2. Forward Looking Statement
This presentation includes forward-looking statements or statements about events or
circumstances which have not occurred. We have based these forward-looking statements
largely on our current expectations and projections about future events and financial trends
affecting our business and our future financial performance. These forward-looking
statements are subject to risks, uncertainties and assumptions, including, among other
things: general economic, political and business conditions, both in Brazil and in our
market.
The words “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,”
“expects” and similar words are intended to identify forward-looking statements. We
undertake no obligations to update publicly or revise any forward-looking statements
because of new information, future events or other factors. In light of these risks and
uncertainties, the forward-looking events and circumstances discussed in this presentation
might not occur. Our actual results could differ substantially from those anticipated in our
forward-looking statements.
11. Net Cash (Debt) Position
US$ Million
304
222 220
178
22
4Q03 1Q04 2Q04 3Q04 2004
12. Indebtedness
Total Debt of US$ 1,338.7 Million
Brazilian
Currency 25%
Long Term Short Term
62% 38%
Foreign
Currency 75%
• Average cost in R$ = 12.4 %p/a Long-Term Loan Average Maturity:
• Average cost in US$ = 5.4% p/a 3 years and 4 months
13. Indebtedness Maturity
US$ million
1,339
513
200
298
167
160
Total Short Term 2006 2007 2008 Beyond 2009
18. Contributions from Risk Sharing Partners
US$ million
246 14
1 108
-
72
24
28
Total
2001
2002
2003
2004
2005E
2006E
2007/2010E
19. Investments Forecast
Defense investments are funded by their contracts and are not
included in R&D expenses but in Cost of Sales and Services.
US$ million
2005 2006
R&D Total 119 66
- Commercial Aviation 89 37
- Corporate Aviation 11 12
- Others 19 17
Defence 88 38
Productivity and PP&E 77 59
TOTAL 284 163
Does not include new programs