1. FIRST QUARTER 2012
RESULTS
April 27, 2012

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.
This information is the property of Embraer and cannot be used or reproduced without written consent.
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3. Highlights
• Delivery of 21 and sale of 12 E-Jets in 1Q12 (ten E195s
to Azul, one E190 to BA CityFlyer, and one E170 to JAL).
• E-Jets orders rose to 1,063, with 60 companies in
42 countries.
• E-Jets customer base expansion with two new operators:
Bulgaria Air and Estonian Air.
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4. Highlights
• Delivery of 13 executive jets in 1Q12 (12 light jets and one large jet).
• Legacy 500 first engine run and ground tests start.
• Delivery of the 300th Phenom and 100th executive jet in Brazil.
• Sale of three ultra-large Lineage 1000 jets to Minsheng of China.
• Continuous expansion of global support network
in strategic places to better serve our clients.
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5. Highlights
• Defense and security revenues went up to 20% of total revenues.
• AEW India program: second aircraft performed its
maiden flight.
• Three African nations were disclosed as Super Tucano
customers: Burkina Faso, Angola and Mauritania. Total
contract: US$ 180 million.
• Embraer Defense and Security increased to 65% its stake in OGMA.
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6. Aircraft Deliveries
Commercial Jets Executive Jets
32 40
28
25
20 21
20 17
10 12
6
2 3 1 1
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
Light Jets - Phenom
2012 deliveries estimates
• 105 - 110 commercial jets Large Jets - Legacy & Lineage
• 15 - 20 executive large jets
• 75 - 85 executive light jets
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7. Firm Backlog
US$ Billion
20.9
18.8
16.6 15.6 15.4
14.8 14.7
2006 2007 2008 2009 2010 2011 1Q2012
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8. Revenues by Segment
Net Revenues
US$ Billion 1.06 1.36 1.36 2.03 1.16
Commercial aviation Executive aviation Defense and security Others
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9. Net Revenues and Gross Margin
IFRS - US$ Million IFRS - R$ Million
24.3%
23.2% 24.3% 23.2%
22.4% 22.5% 22.5%
21.2% 22.4%
21.2%
2,025 3,667
1,359 1,364 2,169 2,266
1,056 1,156 2,049
1,757
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
Net Revenues Gross Margin
2012 Outlook: Net Revenues US$ 5.8 – 6.2 billion
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10. SG&A Expenses
IFRS - US$ Million IFRS - R$ Million
334
186 180 318
173 172
277 280
151 252 129
72 126
64 71
69
103 113
57 95
109 114 109 205 192
94 103 174 167
157
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
G&A Expenses Selling Expenses
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11. Income from Operations
IFRS - US$ Million IFRS - R$ Million
9.1% 8.9% 9.4%
8.9% 7.8%
7.8% 7.5%
7.4%
-0.3% -0.4%
124 212
106 169
94 86 157 153
(6) (15)
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
EBIT EBIT Margin
2012 Outlook: EBIT Margin 8.0% – 8.5%
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12. EBITDA
IFRS - US$ Million IFRS - R$ Million
12.8% 14.8% 12.9%
14.8%
13.8% 13.7%
11.3% 11.5%
2.9%
2.8%
188 311
156 153 148 260 250 264
59 101
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
EBITDA EBITDA Margin
2012 Outlook: EBITDA Margin 11.5% – 12.5%
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13. Net Income
IFRS - US$ Million IFRS - R$ Million
10.0% 9.9%
7.1% 7.1%
5.4% 5.4%
105 174 154
96 0.1% 0.0% 111
63 0
2
-4.7%
-4.5%
-92 (172)
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
Net Income Net Margin
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14. Inventories / Free Cash Flow
Inventories - US$ Million Free Cash Flow - US$ Million
277
2,872
2,697 2,652
2,561
2,288 (38)
(126) (112)
(174)
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
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15. Indebtedness Profile Net Cash
Indebtedness Maturity Net Cash - US$ Million
10% 13% 15%
26% 27%
5.0 4.8
5.7
4.5
4.2
85% 505
87% 74% 74% 446
90% 406
302
193
1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12
Long-term Short-term
Loans Average Maturity (Years)
Total Debt 1Q12 US$ 2.0 Billion Total Cash 1Q12 US$ 2.3 Billion
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16. Investor Relations
Phone: +55 12 3927 4404
investor.relations@embraer.com.br
www.embraer.com
This information is the property of Embraer and cannot be used or reproduced without written consent.