Bombardier Transportation orders stay strong
Written by William C. Vantuono, Editor-in-ChiefBombardier Transportation increased its revenue by 26%, reaching $2.7 billion for the second quarter ended July 31, compared with $2.1 billion for the corresponding period last fiscal year, Bombardier Inc. announced Wednesday. During the second quarter, the Transportation segment reported new orders valued at $3.9 billion, representing a book-to-bill ratio of 1.5, compared to $4.3 billion of new orders on the prior year period.
“EBIT was $191 million, compared to $148 million last fiscal year, translating into an EBIT margin of 7.2% versus 7% last fiscal year,” said a corporate earnings statement. “Free cash flow usage amounted to $473 million for the second quarter ended July 31, 2011, compared to a usage of $122 million for the same period last fiscal year. The order backlog totaled $33.9 billion as at July 31, compared to $33.5 billion as at Jan. 31.”
Activity during the included a partnership with Siemens AG of Germany for the development and supply of components for ICx high speed trains for a Deutsche Bahn (DB) contract, under which a firm order was obtained for 130 trains valued at $1.8 billion. Bombardier Transportation also won an order from the London Underground for a CITYFLO 650 CBTC signaling system for a value of $577 million as well as an order from the Queensland Government of Australia for the Gold Coast Rapid Transit light rail system and a 15-year maintenance contract, for a value of $265 million.
Bombardier Transportation also signed a framework agreement with DB Regio AG, Germany, for 200 TRAXX diesel locomotives with multi-engine propulsion, estimated at $867 million. Under this agreement, a firm order for 20 locomotives was received, valued at $90 million.
After the end of the second quarter, the Chicago Transit Authority exercised an option for 300 additional rapid transit cars, valued at $331 million.
