CAE INC - CAE STOCK NEWS

CAE has inaugurated its first Air Traffic Services (ATS) Training Centre in Montreal, marking its entry into air traffic controller training. The facility, launched in partnership with NAV CANADA, began operations in October 2024 with the goal of training approximately 500 air traffic professionals by 2028.

The collaboration involves CAE delivering initial training for air traffic controllers and flight service specialists using NAV CANADA's curriculum, while NAV CANADA continues to handle basic training, specialty courses, and on-the-job training. This partnership represents CAE's first venture with the world's first fully private Air Navigation Service Provider (ANSP).

CAE plans to leverage its global network of over 70 facilities across five continents to expand ATS training based on demand. The company aims to support ANSPs in their airspace modernization efforts through competency-based training design and data-driven technologies.

CAE has announced raising $1,131,166 CAD in its 2024 CAE-Centraide (United Way) campaign, marking the sixth consecutive year surpassing the million-dollar milestone. The funds were collected through employee donations, fundraising activities, and corporate contributions. Since 2000, CAE and its employees have donated over $18.2 million to Centraide, supporting more than 5,000 local communities across Canada. The company's efforts, along with Unifor Local 522, have earned 11 United Way Solidaires awards. In the Greater Montreal area, 1 in 5 people benefit from Centraide's resources.

CAE has been recognized on Forbes' World's Top Companies for Women 2024 list, following an extensive evaluation process involving surveys of approximately 100,000 women across 37 countries. The assessment was based on three key scores: Employer Brand Score, Public Opinion Score, and Leadership Score, collecting over 750,000 data points.

The company demonstrates its commitment to gender equality through various initiatives, including the Professional Women's Network (PWN), Women in aviation and technology (LIFT), and the CAE Women in Flight scholarship program. CAE has also recently been recognized as a Top Diversity Employer by the Financial Times and included in TIME's World's Best Companies 2024.

CAE announced that CEO Marc Parent will leave the company at the August 2025 Annual General Meeting after 20 years of service, including 15 as President and CEO. Under his leadership, CAE's annual revenue nearly doubled to $4.3 billion from $2.2 billion, transforming from an industrial products company into the world leader in aviation training solutions. Parent will continue leading CAE and remain on the Board until his departure, ensuring an effective transition. The Board has initiated a comprehensive global search for his successor, considering both internal and external candidates.

CAE reported Q2 fiscal 2025 results with revenue of $1,136.6 million, up 8% from $1,050.0 million last year. EPS from continuing operations decreased to $0.16 from $0.17, while adjusted EPS was $0.24 vs. $0.26. Operating income increased 21% to $118.1 million. The company secured $3.0 billion in adjusted order intake, resulting in a record $18.0 billion adjusted backlog. Post-quarter, CAE purchased a majority stake in SIMCOM for US$230 million and extended its training agreement with Flexjet to 15 years. Civil Aviation revenue grew 12% to $640.7 million, while Defense revenue increased 4% to $495.9 million.

CAE announced it will release its fiscal year 2025 second quarter financial results on Tuesday, November 12, 2024, after market close. The company will hold a conference call on Wednesday, November 13, 2024, at 8:00 a.m. ET for analysts and institutional investors. The call will feature Marc Parent (President and CEO), Nick Leontidis (COO), Constantino Malatesta (Interim CFO), and Andrew Arnovitz (SVP of Investor Relations). The event will be webcast live at www.cae.com and archived for 90 days. The conference call will be accessible via phone through various international numbers and will include an instant replay feature available for 48 hours after the call.

CAE announced plans to increase its stake in SIMCOM Aviation Training by purchasing majority shares from Volo Sicuro for USD $230 million. Flexjet will retain a minority stake in SIMCOM, and both CAE and SIMCOM will extend their exclusive business aviation training agreements with Flexjet and affiliates by 5 years, resulting in a 15-year remaining exclusivity period. The investment, to be financed through CAE's existing credit facility and cash, is expected to be accretive to earnings and free cash flow in the first full-year post transaction. SIMCOM operates four training centers in the United States and provides pilot training across multiple business aviation aircraft platforms.

CAE has secured a 25-year sub-contract valued at approximately $1.7 billion from SkyAlyne to support the Royal Canadian Air Force's (RCAF) Future Air Crew Training (FAcT) program. The contract involves providing comprehensive aircrew training, including live flying, simulation, and ground school training. CAE will develop and deliver simulators and training devices for various aircraft fleets at Moose Jaw, Saskatchewan and Southport, Manitoba over the next 5 years.

The company is also expected to sign a follow-on order for sustainment-related in-service support services. This contract extends CAE's presence at 15 Wing Moose Jaw, where it currently operates the NATO Flying Training in Canada (NFTC) program. The FAcT program aims to modernize and recapitalize the RCAF's training system, ensuring the readiness of Canada's next generation of military personnel.

CAE (NYSE: CAE) (TSX: CAE) has announced the final director election results from its 2024 Annual Meeting of Shareholders. Thirteen nominees were elected as Directors of CAE, with voting percentages ranging from 74.65% to 99.59% in favor. Notable elections include:

- Sophie Brochu with the highest approval at 99.59%
- Marc Parent, likely the CEO, with 94.46% approval
- Patrick M. Shanahan with the lowest approval at 74.65%

The results show strong shareholder support for most nominees, with only Shanahan receiving less than 90% approval. This outcome suggests overall satisfaction with the proposed board composition, while indicating some reservations about Shanahan's appointment.