EMBJ

#769
Embraer S.A
72.2 4 USD
+0.01%
Market Price
Secteur: Industriels
Base: USD
Devise de Profit: USD
Range quotidien
72.09
72.81
Range Annuel
53.56
80.75
Changement quotidien
+0.77%
Changement Mensuel
+0.58%
Evolution sur 6 mois
+2.57%
Changement Annuel
+10.05%
Clôture Précédente
71.6 9
Open
72.5 8
Low
72.0 9
High
72.8 1
Volume
746
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Financials

Aperçu Relevé Statistiques Dividendes Documents

2026

Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q3 FY2026
EMBRAER S.A. current report, Q3 FY2026
6-K
Current report, Q2 FY2026
EMBRAER S.A. current report, Q2 FY2026
6-K
Current report, Q2 FY2026
EMBRAER S.A. current report, Q2 FY2026
6-K

EMBRAER S.A. current report, Q1 FY2019

Full document

Embraer S.A. Form 6-K Summary

Business Context and Reporting Period

This Form 6-K, filed on March 25, 2019, serves as the manual and management proposal for Embraer S.A.'s Annual and Extraordinary General Shareholders' Meetings (AGOE) scheduled for April 22, 2019. The filing covers the fiscal year ended December 31, 2018. Embraer is a Brazilian aerospace manufacturer listed on B3 (Novo Mercado segment) and the NYSE (via ADRs). The company operates without a controlling shareholder, though the Brazilian Federal Government holds a "Golden Share" with specific veto rights.

Key Financial Metrics (Fiscal Year 2018)

Revenue and Profitability:

  • Net Revenue: R$18,721.6 million (flat vs. 2017).
  • Net Loss: R$643.6 million (vs. Net Income of R$902.3 million in 2017).
  • Operating Profit (EBIT): R$103.1 million (down 91% from R$1,098.6 million in 2017).
  • Gross Margin: 15.0% (down from 18.7% in 2017).
  • Adjusted Operating Profit: R$800.0 million (4.3% margin), excluding non-recurring items.

Balance Sheet and Liquidity:

  • Cash and Cash Equivalents: R$4,963.0 million (Total cash resources including investments: R$12,429.3 million).
  • Total Indebtedness: R$14,134.1 million (95.1% long-term).
  • Net Debt: R$1,704.8 million.
  • Shareholders' Equity: R$15,267.0 million.
  • Current Ratio: 2.32.
  • Debt/EBITDA Ratio: 13.9x (up from 6.6x in 2017).

Operational Highlights:

  • Deliveries: 181 aircraft total (90 Commercial, 91 Executive), down from 210 in 2017.
  • Inventory: Increased 36.7% to R$9,714.3 million due to lower delivery rates.

Material Changes vs. Prior Period

The shift from profit to loss in 2018 was driven by several factors:

  • KC-390 Incident: A non-recurring event involving the KC-390 prototype 001 in May 2018 resulted in a negative revenue adjustment of R$458.7 million and increased costs in the Defense & Security segment.
  • Reduced Deliveries: Fewer aircraft deliveries in both Commercial and Executive segments impacted revenue and gross profit.
  • Financial Expenses: Net financial expenses increased significantly to R$633.0 million (from R$130.7 million in 2017) due to the net debt position and lower financial income from cash equivalents.
  • Exchange Rates: The depreciation of the Brazilian Real against the U.S. dollar (Embraer's functional currency) negatively impacted reported expenses and revenue.

Guidance, Outlook, and Strategic Developments

Strategic Partnership with Boeing:

The most significant development is the approved strategic partnership with The Boeing Company. Key terms include:

  • Commercial Aviation: Boeing will acquire an 80% controlling stake in Embraer's Commercial Aviation business unit for an estimated value of approximately $4.2 billion.
  • KC-390 Joint Venture: Embraer and Boeing will form a joint venture (Embraer 51%, Boeing 49%) to develop and market the KC-390 multi-mission aircraft.
  • Dividend: Management expects to propose an extraordinary dividend of approximately US$1.6 billion to shareholders upon closing, subject to transaction costs and final financial results.
  • Remaining Business: Embraer will retain its Executive Jets and Defense & Security businesses.

    • Outlook and Risks:

    • Closing Conditions: The transaction is subject to antitrust approvals in Brazil, the U.S., and other jurisdictions.
    • Debt Reduction: The partnership is expected to significantly reduce Embraer's indebtedness and strengthen its cash position.
    • Accounting Standards: The 2018 financial statements reflect the first-year adoption of IFRS 9 (Financial Instruments) and IFRS 15 (Revenue from Contracts with Customers), with comparative periods restated.

    Investor Verification Checklist

    • Boeing Transaction Status: Verify the progress of antitrust approvals and the expected closing date for the Commercial Aviation sale.
    • Extraordinary Dividend: Confirm the final calculation of the ~US$1.6 billion dividend and the timeline for distribution.
    • KC-390 Program Viability: Assess the impact of the prototype incident on the timeline and cost of the KC-390 program within the new joint venture structure.
    • Debt Covenants: Review compliance with debt covenants (e.g., Net Debt/EBITDA max 3.5:1 with BNDES) given the high leverage ratio of 13.9x reported in 2018.
    • Inventory Turnover: Monitor the reduction of inventory levels (currently R$9.7 billion) as delivery rates normalize post-transaction.
    • Management Compensation: Note the proposed aggregate annual compensation limit of R$74 million for management for the period May 2019–April 2020.