SÃO JOSÉ DOS CAMPOS, Brazil, March 26, 2020 /PRNewswire/ -- Embraer S.A. (" Company" or " Embraer") informs the market that it has been monitoring the COVID-19 outbreak and its impacts on its employees, operations, the global economy, the supply and the demand for its products and services. The Company´s Crisis Committee monitors on a daily basis the development of the pandemic situation and it has implemented contingency plans to act as quickly as necessary as the current situation continues to unfold.
Embraer has so far not suffered extensive delays in its supply chain, production operations, or material impacts on the demand for its products. Nevertheless, due to the uncertainty related to the spread of the virus, we are suspending the projections presented, on November 12, 2019, in relation to the expected results for 2020. Updated projections will be disclosed as soon as we have a greater visibility into the impact of the virus on the Company's businesses. At the Company's premises in Brazil, some essential activities continue to operate on a regular basis, some employees are working from home (home office) and those employees who cannot perform their activities remotely have been placed on temporary paid leave until March 31, 2020. The Company assesses the implementation measures related to these in its premises abroad. Such measures aim to preserve the health and well-being of Embraer's employees.
If the measures being taken around the world in an attempt to slow down the spreading of the virus turn out to be persistent, this will have significant negative impacts on the global economy, which could cause an adverse effect on us. Governments have already imposed severe measures, such as quarantines, travel and flight restrictions, reduction in movement between countries, all of which we expect to generate some disruptions in the supply and demand side of our businesses.
While Embraer has weathered economic and geopolitical crises in the past, and the Company's management and all of its employees remain committed to achieving its long-term targets, we cannot at this point foresee to what extent this virus and measures to attempt to contain it will affect us.
Embraer's top priority remains the health and safety of its employees, customers, and other collaborators.
São José dos Campos, March 26, 2020.
Antonio Carlos GarciaExecutive Vice President of Finance and Investor Relations
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SOURCE Embraer S.A.