CGI has announced results for Q1 2022, for the period ending December 31, 2021.

Q1 FY 2022:

• Revenue was CDN$3,092.4m, up 2.4% y/y, up 6.8% y/y in CC
• EBIT is CDN$369.4m, a margin of 12.0%, up 57 bps y/y
• Adjusted EBIT is CDN$521.5m, a margin of 16.9%, up 84 bps y/y.

Q2 FY 2022 revenue breakdown by operating unit (and y/y revenue growth on an actual and constant currency basis) is:

• Western and Southern Europe CDN$514m (+6.9%, +15.2% CC)
• U.S Commercial and State Government CDN$483m (+10.8%, +14.5% CC)
• Canada CDN$466m (+8.3%, +8.3% in CC)
• U.S. Federal CDN$417m (+1.4%, +4.8% CC)
• U.K and Australia   CDN$298m (-8.9%, -7.7 CC)
• Central and Eastern Europe CDN$332m (+4.2%, +11.9% CC)
• Scandinavia CDN$245m (-10.8%, -5.8% CC).
• Finland, Poland & Baltics CDN$192m (-7.6%, -0.2% in CC)
• Asia-Pacific CDN$184m (+13.6%, +19.5% CC).

Q1 FY 2022 adjusted EBIT margin by operating unit (and in the prior year quarter) is:

• Western and Southern Europe 15.4% (13.8%)
• U.S Commercial and State Government 14.8% (15.4%)
• Canada 25.6% (23.0%)
• U.S. Federal 14.1%(13.4%)
• U. .K and Australia 15.8%(17.9%)
• Central and Eastern Europe 14.4%(13.2%)
• Scandinavia 5.6% (8.8%)
• Finland, Poland & Baltics 13.0% (14.9%)
• Asia-Pacific 32.1% (32.4%)

Q1 FY 2022 revenue share by vertical (with NelsonHall estimated approximate revenue and y/y growth) is:

• Government 34% (~CDN$1,051m, +5.5%)
• Financial services 22% (~CDN$680m, +2.4%)
• Telecoms & utilities 14% (~CDN$433m, +2.4%)
• Manufacturing retail & distribution 24% (~CDN$742m, +2.4%)
• Healthcare 6% (~CDN$186m, -12.2%).

Q1 FY 2022 revenue mix by service type (with NelsonHall estimated approximate revenue and y/y growth) is:

• Consulting & systems integration 55% (~CDN$1,701m, +25.2%).
• IT outsourcing 45% (~CDN$1,392m, -16.2%)

Q1 FY 2022 bookings are CDN$3,604m (Q1 FY 2020: CDN$3,397m), a book-to-bill ratio of 115.2%.

Backlog at end Q1 FY 2022 is CDN$23,577m, up from CDN$23,059m at end Q4 FY 2021.