Montreal (Quebec), May 17, 2024

“In the quarter, our team continued to deliver shareholder value with strong net earnings and cash generation, even as some client industries continued to face uncertain economic conditions,” said George D. Schindler, President and Chief Executive Officer. “Through CGI’s portfolio of end-to-end service offerings, which are designed to deliver tangible and trusted business outcomes, we continue to partner with clients to bring value now and to position CGI for future profitable growth opportunities.”

Q2-F2024 performance highlights

  • Revenue of $3.74 billion, up 0.7% year-over-year and stable year-over-year in constant currency1;
  • Earnings before income taxes of $577.4 million, up 2.3% year-over-year, for a margin1 of 15.4%;
  • Adjusted EBIT1 of $628.5 million, up 4.6% year-over-year, for a margin1 of 16.8%;
  • Net earnings of $426.9 million, up 1.8% year-over-year, for a margin1 of 11.4%;
  • Net earnings excluding specific items, of $459.4 million, up 5.6% year-over-year, for a margin1 of 12.3%;
  • Diluted EPS of $1.83, up 4.0% year-over-year;
  • Diluted EPS excluding specific items1,2 of $1.97, up 8.2% year-over-year;
  • Cash from operating activities of $502.0 million, representing 13.4% of revenue1;
  • Bookings1 of $3.75 billion, for a book-to-bill ratio1 of 100.4% or 112.8% on a trailing twelve month basis; and
  • Backlog1 of $26.82 billion or 1.9x annual revenue.

Note: All figures in Canadian dollars. Q2-F2024 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 EBIT, adjusted EBIT margin, net earnings excluding specific items, net earnings margin excluding specific items and diluted EPS excluding specific items are non-GAAP financial measures or ratios. Earnings before income taxes margin, net earnings margin, cash from 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) measure, as applicable. These are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other companies.

2Specific items in Q2-F2024 include: $0.1 million in acquisition-related and integration costs and $32.4 million from the cost optimization program, both net of tax; Specific items in Q2-F2023 include: $15.5 million in acquisition-related and integration costs, net of tax.

 

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For more information:

Investors
Kevin Linder
Senior Vice-President, Investor Relations
kevin.linder@cgi.com
+1 905-973-8363

Media
Andrée-Anne Pelletier, APR, PRP
Manager, Global Media and Public Relations
an.pelletier@cgi.com
+1 438-468-9118