“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.
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