29-Oct-2010 11:20 AM

Embraer EBIT up 9% in 3Q2010, upwardly revises FY2010 guidance

Embraer revenue down 16.3% - financial highlights for the three months ended 30-Sep-2010:

  • Revenue: USD1,043 million, -16.3% year-on-year;
    • Commercial Aviation: USD603.0 million, -26.8%;
    • Aviation Services: USD129.7 million, +2.0%;
  • EBIT: USD68.0 million, +8.5%;
  • EBITDA: USD89.9 million, +12.2%;
  • Net profit: USD57.7 million, -41.4%;
  • Operating cash (out)flow: (USD38.5 million), compared with a positive cash flow of USD39.6 million in p-c-p;
  • Total assets: USD8,246 million, +2.5% when compared with the period ended 30-Jun-2010;
  • Cash and cash equivalents: USD1,044 million, -6.3% when compared with the period ended 30-Jun-2010;
  • Total liabilities: USD5,642.0 million, +2.0% when compared with the period ended 30-Jun-2010;
  • Revised 2010 guidance:
    • EBIT: Revised from USD340 million to USD380 million;
    • EBIT margin: From 6.5% to 7.25%;
    • EBITDA: From USD420 million to USD460 million;
    • EBITDA margin: from 8% to 8.75%. [more]

Embraer: “Throughout 2010 the company has continued to make investments to improve the efficiency of all of its processes and has been able to obtain concrete results which have positively impacted the gross and operating margins. As this continues to take place through the second semester of 2010, Embraer believes it is well positioned to obtain a stronger operating margin for the year and, consequently, is revising its annual EBIT and EBIT margin guidance to USD380 million and 7.25%, respectively, and its annual EBITDA and EBITDA margin projections to USD460 million and 8.75%, respectively,” Company statement. Source: Embraer, 28-Oct-2010.

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