• Revenues grew 19% year-over-year to $1.5 billion, driven by 3 incremental aircraft deliveries and steady year-over-year gain from Services to $495 million.
• Adjusted EBITDA⁽¹⁾ recorded an impressive 21% year-over-year jump to $248 million and adjusted EBITDA margin⁽²⁾ of 16.3%. Reported EBIT reached $177 million.
• Net income⁽³⁾ and adjusted net income⁽¹⁾ were $44 million and $68 million respectively. Diluted EPS⁽³⁾ reached $0.37, while adjusted EPS⁽²⁾ was up 69% year-over-year, from $0.36 to $0.61.
• Free cash flow usage⁽¹⁾ of $304 million, represented a 21% improvement compared to Q1 2024; cash flow usage from operating activities⁽³⁾ and net additions to PP&E and intangible assets⁽⁴⁾ were at $271 million and $33 million respectively.
• Backlog⁽⁵⁾ of $14.2 billion as at March 31, 2025, unit book-to-bill⁽⁶⁾ of 0.9.
• Available liquidity⁽¹⁾ stayed strong at $1.4 billion; cash and cash equivalents were $1.0 billion as at March 31, 2025.
• 2025 guidance brings higher year-over-year top and bottom-line targets, with significant growth in free cash flow, as the Corporation projects another successful year ahead.⁽⁷⁾
  
  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. 

MONTREAL, May 01, 2025 (GLOBE NEWSWIRE) — Bombardier Inc. (TSX: BBD.B) today announced strong results for the first quarter of 2025, marked by double-digit gains across many key metrics, including total revenues, earnings and free cash flow. Bombardier also provided its 2025 guidance, setting objectives that align with its long-term strategy and its continued growth trajectory on profitability and free cash flow generation.

“Bombardier’s strong start to the year demonstrates our great flexibility as well as the rock-solid fundamentals we have built our business on. I am tremendously proud of our team who remained focused on executing at the highest level to deliver double-digit gains year-over-year on revenues, adjusted EBITDA, adjusted EBIT and free cash flow,” said Éric Martel, President and Chief Executive Officer, Bombardier. “Over the last five years, we took proactive and necessary steps to address our balance sheet, our revenue streams, as well as supply chain pressure. The foundations we have laid allow us today not only to face uncertainty with calm and confidence, but also to consider the opportunities that may arise from it. Bombardier today is well positioned to carry forward our momentum.”​

Solid Revenue Performance Driven by Increased Deliveries and Sustained Services Growth

Bombardier reported revenues of $1.5 billion for the first quarter of 2025, an impressive increase of 19% year-over-year. This significant jump was driven in part by the delivery of 23 aircraft, 3 more than in the same quarter last year, and by a healthy delivery mix. The company’s Services business continued its steady growth, reaching revenues of $495 million, up $18 million from the first quarter of 2024. Despite global economic uncertainty, order activity remained stable, allowing the company to maintain a competitive advantage within the industry. This resulted in a backlog of $14.2 billion as at March 31, 2025, and a unit book-to-bill of 0.9.

Robust Profitability Results

Bombardier reported an increase in profitability across key metrics for the first quarter of 2025. Aligned with the company’s objective to generate sustainable and profitable growth, adjusted net income for the first quarter of 2025 came in at an impressive $68 million, up 55% from the same quarter in 2024. Adjusted EPS for the quarter rose to $0.61, a significant uptick from the $0.36 recorded for the first quarter of 2024.

The company generated an adjusted EBITDA of $248 million in the first three months of the year, representing 21% growth year-over-year, and an adjusted EBITDA margin of 16.3%, up by 30 basis points year-over-year. Adjusted EBIT reached $177 million, a remarkable 25% year-over-year increase, leading to an adjusted EBIT margin of 11.6%, up by 50 basis points year-over-year.

Bombardier’s free cash flow usage of $304 million demonstrated a 21% improvement year-over-year as the company stabilizes its production rates after 4 years of significant growth. First quarter free cash flow usage reflects the year’s planned production sequence and required build in inventory.

Positive 2025 Outlook Reflected by Growth-Focused Guidance

Bombardier also announced today its goals for 2025 with guidance that continues to build on strong growth across its key metrics and aligns with its long-term strategy.

	2024 Results	2025 Guidance
Aircraft deliveries (in units)	146	>150
Revenues	$8.67 billion	>$9.25 billion
Adjusted EBITDA	$1.36 billion	>$1.55 billion
Adjusted EBIT	$915 million	>$1.00 billion
Free cash flow(1)	$232 million	$500 million – $800 million

“As the world navigates through economic uncertainty, Bombardier has been diligent in its planning, developing multiple scenarios over the past few months,” added Martel. “We have come a long way by focusing on what we control, and have everything in place to guide for a strong year in 2025 with an increase in revenues and free cash flow. Our targets reflect a disciplined approach to the economic environment, while positioning the company for success.” ​

Bombardier anticipates delivering more than 150 aircraft in 2025. This delivery cadence, along with improved revenue mix including a contribution from Defense, higher pricing and continued growth in Services, will contribute to anticipated revenues of more than $9.25 billion. Bombardier also aims to further improve profitability, with an adjusted EBITDA exceeding $1.55 billion. This growth is expected to be driven by margin conversion on increased revenues, margin expansion from improved revenue mix, and net favorable pricing over inflation, partly offset by higher supplier-related costs. Adjusted EBIT is expected to surpass $1.00 billion. In terms of free cash flow, the company expects to generate between $500 million and $800 million, with the low end of the range reflecting a weaker demand environment for the first half of 2025, tied to global economic uncertainty. Net additions to PP&E and intangible assets are expected to be between $200 million and $300 million.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs.

For them, we are committed to pioneering the future of aviation-innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of more than 5,100 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious “Red Dot: Best of the Best” award for Brands and Communication Design.

• Located at Al Bateen Executive Airport, the new service facility will be an important hub for Bombardier business aircraft in the Middle East
• The approximately 120,000 sq. ft. service facility will provide quick, easy and convenient maintenance, repair and overhaul (MRO) capabilities for all Bombardier business aircraft
• Abu Dhabi is a dynamic financial hub for business and commerce in the UAE, and the new facility provides ease of use for Bombardier’s growing customer base

MONTRÉAL, April 09, 2025 (GLOBE NEWSWIRE) — Bombardier today announced the development of its new service facility at Al Bateen Executive Airport in Abu Dhabi, United Arab Emirates (UAE), further extending its industry-leading maintenance, repair and overhaul capabilities around the world. This new facility represents a strong partnership with Abu Dhabi Airports, leveraging their expertise and commitment to aviation excellence. The new facility, which will relocate from its originally announced location at the Abu Dhabi International Airport in 2022, further reinforces Bombardier’s commitment to serving its customers in this key market. The new location at the dynamic Al Bateen Executive Airport more effectively aligns with the needs of Bombardier customers.

At full capacity, the new OEM service facility is aiming to create approximately 100 aerospace jobs for the Emirate of Abu Dhabi, further solidifying Bombardier’s presence in this important hub. Construction of the new facility is set to commence in the first half of 2025, with completion and operational readiness expected in the second half of 2026.

“We are thrilled to announce the new location of our Abu Dhabi Service facility at the dynamic Al Bateen Executive Airport in Abu Dhabi,” said Paul Sislian, Executive Vice President, Aftermarket Services and Strategy. “This location is strategically aligned with all our aftermarket priorities and perfectly matches the needs of our discerning customer base. Our customers are accustomed to receiving an exceptional service experience wherever they are in the world, and this new facility in this dynamic financial hub will ensure they continue to receive the best service experience possible.”

“We are delighted to welcome Bombardier’s new service facility to Al Bateen Executive Airport, building on a strong successful partnership,” said Elena Sorlini, Managing Director and Chief Executive Officer, Abu Dhabi Airports. “This move represents a strategic alignment, given the airport’s dedicated focus on business aviation and its ability to provide a seamless and efficient experience for Bombardier’s clientele. This facility will further affirm Abu Dhabi’s position as a leading aviation hub and contribute significantly to the region’s economic growth. We are confident this collaboration will drive mutual success for both Bombardier and Abu Dhabi Airports.”

Bombardier’s newly located Abu Dhabi Service Facility of approximately 120,000 sq. ft., will feature a 55,000 sq. ft. hangar, a parts depot, and a complete suite of maintenance services including scheduled and unscheduled heavy maintenance, aircraft modifications and aircraft on ground (AOG) capabilities.

The new facility will accommodate Bombardier’s Global 7500 aircraft, as well as the new Bombardier Global 8000, the company’s flagship of a new era, when it enters into service during the second half of 2025.⁽¹⁾ The new facility will provide the ultimate service solution for the region and the worldwide customers of Bombardier Learjet, Challenger and Global aircraft families.

The new Abu Dhabi Service facility further expands on Bombardier’s existing service footprint in the UAE. Bombardier’s Dubai Line Maintenance station provides Learjet, Challenger and Global customers with fast, efficient Aircraft on Ground (AOG) service capabilities, as well as general line maintenance capabilities.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards but understanding customers well enough to anticipate their unspoken needs

For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it

Bombardier customers operate a fleet of approximately 5,000 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico.  In 2024, Bombardier was honoured with the prestigious “Red Dot: Best of the Best” award for Brands and Communication Design.

• New Line Maintenance Station (LMS) location in Perth, and planned LMS in Sydney, builds on Bombardier’s existing customer service footprint in Asia-Pacific
• Customers will receive quick and efficient light scheduled and unscheduled maintenance including Aircraft on Ground (AOG) support if required
• Technicians offer certified support for all Learjet, Challenger and Global aircraft

MONTRÉAL, March 21, 2025 (GLOBE NEWSWIRE) — Bombardier is pleased to announce it has added a new Line Maintenance Station (LMS) in Perth, Australia, further complementing its customer service footprint in the region and expanding its network of certified aircraft technicians. The company is also planning to open a second Line Maintenance Station in Sydney, Australia, later this year.*

The new Perth Line Maintenance Station brings Bombardier’s worldwide LMS presence to 10, providing customers with light scheduled, unscheduled maintenance, including Aircraft on Ground (AOG) maintenance support. Bombardier Mobile Response Trucks are also operational in Melbourne, Perth and Sydney. The technical engineers supporting the new location in Perth are certified for all Learjet, Challenger series and Global series aircraft.

“The addition of the Perth Line Maintenance Station is an integral part of our overall mission to enhance OEM support for our customers in Australia,” said Paul Sislian, Executive Vice President, Aftermarket Services & Strategy, Bombardier. “We are delighted to be offering our customers expanded support, more resources and increased flexibility closer to their base of operations.” 

The introduction of the new LMS in Perth builds on the opening of the Melbourne Service Centre in September 2022, providing customers with more maintenance options close to home. The Service Centre features close to 50,000 sq. ft. of hangar and ramp space. Enhanced service capability at the site includes the capacity to accommodate three Global 7500 aircraft.

The company’s Services and Support business has also developed extensive personnel and supply chain networks across the world, including in Australia, that can support the maintenance of all aircraft models. Bombardier works closely with its teams to ensure it maintains sufficient stock of high-demand consumables. With distribution hubs strategically located in Chicago, Frankfurt, Singapore, and Hong Kong, teams can ensure global reliability and access to spare parts. Bombardier also holds a large inventory of parts at its Melbourne Service Centre for locally based customers.

The addition of the new LMS builds on Bombardier’s commitment to the Australian market and adds to the company’s existing network of 10 service centres, and 50 Mobile Response and Unscheduled Maintenance Team units around the globe.

To promote its expanding presence in the region, members of the Bombardier Defense team and Bombardier Customer Services and Support will attend the Avalon Airshow in Melbourne, Australia, from March 25-30, 2025.

*The opening of the Sydney Line Maintenance Station is subject to regulatory approval.

Bombardier, Learjet, Challenger, Global, and Global 7500 are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs.

For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of more than 5,100 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico.

For Information

For corporate news and information, including Bombardier’s Environmental, Social and Governance report, as well as the company’s plans to cover all its flight operations with a Sustainable Aviation Fuel (SAF) blend utilizing the Book and Claim system visit bombardier.com.

Learn more about Bombardier’s industry-leading products and customer service network at businessaircraft.bombardier.com. 

MONTRÉAL, March 20, 2025 (GLOBE NEWSWIRE) — Bombardier, Tata Consultancy Services (TCS), and TECHNATION Canada are proud to announce the winners of the SustAInable Aviation Student Innovation Challenge, a competition aimed at empowering Quebec’s post-secondary students to shape the future of business aviation.

During an inspiring day at Bombardier’s Laurent Beaudoin Completion Centre in Dorval, Québec, the student finalists presented their proposals that leveraged artificial intelligence to support the aviation industry’s continued efforts toward sustainability. Quebec’s Chief Innovation Officer Luc Sirois kicked-off the event with a keynote speech that addressed the current state of AI.

Throughout the challenge, students were supported by Bombardier and TCS’ seasoned experts, who provided regular insights and mentoring to the various teams. Executives from both companies also took part in this thrilling event, serving on the jury for the final stage of the competition. And, to further demonstrate the potential of artificial intelligence, the judging panel also included a robot, powered by groundbreaking Generative AI technology. The robot interacted with the students with human-level conversational and social skills, listened to all the pitch presentations and posed questions to the finalists in both French and English.

“At Bombardier, innovation is an integral part of our DNA. We were therefore thrilled to open our doors to Quebec students with a passion for technology, and to hear their ideas for continuing to propel the world of business aviation towards a more sustainable future,” commented Brigitte Larivière, Chief Information Officer, Bombardier. “We are impressed by the creativity shown by the students and now look forward to welcoming the competition winners into our internship program.”

– Brigitte Larivière, Chief Information Officer, Bombardier

“We are so proud to support the next generation of leaders and innovators, and we’re excited to see how these transformative ideas influence Bombardier,” Soumen Roy, Executive Director and Country Head, Canada, TCS. “At TCS, we believe that innovation lies at the intersection of technology, sustainability, and collaboration. This challenge offers students an incredible opportunity to contribute to the future of AI and aviation while gaining exposure to Montreal’s dynamic tech community.”

– Soumen Roy, Executive Director and Country Head, Canada, TCS

“Sustainability is a strategy that every industry must deploy to protect our planet, and the aviation sector is helping lead the way. The SustAInable Aviation Challenge is a unique initiative that has engaged our next generation of innovators. TECHNATION, Bombardier and TCS have come together as partners to address critical issues like sustainability, presenting real-world challenges for Canada’s future tech talent to tackle while using innovative AI solutions. A win-win for Canada and for all!”

– Angela Mondou, President and CEO, TECHNATION

“Montréal is a major aerospace hub, and we have a clear ambition to make the metropolis a world leader in decarbonizing aviation. That’s why I’m delighted to see an initiative like the SustAInable Aviation Student Challenge in Montréal. It’s all about innovation that promotes sustainable development through artificial intelligence, areas of expertise that make our metropolis shine on a global scale. What’s more, listening to the younger generation is of paramount importance to our Administration, and this challenge directly involves students. It mobilizes their creativity by encouraging them to share their ideas, and offers them tremendous opportunities for the future.”

– Valérie Plante, mayor of Montréal

Nearly 100 students enrolled in the challenge from various disciplines including engineering, computer science and commerce, with 25 students moving on to the final round. The challenge offered participants the chance to win cash prizes totaling $16,000 as well as secure valuable internships, while making a lasting impact on the future of aviation.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs.

For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of more than 5,100 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious “Red Dot: Best of the Best” award for Brands and Communication Design.

For Information

For corporate news and information, including Bombardier’s sustainability plan and reports, visit bombardier.com.

Learn more about Bombardier’s industry-leading products and customer service network at bombardier.com. Follow us on X @Bombardier.

About Tata Consultancy Services

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) is a digital transformation and technology partner of choice for industry-leading organizations worldwide. Since its inception in 1968, TCS has upheld the highest standards of innovation, engineering excellence and customer service.

Rooted in the heritage of the Tata Group, TCS is focused on creating long term value for its clients, its investors, its employees, and the community at large. With a highly skilled workforce of over 607,000 consultants in 55 countries and 180 service delivery centres across the world, the company has been recognized as a top employer in six continents. With the ability to rapidly apply and scale new technologies, the company has built long term partnerships with its clients – helping them emerge as perpetually adaptive enterprises. Many of these relationships have endured into decades and navigated every technology cycle, from mainframes in the 1970s to Artificial Intelligence today.

TCS sponsors 15 of the world’s most prestigious marathons and endurance events, including TCS New York City Marathon, TCS London Marathon and TCS Sydney Marathon with a focus on promoting health, sustainability, and community empowerment. TCS generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024. For more information, visit www.tcs.com

• Bombardier’s precedent-setting initiative to publish Environmental Product Declarations commended at the 2025 Aviation Week Network’s Laureate Awards
• The company is the only business jet manufacturer in the world to publicly disclose the environmental footprint of its entire in-production aircraft portfolio over their full life cycle

MONTREAL, March 07, 2025 (GLOBE NEWSWIRE) — Bombardier is proud to announce that it has been recognized as an Aviation Week Laureate Award winner for the publication of Environmental Product Declarations (EPDs) for all its in-production aircraft. This honor acknowledges its pioneering efforts in environmental disclosure within the aerospace industry. The initiative, a significant undertaking led by Bombardier’s Aircraft Innovation team and involving multiple internal and external parties, aims to measure and communicate the environmental footprint of the company’s aircraft over their full life cycle, and embodies its spirit of progress, innovation, and leadership.

With the publication of its latest EPD in 2024, Bombardier became the only business jet manufacturer in the world to publicly disclose the environmental footprint of its entire portfolio of in-production aircraft. The EPDs are public and accessible on the company’s website.

“This initiative has set a precedent in our industry and shows how Bombardier is ahead of the curve in openly sharing the environmental information for all its aircraft,” said Sean Johnson, Vice President, Aircraft Innovation at Bombardier. “The development of the scientific methodology behind the life cycle analysis conducted on the Bombardier Global 7500 program years ago is still regarded as an exemplar among our peers. The practice of humbly sharing our environmental data to collectively explore how to drive meaningful improvement should become the new standard.”

As a crucial component of Bombardier’s extensive environmental strategy, the EPDs represent a significant step toward greater transparency. In addition to providing factual insights into optimizing the environmental performance of a product at every stage of its life cycle, the publication of EPDs is an act of accountability and offers valuable information to customers. This environmental expertise reinforces Bombardier’s advocacy efforts for the use of Sustainable Aviation Fuel (SAF) and is worthwhile for the company’s long term EcoJet research project.

The 2025 Aviation Week Laureate Awards were celebrated on March 6, 2025, at the National Building Museum in Washington, DC.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards but understanding customers well enough to anticipate their unspoken needs.

For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of approximately 5,100 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious “Red Dot: Best of the Best” award for Brands and Communication Design.     

For Information

For corporate news and information, including Bombardier’s Environmental, Social and Governance report, as well as the company’s initiative to cover all its flight operations with a blend of Sustainable Aviation Fuel (SAF) utilizing the Book-and-Claim system visit bombardier.com.

Learn more about Bombardier’s industry-leading products and customer service network at bombardier.com. 

• Revenues beat guidance and grew year-over-year to $8.7 billion, driven by record service performance exceeding $2.0 billion, and 146 aircraft deliveries.
• Adjusted EBITDA⁽¹⁾ up 11% year-over-year to $1.36 billion, and adjusted EBITDA margin⁽²⁾ reached 15.7%. Full-year reported EBIT reached $878 million.
• Net income and adjusted net income⁽¹⁾ were $370 million and $547 million respectively. Diluted EPS⁽³⁾ reached $3.40, while adjusted EPS⁽²⁾ was up 31% year-over-year, from $3.94 to $5.16.
• Free cash flow generation⁽¹⁾ of $232 million; reported cash flows from operating activities⁽³⁾ and net additions to PP&E and intangible assets were at $405 million and $173 million respectively.
• Backlog⁽⁴⁾ up year-over-year to $14.4 billion as at December 31, 2024. Unit book-to-bill⁽⁵⁾ of 1.0 demonstrates consistent demand.
• Solid progress on deleveraging sees approximately $400 million debt reduction⁽⁶⁾⁽⁷⁾ launched in 2024, adjusted net debt to adjusted EBITDA ratio⁽²⁾ was reduced from 3.3x in 2023 to 2.9x. Further balance sheet strengthening with the purchase of approximately $635 million in annuities⁽⁸⁾ for some pension plans. Available liquidity⁽¹⁾ of $2.1 billion; cash and cash equivalents were $1.7 billion as at December 31, 2024.
• In light of the rapidly evolving landscape stemming from the February 1, 2025 executive orders signed by the President of the United States regarding new tariffs, Bombardier has elected to defer providing guidance and 2025 objectives⁽⁹⁾.
  
  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. 

MONTRÉAL, Feb. 06, 2025 (GLOBE NEWSWIRE) — Bombardier Inc. (TSX: BBD.B) today announced solid fourth quarter and full-year 2024 financial results, closing out the company’s fourth consecutive year of sustained growth across all key metrics.

“Our team passionately and proudly executed our plan in 2024 at a very high level, growing revenue to meet guidance, growing deliveries, growing our backlog, meaningfully expanding our margins, and reaching a net leverage ratio of 2.9x,” said Éric Martel, President and Chief Executive Officer, Bombardier. “Four years ago, we outlined a bold vision for how we wanted to structure Bombardier for success. Our company has accomplished more than we set out to,  including reaching our 2-billion-dollar service revenue ambition a full year ahead of schedule by rapidly elevating our customer experience and offerings. Whether in our operations, in the field or on our balance sheet, we have time and again demonstrated that we are strong and resilient.”

Strong Revenue Growth Driven by Impressive Services Performance

Bombardier reported total revenues of $8.7 billion for 2024, surpassing guidance with an 8% increase year-over-year, driven by a solid delivery mix and record services revenue. The company’s Services business continued its impressive performance with $2.04 billion in revenue, reaching the long-term objective outlined as part of the company’s 2021 Investor Day a full year in advance. Services revenues were up 16% from 2023, continuing its double-digit growth trend as all major network expansion projects are now fully operationalized.

Higher Deliveries and Order Activity Fuel Healthy Backlog

Bombardier continued to maintain a disciplined approach to its production, rounding out a particularly active fourth quarter of 2024 to reach total of 146 aircraft deliveries for the year, versus 138 in 2023. Backlog⁽⁴⁾ was up $200 million from 2023, reaching $14.4 billion as at December 31, 2024. The company also reported a full-year unit book-to-bill of 1.0⁽⁵⁾, reflecting steady and strong demand.

Increased Profitability Continues to Support Deleveraging Efforts

Bombardier maintained its profitable growth trajectory for 2024. Adjusted net income saw a significant up-tick in 2024, reaching $547 million. Full-year adjusted EPS rose 31% year-over-year, up from $3.94 in 2023 to $5.16 in 2024. Diluted EPS was $3.40 for full-year 2024.

Adjusted EBITDA came in at $1.36 billion for 2024, representing 11% growth year-over-year, driven mainly by higher deliveries and an increased contribution from Services, partially offset by supply chain disruption costs. Full-year adjusted EBIT reached $915 million, up 15% from 2023.  

The company reported free cash flow (FCF) generation of $232 million, ending the year in line with expectations. Contributing factors to the full-year FCF generation result included strong profitability, disciplined capital investments, inventory build to support production rates, higher supplier advances that offset lower customers advances, due to timing of progress payments. Cash flow from operating activities and net additions to PP&E and intangible assets were at $405 million and $173 million respectively for full-year 2024.

Bombardier continued its successful progress on de-leveraging with approximately $400 million in debt reduction in 2024, bringing the adjusted net debt to adjusted EBITDA ratio down from 3.3x in 2023 to 2.9x. Available liquidity was $2.1 billion as at December 31, 2024.

In 2024, approximately $635 million in annuities were purchased for certain pensioners and beneficiaries of the Bombardier pension plans registered in Québec, further strengthening the company’s balance sheet.

Update on 2025 Outlook

On February 1, 2025, the President of the United States issued three executive orders directing the United States to impose new tariffs on imports originating from Canada, Mexico and China. These orders call for additional 25% duty on imports into the United States of Canadian-origin and Mexican-origin products and 10% duty on Chinese-origin products, except for Canadian energy resources that are subject to an additional 10% duty. In light of the rapidly evolving schedule for tariff implementation and the effects they may have, Bombardier has elected to defer providing guidance and 2025 objectives, until the Corporation has had the opportunity to further assess the direct and indirect impacts to its business of such tariffs, retaliatory tariffs or other trade protectionist measures implemented as this situation develops. Bombardier’s long-term priorities and strategic orientation remain intact, including plans for continuing growth in its Defense and Services businesses and continued de-leveraging.