Bombardier Aerospace reports financial results for 2nd quarter 2012

Bombardier Aerospace’s revenues totalled $2.3bn, compared to $2.1bn last fiscal year. EBIT totalled $102m translating into an EBIT margin of 4.5% for the second quarter ended June 30, 2012, compared to $105m, or 5%, last fiscal year. Free cash flow usage totalled $504m compared to a usage of $448m for the corresponding period last fiscal year. A total of 62 aircraft were delivered during the second quarter ended June 30, 2012 compared to 56 for the corresponding period last fiscal year. Bombardier Aerospace’s backlog increased by 14.5% reaching $25.2bn as at June 30, 2012, compared to $22bn as at December 31, 2011. Bombardier Business Aircraft saw a strong level of order intake with 134 net orders compared to 43 for the corresponding period last fiscal year. This includes the conclusion with NetJets Inc. of the largest business aircraft order in Bombardier’s history, for 100 aircraft of the Challenger family, with options for 175 aircraft. Based on list prices, the value of the firm order is $2.6 billion and could increase to $7.3 billion if all options are exercised. In addition, NetJets Inc. and Bombardier entered into a long-term service agreement valued at $820 million, or $2.3 billion if all options are exercised.