Embraer Day NY 2009 - Finnancial Presentation
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Transcript of Embraer Day NY 2009 - Finnancial Presentation
![Page 1: Embraer Day NY 2009 - Finnancial Presentation](https://reader034.fdocuments.in/reader034/viewer/2022052602/559c5c411a28ab606e8b4843/html5/thumbnails/1.jpg)
2008 Financial Overview2008 Financial OverviewLuizLuiz Carlos Carlos AguiarAguiar
EVP Finance & CFOEVP Finance & CFO
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Financial ResultsFinancial Results
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Jet DeliveriesJet Deliveries
Highest deliveries in a year in the Company’s history, and consistent with delivery guidance.
Highest deliveries in a year in the Company’s history, and consistent with delivery guidance.
130
169
202 + 2
2006 2007 2008
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Net Revenue by SegmentNet Revenue by Segment
2007 2008
Executive
Aviation
14%
Aviation
Services
9%
Others
2%
Commercial
Aviation
67%Defense and
Government
8%
Others
3%Aviation
Services
10%
Executive
Aviation
16%
Defense and
Government
7%
Commercial
Aviation
64%
Diversification of revenues reduces the exposure to different business cycles.
Diversification of revenues reduces the exposure to different business cycles.
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Net Revenue by MarketNet Revenue by Market
2007 2008
Risk mitigation of geographical exposure. Diversification!Risk mitigation of geographical exposure. Diversification!
Others
8%Asia
Pacific
6%
Europe
24%
Latin
America
12%
Brazil
4%
North
America
46%
Europe
18%
Latin
America
10%
Brazil
4%
North
America
43%
Asia Pacific
18%
Others
7%
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Net RevenueNet Revenue
US$ Million
3,760
5,2456,335
21.2%22.0%25.3%
2006 2007 2008
Net Revenues Gross Margin
Stabilization trend on Gross Margin. Stabilization trend on Gross Margin.
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407328
608
10.8%8.3%
9.6%
2006 2007 2008
EBITDA EBITDA Margin
EBITDAEBITDA
US$ Million
Recovery process of EBITDA Margin and productivity gains. Recovery process of EBITDA Margin and productivity gains.
6.3%
105
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Net IncomeNet Income
US$ Million
Operational hedge losses impact.Operational hedge losses impact.
389
489
390
10.4%6.1%
9.3%
2006 2007 2008
Net Income Net Margin
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9
US$ Million
Net CashNet Cash
*Total cash do not include a US$ 500 MM credit facility.*Total cash do not include a US$ 500 MM credit facility.
416
740
376
1,765
2,4932,202
2006 2007 2008
Net Cash (Debt) Total Cash*
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US$ Million
DividendsDividends
151
249
127
39.0%
50.8%
32.7%
2006 2007 2008
Dividends Pay-Out Ratio
Aggressive dividends distribution policy compared to industry.Aggressive dividends distribution policy compared to industry.
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March 16, 2009
723,665,044 Voting Shares*723,665,044 Voting Shares*
* Does not include16.8 million shares held on treasury.
THORNBURG
INVESTMENT
5.2%
OPPENHEIMER
FUND'S
6.2%
FEDERAL
GOVERNMENT
0.3%
BOVESPA
OTHERS
20.9%
BNDESPAR
5.2%
PREVI
14.2%NYSE OTHERS
28.5%
JANUS CAPITAL
6.4%
BARCLAYS
5.1%
BOZANO GROUP
8.3%
Ownership StructureOwnership Structure
BOVESPA
48.5%
NYSE
51.5%
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US$ Billion
Order BacklogOrder Backlog
14.8
18.820.9
2006 2007 2008
Highest level in the Company’s history at year end.Highest level in the Company’s history at year end.
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Guidance Guidance
2008 / 20092008 / 2009
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2008 Guidance X Effective2008 Guidance X Effective
• Deliveries: 195 to 200 aircraft + 10 Phenom
We delivered: 202 aircraft + 2 Phenom
• Revenue: US$ 6.5 bi.
We delivered: US$ 6.4 bi.
• EBIT Margin: 8% to 9%
We delivered: 8.5%
• Investments: R&D: US$ 230 mi. / PP&E: US$ 270 mi.
We delivered: US$ 197 mi. / US$ 234 mi.
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Revenues (US$ billion)Revenues (US$ billion)
2.52.1
3.4 3.8 3.8
5.2
6.45.5
2002 2003 2004 2005 2006 2007 2008 2009
*
* Estimate
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Deliveries (# a/c)Deliveries (# a/c)
Previous: 270 aircraft (125 Commercial Jets + 35 Legacy 600 and Lineage 1000 + 110 Phenom)
Revised: 242 aircraft
(115 Commercial Jets + 17 Legacy 600 and Lineage 1000 + 110 Phenom)
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19%
12%
16%
14%
9%
7%
10%8.5%
2002 2003 2004 2005 2006 2007 2008 2009
EBIT MarginEBIT Margin
*
5%
*
* Estimate
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Investor RelationsInvestor RelationsPhone: +55 12 3927 4404Phone: +55 12 3927 4404
[email protected]@embraer.com.br
www.embraer.comwww.embraer.com