Bombardier says US airlines rebounding, Q1 EBITDA up 52 pct to 314 mln usd |
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Tue, 29 May 2007 12:12
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LONDON (Thomson Financial) - Canadian aircraft and train maker Bombardier Inc said the US airline industry is recovering as it posted a 52 pct rise in first quarter pretax earnings before interest, depreciation and amortisation to 314 mln usd.Bombardier, which makes business and regional jets in Canada and in Belfast, Northern Ireland, said the industry is are bounding', demonstrated by a higher level of regional aircraft orders compared to last year.The Montreal-based group said its aircraft division, Bombardier Aerospace, is seeing a continuation of a substantial level of orders for business aircraft.It said its train-making unit, Bombardier Transportation, is also enjoying a robust order intake as it continues to focus on its margin and quality enhancement programme.Chairman and chief executive Laurent Beaudoin said: 'As both groups make progress toward their EBIT targets, we are seeing overall improvement in profitability and cash flow generation.'With the combination of our various initiatives yielding improved profitability, and our strong backlog, we are well positioned to pursue our goal of long-term sustainable growth.'Consolidated revenues in the quarter to Apr 30 were 4 bln usd, compared to 3.5 bln usd last fiscal year, while pretax earnings before interest from continuing operations were 183 mln usd, compared to 78 mln usd last fiscal year.Net income was 79 mln usd, compared to 24 mln usd last time and the order backlog was 45.4 bln usd, an increase of 4.7 bln usd over last time.philip.waller@thomson.compaw/dcaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Bombardier wins 50 mln eur contract to assemble 100 locos for EMD 