Financials Embraer S.A.

Equities

EMBJ3

BREMBJACNOR1

Aerospace & Defense

Market Closed - Sao Paulo Other stock markets 02:37:51 14/02/2026 am IST			5-day change	1st Jan Change
92.84 ^BRL	-9.83%		+1.19%	+4.79%

11/02	AirAsia to place order for small jets, drop Airbus A330neo	RE
04/02	Eve receives AirX firm order for two eVTOLs, with option for up to another 48 units	RE

Projected Income Statement: Embraer S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,771	4,197	4,540	5,226	6,071	7,440	8,393	9,265
Change	-	11.3%	8.18%	15.1%	16.17%	22.55%	12.8%	10.4%
EBITDA ¹	82.1	396.8	458.9	552.2	883.3	861.8	1,035	1,192
Change	-	383.31%	15.65%	20.33%	59.96%	-2.44%	20.16%	15.09%
EBIT ¹	-323.4	201.3	270.3	341.1	683.9	627.2	776.6	904.5
Change	-	162.24%	34.28%	26.21%	100.46%	-8.29%	23.83%	16.46%
Interest Paid ¹	-232.7	-199.4	-210.7	-193.3	-104.4	-271.2	-72.5	-65.25
Earnings before Tax (EBT) ¹	-635.2	27.4	-205.8	111.9	532.8	330.1	671.2	797.4
Change	-	104.31%	-851.09%	154.36%	376.32%	-38.04%	103.31%	18.81%
Net income ¹	-731.9	-44.7	-185.4	156.8	328.9	416.4	526.6	612.4
Change	-	93.89%	-314.77%	184.6%	109.68%	26.61%	26.46%	16.3%
Announcement Date	19/03/21	09/03/22	10/03/23	18/03/24	27/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	1,841	807.3	1,130	958.1	1,301	600.9	1,019	929	1,992	716.7	1,292	1,284	1,947	897	1,494	1,692	2,356	1,103	1,819	2,004	2,544	1,356	1,886	2,234
Change	-	-56.16%	40.03%	-15.25%	35.82%	-53.82%	69.56%	-8.82%	114.38%	-64.01%	80.31%	-0.61%	51.61%	-53.94%	66.58%	13.26%	39.18%	-53.17%	64.93%	10.13%	26.99%	-46.72%	39.15%	18.46%
EBITDA ¹	145.6	18	160.7	79.2	111.4	13.2	124.6	92.9	228.2	10.3	148.9	149.3	249	46.17	190.4	356.6	333.8	108.6	245.5	236.3	288.1	135	221.1	281.3
Change	-	-87.64%	792.78%	-50.72%	40.66%	-88.15%	843.94%	-25.44%	145.64%	-95.49%	1,345.63%	0.27%	66.79%	-81.46%	312.35%	87.29%	-6.38%	-67.47%	126.06%	-3.75%	21.9%	-53.13%	63.76%	27.25%
EBIT ¹	103.6	-29.6	104.7	35.7	60.6	-36.3	66.7	49.9	166.2	-31.6	99.9	100.1	178.1	6.678	138.8	297.5	271	62	191.8	172	219	88.64	163.8	218.7
Change	-	-128.57%	453.72%	-65.9%	69.75%	-159.9%	283.75%	-25.19%	233.07%	-119.01%	416.14%	0.2%	77.88%	-96.25%	1,978.43%	114.34%	-8.9%	-77.12%	209.35%	-10.32%	27.3%	-59.52%	84.84%	33.48%
Charge d'intérêts ¹	-64.61	-75.4	-65.5	-51.7	-6.8	-65.6	-38	-84.3	-52.14	-82.4	-76.9	-20.6	-42.88	24.15	-24.4	-24.8	-103.3	-65.6	-113.5	-49.8	-38.9	-	-	-
Earnings before Tax (EBT) ¹	11.4	-88.9	-	-25	57.7	-81	-	-46.1	99.4	-103.2	-0.8	-	163.6	32.51	111.4	244	83.21	-24.1	47.2	106.8	190.3	55.3	142.3	180.1
Change	-	-879.82%	-	-	330.8%	-240.38%	-	-	315.62%	-203.82%	99.22%	-	-	-80.13%	242.67%	119.03%	-65.9%	-128.96%	295.85%	126.27%	78.2%	-70.94%	157.23%	26.59%
Net income ¹	-3.3	-89.7	87.9	-45	2.1	-31.7	74.2	-30.2	22.9	-70.8	-18.8	61	188.9	28.21	99.4	178.8	45.21	73.4	78.6	116.6	151.3	44.24	113.8	144.1
Change	-	-2,618.18%	197.99%	-151.19%	104.67%	-1,609.52%	334.07%	-140.7%	175.83%	-409.17%	73.45%	424.47%	209.62%	-85.06%	252.3%	79.88%	-74.71%	62.34%	7.08%	48.35%	29.8%	-70.77%	157.23%	26.59%
Announcement Date	19/03/21	29/04/21	13/08/21	05/11/21	09/03/22	28/04/22	04/08/22	14/11/22	10/03/23	04/05/23	14/08/23	06/11/23	18/03/24	07/05/24	08/08/24	08/11/24	27/02/25	06/05/25	05/08/25	04/11/25	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Embraer S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	1,696	1,392	1,457	1,353	1,040	-216	-546	-934
Change	-	-17.92%	4.67%	-7.14%	-23.13%	-120.77%	-152.78%	-71.06%
Announcement Date	19/03/21	09/03/22	10/03/23	18/03/24	27/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Embraer S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	102.3	101.7	136.2	238.7	200.4	412.4	399.8	415.9
Change	-	-0.59%	33.92%	75.27%	-16.05%	105.78%	-3.04%	4.02%
Free Cash Flow (FCF) ¹	-1,393	247.1	615.1	378.3	670.9	359.7	391.3	539.3
Change	-	117.74%	148.93%	-38.5%	77.35%	-46.39%	8.8%	37.82%
Announcement Date	19/03/21	09/03/22	10/03/23	18/03/24	27/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Embraer S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	2.18%	9.45%	10.11%	10.57%	14.55%	11.58%	12.34%	12.86%
EBIT Margin (%)	-8.58%	4.8%	5.95%	6.53%	11.26%	8.43%	9.25%	9.76%
EBT Margin (%)	-16.84%	0.65%	-4.53%	2.14%	8.78%	4.44%	8%	8.61%
Net margin (%)	-19.41%	-1.06%	-4.08%	3%	5.42%	5.6%	6.27%	6.61%
FCF margin (%)	-36.93%	5.89%	13.55%	7.24%	11.05%	4.83%	4.66%	5.82%
FCF / Net Income (%)	190.26%	-552.8%	-331.77%	241.19%	204%	86.38%	74.32%	88.07%
Profitability
ROA	-6.93%	-0.43%	0.38%	1.57%	4.08%	3.74%	5.38%	6.64%
ROE	-23.07%	-1.57%	1.47%	6.14%	15.75%	10.66%	14.04%	15.46%
Financial Health
Leverage (Debt/EBITDA)	20.65x	3.51x	3.18x	2.45x	1.18x	-	-	-
Debt / Free cash flow	-1.22x	5.63x	2.37x	3.58x	1.55x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.71%	2.42%	3%	4.57%	3.3%	5.54%	4.76%	4.49%
CAPEX / EBITDA (%)	124.6%	25.63%	29.68%	43.23%	22.69%	47.85%	38.61%	34.9%
CAPEX / FCF (%)	-7.35%	41.16%	22.14%	63.1%	29.87%	114.66%	102.17%	77.12%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	0.3165	0.405	0.5329
Change	-	-	-	-	-	-	27.96%	31.58%
Book Value Per Share ¹	-	3.777	3.495	3.793	4.187	4.999	5.737	6.667
Change	-	-	-7.47%	8.53%	10.38%	19.4%	14.75%	16.22%
EPS ¹	-	-0.0608	-0.2524	0.2135	0.4477	0.6194	0.894	1.156
Change	-	-	-315.1%	184.6%	109.67%	38.36%	44.34%	29.34%
Nbr of stocks (in thousands)	-	7,34,633	7,34,633	7,34,633	7,34,633	7,15,867	7,15,867	7,15,867
Announcement Date	-	09/03/22	10/03/23	18/03/24	27/02/25	-	-	-