|
Report No. : |
321271 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BOMBARDIER INC. |
|
|
|
|
Registered Office : |
800 Bd Rene-Levesque Ouest, Montreal, Quebec H3B 1Y8 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
19.06.1902 |
|
|
|
|
Legal Form : |
Public Company |
|
|
|
|
Line of Business : |
Manufactures and Sells Transportation Equipment Worldwide. |
|
|
|
|
No. of Employees : |
65,050 (As of 02-12-2015) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Exist |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Canada |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CANADA - ECONOMIC OVERVIEW
As a high-tech industrial society in the trillion-dollar
class, Canada resembles the US in its market-oriented economic system, pattern
of production, and high living standards. Since World War II, the impressive
growth of the manufacturing, mining, and service sectors has transformed the
nation from a largely rural economy into one primarily industrial and urban.
The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free
Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase
in trade and economic integration with the US, its principal trading partner.
Canada enjoys a substantial trade surplus with the US, which absorbs about
three-fourths of Canadian merchandise exports each year. Canada is the US's
largest foreign supplier of energy, including oil, gas, uranium, and electric
power. Given its abundant natural resources, highly skilled labor force, and
modern capital plant, Canada enjoyed solid economic growth from 1993 through
2007. Buffeted by the global economic crisis, the economy dropped into a sharp
recession in the final months of 2008, and Ottawa posted its first fiscal
deficit in 2009 after 12 years of surplus. Canada's major banks, however,
emerged from the financial crisis of 2008-09 among the strongest in the world,
owing to the early intervention by the Bank of Canada and the financial
sector's tradition of conservative lending practices and strong capitalization.
Canada achieved marginal growth in 2010-14 and plans to balance the budget by
2015. In addition, the country's petroleum sector is rapidly expanding, because
Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada
now ranks third in the world in proved oil reserves behind Saudi Arabia and
Venezuela.
|
Source
: CIA |
Company name: BOMBARDIER INC.
Address: 800 Bd Rene-Levesque Ouest,
Montreal, Quebec H3B 1Y8 Canada
Telephone: +1
514-861-9481
Fax: +1 514-861-2420
Website: www.bombardier.com
Corporate ID#: 8369470
State: Federal
Judicial form: Public Company (TSX = BBD.B)
Date incorporated: 06-19-1902
Stock: 1,932,013,593
shares issued and outstanding (as of
05-18-2015)
Market value: CAD
5,177,796,429=
Name of manager: PIERRE
BEAUDOUIN
Business:
Bombardier Inc., together with its subsidiaries, manufactures and sells
transportation equipment worldwide.
The company operates in four segments: Bombardier Business Aircraft,
Bombardier Commercial Aircraft, Bombardier Aerostructures and Engineering
Services, and Bombardier Transportation.
The Bombardier Business Aircraft segment designs, manufactures, and
provides aftermarket support for Learjet, Challenger, and Global business jets.
The Bombardier Commercial Aircraft segment designs and manufactures a
portfolio of commercial aircraft in the 60- to 149-seat categories, including
turboprops, regional jets, and mainline jets, as well as provides aftermarket
support services.
The Bombardier Aerostructures and Engineering Services segment designs
and manufactures aircraft structural components, such as engine nacelles,
fuselages, and wings; and provides aftermarket component repair, overhaul, and
other engineering services.
The Bombardier Transportation segment designs, manufactures, and
supports rail equipment and systems, such as passenger railcars, locomotives,
light rail vehicles, and automated people movers. This segment also offers
bogies, electric propulsion, control equipment, and maintenance services, as
well as complete rail transportation systems and rail control solutions.
Staff: 65,050 (as of 02-12-2015)
On May 14, 2015, Bombardier announced that it is cutting 1,750 jobs,
including 1,000 positions at the company's facility in Montreal. The move will
see up to 480 positions affected in Toronto and up to 280 in Belfast. Lower
energy prices and political turmoil in such markets as Russia, China and Brazil
have sliced into the demand for Bombardier's large business planes, forcing it
to reduce production of its Global 5,000/6,000 planes.
Operations & branches:
At the headquarters, we
find the corporate office.
The Company maintains
several branches in Canada.
Shareholders:
The Company is listed with the Toronto Stock Exchange under symbol
BBD.B.
Private shareholders include:
- Janine BOMBARDIER
- J.R. Andre BOMBARDIER
- Claire BEAUDOUIN BOMBARDIER
Management:
Pierre Beaudoin is the President.
He served as the Chief Executive Officer and President of Bombardier
Inc. from June 4, 2008 to February 13, 2015.
He served as the President and Chief Operating Officer at Bombardier
Aerospace, Inc., an operating unit at Bombardier Inc. from October 16, 2001 to
May 12, 2008. He was responsible for all operations and product divisions of
Bombardier Aerospace, Inc. He served as an Executive Vice President of
Bombardier Inc., from December 13, 2004 to May 2008 and also served as its
Member of Office of the President. He served as Office of the President of
Bombardier Recreational Products Inc. since December 2004.
He served as the President of Bombardier Business Aircraft from February
2001 to October 2001.
Mr. Beaudoin served as the President and Chief Operating Officer of
Bombardier Recreational Products from April 1996 to January 2001. He was
responsible for the overall operations of Bombardier's six product lines: the
marine products, including Sea-Doo watercraft and sport boats, Ski-Doo
snowmobiles, Bombardier ATV, Bombardier NV and utility vehicles. In addition,
his responsibilities included Bombardier-Rotax. He served as the Head of
Bombardier Aerospace, Inc., and served as its President from October 16, 2001
to May 2008.
Mr. Beaudoin joined the Marine Products division of Bombardier in 1985
rising through management positions of increasing responsibilities. Since
October 1990, he served as a Vice President of Product Development of the
Sea-Doo/Ski-Doo division of Bombardier. From June 1992 to January 1994, he
served as an Executive Vice President of the Sea-Doo/ Ski-Doo division of
Bombardier of Bombardier and as its President from January 1994 to April 1996.
He worked as the Canadian Customer Service Manager for BIC Sport Inc. He has
been an Executive Chairman of Bombardier Inc. since February 13, 2015 and as
its Director since December 13, 2004. He has been a Director of Power
Corporation of Canada since May 10, 2005. He served as a Director of Bombardier
Recreational Products Inc. since January 15, 2004.
He serves as a Director of Bombardier Aerospace, Inc.
Mr. Beaudoin studied Business Administration at Brébeuf College and
Industrial Relations at McGill University in Montréal.
J.R. Andre BOMBARDIER, Jean-Louis FONTAINE, Vice Presidents.
L. Denis DESAUTELS, Laurent BEAUDOUIN, Daniel JOHNSON, Jean C. MONTY,
Carlos E. REPRESAS, Heinrich WEISS, Martha FINN BROOKS, Joanne
BISSONETTE,
Sheila FRASER, Patrick PICHETTE, Vikram PANDIT, Alain BELLEMARE,
Directors.
Pierre ALARY is the CFO.
Subsidiaries
And partnership: Numerous
subsidiaries in Canada and worldwide.
On attachment:
- 10K 2014
- 1st 10Q 2015
|
Currency in |
As of: |
Dec 31 |
Dec 31 |
Dec 31 |
Dec 31 |
|
TOTAL REVENUES |
20,014.9 |
16,414.0 |
18,151.0 |
20,111.0 |
|
|
NET INCOME |
913.1 |
460.0 |
564.0 |
-1,260.0 |
|
|
Currency in |
As of: |
Dec 31 |
Dec 31 |
Dec 31 |
Dec 31 |
|
Assets |
|
|
|
|
|
|
Cash and Equivalents |
3,372.0 |
2,557.0 |
3,397.0 |
2,489.0 |
|
|
Short-Term Investments |
526.0 |
443.0 |
637.0 |
530.0 |
|
|
TOTAL CASH AND SHORT TERM INVESTMENTS |
3,898.0 |
3,000.0 |
4,034.0 |
3,019.0 |
|
|
Accounts Receivable |
1,299.0 |
1,222.0 |
1,386.0 |
1,414.0 |
|
|
TOTAL RECEIVABLES |
1,408.0 |
1,311.0 |
1,492.0 |
1,538.0 |
|
|
Inventory |
7,398.0 |
7,540.0 |
8,234.0 |
7,970.0 |
|
|
TOTAL CURRENT ASSETS |
13,263.0 |
12,531.0 |
14,386.0 |
13,119.0 |
|
|
Gross Property Plant and Equipment |
4,010.0 |
4,190.0 |
4,388.0 |
4,444.0 |
|
|
Accumulated Depreciation |
-2,146.0 |
-2,257.0 |
-2,322.0 |
-2,352.0 |
|
|
NET PROPERTY PLANT AND EQUIPMENT |
1,864.0 |
1,933.0 |
2,066.0 |
2,092.0 |
|
|
Goodwill |
2,253.0 |
2,316.0 |
2,381.0 |
2,127.0 |
|
|
Long-Term Investments |
1,305.0 |
1,650.0 |
1,567.0 |
1,301.0 |
|
|
Deferred Tax Assets, Long Term |
1,506.0 |
1,421.0 |
1,231.0 |
875.0 |
|
|
Other Intangibles |
3,168.0 |
4,770.0 |
6,606.0 |
6,823.0 |
|
|
Other Long-Term Assets |
505.0 |
554.0 |
807.0 |
956.0 |
|
|
TOTAL ASSETS |
23,864.0 |
25,175.0 |
29,363.0 |
27,614.0 |
|
|
|
|
|
|
||
|
LIABILITIES
& EQUITY |
|
|
|
|
|
|
Accounts Payable |
2,144.0 |
2,398.0 |
2,959.0 |
3,037.0 |
|
|
Accrued Expenses |
641.0 |
585.0 |
739.0 |
690.0 |
|
|
Current Income Taxes Payable |
216.0 |
252.0 |
368.0 |
367.0 |
|
|
Other Current Liabilities, Total |
4,045.0 |
3,697.0 |
3,925.0 |
4,248.0 |
|
|
Unearned Revenue, Current |
4,673.0 |
4,816.0 |
5,580.0 |
5,037.0 |
|
|
TOTAL CURRENT LIABILITIES |
11,955.0 |
11,793.0 |
13,786.0 |
13,435.0 |
|
|
Long-Term Debt |
4,748.0 |
5,360.0 |
6,988.0 |
7,627.0 |
|
|
Unearned Revenue, Non-Current |
1,266.0 |
1,600.0 |
1,688.0 |
1,608.0 |
|
|
Pension & Other Post-Retirement Benefits |
3,226.0 |
2,999.0 |
2,161.0 |
2,629.0 |
|
|
Other Non-Current Liabilities |
1,998.0 |
2,166.0 |
2,291.0 |
2,260.0 |
|
|
TOTAL LIABILITIES |
23,193.0 |
23,918.0 |
26,914.0 |
27,559.0 |
|
|
Common Stock |
1,323.0 |
1,342.0 |
1,380.0 |
1,381.0 |
|
|
Retained Earnings |
-960.0 |
-555.0 |
628.0 |
-1,510.0 |
|
|
TOTAL COMMON EQUITY |
292.0 |
864.0 |
2,079.0 |
-305.0 |
|
|
TOTAL EQUITY |
671.0 |
1,257.0 |
2,449.0 |
55.0 |
|
|
TOTAL LIABILITIES AND EQUITY |
23,864.0 |
25,175.0 |
29,363.0 |
27,614.0 |
|
Banks: Royal Bank of Canada
…
Legal filings & complaints:
As of today date, there are several legal filing pending with the
Courts.
Secured debts summary: Numerous
National Credit Bureaus
gave a medium credit risk.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of 15 days beyond terms.
Other comments:
The Company is facing
serious difficulties and is cutting several thousands of jobs.
The Company is in good standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
02-24-2015.
The risk is HIGH.
Our opinion:
We suggest you to be
careful.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.