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TSX BBD 2001.Pdf Table of Contents 1 Financial Highlights 2 Message to Shareholders 6 Bombardier Aerospace 10 Bombardier Transportation 14 Bombardier Recreational Products 18 Bombardier Capital 20 Bombardier International 21 Human Resources 22 Six Sigma 24 Social Responsibility 25 Environment, Health & Safety 27 Financial Section 96 Main Business Locations 98 Board of Directors and Corporate Officers 99 Shareholder Information Fiscal 2000-2001 NET INCOME: $975.4 MILLION 36% All amounts mentioned in this report are in Canadian dollars, unless otherwise stated. Un exemplaire en français vous sera expédié sur demande adressée au Services des relations publiques Bombardier Inc. 800, boul. René-Lévesque Ouest Montréal (Québec) Canada H3B 1Y8 All rights reserved © 2001, Bombardier Inc. REVENUES: $16.1 BILLION BACKLOG: $31.7 BILLION 18% 17% FINANCIAL HIGHLIGHTS (millions of Canadian dollars, except per share amounts) For the years ended January 31 2001 2000 Revenues $ 16,100.6 $ 13,618.5 Income before income taxes $ 1,398.2 $ 1,072.9 Income taxes $ 422.8 $ 354.1 Net income $ 975.4 $ 718.8 Earnings per share – basic $ 0.70 $ 0.51 Dividend per common share Class A $ 0.135000 $ 0.110000 Class B $ 0.136563 $ 0.111563 As at January 31 2001 2000 Total assets $ 20,404.3 $ 17,034.1 Shareholders’ equity $ 3,812.4 $ 3,611.8 Additions to fixed assets $ 415.1 $ 419.5 Total backlog $ 31,707.9 $ 27,247.6 Book value per common share $ 2.57 $ 2.40 Number of common shares 1,366,050,736 1,377,618,016 BOMBARDIER INC. Moving people– in some of the most innovative ways imaginable — is what Bombardier is all about, be it in the air, on commercial or private aircraft; via rail, on metros, trams or high-speed trains; on the water, over snow-covered expanses or rough terrain, on fun vehicles. 600 BOMBARDIER’S STOCK PERFORMANCE January 31, 1996 to January 31, 2001 500 400 BBD 300 200 100* TSE 300 0 MARKET CAPITALIZATION: $6,659M (AS AT JAN. 31, 1996) $6,659M (AS AT MARKET CAPITALIZATION: MARKET CAPITALIZATION: $33,601M (AS AT JAN. 31, 2001) $33,601M (AS AT MARKET CAPITALIZATION: JAN.1996 JAN.1997 JAN.1998 JAN.1999 JAN.2000 JAN.2001 * Index: Closing price as at January 31, 1996 = 100 2000-2001 FINANCIAL HIGHLIGHTS 1 WE ARE WORKING HARD TO MEET OUR COMMITMENTS Message to Record revenues and profits and an order backlog that reached an all-time high of $31.7 billion were among the highlights that made fiscal 2000-2001 a year of significant accomplishment for Bombardier. Laurent Beaudoin, Robert E. Brown, Chairman of the Board and of the Executive Committee President and Chief Executive Officer DELIVERING ON OUR COMMITMENTS onsolidated revenues for the latest fiscal year approved a two-for-one stock split at the annual increased 18% to $16.1 billion, enabling us to meeting in June 2000, reflecting continued investor C again deliver on our commitment to double the confidence in the Corporation’s prospects. Corporation’s revenues over the last five years. Net income We believe their confidence is well placed. increased 36% to $975.4 million. Earnings per share Despite a noticeable slowing in certain economies and reached $0.70, up 37%, which falls within our targeted particularly in the U.S., Bombardier continues to target range of 30-40% earnings per share growth for the year. an increase in earnings per share of 30-40% for the fiscal This stellar performance was reflected in year ending January 31, 2002 and an additional 20-30% Bombardier’s stock price, rewarding shareholders with for the fiscal year ending January 31, 2003. As well, returns amounting to some 67.5% on the year (calcu- we plan to double our revenues over the next five years lated as of January 31, 2001), excluding dividends. through fiscal 2005-2006, excluding major external This compares with 10% for the TSE 300 index over the growth initiatives such as the pending Adtranz same period. It should also be noted that shareholders acquisition. 2 MESSAGE TO SHAREHOLDERS 2000-2001 AND CREATE VALUE FOR OUR CUSTOMERS AND SHAREHOLDERS shareholders ADTRANZ ACQUISITION SOLIDIFIES LEADERSHIP POSITION IN TRANSPORTATION In keeping with Bombardier’s long-standing The addition of some 21,000 Adtranz personnel mission to build a leadership position in each of its would transform Bombardier into even more of chosen market sectors, we announced on August 4, 2000 an international organization, with approximately that Bombardier had signed an agreement to purchase 44% of the Corporation’s total workforce located the Adtranz rail-systems unit of DaimlerChrysler AG for in Europe and 52% in North America. $725 million US ($1.1 billion Cdn) — the single largest PERFORMANCE AND acquisition in Bombardier’s history. This transaction DIVERSIFICATION IN is subject to regulatory approval. RECREATIONAL PRODUCTS If concluded, the acquisition of Adtranz We have also succeeded in returning our would make Bombardier Transportation — already the recreational products group to profitability. This world’s largest manufacturer of passenger rail cars — revitalized group is intensely focused on innovative a clear global leader in rail-transportation equipment new products, backed by significant investment. and services, able to provide complete solutions to Noteworthy accomplishments include an expanded line customers’ needs. The expansion of the transportation of all-terrain vehicles — a relatively new market for group also dovetails nicely with our strategic priority Bombardier, in which we are experiencing significant to further diversify and balance Bombardier’s various success — and a burgeoning engine business that, business activities. in addition to supplying our own needs, has emerged It was 25 years ago, in 1976, that Bombardier as a leading supplier to outside customers in the completed its first-ever transportation contract, motorcycle, kart and aviation sectors. which entailed the supply of subway cars for the Just subsequent to year-end, we announced Montréal metro. Over the intervening quarter-century, the purchase of the engine assets of Outboard Marine the Corporation has worked diligently to build on this Corporation (OMC), which include the well-known base. Significant milestones along the way included Evinrude and Johnson outboard marine engine brands the landing of a billion-dollar contract in 1982 to supply as well as proprietary direct fuel injection technology. cars for New York’s Metropolitan Transit Authority, These assets complement our Austrian-based Rotax a coup that established Bombardier as the North operations, giving us two different engine platforms American leader in passenger-rail vehicles. The and a base in the United States from which we can purchase of Belgium-based BN in 1986 marked the further expand our activities. first of a series of forays into global transportation The OMC transaction is yet another reflection markets that has since included other acquisitions of Bombardier’s determination to be a leader in each in France, the United Kingdom, Germany, the of its chosen market segments, including the broadly United States, Canada and Mexico. based recreational products field, and underscores The Adtranz purchase would enhance our commitment to the business sector where the Bombardier Transportation’s technological base in Corporation had its origins. areas such as propulsion systems, state-of-the-art train-control and communications systems and electric locomotives. It would also expand our geographic market reach, through a manufacturing presence encompassing 23 countries, compared with 12 now. 2000-2001 MESSAGE TO SHAREHOLDERS 3 BOMBARDIER AEROSPACE BOMBARDIER CAPITAL — SUCCESSFULLY MANAGES MAJOR TARGETED STRATEGY RAMP-UP OF PRODUCTION At Bombardier Capital we implemented Bombardier Aerospace enjoyed another a strategic realignment of this diversified finance, banner year in fiscal 2000-2001. The group landed a asset-management and service company, which has number of very substantial new aircraft orders that been refocused to concentrate on sectors where we served to enhance its leadership positions in both the have significant related experience, knowledge and regional aircraft and business jet segments; achieved competencies elsewhere within the Corporation. It a major ramp-up of aircraft production; and moved is now focussing on providing inventory finance as well ahead on a number of new aircraft programs. as broader “capital services”, i.e. to both finance and With the delivery of our first CRJ700 and manage assets in areas we know well, such as rail- completion of the first full year of commercial delivery transportation equipment and aerospace. for the Q400 advanced turboprop, Bombardier has In line with this orientation, Bombardier established itself as the lead player in the market for Capital early in the year started winding down portfolios 70-seat passenger aircraft. During the course of the unrelated to its core compentencies. For the year, fiscal year, we also filled out our family of regional jets Bombardier Capital recorded disappointing results with the addition of an 86-seat CRJ900 model, which mainly as a consequence of unforeseen events. was given the official go-ahead in July 2000. In addition to a special charge of $79.5 million, Bombardier Aerospace delivered a total of in the first quarter, related to a portfolio being wound 370 aircraft during fiscal 2000-2001, up sharply from down, Bombardier Capital decided, in the fourth 292 the previous year, and the number of deliveries is quarter, to increase by $49.5 million its balance sheet expected to jump again by approximately 15% for fiscal allowance for credit losses for the manufactured 2001-2002. This represents a production increase of housing portfolio because of the downturn of this some 63% within the space of two years — and accounts market and of the U.S. economy in the latter part for the need to expand capacity, including construction of the year. of a new assembly facility at Mirabel, Québec and In the years ahead, management intends to capacity adjustments at other plants.
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