Bombardier Transportation revenues rose to USD 2.5 billion, a USD 254m increase over the same period last fiscal year. EBIT reached USD 159m, up from USD120m a year ago, while EBIT margin increased to 6.3% versus 5.3%, Marketwire informs.
Free cash flow reached USD 32m, compared to a usage of USD 243m last fiscal year. The order backlog stood at USD 29.3 billion as at October 31, 2009, compared to USD 24.7 billion as at January 31, 2009, mainly due to a positive currency impact.
Economic uncertainty continues to affect the rail industry with low funding availability for the private sector and an ongoing decline in freight traffic. As a result, Bombardier Transportation's freight locomotives and services segments are seeing a lower level of activity. On a positive note, Bombardier Transportation reported new orders worth USD 3.6 billion, compared to USD 2.8 billion last fiscal year, leading to a book-to-bill ratio of 1.4. In September 2009, Bombardier Sifang Transportation won a USD 4 billion landmark contract to supply 80 ZEFIRO 380 very high speed trains capable of speeds of up to 380 km/h for the Chinese Ministry of Railways. Bombardier's share of the contract is worth USD 2 billion.
The group also signed a contract for 99 FLEXITY trams, valued at USD 431m, for Berlin's transport operator BVG (Berliner Verkehrsbetriebe).
Subsequent to the quarter, Bombardier Transportation received an order for 100 E464 locomotives from Trenitalia, Italian Railways, amounting to approximately USD 383m.