A row of unfinished Bombardier Global Express aircraft is seen at a Bombardier plant in Montreal on Friday, June 5, 2020. Bombardier Inc. is raising its financial objectives for 2025. THE CANADIAN PRESS/Paul Chiasson
MONTREAL – Bombardier Inc. is raising its financial objectives for 2025.
The aircraft maker says the upgrade is based on strong business execution and fundamentals.
Bombardier, which keeps its books in U.S. dollars, says it is now targeting more than US$9 billion in revenue for 2025, up from about US$7.5 billion.
It is also increasing its objective for adjusted earnings before interest, taxes, depreciation and amortization to more than US$1.625 billion for 2025, up from about US$1.5 billion.
Free cash flow for 2025 is now targeted to be more than US$900 million, up from more than US$500 million.
Bombardier chief executive Éric Martel says all of Bombardier’s strategic priorities are on track or ahead of plan.
“We are therefore proud to announce today that we are confidently raising the bar,” Martel said in a statement.
This report by The Canadian Press was first published March 23, 2023.
Companies in this story: (TSX:BBD.B)
