Specialist
Former VP at Bombardier Transportation
Agenda
- Key trends in transportation equipment manufacturing
- Demand trends and competitive dynamics
- Costs and operational difficulties of new projects
- 2019 outlook
Questions
1.
Can you share your updated view of the industry? What key points do you think investors should be paying attention to when evaluating the space and its future?
2.
Which regions have the highest growth potential going forward and how would you assess Bombardier’s position in regard to that? To what extent is the company in the right places?
3.
Are there any major growth markets that Bombardier is not in and you think it could penetrate? Where is the company particularly strong, such that it could take advantage of its position?
4.
Bombardier’s issues with working capital over the last year have been well-publicised. Can you outline the stages of a project and explain where Bombardier is experiencing issues within this? How might it go about solving these?
5.
Bombardier is talking about trying to ramp up deliveries to one per day from two per week in the New York case. How realistic do you see that kind of ramp-up being?
6.
Bombardier faces integration issues in the German and the Swiss projects you mentioned. Can you explain what the process behind that integration is, why it is so troublesome and how the company might approach overcoming that?
7.
On the Crossrail project, they have, as of their investor day, 269 of 483 cars delivered, and have not yet been able to complete the integration test in the central London section. Can you explain what is going on, what kind of resolution you see to this and how Bombardier might attempt to drive that?
8.
Can you walk through the Lotrain Project, which Bombardier talked about on its investor day? What are the problems and when do you see resolution, from your knowledge?
9.
There is a lot going on across the company with all of these projects. How confident are you that management is taking the steps necessary to ensure quick and timely resolution?
10.
Bombardier has made strong attempts to increase efficiency across segments. What ability might it have to do so in transportation going forward? What areas might be realistic for the company to target for cost savings?
11.
How would you assess Bombardier’s modularisation efforts so far? How much more improvement do you think is realistic going forward?
12.
What are your thoughts on the Siemens-Alstom merger that you mentioned earlier? Do you think it is likely to happen and would it going through impact Bombardier?
13.
Bombardier recently lost a Canadian contract to Siemens. How impactful might that be for Bombardier going forward?
14.
Can you talk about Bombardier’s Chinese JV and the potential of that?
15.
What are your thoughts on how Bombardier views the transportation business going forward? Do you think management would consider spinning off or selling the company’s transportation segment to deleverage or might they consider repurchasing the minority stake quickly, if at all?
