Bombardier Reports Third Quarter 2016 Results
(Thomson Reuters ONE) -
Bombardier Inc. /
Bombardier Reports Third Quarter 2016 Results
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
- Expects full year profitability(1) at high end of guidance range(2)
- Significantly improved year-over-year cash performance
- Reports margin expansion(1) at Business Aircraft, Transportation and
Aerostructures
- Achieves Global 7000 first flight; on track for 2018 entry-into-service
MONTREAL, QUEBEC--(Marketwired - Nov 10, 2016) - Bombardier
(TSX:BBD.A)(TSX:BBD.B)(OTCQX:BDRBF) today reported its third quarter 2016
results and highlighted solid performance executing its turnaround plan.
"We continue to gain momentum as we execute our turnaround plan and transform
our company," said Alain Bellemare, President and Chief Executive Officer,
Bombardier Inc. "In the third quarter, we again delivered on our financial
commitments, we achieved our program milestones and we continued to take the
hard actions necessary to improve productivity, reduce costs and optimize our
operations."
With strong year-to-date performance, Bombardier reaffirmed its guidance and
announced that it expects to finish the year at the high end of its EBIT
guidance, with better operating margins((1)) at each of its business units and
with significantly improved year-over-year cash performance((2)). For the third
consecutive quarter, EBIT margins before special items((3)) at Transportation,
Business Aircraft, and Aerostructures and Engineering Services have exceeded
6%, showing early benefits of the Company's turnaround plan. Further
highlighting the Company's progress is the recent first flight of the Global
7000; Bombardier's all new class-defining ultra-long range business jet that is
on schedule to enter service in 2018.
"As we close out 2016, we are confident in our strategy, our turnaround plan and
in our ability to achieve our 2020 goals," Bellemare continued. "We remain
focused on improving operational efficiency, flawlessly ramping-up our new
programs and maintaining a disciplined and proactive approach to deliver value
to customers and shareholders in any market environment."
Bombardier also announced that it will hold an Investor Day meeting on Thursday,
December 15, 2016. Hosted by Alain Bellemare, the meeting will include
disclosure of guidance for 2017 and presentations by the Company's business
segment leaders.
SELECTED RESULTS
Results of the quarter
-------------------------------------------------------------------------------
Three-month periods ended
September 30 2016 2015
-------------------------------------------------------------------------------
Revenues $ 3,736 $ 4,138
EBIT $ 63 $ (4,635 )
EBIT margin 1.7 % nmf
EBIT before special items((3)) $ 87 $ 75
EBIT margin before special
items 2.3 % 1.8 %
EBITDA before special
items((3)) $ 172 $ 179
EBITDA margin before special
items((3)) 4.6 % 4.3 %
Net loss $ (94 ) $ (4,888 )
Diluted EPS (in dollars) $ (0.04 ) $ (2.20 )
Adjusted net income (loss)((3)) $ (10 ) $ 2
Adjusted EPS (in dollars)((3)) $ 0.00 $ 0.00
Net additions to PP&E and
intangible assets $ 248 $ 501
Free cash flow usage((3)) $ (320 ) $ (816 )
-------------------------------------------------------------------------------
Results year-to-date
-------------------------------------------------------------------------------
Nine-month periods ended September
30 2016 2015
-------------------------------------------------------------------------------
Revenues $ 11,959 $ 13,155
EBIT $ (132 ) $ (4,181 )
EBIT margin (1.1 )% nmf
EBIT before special items $ 323 $ 538
EBIT margin before special items 2.7 % 4.1 %
EBITDA before special items $ 595 $ 853
EBITDA margin before special items 5.0 % 6.5 %
Net loss $ (722 ) $ (4,663 )
Diluted EPS (in dollars) $ (0.36 ) $ (2.30 )
Adjusted net income (loss) $ (127 ) $ 317
Adjusted EPS (in dollars) $ (0.09 ) $ 0.14
Net additions to PP&E and
intangible assets $ 874 $ 1,319
Free cash flow usage $ (1,560 ) $ (2,369 )
-------------------------------------------------------------------------------
September
As at 30, 2016 December 31, 2015
-------------------------------------------------------------------------------
Available short-term capital
resources((4)) $ 4,446 $ 4,014
-------------------------------------------------------------------------------
All amounts in this press release are in U.S. dollars unless otherwise
indicated.
Amounts in tables are in millions except per share amounts, unless otherwise
indicated.
Bombardier reported consolidated revenues of $3.7 billion in the quarter and
$12.0 billion in the nine-month period, following the planned reduction in
business aircraft revenues and the deferral of revenue recognition following
active project and cash management in Transportation.
EBIT before special items was $87 million and $323 million respectively for the
quarter and year-to-date period, as margin improvements at Business Aircraft,
Transportation and Aerostructures and Engineering Services were partially offset
by the production ramp-up effect of the C Series aircraft program. Free cash
flow usage improved by $496 million and $809 million respectively for the
quarter and the nine-month period, reflecting continuous cash discipline and
lower development spend following the certification of both the CS100 and CS300
aircraft. With the completion of the equity investment by the Government of
Québec (through Investissement Québec), Bombardier boasted a strong liquidity
position of $4.4 billion as at September 30, 2016.
These results give Bombardier strong confidence in exceeding its profitability
targets((1)) in all its business segments, leading to a consolidated EBIT before
special items guidance between $350 million and $400 million for 2016. The
Company is also refining its revenue guidance to approximately $16.5 billion and
confirming its consolidated free cash flow usage guidance to the range of $1.15
billion to $1.45 billion, as previously announced, following a revised delivery
forecast for the C Series aircraft program as a result of engine delivery
delays((2)).
SEGMENTED RESULTS AND HIGHLIGHTS
Business Aircraft
Results of the
quarter
-------------------------------------------------------------------------------
Three-month periods
ended September 30 2016 2015 Variance
-------------------------------------------------------------------------------
Revenues $ 1,314 $ 1,558 (16 )%
Aircraft deliveries
(in units) 36 43 (7 )
Net orders (in units) 22 (32 ) 54
Book-to-bill
ratio((5)) 0.6 nmf nmf
EBIT $ 84 $ (1,115 ) nmf
EBIT margin 6.4 % nmf nmf
EBIT before special
items $ 84 $ 54 56 %
EBIT margin before
special items 6.4 % 3.5 % 290 bps
EBITDA before special
items $ 120 $ 99 21 %
EBITDA margin before
special items 9.1 % 6.4 % 270 bps
Net additions to PP&E
and intangible assets $ 165 $ 172 (4 )%
-------------------------------------------------------------------------------
As at September 30, 2016 December 31, 2015
-------------------------------------------------------------------------------
Order backlog (in
billions of dollars) $ 16.5 $ 17.2 (4 )%
-------------------------------------------------------------------------------
* For the third consecutive quarter, we had strong delivery performance. In
the nine-month period ended September 30, 2016, we delivered 109 aircraft
and achieved a book-to-bill ratio((5) )of 0.8.
* We realized an EBIT margin before special items of 6.6% for the nine-month
period ended September 30, 2016, driven by business model enhancements and
transformation initiatives.
* Based on results to date, we are increasing guidance for the year to
revenues of approximately $5.5 billion, over 150 deliveries, and EBIT margin
before special items greater than 6%((2)).
Commercial Aircraft
Results of the quarter
-------------------------------------------------------------------------------
Three-month periods ended September 30 2016 2015 Variance
-------------------------------------------------------------------------------
Revenues $ 538 $ 480 12 %
Aircraft deliveries (in units) 16 14 2
Net orders (in units) (9 ) 2 (11 )
Book-to-bill ratio((5)) nmf 0.1 nmf
EBIT $ (107 ) $ (3,624 ) nmf
EBIT margin (19.9 )% nmf nmf
EBIT before special items $ (107 ) $ (63 ) (70 )%
EBIT margin before special items (19.9 )% (13.1 )% (680) bps
EBITDA before special items $ (96 ) $ (40 ) (140 )%
EBITDA margin before special items (17.8 )% (8.3 )% (950) bps
Net additions to PP&E and intangible
assets $ 47 $ 299 (84 )%
-------------------------------------------------------------------------------
* On July 11, 2016, the CS300 aircraft obtained its type certification from
Transport Canada (TC). Our focus now is improving efficiency while ramping
up to full production, continuing to increase our order backlog, delivering
the C Series aircraft and providing customer support.
* Following the first CS100 aircraft delivery to launch operator Swiss
International Air Lines (SWISS) on June 29, 2016, the aircraft achieved a
successful entry-into-service on July 15, 2016 with its maiden commercial
flight taking passengers from Zurich to Paris. SWISS currently has three
CS100 aircraft in service.
* We adjusted the delivery forecast for the C Series aircraft program for the
full year, from 15 to 7 aircraft, as a result of engine delivery delays by
our supplier Pratt & Whitney. We also updated Commercial Aircraft's guidance
to revenues of approximately $2.7 billion and improved EBIT loss before
special items to approximately $450 million, driven by strong cost
management((2)).
Aerostructures and Engineering Services
Results of the quarter
---------------------------------------------------------------------------
Three-month periods ended September 30 2016 2015 Variance
---------------------------------------------------------------------------
Revenues $ 337 $ 411 (18 )%
External order intake $ 104 $ 110 (5 )%
External book-to-bill ratio((6)) 1.0 0.9 0.1
EBIT $ 20 $ 30 (33 )%
EBIT margin 5.9 % 7.3 % (140) bps
EBIT before special items $ 29 $ 30 (3 )%
EBIT margin before special items 8.6 % 7.3 % 130 bps
EBITDA before special items $ 42 $ 43 (2 )%
EBITDA margin before special items 12.5 % 10.5 % 200 bps
Net additions to PP&E and intangible assets $ 7 $ 1 600 %
---------------------------------------------------------------------------
* We are revising Aerostructures and Engineering Services revenue guidance to
approximately $1.6 billion and EBIT margin before special items guidance to
approximately 8% for the full year 2016((2)).
Transportation
Results of the
quarter
-------------------------------------------------------------------------------
Three-month periods
ended September 30 2016 2015 Variance
-------------------------------------------------------------------------------
Revenues $ 1,782 $ 1,985 (10 )%
Order intake (in
billions of dollars) $ 2.9 $ 2.2 32 %
Book-to-bill
ratio((7)) 1.6 1.1 0.5
EBIT $ 125 $ 109 15 %
EBIT margin 7.0 % 5.5 % 150 bps
EBIT before special
items $ 140 $ 109 28 %
EBIT margin before
special items 7.9 % 5.5 % 240 bps
EBITDA before special
items $ 164 $ 131 25 %
EBITDA margin before
special items 9.2 % 6.6 % 260 bps
Net additions to PP&E
and intangible assets $ 28 $ 29 (3 )%
-------------------------------------------------------------------------------
As at September 30, 2016 December 31, 2015
-------------------------------------------------------------------------------
Order backlog (in
billions of dollars) $ 31.0 $ 30.4 2 %
-------------------------------------------------------------------------------
* Our operational transformation is gaining traction. During the three-month
period ended September 30, 2016, the EBIT margin before special items
further improved to 7.9%, for an EBIT margin before special items of 6.7%
for the nine-month period.
* Based on results to date, we are increasing profitability guidance((1)) for
the year to above 6.5% and revising Transportation's full year revenue
guidance for 2016 to approximately $8.0 billion.((2))
* InnoTrans, the world's largest fair for transport technology, was held in
September 2016 in Berlin, Germany. As an innovation driver, we launched new
state-of-the-art mobility solutions such as our TALENT 3 and introduced our
MOVIA Maxx platform concept and OPTIFLO signalling system.
* In September 2016, we signed contracts with Angel Trains and Abellio Greater
Anglia in the U.K. to supply 665 AVENTRA vehicles and maintenance services
for Abellio's East Anglia rail franchise. The contracts are valued at a
total of approximately $1.2 billion, leading to a book-to-bill ratio((7)) of
1.6 for the quarter.
* In September 2016, we signed a strategic agreement with the Chinese rolling
stock manufacturer, China Railway Rolling Stock Corporation (CRRC), to
expand and deepen our relationship. The agreement establishes a framework to
leverage our complementary strengths for selected projects in order to
provide additional value to customers, better serve the growing global rail
transportation equipment market and support mutual long-term growth
objectives. Areas of potential future cooperation include Chinese and
international market development and shared manufacturing resources.
About Bombardier
Bombardier is the world's leading manufacturer of both planes and trains.
Looking far ahead while delivering today, Bombardier is evolving mobility
worldwide by answering the call for more efficient, sustainable and enjoyable
transportation everywhere. Our vehicles, services and, most of all, our
employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the
Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability
North America index. In the fiscal year ended December 31, 2015, we posted
revenues of $18.2 billion. News and information are available at
www.bombardier.com or follow us on Twitter (at)Bombardier.
AVENTRA, Bombardier, CS100, CS300, C Series, Global, Global 7000, MOVIA,
OPTIFLO, TALENT and The Evolution of Mobility are trademarks of Bombardier Inc.
or its subsidiaries.
The Management's Discussion and Analysis and the Interim Consolidated Financial
Statements are available at ir.bombardier.com.
bps: basis points
nmf: information not meaningful
((1)) Defined as EBIT or EBIT margin before special items. Non-GAAP financial
measures. See Caution regarding non-GAAP measures at the end of this press
release.
((2)) Refer to the Forward-looking statements section at the end of this press
release and to the 2016 guidance update section of the Corporation's MD&A for
more details.
((3) )Non-GAAP financial measures. See Caution regarding non-GAAP measures at
the end of this press release.
((4)) Defined as cash and cash equivalents plus the amount available under the
revolving credit facilities.
((5))Defined as net orders received over aircraft deliveries, in units.
((6) )Defined as new external orders over external revenues.
((7)) Defined as new orders over revenues.
CAUTION REGARDING NON-GAAP MEASURES
This press release is based on reported earnings in accordance with
International Financial Reporting Standards (IFRS). Reference to generally
accepted accounting principles (GAAP) means IFRS, unless indicated otherwise.
This press release includes non-GAAP financial measures, including EBIT before
special items, EBIT margin before special items, free cash flow and free cash
flow usage. These non-GAAP measures are mainly derived from the interim
consolidated financial statements but do not have standardized meanings
prescribed by IFRS. The exclusion of certain items from non-GAAP performance
measures does not imply that these items are necessarily non-recurring. From
time to time, we may exclude additional items if we believe doing so would
result in a more transparent and comparable disclosure. Other entities in our
industry may define similarly-named non-GAAP measures differently than we do. In
those cases, it may be difficult to compare the performance of those entities to
ours based on these similarly-named non-GAAP measures.
Management believes that providing certain non-GAAP performance measures, in
addition to IFRS measures, provides users of this presentation and of our
interim financial report with enhanced understanding of our results and related
trends and increases the transparency and clarity of the core results of our
business. For these reasons, a significant number of users of our financial
report and of this presentation analyze our results based on these performance
measures. For instance, EBIT before special items excludes items that do not
reflect our core performance or where their exclusion will assist users in
understanding our results for the period. Management believes these measure help
users of our financial report and of this press release to better analyze
results, enabling better comparability of our results from one period to another
and with peers.
Refer to the Non-GAAP financial measures section in Overview in the
Corporation's MD&A for definitions of these metrics and refer below for
reconciliations to the most comparable IFRS measures.
Reconciliation of segment to consolidated results
-------------------------------------------------------------------------------
Three-month periods Nine-month periods
ended September 30 ended September 30
-------------------------------------------------------------------------------
2016 2015 2016 2015
-------------------------------------------------------------------------------
Revenues
Business Aircraft $ 1,314 $ 1,558 $ 4,090 $ 4,910
Commercial Aircraft 538 480 1,918 1,751
Aerostructures and
Engineering Services 337 411 1,230 1,354
Transportation 1,782 1,985 5,626 6,117
Corporate and
Elimination (235 ) (296 ) (905 ) (977 )
-------------------------------------------------------------------------------
$ 3,736 $ 4,138 $ 11,959 $ 13,155
-------------------------------------------------------------------------------
EBIT before special
items
Business Aircraft $ 84 $ 54 $ 269 $ 280
Commercial Aircraft (107 ) (63 ) (276 ) (83 )
Aerostructures and
Engineering Services 29 30 94 113
Transportation 140 109 379 342
Corporate and
Elimination (59 ) (55 ) (143 ) (114 )
-------------------------------------------------------------------------------
$ 87 $ 75 $ 323 $ 538
-------------------------------------------------------------------------------
Special Items
Business Aircraft $ - $ 1,169 $ (109 ) $ 1,180
Commercial Aircraft - 3,561 483 3,560
Aerostructures and
Engineering Services 9 - (10 ) (1 )
Transportation 15 - 144 -
Corporate and
Elimination - (20 ) (53 ) (20 )
-------------------------------------------------------------------------------
$ 24 $ 4,710 $ 455 $ 4,719
-------------------------------------------------------------------------------
EBIT
Business Aircraft $ 84 $ (1,115 ) $ 378 $ (900 )
Commercial Aircraft (107 ) (3,624 ) (759 ) (3,643 )
Aerostructures and
Engineering Services 20 30 104 114
Transportation 125 109 235 342
Corporate and
Elimination (59 ) (35 ) (90 ) (94 )
-------------------------------------------------------------------------------
$ 63 $ (4,635 ) $ (132 ) $ (4,181 )
-------------------------------------------------------------------------------
Reconciliation of EBITDA before special items and EBITDA to EBIT
-------------------------------------------------------------------------------
Nine-month
periods
Three-month periods ended September
ended September 30 30
-------------------------------------------------------------------------------
2016 2015 2016 2015
-------------------------------------------------------------------------------
EBIT $ 63 $ (4,635 ) $ (132 ) $ (4,181 )
Amortization 85 104 272 315
Impairment charges on PP&E and
intangible assets((1)) - 4,004 - 4,004
-------------------------------------------------------------------------------
EBITDA 148 (527 ) 140 138
Special items excluding
impairment charges on PP&E and
intangible assets((1)) 24 706 455 715
-------------------------------------------------------------------------------
EBITDA before special items $ 172 $ 179 $ 595 $ 853
-------------------------------------------------------------------------------
((1)) Refer to the Consolidated results of operations section in the
Corporation's MD&A for details regarding special items.
Reconciliation of adjusted net income to net income
-------------------------------------------------------------------------------
Three-month periods ended September 30
-------------------------------------------------------------------------------
2016 2015
-------------------------------------------------------------------------------
(per share) (per share)
-------------------------------------------------------------------------------
Net loss $ (94 ) $ (4,888 )
Adjustments to EBIT related
to special items 24 $ 0.01 4,710 $ 2.11
Adjustments to net financing
expense related to:
Net change in provisions
arising from changes in
interest rates and net loss
on certain financial
instruments 50 0.02 57 0.03
Accretion on net retirement
benefit obligations 16 0.01 18 0.01
Tax impact of special and
other adjusting items (6 ) 0.00 105 0.05
-------------------------------------------------------------------------------
Adjusted net income (loss) $ (10 ) $ 2
-------------------------------------------------------------------------------
Reconciliation of adjusted net income to net income
-------------------------------------------------------------------------------
Nine-month periods ended
September 30
-------------------------------------------------------------------------------
2016 2015
-------------------------------------------------------------------------------
(per share) (per share)
-------------------------------------------------------------------------------
Net loss $ (722 ) $ (4,663 )
Adjustments to EBIT related to special
items 455 $ 0.21 4,719 $ 2.31
Adjustments to net financing expense
related to:
Net change in provisions arising from
changes in interest rates and net loss
on certain financial instruments 75 0.03 80 0.04
Accretion on net retirement benefit
obligations 50 0.02 55 0.03
Interest related to tax litigation 26 0.01 - -
Transaction costs related to the
conversion option embedded in the CDPQ
investment 8 0.00 - -
Loss on repurchase of long-term debt - - 22 0.01
Tax impact of special and other adjusting
items (19 ) 0.00 104 0.05
-------------------------------------------------------------------------------
Adjusted net income (loss) $ (127 ) $ 317
-------------------------------------------------------------------------------
Reconciliation of adjusted EPS to diluted EPS (in dollars)
-------------------------------------------------------------------------------
Three-month periods ended September 30
-------------------------------------------------------------------------------
2016 2015
-------------------------------------------------------------------------------
Diluted EPS $ (0.04 ) $ (2.20 )
Impact of special and other adjusting items 0.04 2.20
-------------------------------------------------------------------------------
Adjusted EPS $ 0.00 $ 0.00
-------------------------------------------------------------------------------
Reconciliation of adjusted EPS to diluted EPS (in dollars)
-------------------------------------------------------------------------------
Nine-month periods ended September 30
-------------------------------------------------------------------------------
2016 2015
-------------------------------------------------------------------------------
Diluted EPS $ (0.36 ) $ (2.30 )
Impact of special and other
adjusting items 0.27 2.44
-------------------------------------------------------------------------------
Adjusted EPS $ (0.09 ) $ 0.14
-------------------------------------------------------------------------------
Reconciliation of free cash flow usage to cash flows from operating
activities
-------------------------------------------------------------------------------
Nine-month
periods
Three-month periods ended ended September
September 30 30
-------------------------------------------------------------------------------
2016 2015 2016 2015
-------------------------------------------------------------------------------
Cash flows from
operating activities $ (72 ) $ (315 ) $ (686 ) $ (1,050 )
Net additions to PP&E
and intangible assets (248 ) (501 ) (874 ) (1,319 )
-------------------------------------------------------------------------------
Free cash flow usage $ (320 ) $ (816 ) $ (1,560 ) $ (2,369 )
-------------------------------------------------------------------------------
FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements, which may involve, but
are not limited to: statements with respect to the Corporation's objectives,
guidance, targets, goals, priorities, market and strategies, financial position,
beliefs, prospects, plans, expectations, anticipations, estimates and
intentions; general economic and business outlook, prospects and trends of an
industry; expected growth in demand for products and services; product
development, including projected design, characteristics, capacity or
performance; expected or scheduled entry-into-service of products and services,
orders, deliveries, testing, lead times, certifications and project execution in
general; competitive position; the expected impact of the legislative and
regulatory environment and legal proceedings on the Corporation's business and
operations; available liquidities and ongoing review of strategic and financial
alternatives; the effects of the investment by the Government of Québec in the C
Series Aircraft Limited Partnership (the C Series Investment) and of the private
placement of a minority stake in Transportation by the CDPQ (the CDPQ Investment
and, with the C Series Investment, the Investments) on the range of options
available to us, including regarding our participation in future industry
consolidation; the capital and governance structure of the Transportation
segment following the CDPQ Investment, and of the Commercial Aircraft segment
following the C Series Investment; the impact and expected benefits of the
Investments on our operations, infrastructure, opportunities, financial
condition, access to capital and overall strategy; and the impact of the
Investments on our balance sheet and liquidity position.
Forward-looking statements can generally be identified by the use of forward-
looking terminology such as "may", "will", "expect", "intend", "anticipate",
"plan", "foresee", "believe", "continue", "maintain" or "align", the negative of
these terms, variations of them or similar terminology. By their nature,
forward-looking statements require management to make assumptions and are
subject to important known and unknown risks and uncertainties, which may cause
our actual results in future periods to differ materially from forecast results
set forth in forward-looking statements. While management considers these
assumptions to be reasonable and appropriate based on information currently
available, there is risk that they may not be accurate.
Certain factors that could cause actual results to differ materially from those
anticipated in the forward-looking statements include, but are not limited to,
risks associated with general economic conditions, risks associated with our
business environment (such as risks associated with the financial condition of
the airline industry, business aircraft customers, and of the rail industry;
trade policy; increased competition; political instability and force majeure),
operational risks (such as risks related to developing new products and
services; development of new business; the certification and homologation of
products and services; fixed-price and fixed-term commitments and production and
project execution; pressures on cash flows based on project-cycle fluctuations
and seasonality; our ability to successfully implement and execute our strategy
and transformation plan; doing business with partners; product performance
warranty and casualty claim losses; regulatory and legal proceedings; the
environment; dependence on certain customers and suppliers; human resources;
reliance on information systems; reliance on and protection of intellectual
property rights; and adequacy of insurance coverage), financing risks (such as
risks related to liquidity and access to capital markets; retirement benefit
plan risk; exposure to credit risk; substantial existing debt and interest
payment requirements; certain restrictive debt covenants; financing support
provided for the benefit of certain customers; and reliance on government
support), market risks (such as risks related to foreign currency fluctuations;
changing interest rates; decreases in residual values; increases in commodity
prices; and inflation rate fluctuations). For more details, see the Risks and
uncertainties section in Other in the Management's Discussion and Analysis
(MD&A) of the Corporation's financial report for the fiscal year ended December
31, 2015. For additional information with respect to the assumptions underlying
the forward-looking statements made in this press release, refer to the Guidance
and forward-looking statements sections in the MD&A of the Corporation's
financial report for the fiscal year ended December 31, 2015.
Readers are cautioned that the foregoing list of factors that may affect future
growth, results and performance is not exhaustive and undue reliance should not
be placed on forward-looking statements. The forward-looking statements set
forth herein reflect management's expectations as at the date of this press
release and are subject to change after such date. Unless otherwise required by
applicable securities laws, the Corporation expressly disclaims any intention,
and assumes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The forward-
looking statements contained in this press release are expressly qualified by
this cautionary statement.
Contact Information
Simon Letendre
Senior Advisor, Public Affairs
Bombardier Inc.
+514 861 9481
Patrick Ghoche
Vice President, Investor Relations
Bombardier Inc.
+514 861 5727
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bombardier Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2016 - 12:42 Uhr
Sprache: Deutsch
News-ID 506259
Anzahl Zeichen: 42859
contact information:
Town:
West Montreal, QC
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 194 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Bombardier Reports Third Quarter 2016 Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Bombardier Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
