Comunicato stampa : BOMBARDIER INC.

04/dic/2009 12.10.46 Hugin Group Contatta l'autore

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Alla cortese attenzione della Redazione - Servizio Borsa / Finanza


 BOMBARDIER INC.


Bombardier annuncia i suoi risultati finanziari per il terzo trimestre chiuso al 31 ottobre 2009
04/12/2009 12:07:00



MONTREAL, QUEBEC--(Marketwire - 3 dicembre 2009) - Bombardier Inc. (TSX: BBD.A)(TSX: BBD.B)

(Tutte le cifre di questo comunicato stampa sono in dollari USA eccetto dove indicato)

- Utili consolidati di 4,6 miliardi di %24;, in linea con l'ultimo anno fiscale

- EBITDA di 388 milioni di %24;, contro i 435 milioni di %24; dell'ultimo anno fiscale

- EBIT di 262 milioni di %24;, contro i 296 milioni di %24; dell'ultimo anno fiscale

- Reddito netto di 168 milioni di %24;, contro i 226 milioni di %24; dell'ultimo anno fiscale

- Utile per azione di 0,09 %24;, contro i 0,12 %24; dell'ultimo anno fiscale

- Free cash flow of %24;72 million, compared to a usage of %24;226 million last fiscal year

- Strong cash position at %24;3 billion

- Backlog of %24;47.4 billion

- Landmark order to supply 80 ZEFIRO 380 very high speed trains in China

- Subsequent to quarter end, order for 22 CRJ700 regional jets

Bombardier today reported its financial results for the third quarter ended October 31, 2009. Revenues reached the same level as last year at %24;4.6 billion. Earnings before financing income, financing expense and income taxes (EBIT) totalled %24;262 million, compared to %24;296 million last fiscal year, while the EBIT margin reached 5.7% compared to last year's 6.5%.

Net income amounted to %24;168 million, compared to %24;226 million for the same period last fiscal year. Free cash flow (cash flows from operating activities less net additions to property, plant and equipment and intangible assets) stood at %24;72 million for the third quarter, compared to a free cash flow usage of %24;226 million for the same period last fiscal year. The cash position remains strong at %24;3 billion, compared to %24;3.5 billion as at January 31, 2009. The overall backlog stood at %24;47.4 billion, compared to %24;48.2 billion as at January 31, 2009.

"Despite early signs of a recovery, the economic environment remains difficult and continued to impact our activities and financial results, especially in Bombardier Aerospace", said Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc. "However, Bombardier Transportation continues to improve its revenues, profitability and order intake."

"Our backlog and balance sheet are strong. Both groups continue to look for ways to reduce overall costs in their operations and improve their working capital, while maintaining investments in new product development. We will be ready when the economy recovers", concluded Mr. Beaudoin.

Bombardier Aerospace

Bombardier Aerospace's revenues amounted to %24;2.1 billion, compared to %24;2.3 billion last fiscal year. EBIT totalled %24;103 million, or 5% of revenues, compared to %24;176 million, or 7.7%, for the same period last fiscal year. Free cash flow for the third quarter end ed October 31, 2009 reached %24;61 million compared to %24;9 million for the same period last fiscal year. The backlog stood at %24;18.1 billion as at October 31, 2009, compared to %24;23.5 billion as at January 31, 2009.

Although the business aircraft market is still experiencing difficulties, there are some signs of stabilization. Bombardier Business Aircraft net orders for the third quarter ended October 31, 2009 returned to a positive position for the first time since the third quarter of last fiscal year.

Bombardier Commercial Aircraft experienced a low level of order intake during the three-month period ended October 31, 2009 reflecting the significantly reduced demand for commercial aircraft, consistent with the current worldwide economic environment. However, subsequent to quarter end, AMR Eagle Holding Corporation, the parent company of American Eagle Airlines, Inc., signed a firm order agreement for 22 CRJ700 regional jets, for a value of approximatel y %24;779 million. The transaction represents the conversion of 22 of the options held by the airline. Despite this recent order, projected CRJ aircraft sales remain insufficient to maintain the current production plan. Bombardier Aerospace thus announced on November 26 a further reduction of the CRJ aircraft production rates.

Total deliveries of 61 aircraft compare to 80 for the same period last fiscal year with the Commercial Aircraft segment contributing 27 of these deliveries compared to 22 last fiscal year.

Bombardier Aerospace continues to invest in products, such as the CRJ1000 NextGen regional jet, the Global Vision flight deck, the Learjet 85 and the CSeries aircraft. Highlights of the CSeries program include the groundbreaking of the new testing facility in Mirabel, Canada, and the construction of a new state-of-the-art aircraft wing manufacturing and assembly facility in Belfast, Northern Ireland.

Bombardier Transportation

Bombardier Tr ansportation revenues rose to %24;2.5 billion, a %24;254-million increase over the same period last fiscal year. EBIT reached %24;159 million, up from %24;120 million a year ago, while EBIT margin increased to 6.3% versus 5.3%. Free cash flow reached %24;32 million, compared to a usage of %24;243 million last fiscal year. The order backlog stood at %24;29.3 billion as at October 31, 2009, compared to %24;24.7 billion as at January 31, 2009, mainly due to a positive currency impact.

Economic uncertainty continues to affect the rail industry with low funding availability for the private sector and an ongoing decline in freight traffic. As a result, Bombardier Transportation's freight locomotives and services segments are seeing a lower level of activity. On a positive note, Bombardier Transportation reported new orders worth %24;3.6 billion, compared to %24;2.8 billion last fiscal year, leading to a book-to-bill ratio of 1.4. In September 2009, Bombardier Sifang Transpo rtation won a %24;4 billion landmark contract to supply 80 ZEFIRO 380 very high speed trains capable of speeds of up to 380 km/h for the Chinese Ministry of Railways. Bombardier's share of the contract is worth %24;2 billion.

The group also signed a contract for 99 FLEXITY trams, valued at %24;431 million, for Berlin's transport operator BVG (Berliner Verkehrsbetriebe).

Subsequent to the quarter, Bombardier Transportation received an order for 100 E464 locomotives from Trenitalia, Italian Railways, amounting to approximately %24;383 million.

Financial highlights

(Unaudited, in millions of U.S. dollars, except per share amounts, which

are shown in dollars)

< TD align=right>1  
 
 
 
 
 
 
 
 
 
 
Three-month  
periods  
&n bsp;
                    ended   October   31  
            2009             2008  
          &n bsp;           Restated(1)    
    BA     BT     Total     BA     BT     Total  
Revenues   $   2,064   $   2,533   $   4,597   $   2,292   $   2,279   $   4,571  
EBITDA   $   197   $   191   $   388   $   288   $   147   $   435  
Amortization     94     32     126     112     27     139  
EBIT   $   103   $   159     262   $   176   $   120     296  
Financing income             -29             -80  
Financing expense             70         ;     105  
EBT             221             271  
Income taxes             53             45  
Net income           $   168           $   226  
Attributable to:                          
Shareholders of Bombardier Inc.           $   167           $   222  
Non-controlling interests           $  
        $   4  
                         
Basic & diluted EPS (in dollars)   < font SIZE=1 FACE=Verdana, Arial, Helvetica, sans-serif>         $   0.09           $   0.12  
Segmented free cash flow   $   61   $   32   $   93   $   9   $   -243   $   -234  
Income taxes and net financing expense             -21             8  
Free cash flow           $   72           $   -226  


 
 
 
 
 
 
 
 
 
 
Nine-month  
periods  
 
                    ended   October   31  
            2009             2008  
                      Restated(1)    
    BA     BT     Total     BA     BT     Tot al  
Revenues   $   6,682   $   7,332   $   14,014   $   7,188   $   7,104   $   14,292  
EBITDA &nbs
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