Montréal, Quebec, January 29, 2025

“CGI began fiscal 2025 with positive momentum as our team’s disciplined execution of our plan delivered strong first quarter results, even as some client industries continued to navigate a dynamic business environment,” said François Boulanger, President and Chief Executive Officer. “Our positioning as a trusted advisor for helping clients achieve outcomes from digitization—including through AI—contributed to bookings of over $4.1 billion, or 110% of revenue. The acceleration of our M&A investments continues to expand our client relationships and capabilities to drive stakeholder value this year and for the long-term. Importantly, cash from operations reached a new high of nearly $650 million in the quarter which further strengthens our capacity to fuel our build and buy profitable growth strategy for the future.”

Q1-F2025 performance highlights

  • Revenue of $3.79 billion, up 5.1% year-over-year or 2.7% year-over-year in constant currency1;
  • Earnings before income taxes of $591.7 million, up 12.3% year-over-year, for a margin1 of 15.6%;
  • Adjusted earnings before interest and taxes1 of $611.7 million, up 4.7% year-over-year, for a margin1 of 16.2%;
  • Net earnings of $438.6 million, up 12.5% year-over-year, for a margin1 of 11.6%;
  • Adjusted net earnings1, of $449.0 million, up 5.1% year-over-year, for a margin1 of 11.9%;
  • Diluted EPS of $1.92, up 15.0% year-over-year;
  • Adjusted diluted EPS1,2 of $1.97, up 7.7% year-over-year;
  • Cash provided by operating activities of $646.4 million, representing 17.1% of revenue1;
  • Bookings1 of $4.16 billion, for a book-to-bill ratio1 of 109.8% or 107.8% on a trailing twelve month basis; and
  • Backlog1 of $29.76 billion or 2.0x annual revenue.

Note: All figures in Canadian dollars. Q1-F2025 MD&A, interim condensed consolidated financial statements and accompanying notes can be found at cgi.com/investors and have been filed with the Canadian Securities Administrators on SEDAR+ at www.sedarplus.ca and the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.


1Constant currency revenue growth, adjusted earnings before interest and taxes, adjusted earnings before interest and taxes margin, adjusted net earnings, adjusted net earnings margin and adjusted diluted EPS are non-GAAP financial measures or ratios. Earnings before income taxes margin, net earnings margin, cash provided by operating activities as a percentage of revenue, bookings, book-to-bill ratio, and backlog are key performance measures. See “Non-GAAP and other key performance measures” section of this press release for more information, including quantitative reconciliations to the closest International Financial Reporting Standards (IFRS Accounting Standards) measure, as applicable. These are not standardized financial measures under IFRS Accounting Standards and might not be comparable to similar financial measures disclosed by other companies.

2Q1-F2025 adjusted for $10.4 million of restructuring, integration and acquisition-related costs, net of tax; Q1-F2024 adjusted for $37.4 million of restructuring, integration and acquisition-related costs, net of tax.

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