CGI has announced results for Q3 2021, for the period ending June 30, 2021.

Q3 FY 2021:

• Revenue was CDN$3,021m, down 1.0% y/y, up 3.5% y/y in CC
• EBIT is CDN$477m, a margin of 15.9%, up 110 bps y/y
• Adjusted EBIT is CDN$450m, a margin of 14.9%, up 320 bps y/y.

Q3 FY 2021 revenue breakdown by operating unit (and y/y revenue growth on an actual and constant currency basis) is:

• Western and Southern Europe CDN$500m (+9.7%, +12.8% CC)
• U.S Commercial and State Government CDN$448m (-7.9%, +3.7% CC)
• Canada CDN$444m (+6.1%, +6.1% in CC)
• U.S. Federal CDN$400m (-12.0%, -0.7% CC)
• U.K and Australia   CDN$389m (-3.2%, -3.2 CC)
• Central and Eastern Europe CDN$330m (+9.2%, +12.1% CC)
• Scandinavia CDN$260m (-4.7%, -6.7% CC).
• Finland, Poland & Baltics CDN$188m (-5.0%, -2.1% in CC)
• Asia-Pacific CDN$170m (-2.1%, +6.6% CC).

Q3 FY 2021 adjusted EBIT margin by operating unit (and in the prior year quarter) is:

• Western and Southern Europe 13.0% (10.0%)
• U.S Commercial and State Government 16.6% (19.0%)
• Canada 22.9% (21.0%)
• U.S. Federal 18.6% (13.2%)
• U. .K and Australia   13.0% (17.3%)
• Central and Eastern Europe 9.2% (7.5%)
• Scandinavia 5.2% (0.6%)
• Finland, Poland & Baltics 13.7% (13.3%)
• Asia-Pacific 30.0% (31.5%)

Q3 FY 2021 revenue share by vertical (with NelsonHall estimated approximate revenue and y/y growth) is:

• Government 34% (~CDN$1,027m, -3.9%)
• Financial services 22% (~CDN$665m, -1.0%)
• Telecoms & utilities 14% (~CDN$423m, -1.0%)
• Manufacturing retail & distribution 24% (~CDN$725m, +8.0%)
• Healthcare 6% (~CDN$181m, -15.2%).

Q3 FY 2021 revenue mix by service type (with NelsonHall estimated approximate revenue and y/y growth) is:

• Consulting & systems integration 45% (~CDN$1,360m, -3.2%).
• IT outsourcing 55% (~CDN$1,662m, +0.8%)

Q3 FY 2021 bookings are CDN$3,634m (Q3 FY 2020: CDN$2,841m), a book-to-bill ratio of 119.5%.

Backlog at end Q3 FY 2021 is CDN$23,345m, up from CDN$23,094m in Q2 FY 2021.