Bombardier posted net income of $837 million for 2011, up 8% over a $775 million net profit in 2010. Bombardier Aerospace, however, saw full-year EBIT fall 9.4% to $502 million as revenue slid 2.3% to $8.6 billion.
The unit's results are partially skewed by the fact that it last year moved to a Dec. 31 year end from Jan. 31 previously.
Aerospace's backlog at year end increased by 14.6% compared to Jan. 31, 2011, to $22 billion. The unit received 249 net aircraft orders for the year, up 23.9% from 2010. Deliveries totaled 245 aircraft, down 4.2%. The manufacturer delivered 78 commercial aircraft last year, down 19.6% from 2010.
"Bombardier Aerospace expects to deliver approximately 180 business aircraft and 55 commercial aircraft [this year]," the Montreal-based company stated. "EBIT margin for [2012] is expected to be approximately 5%."
Bombardier president and CEO Pierre Beaudoin said the aerospace unit "navigated through another demanding year … We maintained our profitability, increased our level of net orders, grew our backlog … and continued to invest in many new programs." He noted that the current level of firm orders for the CSeries "represents the first two-and-a-half years of production" on the program. The narrowbody aircraft is slated to enter service by late 2013.
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