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CAE Inc. (NYSE: CAE; TSX: CAE) stands as a global leader in training and simulation solutions for the civil aviation, defense and security, and healthcare markets. With over seven decades of innovation, CAE designs and integrates comprehensive training solutions, leveraging the expertise of its 8,000 employees and world-leading simulation technologies. Headquartered in Montreal, Canada, CAE operates 160 sites and training locations in 35 countries, making it the broadest network in the industry.
Civil Aviation: CAE trains more than 120,000 civil and defense crewmembers annually, providing advanced flight simulators and comprehensive pilot training programs. The company also manages a substantial fleet of flight simulators, enhancing accessibility and training efficiency for airlines worldwide.
Defense & Security: CAE offers mission support and training solutions for defense forces, utilizing high-fidelity simulation technologies to prepare military personnel for real-life scenarios. The company's defense projects are focused on improving combat readiness and operational efficiency of military forces globally.
Healthcare: Recent divestitures have seen CAE streamline its focus, yet it remains committed to providing simulation-based healthcare training solutions to nurture the proficiency of medical professionals.
CAE has a strong commitment to sustainability, becoming the first Canadian aerospace company to be carbon-neutral in 2020. The company continues to push the envelope with technological advancements, such as integrating Epic Games' Unreal Engine into its simulators for ultra-realistic training experiences.
Financially, CAE showcases a robust performance with a diversified revenue stream. Despite recent restructuring to optimize cost and streamline operations, CAE maintains strong market leadership in its core domains. Strategic partnerships, innovative technology integrations, and a focus on environmental, social, and governance (ESG) practices underpin CAE’s sustained growth and operational excellence.
Follow CAE on Twitter @CAE_Inc or visit their career page at www.cae.com for more information.
CAE, a leading provider of simulation and modeling technologies, will release its fourth-quarter and full-year FY2024 financial results on May 27, 2024, after market close. A conference call is scheduled for May 28, 2024, at 8 a.m. ET, where CAE's senior executives, including CEO Marc Parent and CFO Sonya Branco, will discuss the company's performance and outlook. The call is intended for analysts, institutional investors, and media, with a live webcast available on CAE's website. Phone numbers for the conference call are provided for participants from various regions. An instant replay of the conference will be available for 48 hours post-event.
CAE announced a re-baselining of its Defense business, along with significant impairments and unfavorable contract adjustments. They reported a $568 million goodwill impairment, $90.3 million in contract adjustments, and $35.7 million impairment of related intangible assets. Nick Leontidis has been appointed as COO to oversee both Civil and Defense segments.
Preliminary fiscal 2024 results show strong performance in Civil Aviation with record order intake and operating income margins, while Defense suffered losses due to legacy contracts. Consolidated free cash flow exceeded $400 million. The board approved a share repurchase program for up to 5% of common shares.
CAE's outlook for fiscal 2025 expects continued growth in Civil Aviation and improved Defense results, bolstered by structural and organizational changes.
On May 16, 2024, CAE announced the appointment of Patrick Decostre to its Board of Directors. Decostre, President and CEO of Boralex, brings extensive experience in renewable energy, having spent 18 years developing Boralex's European operations. He holds degrees in engineering physics and business administration. This appointment follows the retirement of Michael E. Roach, who served on CAE's Board since 2017. Alan N. MacGibbon, Chair of CAE's Board, expressed gratitude towards Roach for his valuable contributions and welcomed Decostre's leadership and expertise.
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