Bombardier: posts higher profit, sells assets
(CercleFinance.com) - Bombardier has reported a 31% rise in quarterly operating profit on Thursday, as the world's number 3 civil aircraft maker achieved its best quarterly performance in years.
Bombardier reported a third-quarter EBITDA before special items of 333 million dollars, up from 254 million dollars one year earlier.
Revenue fell by 5% to 3.6 billion dollars, with the company having deconsolidated revenues from the C Series program following the closing of the Airbus deal.
Montreal-based Bombardier said it expects full-year revenues of approximately 16.5 billion dollars, at the lower end of its guidance range.
Today, Bombardier also announced the sale of a number of non-core assets, in line with its strategy to focus on transportation, business aircraft and aerostructures.
The company said that it has entered into definitive agreements for the sale of the Q Series aircraft program and de Havilland trademark to Longview Aviation Capital for approximately 300 million dollars, and the sale of its business aircraft's flight and technical training activities to CAE and the monetization of royalties of approximately 800 million dollars.
Both transactions are expected to close by the second half of 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Bombardier reported a third-quarter EBITDA before special items of 333 million dollars, up from 254 million dollars one year earlier.
Revenue fell by 5% to 3.6 billion dollars, with the company having deconsolidated revenues from the C Series program following the closing of the Airbus deal.
Montreal-based Bombardier said it expects full-year revenues of approximately 16.5 billion dollars, at the lower end of its guidance range.
Today, Bombardier also announced the sale of a number of non-core assets, in line with its strategy to focus on transportation, business aircraft and aerostructures.
The company said that it has entered into definitive agreements for the sale of the Q Series aircraft program and de Havilland trademark to Longview Aviation Capital for approximately 300 million dollars, and the sale of its business aircraft's flight and technical training activities to CAE and the monetization of royalties of approximately 800 million dollars.
Both transactions are expected to close by the second half of 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.