in Business & Finance

Embraer delivers third quarter 2016 results

Posted 31 October 2016 · Add Comment

During 3Q16, Embraer delivered 29 commercial jets and 25 executive jets (13 light and 12 large).

The Company’s firm order backlog ended the quarter at US$ 21.4 billion versus US$ 21.9 billion in 2Q16. 

Revenues in 3Q16 grew 17.9% on a year-over-year basis to US$ 1,514.3 million, driven by higher revenues in the Commercial Aviation and Defense & Security segments. 

Consolidated gross margin in 3Q16 was 18.8%, an increase from the 17.5% registered in 3Q15. 

In 3Q16, the Company booked in Other operating income (expense), net an additional US$ 5.5 million loss contingency related to finalization of negotiations related to the U.S. Foreign Corrupt Practices Act (FCPA), and a US$ 118.1 million provision related to costs for the first round of voluntary dismissal. 

Adjusted EBIT and Adjusted EBIT margin in 3Q16, excluding the impacts of the loss contingency and provision listed above, were US$ 94.7 million and 6.3%, respectively. Adjusted EBITDA and Adjusted EBITDA margin in the quarter, excluding these impacts, were US$ 187.3 million and 12.4%, respectively. 

3Q16 Net loss attributable to Embraer Shareholders and Loss per basic ADS totaled US$ (33.7) million and US$ (0.1848), respectively. 

3Q16 Adjusted Net Income, which excludes non-cash deferred income taxes and social contribution largely related to foreign exchange variation on non-monetary assets, as well as the aforementioned non-recurring items, was US$ 79.1 million. Adjusted earnings per basic ADS totalled US$ 0.4337 in 3Q16. 

Embraer announced on October 24, 2016 the terms of the agreements for the resolution of investigations with the U.S. and Brazilian authorities. As part of the settlement, the Company agreed to pay US$ 205.5 million to these authorities. The settlement further provides that as long as the terms of the agreements are fully honoured, no charges will be brought against the company.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Flight for sore eyes

It's not rare to spot an MD-10 aircraft in African skies but there is one unique jet, owned by Orbis that is saving the sight of thousands and offering life-changing training in eye care.

Etihad Airways adds new B787 to Casablanca route

Etihad Airways is to operate its flagship Boeing 787 Dreamliner on the Abu Dhabi – Casablanca route, effective 1 May 2018.

Conference plots the future direction for drones

Unmanned air vehicles and their potential uses throughout Africa were put under the microscope at the Drones East Africa Conference in Nairobi. Githae Mwaniki reports.

Air Austral accedes to Air Madagascar's shareholding

Air Austral has completed its accession to Air Madagascar's share capital, reports ch-aviation.

The ATR 72-600 tours West Africa

From December 11 to 14, an ATR 72-600 in the colours of Air Sénégal will embark on a demonstration tour in three West African countries.

EgyptAir on cloud nine with latest 737-800 delivery

EgyptAir has received its ninth and final Boeing 737-800NGs on a lease deal from Dubai Aerospace Enterprise (DAE) and valued at $864 million. All nine were handed over during in the course of the past year.

Aviation Africa SK18418
See us at
Aviation Africa BT18418