Montréal, Quebec, May 2, 2017

To access the financial statements – click here (PDF)

To access the MD&A - click here (PDF)

CGI (TSX: GIB.A) (NYSE: GIB) reported fiscal 2017 second quarter revenue of $2.7 billion, essentially stable compared with last year as foreign exchange fluctuations negatively impacted revenue by $178.6 million. On a constant currency basis, revenue grew by 5.6%.

Adjusted EBIT increased to $395.1 million, representing a margin of 14.5%, compared with $390.6 million, or 14.2% in Q2-F2016.

Net earnings were $274.4 million in Q2-F2017, representing 90 cents per diluted share. Net earnings excluding specific items were $275.2 million or 10.1% of revenue, compared with $268.3 million last year. When excluding specific items, earnings per diluted share were 91 cents, compared with 86 cents last year.

Bookings amounted to $2.7 billion in contract awards. On a trailing twelve month basis, total awards were $11.5 billion, or 107.9% of revenue. At the end of March, the Company’s backlog stood at $21.0 billion.


Second Quarterly Result
In millions of Canadian dollars except earnings per share and where noted    
  Q2-F2017 Q2-F2016
Revenue 2,724.4 2,750.0
Adjusted EBIT
Net earnings
Earnings per share (diluted) 0.90 0.90
Net earnings excluding specific items*
Earnings per share (diluted) excluding specific items* 0.91 0.86
Weighted average number of outstanding shares (diluted) 303,619,463 313,610,579
Net finance costs 17.8 22.6
Net debt 1,493.7 1,926.7
Net debt to capitalization ratio 18.2% 23.8%
Cash provided by operating activities 366.2 251.4
Days sales outstanding (DSO) 42 41
Return on invested capital (ROIC) 14.7% 14.4%
Return on Equity (ROE) 17.5% 16.9%
Bookings 2,734.6 2,733.9
Backlog 20,967.6 20,704.9

*Specific items in Q2-F2017: $0.8 million in integration-related costs net of tax. Specific items in Q2-F2016: $14.4 million tax adjustment.

“As organic growth continues accelerating across the majority of our global operations, we are making strategic acquisitions to enhance our end-to-end portfolio with high-end digital and industry domain expertise,” said George D. Schindler, President and Chief Executive Officer. “I am pleased with our team’s performance in Q2, delivering 5.6% revenue growth, the fourth consecutive quarter of positive growth, while at the same time expanding net margin.”

Cash generated from operating activities was $366.2 million or 13.4% of revenue, compared with $251.4 million in the year ago period. Over the last twelve months, the Company has generated $1.5 billion or $4.77 in cash per diluted share.

At the end of March, the Company had approximately $1.8 billion in available cash and unused credit facilities. Net debt was $1.5 billion, representing a year-over-year reduction of $433.0 million. As a result, the net debt to capitalization ratio improved to 18.2% from 23.8%.

Q2-F2017 results conference call

Management will host a conference call this morning at 9:00 a.m. Eastern Daylight Time to discuss results. Participants may access the call by dialing 1-866-223-7781 or via For those unable to participate on the live call, a podcast and copy of the slides will be archived for download at

About CGI

Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 70,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services, including high-end business and IT consulting, systems integration, application development and maintenance and infrastructure management, as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website:

Non-GAAP financial metrics used in this release: Constant currency growth, adjusted EBIT, net debt, net debt to capitalization ratio, bookings, book-to-bill ratio, backlog, DSO, ROIC, ROE and net earnings and diluted EPS excluding specific items.

CGI reports its financial results in accordance with IFRS. However, management believes that these non-GAAP measures provide useful information to investors regarding the Company’s financial condition and results of operations as they provide additional measures of its performance. Additional details for these non-GAAP measures can be found on page 2 and 3 of our MD&A which is posted on CGI’s website, and filed with SEDAR and EDGAR.

Forward-Looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are “forward-looking information” within the meaning of Canadian securities laws. These statements and this information represent CGI’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly evolving information technology industry; general economic and business conditions; foreign exchange and other risks identified or incorporated by reference in this press release, in CGI’s annual and/or quarterly Management’s Discussion and Analysis and in other public disclosure documents filed with the Canadian securities regulatory authorities (on SEDAR at and the U.S. Securities and Exchange Commission (on EDGAR at, as well as assumptions regarding the foregoing. The words “believe”, “estimate”, “expect”, “intend”, “anticipate”, “foresee”, “plan”, and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.

For more information:

Lorne Gorber
Executive Vice-President, Global Communications and Investor Relations
+1 514-841-3355