Stock Market Symbols
GIB.A
(TSX)
GIB (NYSE)
www.cgi.com/newsroom
F2017 year-over-year highlights
- Revenue of $10.8 billion, up 4.3%
in constant currency;
- Adjusted EBIT of $1.6 billion, or
14.6% of revenue;
- Net earnings of $1.0 billion, or
9.5% of revenue;
- Net earnings excluding specific items* of $1.1 billion, or 10.2% of revenue;
- Diluted EPS of $3.41 or
$3.65 excluding specific items*;
- Bookings of $11.3 billion, or
104.1% of revenue; and,
- Cash provided by operating activities of $1.4 billion or 12.5% of revenue.
Q4-F2017 year-over-year highlights
- Revenue of $2.6 billion, up 2.5%
in constant currency;
- Adjusted EBIT of $395.8 million,
or 15.2% of revenue;
- Net earnings of $208.5 million,
or 8.0% of revenue;
- Net earnings excluding specific items* of $275.7 million, or 10.6% of revenue;
- Diluted EPS of $0.70 or
$0.93 excluding specific items*;
- Bookings of $2.9 billion, or
111.7% of revenue; and,
- Cash provided by operating activities of $352.1 million or 13.5% of revenue.
*Specific items in F2017 include: $65.3
million in restructuring costs and $6.5 million in acquisition-related and
integration costs net of tax.
Specific items in F2016 include: $21.2
million in restructuring costs net of tax and tax
adjustments of $8.5 million.
Specific items in Q4-F2017 include: $65.3
million in restructuring costs and $1.9 million in acquisition-related and
integration costs net of tax.
Note: All figures in Canadian dollars. Fiscal 2017 MD&A,
audited consolidated financial statements and accompanying notes
can be found at www.cgi.com/investors and have been filed
with both SEDAR in Canada and
EDGAR in the U.S.
To access the financial statements – click
here (PDF)
To access the MD&A - click here (PDF)
MONTRÉAL, Nov. 8, 2017
/PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB) reported revenue of
$10.8 billion for the fiscal year
ended September 30, 2017, up 1.5%
compared with the year ago period. On a constant currency basis,
revenue grew by 4.3% as foreign exchange fluctuations negatively
impacted revenue by $293.3
million.
Adjusted EBIT was $1.6 billion for
a margin of 14.6%, up $26.3 million
from F2016.
Net earnings were $1.0 billion,
representing $3.41 per diluted share.
Net earnings excluding specific items, were $1.1 billion representing $3.65 per diluted share, up 5.5% from
$3.46 last year.
For the year, the Company booked $11.3
billion in contract awards, bringing the book-to-bill for
the fiscal year to 104.1% of revenue.
The Company generated $1.4 billion
in cash from operations in F2017, or $4.48 per diluted share, an increase of
$25.5 million from the year ago
period.
"Around the world and across all industries, the digital needs
of customers and citizens are driving investments in technology
services across the enterprise," said George D. Schindler, President and Chief
Executive Officer. "As digital transforms expectations, CGI
consultants bring end-to-end services and solutions that help
clients adapt rapidly and effectively."
|
|
|
In millions of
Canadian dollars except earnings per share and
where noted
|
|
|
|
F2017
|
F2016
|
Revenue
|
10,845.1
|
10,683.3
|
Growth at constant
currency
|
4.3%
|
0.2%
|
Adjusted
EBIT
|
1,586.6
|
1,560.3
|
Margin
|
14.6%
|
14.6%
|
Net
earnings
|
1,035.2
|
1,068.7
|
Margin
|
9.5%
|
10.0%
|
Earnings per share
(diluted)
|
3.41
|
3.42
|
Net earnings
excluding specific items*
|
1,107.0
|
1,081.5
|
Margin
|
10.2%
|
10.1%
|
Earnings per share
(diluted) excluding specific items*
|
3.65
|
3.46
|
Weighted average
number of outstanding shares (diluted)
|
303.3
|
312.8
|
Net finance
costs
|
69.8
|
78.4
|
Net debt
|
1,749.4
|
1,333.3
|
Net debt to
capitalization ratio
|
21.5%
|
15.8%
|
Cash provided by
operating activities
|
1,358.6
|
1,333.1
|
Days sales
outstanding (DSO)
|
47
|
44
|
Return on invested
capital (ROIC)
|
13.7%
|
14.2%
|
Return on equity
(ROE)
|
16.1%
|
17.2%
|
Bookings
|
11,284.4
|
11,730.7
|
Backlog
|
20,812.7
|
20,893.2
|
|
*Specific items in F2017 include: $65.3 million in
restructuring costs and $6.5 million in acquisition-related and
integration costs net of tax.
|
Specific items in
F2016 include: $21.2 million in restructuring costs net of tax and
tax adjustments of $8.5 million.
|
At the end of F2017, the Company had $165.9 million in cash and $1.3 billion in unused credit facilities. Net
debt was $1.7 billion dollars,
compared to $1.3 billion in the year
ago period. As a result, the net debt to capitalization ratio
increased to 21.5% from 15.8%.
The Company invested a total of $1.2
billion throughout the year to repurchase 19.9 million
shares, at an average price of $62.55. Under the current Normal Course Issuer
Bid, an additional 7.4 million shares can be purchased for
cancellation before February 6,
2018.
Q4 Fiscal 2017 results
CGI reported fiscal 2017 fourth quarter revenue of $2.6 billion, up 1.0% compared with last year. On
a constant currency basis, revenue grew by 2.5% as foreign exchange
fluctuations negatively impacted revenue by $39.1 million.
Adjusted EBIT was $395.8 million
or 15.2% of revenue, stable from the year ago period.
Net earnings were $208.5 million
in Q4-F2017 and earnings per diluted share were 70 cents. Net earnings excluding specific items,
were $275.7 million representing
93 cents per diluted share, which
compares to $274.4 million or
89 cents last year.
The Company booked $2.9 billion in
contract awards or 111.7% of revenue, up $54.6 million from Q4-F2016. At the end of
September, the Company's backlog stood at $20.8 billion.
Cash generated from operating activities was $352.1 million or 13.5% of revenue, compared with
$401.8 million in the year ago
period.
|
|
|
In millions of
Canadian dollars except earnings per share and
where noted
|
|
|
|
Q4-F2017
|
Q4-F2016
|
Revenue
|
2,608.1
|
2,582.4
|
Growth at constant
currency
|
2.5%
|
2.8%
|
Adjusted
EBIT
|
395.8
|
395.1
|
Margin
|
15.2%
|
15.3%
|
Net
earnings
|
208.5
|
274.4
|
Margin
|
8.0%
|
10.6%
|
Earnings per share
(diluted)
|
0.70
|
0.89
|
Net earnings
excluding specific items*
|
275.7
|
274.4
|
Margin
|
10.6%
|
10.6%
|
Earnings per share
(diluted) excluding specific items*
|
0.93
|
0.89
|
Weighted average
number of outstanding shares (diluted)
|
297.6
|
309.6
|
Net finance
costs
|
16.6
|
17.6
|
Net debt
|
1,749.4
|
1,333.3
|
Net debt to
capitalization ratio
|
21.5%
|
15.8%
|
Cash provided by
operating activities
|
352.1
|
401.8
|
Days sales
outstanding (DSO)
|
47
|
44
|
Return on invested
capital (ROIC)
|
13.7%
|
14.2%
|
Return on equity
(ROE)
|
16.1%
|
17.2%
|
Bookings
|
2,912.9
|
2,858.3
|
Backlog
|
20,812.7
|
20,893.2
|
|
*Specific items in Q4-F2017 include: $65.3 million in
restructuring costs and $1.9 million in acquisition-related and
integration costs net of tax.
|
Conference call to discuss Q4 and Full-Year F2017
results
Management will host a conference call to discuss
results at 9 a.m. EST this morning.
Participants may access the call by dialing (800)-377-0758 or via
cgi.com/investors. Supporting slides for the call will also be
available. For those unable to participate on the live call, a
replay and downloadable podcast will remain available on
cgi.com/investors.
About CGI
Founded in 1976, CGI is the fifth largest
independent IT and business consulting services firm in the world.
With approximately 71,000 professionals worldwide, CGI delivers an
end-to-end portfolio of high-end IT and business consulting
services, systems integration and IT and business process
outsourcing services. CGI's client proximity model, best-fit global
delivery network, and intellectual property solutions help clients
accelerate results and digitally transform their organizations.
With annual revenue of C$10.8
billion, CGI shares are listed on the TSX (GIB.A) and the
NYSE (GIB). Website: www.cgi.com.
Non-GAAP financial metrics used in this release: Adjusted
EBIT, net debt, net debt to capitalization ratio, bookings,
book-to-bill ratio, backlog, DSO, ROIC, ROE, growth at constant
currency 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 www.sedar.com) and the U.S. Securities and Exchange Commission
(on EDGAR at www.sec.gov), 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.
SOURCE CGI Group Inc.