Bombardier profits fall

Victoria
By Victoria February 22, 2013 10:50

Bombardier profits fall

Bombardier has reported a 28.6% drop in net income to $598 million during 2012, with revenues for the year falling 8.2% to $16.8 billion. The manufacturer recorded a $119 million restructuring charge due to the closure of its Aachen plant in Germany.
“Our results for 2012 are not reflective of our potential,” Bombardier president and CEO Pierre Beaudoin said. “After proving our resilience throughout the economic crisis, today, Bombardier is at a turning point. With our outstanding backlog of $66.6 billion, an increase of 19% over last year, we’re forging ahead with breakthrough products and expanding our reach in pivotal growth markets.”
Bombardier Aerospace fared slightly better and managed to increase revenues 0.4% to $8.6 billion on slightly lower delivery numbers of 233 aircraft, compared to 245 delivered in the last fiscal year.
Bombardier Commercial Aircraft recorded 138 firm orders for the year, more than double the 54 firm orders recorded in the year ago period. The company forecasts the delivery of approximately 55 commercial aircraft in fiscal year 2013.
“In Aerospace, we were in line with our delivery guidance and we’ve garnered an impressive 481 net orders bringing our backlog to a record level of $32.9 billion at the end of 2012,” Beaudoin said. “In commercial aircraft, we had some significant orders for both jets and turboprops. Our development programs are making solid progress and the CSeries’ first flight will take place by the end of June 2013.”

Victoria
By Victoria February 22, 2013 10:50
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