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Company News

REFILE- Bombardier reports higher EBITDA, says to focus on production

(Corrects to add dollar sign in last paragraph)

Aug 2 (Reuters) - Canadian plane and train maker Bombardier Inc posted a 7 percent rise in its most-watched measure of earnings in the second quarter, helped by rising margins and sales.

The company reported $336 million in earnings before interest, taxation, depreciation and amortization (EBITDA) for the quarter ended June, compared with $313 million in the same period a year earlier.

“With our heavy investment cycle largely behind us, our focus is now on ramping-up production and improving operational efficiency to accelerate growth,” Chief Executive Officer Alain Bellemare said.

Revenue rose 3 percent to $4.26 billion and its EBITDA margin before special items rose to 7.9 percent from 7.6 percent.

Bombardier posted a quarterly net profit of $70 million compared with a net loss of $243 million last year, when the company was making heavy investments in various segments including planes. (Reporting By Nivedita Bhattacharjee and Allison Lampert; Editing by Gopakumar Warrier)

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