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Embraer launches Social Tech program to generate opportunities for underrepresented groups

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The new program is part of a set of environmental, social and governance (ESG) commitments announced by the company. Embraer delivered 14 commercial jets and 20 executive jets (12 light / 8 large) in 2Q21, bringing the year-to-date deliveries to 23 commercial jets and 33 executive jets (22 light /11 large).

SAO PAULO, BRAZIL - Innovation and technology are directly associated with Embraer's success story and now they will also play an important role in increasing the company's positive social impact on society. Through the Social Tech program, which brings together immersive distance training platforms, Embraer will promote professional training in technology for 1,500 people from minority groups by 2025.

The new program is part of a set of environmental, social and governance (ESG) commitments announced by the company. Embraer is one of the largest private social investment references in Brazil and carries out projects focused on education, which impact thousands of young people in vulnerable situations annually.

"The demand for qualified professionals in technology is growing in the global job market, with excellent career opportunities that are often out of reach for underrepresented groups. With Social Tech, we hope to contribute to eliminating social and economic barriers" said Carlos Alberto Griner, Embraer's Vice President of People, ESG and Communication. "Our plan is to expand the program over the next few years to create more opportunities for minorities, initially focused on people with disabilities, before we potentially focus on women, people of color and LGBTQIA+.”

The first Embraer Social Tech will be implemented in partnership with the Brazilian Institute of Management and Information Technology (IGTI in Portuguese), to promote, exclusively at this time, professional training for People with Disabilities in the area of Data Analysis. The methodology adopted will be a bootcamp, an immersive training to develop skills and competencies in the sector.

The program will select 300 applicants from all over Brazil who do not necessarily need to have previous experience in technology. Enrollments take place on the IGTI portal, starting on August 16 until September 10 of 2021. The attendees will have the opportunity of employment in one of the various business areas at Embraer, with an expectation to fill a minimum of 50 vacancies. With a three-month duration, the activities will start in October.

Embraer Earnings Results 2nd Quarter 2021

  • Embraer delivered 14 commercial jets and 20 executive jets (12 light / 8 large) in 2Q21, bringing the year-to-date deliveries to 23 commercial jets and 33 executive jets (22 light /11 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of 2Q21 was US$ 15.9 billion;
  • Revenues in 2Q21 reached US$ 1,130.5 million, representing year-over-year growth of 110.4% compared to 2Q20, with double digit growth in all segments. First half 2021 revenues grew 65.5% compared to the same period of 2020;
  • Excluding special items, adjusted EBIT and EBITDA were US$ 104.7 million and US$ 160.7 million, respectively, yielding adjusted EBIT margin of 9.3% and adjusted EBITDA margin of 14.2%. In the first six months of 2021, adjusted EBIT margin was 3.9% and adjusted EBITDA margin was 9.2%;
  • Adjusted net income (excluding special items and deferred income tax and social contribution) in 2Q21 was US$ 43.6 million, with adjusted earnings per ADS of US$ 0.24. This is the Company’s first quarterly adjusted net profit reported since the first quarter of 2018;
  • Embraer generated free cash flow in 2Q21 of US$ 45.1 million, and in the first half of 2021 free cash usage was US$ (181.4) million. The free cash flow in both periods represented a significant improvement compared to the negative free cash flow in 2Q20 and the first half of 2020 on better profitability and on working capital efficiencies;
  • The company finished the quarter with total cash of US$ 2.5 billion and net debt of US$ 1.8 billion;
  • Embraer has issued financial and deliveries guidance for 2021. The Company expects commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 units, consolidated revenues in a range of US$ 4.0 to $4.5 billion, adjusted EBIT margin of 3.0% to 4.0%, adjusted EBITDA margin of 8.5% to 9.5%, and free cash flow to be within a range of a usage of US$ 150 million to breakeven for the year without M&A or divestitures.
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