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

Garmin introduces the GFC 600H helicopter flight control system

Garmin has launched the GFCTM 600H flight control system for helicopter owners and operators – a breakthrough in cost-effective technology that reduces pilot workload and improves mission effectiveness.

IATA: Sub-Saharan Africa continued to make strong progress on safety

The International Air Transport Association (IATA) released data for the 2017 safety performance of the commercial airline industry showing continued strong improvements in safety.

Ethiopian becomes Africa’s first A350 full-flight simulator operator

Ethiopian Airlines has achieved yet another milestone, becoming the first A350 XWB Simulator Operator in Africa and among the few in the world.

Swaziland seeks to diversify network through subsidised ops

Following the collapse of the Swazi Airways venture before it ever even launched flights, the Swazi government is now courting South African carriers over their interest in connecting Manzini King Mswati III Int'l to various cities

Algerian minister confirms bids submitted re cargo market tender

Algerian Minister of Public Works and Transport, Abdelghani Zaalane, has confirmed that four bids have been submitted to government regarding the proposed liberalisation of the country's air cargo market, reports ch-aviation.

AHRLAC based Bronco II launched

The newly created company Bronco Combat Systems (BCS) USA, announced today the launch of the Bronco II aircraft, which is based on Paramount Group's AHRLAC aircraft (Advanced High-Performance Reconnaissance Light Aircraft).

Aviation Africa SK18418
See us at
Aviation Africa BT18418Global Aerospace BT010518