Bombardier revenue down 13%, long-term outlook strong

Bombardier revenue down 13% - financial highlights for the three months ended 31-Oct-2010:

• Revenue: USD4015 million, -12.7% year-on-year;
  • Bombardier Aerospace: USD1843 million, -11%;
  • Commercial: USD431 million, -23.0%;
• Cost of sales: USD3302 million, -13.7%;
• EBITDA: USD332 million, -14.4%;
  • Bombardier Aerospace: USD160 million, -18.8%;
• EBIT: USD228 million, -13.0%;
  • Bombardier Aerospace: USD87 million, -15.5%;
• Net profit: USD141 million, -15.6%;
• Order backlog: USD48,900 million, +11.6% when compared with the period ended 31-Jan-2010;
• Aircraft deliveries:
  • Commercial aircraft: 19, -29.6%;
• Net aircraft orders:
  • Commercial: 10, compared with one aircraft in p-c-p;
• Assets: USD22,244 million, +4.6% when compared with period ended 31-Jan-2010;
• Cash and cash equivalents: USD2725 million, -19.2% when compared with period ended 31-Jan-2010;
• Liabilities: USD18,081 million, +3.3% when compared with period ended 31-Jan-2010. [more]

Bombardier: "While both markets are affected by the recession, we believe that the market fundamentals are strong in the long-term for new business and commercial aircraft. We reaffirm our guidance to deliver approximately 15% and 20% fewer business and commercial aircraft respectively in fiscal year 2011 compared to fiscal year 2010. Our overall BA EBIT margin for fiscal year 2011 is expected to be at a similar level as fiscal year 2010," Company statement. Source: Bombardier, 02-Dec-2010.