Bombardier bumps up financial goals for 2025 as business jet market takes off

  • 📰 TheTorontoSun
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

Bombardier has upped its financial targets for 2025, as the plane maker looks to boost production of business jets amid a growing market.

“Yes, there’s a bit of turbulence short term, but in the long term … the fundamentals remain very, very strong,” he said, adding that cancellations for jet orders are few and far between.

If achieved, the higher cash flow through the next three years will position Bombardier to further pay down its sizeable debt. Bombardier had $4.69 billion in net debt at the end of 2022, more than five times its annual adjusted earnings. Bombardier also raised its EBITDA target to more than $1.63 billion for 2025, up from about $1.5 billion.“We do not view the decrease in margin outlook as an overly bearish indicator, given the implied improvement from 13.5 per cent in 2022,” said Poirier.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 23. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

COVID-19 pandemic cost Quebec $28 billion: finance departmentExpenses are planned until 2025, though much less than during the first year of the pandemic.
Source: ottawasuncom - 🏆 4. / 92 Read more »