Reporting from Canada, Bombardier has announced that it is in the top 30 companies – the 2023 TSX30, ranked by the Toronto Stock Exchange (TSX). The highly sought-after list recognizes the top 30 performing stocks over three years.
Historical Moment
This is the first time that the Canadian aerospace manufacturer appeared on the list, which reasserts that Bombardier is financially strong.
Spanning over three years which concluded on the 30th of June 2023, the company’s three-year dividend adjusted share price expanded by 522%, while its market cap grew by 533%.
Bombardier’s Executive Vice President and Chief Financial Officer Bart Demosky, stated: “Our financial performance over the past three years led to our achievement today, and we share our pride with all Bombardier employees whose innovative and tenacious spirit and hard work drive our business forward.”
He added: “We are delighted to be included in the influential TSX30 list as it is a confirmation of the value we create for our shareholders and for the Canadian economy.”
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Bombardier’s Success
Hard work put in over the past three years has paid off for Bombardier. It saw a broad focus on production design, manufacturing, and servicing business jets globally. These points have been core in Bombardier’s DNA.
Moreover, the company outlines foundations that will allow Bombardier to thrive within the ever-growing competitive industry.
The company is committed to becoming the leader in innovation and Bombardier continues to invest in excellence and perseverance. It plans to have a wide range of leading business jets portfolio that fit the needs of its customers, ranging from short to medium haul to ultra-long haul.
What sets Bombardier apart from other manufacturers is that it focuses heavily on the aftermarket offering.
It is also leading its way in green aviation, where it spearheads the industry in the innovation of producing its aircraft with the smallest carbon footprint.
Initiatives such as the EcoJet research program introduced in 2022 revealed that Bombardier is leapfrogging other manufacturers when it comes to building aircraft in the most sustainable way possible.
Bombardier also commits to covering all of its flight operations with sustainable aviation fuel (SAF) using the Book and Claim system from this year and beyond.
CEO, Toronto Stock Exchange Loui Anastasopoulos said, “We congratulate Bombardier on its ranking on the 2023 TSX30. Bombardier has shown remarkable resilience in recent years, and this ranking is a testament to its ability to evolve and pivot amid challenging circumstances.”
The CEO forwarded: “We are proud to celebrate the tremendous success of all the TSX30 companies.”
The TSX30
This yearly program was founded back in 2019. It recognizes and champions top-performing TSX-listed stocks that have shown excellence in driving their companies in their respective sectors and their contribution to the Canadian economy.
With Bombardier being present on this list, this shows Bombardiers’ commitment to the Canadian economy as a whole, and that it leads other manufacturers in terms of innovation and the commitment to become more sustainable.
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