- Bombardier (BBD.B) has raised full-year guidance with the release of its Q2 2021 financial results
- Business jet revenues climbed to US$1.5 billion, up 50 per cent year over year
- Aircraft sales equally accelerated, reaching a unit book-to-bill ratio of 1.8
- Pro-forma liquidity was ~US$2.1 billion and pro-forma net debt was ~US$5.3 billion
- The company is expecting US$5.8 billion in revenues for the year
- Bombardier is a global leader in aviation, creating innovative and game-changing planes
- Bombardier (BBD.B) is up by 5.33 per cent and is currently trading at $1.58 per share
Bombardier (BBD.B) has raised full-year guidance with the release of its Q2 2021 financial results.
Q2 financial highlights
Business jet revenues climbed to US$1.5 billion, up 50 per cent year over year, fueled by increases in both aircraft deliveries and services.
Aircraft deliveries totalled 29, up 45 per cent year over year, reflecting strong demand for large-category jets.
Worldwide business jet utilization continued to rise, nearly reaching pre-pandemic levels in North America and Europe, buoying revenue contribution from services activities to US$295 million, up 29 per cent year over year.
Aircraft sales equally accelerated, reaching a unit book-to-bill ratio of 1.8.
Adjusted EBITDA was up US$112 million year over year to US$143 million.
Reported EBIT from continuing operations was US$36 million.
The US$91 million from continuing operations free cash flow represents an improvement of US$841 million year over year, including a negative impact of US$60 million in non-recurring cash items.
Pro-forma liquidity was ~US$2.1 billion and Pro-forma net debt was ~US$5.3 billion with US$1 billion maturing in the next three years.
Bombardier remains focused on expanding its service network and diversifying top-line revenue streams. This includes the company’s certified pre-owned aircraft program, which offers like-new planes backed by a one-year warranty and manufacturer-recommended modifications and updates.
Raised 2021 full-year guidance
| 2021 | Previous | Revised |
| Business jet deliveries (in units) | 110 – 120 | ~120 |
| Revenues | >US$5.6 billion | >US$5.8 billion |
| Adjusted EBIT | >US$100 million | >US$175 million |
| Adjusted EBITDA | >US$500 million | >US$575 million |
| Free cash flow usage | Usage better than US$500 million (including ~US$200 million of non-recurring outflows) | Usage better than US$300 million (including ~US$200 million of non-recurring outflows) |
Éric Martel, President and CEO of Bombardier, commented,
“Bombardier’s raised guidance stems from all-around solid execution in the first half of 2021, greater confidence in market momentum and our ability to accelerate initiatives supporting our recurring savings objective. Our team’s concerted efforts have already supported stronger full-year margins and have allowed us to focus diligently on our priorities of maturing the Global 7500 aircraft program, executing our aftermarket growth strategy and deleveraging our balance sheet.”
Bombardier is a global leader in aviation, creating innovative and game-changing planes.
Bombardier (BBD.B) is up by 5.33 per cent and is currently trading at $1.58 per share as of 11:04 am ET.
