Bombardier Inc. Class A · TSX:BBD.A
Bombardier Inc. Class A — Q3 2020 Earnings Presentation
17 slides from Bombardier Inc. Class A's earnings presentation, Nov 5, 2020
Slide 1: Financial Results Third Quarter 2020
FINANCIAL RESULTS THIRD QUARTER 2020 November 5, 2020
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, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contributi
Slide 3: Key Priorities
KEY PRIORITIES Progress on six near-term priorities 1. Proactively manage the business through COVID-19 2. Drive predictability at Transportation 3. Align Aviation production with market 4. Grow Aviation aftermarket 5. Complete ongoing divestitures 6. Set the foundation for long-term success 3
Slide 4: Progress Report
PROGRESS REPORT Transitioning to a focused Business Aircraft company ▪ Implemented the HPS $1.0 billion senior secured term loan facility to bridge short-term liquidity needs resulting from the pandemic. ▪ Completed the exit from Commercial aviation market with the closing of the aerostructure busin
Slide 5: Revenues
REVENUES For the three-month periods ended September 30 1 3 TOTAL AVIATION TRANSPORTATION $1.6B $2.2B $2.1B $1.4B Divestitures2 Divestitures2 +10% Business Aircraft $1.1B $1.2B Growth $3.7B $3.5B 2019 2020 2019 2020 AIRCRAFT DELIVERIES REVENUES DISTRIBUTION Q3 2020 Q3 2020 2 12% 2019 2020 9 24 13 25
Slide 6: Earnings
EARNINGS For the three-month periods ended September 30 1 3 TOTAL AVIATION TRANSPORTATION 2 ADJUSTED EARNINGS $255M 6.9% $154M $144M $176M Adj. EBITDA2 9.9% 6.6% $114M Adj. EBITDA2 5.0% 8.1% $92M Adj. EBITDA2 4.3% $159M $110M $93M 5.1% 4.3% 6.0% $62M Adj. EBIT2 $51M 1.4% Adj. EBIT2 2.9% $19M 1.4% Ad
Slide 7: Free Cash Flow and EPS
FREE CASH FLOW1 AND EPS For the three-month periods ended September 30 TOTAL ADJUSTED EPS1,2 TOTAL Q3 2020 FREE CASH FLOW1,2 $(0.04) $(0.13) 2019 2020 $(644)M $(62)M $(706)M TOTAL DILUTED EPS2 CASH FLOW 1,2 FROM OPERATING CAPEX3 FCF ACTIVITIES USAGE $0.05 $(0.06) 2019 2020 Note: Chart data may not b
Slide 8: Liquidity Update
LIQUIDITY UPDATE Liquidity expected to strengthen by year-end through positive FCF generation in the fourth quarter 1 AVAILABLE SHORT-TERM CAPITAL RESOURCES ~$3.0B $2.7B $275M AVAILABLE ON BOMBARDIER INC. SENIOR SECURED TERM LOAN $0.3B PROCEEDS FROM THE SALE OF THE AEROSTRUCTURES BUSINESS CLOSED ON
Slide 9: Bombardier
BOMBARDIER
Slide 10: Consolidated Financial Performance
CONSOLIDATED FINANCIAL PERFORMANCE Three-month periods ended September 30 2020 2019 Continuing Discontinued Continuing Discontinued Total Operations Operations Total Operations Operations1 restated 1 restated 1 REVENUES $1.4B $2.1B $3.5B $1.5B $2.2B $3.7B 2 ADJUSTED EBITDA $84M $92M $176M $111M $144
Slide 11: Consolidated Financial Performance
CONSOLIDATED FINANCIAL PERFORMANCE Nine-month periods ended September 30 2020 2019 Continuing Discontinued Continuing Discontinued Total Operations Operations Total Operations Operations1 restated 1 restated 1 REVENUES $4.2B $5.8B $9.9B $5.1B $6.5B $11.6B 2 ADJUSTED EBITDA $201M $(173)M $28M $425M $
Slide 12: Aviation Financial Performance
AVIATION FINANCIAL PERFORMANCE Three-month periods ended September 30 Nine-month periods ended September 30 2020 2019 VARIANCE 2020 2019 VARIANCE REVENUES $1.4B $1.6B (10)% $4.2B $5.1B (18)% 1 ADJUSTED EBITDA $114M $154M (26)% $271M $578M (53)% 1 ADJUSTED EBITDA MARGIN 8.1% 9.9% (180) bps 6.5% 11.4%
Slide 13: Transportation Financial Performance
1 TRANSPORTATION FINANCIAL PERFORMANCE Three-month periods ended September 30 Nine-month periods ended September 30 2020 2019 VARIANCE 2020 2019 VARIANCE REVENUES $2.1B $2.2B (3)% $5.8B $6.5B (11)% 2 ADJUSTED EBITDA $92M $144M (36)% $(173)M $408M nmf 2 ADJUSTED EBITDA MARGIN 4.3% 6.6% (230) bps (2.9
Slide 14: Caution Regarding Non-GAAP Financial Measures
CAUTION REGARDING NON-GAAP FINANCIAL MEASURES This presentation is based on reported earnings in accordance with IFRS and on the following non-GAAP financial measures: Non-GAAP financial measures Adjusted EBIT EBIT excluding special items. Special items comprise items which do not reflect the Corpor
Slide 15: Reconciliation of Segment to Consolidated Results
RECONCILIATION OF SEGMENT TO CONSOLIDATED RESULTS 1. Transportation was classified as discontinued operations as of September 30, 2020. As a result, the results of operations have been restated for comparative periods. Refer to Note 21 - Discontinued operations to our Interim consolidated financial
Slide 16: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES 1. Transportation was classified as discontinued operations as of September 30, 2020. As a result, the results of operations have been restated for comparative periods. Refer to Note 21 - Discontinued 16 operations to our Interim consolidated financial s
Slide 17: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES 1. Transportation was classified as discontinued operations as of September 30, 2020. As a result, the results of operations have been restated for comparative periods. Refer to Note 21 - Discontinued 17 operations to our Interim consolidated financial s