CAE (TSE:CAE) has released an update.
CAE Inc. has undertaken significant restructuring of its Defense business, recording substantial impairments including a $568.0 million goodwill impairment due to underperformance in the Defense sector. The company appointed Nick Leontidis as COO to enhance execution and synergy between its Defense & Security and Civil Aviation segments. Despite these challenges, CAE’s Civil Aviation sector reported strong performance, with a record 27.3% adjusted segment operating income margin for the fiscal fourth quarter and a robust Civil adjusted order intake of $3.0 billion.
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