Q1 2025 CAE Inc Earnings Call Transcript
Key Points
- CAE Inc (CAE) booked nearly $1.2 billion in total orders this quarter, contributing to a record $17 billion in adjusted backlog.
- The company delivered eight full-flight simulators to customers during the quarter, indicating strong operational performance.
- Business aviation training saw year-over-year growth, supported by new training centers like the one in Savannah, Georgia.
- Defense segment booked orders worth $422 million, increasing the adjusted backlog to $10.4 billion from $8.4 billion in Q1 last year.
- Net finance expense decreased to $49.5 million from $53.1 million in the first quarter last year, reflecting better financial management.
- Commercial aviation training utilization was down 3 percentage points year-over-year, with notable declines in the Americas and Europe.
- Adjusted segment operating income for Civil was down 11% to $106.4 million compared to the first quarter last year.
- The company incurred restructuring, integration, and acquisition costs of $25.6 million during the quarter.
- Net cash from operating activities was negative $12.9 million, although an improvement from negative $49.3 million in the first quarter of fiscal 2024.
- Free cash flow remained negative at $25.3 million, despite being better than the negative $110.3 million in the first quarter last year.
Good day, ladies and gentlemen. Welcome to the CAE's first quarter financial results for fiscal year 2025 conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity for analysts to ask questions.(Operator Instructions)
Good morning, everyone, and thanks for joining us.
Before we begin, I'd like to remind you that today's remarks, including management's outlook and answers to questions, contain forward-looking statements. These forward-looking statements represent our expectations as of today, August 14, 2024, and accordingly, are subject to change. Such statements are based on assumptions that may not materialize and are subject to risks and uncertainties. Actual results may differ materially, and listeners are cautioned not to place undue reliance on these forward-looking statements.
A description of the risks, factors, and assumptions
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