The increase in revenue excludes the C$230.6m ($182.1m) earned from a ventilator contract in 2021.
The positive performance was attributed to C$4.1bn ($3.2bn) in orders for a book-to-sales ratio of 1.21 times, and a C$9.6bn ($7.58bn) backlog.
In addition, the company finished the fourth quarter with C$955.0m ($754.2m) in revenue, a 25% increase from last year’s C$894.3m ($706.3m).
This excludes revenue earned from a ventilator contract in the fourth quarter of last year as part of CAE’s Covid-19 humanitarian aid.
Annual net income attributable to equity holders amounted to C$141.7m ($111.9m), compared to a net loss of C$47.2m ($37.2m) in 2021.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The company’s adjusted net income was C$261.5m ($206.5m) while the adjusted net income in the fourth quarter totalled C$92.0m ($72.6m).
It recorded an annual operating income of C$284.2m ($224.4m) and an adjusted segment operating income of C$444.5m ($351.0m), compared to C$280.6m ($221.6m) last year.
Adjusted segment operating income, apart from the government’s anti-Covid programmes, was C$430.9m ($340.3m).
CAE’s annual Defence revenue amounted to C$1.60bn ($1.26bn), a 32% increase over last year. The company also recorded a 40% rise in Defence revenue in the fourth quarter, totalling C$469.5m ($370.8m).
The latest figures under Defence reflect the acquisition of L3Harris Military Training (L3H MT).
The year saw the receipt of Defence orders worth C$1.9bn ($1.5bn) across domains including land, air, sea, space, and cyberspace.
CAE president and chief executive officer Marc Parent said: “I am very pleased with our strong performance in the fourth quarter and for the year, having delivered double-digit growth with higher margins, excellent free cash flow, and record order bookings.
“Testament to the quality of the results, we generated C$342m of free cash flow for a 131% cash conversion. These numbers are especially impressive considering that our industry is still in the early days of a cyclical recovery.”
Last year, CAE USA and Bell Textron collaborated for US Army Future Long-Range Assault Aircraft (FLRAA) and Future Attack Reconnaissance Aircraft (FARA) training.