Bombardier Announces Financial Results for the Fourth Quarter and the Fiscal Year Ended December 31, 2012

Bombardier Announces Financial Results for the Fourth Quarter and the Fiscal 
Year Ended December 31, 2012 
MONTREAL, QUEBEC -- (Marketwire) -- 02/21/13 --
(TSX:BBD.A)(TSX:BBD.B) 
(All amounts in this press release are in U.S. dollars unless
otherwise indicated. This press release contains both IFRS and
non-GAAP measures, with certain measures also presented on a pro
forma basis to reflect the impact of the January 2013 debt issuance.
Non-GAAP measures are defined and reconciled to the most comparable
IFRS measures in our MD&A. See Caution regarding Non-GAAP measures at
the end of this press release.) 
The fourth quarter and fiscal year ended December 31, 2011 comprise
two and 11 months of Bombardier Aerospace results, and three and 12
months of Bombardier Transportation results.  


 
--  Revenues of $16.8 billion, compared to $18.3 billion last fiscal year 
--  EBIT before special items(1) of $835 million, or 5.0% of revenues,
    compared to $1.2 billion, or 6.6%, last fiscal year 
--  Adjusted net income(1) of $692 million, compared to $865 million last
    fiscal year 
--  Adjusted earnings per share(1) of $0.38, compared to $0.48 last fiscal
    year 
--  Free cash flow usage(1) of $741 million, compared to a usage of $1.2
    billion last fiscal year 
--  Available short-term capital resources of $4.3 billion including cash
    and cash equivalents of $2.9 billion as at December 31, 2012, compared
    to $4.1 billion and $3.4 billion respectively, as at December 31, 2011;
    $6.3 billion as at December 31, 2012 on a pro forma basis giving effect
    to the January 2013 debt issuance 
--  Record backlog in both groups for a consolidated backlog of $66.6
    billion, compared to $55.8 billion as at December 31, 2011 
 
(1)  See Caution regarding Non-GAAP measures at the end of this press      
     release.                                                              

 
Bombardier today reported its financial results for the fourth
quarter and the year ended December 31, 2012. Revenues totalled $4.8
billion for the fourth quarter ended December 31, 2012, compared to
$4.3 billion for the corresponding period last fiscal year. For the
year, revenues totalled $16.8 billion, compared to $18.3 billion for
the last fiscal year. 
For the fou
rth quarter ended December 31, 2012, earnings before
financing expense, financing income and income taxes (EBIT) before
special items totalled $175 million, or 3.7% of revenues, compared to
$293 million, or 6.8%, for the corresponding period the previous
year. For the year, EBIT before special items was $835 million, or
5.0% of revenues, compared to $1.2 billion, or 6.6%, last fiscal
year. For the fourth quarter ended December 31, 2012, EBIT was $12
million, or 0.3% of revenues, compared to $293 million, or 6.8%, for
the corresponding period the previous year. For the year, EBIT
amounted to $695 million or 4.1% of revenues, versus $1.2 billion or
6.6% last fiscal year. 
On an adjusted basis, net income amounted to $188 million, or
adjusted earnings per share (EPS) of $0.10, for the fourth quarter
ended December 31, 2012, compared to $227 million, or adjusted EPS of
$0.13, for the corresponding period the previous year. Adjusted net
income for the year ended December 31, 2012 amounted to $692 million,
compared to $865 million for the last fiscal year, resulting in an
adjusted EPS of $0.38, compared to an adjusted EPS of $0.48 last
fiscal year. Net income amounted to $14 million, or diluted EPS of
nil, for the fourth quarter ended December 31, 2012, compared to $214
million, or diluted EPS of $0.12, for the corresponding period the
previous year. Net income for the year ended December 31, 2012
amounted to $598 million, compared to $837 million for the last
fiscal year. For the year, diluted EPS was $0.32, compared to diluted
EPS of $0.47 last fiscal year. 
For the three-month period ended December 31, 2012, free cash flow
(cash flows from operating activities less net additions to property,
plant and equipment and intangible assets) totalled $850 million,
compared to $590 million for the corresponding period the previous
year. Free cash flow usage totalled $741 million for the year ended
December 31, 2012, compared to a free cash flow usage of $1.2 billion
last fiscal year. Available short-term capital resources of $4.3
billion include cash and cash equivalents of $2.9 billion as at
December 31, 2012, compared to $4.1 billion and $3.4 billion
respectively as at December 31, 2011 ($6.3 billion on a pro forma
basis as at December 31, 2012, giving effect to the debt issuance of
January 2013). The overall backlog increased by $10.8 billion since
the beginning of the year, reaching a record level of $66.6 billion
as at December 31, 2012.  
"Our results for 2012 are not reflective of our potential," said
Pierre Beaudoin, President and Chief Executive Officer, Bombardier
Inc. "After proving our resilience throughout the economic crisis,
today, Bombardier is at a turning point. With our outstanding backlog
of $66.6 billion, an increase of 19% over last year, we're forging
ahead with breakthrough products and expanding our reach in pivotal
growth markets."  
"In Aerospace, we were in line with our delivery guidance and we've
garnered an impressive 481 net orders bringing our backlog to a
record level of $32.9 billion at the end of 2012. We're the clear
leader in business aviation both in terms of revenues and deliveries,
and in commercial aircraft, we had some significant orders for both
jets and turboprops. Our development programs are making solid
progress and the CSeries' first flight will take place by the end of
June 2013." 
"In Transportation, we won many important orders around the world in
2012, which brought our backlog to $33.7 billion, its highest level
ever. Meanwhile, we took various measures to improve our cost
structure and competitiveness. These inititatives are aimed at
securing our leadership and improving our profitability." 
"Our three main drivers will allow us to deliver long-term
sustainable growth. The first driver is our portfolio of
state-of-the-art products and services, which will be further
fortified as several innovative platforms roll out of our facilities
starting in 2014. The second is our expanding presence in key markets
worldwide which brings us closer to our customer base, and finally,
the strengthening of customer satisfaction through flawless execution
on every order. These are exciting times at Bombardier and we're on
the cusp of seeing significant revenue growth," concluded Mr.
Beaudoin. 
Bombardier Aerospace 
Bombardier Aerospace's revenues amounted to $2.6 billion for the
three-month period ended December 31, 2012, compared to $2.0 billion
for the corresponding period last fiscal year. For the year, revenues
totalled $8.6 billion, the same level as last fiscal year. 
EBIT before special items totalled $382 million, or 4.4% of revenues,
for the year ended December 31, 2012, compared to $502 million, or
5.8%, last fiscal year. For the fourth quarter ended December 31,
2012, EBIT totalled $89 million, or 3.4% of revenues, compared to
$127 million, or 6.3%, for the corresponding last fiscal year. For
the year, EBIT was $405 million, or 4.7% of revenues, compared to
$502 million, or 5.8%, last fiscal year. 
Free cash flow totalled $277 million for the fourth quarter ended
December 31, 2012, compared to $110 million for the corresponding
period last fiscal year. For the year ended December 31, 2012, free
cash flow usage totalled $867 million compared
 to a free cash flow
usage of $453 million for the last fiscal year. 
A total of 233 aircraft were delivered during the year ended December
31, 2012, compared to 245 for the last fiscal year.  
Bombardier Business Aircraft saw a remarkable level of order intake
with 343 net orders compared to 191 for the last fiscal year. The
business unit obtained two of its biggest orders in its history with
a firm order from VistaJet for 56 Global aircraft, valued at $3.1
billion and a firm order from NetJets Inc. for 100 Challenger
aircraft, valued at $2.6 billion, based on list prices. Even
excluding these two orders and a significant order from NetJets Inc.
in 2011, the business aircraft order intake still increased by 43%. 
Bombardier Commercial Aircraft received 138 firm orders during the
year, compared to 54 for the last fiscal year. Some of the largest
orders received are from WestJet Airlines Ltd., which placed a firm
order for 20 Q400 NextGen aircraft valued at $683 million, Delta Air
Lines Inc. which purchased 40 CRJ900 NextGen aircraft valued at $1.9
billion and finally, airBaltic which placed a firm order for 10 CS300
aircraft valued at $764 million.The value of these firm orders are
all based on list prices.  
Bombardier Aerospace's backlog increased by 38% reaching $32.9
billion as at December 31, 2012, compared to $23.9 billion as at
December 31, 2011. 
The CSeries aircraft program development is progressing steadily: the
assembly of the first Flight Test Vehicle (FTV1) in Mirabel, Quebec,
is in the advanced stages with all primary structures now assembled
on the aircraft. Key components and systems are in place, namely the
wing, landing gear, horizontal/vertical stabilizers, and most
recently, the engines as we proceed with ongoing systems
installations. In February 2013, the engine that will power the
CSeries aircraft, Pratt and Whitney's PW1500 geared-turbofan engine,
was awarded Transport Canada certification. These are critical steps
in supporting the progressive transfer of FTV1 to the flight test
program in the coming weeks. Progress has also been made in the build
of the subsequent flight test vehicles which will join FTV1 in the
flight test program. 
Additionally, the build for the Complete Airframe Static Test (CAST)
article, our aircraft destined for ground testing, was completed in
December 2012 followed by the start of the first certification and
Safety of Flight tests in February 2013. As well, the Complete
Integrated Aircraft Systems Test Area (CIASTA/Aircraft 0) rig was
recently upgraded to first flight configuration to allow for formal
Safety of Flight testing. The validation process from all the
on-the-ground integrated systems tests is progressing as expected. 
The Learjet 85 aircraft program is making solid progress having
achieved several key milestones. The first flight test aircraft is
significantly advanced: the complete pressure fuselage, including the
nose, aft fuselage and empennage have been joined, the landing gear
has been installed and the wing is attached to the fuselage. However,
while we have successfully dealt with several new technology
challenges, the program's timeline has been impacted.
Entry-into-service is now scheduled for summer 2014.  
In 2013, the EBIT margin should be at a similar level as 2012.
However, in 2014, Bombardier Aerospace expects to achieve an EBIT
margin of approximately 6%, after an anticipated 2% dilutive impact
from the entry-into-service of the CSeries aircraft. 
The group expects cash flows from operating activities of
approximately $1.4 billion in 2013, while the net additions to
property, plant and equipment (PP&E) and intangible assets are
expected to be approximately $2 billion. The level of net additions
to PP&E and intangible assets is expected to decrease in 2014 by
approximately $500 million and in 2015 by approximately another $500
million. 
In 2013, Bombardier Aerospace expects to deliver approximately 190
business and 55 commercial aircraft. 
Bombardier Transportation 
Bombardier Transportation's revenues amounted to $2.2 billion for the
three-month period ended December 31, 2012, compared to $2.3 billion
for the same period last year. Revenues totalled $8.1 billion for the
year ended December 31, 2012, compared to $9.8 billion for the last
fiscal year. 
For the fourth quarter ended December 31, 2012, EBIT before special
items totalled $86 million, or 4.0% of revenues, compared to $166
million, or 7.2%, for the same quarter the previous year. For the
year, EBIT before special items was $453 million, compared to $700
million last fiscal year, translating into an EBIT margin of 5.6% of
revenues versus 7.2% last fiscal year. For the three-month period
ended December 31, 2012, the loss before financing expenses,
financing income and income taxes totalled $77 million, or 3.6% of
revenues, compared to an EBIT of $166 million, or 7.2%, for the same
quarter the previous year. EBIT for the year was $290 million,
compared to $700 million last fiscal year, translating into an EBIT
margin of 3.6% versus 7.2% last fiscal year. 
Free cash flow totalled $673 million for the quarter ended December
31, 2012, compared to $564 million for the same period last fiscal
year. Free cash flow amounted to $386 million for the year ended
December 31, 2012, compared to a free cash flow usage of $424 million
for the last fiscal year.  
New orders reached $9.4 billion (book-to-bill ratio of 1.2), compared
to $9.7 billion (book-to-bill ratio of 1.0) for the last fiscal year.
The order backlog totalled a record $33.7 billion as at December 31,
2012, compared to $31.9 billion as at December 31, 2011. 
The group continued to secure orders around the world and across all
its product segments, as illustrated by the orders from Metrolinx/GO
Transit in Toronto, for 10 years of operation and maintenance
services, valued at $937 million and from San Francisco Bay Area
Rapid Transit District (BART) for 410 metro cars, valued at $897
million. The City of Basel's Transport Authority, Switzerland, signed
an agreement for 60 FLEXITY trams valued at $241 million, Abellio
Rail NRW GmbH of Germany ordered 35 TALENT 2 Electrical Multiple
Units (EMU) valued at $226 million, and Public Transport Victoria
(PTV) of Australia placed an order for 40 VLocity Diesel Multiple
Unit (DMU) cars valued at $216 million. 
The group also announced measures to improve its competitiveness and
cost structure. These include the closure of a plant in Aachen,
Germany, and the reduction of direct and indirect personnel by
approximately 1,200 employees worldwide, including Aachen. A
restructuring charge of $119 million in connection with these planned
measures was recorded in the fourth quarter of fiscal year 2012. 
In 2013, revenues are expected to be higher than in 2012, with a
percentage growth in the high single digits, excluding currency
impacts, and the group should maintain its free cash flow generally
in line with EBIT, although it may vary significantly from quarter to
quarter. Bombardier Transportation extended its target date, to
achieve an EBIT margin of 8% by 2014. 


 
FINANCIAL HIGHLIGHTS                                                        
(In millions of U.S. dollars, except per share amounts, which are shown in  
 dollars)                                                                   
----------------------------------------------------------------------------
----------------------------------------------------------------------------
For the fourth                                                              
 quarters                                                                   
 ended(1)                   December 31, 2012             December 31, 2011 
----------------------------------------------------------------------------
                       BA        BT     Total        BA        BT     Total 
----------------------------------------------------------------------------
Results of                                                                  
 operations                                                                 
Revenues        $   2,597 $   2,158 $   4,755 $   2,016 $   2,300 $   4,316 
Cost of sales       2,254     1,875     4,129     1,717     1,884     3,601 
----------------------------------------------------------------------------
Gross margin          343       283    
   626       299       416       715 
SG&A                  187       170       357       132       207       339 
R&D                    52        51       103        27        48        75 
Share of income                                                             
 of associates          -       (18)      (18)        -        (1)       (1)
Other expense                                                               
 (income)              15        (6)        9        13        (4)        9 
----------------------------------------------------------------------------
EBIT before                                                                 
 special                                                                    
 items(2)              89        86       175       127       166       293 
Special items           -       163       163         -         -         - 
----------------------------------------------------------------------------
EBIT            $      89 $     (77)       12 $     127 $     166       293 
Financing                                                                   
 expense                                  144                           156 
Financing income                         (111)                         (123)
----------------------------------------------------------------------------
EBT                                       (21)                          260 
Income taxes                                                                
 (recovery)                               (35)                           46 
----------------------------------------------------------------------------
Net income                          $      14                     $     214 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EPS (basic and                                                              
 diluted; in                                                                
 dollars)                           $       -                     $    0.12 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Supplemental                                                                
 information                                                                
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EBIT before                                                                 
 special                                                                    
 items(2)       $      89 $      86 $     175 $     127 $     166 $     293 
Amortization           75        34       109        39        36        75 
----------------------------------------------------------------------------
EBITDA before                                                               
 special                                                                    
 items(2)       $     164 $     120 $     284 $     166 $     202 $     368 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
On an adjusted                                                              
 basis                                                                      
----------------------------------------------------------------------------
Adjusted net                                                                
 income(2)                          $     188                     $     227 
Adjusted EPS (in                                                            
 dollars)(2)                        $    0.10                     $    0.13 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Cash flows from                                                             
 operating                                                                  
 activities     $     852 $     729           $     442 $     623           
Net additions to                                                            
 PP&E and                                                                   
 intangible                                                                 
 assets              (575)      (56)               (332)      (59)          
----------------------------------------------------------------------------
Segmented free                                                              
 cash flow(2)   $     277 $     673 $     950 $     110 $     564 $     674 
Net income taxes                                                            
 and net                                                                    
 interest paid                           (100)                          (84)
----------------------------------------------------------------------------
Free cash                                                                   
 flow(2)                            $     850                     $     590 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
BA: Bombardier Aerospace; BT: Bombardier Transportation                    
                                                                           
(1)  Our fourth quarter ended December 31, 2011 comprises two months of    
     BA's results and three months of BT's results.                        
                                                                           
(2)  Non-GAAP financial measure. Refer to the Non-GAAP financial measures  
     and Consolidated resul
ts of operations sections in Overview of the    
     Corporation's MD&A for definitions of these metrics. Refer also to the
     Consolidated results of operations and Liquidity and capital resources
     sections in Overview and Analysis of results sections in BA and BT of 
     the Corporation's MD&A for reconciliations to most comparable IFRS    
     measures.                                                             
                                                                           
                                                                           
(In millions of U.S. dollars, except per share amounts, which are shown in  
 dollars)                                                                   
----------------------------------------------------------------------------
----------------------------------------------------------------------------
For the fiscal                                                              
 years ended(1)             December 31, 2012             December 31, 2011 
----------------------------------------------------------------------------
                       BA        BT     Total        BA        BT     Total 
----------------------------------------------------------------------------
Results of                                                                  
 operations                                                                 
R
evenues        $   8,628 $   8,140 $  16,768 $   8,594 $   9,753 $  18,347 
Cost of sales       7,418     6,851    14,269     7,355     8,089    15,444 
----------------------------------------------------------------------------
Gross margin        1,210     1,289     2,499     1,239     1,664     2,903 
SG&A                  699       744     1,443       621       818     1,439 
R&D                   155       144       299       122       149       271 
Share of income                                                             
 of associates          -       (45)      (45)        -        (4)       (4)
Other expense                                                               
 (income)             (26)       (7)      (33)       (6)        1        (5)
----------------------------------------------------------------------------
EBIT before                                                                 
 special                                                                    
 items(2)       $     382       453       835       502       700     1,202 
Special items         (23)      163       140         -         -         - 
----------------------------------------------------------------------------
EBIT            $     405 $     290       695 $     502 $     700     1,202 
Financing                                                                   
 expense                                  596                           681 
Financing income                         (599)                         (519)
----------------------------------------------------------------------------
EBT                                       698                         1,040 
Income taxes                              100                           203 
----------------------------------------------------------------------------
Net income                          $     598                     $     837 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EPS (basic and                                                              
 diluted; in                                                                
 dollars)                           $    0.32                     $    0.47 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Supplemental                                                                
 information                                                                
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EBIT before                                                                 
 special                                                                    
 items(2)       $     382 $     453 $     835 $     502 $     700 $   1,202 
Amortization          242       129       371       195       138       333 
----------------------------------------------------------------------------
EBITDA before                                                               
 special                                                                    
 items(2)       $     624 $     582 $   1,206 $     697 $     838 $   1,535 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
On an adjusted                                                              
 basis                                                                      
----------------------------------------------------------------------------
Adjusted net                                                                
 income(2)                          $     692                     $     865 
Adjusted EPS (in                                                            
 dollars)(2)                        $    0.38                     $    0.48 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Cash flows from                                                             
 operating                                                                  
 activities                                                                 
 (usage)        $   1,104 $     504           $     867 $    (269)          
Net additions to                                                            
 PP&E and                                                                   
 intangible                                                                 
 assets            (1,971)     (118)             (1,320)     (155)          
----------------------------------------------------------------------------
Segmented free                                                              
 cash flow                                                                  
 (usage)(2)     $    (867)$     386 $    (481)$    (453)$    (424)$    (877)
Net income taxes                                                            
 and net                                                                    
 interest paid                           (260)                         (355)
----------------------------------------------------------------------------
Free cash flow                                                              
 usage(2)                           $    (741)                    $  (1,232)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
BA: Bombardier Aerospace; BT: Bombardier Transportation                    
                                                                           
(1)  Our fiscal year ended December 31, 2011 comprises 11 months of BA's   
     results and 12 months of BT's results.                                
                                                                           
(2)  Non-GAAP financial measure. Refer to the Non-GAAP financial measures  
     and Consolidated results of operations sections in Overview of the    
     Corporation's MD&A for definitions of these metrics. Refer also to the
     Consolidated results of operations and Liquidity and capital resources
     sections and Analysis of results sections in BA and BT in Overview of 
     the Corporation's MD&A for reconciliations to most comparable IFRS    
     measures.                                                             

 
SELECTED FINANCIAL INFORMATION 
Bombardier Aerospace 


 
Revenues by geographic region(1)                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                         12 months ended     11 months ended
----------------------------------------------------------------------------
                                       December 31, 2012   December 31, 2011
----------------------------------------------------------------------------
  North America                        $   4,811     56%   $   4,281     50%
  Europe                                   1,723     20%       1,
907     22%
  Asia-Pacific                             1,126     13%       1,282     15%
  Rest of world(2)                           968     11%       1,124     13%
----------------------------------------------------------------------------
                                       $   8,628    100%   $   8,594    100%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1)  Revenues are attributed to countries based on the location of the     
     customer.                                                             
(2)  The region Rest of world includes South America, Central America,     
     Africa, the Middle East and the CIS.                                  
                                                                           
                                                                           
Total aircraft deliveries                                                   
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                            Three months  Two months   12 months   11 months
                                   ended       ended       ended       ended
                            ------------------------------------------------
                             December 31 December 31 December 31 December 31
(in units)                          2012        2011        2012        2011
----------------------------------------------------------------------------
  Business aircraft                                                         
    Excluding those of the                                                  
     Flexjet fractional                                                     
     ownership program                59          47         176         161
    Flexjet fractional                                                      
     ownership program(1)              1           1           3           2
----------------------------------------------------------------------------
                                      60          48         179         163
  Commercial aircraft                 16          11          50          78
  Amphibious aircraft                  1           1           4           4
----------------------------------------------------------------------------
                                      77          60         233         245
----------------------------------------------------------------------------
----------------------------------------------------------------------------
 (1) An aircraft delivery is included in the above table when the          
     equivalent of 100% of the fractional shares of an aircraft model has  
     been sold to external customers through Flexjet, or when a whole      
     aircraft has been sold to external customers through the Flexjet One  
     program.                                                              
                                                                           
                                                                           
Total aircraft net orders                                                   
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                December 31, 2012          December 31, 2011
----------------------------------------------------------------------------
                                                                            
                          Gross Cancel-       Net    Gross Cancel-       Net
                         orders lations    orders   orders lations    orders
----------------------------------------------------------------------------
Fourth quarters ended          Three months ended           Two months ended
----------------------------------------------------------------------------
  Business aircraft                                                         
   (including those of                                                      
   the Flexjet                                                              
   fractional                                                               
   ownership program)       141     (17)      124       44      (3)       41
  Commercial aircraft        60       -        60        2       -         2
----------------------------------------------------------------------------
                            201     (17)      184       46      (3)       43
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Fiscal years ended                12 months ended            11 months ended
----------------------------------------------------------------------------
  Business aircraft                                                         
   (including those of                                                      
   the Flexjet                                                              
   fractional                                                               
   ownership program)       392     (49)      343      223     (32)      191
  Commercial aircraft       138       -       138       54       -        54
  Amphibious aircraft         -       -         -        4       -         4
----------------------------------------------------------------------------
                            530     (49)      481      281     (32)      249
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
Book-to-bill ratio(1)                                                       
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                            Three months  Two months   12 months   11 months
                                   ended       ended       ended       ended
----------------------------------------------------------------------------
                             December 31 December 31 December 31 December 31
                                    2012        2011        2012        2011
----------------------------------------------------------------------------
  Business aircraft                  2.1         0.9         1.9         1.2
  Commercial aircraft                3.8         0.2         2.8         0.7
----------------------------------------------------------------------------
  Total                              2.4         0.7         2.1         1.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1)  Defined as net orders received over aircraft deliveries, in units.    
                                                                           
                                                                           
Total order backlog                                                         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                       As at
----------------------------------------------------------------------------
(in billions of dollars)               December 31, 2012   December 31, 2011
----------------------------------------------------------------------------
  Aircraft programs                   $             29.5  $             21.4
  Long-term maintenance and spares                                          
   support agreements                                2.8                 1.9
  Military Aviation Training                         0.6                 0.6
----------------------------------------------------------------------------
                                      $             32.9  $             23.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------

 
Bombardier Transportation 


 
Revenues by geographic region                                               
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                          Three months ended                 12 months ended
                                                                            
                                 December 31                     December 31
--------------------------------------------------
--------------------------
                        2012            2011            2012            2011
----------------------------------------------------------------------------
  Europe(1)  $  1,326    61% $  1,467    64% $  5,141    63% $  6,275    64%
  North                                                                     
   America        359    17%      373    16%    1,454    18%    1,396    14%
  Asia-                                                                     
   Pacific        326    15%      257    11%    1,004    12%    1,444    15%
  Rest of                                                                   
   world(2)       147     7%      203     9%      541     7%      638     7%
----------------------------------------------------------------------------
             $  2,158   100% $  2,300   100% $  8,140   100% $  9,753   100%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1)  The decreases in Europe reflect negative currency impacts of $42      
     million and $403 million, respectively, for the fourth quarter and    
     fiscal year ended December 31, 2012.                                  
                                                                           
(2)  The region Rest of world includes South America, Central America,     
     Africa, the Middle East and the CIS.                                  
                                                                           
                                                                           
Order intake and book-to-bill ratio                                         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                    Three months ended       12 months ended
                                           December 31           December 31
----------------------------------------------------------------------------
  Order intake (in billions of                                              
   dollars)                            2012       2011       2012       2011
----------------------------------------------------------------------------
  Rolling stock                  $      0.7  $     2.1  $     5.1  $     6.4
  Services                              1.5        0.5        2.5        1.1
  System and signalling                 0.8        0.4        1.8        2.2
----------------------------------------------------------------------------
                                 $      3.0  $     3.0  $     9.4  $     9.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
  Book-to-bill ratio                    1.4        1.3        1.2        1.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
Order backlog                                                               
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                       As at
----------------------------------------------------------------------------
  (in billions of dollars)               December 31, 2012 December 31, 2011
----------------------------------------------------------------------------
  Rolling stock(1)                        $           22.3  $           22.6
  Services                                             7.1               5.5
  System and signalling                                4.3               3.8
----------------------------------------------------------------------------
                                          $           33.7  $           31.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1)  Of which $13.4 billion, or 60% of rolling stock order backlog, had a  
     percentage of completion from 0% to 25% as at December 31, 2012 ($15.3
     billion, or 68%, as at December 31, 2011).                            

 
ADVANCE NOTICE BY-LAW 
The Board of Directors of the Corporation has approved an amendment
to the Corporation's By-Law One to add an advance notice requirement
(the By-Law Amendment), which requires advance notice to the
Corporation in certain circumstances where nominations of persons for
election as a director of the Corporation are made by shareholders. 
In the case of an annual meeting of shareholders, notice to the
Corporation must be made not less than 30 nor more than 65 days prior
to the date of the annual meeting; provided, however, that in the
event that the annual meeting is to be held on a date that is less
than 50 days after the date on which the first public announcement of
the date of the annual meeting was made, notice may be made not later
than the close of business on the 10th day following such public
announcement. 
In the case of a special meeting of shareholders (which is not also
an annual meeting), notice to the Corporation must be made not later
than the close of business on the 15th day following the day on which
the first public announcement of the date of the special meeting was
made. 
The By-Law Amendment is effective immediately. At the next meeting of
shareholders of the Corporation, shareholders will be asked to
confirm and ratify the By-Law Amendment. 
DIVIDENDS ON COMMON SHARES  
Class A and Class B Shares 
A quarterly dividend of $0.025 Cdn per share on Class A Shares
(Multiple Voting) and of $0.025 Cdn per share on Class B Shares
(Subordinate Voting) is payable on March 31, 2013 to the shareholders
of record at the close of business on March 15, 2013. 
Holders of Class B Shares (Subordinate Voting) of record at the close
of business on March 15, 2013 also have a right to a priority
quarterly dividend of $0.000390625 Cdn per share.  
DIVIDENDS ON PREFERRED SHARES  
Series 2 Preferred Shares  
A monthly dividend of $0.0625 Cdn per share on Series 2 Preferred
Shares has been paid on November 15 and December 15, 2012, January 15
and February 15, 2013. 
Series 3 Preferred Shares 
A quarterly dividend of $0.195875 Cdn per share on Series 3 Preferred
Shares is payable on April 30, 2013 to the shareholders of record at
the close of business on April 12, 2013.  
Series 4 Preferred Shares 
A quarterly dividend of $0.390625 Cdn per share on Series 4 Preferred
Shares is payable on April 30, 2013 to the shareholders of record at
the close of business on April 12, 2013. 
About Bombardier 
Bombardier is the world's only manufacturer of both planes and
trains. Looking far ahead while delivering today, Bombardier is
evolving mobility worldwide by answering the call for more efficient,
sustainable and enjoyable transportation everywhere. Our vehicles,
services and, most of all, our employees are what make us a global
leader in transportation. 
Bombardier is headquartered in Montreal, Canada. Our shares are
traded on the Toronto Stock Exchange (BBD) and we are listed on the
Dow Jones Sustainability World and North America indexes. In the
fiscal year ended December 31, 2012, we posted revenues of $16.8
billion. News and information are available at bombardier.com or
follow us on Twitter @Bombardier.  
Bombardier, Challenger, CRJ, CRJ900, CS300, CSeries, FLEXITY,
Flexjet, Global, Learjet, Learjet 85, NextGen, Q400, The Evolution of
Mobility and TALENT are trademarks of Bombardier Inc. or its
subsidiaries.  
The Management's Discussion and Analysis and the interim consolidated
financial statements are avail
able at ir.bombardier.com.  
FORWARD-LOOKING STATEMENTS 
This press release includes forward-looking statements, which may
involve, but are not limited to: statements with respect to our
objectives, guidance, targets, goals, priorities, our market and
strategies, financial position, beliefs, prospects, plans,
expectations, anticipations, estimates and intentions; general
economic and business outlook, prospects and trends of an industry;
expected growth in demand for products and services; product
development, including projected design, characteristics, capacity or
performance; expected or scheduled entry-into-service of products and
services, orders, deliveries, testing, lead times, certifications and
project execution in general; our competitive position; and the
expected impact of the legislative and regulatory environment and
legal proceedings on our business and operations. Forward-looking
statements generally can be identified by the use of forward looking
terminology such as "may", "will", "expect", "intend", "anticipate",
"plan", "foresee", "believe", "continue", "maintain" or "align", the
negative of these terms, variations of them or similar terminology.
By their nature, forward-looking statements require us to make
assumptions and are subject to important known and unknown risks and
uncertainties, which may cause our actual results in future periods
to differ materially from forecasted results. While we consider our
assumptions to be reasonable and appropriate based on information
currently available, there is a risk that they may not be accurate.
For additional information with respect to the assumptions underlying
the forward looking statements made in this press release, refer to
the respective Guidance and forward-looking statements sections in
Overview, Bombardier Aerospace and Bombardier Transportation sections
in the Management's Discussion and Analysis ("MD&A") of the
Corporation's annual report for the fiscal year ended December 31,
2012. 
Certain factors that could cause actual results to differ materially
from those anticipated in the forward looking statements include
risks associated with general economic conditions, risks associated
with our business environment (such as risks associated with the
financial condition of the airline industry and major rail
operators), operational risks (such as risks related to developing
new products and services; doing business with partners; product
performance warranty and casualty claim losses; regulatory and legal
proceedings; to the environment; dependence on certain customers and
suppliers; human resources; fixed-price commitments and production
and project execution), financing risks (such as risks related to
liquidity and access to capital markets, exposure to credit risk,
certain restrictive debt covenants, financing support provided for
the benefit of certain customers and reliance on government support)
and market risks (such as risks related to foreign currency
fluctuations, changing interest rates, decreases in residual values
and increases in commodity prices). For more details, see the Risks
and uncertainties section in Other in the MD&A of the Corporation's
annual report for the fiscal year ended December 31, 2012. Readers
are cautioned that the foregoing list of factors that may affect
future growth, results and performance is not exhaustive and undue
reliance should not be placed on forward-looking statements. The
forward-looking statements set forth herein reflect our expectations
as at the date of this press release and are subject to change after
such date. Unless otherwise required by applicable securities laws,
we expressly disclaim any intention, and assume no obligation to
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise. The forward-looking
statements contained in this press release are expressly qualified by
this cautionary statement. 
CAUTION REGARDING NON-GAAP MEASURES  
This press release is based on reported earnings in accordance with
International Financial Reporting Standards (IFRS) and includes
measures presented on a pro forma basis to reflect the impact of our
January 2013 debt issuance. Reference to generally accepted
accounting principles (GAAP) means IFRS, unless indicated otherwise.
It is also based on non GAAP financial measures including EBITDA,
EBIT and EBITDA before special items, EBIT margin before special
items, adjusted net income, adjusted earnings per share and free cash
flow. These non-GAAP measures are directly derived from the
Consolidated Financial Statements, but do not have a standardized
meaning prescribed by IFRS; therefore, others using these terms may
calculate them differently. Management believes that providing
certain non-GAAP performance measures, in addition to IFRS measures,
provides users of our consolidated financial statements with enhanced
understanding of our results and related trends and increases
transparency and clarity into the core results of our business. Refer
to the Non-GAAP financial measures and Consolidated results of
operations sections in the MD&A for definitions of these metrics.
Refer to Consolidated results of operations section and Analysis of
results sections in Bombardier Aerospace and Bombardier
Transportation of the Corporation's MD&A for reconciliations to the
most comparable IFRS measures.
Contacts:
Isabelle Rondeau
Director, Communications
Bombardier Inc.
+514 861 9481 
Shirley Chenier
Senior Director, Investor Relations
Bombardier Inc.
+514 861 9481
 
 
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