Bombardier Inc. Class A · TSX:BBD.A
Bombardier Inc. Class A — Q4 2016 Earnings Presentation
12 slides from Bombardier Inc. Class A's earnings presentation, Feb 16, 2017
Slide 1: Financial Results for the Fourth Quarter and Full Year 2016
FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2016 STAKEHOLDER PRESENTATION FEBRUARY 16, 2017
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 our objectives, guidance, targets, goals, priorities, market and strategies, financial position, beliefs, prospects, plans, expect
Slide 3: Strong Finish to 2016
STRONG FINISH TO 2016 Q4 2016 2016 REVENUES $4.4B $16.3B EBIT $104M $427M before special items1 FCF1 $496M ($1.06B) EBIT AND FCF1 EXCEEDED GUIDANCE FOR 2016 3 1. EBIT refers to EBIT before special items. Non-GAAP measure. See Caution regarding Non-GAAP measures at the end of this presentation. Non-G
Slide 4: Margin Expansion at BT, BBA and BAES
MARGIN EXPANSION AT BT, BBA AND BAES +180 +200 +220 +$33M bps bps bps EBIT MARGIN Before special items1 8.0% 7.4% ($450M) 6.4% 5.8% 5.6% ($417M) 4.4% 2015 2016 2015 2016 2015 2016 2016 EBIT GUIDANCE ACTUAL BT BBA BAES BCA 1. Non-GAAP measure. See Caution regarding Non-GAAP measures at the end of thi
Slide 5: Controlled & Predictable FCF Performance; Liquidity Secured
CONTROLLED & PREDICTABLE FCF PERFORMANCE; LIQUIDITY SECURED Invested > $1.1B in 2016 to fund growth • BCA development spend $392 (mainly C Series) FCF1 • BBA development spend $721M (mainly Global 7000/8000) ($1.06B) Includes $165M investment in margin growth (restructuring) Liquidity $3.4B Ca
Slide 6: Strong Financial Performance Across All Segments
STRONG FINANCIAL PERFORMANCE ACROSS ALL SEGMENTS REVENUES EBIT1 2016 PERFORMANCE Q4 $1.9B 9.3% Book-to-bill of 1.1x BT 2016 $7.6B 7.4% 163 Deliveries Q4 $1.7B 6.1% BBA - 51 Global 2016 $5.7B 6.4% - 88 Challenger - 24 Learjet Q4 117 Net C Series Orders BCA $0.7B ($141M) 86 Deliveries 2016 $2.
Slide 7: Entering 2017 with Confidence
ENTERING 2017 WITH CONFIDENCE REVENUE EBIT FCF1 BEFORE SPECIAL ITEMS1 INCL. RESTRUCTURING 2017 LOW SINGLE $530M – $630M ($750M) - ($1B) GUIDANCE2 DIGIT GROWTH BT ~ $8.5B ~ 7.5% RESTRUCTURING SPECIAL ITEMS BBA ~ $5.0B ~ 7.5% $250M - $300M ~ 135 deliveries BCA ~ $2.9B (~ $400M) ~ 80-85 deliveries BAES
Slide 8: Executing Our Turnaround Plan
EXECUTING OUR TURNAROUND PLAN PROVEN MARGIN EXPANSION POTENTIAL CONTROLLED AND DISCIPLINED FCF PERFORMANCE VERY STRONG CASH AND LIQUIDITY POSITION CONTINUED PROACTIVE MANAGEMENT FIRMLY ON PATH TO EARNINGS GROWTH AND CASH GENERATION 8 8
Slide 9: Bombardier
BOMBARDIER
Slide 10: Global 7000 and Global 8000 Aircraft Program Disclaimer; Caution Regarding Non-GAAP Measures
GLOBAL 7000 AND GLOBAL 8000 AIRCRAFT PROGRAM DISCLAIMER 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 with
Slide 11: Reconciliation of Segment to Consolidated Results
RECONCILIATION OF SEGMENT TO CONSOLIDATED RESULTS Reconciliation of segment to consolidated results Fourth quarters Fiscal years ended December 31 ended December 31 2016 2015 2016 2015 Revenues Business Aircraft $ 1,651 $ 2,086 $ 5,741 $ 6,996 Commercial Aircraft 699 644 2,617 2,395 Aerostructures a
Slide 12: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES Reconciliation of EBITDA before special items and EBITDA to EBIT Fourth quarters Fiscal years ended December 31 ended December 31 2016 2015 2016 2015 EBIT $ 74 $ (657) $ (58) $ (4,838) Amortization 99 123 371 438 Impairment charges on PP&E and intangible assets(1)