Bombardier Aerospace announces financial results for first quarter 2014

Bombardier Aerospace’s revenues amounted to $2.1bn for the three-month period ended March 31, 2014, compared to $2.3bn for the same period last fiscal year. EBIT totalled $93m or 4.5% of revenues for the first quarter, compared to $101m, or 4.5%, last fiscal year. EBIT before special items totalled $105m, or 5.0% of revenues, for the first quarter 2014, compared to $101m, or 4.5%, last fiscal year. Free cash flow usage amounted to $545m (including net additions to PP&E and intangible assets of $484m) for the first quarter 2014, compared to a usage of $461m (including net additions to PP&E and intangible assets of $503m) for the same period last fiscal year. Bombardier Aerospace delivered a total of 56 aircraft during the first quarter 2014, compared to 53 for the same period last fiscal year, and received 91 net orders, compared to 28 for the same period last fiscal year. In Commercial Aircraft, Bombardier Aerospace received a total of 17 firm orders for Q400 NextGen turboprops from six customers, from North America, the Middle East and Asia-Pacific. It also signed a firm order with Al Qahtani Aviation Company from the Kingdom of Saudi Arabia for 16 CS300 aircraft, valued at $1.2bn based on list price, with options for an additional 10. As of today, the group has signed firm orders and other agreements for a total of 447 CSeries aircraft with 18 customers and operators in 15 countries, including 203 firm orders.