Bombardier Charts the Course for Growth
MONTREAL, QUEBEC--JUNE 4, 2002 - 10:11 EDT
Number one worldwide in four of its five largest
markets, with increased revenues in all its sectors of activity
and a record backlog of more than $44 billion, Bombardier is more
diversified and better positioned than it was at the same time
last year to pursue growth and reach new heights, even in this
more difficult and more complex environment.
This is the substance of what was demonstrated at today's annual
shareholders' meeting by Laurent Beaudoin, Chairman of the Board
and of the Executive Committee and Robert E. Brown, President and
Chief Executive Officer of Bombardier Inc.
While acknowledging the impact of last September's tragic events
on Bombardier's stock price, Mr. Beaudoin reminded the audience
that the stock has constantly outperformed stock market indices
over the years, including fiscal year 2001-02. "We have the
staying power and we have full confidence in our ability to
succeed. It is in times like these that the innovative and
entrepreneurial culture that defines Bombardier's success blooms
and thrives," said Mr. Beaudoin. "This spirit and this long-term
vision continue to drive our majority shareholders and
Bombardier's management team," concluded the Chairman.
"Provided the world's economy continues to improve, as forecasted,
in the second half of the year," added Mr. Brown, "the current
year looks quite promising. We are very confident that we will
achieve our 10% earnings per share growth target by the end of the
fiscal year."
Referring to the events that, in less than one year, have shaken
the business world in every industrialized country, the President
and CEO drew attention to the corporate values and the operational
excellence that have allowed Bombardier to evolve in such a
changing, turbulent environment, "without losing sight of the
essentials of development and growth that ensure the future of our
company."
"Maximizing shareholder returns is more than a goal for
Bombardier. It is how we do business and it is part of our values
and our corporate culture," said Mr. Brown.
For Mr. Brown, "our company's huge potential and its ability to
stay on course in terms of growth have remained entirely
unaffected, despite current economic conditions," even during
times and situations when it is difficult to achieve corporate
objectives, as has recently been the case.
Bombardier Inc., a diversified manufacturing and services company,
is a world leading manufacturer of business jets, regional
aircraft, rail transportation equipment and motorized recreational
products. It also provides financial services and asset management
in business areas aligned with its core expertise. Headquartered
in Montreal, Canada, the Corporation has a workforce of some
80,000 people in 24 countries throughout the Americas, Europe and
Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2002
stood at $21.6 billion Cdn. Bombardier shares are traded on the
Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and
BBDd.F). |
