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Bombardier 2008-09 Annual Report

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Bombardier 2008-09 Annual Report OUR WAY AnnualReport,2009 EndedJanuary Year 31, FORWARD ANNUAL REPORT, YEAR ENDED JANUARY 31, 2009 www.bombardier.com FINANCIAL HIGHLIGHTS (in millions of U.S. dollars, except per share and backlog amounts) For the fiscal years ended January 31 2009 2008 Revenues $ 19,721 $ 17,506 EBIT before special item $ 1,411 $ 902 EBT before special item $ 1,273 $ 601 Income taxes $ 265 $ 122 Net income $ 1,008 $ 317 Earnings per share before special item (in dollars): Basic $ 0.57 $ 0.26 Diluted $ 0.56 $ 0.26 Earnings per share (in dollars): Basic $ 0.57 $ 0.17 Diluted $ 0.56 $ 0.16 Dividend per common share (in Cdn dollars) Class A $ 0.08 $ – Class B $ 0.08 $ – As at January 31 2009 2008 Total assets $ 21,306 $ 22,120 Shareholders’ equity $ 2,544 $ 3,118 We take pride in our employees’ engagement. We sincerely thank all Net additions to property, plant and equipment and intangible assets $ 567 $ 417 of our employees who agreed to participate in this annual report. Total backlog (in billions of dollars) $ 48.2 $ 53.6 Book value per common share (in dollars) $ 1.27 $ 1.60 Number of common shares Class A 316,582,537 316,961,957 Class B 1,413,866,601 1,413,700,636 STOCK MARKET PRicE RANGES BOMBARDIER’S STOCK PERFORMANCE (in Cdn dollars) January 31, 2006 to January 31, 2009 For the years 300 ended January 31 2009 2008 Class A 200 BiLevel, Bombardier, Bombardier 415, Challenger, Challenger 300, Challenger 604, Challenger 605, Challenger 800, CL-215, CONTESSA, CRJ, CRJ200, CRJ700, CRJ705, CRJ900, CRJ1000, High $ 9.00 $ 7.00 CS100, CS300, CSeries, CITYFLO, CX-100, EBI, ECO4, ELECTROSTAR, EnerGplan, FLEXITY, Flexjet, FLEXX, Global, Global 5000, Global Express, Global Vision, INNOVIA, INTERFLO, Learjet, *100 Learjet 40, Learjet 45, Learjet 60, Learjet 85, MITRAC, MOVIA, NextGen, ORBITA, PartsExpress, PRIMOVE, Q200, Q300, Q400, Q-Series, REGINA, Skyjet, Skyjet International, Smart Services, Low $ 3.25 $ 4.10 SPACIUM, TALENT, The climate is right for trains, TRAXX, TURBOSTAR, XR, XRS and ZEFIRO are trademarks of Bombardier Inc. or its subsidiaries. Close $ 3.85 $ 4.96 0 Class B 2006 2007 2008 2009 This annual report is printed on paper certified EcoLogo Un exemplaire en français vous sera expédié sur demande Design: TAXI January January January January High $ 8.97 $ 6.97 that contains 30% of post‑consumption recycled fibres. adressée à : Printing: Transcontinental Litho Acme MARKET CAPITALIZATION BBD SPTSX S&P 500 Bombardier Inc. Printed in Canada Low $ 3.17 $ 4.06 Affaires publiques ISBN: 978‑2‑921393‑94‑2 $6,592 million Cdn 800, boul. René‑Lévesque Ouest Legal deposit, Bibliothèque Close $ 3.80 $ 4.95 (as at January 31, 2009) *Index: Closing price as at January 31, 2006 = 100 Montréal (Québec) et Archives nationales du Québec Canada H3B 1Y8 All rights reserved. 1 Our Way Forward 202 Main business locations ou consultez notre site Internet © 2009 Bombardier Inc. or its subsidiaries. au www.bombardier.com 12 Message to shareholders and employees 203 Board of Directors, Committees of the Board and Corporate Management 20 Our Board of Directors 204 Investor information 22 The J. Armand Bombardier Foundation 24 Financial section All amounts mentioned in this annual report are in U.S. dollars unless otherwise indicated. At Bombardier, the focus is “Our Way Forward.” It embodies our vision for the future and signals the continued evolution of our company. It reflects our challenging times and the need for prudent execution and clear priorities. Through careful management, we’ve delivered solid financial performance, rallied effective leadership teams and carved out an enviable market position. It is time to build on this strong foundation by acting on key priorities that will take us even further. Over the coming years, we will capitalize on our legendary entrepreneurial spirit to pursue carefully selected opportunities. Our goal? To be a leader for all of our stakeholders. “Our Way Forward” starts here with five strategic priorities. EXECUTION EXCELLENCE GREATER CORPORATE SOCIAL RESPONSIBILITY UNBEATABLE TALENT OuR WAY FORWARD CALCULATED RISKS DEEP LOCAL ROOTS BOMBARDIER INC. 2008-09 Annual Report 1 1 RA 2008-09 ENGLISH EDITORIAL Execution excellence Customer satisfaction is our top priority. It requires that we become masters at executing flawlessly to consistently deliver on our promises.I t’s a question of discipline and the answer is to engage every employee in focusing everything we do on our customers’ needs. We will settle for nothing less than getting it right the first time, every time.I t is our way forward to greater growth and profitability. DISTINCT VALUE PROPOSITIONS ANTICIPATE NEEDS QUALITY CUSTOMER- PORTFOLIO CENTRED CUSTOMER OF PRODUCTS SATISFACTION EXECUTION ENGAGE EMPLOYEES EFFECTIVE PROCESSES 2 BOMBARDIER INC. 2008-09 Annual Report CLIENT Bombardier APPROBATION CRÉÉ LE 25 Février 2009 BOM95000MA 8 PROD. SERVICE- ÉQUIPE STUDIO CONTACT Jacques L. (x230) CLIENT Marie-France D. (x263) Fred S. (x223) CRÉATION Meredith McKinlay COUPE COUPE SÛRETÉ BLEED FERMÉ 8,5 in x 11,0 in 6,5 in x 9,0 in 8,75 in x 11,25 in OUVERT 17 x 11 in 2 PLIS Ne s’applique pas RA 2008-09 COULEURS CYANI MAGENTAI YELLOWI BLACKI PMS XXXI PMS XXXI PMS XXXI PMS XXXI ENGLISH INFO Rapport Annuel 2008-2009 - English – Editorial 1 Ce fichier est en quadrichromie, sauf indication contraire. Malgré notre vigilance, il pourrait contenir des erreurs, aussi nous vous demandons de le vérifier. La responsabilité de EDITORIAL TAXI se limite à la correction et au remplacement de ce fichier. TAXI ne peut être tenue responsable d’aucune surcharge de temps ou de matériel due à une erreur de votre part. The TRAXX family of locomotives is the technology of choice for operators throughout Europe. Thanks to careful planning and execution, this highly DELIVER ON successful platform offers 70% to 90% commonality across diesel, electric PROMISES and multi-system product models. The result is reduced manufacturing costs, faster market delivery and unparalleled operational efficiency. SURPASS EXPECTATIONS “ We were the launch customer for the CRJ700 aircraft, and we’ve been very happy with its outstanding performance, passenger acceptance, reliability and economics. Now we’re proud to be the launch customer for the CRJ1000 NextGen aircraft, with its new interior, improved economics and reduced emissions.” Marc Lamidey, President and Director of Brit Air BOMBARDIER INC. 2008-09 Annual Report 3 CLIENT Bombardier APPROBATION CRÉÉ LE 25 Février 2009 BOM95000MA 8 PROD. SERVICE- ÉQUIPE STUDIO CONTACT Jacques L. (x230) CLIENT Marie-France D. (x263) Fred S. (x223) CRÉATION Meredith McKinlay COUPE COUPE SÛRETÉ BLEED FERMÉ 8,5 in x 11,0 in 6,5 in x 9,0 in 8,75 in x 11,25 in OUVERT 17 x 11 in PLIS Ne s’applique pas 3 RA 2008-09 COULEURS CYANI MAGENTAI YELLOWI BLACKI PMS XXXI PMS XXXI PMS XXXI PMS XXXI INFO Rapport Annuel 2008-2009 - English – Editorial 1 ENGLISH Ce fichier est en quadrichromie, sauf indication contraire. Malgré notre vigilance, il pourrait contenir des erreurs, aussi nous vous demandons de le vérifier. La responsabilité de TAXI se limite à la correction et au remplacement de ce fichier. TAXI ne peut être tenue responsable d’aucune surcharge de temps ou de matériel due à une erreur de votre part. EDITORIAL Unbeatable talent Every employee at Bombardier impacts our performance. Proud and engaged employees are unstoppable. When we invest in their success, we ensure our own. We attract the best and give them every reason to stay and to be more engaged. With the right people in the right place, we can grow where and how we need to. It’s about raising our talent management to world-class standards. It is our way forward to fostering exceptional employees. WORLD-CLASS EMPLOYER ATTRACTION FACILITATE MOBILITY WORLD-CLASS DEVELOPMENT TALENT RETENTION CAREER PLANNING REWARD EXCELLENCE PEOPLE FIRST 4 BOMBARDIER INC. 2008-09 Annual Report CLIENT Bombardier APPROBATION CRÉÉ LE 25 Février 2009 BOM95000MA 8 PROD. SERVICE- ÉQUIPE STUDIO CONTACT Jacques L. (x230) CLIENT Marie-France D. (x263) Fred S. (x223) CRÉATION Meredith McKinlay COUPE COUPE SÛRETÉ BLEED FERMÉ 8,5 in x 11,0 in 6,5 in x 9,0 in 8,75 in x 11,25 in OUVERT 17 x 11 in 4 PLIS Ne s’applique pas RA 2008-09 COULEURS CYANI MAGENTAI YELLOWI BLACKI PMS XXXI PMS XXXI PMS XXXI PMS XXXI ENGLISH INFO Rapport Annuel 2008-2009 - English – Editorial 1 Ce fichier est en quadrichromie, sauf indication contraire. Malgré notre vigilance, il pourrait contenir des erreurs, aussi nous vous demandons de le vérifier. La responsabilité de EDITORIAL TAXI se limite à la correction et au remplacement de ce fichier. TAXI ne peut être tenue responsable d’aucune surcharge de temps ou de matériel due à une erreur de votre part. Bombardier Aerospace employs more than 30,000 people worldwide. Everywhere we operate, we strive to provide a safe and rewarding workplace where talented people continuously improve their performance while building long and satisfying careers. We respect our employees, welcome their ideas, support their development and celebrate their successes. Our annual employee surveys help us constantly focus our action plans on better engaging our people. GROWTH OPPORTUNITIES At Bombardier Transportation, the well-being of our 34,000 employees comes first. That’s why we proactively address health and safety issues, and invest in targeted efforts to recruit, develop and retain engaged talent. Creating a boundary-less organization where ideas, knowledge and talent flow easily is one of our top priorities. BOMBARDIER INC. 2008-09 Annual Report 5 CLIENT Bombardier APPROBATION CRÉÉ LE 25 Février 2009 BOM95000MA 8 PROD. SERVICE- ÉQUIPE STUDIO CONTACT Jacques L. (x230) CLIENT Marie-France D.
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