Overall Embraer results meet expectations

Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) has released its fourth quarter and fiscal year 2015 results, the company said.

In its fourth quarter of 2015, Embraer delivered 33 commercial and 45 executive (25 light and 20 large) jets.

The company ended 2015 with 101 total commercial aircraft deliveries, surpassing 2015 guidance.

Total executive jet deliveries of 120 aircraft (82 light and 38 large) met the executive jet deliveries guidance for 2015.

Revenues in its fourth quarter of 2015 reached USD2,074.4 million and in 2015 were USD5,928.1 million, also meeting the company´s 2015 revenue guidance range of USD5.8 to USD6.3 billion.

EBIT and EBITDA margins were 3.1 percent and 7.9 percent, respectively, in its fourth quarter of 2015, and for fiscal year 2015 the EBIT and EBITDA margins were 5.6 percent and 10.9 percent, respectively.

Excluding provisions related to the Chapter 11 filing of Republic Airways Holdings, EBIT and EBITDA margins in its fourth quarter of 2015 were 8.0 percent and 12.8 percent, respectively, and for fiscal year 2015 EBIT and EBITDA margins excluding these items were 7.3 percent and 12.6 percent, respectively.

EBITDA margin excluding these provisions met the guidance range of 12.6 percent to 13.6 percent for the year, though EBIT margin was below guidance.