Bombardier Inc. : Bombardier Announces Financial Results for the First Quarter Ended March 31, 2013

Bombardier Inc. : Bombardier Announces Financial Results for the First Quarter
                             Ended March 31, 2013

Bombardier Inc. / Bombardier Announces Financial Results for the First Quarter
Ended March 31, 2013 . Processed and transmitted by Thomson Reuters ONE. The
issuer is solely responsible for the content of this announcement.

MONTREAL, QUEBEC--(Marketwired - May 9, 2013) - (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. Non-GAAP measures
are defined and reconciled to the most comparable IFRS measures in the
Corporation's MD&A. See Caution regarding Non-GAAP measures at the end of this
press release. Comparative figures have been restated. See Accounting and
reporting developments in the Corporation's MD&A.)

  *Revenues of $4.3 billion, compared to $3.5 billion last fiscal year
  *EBIT before special items[1]of $240 million, or 5.5% of revenues, compared
    to $188 million, or 5.4%, last fiscal year
  *EBIT of $240 million, or 5.5% of revenues, compared to $211 million, or
    6.1%, last fiscal year
  *Adjusted net income[1]of $156 million, compared to $150 million last
    fiscal year
  *Adjusted earnings per share[1]of $0.08, same as last fiscal year
  *Free cash flow usage[1]of $590 million, compared to a usage of $695
    million last fiscal year
  *Available short-term capital resources of $5.1 billion including cash and
    cash equivalents of $3.7 billion as at March 31, 2013, compared to $4.0
    billion and $2.6 billion respectively, as at December 31, 2012
  *Backlog of $63.0 billion as at March 31, 2013, compared to $64.9 billion
    as at December 31, 2012
  *Issuance of $2 billion of unsecured Senior Notes

[1] See Caution regarding Non-GAAP measures at the end of this press release.

Bombardier today reported its financial results for the first quarter ended
March 31, 2013. Revenues totalled $4.3 billion for the first quarter ended
March 31, 2013, compared to $3.5 billion for the same period last fiscal year.

For the first quarter ended March 31, 2013, earnings before financing expense,
financing income and income taxes (EBIT) before special items totalled $240
million, or 5.5% of revenues, compared to $188 million, or 5.4%, for the same
period last year.

On an adjusted basis, net income amounted to $156 million, or earnings per
share (EPS) of $0.08, for the first quarter ended March 31, 2013, compared to
$150 million, or EPS of $0.08, for the same period the previous year.

For the three-month period ended March 31, 2013, free cash flow usage (cash
flows from operating activities less net additions to property, plant and
equipment and intangible assets) totalled $590 million, compared to a usage of
$695 million for the same period the previous year. Available short-term
capital resources of $5.1 billion include cash and cash equivalents of $3.7
billion as at March 31, 2013, compared to $4.0 billion and $2.6 billion
respectively as at December 31, 2012. The overall backlog reached $63.0
billion as at March 31, 2013, compared to $64.9 billion as at December 31,
2012.

"We had a good first quarter, with an overall increase in revenues of 25%,"
said Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc.
"Aerospace is showing increased deliveries, revenues and EBIT, and the CSeries
tests are progressing well with first flight next month."

"Transportation also saw an increase in revenues and EBIT, and received a good
level of new orders across all divisions and key markets, totalling $2
billion. We expect an increase in revenues over the course of the year, while
making good progress towards the group's EBIT target of 8% by 2014. With our
strong overall backlog of $63 billion and state-of-the-art products coming
into service in the next few years, we're very well positioned for solid
future growth," concluded Mr. Beaudoin.

Bombardier Aerospace

Bombardier Aerospace's revenues amounted to $2.3 billion for the three-month
period ended March 31, 2013, compared to $1.5 billion for the same period last
fiscal year. EBIT before special items totalled $101 million or 4.5% of
revenues for the first quarter ended March 31, 2013, compared to $66 million,
or 4.4%, last fiscal year.

Free cash flow usage totalled $461 million (including net additions to
property, plant and equipment (PP&E) and intangible assets of $503 million)
for the first quarter ended March 31, 2013, compared to a usage of $572
million (including net additions to PP&E and intangible assets of $372
million) for the same period last fiscal year.

A total of 53 aircraft were delivered during the first quarter ended March 31,
2013, compared to 37 for the same period last fiscal year, including 39
business aircraft, compared to 29 for the same quarter last fiscal year.

Bombardier Aerospace signed a purchase agreement with Russia's Ilyushin
Finance Co. (IFC) to acquire 32 CS300 aircraft, with options for an additional
10. This agreement is subject to approval by the company's shareholders and
follows a letter of intent signed in 2011. Based on the list price, the
conditional order for 32 aircraft is valued at $2.6 billion. Additionally,
Danish lessor Nordic Aviation Capital purchased four Q400 NextGen aircraft,
bringing its Q400 aircraft fleet to 43.

Subsequent to quarter-end, in April 2013 Porter Airlines was identified as the
previously unidentified Americas-based CSeries aircraft customer when it
announced the conversion of its letter of intent to a conditional agreement
for up to 30 CS100 aircraft. This $2.08 billion-commitment, based on list
price, makes Porter Airlines the Canadian CSeries aircraft launch customer. As
at March 31, 2013, commitments for the CSeries totalled 388, including 145
firm orders from nine customers in eight countries.

Bombardier Aerospace's backlog totalled $32 billion as at March 31, 2013,
compared to $32.9 billion as at December 31, 2012.

Bombardier Transportation

Bombardier Transportation's revenues amounted to $2.1 billion for the
three-month period ended March 31, 2013, compared to $2.0 billion for the same
period last year. EBIT totalled $139 million, or 6.7% of revenues, compared to
$122 million, or 6.2%, for the same quarter the previous year. Free cash flow
usage totalled $73 million for the quarter ended March 31, 2013, compared to a
usage of $85 million for the same period last fiscal year.

New orders reached $2.0 billion (book-to-bill ratio of 0.9), compared to $1.2
billion for the same quarter last fiscal year. The order backlog totalled
$31.0 billion as at March 31, 2013, compared to $32.0 billion as at December
31, 2012 (comparative numbers have been restated to exclude Bombardier
Transportation's proportionate share of joint ventures' backlog). The $1
billion or 3% decrease in order backlog is mainly due to the weakening of some
foreign currencies versus the U.S. dollar as at March 31, 2013 compared to
December 31, 2012, mainly the euro and pound sterling.

The group's new orders included a variation order for 170 additional cars
under a framework agreement with Siemens AG to develop and supply important
components for the next ICx high speed trains for Deutsche Bahn, valued at
$440 million.

In January and April 2013, Bombardier Transportation's partner, CSR Nanjing
Puzhen Rolling Stock Co. Ltd from China, won orders for 18 low-floor trams and
15 catenary-free low-floor trams, which will be built based on the group's
FLEXITY 2 technology. The vehicles will be equipped with the innovative FLEXX
urban 3000 bogies and MITRAC 500 propulsion and control system. Bombardier
Transportation will support the projects under a technology license agreement
signed in 2012. The latter is the first order worldwide for a catenary-free
tram equipped with the new light and long-life Bombardier PRIMOVE battery.

After quarter-end, Bombardier Transportation signed agreements with Russian
rail manufacturer Uralvagonzavod (UVZ) establishing a partnership for joint
development of metros for the market in Russia and the CIS.

FINANCIAL HIGHLIGHTS
(In millions of U.S. dollars, except per share amounts)
For the three-month
periods ended March 31              2013                                2012
                  BA        BT     Total        BA        BT           Total
                                                                 restated[1]
Results of
operations
Revenues     $ 2,258   $ 2,081   $ 4,339   $ 1,499   $ 1,982   $       3,481
Cost of
sales          1,951     1,772     3,723     1,261     1,645           2,906
Gross margin     307       309       616       238       337             575
SG&A             158       186       344       162       202             364
R&D               42        28        70        31        34              65
Share of
income of
joint
ventures and
associates         -       (44 )     (44 )       -       (19 )           (19 )
Other
expense
(income)           6         -         6       (21 )      (2 )           (23 )
EBIT before
special
items[2]         101       139       240        66       122             188
Special
items              -         -         -       (23 )       -             (23 )
EBIT         $   101   $   139       240   $    89   $   122             211
Financing
expense                               75                                  82
Financing
income                               (40 )                               (45 )
EBT                                  205                                 174
Income taxes                          57                                  19
Net income                       $   148                       $         155
EPS (basic
and diluted;
in dollars)                      $  0.08                       $        0.08
Supplemental
information
EBIT before
special
items[2]     $   101   $   139   $   240   $    66   $   122   $         188
Amortization      61        30        91        50        31              81
EBITDA
before
special
items[2]     $   162   $   169   $   331   $   116   $   153   $         269
On an
adjusted
basis
Adjusted net
income[2]                        $   156                       $         150
Adjusted EPS
(in
dollars)[2]                      $  0.08                       $        0.08
Cash flows
from
operating
activities   $    42   $   (62 )           $  (200 ) $   (74 )
Net
additions to
PP&E and
intangible
assets          (503 )     (11 )              (372 )     (11 )
Segmented
free cash
flow[2]      $  (461 ) $   (73 ) $  (534 ) $  (572 ) $   (85 ) $        (657 )
Net income
taxes and
net interest
paid                                 (56 )                               (38 )
Free cash
flow[2]                          $  (590 )                     $        (695 )

BA: Bombardier Aerospace; BT: Bombardier Transportation

[1] Certain comparative figures have been restated as a result of our adoption
    of the amended IAS 19, Employee benefits, and IFRS 11, Joint arrangements.
    The joint arrangement restatements relate to the requirement to account
    for our investments in joint ventures using the equity method under IFRS
    11, instead of proportionate consolidation. The employee benefit
    restatements mainly relate to the requirement under amended IAS 19 to
    calculate interest expense and interest income components on a net basis
    using the post-employment benefit obligation discount rate. Comparative
    figures have also been restated due to the change in methods of
    measurement of certain financial assets, as described in the Accounting
    and reporting developments section of the Corporation's MD&A.
[2] Non-GAAP financial measure. Refer to the Non-GAAP financial measures and
    Liquidity and capital resources sections of the Corporation's MD&A for
    definitions of these metrics and reconciliation to the most comparable
    IFRS measures.

SELECTED FINANCIAL INFORMATION

Bombardier Aerospace

Total aircraft deliveries
                                            Three-month periods ended March 31
(in units)                                                   2013         2012
Business aircraft
         Excluding those of the Flexjet fractional
         ownership program                                     38           28
         Flexjet fractional ownership program[1]                1            1
                                                               39           29
Commercial aircraft                                            13            7
Amphibious aircraft                                             1            1
                                                               53           37
[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
Three-month periods
ended                            March 31, 2013                 March 31, 2012
(in units)           Gross                  Net   Gross                    Net
                    orders Cancellations orders  orders  Cancellations  orders
Business aircraft
(including those of
the Flexjet
fractional
ownership program)      36           (9)     27      49            (9)      40
Commercial aircraft      4           (3)      1      28              -      28
                        40          (12)     28      77            (9)      68
Book-to-bill ratio[1]
                                                     Three-month periods ended
                                                                      March 31
                                                           2013           2012
Business aircraft                                           0.7            1.4
Commercial aircraft                                         0.1            4.0
Total                                                       0.5            1.8

[1] Defined as net orders received over aircraft deliveries, in units.
Order backlog
                                                                         As at
(in billions of dollars)                     March 31, 2013  December 31, 2012
Aircraft programs                                $     28.7        $      29.5
Long-term maintenance and spares support
agreements                                              2.8                2.8
Military Aviation Training                              0.5                0.6
                                                 $     32.0        $      32.9

Bombardier Transportation

Revenues by geographic region
                                       Three-month periods ended March 31
                                        2013                         2012
                                                                 restated
Europe                      $    1,399    67 %      $    1,349         68 %
North America                      371    18 %             388         20 %
Asia-Pacific                       212    10 %              69          3 %
Rest of world[1]                    99     5 %             176          9 %
                            $    2,081   100 %      $    1,982        100 %
[1] The Rest of world region includes South America, Central America, Africa,
the Middle East and the CIS.

Order intake and book-to-bill ratio
                                            Three-month periods ended March 31
Order intake (in billions of dollars)[1]               2013               2012
Rolling stock                                   $       1.1       $        0.6
Services                                                0.6                0.3
System and signalling                                   0.3                0.3
                                                $       2.0       $        1.2
Book-to-bill ratio[2]                                   0.9                0.6
[1] Including any new orders between BT and its joint ventures, but excluding
the order intake of our joint ventures.
                      
[2] Ratio of new orders over revenues.

Order backlog[1]
                                                                         As at
(in billions of dollars)              March 31, 2013         December 31, 2012
                                                                      restated
Rolling stock                           $       19.9          $           20.7
Services                                         6.9                       7.0
System and signalling                            4.2                       4.3
                                        $       31.0          $           32.0
[1] Including the order backlog for contracts between BT and its joint
ventures, but excluding our share of joint ventures' backlog, which was $2.1
billion as at March 31, 2013 ($2.2 billion as at December 31, 2012).

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 June 30, 2013 to the shareholders of record at the close of
business on June 14, 2013.

Holders of Class B Shares (Subordinate Voting) of record at the close of
business on June 14, 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 March 15 and April 15, 2013.

Series 3 Preferred Shares

A quarterly dividend of $0.195875 Cdn per share on Series 3 Preferred Shares
is payable on July 31, 2013 to the shareholders of record at the close of
business on July 12, 2013.

Series 4 Preferred Shares

A quarterly dividend of $0.390625 Cdn per share on Series 4 Preferred Shares
is payable on July 31, 2013 to the shareholders of record at the close of
business on July 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.

CS100, CS300, CSeries, FLEXITY, FLEXX, MITRAC, NextGen, PRIMOVE, Q400, and The
Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries.

The Management's Discussion and Analysis and the interim consolidated
financial statements are available 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") in 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; 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). Reference to generally
accepted accounting principles (GAAP) means IFRS, unless indicated otherwise.
This press release is also based on non-GAAP financial measures including
EBITDA, EBIT before special items, EBIT margin before special items, adjusted
net income, adjusted earnings per share and free cash flow. These non-GAAP
measures are mainly derived from the interim 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 interim 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 Liquidity and capital resources sections in
the Corporation's MD&A for definitions of these metrics and reconciliations to
the most comparable IFRS measures.

Contact Information

Contacts:
Isabelle Rondeau
Director, Communications
Bombardier Inc.
+514 861 9481

Shirley Chenier
Senior Director, Investor Relations
Bombardier Inc.
+514 861 9481
www.bombardier.com

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