With its strong portfolio of world-leading jets and an expanding service network, Bombardier is uniquely positioned to capitalize on the demand for both new jets and services. This strength supported consolidated cash generation of US$173 million for the first quarter of 2022, which represents a US$578 million improvement compared to the same quarter last year.
Bombardier’s revenues from business jet sales and aftermarket services totaled US$1.2 billion during the first quarter of 2022 as business jet utilisation and flight hours continued to rise around the world. The company delivered a total of 21 aircraft in the first quarter of 2022. Bombardier also reported record aftermarket revenues, a ~34% improvement over the same quarter last year. The strong demand was reflected also in the 2.5 unit book-to-bill ratio and a growing backlog that rose by US$1.3 billion to US$13.5 billion since the beginning of 2022.
In terms of profit, the company expanded its year-over-year adjusted EBITDA margin by 420 basis points to reach 13.4%. Adjusted EBITDA was at US$167 million, a 36% improvement over the same quarter last year, thanks mainly to higher aftermarket revenues, incremental Global 7500 contribution and cost structure improvements. The EBIT from continuing operations was US$85 million.
The company concluded the first quarter of 2022 with a landmark achievement for the industry flagship Global 7500. On March 30, 2022 it delivered the 100th Global 7500 to long-time client VistaJet. This is the 10th Global 7500 for VistaJet, which plans to welcome up to a total of 17 into its fleet by the end of 2022. (£1.00 = US$1.23 at time of publication).
