Comunicato stampa : BOMBARDIER INC.

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Alla cortese attenzione della Redazione - Servizio Borsa / Finanza


 BOMBARDIER INC.


BOMBARDIER INC. : Bombardier annuncia i risultati finanziari per il quarto trimestre e per l'esercizio chiusi il 31 gennaio 2010
01/04/2010 18:42:00



Bombardier annuncia i risultati finanziari per il quarto trimestre e per l'esercizio chiusi il 31 gennaio 2010

MONTREAL, QUEBEC--(Marketwire - 1 aprile 2010) - Bombardier Inc. (TSX: BBD.A)(TSX: BBD.B)

(tutti gli importi nel presente comunicato stampa sono in dollari USA se non diversamente indicato). Principali dati relativi all'esercizio

-- Redditi consolidati pari a 19,4 miliardi di dollari, rispetto a 19,7 miliardi dell'esercizio precedente -- EBITDA di 1,6 miliardi di dollari, rispetto a 2 miliardi dell'esercizio precedente -- EBIT di 1,1 miliardi di dollari, rispetto a 1,4 miliardi dell'esercizio precedente -- Reddito netto di 707 milioni di dollari (EPS di 0,39 dollari), rispetto a 1 miliardo (EPS di 0,56 dollari) dell'esercizio precedente -- Free cash flow usage of $215 million, compared to a free cash flow of $342 million last fiscal year -- Strong cash position of $3.4 billion -- Backlog of $43.8 billion -- Subsequent to year-end, implementation of a long-term debt-refinancing plan resulting in the extension of debt maturities and a cash increase of approximately $500 million

Bombardier today reported good overall financial results for the fourth quarter and the year ended January 31, 2010 in a difficult economic environment. Revenues reached $19.4 billion, compared to $19.7 billion last fiscal year. Earnings before financing income, financing expense and income taxes (EBIT) totalled $1.1 billion, compared to $1.4 billion last fiscal year. EBIT margin at 5.7% compares to last year's 7.2%. Net income reached $707 million, compared to $1 billion last fiscal year. Diluted earnings per share (EPS) reached $0.39, compared to $0.56 last fiscal year.

Free cash flow (cash flows from operating activities less net additions to property, plant and equipment and intangible assets) usage of $215 million compared to a free cash flow of $342 million last fiscal year. The cash position remained strong at $3.4 billion as at January 31, 2010, a level similar to January 31, 2 009. The overall backlog stood at $43.8 billion as at January 31, 2010, compared to $48.2 billion as at January 31, 2009.

"Against a challenging economic backdrop, we delivered good financial results. We took the downturn as an opportunity to fine-tune the way we operate in order to execute better and cut costs intelligently, said Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc."

"In Aerospace, we took the necessary steps to adapt to the economic reality by carefully monitoring capital expenditures and reducing our production rates for both business and regional jets. We met our target deliveries and increased our market share in both segments. Keeping our sight on the long term, we continued to invest in the development of our new flagship products, the Learjet 85 business jet and the CSeries commercial aircraft for which we have now received 90 orders."

"The rail market remained resilient. Bombardier Transportation increa sed both revenues and profitability. The group posted a 6.2% EBIT margin exceeding the 6% target set four years ago. The level of activity in traditional markets remained robust and we won breakthrough contracts such as the order for 80 ZEFIRO very high speed trains in China and, more recently, an $11-billion framework agreement with the SNCF for regional trains."

"Sharpening our execution, investing in our people and products, being socially responsible: these are the drivers of profitable growth at Bombardier," concluded Mr. Beaudoin.

In March 2010, Bombardier Inc. issued $1.5 billion of unsecured long-term debt maturing in calendar years 2018 and 2020. The proceeds are intended to be used to repurchase approximately $1 billion of existing long-term debt maturing from calendar years 2012 to 2014, thus extending Bombardier's debt maturity profile. The balance of approximately $500 million will be used for general corporate purposes.

Bomb ardier Aerospace

At Bombardier Aerospace, revenues totalled $9.4 billion compared to $10 billion last fiscal year, while EBIT reached $473 million, or 5.1% of revenues, compared to $896 million, or 9%, for the same period last year. Bombardier Aerospace's backlog reached $16.7 billion as at January 31, 2010, compared to $23.5 billion at the same date last year.

The group recorded 11 net orders (213 gross orders and 202 cancellations) in fiscal year 2010, compared to 367 net orders (423 gross orders and 56 cancellations) last fiscal year. Deliveries totalled 302 aircraft, versus 349 last fiscal year.

Bombardier Aerospace delivered 176 business aircraft in fiscal year 2010, compared to 235 aircraft last year. In spite of this lower level of deliveries, Business aircraft increased its revenue market share leadership to 32% compared to 31% last year. Commercial Aircraft delivered 121 units in fiscal year 2010, compared to 110 aircraft in the previous year and also increased its market share to 44% this year from 37% last year. Bombardier Aerospace expects to deliver approximately 15% less business aircraft and 20% fewer commercial aircraft in fiscal year 2011, compared to the previous fiscal year.

The development of new aircraft programs is evolving as planned. Flight testing on the CRJ1000 NextGen aircraft has resumed in February 2010 and its entry into service is scheduled for the second half of calender year 2010. The construction of a new manufacturing facility for key components of the Learjet 85 aircraft has begun in Queretaro, Mexico. The CSeries' Complete Integrated Aircraft Test Area (CIASTA) systems testing facility in Mirabel, Canada and the wing-manufacturing facility in Belfast, U.K., are also under construction.

In February 2010, Republic Airways Holdings Inc. signed an agreement to purchase 40 CSeries CS300 aircraft, with options for an additional 40 CS300 aircraft. The value of this contract, based on list price, is $3.1 billion which could increase to $6.3 billion if all options are exercised. Including this order, the backlog for the CSeries family of aircraft now stands at 90 firm orders.

Bombardier Transportation

Bombardier Transportation's revenues totalled $10 billion, compared to $9.8 billion last fiscal year. EBIT reached $625 million, compared to $533 million for last fiscal year. This represents an EBIT margin of 6.2%, versus 5.5% last fiscal year, exceeding the 6% target set four years ago.

The group reported a solid new order intake of $9.6 billion, compared to $9.8 billion last fiscal year with a book-to-bill ratio of 1.0 for both fiscal years. The order backlog stood at $27.1 billion as at January 31, 2010 compared to $24.7 billion last year.

During the year, Bombardier Transportation continued to drive innovation related to reliability, energy efficiency and tota l train performance for its customers worldwide. As an illustration, the group, through one of its joint ventures in China, signed a $4-billion landmark order to supply 80 ZEFIRO 380 very high speed trains to the Ministry of Railways of China, of which Bombardier's share represents $2.0 billion.

In February 2010, building on a successful year in both emerging and traditional markets, Bombardier Transportation signed an $11-billion framework agreement with the Societe Nationale des Chemins de fer Francais (SNCF) for the design and manufacture of 860 double-deck electrical multiple units (EMUs). Two firm orders for 129 trains valued at $1.6 billion were obtained subsequent to year-end under this framework agreement.

Optimization of Bombardier Transportation's geographic footprint, a better mix of contracts, improved execution and ongoing focus on reducing costs will contribute to further EBIT margin growth while maintaining market leadership.
< BR>FINANCIAL HIGHLIGHTS (Unaudited, in millions of U.S. dollars, except per share amounts, which are shown in dollars

< TD align=right>  
 
 
 
 
 
 
 
 
 
 
Fourth  
quarters  
 
                    ended   January   31  
            2010             2009 (1)  
    BA     BT     Total     BA     BT     Total  
Revenues   $   2,675   $   2,677   $   5,352   $   2,777   $   2,652   $   5,429  
EBITDA   $   196   $   221   $   417   $   380   $   197   $   577  
Amortization     90     39     129     109     30     139  
EBIT   $   106   $   182     288   $   271   $   167     438  
Financing income             -9             -47  
Financing expense             69             103  
EBT             228             382  
Income taxes        < /font>     49             70  
Net income           $   179           $   312  
Attributable to:                    </ font>      
Shareholders of Bombardier Inc.           $   177           $   309  
Non-controlling interests           $   2           $   3  
EPS (in dollars):                          
Basic           $   0.1         &nbs p; $   0.17  
Diluted           $   0.1           $   0.17  
Segmented free cash flow   $   212   $   372   $ & nbsp; 584   $   -271   $   360   $   89  
Income taxes and net financing expense      
    -72             -180  
Free cash flow           $   512           $   -91  


 
 
 
 
 
 
 
 
 
 
 
Fiscal  
years  
 
                    ended   January   31  
            2010             2009 (1)  
&nbs p;   BA     BT     Total     BA     BT     Total  
Revenues   $   9,357   $   10,009   $   19,366   $   9,965   $   9,756   $   19,721  
EBITDA   $   844   $   752  
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