SÃO PAULO, April 28, 2022 /PRNewswire/ -- EMBRAER S.A. (NYSE:ERJ, B3: EMBR3))) releases its First Quarter 2022 Earnings Results.

HIGHLIGHTS

Embraer delivered 14 jets in the first quarter, of which 6 commercial aircraft and 8 executive jets (6 light and 2 mid-size).
Firm order backlog ended 1Q22 at US$ 17.3 billion (+US$0.3 billion versus 4Q21). This is the highest quarter backlog since 2Q18, driven by solid order activity.
Revenues reached US$ 600.9 million in the quarter, down 26% compared to 1Q21, with almost one month of production shut down due to system and legal reintegration of Commercial Aviation in January. In contrast, reported consolidated gross margin of 20.1% was higher than the 9.5% reported in 1Q21 due to better performance in all segments.
Adjusted EBIT and EBITDA were US$ (27.0) million and US$ 13.2 million, respectively, yielding Adjusted EBIT margin of -4.5% and Adjusted EBITDA margin of 2.2%. This includes nonrecurring expenses of US$17 million for the quarter.
Free cash flow (FCF) in 1Q22 was a usage of US$ (67.8) million, representing a significant improvement compared to the US$ (226.6) million in FCF in 1Q21, and best FCF for 1Q since 1Q10, consistent with working capital optimization measures and enterprise efficiency.
FX Variation & Hedge - in 1Q22 we recognized credits of USD 0.8 million related to payroll expenses due to cash flow hedge, mitigating our exposure to FX variation, which is approximately 13% of total costs.
The Company finished the quarter with total debt of US$ 3.6 billion, or US$0.5 billion less in line with the strategy to improve our capital structure.
We reaffirm all aspects of our 2022 financial and deliveries guidance, with no material variation.

Main financial indicators

in millions of U.S dollars, except % and earnings per share data
IFRS	1Q21	4Q21	1Q22
Revenue	807.3	1,301.3	600.9
EBIT	(33.1)	60.6	(36.3)
EBIT margin %	-4.1%	4.7%	-6.0%
Adjusted EBIT	(29.6)	56.2	(27.0)
Adjusted EBIT margin %	-3.7%	4.3%	-4.5%
EBITDA	14.5	111.4	3.9
EBITDA margin %	1.8%	8.6%	0.6%
Adjusted EBITDA	18.0	107.0	13.2
Adjusted EBITDA margin %	2.2%	8.2%	2.2%
Adjusted net income (Loss)	(95.9)	57.2	(78.5)
Adjusted earnings (losses) per share - ADS basic	(0.5219)	0.3116	(0.4274)
Net income (loss) attributable to Embraer Shareholders	(89.7)	2.1	(31.7)
Earnings (losses) per share - ADS basic (US$)	(0.4882)	0.0114	(0.1726)
Adjusted free cash flow	(226.6)	452.6	(67.8)
Net debt	(1,902.2)	(1,392.2)	(1,453.2)

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

INVESTOR RELATIONS

Leonardo Shinohara, Jose Triques, Caio Pinez, Marilia Saback and Viviane Pinheiro.

(+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 1Q22 Results on:

Thursday, April 28, 2022 at 09:00 AM (NY Time)

The conference call will also be broadcast live over the web at ri.embraer.com.br

Conference ID: EMBRAER

Telephones USA / Canada: +1 (412) 717-9627 / +1 (844) 204-8942 / UK: +44 20 3795 9972

Telephones Brazil: +55 (11) 3181-8565 / +55 (11) 4090-1621

We recommend calling 15 minutes in advance.

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SOURCE Embraer S.A.

EMBRAER RELEASES ITS 1st QUARTER 2022 EARNINGS RESULTS