Bombardier revenue down 1.4%, EBIT drops sharply in 4Q2009

Bombardier revenue down 1.4% - financial highlights:

• Three months ended 31-Jan-2010:
  • Revenue: USD5,352 million, -1.4% year-on-year;
    • Bombardier Aerospace: USD2,675 million, -3.6%;
  • EBIT: USD288 million, -34.2%;
    • Bombardier Aerospace: USD106 million, -60.9%;
  • Aircraft deliveries:
    • Bombardier Aerospace: 86, -7.5%;
• 12 months ended 31-Jan-2010:
  • Revenue: USD19,366 million, -1.8%;
    • Bombardier Aerospace: USD9,400 million, -6.0%;
  • EBIT: USD1,098 million, -23.2%;
    • Bombardier Aerospace: USD473 million, -47.2%;
  • Net profit: USD707 million, -31.1%;
  • Aircraft deliveries:
    • Bombardier Aerospace: 302, -13.5%;
  • Order backlog:
    • Bombardier Aerospace: USD16,700 million, -28.9%. [more]

Bombardier: "BA expects to deliver approximately 15% and 20% fewer business and commercial aircraft respectively in fiscal year 2011 compared to fiscal year 2010. Overall, we expect improvements to lag economic recovery, therefore BA's EBIT margin for fiscal year 2011 is expected to be at a similar level as fiscal year 2010, but profitability should be higher in the second part of the year, reflecting the anticipated improvement in the pricing environment. BA's free cash flow in fiscal year 2011 is expected to be essentially neutral, as cash flows from operating activities will be used to finance capital expenditures, including the significant investments in product development, which are expected to approximately double compared to the USD611 million incurred in fiscal year 2010," Company statement. Source: Bombardier, 01-Apr-2010.