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EMBRAER REPORTS FOURTH QUARTER AND 2002 FULL YEAR DELIVERIES AND TOTAL COMPANY
BACKLOG
Sao Jose dos Campos, January 16, 2003 - Embraer (NYSE: ERJ; BOVESPA: EMBR3 and
EMBR4) today announced fourth quarter 2002 and full year 2002 jet deliveries and
backlog for its Airline, Corporate Jet & Governmental Transportation markets.
The deliveries by segment were as follows:
Deliveries by Segment 4th Quarter Full Year
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2002 2002
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Airline Market
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ERJ 135 2 3
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ERJ 140 6 36
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ERJ 145 28 82
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Total Airline Market 36 121
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Corporate Jet Market
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Legacy Executive 4 7
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Legacy Shuttle 1 1
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Total Corporate Jet Market 5 8
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Defense (*)
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Legacy Executive 0 1
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EMB135/EMB145 0 1
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Total Defense 0 2
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Total 41 131
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(*) Includes only deliveries for governmental transportation.
In 2002, Embraer delivered 131 aircraft, compared with the 132 deliveries
expected for 2002. The postponement of the delivery of three corporate jets and
the anticipation of the delivery of two regional jets impacted these figures.
Embraer maintains its expectation to deliver 148 aircraft in 2003 and 155
aircraft in 2004. Deliveries of the EMBRAER 170 are scheduled to begin in 2003
and deliveries of EMBRAER 175 are scheduled to begin in 2004, therefore in both
years, Embraer expects a product mix improvement.
Embraer expects to deliver approximately 40% of 2003 total deliveries in the
first half of 2003 and the remaining 60% in the second half of 2003, due to
deliveries of the EMBRAER 170 that will begin in the second half of the year.
Embraer's firm order backlog as of December 31, 2002 was US$ 9.0 billion. As of
the same date, total backlog, including options, reached US$ 22.2 billion. The
total backlog amount includes 2 ERJ 145s that were delivered to PB Air during
the fourth quarter and Alitalia's EMBRAER 170 order, deliveries of which are
expected to begin in 2003.
The above-mentioned backlog does not include the sales already announced to Jet
Airways and LOT, as these contracts are still being finalized.
The contract between LOT and Embraer for 10 EMBRAER 170s, plus 11 additional
aircraft on option, includes possible negotiations for the trade-in, from 2006
onwards, of three ERJ 145s currently used by LOT.
When the airline decides to exercise its options for further EMBRAER 170, there
may be the possibility of trade-in on up to three other ERJ 145, depending on
the number of options confirmed.
When the final contract is signed, the impact on Embraer's firm orderbook will
show six EMBRAER 170s, the four remaining aircraft will be operated by LOT
through an Operating Lease contract with GE Capital Aviation Services (GECAS).
These four aircraft already appear in the current orderbook under the contract
with GECAS.
Embraer's backlog as of December 31, 2002 by product was as follows:
Product Firm Options Deliveries Firm Order
Order Backlog
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Airline Market
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ERJ 135 122 06 91 31
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ERJ 140 174 45 58 116
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ERJ 145 583 301 474 109
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EMBRAER 170 88 136 - 88
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EMBRAER 195 30 72 - 30
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Total Airline Market 997 560 623 374
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Corporate Jet Market
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Legacy Executive 41 35 7 34
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Legacy Shuttle 25 50 1 24
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EMB 135/145 7 6 7 -
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Total Corporate Jet Market 73 91 15 58
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Defense (*)
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Legacy Executive 1 1 1 -
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EMB 135 / 145 4 - 4 -
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Total Defense 5 1 5 -
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Total 1075 652 643 432
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(*) Includes only deliveries for governmental transportation.
General Information
Embraer is one of the world's leading manufacturers of commercial aircraft with
a global customer base. Embraer is headquartered in Sao Jose dos Campos, state
of Sao Paulo, with regional offices in the United States, Europe and Asia,
customer service centers in Australia, France and the United States, and a total
workforce of 12,161 people as of September 30, 2002. Embraer - Empresa
Brasileira de Aeronautica S.A. was Brazil's largest exporter from 1999 until
2001 and its second largest in 2002. As of December 31, 2002, Embraer's firm
order backlog totaled US$ 9.0 billion and the total backlog, including options,
equaled US$ 22.2 billion.
Embraer has 33 years of experience in designing, developing, manufacturing,
selling and providing after sales support to aircraft aimed at the world
airline, defense and, more recently, the corporate markets.
IR Contacts
Anna Cecilia Bettencourt - Head of IR
Gustavo Poppe - IR Manager
Milene Petrelluzzi - IR Analyst
Paulo Ferreira - IR Analyst
Phone : +55 12 3927 1216
Fax : + 55 12 3922 6070
e-mail : mercapit@embraer.com.br
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This press release 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. 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 markets; anticipated trends in our
industry; our expenditure plans; our ability to develop and deliver our products
on a timely basis; and existing and future governmental regulation.
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 press release might not occur. Our actual
results could differ substantially from those anticipated in our forward-looking
statements.
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Press Offices
Headquarters North America Europe, Middle East and Africa
Rosana Dias: Doug Oliver, Stephane Guilbaud,
rosana.dias doliver@embraer.com sguilbaud@embraer.fr
@embraer.com.br Phone: +1 954 359 3414 Phone: +33 (0) 1 49 38 44 55
Cell: +55 12 9724-4929 Cell: +1 954 232 9560 Cell: +33 (0) 6 75 22 85 19
Marcelo Onaga: Fax: + 1 954 359 4755 Fax: +33 (0) 1 49 38 44 56
marcelo.onaga Andrea Bottcher, Valerie Carlier,
@embraer.com.br abottcher@embraer.com vcarlier@embraer.fr
Cell: +55 12 9721-1560 Phone: +1 954 359 3432
Karina Serpa: Cell:+ 1 954 439 1830
karina.serpa
@embraer.com.br
Cell: +55 12 9721-1563
Phone: +55 12 3927 1311
Fax: +55 12 3927 2411