“CGI began fiscal year 2023 with positive momentum, delivering sustained double-digit increases in both constant currency revenue growth and EPS accretion,” said George D. Schindler, President and Chief Executive Officer. “Our ongoing investments continued to deliver value for all of our stakeholders, notably in our strong positioning as a trusted partner for clients’ digitization priorities, which contributed to generating over $4 billion in bookings during the quarter, of which one-third were new business. CGI’s operational and delivery discipline also contributed to strengthening our robust balance sheet, enabling us to continue driving our build and buy profitable growth strategy.”
Q1-F2023 performance highlights
- Revenue of $3.45 billion, up 11.6% year-over-year or 12.3% year-over-year in constant currency;
- Adjusted EBIT of $554.1 million, up 6.3% year-over-year, for a margin of 16.1%;
- Net earnings of $382.4 million, up 4.1% year-over-year, for a margin of 11.1%;
- Net earnings excluding specific items* of $398.2 million, up 7.8% year-over-year, for a margin of 11.5%;
- Diluted EPS of $1.60, up 7.4% year-over-year; • Diluted EPS excluding specific items* of $1.66, up 10.7% year-over-year;
- Cash from operating activities of $605.3 million, representing 17.5% of revenue;
- Bookings of $4.04 billion, for a book-to-bill ratio of 117.0%; and
- Backlog of $25.01 billion or 1.9x annual revenue.
* Specific items in Q1-F2023 include: $15.8 million in acquisition-related and integration costs, net of tax; Specific items in Q1-F2022 include: $2.0 million in acquisition-related and integration costs, net of tax.
Note: All figures in Canadian dollars. Q1-F2023 MD&A, interim condensed consolidated financial statements and accompanying notes can be found at cgi.com/investors and have been filed with both SEDAR in Canada and EDGAR in the U.S.