CGI has announced results for Q2 2021, for the period ending March 31, 2021.

Q2 FY 2021:

• Revenue was CDN$3,079m, down 1.7% y/y, down 1.7% y/y in CC
• EBIT is CDN$486.3m, a margin of 14.9%, up 134 bps y/y
• Adjusted EBIT is CDN$486m, a margin of 15.8%, up 37 bps y/y.

Q2 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$514m (-2.8%, -5.4% CC)
• U.S Commercial and State Government CDN$431m (-8.0%, -2.3% CC)
• Canada CDN$444m (+1.9%, +1.9% in CC)
• U.S. Federal CDN$400m (-4.1%, +1.9% CC)
• U.K and Australia   CDN$345m (+0.2%, -1.6 CC)
• Central and Eastern Europe CDN$337m (+8.8%, +5.9% CC)
• Scandinavia CDN$274m (-7.0%, -13.5% CC).
• Finland, Poland & Baltics CDN$198m (-1.6%, -4.3% in CC)
• Asia-Pacific CDN$166m (-1.3%, +4.7% CC).

Q2 FY 2021 adjusted EBIT margin by operating unit (and in the prior year quarter) is:

• Western and Southern Europe 14.5% (16.1%)
• U.S Commercial and State Government 14.3% (14.9%)
• Canada 22.1% (21.0%)
• U.S. Federal 14.0% (11.8%)
• U. .K and Australia   18.0% (15.5%)
• Central and Eastern Europe 10.7% (9.9%)
• Scandinavia 6.4% (8.3%)
• Finland, Poland & Baltics 14.2% (15.8%)
• Asia-Pacific 31.7% (28.2%)

Q2 FY 2021 revenue share by vertical (with NelsonHall estimated approximate revenue and y/y growth) is:

• Government 34% (~CDN$1,047m, -1.7%)
• Financial services 22% (~CDN$677m, +3.0%)
• Telecoms & utilities 14% (~CDN$431m, +5.9%)
• Manufacturing retail & distribution 24% (~CDN$739m, -5.6%)
• Healthcare 6% (~CDN$185m, -15.7%).

Q1 FY 2021 revenue mix by service type (with NelsonHall estimated approximate revenue and y/y growth) is:

• Consulting & systems integration 45% (~CDN$1,385m, -16.5%).
• IT outsourcing 55% (~CDN$1,693m, +15.1%)

Q2 FY 2021 bookings are CDN$3,892m (Q2 FY 2020: CDN$2,783m), a book-to-bill ratio of 112.6%.

Backlog at end Q2 FY 2021 is CDN$23,094m, up from CDN$22,769m at end Q1 FY 2021.