Bombardier: cuts loss, new measures announced
(CercleFinance.com) - Bombardier on Thursday published reduced losses for FY 2020 and presented new measures intended to improve its productivity and profitability.
The Canadian manufacturer - now refocused on business jets - indicates that its net loss for the past year has been sharply reduced to 568 million dollars, from a loss of 1.6 billion dollars in 2019.
Its adjusted loss nevertheless stands at 1.1 billion dollar, compared to 406 million dollars reported in 2019.
Revenue fell 13% to less than 6.5 billion dollars, although revenue from business aircraft activities rose 3% to 5.6 billion dollars, with 114 planes delivered.
The market didn't like this one but it seems - the B share is down almost 10% in early trading in Toronto.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The Canadian manufacturer - now refocused on business jets - indicates that its net loss for the past year has been sharply reduced to 568 million dollars, from a loss of 1.6 billion dollars in 2019.
Its adjusted loss nevertheless stands at 1.1 billion dollar, compared to 406 million dollars reported in 2019.
Revenue fell 13% to less than 6.5 billion dollars, although revenue from business aircraft activities rose 3% to 5.6 billion dollars, with 114 planes delivered.
The market didn't like this one but it seems - the B share is down almost 10% in early trading in Toronto.
Copyright (c) 2021 CercleFinance.com. All rights reserved.