Bombardier Exceeds Revised 2021 Guidance - 2021 reported revenues for the year of $6.1 billion, including business jet revenues of $6.0 billion, up 7% year-over-year, driven by higher deliveries, a favorable aircraft mix and strong aftermarket performance at $1.2 billion, up 25% year-over-year.
- 2021 adjusted EBITDA(1) rose 220% from the same period last year to $640 million, fueled by a better aircraft mix, Global 7500 aircraft learning curve progress, cost structure improvements and higher aftermarket contributions. Full year reported EBIT from continuing operations is at $241 million.
- Strong free cash flow(1) generation of $100 million from continuing operations for 2021, representing an improvement of $2.0 billion year-over-year, driven by earnings growth and strong order intake. Net additions to PP&E and intangible assets from continuing operations for the full year were $232 million. Adjusted liquidity(1) stands strong at $2.1 billion; cash and cash equivalents were $1.7 billion as of December 31, 2021.
- Full year unit book-to-bill(2) of greater than 1.5. Diversified backlog reached $12.2 billion at year end, representing a $1.5 billion increase year-over-year and a reflection of continued strong order intake.
- 2022 outlook(3) expected to outperform 2021 and is on track to meet 2025 objectives: the company anticipates delivering more than 120 units, exceeding $6.5 billion in revenues, increasing adjusted EBITDA by 29% compared to 2021 to greater than $825 million, increasing adjusted EBIT(1) to greater than $375 million, and achieving more than $50 million of positive free cash flow.
- Company to provide progress update on its five-year strategic plan during a virtual Investor Day on February 24, 2022.
All amounts in this press release are in U.S. dollars unless otherwise indicated.
Amounts in tables are in millions, unless otherwise indicated.
MONTREAL, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Bombardier (TSX: BBD.B) presented today its fourth quarter and full year 2021 results and provided 2022 guidance. In the landmark year that saw the company focus exclusively on designing, building and servicing the world’s best business jets, Bombardier reported increased revenues, a major rise in EBITDA and an increased and more diversified backlog, among other positive indicators. The positive trend is set to continue in 2022.
“The words that best sum up 2021 for Bombardier are planning, execution and prudence. Today, the word that also comes to mind is pride. Everyone at Bombardier can be proud of what we achieved as we set out to execute the plan we outlined in March 2021,” said ric Martel, President and Chief Executive Officer, Bombardier. “Overall, the 2021 results are proof that our plan gave us both the structure and the agility to manage any outside obstacles and capitalize on a faster-than-expected industry recovery.”
https://www.globenewswire.com/news-release/2022/02/10/2382674/0/en/Bombardier-Exceeds-Revised-2021-Guidance-Delivers-Positive-Full-Year-Free-Cash-Flow-and-Provides-2022-Guidance-on-Track-Towards-2025-Objectives.html