“CGI’s resilience and strong positioning—strategically, operationally, and financially—underpinned our team’s ability to deliver on our profitable growth plan for the fourth quarter and fiscal year 2023,” said George D. Schindler, President and Chief Executive Officer. “During Q4, clients prioritized cost savings and modernization initiatives, driving a 26% increase in new CGI managed services bookings compared to last year. As we look ahead, we are taking the actions necessary to further strengthen our capacity to continue delivering value for shareholders. This includes cost optimization and strategic investments to advance the next wave of innovation and growth, including the responsible use of AI, a key enabler for bringing the right mix of our end-to-end offerings to clients to help them generate the ROI necessary from their digitization initiatives.”
Q4-F2023 performance highlights
- Revenue of $3.51 billion, up 8.0% year-over-year or 2.2% year-over-year in constant currency;
- Earnings before income taxes of $557.9 million, up 14.8% year-over-year, for a margin of 15.9%;
- Adjusted EBIT of $573.0 million, up 9.8% year-over-year, for a margin of 16.3%;
- Net earnings of $414.5 million, up 14.4% year-over-year, for a margin of 11.8%;
- Net earnings excluding specific items of $421.2 million, up 12.9% year-over-year, for a margin of 12.0%;
- Diluted EPS of $1.76, up 16.6% year-over-year;
- Diluted EPS excluding specific items of $1.79, up 14.7% year-over-year;
- Cash from operating activities of $628.7 million, representing 17.9% of revenue;
- Bookings of $4.00 billion, for a book-to-bill ratio of 113.9%; and
- Backlog of $26.06 billion or 1.8x annual revenue.
F2023 performance highlights
- Revenue of $14.30 billion, up 11.1% year-over-year or 8.0% year-over-year in constant currency;
- Earnings before income taxes of $2.20 billion, up 11.7% year-over-year, for a margin of 15.4%;
- Adjusted EBIT of $2.31 billion, up 10.8% year-over-year, for a margin of 16.2%;
- Net earnings of $1.63 billion, up 11.3% year-over-year, for a margin of 11.4%;
- Net earnings excluding specific items of $1.68 billion, up 12.9% year-over-year, for a margin of 11.8%;
- Diluted EPS of $6.86, up 13.6% year-over-year;
- Diluted EPS excluding specific items of $7.07, up 15.3% year-over-year;
- Cash from operating activities of $2.11 billion, representing 14.8% of revenue; and
- Bookings of $16.26 billion, for a book-to-bill ratio of 113.7%.
Note: All figures in Canadian dollars. F2023 MD&A, audited consolidated financial statements and accompanying notes can be found at cgi.com/investors and have been filed with the Canadian Securities Regulators on SEDAR+ at www.sedarplus.ca and the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.