EMBRAER EARNINGS RESULTS 4th QUARTER 2023 and FISCAL YEAR 2023

SÃO PAULO, March 18, 2024 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its FOURTH Quarter 2023 AND FISCAL YEAR 2023 Earnings Results.

HIGHLIGHTS

• Embraer delivered 75 jets in 4Q23, of which 25 were commercial aircraft, 49 were executive jets (30 light and 19 medium) and 1 was a military C-390. In 2023, the company delivered a total of 181 jets, of which 64 were commercial aircraft, 115 were executive jets (74 light and 41 medium) and 2 were military C-390. Embraer's deliveries increased 13% year-on-year (yoy) when compared to the 160 jets in 2022. The company continues to face supply chain delays which have negatively impacted 2023 results.

• Firm order backlog ended 4Q23 at US$18.7 billion, the highest number recorded over the past 6 years. Executive and Commercial Aviation registered book-to-bill in excess of 1:1. Meanwhile, Services & Support backlog reached US$3.1 billion - the highest ever registered.

• Revenues totaled US$1,975 million in 4Q23 and US$5,269 million in 2023, in line with company guidance and 16% higher than in 2022. All business units had double digit revenues and volumes growth yoy; Defense which posted 25% growth was the highlight, followed closely by Commercial Aviation with 20%.

• Adjusted EBIT reached US$181.7 million in 4Q23, with adjusted EBIT and EBITDA margins of 9.2% and 12.8%, respectively. In 2023, the company reported adjusted EBIT of US$350.0 million, with adjusted EBIT and EBITDA margins of 6.6% and 10.7%, meeting guidance for the year driven by volume, enterprise and tax efficiencies.

• Adjusted free cash flow w/o EVE (FCF) in 4Q23 was US$684.0 million, and propped full year FCF to US$318.3 million, which surpassed guidance driven by strong sales pre-down payments (PDPs).

• S&P Global Ratings raised Embraer to investment grade (IG) while Moody's upgraded to Ba1 (one notch below IG). Meanwhile, Fitch, which rates the company BB+ (one notch below IG), revised the company´s outlook to positive.

• Guidance for 2024: Commercial Aviation deliveries between 72 and 80 aircraft, and Executive Aviation deliveries between 125 and 135 aircraft. Total company revenues in a US$6.0 to US$6.4 billion range, adjusted EBIT margin between 6.5% and 7.5%, and adjusted free cash flow of US$220 million or higher for the year.

For additional information, please check the full document on our website ri.embraer.com.br

Investor Relations   
Guilherme Paiva, CFA, Patrícia Mc Knight, Viviane Pinheiro, Eliane Fanis and Marcelo Cuperman. 
(+55 11) 3040-6874 
investor.relations@embraer.com.br
ri.embraer.com.br

CONFERENCE CALL INFORMATION 
Embraer will host a conference call to present its 4Q23 Results on:
Monday, Mar 18, 2024

ENGLISH: 08:00 AM (NY Time) / 9:00 AM (SP Time).   
Click here to access the webcast link https://us02web.zoom.us/webinar/register/WN_vXB9c8HeTWymXwYCcMfSpA#/registration  
To participate by phone call:
U.S.: Dial in +1 689 278 1000 or +1 719 359 4580 or +1 929 205 6099 
Brazil: +55 11 4632 2236 or +55 11 4632 2237 or +55 21 3958 7888 
English call id: 873 8323 1534

Cision

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SOURCE Embraer S.A.