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

Routes Africa 2018 Marketing Awards winners announced

The winners of the Routes Africa 2018 Marketing Awards have been revealed, with Cape Town Air Access the overall winner through to the final at World Routes in Guangzhou.

FIA2018: Rockwell Collins recognised by Airbus as a top performer for avionics support

Rockwell Collins has been honoured with a Customer Services Award for its avionics service by Airbus and its customer airlines at a special ceremony at the Farnborough Air Show held yesterday.

Emirates announces one-off A380 service to Accra

Emirates A380 aircraft will operate a one-off flight to Kotoka International Airport (ACC), Accra, on Tuesday 2nd October, as the global airline joins local authorities in celebrating the opening of the airport’s new Terminal 3.

Ethiopian Airlines Aviation Academy graduates 302 aviation professionals

Ethiopian Airlines Aviation Academy (EAA), ICAO TRAINAIR Plus member and IATA authorised global training center, has graduated 302 aviation professionals at a ceremony held at the Academy’s Commercial and Cabin Crew Training

FIA2018: Embraer and Kenya Airways sign comprehensive spare parts support contract

Embraer and Kenya Airways announced today at the 2018 Farnborough Airshow the signing of a multi-year contract for the Embraer Collaborative Inventory Planning (ECIP) programme.

FIA2018: Uganda Airlines signs for two A330-800neo aircraft with Rolls-Royce’s Trent 7000 engines

Uganda Airlines has signed an MoU for two A330-800neo, the new version of the best-selling A330 widebody airliner, featuring new wings, powered by Rolls-Royce’s latest-generation Trent 7000 engines , new systems and a new Airspace

TAA SK0902311218
See us at
AviationAfrica_BT0607280219GroundHandling BT2205130918AAD2018 BTAirCargoAFA_BT220318210219