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Bombardier consolidated revenues reached $16.2 billion POST Online Media

Bombardier consolidated revenues reached $16.2 billion

Staff Writer | Thursday February 14, 2019 7:24AM ET
Bombardier
Bombardier   Bombardier’s consolidated backlog reached $53.1 billion at the end of 2018

Bombardier reported its fourth quarter and full year 2018 results, highlighting solid margin growth, improved cash flows and continued progress executing its turnaround plan.


The successful entry-into-service of the Global 7500 business jet in the fourth quarter also marked the completion of Bombardier’s heavy investment cycle, a key milestone in the company’s turnaround plan.

Bombardier’s 2018 consolidated revenues reached $16.2 billion, reflecting 3% average year-over-year growth across Transportation, Business Aircraft and Aerostructures, excluding currency impact.

Book-to-bill ratios at Transportation and Business Aircraft both equaled 1.1 for the year, demonstrating strong demand for Bombardier’s products and services.

Bombardier’s consolidated backlog reached $53.1 billion at the end of 2018, supporting future growth targets.

EBIT before special items continued to improve in 2018, increasing 42% year-over-year from $725 million to more than $1.0 billion, the top-end of the company’s guidance.

The 6.3% EBIT margin before special items in 2018 represents a strong 330 bps increase since the start of the turnaround plan in 2015, well above the 5-6% range originally targeted.

On a reported basis, EBIT increased 235% year-over-year to $1.0 billion, representing a margin of 6.2%.

Bombardier generated $1.0 billion of free cash flow in the fourth quarter of 2018.

Full year free cash flow generation equaled $182 million, at the high end of the company’s revised guidance.

This amount includes aggregate net proceeds of approximately $750 million from the sale of the Downsview property and the monetization of royalties associated with the previously announced CAE transaction.

Cash flows from operating activities amounted to $597 million for the full year, and to $1.3 billion in the fourth quarter.

Bombardier ended the year in a solid cash position, with $3.2 billion in cash and cash equivalents.

 

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