Bombardier Aerospace’s revenues totalled $2.1 billion, compared to $1.9 billion last fiscal year. EBIT totalled $105 million translating into an EBIT margin of 5% for the second quarter ended July 31, 2011, compared to $101 million, or 5.2%, last fiscal year.
Free cash flow usage totalled $448 million compared to a usage of $343 million for the same period last fiscal year, reflecting the group’s continuing investments in its programs and a lower level of advances from customers. Given the economic uncertainty in the U.S. and Europe, Bombardier Aerospace expects a continued lower level of advances from customers than initially anticipated for the current fiscal year, mainly due to the postponement of orders in the regional aircraft market. Therefore, cash flows from operating activities will be lower than the group’s net investment in capital expenditures, resulting in a free cash flow usage for the current fiscal year.
A total of 56 aircraft were delivered during the second quarter ended July 31, 2011 compared to 49 for the same period last fiscal year. Bombardier Aerospace’s backlog increased by 20% reaching $23 billion as at July 31, 2011, compared to $19.2 billion as at January 31, 2011.
