Financials EMBRAER S.A.

Equities

EMBR3

BREMBRACNOR4

Aerospace & Defense

Delayed Sao Paulo Other stock markets 03:26:49 2025-01-17 pm EST			5-day change	1st Jan Change
59.69 ^BRL	+8.17%		+4.29%	+6.35%

10:49am	UBS Adjusts Price Target on Embraer to $35 From $32, Keeps Sell Rating	MT
Jan. 16	Embraer Reports Largely Flat Q4 Aircraft Deliveries	MT

Projected Income Statement: EMBRAER S.A.

income-statement-evolution-chart EMBRAER-S-A

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,463	3,771	4,197	4,540	5,226	6,249	7,249	8,077
Change	-	-30.97%	11.3%	8.18%	15.1%	19.57%	16%	11.42%
EBITDA ¹	181.9	82.1	396.8	458.9	552.2	809.8	864.6	1,003
Change	-	-54.87%	383.31%	15.65%	20.33%	46.66%	6.76%	16.02%
EBIT ¹	-5.4	-323.4	201.3	270.3	341.1	580.4	604.8	726.3
Change	-	5,888.89%	-	34.28%	26.21%	70.12%	4.21%	20.09%
Interest Paid ¹	-116.1	-232.7	-199.4	-210.7	-193.3	-52.33	-124.9	-131.5
Earnings before Tax (EBT) ¹	-186.2	-635.2	27.4	-205.8	111.9	485.3	472.9	629.7
Change	-	241.14%	-	-	-	333.78%	-2.55%	33.16%
Net income ¹	-322.3	-731.9	-44.7	-185.4	156.8	382.7	355.3	463.5
Change	-	127.09%	-93.89%	314.77%	-	144%	-7.16%	30.45%
Announcement Date	3/26/20	3/19/21	3/9/22	3/10/23	3/18/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	2,085	633.8	537.2	758.7	1,841	807.3	1,130	958.1	1,301	600.9	1,019	929	1,992	716.7	1,292	1,284	1,947	897	1,494	1,692	2,165	1,208	1,571	1,805	2,470
Change	-	-69.6%	-15.24%	41.23%	142.7%	-56.16%	40.03%	-15.25%	35.82%	-53.82%	69.56%	-8.82%	114.38%	-64.01%	80.31%	-0.61%	51.61%	-53.94%	66.58%	13.26%	27.93%	-44.2%	30.07%	14.89%	36.81%
EBITDA ¹	65.8	64.9	-120.4	-8.2	145.6	18	160.7	79.2	111.4	13.2	124.6	92.9	228.2	10.3	148.9	149.3	249	46.17	190.4	356.6	259.7	110	178	244	325
Change	-	-1.37%	-	-93.19%	-	-87.64%	792.78%	-50.72%	40.66%	-88.15%	843.94%	-25.44%	145.64%	-95.49%	1,345.63%	0.27%	66.79%	-81.46%	312.35%	87.29%	-27.18%	-57.64%	61.82%	37.08%	33.2%
EBIT ¹	4	8.7	-140.5	-45.3	103.6	-29.6	104.7	35.7	60.6	-36.3	66.7	49.9	166.2	-31.6	99.9	100.1	178.1	6.678	138.8	297.5	186.2	41.83	122.7	176.9	232.8
Change	-	117.5%	-	-67.76%	-	-	-	-65.9%	69.75%	-	-	-25.19%	233.07%	-	-	0.2%	77.88%	-96.25%	1,978.43%	114.34%	-37.41%	-77.53%	193.32%	44.16%	31.61%
Charge d'intérêts ¹	-26.9	-36.1	-37.4	-94.6	-64.61	-75.4	-65.5	-51.7	-6.8	-65.6	-38	-84.3	-52.14	-82.4	-76.9	-20.6	-42.88	24.15	-24.4	-24.8	-42.1	-25	-25	-25	-25
Earnings before Tax (EBT) ¹	-96.7	-107.7	-390.2	-148.6	11.4	-88.9	-	-25	57.7	-81	-	-46.1	99.4	-103.2	-0.8	-	163.6	32.51	111.4	244	159.8	25	80	136	195
Change	-	11.38%	262.3%	-61.92%	-	-	-100%	-	-	-	-100%	-	-	-	-99.22%	-100%	-	-80.13%	242.67%	119.03%	-34.5%	-84.36%	220%	70%	43.38%
Net income ¹	-209.8	-292	-315.3	-121.2	-3.3	-89.7	87.9	-45	2.1	-31.7	74.2	-30.2	22.9	-70.8	-18.8	61	188.9	28.21	99.4	178.8	94.82	19	66	114	164
Change	-	39.18%	7.98%	-61.56%	-97.28%	2,618.18%	-	-	-	-	-	-	-	-	-73.45%	-	209.62%	-85.06%	252.3%	79.88%	-46.97%	-79.96%	247.37%	72.73%	43.86%
Announcement Date	3/26/20	6/1/20	8/5/20	11/10/20	3/19/21	4/29/21	8/13/21	11/5/21	3/9/22	4/28/22	8/4/22	11/14/22	3/10/23	5/4/23	8/14/23	11/6/23	3/18/24	5/7/24	8/8/24	11/8/24	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: EMBRAER S.A.

balance-sheet-analysis-chart EMBRAER-S-A

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	612	1,696	1,392	1,457	1,353	560	354	106
Change	-	177.12%	-17.92%	4.67%	-7.14%	-58.61%	-36.79%	-70.06%
Announcement Date	3/26/20	3/19/21	3/9/22	3/10/23	3/18/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: EMBRAER S.A.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	284.5	102.3	101.7	136.2	238.7	273	248.8	290.4
Change	-	-64.04%	-0.59%	33.92%	75.27%	14.35%	-8.86%	16.72%
Free Cash Flow (FCF) ¹	609.3	-1,393	247.1	615.1	378.3	484	387	356
Change	-	-328.54%	-117.74%	148.93%	-38.5%	27.94%	-20.04%	-8.02%
Announcement Date	3/26/20	3/19/21	3/9/22	3/10/23	3/18/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: EMBRAER S.A.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	3.33%	2.18%	9.45%	10.11%	10.57%	12.96%	11.93%	12.42%
EBIT Margin (%)	-0.1%	-8.58%	4.8%	5.95%	6.53%	9.29%	8.34%	8.99%
EBT Margin (%)	-3.41%	-16.84%	0.65%	-4.53%	2.14%	7.77%	6.52%	7.8%
Net margin (%)	-5.9%	-19.41%	-1.06%	-4.08%	3%	6.12%	4.9%	5.74%
FCF margin (%)	11.15%	-36.93%	5.89%	13.55%	7.24%	7.75%	5.34%	4.41%
FCF / Net Income (%)	-189.05%	190.26%	-552.8%	-331.77%	241.19%	126.47%	108.93%	76.81%
Profitability
ROA	-	-6.93%	-0.43%	0.38%	1.57%	3.82%	3.72%	4.43%
ROE	-5.76%	-23.07%	-1.57%	1.47%	6.14%	12.46%	10.88%	12.37%
Financial Health
Leverage (Debt/EBITDA)	3.37x	20.65x	3.51x	3.18x	2.45x	0.69x	0.41x	0.11x
Debt / Free cash flow	1.01x	-1.22x	5.63x	2.37x	3.58x	1.16x	0.91x	0.3x
Capital Intensity
CAPEX / Current Assets (%)	5.21%	2.71%	2.42%	3%	4.57%	4.37%	3.43%	3.6%
CAPEX / EBITDA (%)	156.4%	124.6%	25.63%	29.68%	43.23%	33.71%	28.77%	28.95%
CAPEX / FCF (%)	46.69%	-7.35%	41.16%	22.14%	63.1%	56.4%	64.28%	81.57%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	-	0.3354	0.3964
Change	-	-	-	-	-	-	-	18.17%
Book Value Per Share ¹	-	-	3.777	3.495	3.793	4.374	4.805	5.291
Change	-	-	-	-7.47%	8.53%	15.31%	9.86%	10.12%
EPS ¹	-	-	-0.0608	-0.2524	0.2135	0.5548	0.5748	0.7202
Change	-	-	-	315.1%	-184.6%	159.83%	3.61%	25.3%
Nbr of stocks (in thousands)	-	-	734,633	734,633	734,633	734,633	734,633	734,633
Announcement Date	-	-	3/9/22	3/10/23	3/18/24	-	-	-