Bombardier has reported its fourth-quarter and full-year 2018 results, highlighting solid margin growth, improved cash flows and continued progress executing its turnround plan.

The successful entry-into-service of the Global 7500 business jet in the fourth quarter also marked the completion of a heavy investment cycle.

Alain Bellemare, president and CEO of Bombardier Inc (www.bombardier.com), said: “2018 was a year of solid progress.

We continued to strengthen our business and set a strong foundation for growth — a foundation that includes a refreshed portfolio of best-in-class products, industry-leading backlogs and a more streamlined cost structure, all of which gives us a clear path to achieve our 2020 objectives.

“As we begin the fourth year of our turnround journey, Bombardier is a much stronger company. Our major program risks are retired, our heavy investment cycle is behind us, and our franchises are well positioned for growth.

For 2019, we are focused on flawless execution of our rail projects, the ramp-up of the Global 7500 and the entry-into-service of the Global 5500 and Global 6500.

"We will also continue to drive financial performance through disciplined capital allocation, as well as improved productivity and efficiency across the organisation.”

Bombardier’s 2018 consolidated revenues amounted to $16.2 billion, reflecting a 3% average year-over-year growth across Transportation, Business Aircraft and Aerostructures (excluding currency impact).

The company’s order book was worth $53.1 billion at the end of 2018, supporting its future growth targets.

EBIT (earnings before interest and taxes) before special items continued to improve in 2018, with a 42% year-on-year increase from $725 million to more than $1.0 billion (at the top end of the company’s expectations).

Bombardier also generated $1.0 billion of free cash-flow in the fourth quarter of 2018; its full-year free cash-flow generation equalled $182 million (at the top end of the company’s revised expectations).