EMBRAER SA released its first quarter 2014 results. In the first quarter of 2014 (1Q14), Embraer delivered 14 commercial and 20 executive (17 light and 3 large) jets.
The Company’s firm order backlog grew to US$ 19.2 billion, reaching its highest level since the second quarter of 2009, mainly as a result of orders in the Commercial Aviation segment.
As a result of aircraft deliveries, coupled with revenues from the Company’s growing Defense & Security business, 1Q14 Revenues reached US$ 1,242.3 million.
Revenues increased by more than 50% in both the Defense & Security and Executive Jets segments in 1Q14 compared to the prior year’s quarter, in line with the Company’s diversification strategy.
EBIT and EBITDA margins were 7.4% and 12.2% respectively, in 1Q14;
1Q14 Net income attributable to Embraer Shareholders and Earnings per basic ADS totaled US$ 110.6 million; and US$ 0.6044, respectively.
Embraer ended 1Q14 with a net cash position of US$ 52.7 million.