CGI reports strong 4th quarter and Fiscal 2022 results.

MONTREAL: CGI (TSX: GIB.A) (NYSE: GIB)

Q4-F2022 results

"I am very pleased with our team's performance in the fourth quarter, delivering double-digit increases in both constant currency revenue and EPS through the successful execution of our build and buy profitable growth strategy" said George D. Schindler, President and Chief Executive Officer. "Notably, CGI's 90,000 talented consultants met our stakeholders' expectations to deepen relationships, win new engagements, and--also on a full fiscal year 2022 basis, deliver year-over-year double digit increases in both constant currency revenue and EPS. Looking ahead, the seemingly never-ending digitization race continues to drive demand, particularly as clients navigate an increasingly dynamic environment. CGI remains well positioned to partner with clients on a wide range of business and technology objectives through our suite of end-to-end digital services and solutions, as well as participate in market consolidation."

For the fourth quarter of fiscal 2022, the Company reported revenue of $3.25 billion, representing a year-over-year increase of 8.0%. Revenue grew by 13.9% year-over-year, when excluding $177.9 million of unfavorable foreign currency impact.

As at the end of the quarter, the number of CGI worldwide consultants and professionals had increased to 90,000, representing a year-over-year increase of 12.5%.

Adjusted EBIT was $521.7 million, up 5.7% year-over-year, with an EBIT margin of 16.1% representing a decrease of 30 basis points from 16.4% for the same period last year, primarily due to the temporary dilutive impact of recent larger acquisitions which are in the process of being fully integrated.

For the three months ended September 30, 2022, our effective tax rate remained relatively stable, reducing from 25.5% to 25.4% when compared to the same quarter last year.

Net earnings were $362.4 million, up 4.7% compared with the same period last year, for a margin of 11.2%. Diluted earnings per share, as a result, were $1.51 compared to $1.39 last year, representing an increase of 8.6%.

Net earnings were $373.1 million, when excluding acquisition-related and integration costs, net of tax. This represents an increase of 7.6% year-over-year and a margin of 11.5%. On the same basis, diluted earnings per share increased by 11.4% to $1.56, up from $1.40 for the same period last year.

Bookings were $3.64 billion, up $715.7 million on a year-over-year basis, representing a book-to-bill...