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CGI Inc. (TSX: GIB.A, NYSE: GIB) is a leading global IT and business consulting services firm headquartered in Montreal, Canada. Established in 1976, CGI has grown to become one of the largest independent firms of its kind, with a dedicated workforce of over 90,000 professionals across 40 countries. The company provides a comprehensive range of services including consulting, systems integration, application maintenance, and business process services.
CGI’s extensive portfolio is designed to help organizations digitally transform their operations to achieve better efficiencies and results. Its major sectors of operation include government, healthcare, financial services, telecommunications, and utilities, among others. Notably, the government sector contributes more than one-third of CGI’s annual revenue.
CGI recently secured several significant contracts, including a five-year $162 million partnership with the UK Government's Cabinet Office to enhance their digital, data, and technology services. Additionally, CGI is involved in the modernization of Los Angeles County's ERP systems and continues its collaboration with Market Operator Services Ltd (MOSL) in managing core water retail market platforms in England.
Financially, CGI reported a fiscal 2023 revenue of CA$14.30 billion, demonstrating stable growth with strong net earnings and cash generation. The company leverages a local relationship model supported by a global delivery network, positioning it to deliver tailored solutions and drive innovation across various industries.
Recent leadership changes include the appointment of François Boulanger as President and CEO, effective October 1, 2024, indicating a strategic focus on sustained growth and operational excellence. CGI continues to enhance shareholder value through strong profitability, cash generation, and strategic share repurchases.
CGI's future outlook includes executing its
CGI (NYSE: GIB) has been awarded the Solutions for the Information Technology Enterprise (SITE) III IDIQ contract by the Department of Defense's Defense Intelligence Agency (DIA). This contract, lasting 10 years with a ceiling of $12.6 billion, aims to enhance IT mission support across various security domains. The initiative focuses on improving integration, information sharing, and safeguarding through advanced technology management and services. CGI's President, Stephanie Mango, emphasized the company's capability in providing innovative IT solutions vital for national security.
CGI (NYSE: GIB) has been awarded a significant contract by Hansel Ltd., the Finnish Government's procurement unit, to provide data center and hybrid IT services for the public sector. This eight-year framework agreement is valued at approximately 384 million euros (CA $576M) and will benefit various ministries and government organizations. CGI aims to enhance digital public services in Finland, leveraging its extensive experience and advanced technologies in service delivery. The company continues to expand its footprint in the public sector with this strategic partnership.
CGI (NYSE: GIB) has announced its acquisition of Sense Corp, a professional services firm specializing in digital systems integration for government and commercial clients. This move enhances CGI's presence in Texas and St. Louis, adding 300 skilled consultants to its workforce. The transaction aligns with CGI's growth strategy, aiming to expand its consulting services and digital capabilities. The deal is expected to close in early May 2021, marking a significant step in CGI's efforts to meet the increasing demand for IT and business consulting solutions.
CGI reported a strong Q2-F2021 with $3.08 billion in revenue, an 8.4% increase in net earnings to $341.2 million, and diluted EPS of $1.34, which rose 13.6% year-over-year. Bookings jumped 40% to $3.89 billion, resulting in a book-to-bill ratio of 126%. Adjusted EBIT reached $486.3 million, marking a margin improvement to 15.8%. Operating cash flow rose 44.4% to $572.6 million. CGI maintains a strategic focus on growth, backed by a $2.85 billion liquidity position.
CGI (NYSE: GIB) will announce its second quarter fiscal year 2021 results on April 28, 2021, prior to market opening. The press release highlights that the results for the quarter ending March 31, 2021, will be discussed in a conference call at 9:00 a.m. EDT. Key executives, including CEO George D. Schindler and CFO François Boulanger, will lead the call. In fiscal 2020, CGI reported revenues of C$12.16 billion, showcasing its position as a leading IT and business consulting firm.
CGI's IT Delivery Center in Troy, Alabama celebrates its 10-year anniversary, emphasizing a decade of collaboration with local partners, including the state and educational institutions. Employing over 285 local professionals, CGI has become a significant community contributor and job provider. The center focuses on corporate social responsibility, contributing financially to local organizations and fostering STEM education among students. The Troy center is one of eight in the U.S., reflecting CGI's commitment to growth in the region and its strategic role in the company's global operations.
On April 20, 2021, CGI (NYSE: GIB) was honored with the Leader in Trade Award for Resiliency in the Fintech category by Global Trade Review (GTR). This recognition highlights CGI's excellence in trade and supply chain solutions, particularly during the challenges posed by the pandemic. CGI's Trade360 platform enabled banks to continue operations remotely, showcasing its adaptability. With a reported revenue of C$12.16 billion for fiscal 2020, CGI remains a significant player in the global IT consulting sector.
CGI (NYSE: GIB) has been chosen by the Federal Reserve Bank to join the FedNow Service pilot program, which aims to develop a real-time payments infrastructure. CGI will assist Vantage Bank Texas in delivering real-time payment solutions using CGI All Payments. This participation will allow CGI and its partners to shape the service's features, ensuring a smooth transition for banks adopting the technology. The CGI All Payments platform facilitates quick deployment for banks and enhances payment processing efficiency.
On March 23, 2021, CGI (NYSE: GIB) announced the creation of 600 jobs at its U.S. Delivery Center in Lafayette, Louisiana, surpassing its original commitment made during the center's 2014 opening. The company aims to reach a total of 800 jobs by 2023. CGI's cumulative payroll in Lafayette exceeds commitments by $40 million, projecting a total of over $480 million over the next decade. The center has engaged local graduates and professionals, enhancing the region’s economy. CGI’s community initiatives and educational partnerships further contribute to workforce development in Louisiana.
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