It will be important to mention that selling bills include larger dangerous debt provisions in comparison with final 12 months, principally associated to our services and support receivables. We’re assured that our free money circulation might be significantly better in the first quarter of the year, and we should be not less than a money breakeven within the second half of 2020. Finally, on Slide 20, we highlight our strong cash place. Starting subsequent year, we count on that the market will start to get better with variations relying on the precise business areas and markets. Embraer has based these forward-looking statements largely on its present expectations and projections about future events and financial traits affecting the enterprise and its future monetary efficiency. Excluding that, our money consumption within the third quarter of this yr will probably be very near the third quarter of 2019. Giving expectations for greater deliveries in the fourth quarter, we had a constructive impact on our working capital as well as our value discount initiatives.
And someone with an $800,000 loan balance would possibly want to refinance for just a 0.25% discount. Just to provide you with somewhat more visibility, the first entrance which is said to environment friendly gains entails the creation of a world-class purchasing organization, reporting to the CFO, and focusing in a really structured way on intelligent value discount. We’re still not in the purpose the place we can give guidance on anticipated deliveries or monetary performance due to the COVID-19 uncertainties. You possibly can solely assume a mortgage if the loan is assumable, and an ideal many aren’t. The loan software process is easy and problem-free. Many banks that you could be call or stroll into will very often charge you an utility fee of $300-$400. The nice religion estimate is a disclosure of the fees that will probably be charged in the transaction including non-recurring and recurring costs. The adjusted EBIT in the third quarter excluded a positive impression of $7 million from particular items, together with $54 million in cost related to our restructuring introduced in September and $30 million in additional bad debt provision, offset by $75 million deposits new reveres of noncash impairments charged in government and industrial aviation.
Adjusted EBIT margin was minus 1%. The mixture of higher volumes and cost lower initiatives have already started to look in the third quarter. However, some lenders offer secured private loans, which would require collateral, and could provide higher charges than an unsecured loan. As I mentioned earlier, we count on a fair better fourth quarter compared to the third quarter. You’ll be planning your rental technique round this, so it’s worthwhile to ensure that it’s reasonably priced, even if the property is left vacant between tenants. We know the way the plan should be carried out, and we have an immensely competent and aligned group that may develop the mandatory initiatives to make the corporate grow profitably in the approaching years. For those who happened to be denied when applying for a mortgage, it doesn’t mean you won’t ever qualify; it just implies that right now, your financial state of affairs is not the very best for a mortgage. 1. It was 1968, and mortgage rates have been over 8.5%. For perspective, proper now, a very good common is in the 3.5% vary (possibly a little higher or lower depending on components). The earlier call, we mentioned that we are seeing, and we see a very good likelihood to grow to be, I’d say, free money movement breakeven the second semester second half of the 12 months.
And we anticipate some new gross sales to potentially result in a backlog expansion in the upcoming quarters, depending on the impacts of a second COVID wave in sure areas. Moving on to our financial results on Slide 12. Our backlog completed the third quarter at $15.1 billion, representing a number of years of revenue for Embraer. So Slide 16 exhibits our adjusted EBITDA, which was a loss of $80 million and likewise excluded the particular gadgets already talked about in the earlier slide. With almost 5 million high quality leads generated, WebFX has a penchant for high quality. Though younger, this company knows how to supply high quality service. Our companies and help team additionally accomplished the seven conversion of a Legacy 450 to Praetor 500 since this service grew to become available early this 12 months. And we expect this development to accelerate in the fourth quarter of the 12 months. That’s the reason we’re so assured within the fourth quarter and on the recovery towards year finish.