CGI has announced results for Q1 2019, for the period ending December 31, 2018.

• Revenue was CDN$2,964m, up 5.2% y/y, up 4.5% y/y in CC
• EBIT is CDN$420m, a margin of 14.2%, up 208 bps y/y
• Adjusted EBIT is CDN$439.2m, a margin of 14.8%, up 39 bps y/y.

Q1 FY 2019 revenue breakdown by operating unit (and y/y revenue growth on an actual and constant currency basis) is:

• Western and Southern Europe CDN$511m (+5.5%, +4.9% CC)
• Northern Europe CDN$463m (-1.9%, -0.3% CC)
• Canada CDN$433m (+6.4%, +6.3% in CC)
• U.S Commercial and State Government CDN$434m (+7.4%, +3.4% CC)
• U.S. Federal CDN$384m (+7.0%, +2.9% CC)
• U.K. CDN$308m (+6.9%, +6.1% CC)
• Central and Eastern Europe CDN$280m (+15.3%, +14.5% in CC)
• Asia-Pacific CDN$151m (-5.4%, +5.7% CC).

Q1 FY 2019 adjusted EBIT margin by operating unit (and in the prior year quarter) is:

• Western and Southern Europe 13.9% (14.2%)
• Northern Europe 10.7% (9.4%)
• Canada 20.2% (21.5%)
• U.S Commercial and State Government 15.6% (15.0%)
• U.S. Federal 13.7% (13.5%)
• U.K. 15.8% (16.3%)
• Central and Eastern Europe 8.8% (7.6%)
• Asia-Pacific 25.3% (19.5%)

Q1 FY 2019 revenue share by vertical (with NelsonHall estimated approximate revenue and y/y growth) is:

• Government 32% (~CDN$948m, +9%)
• Financial services 22% (~CDN$652m, +4%)
• Telecoms & utilities 15% (~CDN$445m, +3%)
• Manufacturing retail & distribution 25% (~CDN$711m, +1%)
• Healthcare 6% (~CDN$207m, +5%).

Q1 FY 2019 revenue mix by service type (with NelsonHall estimated approximate revenue and y/y growth) is:

• Consulting & systems integration 53% (~CDN$1,571m, +7%)
• Outsourcing 47% (~CDN$1,393m, +3%).

Q4 FY 2018 bookings are CDN$3,031m (Q1 FY 2018: CDN$2,976m), a book-to-bill ratio of 116.3%.

Backlog at end Q1 FY 2018 is CDN$23,338m, up from CDN$22,577m at end Q3 FY 2018.