Bombardier meets turnaround goals in 2016

Bombardier revenue down 13% – financial highlights:

• Three months ended 31-Dec-2016:
• • Revenue: USD4380 million, -12.7% year-on-year;
  • • Commercial aircraft: USD699 million, +8.5%;
    • Aerostructures and engineering services: USD319 million, -28.0%;
  • EBIT (loss): USD74 million, compared to a loss of USD657 million in p-c-p;
  • • Commercial aircraft: (USD144 million), compared to a loss of USD327 million in p-c-p;
    • Aerostructures and engineering services: USD24 million, compared to a loss of USD9 million in p-c-p;
  • Net profit (loss): (USD259 million), compared to a loss of USD677 million in p-c-p;
• 12 months ended 31-Dec-016:
• • Revenue: USD16,339 million, -10.1%;
  • • Commercial aircraft: USD2617 million, +9.3%;
    • Aerostructures and engineering services: USD1549 million, -13.8%;
  • EBIT (loss): (USD58 million), compared to a loss of USD4838 million in p-c-p;
  • • Commercial aircraft: (USD903 million), compared to a loss of USD3970 million in p-c-p;
    • Aerostructures and engineering services: USD128 million, +21.9%;
  • Net profit (loss): (USD981 million), compared to a loss of USD5340 million in p-c-p;
  • Total assets: USD22,826 million;
  • Cash and cash equivalents: USD3384 million;
  • Total liabilities: USD26,315 million. [more - original PR]

Bombardier: "Our turnaround plan is in full motion. In 2016, Bombardier delivered on its financial commitments. We met our program milestones and we've positioned the Company to achieve all of the financial goals in our five-year turnaround plan, including being cash flow break-even in 2018," Alain Bellemare, President and CEO. Source: Company statement, 16-Feb-2017.