Bombardier releases second quarter results

New orders have bolstered Bombardier Transportation second quarter, increasing revenue from $1.8 billion in 2012 to $2.2 billion in 2013.

In the last three months, the company has signed a $2 billion framework agreement with Deutsche Bahn (DB) for 450 electric locomotives and a $771 million contract for 96 new metro trains for Stockholm.

A strong second quarter has increased the company’s earnings before tax to $150 million, up from $115 million in 2012.As of June 30, Bombardier Transportation had maintained an almost identical order backlog of $32.1 billion.

Pierre Beaudoin, president and chief executive of Bombardier, said: “As expected, our second quarter results showed progress in revenues, EBIT and free cash flow.

“Transportation had a good second quarter with increases on all fronts; revenues and free cash flow improved, EBIT margin reached 6.9 per cent and the level of new orders continued strong with a book-to-bill ratio of 1.5.”




Continue reading...