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CAE reports fourth quarter and full fiscal year 2024 results

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Financials unchanged from previously disclosed preliminary results

MONTREAL, May 27, 2024 /PRNewswire/ – (NYSE: CAE) (TSX: CAE) – CAE Inc. (CAE or the Company) today reported its financial report for the fiscal year ended March 31, 2024. Financial results are unchanged from preliminary data that CAE disclosed on May 21, 2024, including the re-baselining of the Defense & Security business along with Defense & Security impairments and unfavourable contract adjustments related to eight previously identified fixed-price legacy contracts (the Legacy Contracts). All financial information is in Canadian dollars.

“Last week we acted decisively and took the necessary steps to provide a clear path to margin improvement in our Defense business, supported by compelling long-term secular trends for this segment,” said Marc Parent, CAE’s President and Chief Executive Officer. “As a result of the changes we have made, we have a more balanced risk profile going forward, and with Nick Leontidis as our new Chief Operating Officer (COO), we are well-positioned to further strengthen our execution capabilities and drive additional synergies between our Civil and Defense segments.”

As previously disclosed, in Civil, the larger of CAE’s two businesses, record margins and orders position the Company well in the fiscal year ahead with expected low double-digit percentage Civil annual adjusted segment operating income growth and continued margin strengthening, with an annual adjusted segment operating income margin of approximately 23%. For Defense, CAE continues to expect fiscal 2025 revenue growth in the low- to mid-single-digit percentage range and annual Defense adjusted segment operating income margin in the 6- to 7-percent range.

As announced separately today, the TSX has approved the re-establishment of CAE’s normal course issuer bid (NCIB). The NCIB will commence on May 30, 2024 and end on May 29, 2025. The decision of the Board of Directors to re-establish the NCIB reflects CAE’s current outlook and the cash generative nature of its highly recurring revenue business. CAE’s Board of Directors will also continue to evaluate the possibility of reintroducing a shareholder dividend.

Consolidated results

Fourth quarter fiscal 2024 revenue was $1,126.3 million, compared with $1,197.4 million last year. Fourth quarter EPS from continuing operations was negative $1.58 compared to $0.29 last year. Adjusted EPS(1) was $0.12 ($0.37 excluding Legacy Contracts(1)) compared to $0.33 last year.

Operating loss this quarter was $533.0 million, compared to an operating income of $178.3 million (14.9% of revenue(1)) last year. Fourth quarter adjusted segment operating income(1) was $125.7 million (11.2% of revenue(1)) ($216.0 million excluding Legacy Contracts(1), 19.2% of revenue(1)) compared to $193.4 million (16.2% of revenue) last year.

Annual fiscal 2024 revenue was $4.3 billion, compared to $4.0 billion last year. Annual EPS from continuing operations was negative $1.02 compared to $0.69 in fiscal 2023. Annual adjusted EPS was $0.87 this year ($1.12 excluding Legacy Contracts) compared to $0.87 last year.

Annual operating loss was $185.4 million, compared to an operating income of $466.0 million (11.6% of revenue) last year. Adjusted segment operating income was $549.7 million (12.8% of revenue) ($640.0 million excluding Legacy Contracts, 14.9% of revenue) compared to $538.4 million (13.4% of revenue) last year.

Summary of consolidated results

(amounts in millions, except per share amounts and
net debt-to-EBITDA ratios)

FY2024  

FY2023  

Variance
%

Q4-2024   

Q4-2023   

Variance
%

Revenue

$

4,282.8

4,010.6

7 %

1,126.3

1,197.4

(6 %)

Operating (loss) income

$

(185.4)

466.0

(140 %)

(533.0)

178.3

(399 %)

Adjusted segment operating income(1)

$

549.7

538.4

2 %

125.7

193.4

(35 %)

As a % of revenue(1)

%

12.8

13.4

11.2

16.2

Adjusted segment operating income

excluding Legacy Contracts(1)

$

640.0

538.4

19 %

216.0

193.4

12 %

As a % of revenue(1)

%

14.9

13.4

19.2

16.2

Net (loss) income attributable to equity

holders of the Company

$

(325.3)

220.6

(247 %)

(504.7)

93.6

(639 %)

(Loss) earnings per share (EPS)

$

(1.02)

0.69

(248 %)

(1.58)

0.29

(645 %)

Adjusted EPS(1)

$

0.87

0.87

— %

0.12

0.33

(64 %)

Adjusted EPS excluding Legacy Contracts(1)

$

1.12

0.87

29 %

0.37

0.33

12 %

Free cash flow(1)

$

418.2

333.1

26 %

191.1

147.6

29 %

Cash conversion rate(1)

%

151

121

Adjusted order intake(1)

$

4,937.4

4,856.4

2 %

1,550.5

1,406.2

10 %

Adjusted backlog(1)

$

12,183.9

10,796.4

13 %

Net debt-to-adjusted EBITDA(1)

3.17

3.49

Net debt-to-adjusted EBITDA excluding

Legacy Contracts(1)

2.89

3.49

(1) This press release includes non-IFRS financial measures, non-IFRS ratios, capital management measures and supplementary financial measures. These measures are not standardized financial measures prescribed under IFRS and therefore should not be confused with, or used as an alternative for, performance measures calculated according to IFRS. Furthermore, these measures should not be compared with similarly titled measures provided or used by other issuers. Refer to the Non-IFRS and other financial measures section of this press release for the definitions and a reconciliation of these measures to the most directly comparable measure under IFRS.

Comparative figures have been reclassified to reflect discontinued operations.

Civil Aviation (Civil) results

During the quarter, Civil signed training and operational support solutions contracts valued at $832.1 million. These included the sale of 7 full-flight simulators (FFSs) and long-term training and digital flight services contracts. For the year, Civil booked orders for a record $3.0 billion, including 64 FFS sales (vs. 62 in the prior fiscal year) and comprehensive, long-term training agreements with customers worldwide.

The Civil book-to-sales ratio was 1.19x for the quarter and 1.24x for the last 12 months. The Civil adjusted backlog at the end of the year was a record $6.4 billion, which is up 12% from the prior year period.

Summary of Civil Aviation results

(amounts in millions)

FY2024   

FY2023   

Variance
%

Q4-2024   

Q4-2023   

Variance
%

Revenue

$

2,435.8

2,166.4

12 %

700.8

661.4

6 %

Operating income

$

442.0

430.3

3 %

147.0

149.3

(2 %)

Adjusted segment operating income

$

548.9

485.3

13 %

191.4

162.9

17 %

As a % of revenue

%

22.5

22.4

27.3

24.6

Adjusted order intake

$

3,025.5

2,827.1

7 %

832.1

841.5

(1 %)

Adjusted backlog

$

6,440.4

5,730.8

12 %

6,440.4

5,730.8

12 %

Supplementary non-financial information

Simulator equivalent unit

272

257

6 %

279

265

5 %

FFSs in CAE’s network

343

324

6 %

343

324

6 %

FFS deliveries

47

46

2 %

17

17

— %

Utilization rate

%

76

72

78

78

Defense and Security (Defense) results

During the quarter, Defense booked orders for $718.4 million, bringing the full-year total to $1.9 billion. The Defense book-to-sales ratio was 1.69x for the quarter and 1.04x for the last 12 months. The Defense adjusted backlog at the end of the year was $5.7 billion. In addition, the Defense pipeline strengthened with some $9.6 billion of bids and proposals pending customer decisions.

Summary of Defense and Security results

(amounts in millions)

FY2024  

FY2023  

Variance
%

Q4-2024  

Q4-2023  

Variance
%

Revenue

$

1,847.0

1,844.2

— %

425.5

536.0

(21 %)

Operating (loss) income

$

(627.4)

35.7

(1,857 %)

(680.0)

29.0

(2,445 %)

Adjusted segment operating income (loss)

$

0.8

53.1

(98 %)

(65.7)

30.5

(315 %)

As a % of revenue

%

2.9

5.7

Adjusted segment operating income

excluding Legacy Contracts*

$

91.1

53.1

72 %

24.6

30.5

(19 %)

As a % of revenue*

%

4.8

2.9

5.1

5.7

Adjusted order intake

$

1,911.9

2,029.3

(6 %)

718.4

564.7

27 %

Adjusted backlog

$

5,743.5

5,065.6

13 %

5,743.5

5,065.6

13 %

* The adjusted segment operating income excluding Legacy Contracts reflects the overall impact of the accelerated risk recognition on Legacy Contracts of $90.3 million, consisting of a reduction in revenue of $54.3 million and cost of sales of $36.0 million recorded in the fourth quarter of fiscal 2024. 

Additional information pertaining to Defense Legacy Contracts

As previously disclosed, within Defense there are a number of fixed-price contracts which offer certain potential advantages and efficiencies but can also be negatively impacted by adverse changes to general economic conditions, including unforeseen supply chain disruptions, inflationary pressures, availability of labour; all contributing to execution difficulties. These risks can result in cost overruns and reduced profit margins or losses. While these risks can often be managed or mitigated, there are eight distinct legacy contracts entered into prior to the COVID-19 pandemic that are firm fixed price in structure, with little to no provision for cost escalation, and that have been more significantly impacted by these risks (the Legacy Contracts disclosed in the third quarter of fiscal 2024). Although only a small number of contracts, they have disproportionately impacted overall Defense profitability. The Legacy Contracts include one that was inherited with CAE’s fiscal 2022 acquisition of L3Harris Technologies’ Military Training business and have completion dates mainly within the Company’s next two fiscal years https://www.cae.com/news-events/press-releases/cae-announces-re-baselining-of-its-defense-business-defense-impairments-accelerated-risk-recognition-on-legacy-contracts-and-appointment-of-nick-leontidis-as-coo.

The impairments and accelerated risk recognition on Legacy Contracts resulting in unfavourable contract adjustments are expected to allow CAE to develop a new baseline for future profitability. In addition to the senior leadership changes at the business unit and corporate levels, CAE has continued to implement measures to further enhance risk management and execution over the past few years, including an increasingly disciplined and rigorous approach to the selection of bids and proposals and an enhanced focus on higher quality program pursuits.

Additional financial details

CAE incurred restructuring, integration and acquisition costs of $55.0 million during the fourth quarter of fiscal 2024, in connection with the previously announced restructuring program related to portfolio shaping actions including the sale of Healthcare and to the continued integration of the fiscal 2022 acquisition of Sabre’s AirCentre airline operations portfolio (AirCentre).

The restructuring program is related to portfolio shaping actions and to streamline CAE’s operating model and portfolio, optimize its cost structure, and to create efficiencies. Total restructuring, integration and acquisition costs incurred since the start of the restructuring program this quarter amounted to $39.3 million, mainly related to severances and other employee related costs and the impairment of intangible assets related to the termination of certain product offerings within the Civil Aviation segment. CAE expects to record approximately $10 million of additional restructuring expenses over the next two quarters in light of the organizational and operational changes announced on May 21, 2024, to re-baseline the Defense business, further strengthen its execution capabilities, and drive additional synergies between CAE’s Defense and Civil Aviation businesses.

Net finance expense this quarter amounted to $52.4 million, compared to $52.4 million in the preceding quarter and $50.4 million in the fourth quarter last year.

Income tax recovery this quarter was $80.6 million, representing an effective tax rate of 14%, compared to an effective tax rate of 24% in the fourth quarter last year. The adjusted effective tax rate(1), which is the income tax rate used to determine adjusted net income and adjusted EPS, was 47% this quarter compared to 23% in the fourth quarter of last year. The increase in the adjusted effective tax rate was mainly attributable to the derecognition of tax assets previously recorded in Europe partially offset by the change in the mix of income from various jurisdictions.

Net income from discontinued operations was $20.5 million this quarter compared to $4.8 million in the fourth quarter of fiscal 2023. The increase compared to the fourth quarter of fiscal 2023 was mainly attributable to the after-tax gain on disposal of discontinued operations of $16.5 million in relation to the sale of the Healthcare business.

Summary of results from discontinued operations

FY2024

FY2023

Q4-2024

Q4-2023

Revenue

$    131.7

$    192.7

$      14.8

$      59.1

Expenses

132.7

184.7

20.0

50.8

Operating (loss) income

$      (1.0)

$        8.0

$      (5.2)

$        8.3

Finance expense

3.6

4.1

0.6

1.0

(Loss) earnings before income taxes

$      (4.6)

$        3.9

$      (5.8)

$        7.3

Income tax (recovery) expense

(9.4)

1.8

(9.8)

2.5

Net income from discontinued operations before after-tax

gain on disposal

$        4.8

$        2.1

$        4.0

$        4.8

After-tax gain on disposal of discontinued operations

16.5

16.5

Net income from discontinued operations

$      21.3

$        2.1

$      20.5

$        4.8

Net cash provided by operating activities was $215.2 million for the quarter compared to $180.6 million in the fourth quarter last year. Free cash flow(1) was $191.1 million for the quarter compared to $147.6 million in the fourth quarter last year. For the year, net cash provided by operating activities was $566.9 million compared to $408.4 million last year and free cash flow was $418.2 million, compared to $333.1 million in the same period last year. The cash conversion rate(1) for fiscal year 2024 was 151%.

Growth and maintenance capital expenditures(1) totaled $91.7 million this quarter and $329.8 million for the year, mainly in support of accretive growth opportunities to expand the Civil global aviation training network.

Net debt(1) at the end of the year was $2,914.2 million for a net debt-to-adjusted EBITDA(1) of 3.17 times (2.89 times excluding Legacy Contracts(1)). This compares to net debt of $3,085.4 million, for a net debt-to-adjusted EBITDA of 3.16 times at the end of the preceding quarter.

Adjusted return on capital employed (ROCE)(1) was 5.9% this quarter compared to 7.0% last quarter and 5.8% in the fourth quarter last year. Adjusted ROCE includes the impact of $90.3 million in unfavourable Defense contract adjustments.

(1) This press release includes non-IFRS financial measures, non-IFRS ratios, capital management measures and supplementary financial measures. These measures are not standardized financial measures prescribed under IFRS and therefore should not be confused with, or used as an alternative for, performance measures calculated according to IFRS. Furthermore, these measures should not be compared with similarly titled measures provided or used by other issuers. Refer to the Non-IFRS and other financial measures section of this press release for the definitions and a reconciliation of these measures to the most directly comparable measure under IFRS.

Sustainability

This quarter, CAE submitted near-term (10 years) science-based reduction targets for validation by SBTi, an achievement that positions CAE on the net zero trajectory. Upon approval, these ambitious targets will guide our decarbonization journey organized around four value streams: aviation, sourcing, products and services, and buildings, which will help us transition from carbon neutrality to net zero emissions. Such an objective requires the mobilization of all our value chain which is why we introduced our new Supply Chain Management Program, CAE Resilient Together, designed to mutually reinforce both operational excellence and sustainability with our partners. Our carbon built-on approach extends to our business strategic planning and decision-making as we know that sustainability is a paramount long-term value driver. We have also contributed to raise awareness on the crucial role of sustainable aviation fuel via CAE Crew Training, for all business aviation pilots training with us. In addition, we remain strongly committed to creating social value and fostering an inclusive and diverse culture. Our efforts to strengthen relations with Indigenous Peoples in Canada and around the world have been recognized through our first certification as a Progressive Aboriginal Relations Bronze company.

To learn more about CAE’s corporate sustainability roadmap and achievements, the report can be downloaded at https://www.cae.com/social-responsibility/.

Management outlook for fiscal year 2025

CAE confirms all of the 2025 guidance originally disclosed on May 21, 2024, including for Civil and Defense, for finance expense and tax expense, and for balanced capital allocation priorities and accretive growth investments.

CAE reiterates that a tenet of its capital management priorities includes the maintenance of a solid financial position, and it expects to continue to bolster its balance sheet through ongoing deleveraging, commensurate with its investment grade profile.

Management’s outlook for fiscal year 2025 and the targets outlined in CAE’s May 21, 2024 press release (https://www.cae.com/news-events/press-releases/cae-announces-re-baselining-of-its-defense-business-defense-impairments-accelerated-risk-recognition-on-legacy-contracts-and-appointment-of-nick-leontidis-as-coo) and expectations constitute forward-looking statements within the meaning of applicable securities laws, and are based on a number of assumptions, including in relation to prevailing market conditions, macroeconomic and geopolitical factors, supply chains and labor markets. As the basis of its fiscal 2025 outlook, management assumes no further disruptions to the global economy, air traffic, CAE’s operations, and its ability to deliver products and services. Expectations are also subject to a number of risks and uncertainties and based on assumptions about customer receptivity to CAE’s training solutions and operational support solutions as well as material assumptions contained in this press release, quarterly Management’s Discussion and Analysis (MD&A) and in CAE’s fiscal 2024 MD&A, all available on our website (www.cae.com), SEDAR+ (www.SEDARplus.ca) and EDGAR (www.sec.gov). Please see the sections below entitled: “Caution concerning forward-looking statements”, “Material assumptions” and “Material risks”.

Detailed information

Readers are strongly advised to view a more detailed discussion of our results by segment in the MD&A and CAE’s consolidated financial statements for the year ended March 31, 2024, which are available on our website (www.cae.com), SEDAR+ (www.SEDARplus.ca) and EDGAR (www.sec.gov). Holders of CAE’s securities may also request a printed copy of the Company’s consolidated financial statements and MD&A free of charge by contacting Investor Relations (investor.relations@cae.com).

Conference call Q4 and full FY2024

Marc Parent, CAE President and CEO; Sonya Branco, Executive Vice President and CFO, Finance; Nick Leontidis, COO; and Andrew Arnovitz, Senior Vice President, Investor Relations and Enterprise Risk Management, will conduct an earnings conference call tomorrow at 8:00 a.m. ET. The call is intended for analysts, institutional investors and the media. Participants can listen to the conference by dialing 1-844-763-8274 or +1-647-484-8814. The conference call will also be audio webcast live at www.cae.com.

About CAE

At CAE, we equip people in critical roles with the expertise and solutions to create a safer world. As a technology company, we digitalize the physical world, deploying software-based simulation training and critical operations support solutions. Above all else, we empower pilots, cabin crew, maintenance technicians, airlines, business aviation operators and defence and security forces to perform at their best every day and when the stakes are the highest. Around the globe, we’re everywhere customers need us to be with approximately 13,000 employees in more than 240 sites and training locations in over 40 countries. CAE represents more than 75 years of industry firsts–the highest-fidelity flight and mission simulators as well as training programs powered by digital technologies. We embed sustainability in everything we do. Today and tomorrow, we’ll make sure our customers are ready for the moments that matter.

Caution concerning limitations of summary earnings press release

This summary earnings press release contains limited information meant to assist the reader in assessing CAE’s performance, but it is not a suitable source of information for readers who are unfamiliar with CAE and is not in any way a substitute for the Company’s financial statements, notes to the financial statements, and MD&A reports. 

Caution concerning forward-looking statements

This press release includes forward-looking statements about our activities, events and developments that we expect to or anticipate may occur in the future including, for example, statements about our vision, strategies, market trends and outlook, future revenues, earnings, cash flow growth, profit trends, growth capital spending, expansions and new initiatives, including initiatives that pertain to environmental, social and governance (ESG) matters, financial obligations, available liquidities, expected sales, general economic and political outlook, inflation trends, prospects and trends of an industry, expected annual recurring cost savings from operational excellence programs, our management of the supply chain, estimated addressable markets, demands for CAE’s products and services, our access to capital resources, our financial position, the expected accretion in various financial metrics, the expected capital returns to shareholders, our business outlook, business opportunities, objectives, development, plans, growth strategies and other strategic priorities, and our competitive and leadership position in our markets, the expansion of our market shares, CAE’s ability and preparedness to respond to demand for new technologies, the sustainability of our operations, our ability to retire the Legacy Contracts as expected and to manage and mitigate the risks associated therewith, the impact of the retirement of the Legacy Contracts, expected results from the re-baselining of the Defense business, management outlook for fiscal year 2025, the establishment of a NCIB program, the introduction of a shareholder dividend and other statements that are not historical facts.

Since forward-looking statements and information relate to future events or future performance and reflect current expectations or beliefs regarding future events, they are typically identified by words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “likely”, “may”, “plan”, “seek”, “should”, “will”, “strategy”, “future” or the negative thereof or other variations thereon suggesting future outcomes or statements regarding an outlook. All such statements constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.

By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties associated with our business which may cause actual results in future periods to differ materially from results indicated in forward-looking statements. While these statements are based on management’s expectations and assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that we believe are reasonable and appropriate in the circumstances, readers are cautioned not to place undue reliance on these forward-looking statements as there is a risk that they may not be accurate. The forward-looking statements contained in this press release describe our expectations as of May 27, 2024 and, accordingly, are subject to change after such date. Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. The forward-looking information and statements contained in this press release are expressly qualified by this cautionary statement. In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. Except as otherwise indicated by CAE, forward-looking statements do not reflect the potential impact of any special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may occur after May 27, 2024.The financial impact of these transactions and special items can be complex and depends on the facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way or in the same way we present known risks affecting our business. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of our expected fiscal 2025 financial results and in obtaining a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

Material assumptions

The forward-looking statements set out in this press release are based on certain assumptions including, without limitation: the prevailing market conditions, geopolitical instability, the customer receptivity to our training and operational support solutions, the accuracy of our estimates of addressable markets and market opportunity, the realization of anticipated annual recurring cost savings and other intended benefits from restructuring initiatives and operational excellence programs, the ability to respond to anticipated inflationary pressures and our ability to pass along rising costs through increased prices, the actual impact to supply, production levels, and costs from global supply chain logistics challenges, the stability of foreign exchange rates, the ability to hedge exposures to fluctuations in interest rates and foreign exchange rates, the availability of borrowings to be drawn down under, and the utilization, of one or more of our senior credit agreements, our available liquidity from cash and cash equivalents, undrawn amounts on our revolving credit facility, the balance available under our receivable purchase facility, the assumption that our cash flows from operations and continued access to debt funding will be sufficient to meet financial requirements in the foreseeable future, access to expected capital resources within anticipated timeframes, no material financial, operational or competitive consequences from changes in regulations affecting our business, our ability to retain and attract new business, our ability to effectively execute and retire the Legacy Contracts while managing the risks associated therewith, and our ability to complete the integration of the AirCentre business and the separation of the CAE Healthcare business within the anticipated time periods and at the expected cost levels. Air travel is a major driver for CAE’s business and management relies on analysis from the International Air Transport Association (IATA) to inform its assumptions about the rate and profile of recovery in its key civil aviation market. Accordingly, the assumptions outlined in this press release and, consequently, the forward‑looking statements based on such assumptions, may turn out to be inaccurate. For additional information, including with respect to other assumptions underlying the forward-looking statements made in this press release, refer to the applicable reportable segment in CAE’s MD&A for the year ended March 31, 2024 available on our website (www.cae.com), SEDAR+ (www.SEDARplus.ca) and EDGAR (www.sec.gov).

Material risks

Important risks that could cause actual results or events to differ materially from those expressed in or implied by our forward-looking statements are set out in CAE’s MD&A for the fiscal year ended March 31, 2024, available on our website (www.cae.com), SEDAR+ (www.SEDARplus.ca) and EDGAR (www.sec.gov). Readers are cautioned that any of the disclosed risks could have a material adverse effect on our forward-looking statements. We caution that the disclosed list of risk factors is not exhaustive and other factors could also adversely affect our results.

Non-IFRS and other financial measures

This press release includes non-IFRS financial measures, non-IFRS ratios, capital management measures and supplementary financial measures. These measures are not standardized financial measures prescribed under IFRS and therefore should not be confused with, or used as an alternative for, performance measures calculated according to IFRS. Furthermore, these measures should not be compared with similarly titled measures provided or used by other issuers. Management believes that these measures provide additional insight into our operating performance and trends and facilitate comparisons across reporting periods.

Certain non-IFRS and other financial measures are provided on a consolidated basis and separately for each of our segments (Civil Aviation and Defense and Security) since we analyze their results and performance separately.

Reconciliations and calculations of non-IFRS measures to the most directly comparable measures under IFRS are also set forth below in the section Reconciliations and Calculations of this press release. 

Performance measures

Operating income margin (or operating income as a % of revenue)
Operating income margin is a supplementary financial measure calculated by dividing our operating income by revenue for a given period. We track it because we believe it provides an enhanced understanding of our operating performance and facilitates the comparison across reporting periods.

Adjusted segment operating income or loss
Adjusted segment operating income or loss is a non-IFRS financial measure that gives us an indication of the profitability of each segment because it does not include the impact of any items not specifically related to the segment’s performance. We calculate adjusted segment operating income by taking operating income and adjusting for restructuring, integration and acquisition costs, and impairments and other gains and losses arising from significant strategic transactions or specific events. Impairments and other gains and losses arising from significant strategic transactions or specific events consist of the impairment of goodwill (as described in Note 14 of our consolidated financial statements for the year ended March 31, 2024), the impairment of technology and other non-financial assets (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2024), the impairment reversal of non-financial assets following their repurposing and optimization (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2023) and the cloud computing transition adjustment (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2022). We track adjusted segment operating income because we believe it provides an enhanced understanding of our operating performance and facilitates the comparison across reporting periods. Adjusted segment operating income on a consolidated basis is a total of segments measure since it is the profitability measure employed by management for making decisions about allocating resources to segments and assessing segment performance.

Adjusted segment operating income or loss excluding Legacy Contracts further excludes the impact from accelerated risk recognition on the Legacy Contracts recorded in the fourth quarter of fiscal 2024. No such accelerated risk recognition on Legacy Contracts was recorded in fiscal 2023. Adjusted segment operating income or loss excluding Legacy Contracts is also useful because it provides a better understanding of the specific and impact from accelerated risk recognition on the Legacy Contracts on our performance.

Adjusted segment operating income margin (or adjusted segment operating income as a % of revenue)
Adjusted segment operating income margin is a non-IFRS ratio calculated by dividing our adjusted segment operating income by revenue for a given period. We track it because we believe it provides an enhanced understanding of our operating performance and facilitates the comparison across reporting periods.

Adjusted segment operating income margin excluding Legacy Contracts further excludes the impact from accelerated risk recognition on the Legacy Contracts recorded in the fourth quarter of fiscal 2024. No such accelerated risk recognition on Legacy Contracts was recorded in fiscal 2023. Adjusted segment operating income margin excluding Legacy Contracts is also useful because it provides a better understanding of the specific and impact from accelerated risk recognition on the Legacy Contracts on our performance.

Adjusted effective tax rate
Adjusted effective tax rate is a supplementary financial measure that represents the effective tax rate on adjusted net income or loss. It is calculated by dividing our income tax expense by our earnings before income taxes, adjusting for the same items used to determine adjusted net income or loss. We track it because we believe it provides an enhanced understanding of the impact of changes in income tax rates and the mix of income on our operating performance and facilitates the comparison across reporting periods.

Adjusted net income or loss
Adjusted net income or loss is a non-IFRS financial measure we use as an alternate view of our operating results. We calculate it by taking our net income attributable to equity holders of the Company from continuing operations and adjusting for restructuring, integration and acquisition costs, and impairments and other gains and losses arising from significant strategic transactions or specific events, after tax, as well as significant one-time tax items. Impairments and other gains and losses arising from significant strategic transactions or specific events consist of the impairment of goodwill (as described in Note 14 of our consolidated financial statements for the year ended March 31, 2024), the impairment of technology and other non-financial assets (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2024), the impairment reversal of non-financial assets following their repurposing and optimization (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2023) and the cloud computing transition adjustment (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2022). We track adjusted net income because we believe it provides an enhanced understanding of our operating performance and facilitates the comparison across reporting periods.

Adjusted earnings or loss per share (EPS)
Adjusted earnings or loss per share is a non-IFRS ratio calculated by dividing adjusted net income or loss by the weighted average number of diluted shares. We track it because we believe it provides an enhanced understanding of our operating performance on a per share basis and facilitates the comparison across reporting periods.

Adjusted EPS excluding Legacy Contracts further excludes the impact from accelerated risk recognition on the Legacy Contracts recorded in the fourth quarter of fiscal 2024. No such accelerated risk recognition on Legacy Contracts was recorded in fiscal 2023. Adjusted EPS excluding Legacy Contracts is also useful because it provides a better understanding of the specific and impact from accelerated risk recognition on the Legacy Contracts on our performance.

EBITDA and Adjusted EBITDA
EBITDA is a non-IFRS financial measure which comprises net income or loss from continuing operations before income taxes, finance expense – net, depreciation and amortization. Adjusted EBITDA further adjusts for restructuring, integration and acquisition costs, and impairments and other gains and losses arising from significant strategic transactions or specific events. Impairments and other gains and losses arising from significant strategic transactions or specific events consist of the impairment of goodwill (as described in Note 14 of our consolidated financial statements for the year ended March 31, 2024), the impairment of technology and other non-financial assets (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2024), the impairment reversal of non-financial assets following their repurposing and optimization (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2023) and the cloud computing transition adjustment (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2022). We use EBITDA and adjusted EBITDA to evaluate our operating performance, by eliminating the impact of non-operational or non-cash items.

Adjusted EBITDA excluding Legacy Contracts further excludes the impact from accelerated risk recognition on the Legacy Contracts recorded in the fourth quarter of fiscal 2024. No such accelerated risk recognition on Legacy Contracts was recorded in fiscal 2023. Adjusted EBITDA excluding Legacy Contracts is also useful because it provides a better understanding of the specific and impact from accelerated risk recognition on the Legacy Contracts on our performance.

Free cash flow
Free cash flow is a non-IFRS financial measure that shows us how much cash we have available to invest in growth opportunities, repay debt and meet ongoing financial obligations. We use it as an indicator of our financial strength and liquidity. We calculate it by taking the net cash generated by our continuing operating activities, subtracting maintenance capital expenditures, intangible assets expenditures excluding capitalized development costs, other investing activities not related to growth and dividends paid and adding proceeds from the disposal of property, plant and equipment, dividends received from equity accounted investees and proceeds, net of payments, from equity accounted investees.

Cash conversion rate
Cash conversion rate is a non-IFRS ratio calculated by dividing free cash flow by adjusted net income. We use it to assess our performance in cash flow generation and as a basis for evaluating our capitalization structure.

Liquidity and Capital Structure measures

Adjusted return on capital employed (ROCE)
Adjusted ROCE is a non-IFRS ratio calculated over a rolling four-quarter period by taking net income attributable to equity holders of the Company from continuing operations adjusting for net finance expense, after tax, restructuring, integration and acquisition costs, and impairments and other gains and losses arising from significant strategic transactions or specific events divided by the average capital employed from continuing operations. Impairments and other gains and losses arising from significant strategic transactions or specific events consist of the impairment of goodwill (as described in Note 14 of our consolidated financial statements for the year ended March 31, 2024), the impairment of technology and other non-financial assets (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2024), the impairment reversal of non-financial assets following their repurposing and optimization (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2023) and the cloud computing transition adjustment (as described in Note 5 of our consolidated financial statements for the year ended March 31, 2022). We use adjusted ROCE to evaluate the profitability of our invested capital.

Net debt
Net debt is a capital management measure we use to monitor how much debt we have after taking into account cash and cash equivalents. We use it as an indicator of our overall financial position, and calculate it by taking our total long-term debt, including the current portion of long-term debt, and subtracting cash and cash equivalents.

Net debt-to-adjusted EBITDA
Net debt-to-adjusted EBITDA is a non-IFRS ratio calculated as net debt divided by the last twelve months adjusted EBITDA. We use it because it reflects our ability to service our debt obligations.

Net debt-to-adjusted EBITDA excluding Legacy Contracts further excludes the impact from accelerated risk recognition on the Legacy Contracts recorded in the fourth quarter of fiscal 2024. No such accelerated risk recognition on Legacy Contracts was recorded in fiscal 2023. Net debt-to-adjusted EBITDA excluding Legacy Contracts is also useful because it provides a better understanding of the specific and impact from accelerated risk recognition on the Legacy Contracts on our ability to service our debt obligations.

Maintenance and growth capital expenditures
Maintenance capital expenditure is a supplementary financial measure we use to calculate the investment needed to sustain the current level of economic activity. Growth capital expenditure is a supplementary financial measure we use to calculate the investment needed to increase the current level of economic activity. The sum of maintenance capital expenditures and growth capital expenditures represents our total property, plant and equipment expenditures.

Growth measures

Adjusted order intake
Adjusted order intake is a supplementary financial measure that represents the expected value of orders we have received:

For the Civil Aviation segment, we consider an item part of our adjusted order intake when we have a legally binding commercial agreement with a client that includes enough detail about each party’s obligations to form the basis for a contract. Additionally, expected future revenues from customers under short-term and long-term training contracts are included when these customers commit to pay us training fees, or when we reasonably expect the revenue to be generated;For the Defense and Security segment, we consider an item part of our adjusted order intake when we have a legally binding commercial agreement with a client that includes enough detail about each party’s obligations to form the basis for a contract. Defense and Security contracts are usually executed over a long-term period but some of them must be renewed each year. For this segment, we only include a contract item in adjusted order intake when the customer has authorized the contract item and has received funding for it.

Adjusted backlog
Adjusted backlog is a supplementary financial measure that represents expected future revenues and includes obligated backlog, joint venture backlog and unfunded backlog and options:

Obligated backlog represents the value of our adjusted order intake not yet executed and is calculated by adding the adjusted order intake of the current period to the balance of the obligated backlog at the end of the previous fiscal year, subtracting the revenue recognized in the current period and adding or subtracting backlog adjustments. If the amount of an order already recognized in a previous fiscal year is modified, the backlog is revised through adjustments;Joint venture backlog is obligated backlog that represents the expected value of our share of orders that our joint ventures have received but have not yet executed. Joint venture backlog is determined on the same basis as obligated backlog described above;Unfunded backlog represents legally binding Defense and Security orders with the U.S. government that we have received but have not yet executed and for which funding authorization has not yet been obtained. The uncertainty relates to the timing of the funding authorization, which is influenced by the government’s budget cycle, based on a September year-end. Options are included in adjusted backlog when there is a high probability of being exercised, which we define as at least 80% probable, but multi-award indefinite-delivery/indefinite-quantity (ID/IQ) contracts are excluded. When an option is exercised, it is considered adjusted order intake in that period, and it is removed from unfunded backlog and options.

Book-to-sales ratio
The book-to-sales ratio is a supplementary financial measure calculated by dividing adjusted order intake by revenue in a given period. We use it to monitor the level of future growth of the business over time.

Supplementary non-financial information definitions

Full-flight simulators (FFSs) in CAE’s network
A FFS is a full-size replica of a specific make, model and series of an aircraft cockpit, including a motion system. In our count of FFSs in the network, we generally only include FFSs that are of the highest fidelity and do not include any fixed based training devices, or other lower-level devices, as these are typically used in addition to FFSs in the same approved training programs.

Simulator equivalent unit (SEU)
SEU is a measure we use to show the total average number of FFSs available to generate earnings during the period. For example, in the case of a 50/50 flight training joint venture, we will report only 50% of the FFSs under this joint venture as a SEU. If a FFS is being powered down and relocated, it will not be included as a SEU until the FFS is re-installed and available to generate earnings.

Utilization rate
Utilization rate is a measure we use to assess the performance of our Civil simulator training network. While utilization rate does not perfectly correlate to revenue recognized, we track it, together with other measures, because we believe it is an indicator of our operating performance. We calculate it by taking the number of training hours sold on our simulators during the period divided by the practical training capacity available for the same period.

Reconciliations and Calculations

Reconciliation of adjusted segment operating income

Defense

(amounts in millions)

Civil Aviation

and Security

Total

Three months ended March 31

2024

2023

2024

2023

2024

2023

Operating income (loss)

$    147.0

$    149.3

$   (680.0)

$       29.0

$   (533.0)

$    178.3

Restructuring, integration and acquisition costs

44.4

13.6

10.6

1.5

55.0

15.1

Impairments and other gains and losses arising from

significant strategic transactions or specific events:

Impairment of goodwill

568.0

568.0

Impairment of technology and other non-financial assets

35.7

35.7

Adjusted segment operating income (loss)

$    191.4

$    162.9

$     (65.7)

$       30.5

$    125.7

$    193.4

Defense

(amounts in millions)

Civil Aviation

and Security

Total

Three months ended March 31

2024

2023

2024

2023

2024

2023

Adjusted segment operating income (loss)

$    191.4

$    162.9

$     (65.7)

$       30.5

$    125.7

$    193.4

Impact from accelerated risk recognition on the Legacy Contracts

90.3

90.3

Adjusted segment operating income excluding Legacy Contracts

$    191.4

$    162.9

$       24.6

$       30.5

$    216.0

$    193.4

 

Defense

(amounts in millions)

Civil Aviation

and Security

Total

Years ended March 31

2024

2023

2024

2023

2024

2023

Operating income (loss)

$    442.0

$    430.3

$   (627.4)

$       35.7

$   (185.4)

$    466.0

Restructuring, integration and acquisition costs

106.9

52.0

24.5

10.6

131.4

62.6

Impairments and other gains and losses arising from

significant strategic transactions or specific events:

Impairment of goodwill

568.0

568.0

Impairment of technology and other non-financial assets

35.7

35.7

Impairment reversal of non-financial assets

following their repurposing and optimization

3.0

6.8

9.8

Adjusted segment operating income

$    548.9

$    485.3

$         0.8

$       53.1

$    549.7

$    538.4

Defense

(amounts in millions)

Civil Aviation

and Security

Total

Years ended March 31

2024

2023

2024

2023

2024

2023

Adjusted segment operating income

$    548.9

$    485.3

$         0.8

$       53.1

$    549.7

$    538.4

Impact from accelerated risk recognition on the Legacy Contracts

90.3

90.3

Adjusted segment operating income excluding Legacy Contracts

$    548.9

$    485.3

$       91.1

$       53.1

$    640.0

$    538.4

 

Reconciliation of adjusted net income and adjusted EPS

Three months ended

Years ended

March 31

March 31

(amounts in millions, except per share amounts)

2024

2023

2024

2023

Net (loss) income attributable to equity holders of the Company

$     (484.2)

$         98.4

$     (304.0)

$       222.7

Net income from discontinued operations

(20.5)

(4.8)

(21.3)

(2.1)

Restructuring, integration and acquisition costs, after tax

42.3

12.5

101.0

48.2

Impairments and other gains and losses arising from

significant strategic transactions or specific events:

Impairment of goodwill, after tax

473.7

473.7

Impairment of technology and other non-financial assets, after tax

27.4

27.4

Impairment reversal of non-financial assets

following their repurposing and optimization, after tax

7.1

Adjusted net income

$         38.7

$       106.1

$       276.8

$       275.9

Average number of shares outstanding (diluted)

318.3

318.7

318.2

318.4

Adjusted EPS

$         0.12

$         0.33

$         0.87

$         0.87

Three months ended

Years ended

March 31

March 31

(amounts in millions, except per share amounts)

2024

2023

2024

2023

Adjusted net income

$         38.7

$       106.1

$       276.8

$       275.9

Impact from accelerated risk recognition on the

Legacy Contract, after tax

78.5

78.5

Adjusted net income excluding Legacy Contracts

$       117.2

$       106.1

$       355.3

$       275.9

Adjusted EPS excluding Legacy Contracts

$         0.37

$         0.33

$         1.12

$         0.87

 

Reconciliation of free cash flow

Three months ended

Years ended

March 31

March 31

(amounts in millions)

2024

2023

2024

2023

Cash provided by operating activities*

$         46.7

$       158.5

$       438.8

$       522.9

Changes in non-cash working capital

168.5

22.1

128.1

(114.5)

Net cash provided by operating activities

$       215.2

$       180.6

$       566.9

$       408.4

Maintenance capital expenditures

(23.2)

(14.8)

(102.5)

(62.8)

Intangible assets expenditures excluding capitalized development costs

(7.6)

(13.7)

(33.4)

(39.3)

Proceeds from the disposal of property, plant and equipment

0.3

0.9

4.0

5.7

Net payments to equity accounted investees

(3.4)

(0.4)

(43.9)

(10.9)

Dividends received from equity accounted investees

6.8

20.6

37.1

40.9

Other investing activities not related to growth

(0.8)

(1.2)

(10.2)

(6.3)

Impact of discontinued operations

3.8

(24.4)

0.2

(2.6)

Free cash flow

$       191.1

$       147.6

$       418.2

$       333.1

* before changes in non-cash working capital

 

Reconciliation of EBITDA, adjusted EBITDA, net debt-to-EBITDA and net debt-to-adjusted EBITDA

Last twelve months ended

March 31

(amounts in millions, except net debt-to-EBITDA ratios)

2024

2023

Operating (loss) income

$       (185.4)

$       466.0

Depreciation and amortization

368.7

330.2

EBITDA

$         183.3

$       796.2

Restructuring, integration and acquisition costs

131.4

62.6

Impairments and other gains and losses arising from

significant strategic transactions or specific events:

Impairment of goodwill

568.0

Impairment of technology and other non-financial assets

35.7

Impairment reversal of non-financial assets following their repurposing and optimization

9.8

Adjusted EBITDA

$         918.4

$       868.6

Net debt

$      2,914.2

$    3,032.5

Net debt-to-EBITDA

15.90

3.81

Net debt-to-adjusted EBITDA

3.17

3.49

Last twelve months ended

March 31

(amounts in millions, except net debt-to-EBITDA ratios)

2024

2023

Adjusted EBITDA

$         918.4

$       868.6

Impact from accelerated risk recognition on the Legacy Contracts

90.3

Adjusted EBITDA excluding Legacy Contracts

$      1,008.7

$       868.6

Net debt-to-adjusted EBITDA excluding Legacy Contracts

2.89

3.49

 

Reconciliation of capital employed and net debt

As at March 31

As at March 31

(amounts in millions)

2024

2023

Use of capital:

Current assets

$             2,006.5

$             2,235.0

Less: cash and cash equivalents

(160.1)

(217.6)

Current liabilities

(2,358.4)

(2,246.7)

Less: current portion of long-term debt

308.9

214.6

Non-cash working capital

$               (203.1)

$                 (14.7)

Property, plant and equipment

2,515.6

2,387.1

Intangible assets

3,271.9

4,050.8

Other long-term assets

2,040.1

1,763.6

Other long-term liabilities

(407.7)

(565.4)

Capital employed

$             7,216.8

$             7,621.4

Source of capital:

Current portion of long-term debt

$                308.9

$                214.6

Long-term debt

2,765.4

3,035.5

Less: cash and cash equivalents

(160.1)

(217.6)

Net debt

$             2,914.2

$             3,032.5

Equity attributable to equity holders of the Company

4,224.9

4,507.7

Non-controlling interests

77.7

81.2

Capital employed

$             7,216.8

$             7,621.4

For non-IFRS and other financial measures monitored by CAE, and a reconciliation of such measures to the most directly comparable measure under IFRS, please refer to Section 12 of CAE’s MD&A for the year ended March 31, 2024 (which is incorporated by reference into this press release) available on our website (www.cae.com), SEDAR+ (www.SEDARplus.ca) and EDGAR (www.sec.gov).

Consolidated Income Statement

Three months ended

Years ended

March 31

March 31

(amounts in millions of Canadian dollars, except per share amounts)

2024

2023

2024

2023

Reclassified

Reclassified

Revenue

$

1,126.3

$

1,197.4

$

4,282.8

$

4,010.6

Cost of sales

844.8

860.6

3,128.3

2,927.1

Gross profit

$

281.5

$

336.8

$

1,154.5

$

1,083.5

Research and development expenses

41.7

37.8

149.8

129.0

Selling, general and administrative expenses

138.1

134.2

535.0

501.5

Other (gains) and losses

36.3

(9.3)

27.9

(22.4)

Share of after-tax profit of equity accounted investees

(24.6)

(19.3)

(72.2)

(53.2)

Restructuring, integration and acquisition costs

55.0

15.1

131.4

62.6

Impairment of goodwill

568.0

568.0

Operating income (loss)

$

(533.0)

$

178.3

$

(185.4)

$

466.0

Finance expense – net

52.4

50.4

205.0

173.6

(Loss) earnings before income taxes

$

(585.4)

$

127.9

$

(390.4)

$

292.4

Income tax (recovery) expense

(80.6)

30.8

(72.8)

62.6

Net income (loss) from continuing operations

$

(504.8)

$

97.1

$

(317.6)

$

229.8

Net income from discontinued operations

20.5

4.8

21.3

2.1

Net income (loss)

$

(484.3)

$

101.9

$

(296.3)

$

231.9

Attributable to:

Equity holders of the Company

$

(484.2)

$

98.4

$

(304.0)

$

222.7

Non-controlling interests

(0.1)

3.5

7.7

9.2

(Loss) earnings per share attributable to equity holders of the Company

Basic and diluted – continuing operations

$

(1.58)

$

0.29

$

(1.02)

$

0.69

Basic and diluted – discontinued operations

0.06

0.02

0.07

0.01

Consolidated Statement of Comprehensive Income

Three months ended

Years ended

March 31

March 31

(amounts in millions of Canadian dollars)

2024

2023

2024

2023

Reclassified

Reclassified

Net (loss) income from continuing operations

$

(504.8)

$

97.1

$

(317.6)

$

229.8

Items that may be reclassified to net (loss) income

Foreign currency exchange differences on translation of foreign operations

$

100.6

$

20.7

$

(4.7)

$

325.3

Net (loss) gain on hedges of net investment in foreign operations

(46.6)

0.4

8.0

(112.6)

Reclassification to income of gains on foreign currency exchange differences

(1.4)

(0.2)

(1.6)

(6.4)

Net loss on cash flow hedges

(19.3)

(3.8)

(11.9)

(14.0)

Reclassification to income of losses (gains) on cash flow hedges

0.1

6.0

5.0

(5.5)

Income taxes

8.5

(2.3)

(1.0)

9.9

$

41.9

$

20.8

$

(6.2)

$

196.7

Items that will never be reclassified to net (loss) income

Remeasurement of defined benefit pension plan obligations

$

38.5

$

18.5

$

16.0

$

74.2

Income taxes

(10.2)

(4.8)

(4.2)

(19.7)

$

28.3

$

13.7

$

11.8

$

54.5

Other comprehensive income from continuing operations

$

70.2

$

34.5

$

5.6

$

251.2

Net income from discontinued operations

$

20.5

$

4.8

$

21.3

$

2.1

Other comprehensive (loss) income from discontinued operations

(5.3)

(0.1)

(7.0)

5.8

Total comprehensive (loss) income

$

(419.4)

$

136.3

$

(297.7)

$

488.9

Attributable to:

Equity holders of the Company

$

(420.3)

$

132.5

$

(305.4)

$

475.6

Non-controlling interests

0.9

3.8

7.7

13.3

Consolidated Statement of Financial Position

March 31

March 31

(amounts in millions of Canadian dollars)

2024

2023

Assets

Cash and cash equivalents

$

160.1

$

217.6

Accounts receivable

624.7

615.7

Contract assets

537.6

693.8

Inventories

573.6

583.4

Prepayments

68.0

64.1

Income taxes recoverable

35.3

48.3

Derivative financial assets

7.2

12.1

Total current assets

$

2,006.5

$

2,235.0

Property, plant and equipment

2,515.6

2,387.1

Right-of-use assets

545.8

426.9

Intangible assets

3,271.9

4,050.8

Investment in equity accounted investees

588.8

530.7

Employee benefits assets

65.7

51.1

Deferred tax assets

233.3

125.1

Derivative financial assets

4.2

9.2

Other non-current assets

602.3

620.6

Total assets

$

9,834.1

$

10,436.5

Liabilities and equity

Accounts payable and accrued liabilities

$

1,035.3

$

1,036.7

Provisions

42.6

26.7

Income taxes payable

31.1

21.1

Contract liabilities

911.7

905.7

Current portion of long-term debt

308.9

214.6

Derivative financial liabilities

28.8

41.9

Total current liabilities

$

2,358.4

$

2,246.7

Provisions

14.0

20.1

Long-term debt

2,765.4

3,035.5

Royalty obligations

74.4

119.4

Employee benefits obligations

98.7

91.9

Deferred tax liabilities

36.6

129.3

Derivative financial liabilities

2.9

6.5

Other non-current liabilities

181.1

198.2

Total liabilities

$

5,531.5

$

5,847.6

Equity

Share capital

$

2,252.9

$

2,243.6

Contributed surplus

55.4

42.1

Accumulated other comprehensive income

154.0

167.2

Retained earnings

1,762.6

2,054.8

Equity attributable to equity holders of the Company

$

4,224.9

$

4,507.7

Non-controlling interests

77.7

81.2

Total equity

$

4,302.6

$

4,588.9

Total liabilities and equity

$

9,834.1

$

10,436.5

Consolidated Statement of Changes in Equity

Attributable to equity holders of the Company

Common shares

Accumulated other

Non-

(amounts in millions of Canadian dollars,

Number of

Stated

Contributed

comprehensive

Retained

controlling

Total

except number of shares)

shares

value

surplus

income

earnings

Total

interests

equity

Balances as at March 31, 2022

317,024,123

$

2,224.7

$

38.6

$

(31.2)

$

1,777.6

$

4,009.7

$

76.9

$

4,086.6

Net income

$

$

$

$

222.7

$

222.7

$

9.2

$

231.9

Other comprehensive income

198.4

54.5

252.9

4.1

257.0

Total comprehensive income

$

$

$

198.4

$

277.2

$

475.6

$

13.3

$

488.9

Exercise of stock options

882,167

18.9

(2.6)

16.3

16.3

Equity-settled share-based payments expense

6.1

6.1

6.1

Transactions with non-controlling interests

(9.0)

(9.0)

Balances as at March 31, 2023

317,906,290

$

2,243.6

$

42.1

$

167.2

$

2,054.8

$

4,507.7

$

81.2

$

4,588.9

Net (loss) income

$

$

$

$

(304.0)

$

(304.0)

$

7.7

$

(296.3)

Other comprehensive (loss) income

(13.2)

11.8

(1.4)

(1.4)

Total comprehensive (loss) income

$

$

$

(13.2)

$

(292.2)

$

(305.4)

$

7.7

$

(297.7)

Exercise of stock options

405,943

9.3

(1.5)

7.8

7.8

Equity-settled share-based payments expense

14.8

14.8

14.8

Transactions with non-controlling interests

(11.2)

(11.2)

Balances as at March 31, 2024

318,312,233

$

2,252.9

$

55.4

$

154.0

$

1,762.6

$

4,224.9

$

77.7

$

4,302.6

Consolidated Statement of Cash Flows

Years ended March 31

(amounts in millions of Canadian dollars)

2024

2023

Operating activities

Net (loss) income

$

(296.3)

$

231.9

Adjustments for:

Depreciation and amortization

374.8

342.2

Impairment of goodwill

568.0

Impairment (reversal) of non-financial assets – net

57.3

(2.4)

Share of after-tax profit of equity accounted investees

(72.2)

(53.2)

Deferred income taxes

(166.5)

10.4

Investment tax credits

(14.8)

(5.4)

Equity-settled share-based payments expense

14.8

6.1

Defined benefit pension plans

8.3

4.8

Other non-current liabilities

(9.7)

(15.9)

Derivative financial assets and liabilities – net

(12.7)

(3.7)

After-tax gain on disposal of discontinued operations

(16.5)

Other

4.3

8.1

Changes in non-cash working capital

128.1

(114.5)

Net cash provided by operating activities

$

566.9

$

408.4

Investing activities

Business combinations, net of cash acquired

$

$

(6.4)

Proceeds from disposal of discontinued operations

275.3

Property, plant and equipment expenditures

(329.8)

(268.8)

Proceeds from disposal of property, plant and equipment

4.0

5.7

Advance payments for property, plant and equipment

(30.1)

Intangible assets expenditures

(147.9)

(126.4)

Net payments to equity accounted investees

(43.9)

(10.9)

Dividends received from equity accounted investees

37.1

40.9

Other

(10.2)

(4.7)

Net cash used in investing activities

$

(215.4)

$

(400.7)

Financing activities

Net (repayment of) proceeds from borrowing under revolving credit facilities

$

(396.7)

$

44.5

Proceeds from long-term debt

433.5

31.2

Repayment of long-term debt

(370.4)

(161.0)

Repayment of lease liabilities

(69.5)

(83.4)

Net proceeds from the issuance of common shares

7.8

16.3

Other

(0.2)

Net cash used in financing activities

$

(395.3)

$

(152.6)

Effect of foreign currency exchange differences on cash and cash equivalents

$

(13.7)

$

16.4

Net decrease in cash and cash equivalents

$

(57.5)

$

(128.5)

Cash and cash equivalents, beginning of year

217.6

346.1

Cash and cash equivalents, end of year

$

160.1

$

217.6

 

Contacts
Investor Relations:
Andrew Arnovitz, Senior Vice President, Investor Relations and Enterprise Risk Management, 1-514-734-5760, andrew.arnovitz@cae.com 

Media:
Samantha Golinski, Vice President, Public Affairs and Global Communications, 1-438-805-5856, samantha.golinski@cae.com

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Global Ultrasound Institute (GUSI) Unveils POCUS Essentials Plus Simulation: A Game-Changing Advancement in Point-of-Care Ultrasound Training

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Partnership with e-Sono (3B Scientific) Delivers Unmatched Learning Experience with Over 1,000 Case-Based Simulations and Comprehensive Educational Resources

SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — Global Ultrasound Institute (GUSI), the leading provider of point-of-care ultrasound (POCUS) education and training, is thrilled to announce the launch of its latest innovation, POCUS Essentials Plus Simulation. This groundbreaking product is the result of a strategic partnership with e-Sono, a division of 3B Scientific, and promises to revolutionize ultrasound training by combining GUSI’s premier learning resources with e-Sono’s extensive simulation library.

GUSI introduces Simulation-enhanced online POCUS courses

POCUS Essentials Plus Simulation offers an unparalleled educational experience by integrating GUSI’s complete learning library, which includes POCUS Essentials Courses across acute and primary care, pediatrics, obstetrics, and musculoskeletal ultrasound. Learners can now access detailed training on over 30 anatomical regions through hundreds of lectures delivered by leading POCUS experts.

“POCUS Essentials Plus Simulation is a significant leap forward in ultrasound education,” said Dr. Mena Ramos, co-CEO of GUSI. “Our collaboration with e-Sono allows us to offer a truly immersive learning experience that combines high-quality content with cutting-edge simulation technology. We are excited to provide healthcare professionals with the tools they need to excel in real-world clinical settings.”

The product also features advanced case-based clinical integration developed by POCUS clinical experts, along with robust anatomical coverage, including cross-sectional imaging. The inclusion of e-Sono’s comprehensive Sim Library, featuring more than 1,000 case-based ultrasound simulations, allows learners to practice scanning techniques and visualize pathology in a dynamic, interactive environment.

“The integration of digital simulation brings clinical anatomy and ultrasound images to life by allowing clinicians to see and correlate them in real time,” says Dr. Nicholas LeFevre, a fellowship-trained, active POCUS educator and Associate Professor of Family and Community Medicine at the University of Missouri.

“POCUS is an essential extension of our clinical evaluation. To master it, we must immerse ourselves in simulation-based education that reflects real patient care.”

Sahar Ahmad. M.D., Associate Professor of Medicine and Director of Medical Intensive Care Unit at Stony Brook University Hospital; Director, Ultrasound & Critical Care Education; Chair, Ultrasound Education Task Force, Renaissance School of Medicine at Stony Brook University

In addition to its educational resources, POCUS Essentials Plus Simulation includes all the features of GUSI’s ScanHub learning platform, such as Sage AI for on-demand expert answers, the ScanFolio device-independent scan archive and feedback system, a performance dashboard, and QBanks with thousands of questions and pathologic videos. The program is eligible for over 50 hours of Continuing Medical Education (CME) credits, further enhancing its value to healthcare professionals.

Fourth year med student at Touro University California Medical School Jori Enfield adds, “As a medical student, the POCUS Essentials Plus Simulation has been a great addition to my POCUS training. The interactive design has helped reinforce key concepts and boosted my confidence in identifying and interpreting anatomical structures through real-time ultrasound practice. The ability to practice independently, without needing an ultrasound model or instructor, provided both convenience and an effective way to build my skills. This program has greatly enhanced my ability to integrate POCUS into clinical rotations.”

Dr. Kevin Bergman, GUSI co-CEO added, “POCUS Essentials Plus Simulation sets a new standard for ultrasound training. The combination of extensive lectures, dynamic and interactive simulations, and expert clinical integration prepares learners for real-life applications in a way that traditional methods simply cannot match.”

For more information about the POCUS Essentials plus Simulation or any of GUSI services, please visit https://globalultrasoundinstitute.com/

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

About e-Sono (3B Scientific):

e-Sono, a division of 3B Scientific, specializes in advanced simulation technologies for medical education. With a focus on providing high-quality, interactive learning experiences, e-Sono supports the development of essential clinical skills through its extensive library of case-based ultrasound simulations and educational tools.

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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Technical Support Outsourcing Market to Grow by USD 17.3 Billion (2024-2028) as Demand for Cost-Efficient Solutions Rises, AI Drives Market Transformation- Technavio

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global technical support outsourcing market size is estimated to grow by USD 17.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.99%  during the forecast period. Increasing need for cost-effective solutions to improve efficiency is driving market growth, with a trend towards emergence of chatbots. However, outsourcing can compromise quality of technical support  poses a challenge. Key market players include Aress Software and Education Technologies P Ltd., Computer Generated Solutions Inc., CSS Corp., Essentiel Outsourcing S.L., Flatworld Solutions Pvt. Ltd., Genpact Ltd., Global response Corp., HCL Technologies Ltd., IBN Technologies Ltd., Infosys Ltd., International Business Machines Corp., Invensis Technologies Pvt. Ltd., ISPL Support Services, Qcom Outsourcing Ltd., StarTek Inc., Suma Soft Pvt. Ltd., Tata Consultancy Services Ltd., Telegenisys Inc., Wipro Ltd., and Worldwide Call Centers Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Technical Support Outsourcing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.99%

Market growth 2024-2028

USD 17.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

APAC, South America, Europe, North America, and Middle East and Africa

Performing market contribution

APAC at 58%

Key countries

China, Brazil, India, Germany, and Argentina

Key companies profiled

Aress Software and Education Technologies P Ltd., Computer Generated Solutions Inc., CSS Corp., Essentiel Outsourcing S.L., Flatworld Solutions Pvt. Ltd., Genpact Ltd., Global response Corp., HCL Technologies Ltd., IBN Technologies Ltd., Infosys Ltd., International Business Machines Corp., Invensis Technologies Pvt. Ltd., ISPL Support Services, Qcom Outsourcing Ltd., StarTek Inc., Suma Soft Pvt. Ltd., Tata Consultancy Services Ltd., Telegenisys Inc., Wipro Ltd., and Worldwide Call Centers Inc.

Market Driver

The technical support outsourcing market is experiencing growth due to the rising adoption of chatbots in various industries. These AI-powered tools offer a quick and efficient way for businesses to communicate with their customers, providing instant responses and reducing the need for on-site repair personnel. Machine Learning as a Service (MLaaS) is a key technology driving this trend, enabling chatbots to understand customer situations and generate appropriate responses in real time. Additionally, MLaaS can predict demand for services, providing enterprises with valuable insights and improving customer experience. Sectors such as retail, BFSI, and healthcare, which generate large amounts of data, are particularly benefiting from this integration. As a result, the global technical support outsourcing market is expected to expand significantly during the forecast period. 

The Technical Support Outsourcing market is thriving, with trends like chat boxes and virtual help desks revolutionizing customer interactions. Independent software vendors and SMEs are outsourcing technical support to cut operating expenses and access qualified personnel. The help desk system is becoming more sophisticated, with a tiered staffing structure including Tier 1 staff for basic queries. In the retail, BFSI, hospitality, and eCommerce industries, customer databases are driving the need for efficient technical support. Emerging technologies like quantum computing, electronic billing, and digital payment systems require specialized expertise. Call volume management is crucial, with CRM systems helping to streamline processes. Personnel training and system upgrades are ongoing priorities. In-house resources may not always have the technical skills needed for complex issues, making outsourcing an attractive option. The market is dynamic, with trends like user-friendly services and office space requirements shaping the landscape. Broken servers and other IT issues can cause significant downtime, making quick First Call Resolution essential. Overall, Technical Support Outsourcing is an essential strategy for businesses looking to stay competitive in today’s digital world. 

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Market Challenges

Technical support outsourcing allows enterprises to delegate their customer service needs to third-party companies. However, this arrangement comes with challenges. Quality issues may arise due to the lack of direct control over the services provided. Consumers’ expectations may not always be met, leading to dissatisfaction. Moreover, hidden costs and inefficiencies can increase the overall expense. These factors impact the quality of services delivered to end-users, posing a significant challenge for service providers in the technical support outsourcing market. Despite these hurdles, the market is expected to grow due to factors such as cost savings and access to specialized expertise. However, addressing the aforementioned challenges is crucial for ensuring customer satisfaction and market success.Technical support outsourcing has become a popular solution for various industries including retail, BFSI, hospitality, eCommerce, and more. Outsourcing technical support allows businesses to focus on their core competencies while experts handle IT issues. However, challenges persist. In industries like retail and BFSI, managing customer databases and ensuring data security are crucial. Emerging technologies like quantum computing, electronic billing, and digital payment systems require technical expertise. User-friendly services, office space, and system upgrades also demand attention. Training, broken servers, and outsourcing maintenance are common challenges. Global SMEs and independent software vendors seek cost-effective ways to provide quality technical support. Policies, strategies, and initiatives are essential for addressing data breaches and financial harm. Internal IT teams face employee capability limitations, accessibility issues, and business plan alignment. Consumer technical support requires digital technology proficiency, social media savvy, and online platform expertise. Smart computing devices, cost-effective ways, and global digital transformation call for automation and technical expertise.

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Segment Overview 

This technical support outsourcing market report extensively covers market segmentation by

Type 1.1 Help desk1.2 Call centerBusiness Segment2.1 Large enterprises2.2 SMEsGeography 3.1 APAC3.2 South America3.3 Europe3.4 North America3.5 Middle East and Africa

1.1 Help desk-  The Technical Support Outsourcing Market continues to grow, with businesses increasingly turning to external providers for cost savings and expertise. Outsourcing allows companies to focus on their core competencies while receiving reliable and efficient technical support services. Service providers offer 24/7 support, multilingual capabilities, and advanced technology solutions. This partnership results in improved customer satisfaction and operational efficiency for businesses.

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Research Analysis

Technical support outsourcing refers to the practice of companies contracting third-party providers to manage and resolve their customers’ technology-related issues. In various industries like retail, BFSI, hospitality, eCommerce, and more, outsourcing technical support has become a cost-effective way to improve customer experience and focus on core business functions. With the rise of digital technology, emerging technologies such as quantum computing, electronic billing, and digital payment systems are increasingly being adopted. This creates a need for user-friendly services and efficient technical support. Outsourcing technical support allows companies to access skilled professionals and keep up with system upgrades and training. Broken servers, internet service, smart computing devices, and software projects require constant attention. Social media and online platforms add another layer of complexity. Technical support outsourcing providers offer maintenance and helpdesk services, ensuring that businesses can provide uninterrupted services to their customers. The global digital transformation trend drives the demand for outsourcing technical support. Companies can save on office space and costs while ensuring that their customers’ queries are addressed promptly and efficiently. Consumer technical support is a crucial aspect of any business, and outsourcing allows companies to provide round-the-clock support, enabling them to stay competitive in the digital age.

Market Research Overview

Technical support outsourcing refers to the practice of hiring third-party providers to manage and deliver customer technical assistance services. This approach is increasingly popular among various industries, including retail, BFSI, hospitality, eCommerce, and more, due to the benefits it offers in managing customer databases and handling emerging technologies such as quantum computing, electronic billing, digital payment systems, and user-friendly services. Outsourcing technical support can help businesses save on office space and system upgrades, while also providing access to trained personnel and quality control measures. However, it’s essential to consider policies, strategies, and initiatives to ensure technical expertise, automation, and First Call Resolution (FCR) rates. Independent software vendors and global SMEs can leverage outsourcing technical support to improve technology awareness and employee capability, while also addressing issues like broken servers, data breaches, and financial harm caused by internal IT teams. With the rise of digital technology, social media, online platforms, internet services, and smart computing devices, cost-effective ways to provide technical support are becoming increasingly important. Outsourcing maintenance, app development, and software projects can help businesses stay competitive in the global digital transformation landscape. Moreover, technical support outsourcing can help businesses manage call volume, implement help desk systems, and provide virtual help desks to offer 24/7 support. A tiered staffing structure with Tier 1 staff handling basic queries and CRM systems ensuring customer interactions can lead to improved technical skills, policies, and strategies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeHelp DeskCall CenterBusiness SegmentLarge EnterprisesSMEsGeographyAPACSouth AmericaEuropeNorth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

EV Charging Adapter Market to Grow by USD19.29 Billion (2024-2028) as Tax Incentives and AI-Driven Innovations, Boost EV Sales and Charging Infrastructure Development – Technavio

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global EV charging adapter market size is estimated to grow by USD 19.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 42.77% during the forecast period. Increasing EV sales through tax incentives pushing demand for well-built EV charger infrastructure is driving market growth, with a trend towards focus on reducing charging time. However, increasing cost pressure adversely affecting sales of ac level 2 and dc fast chargers poses a challenge – Key market players include ABB Ltd., Aptiv Plc, ChargePoint Holdings Inc., CHONGQING SENKU MACHINERY IMP AND EXP Co. Ltd., Delta Electronics Inc., Eaton Corp. Plc, EDF Energy Holdings Ltd, Enel Spa, EV Safe Charge Inc., FLO Services USA Inc., Kempower Oy, Lectron EV, Leviton Manufacturing Co. Inc., Phihong USA Corp., Robert Bosch GmbH, Schneider Electric SE, Shanghai Mida EV Power Co. Ltd., Shanghai Zencar Industry Co Ltd, Siemens AG, and Webasto SE.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Ev Charging Adapter Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 42.77%

Market growth 2024-2028

USD 19292.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

31.08

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 50%

Key countries

China, US, Norway, Japan, and Germany

Key companies profiled

ABB Ltd., Aptiv Plc, ChargePoint Holdings Inc., CHONGQING SENKU MACHINERY IMP AND EXP Co. Ltd., Delta Electronics Inc., Eaton Corp. Plc, EDF Energy Holdings Ltd, Enel Spa, EV Safe Charge Inc., FLO Services USA Inc., Kempower Oy, Lectron EV, Leviton Manufacturing Co. Inc., Phihong USA Corp., Robert Bosch GmbH, Schneider Electric SE, Shanghai Mida EV Power Co. Ltd., Shanghai Zencar Industry Co Ltd, Siemens AG, and Webasto SE

 

Market Driver

The Ev Charging Adapter Market is experiencing significant growth due to technological innovations in battery technology and charging infrastructure. Manufacturers are focusing on reducing charging time and cost, leading to advancements such as portable solar-powered charging stations and ultra-fast charging stations. For instance, Envision Solar’s EV ARC is a solar-powered parking structure that charges a 21.6-kilowatt-hour battery, while the China State Grid’s ultra-fast charging station in Beijing can charge buses to 100% in 10 minutes using Microvast’s ultra-fast charging battery and 31 chargers. GE’s multi-coil system enables efficient interoperability and charging while driving, and DC fast charging offers a range of 40 miles in 10 minutes. The use of solar energy for charging EVs is an emerging trend, which is expected to be encouraged by private and government bodies due to its low cost, driving the market’s growth during the forecast period. 

The EV charging adapter market is experiencing rapid growth in the automobile sector due to the increasing popularity of electric vehicles (EVs). By 2027, the market is forecasted to expand significantly. EV charging adapters enable compatibility between charging stations and various EV models with different charging connector types such as CHAdeMO and CCS. Improvements in charging infrastructure networks, installation in public areas, workplaces, residential complexes, and highways, are driving the market. Innovation, efficiency, versatility, safety features, and user-friendly designs are key factors contributing to the popularity of EV charging adapters. Diverse charging standards, including those for battery-electric vehicles and plug-in hybrid vehicles like the Chevrolet Volt and Nissan Leaf, necessitate the use of EV charging adapters. Environmental concerns, government norms, raw material prices, and compatibility with various charging port types are influencing market trends. Brands like ConnectDER, with offerings like meter sockets and home EV chargers, are providing rebates and tax credits to boost consumer adoption. 

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 Market Challenges

The global EV charging adapter market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) and the development of charging infrastructure. Governments worldwide prioritize vehicle safety, leading to the integration of advanced safety systems like antilock braking systems, airbags, tire pressure monitoring systems, and advanced driver assistance systems in both premium and entry-level vehicles. In particular, the US and China have shown high adoption rates for advanced driver assistance systems. However, the added cost of these safety features and EV charging adapters is a concern for Original Equipment Manufacturers (OEMs). Price-sensitive buyers are unwilling to bear the extra cost, putting pressure on OEMs to absorb the expenses. This situation may negatively impact the growth of the EV charging adapter market during the forecast period. Moreover, the increasing number of EVs equipped with AC Level 2 chargers and the expansion of charging infrastructure in public places necessitate further investment from OEMs. To meet these demands, they must comply with standards such as the European New Car Assessment Programme (Euro NCAP) and other regional regulations. Despite the challenges, the long-term outlook for the EV charging adapter market remains positive due to the growing demand for electric vehicles and the need for reliable charging solutions.The Ev Charging Adapter Market is experiencing significant growth due to the increasing popularity of battery-electric and plug-in hybrid vehicles. However, challenges persist in improving charging infrastructure networks, particularly in public areas, workplaces, and residential complexes along highways. Innovation, efficiency, and versatility are key focus areas for manufacturers to meet diverse charging standards and user needs. Safety features and user-friendly designs are essential for gaining brand value and customer trust. Environmental concerns and government norms are driving the transition to zero emission vehicles, leading to the availability of rebates, tax credits, and incentives. Raw material prices and diverse charging standards pose challenges, but companies like ChargePoint, Sunrun, and ConnectDER are addressing these issues with Level 2 home chargers, WiFi capabilities, and various plug types (NEMA 14-50, NEMA 6-50). Brand value, convenience, and charging speed are crucial factors for consumers considering the Chevrolet Volt and Nissan Leaf. As the market evolves, the focus on efficiency, versatility, and safety features will continue to be essential for market success.

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Segment Overview 

This ev charging adapter market report extensively covers market segmentation by

Type 1.1 AC1.2 DCApplication 2.1 Public2.2 PrivateGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 AC- The Ev Charging Adapter Market is experiencing significant growth due to the increasing adoption of electric vehicles. These adapters enable charging at home or on the go, providing convenience for consumers. Manufacturers are focusing on developing efficient and cost-effective solutions to meet the rising demand. Key players in the market include Aptiv, Bosch, and Schneider Electric, among others. Collaborations and partnerships are common strategies to expand market reach and enhance product offerings. The market is expected to continue growing, driven by government initiatives and consumer preferences for sustainable transportation.

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Research Analysis

The Ev Charging Adapter Market is poised for significant growth in the Rapidly Automobile Sector, driven by the increasing popularity of electric vehicles (EVs). Charging adapters enable EVs to connect to various charging stations, with compatibility for different charging connector types such as CHAdeMO and CCS. The market forecast period projects continued expansion, fueled by the improvement of charging infrastructure networks. Individual charging stations, public areas, workplaces, residential complexes, highways, and other locations are installing charging ports to cater to the diverse charging standards of EVs. Safety features and user-friendly designs are key considerations for charging adapters, ensuring a seamless charging experience for users during the transition to electric vehicles. The diverse charging standards and the need for compatibility have led to the development of various connector types. CHAdeMO and CCS are currently the most common, but other standards may emerge. The convenience offered by EV charging adapters is a significant factor in the growth of the market, as they enable EV owners to charge their vehicles at a wider range of charging stations.

Market Research Overview

The Ev Charging Adapter Market is poised for significant growth in the Rapidly Automobile Sector, driven by the increasing popularity of electric vehicles (EVs). Charging adapters enable EVs to charge at various charging stations using different connector types such as CHAdeMO and CCS. The market is forecast to expand during the period due to the improvement of charging infrastructure networks, installation in public areas, workplaces, residential complexes, highways, and the transition to zero emission vehicles. The versatility, efficiency, safety features, and user-friendly designs of EV charging adapters are key factors driving their popularity. However, diverse charging standards and compatibility concerns may pose challenges. Environmental concerns, government norms, raw material prices, and the availability of rebates, tax credits, and incentives also influence market dynamics. Brands like ChargePoint, Sunrun, and ConnectDER offer Level 2 home chargers, meter sockets, and public charging ports. The market is expected to benefit from the increasing popularity of battery-electric vehicles and plug-in hybrid vehicles, including models like the Chevrolet Volt and Nissan Leaf.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeACDCApplicationPublicPrivateGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/ev-charging-adapter-market-to-grow-by-usd19-29-billion-2024-2028-as-tax-incentives-and-ai-driven-innovations-boost-ev-sales-and-charging-infrastructure-development—technavio-302254478.html

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