Rail division Bombardier Transportation suffered a 10% drop in third-quarter revenue from $1.985bn in 2015 to $US 1.78bn this year, although order intake jumped by 32% from $US 2.2bn to $US 2.9bn and its book-to-bill ratio improved slightly from 1.1 to 1.6.
Bombardier Transportation achieved a 15% improvement in third-quarter Ebit from $US 109m in 2015 to $US 125m in 2016, while third-quarter Ebitda before special items improved by 25% from $US 131m to $US 164m.
During the three-month period ending September 30 2016, Bombardier Transportation says its margin before special items improved to 7.9%, on an Ebit margin before special items of 6.7%.
“We continue to gain momentum as we execute our turnaround plan and transform our company,” says Mr Alain Bellemare, Bombardier’s president and CEO. “In the third quarter, we again delivered on our financial commitments, we achieved our program milestones and we continued to take the hard actions necessary to improve productivity, reduce costs and optimise our operations. As we close out 2016, we are confident in our strategy, our turnaround plan and in our ability to achieve our 2020 goals.”