Canadian business jet manufacturer Bombardier has posted its financial results for 2024, but in an unusual move has deferred providing guidance and objectives for the coming year.
On February 6, 2025, Bombardier said that in an unpredictable climate arising from US President Donald Trump’s tariff threats on Canadian goods, it needed more time to assess “direct and indirect impacts”.
Bombardier said: “In light of the rapidly evolving landscape stemming from the February 1, 2025, executive orders signed by the President of the United States regarding new tariffs, Bombardier has elected to defer providing guidance and 2025 objectives.”
While the threat of tariffs is currently on hold for a month after President Trump postponed going through with the order, Bombardier is still wary of a looming 25% duty being introduced on Canadian imports into the US.
In more positive news for Bombardier, the company posted total revenues of $8.7 billion for 2024, an 8% increase on 2023, and a net income of $370 million.
2025 is just around the corner. #CatchTheMach #Global8000
2025 arrive à grands pas. #AttrapezLeMach pic.twitter.com/lms0nEoyYu
— Bombardier (@Bombardier) December 28, 2024
Services revenues were up 16% from 2023, with $2.04 billion in revenue secured. The company reported free cash flow generation of $232 million.
Bombardier delivered 146 aircraft for the year, measured against 138 in 2023. Its backlog value rose $200 million from 2023, reaching $14.4 billion by the close of 2024.
Éric Martel, President and CEO of Bombardier, said: “Our team passionately and proudly executed our plan in 2024 at a very high level, growing revenue to meet guidance, growing deliveries, growing our backlog, meaningfully expanding our margins, and reaching a net leverage ratio of 2.9x.”
Martel added: “Four years ago, we outlined a bold vision for how we wanted to structure Bombardier for success. Our company has accomplished more than we set out to, including reaching our 2-billion-dollar service revenue ambition a full year ahead of schedule by rapidly elevating our customer experience and offerings. Whether in our operations, in the field or on our balance sheet, we have time and again demonstrated that we are strong and resilient.”
