Bombardier Inc. Class A · TSX:BBD.A
Bombardier Inc. Class A — Q1 2018 Earnings Presentation
12 slides from Bombardier Inc. Class A's earnings presentation, May 3, 2018
Slide 1: Financial Results for the First Quarter 2018
FINANCIAL RESULTS FOR THE FIRST QUARTER 2018 May 3, 2018 INVESTOR PRESENTATION
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION REGARDING FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements, which may involve, but are not limited to: statements with respect to the Corporation’s objectives, guidance, targets, goals, priorities, market and strategies, financial position, beliefs, prospects,
Slide 3: Strong Start to 2018
STRONG START TO 2018 Q1 2017 Q1 2018 HIGHLIGHTS (Restated for IFRS15)1 12% revenue growth, 6% excl. currency effect 21% growth at BT, including currency effect REVENUES $3.6B $4.0B 31 deliveries in BBA, 9% revenue growth 13 deliveries in BCA, including 5 CSeries Q1 Margin2 of 5.0%, net of
Slide 4: Q1 FCF Consistent with H1 Expectations
Q1 FCF CONSISTENT WITH H1 EXPECTATIONS H2 - FCF GENERATION GLOBAL 7000 ++ TRANSPORTATION ++ CONVERSION TO CASH + 2018 FCF WORKING CAPITAL C SERIES + GUIDANCE TIMING OF 2018 FCF BAES H2-2018 YoY VARIANCE ESTIMATE BREAKEVEN H1-2018 ±$150M ___ YoY VARIANCE ESTIMATE INVESTMENTS TO GROW GLOBAL 7000 TRANS
Slide 5: Steady Progress Executing 2018 Priorities
STEADY PROGRESS EXECUTING 2018 PRIORITIES AIRBUS Earlier than expected closing (by the end of Q2-2018) PARTNERSHIP De-consolidation post-closing Transaction price: ~US$635M SALE OF Net proceeds/gain: >US$550M DOWNSVIEW Closing expected in Q2-2018 ~US$500M equity issuance completed in Mar
Slide 6: Strong Financial Performance Across All Segments
STRONG FINANCIAL PERFORMANCE ACROSS ALL SEGMENTS Q1 REVENUES EBIT2 MARGIN2 HIGHLIGHTS 2018 $2.4B $189M 8.0% Revenues increased 21% YoY, 10% excl. FX BT 3% EBIT2 growth YoY from FX and lower JV income 2017 $2.0B $183M 9.4% and unfavorable contract mix (Restated for IFRS15)1 2018 31 deliveries $
Slide 7: Positioned for the Inflection Point in the Turnaround Plan
POSITIONED FOR THE INFLECTION POINT IN THE TURNAROUND PLAN ACCELERATING TRAIN PROJECT DELIVERIES CLOSE AIRBUS & DOWNSVIEW TRANSACTIONS IN Q2 CERTIFICATION & EIS OF THE GLOBAL 7000 7
Slide 8: Bombardier
BOMBARDIER
Slide 9: Global 7000 and Global 8000 Aircraft Program Disclaimer
GLOBAL 7000 AND GLOBAL 8000 AIRCRAFT PROGRAM DISCLAIMER The Global 7000 and Global 8000 aircraft program is currently in development, and as such is subject to changes in family strategy, branding, capacity, performance, design and/or systems. All specifications and data are approximate, may change
Slide 10: Reconciliation of Segment to Consolidated Results
RECONCILIATION OF SEGMENT TO CONSOLIDATED RESULTS Three-month periods ended March 31 2018 2017 restated(1) Revenues Business Aircraft $ 1,110 $ 1,022 Commercial Aircraft 463 525 Aerostructures and Engineering Services 446 398 Transportation 2,355 1,952 Corporate and Elimination (346) (292) $ 4,028 $
Slide 11: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES Reconciliation of EBITDA before special items and EBITDA to EBIT Three-month periods ended March 31 2018 2017 restated(1) EBIT $ 201 $ 150 Amortization 62 78 Impairment charges on PP&E 2 — EBITDA 265 228 Special items(2) — 23 EBITDA before special items $ 265 $ 25
Slide 12: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES Reconciliation of adjusted net income to net income and computation of adjusted EPS Three-month periods ended March 31 2018 2017 (per share) (per share) restated(1) (per share) (per share) Net income $ 44 $ 6 Adjustments to EBIT related to special items(2) — $ — 2