Bombardier posts earnings of $418m in fiscal year 2013

Bombardier Aerospace’s revenues amounted to $2.9bn for the three-month period ended December 31, 2013, compared to $2.6bn for the corresponding period last fiscal year. For the year, revenues totalled $9.4bn, compared to $8.6bn last fiscal year. For the fourth quarter ended December 31, 2013, EBIT totalled $93m, or 3.2% of revenues ($94m, or 3.3%, before special items), compared to $84m, or 3.2%, for the same quarter the previous year. EBIT before special items totalled $388m or 4.1% of revenues for the year ended December 31, 2013, compared to $367m, or 4.3% last fiscal year. For the year, EBIT was $418m, or 4.5% of revenues, compared to $390m, or 4.5%, last fiscal year. Free cash flow totalled $87m for the fourth quarter ended December 31, 2013, compared to $277m for the corresponding period last fiscal year. For the year ended December 31, 2013, free cash flow usage totalled $1.2bn compared to a usage of $867m for the last fiscal year. A total of 238 aircraft were delivered during the year ended December 31, 2013, compared to 233 for the last fiscal year, mostly in line with guidance.