BOMBARDIER INC B - BDRBF STOCK NEWS

Bombardier has received approvals from Transport Canada, EASA, and FAA for its Smart Link Plus system installations on Challenger and Global aircraft. Operators can now book installations across Bombardier's Service Centre network, enhancing operational efficiency through data-driven decisions. The Smart Link Plus system allows real-time monitoring and troubleshooting, significantly improving maintenance capabilities for in-service Challenger 300, 350, 3500, 605, and 650, as well as Global 5000, 6000, Express, and XRS models. The system was initially launched on the Global 7500 and is set to be included as standard on the new Global 8000. With continued expansion of its Service Centre network and the rollout of new products, Bombardier aims to enhance customer service and operational support.

On April 5, 2023, Bombardier announced a rating increase from Moody's, highlighting the company's significant progress in debt reduction, earnings growth, and free cash flow generation. This rating boost aligns with Bombardier's updated 2025 objectives presented at their recent Investor Day. The company's strategic plan from 2021 remains on track, focusing on reducing debt and improving financial performance. With a global fleet of approximately 5,000 aircraft and a strong customer support network, Bombardier is optimistic about its future. The company emphasizes its commitment to sustainable practices, aiming to utilize Sustainable Aviation Fuel (SAF) for all operations.

Bombardier hosted its 2023 Investor Day on March 23, showcasing significant progress toward its 2025 strategic objectives. The company now targets over $9 billion in annual revenue, exceeding previous estimates of $7.5 billion. Adjusted EBITDA expectations have been raised to above $1,625 million with an adjusted EBITDA margin of approximately 18%. Free cash flow is projected to surpass $900 million annually by 2025, while net leverage ratio objectives have improved to between 2.0x and 2.5x. Bombardier also reported a 23% revenue increase from 2020 to 2022, driven by growth in the aftermarket business. Future plans include expanding into Defense markets, aiming for over $1 billion in revenues by the decade's end.

Bombardier will host a virtual Investor Day on March 23, 2023, at 9:00 a.m. EDT. The event will feature updates on the company's initiatives towards its 2025 objectives, presented by key executives including Éric Martel, Bart Demosky, and Paul Sislian. A Q&A session will follow the presentation, allowing analysts and investors to engage directly with company leaders. Bombardier is a leader in aviation, known for its Challenger and Global aircraft families, with a fleet of approximately 5,000 aircraft in service worldwide.

Bombardier has successfully redeemed $500 million of its 7.50% Senior Notes due 2025, as part of its ongoing debt reduction strategy. This payment is a key milestone in Bombardier's commitment to strengthening its balance sheet, having already reduced total debt by over $4.5 billion, equating to a 45% decrease since 2020. The company has improved its credit risk profile, with an average long-term debt maturity of 4.7 years and annual interest charges lowered by more than $330 million compared to 2020. Further updates on Bombardier's capital structure will be provided during its virtual Investor Day on March 23, 2023.

Bombardier announced the redemption of all its outstanding 7.500% Senior Notes due 2024, effective February 16, 2023. This action follows the formal notice of redemption issued on January 17, 2023. The payment for the redemption will be handled through the Depository Trust Company in line with established procedures. The company reiterated that these securities have not been registered under the United States Securities Act or Canadian securities laws and cannot be offered without proper registration or exemption. Additionally, the press release included forward-looking statements that carry inherent risks and uncertainties.

Bombardier has concluded its cash tender offer, expiring on February 13, 2023, for up to $354 million of its outstanding 7.50% Senior Notes due 2025. The total validly tendered amounts to $264 million, adding to the previously tendered $258 million, totaling approximately 22.71% of the Notes outstanding. Following the offer, about $880 million in Notes will remain. All tendered Notes will be accepted for purchase, with settlement expected on February 15, 2023. The announcement reiterates that this does not constitute a buying or selling solicitation, highlighting potential risks associated with forward-looking statements.

Bombardier has announced a partial redemption of $500 million principal amount of its 7.50% Senior Notes due 2025, with a redemption date set for March 16, 2023. The redemption price will be 100% of the principal amount plus accrued interest. A notice of redemption was issued on February 14, 2023, to record holders. Payment will be processed through the Depository Trust Company. This partial redemption is separate from a cash tender offer for the same notes that concluded on February 13, 2023.

Bombardier announced its 2022 financial results, showing a 14% revenue increase to $6.9 billion, driven by aircraft deliveries and aftermarket services, which peaked at $1.5 billion. Adjusted EBITDA rose 45% to $930 million. Free cash flow from continuing operations improved significantly to $735 million. The company repaid $1.1 billion in debt, enhancing financial stability. For 2023, Bombardier forecasts revenues exceeding $7.6 billion and adjusted EBITDA greater than $1,125 million, with over 138 aircraft deliveries. A virtual Investor Day is scheduled for March 23, 2023, to discuss strategic objectives.