.3m) 6’2” (1.87m)
G-IV-SP 7’3” (2.2m) 6’2” (1.87m)
Legacy 6’11” (2.1m) 6’0” (1.83m)
Large – Cross Section Comparison
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Second Seating Area
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Best Value
Source: Business and Commercial Aviation May 2001
Aircraft Cabin Volume Baggage Range Price (cu.ft./ m3) (nm) (US $M)
Continental 860/ 24.3 120 / 3.40 3,168 15.3
Horizon 757/ 21.4 110 / 3.11 3,100 16.1
Citation X 508/ 14.3 72 / 2.04 3,062 18.6Gulfstream 200 870/ 24.6 150 / 4.25 3,670 18.7
Falcon 50EX 700/ 19.8 115 / 3.25 3,366 18.8
Legacy 1,410/ 39.9 240/ 6.79 3,200 20.3Falcon 2000 1,024/ 28.9 134 / 3.79 3,213 21.1Challenger 604 1,035/ 29.3 115 / 3.25 4,033 23.2
Falcon 900C 1,267/ 35.8 127 / 3.58 4,000 28.7
G-IV-SP 1,525/ 43.1 169 / 4.78 4,105 32.1
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Range - Executive New York Next
Takeoff at ISA +20Mach 0.8085% annual winds10 pax @ 200 lbNBAA reserves
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Range - Executive Next
Takeoff at ISA +20Mach 0.8085% annual winds10 pax @ 200 lbNBAA reserves
São Paulo- Guarulhos
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Range - Executive Next
Takeoff at ISA +20Mach 0.8085% annual winds10 pax @ 200 lbNBAA reserves
Paris
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
(1) 1.42 maintenance labor hrs / flight hr, assumed labor rate @ $65 / hr, 5 year cost, 503 flight hr/y and 1.73 FH/FC
(2) APU use based on 0.75 AH/FH
(3) Power by the Hour –Rolls Royce, On-Condition maintenance
(4) Does not include interior coverage
Direct Operating Costs - Executive
Operating Costs per Flight Hour:
Fuel (325 gal/hr @ $2.40/gal.) $ 780
Airframe Maintenance (includes parts) (4) $ 194 (1)
APU Maintenance $ 17 (2)
Engine Reserve $ 252 (3)
TOTAL per hour costs $ 1,243
Price - Executive Configuration $20,275,000*
Jan 2002 Economic Conditions
THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Corporate Shuttle
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Range - Shuttle
Takeoff at ISA +20Mach 0.7885% annual winds19 pax @ 200 lbNBAA reserves
Dallas
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
(1) 0.71 maintenance labor hrs / flight hr, assumed labor rate @ $65 / hr, 5 year cost, 1,200 flight hr/y and 1.4 FH/FC
(2) APU use based on 1.0 AH/FH
(3) Power by the Hour –Rolls Royce, On-Condition maintenance
(4) Does not include interior coverage
Direct Operating Costs - Executive
Operating Costs per Flight Hour:
Fuel (310 gal/hr @ $2.40/gal.) $ 744
Airframe Maintenance (includes parts) (4) $ 151 (1)
APU Maintenance $ 15 (2)
Engine Reserve $ 252 (3)
TOTAL per hour costs $ 1,162
* January 2001 Economic Conditions
THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Price - Corporate Shuttle $15,650,000* Jan 2002 Economic Conditions
THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
*
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THE INFORMATION CONTAINED HEREIN IS THE PROPERTY OF EMBRAER S.A. AND IT SHALL NOT BE COPIED OR USED IN ANY MANNER EXCEPT WITH EMBRAER’S WRITTEN CONSENT.
Legacy Main FeaturesBuilt to operate within typical airline schedule of 2,500 – 3,000 hours per year:
−Minimum downtime for inspections
−Ease of maintenance
−High reliability
The largest Baggage volume in its class
Fully integrated Honeywell Primus 1000 avionics system
Powerplant: Rolls-Royce AE 3007 family
Sundstrand APU for complete operational independence
Cockpit panel allows fast access, lowering maintenance costs
Large cabin with several options for pax comfort
Derived from a successful platform which family transported over 15 million people in the world
The Business Jet for the New EconomyThe Business Jet for the New Economy