We summarize the results of our study of the cataclysmic variable AE Aqr on the basis of simultaneous UBV RI observations. For the flares, we estimated the average risetime of about 300 sec, and colours (U−B)0~1.1 and (B−V )0~0.1. We also calculated temperatures, sizes, masses and expansion velocities of a few individual fireballs. In a single night (16.08.2012), we detected ~ 8 min quasi-periodic modulation.