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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 launched a refreshed brand identity to mark its 45th anniversary, emphasizing its commitment to helping clients leverage technology for value creation. The updated tagline, Insights you can act on, reflects CGI's extensive industry knowledge and collaborative approach. This brand refresh coincides with the annual Voice of Our Clients initiative, which has gathered insights from over 6,775 conversations, representing organizations with a collective revenue of C$9 trillion. CGI aims to assist clients in navigating post-pandemic business priorities through informed strategic decisions.
CGI will host its Annual General Meeting on January 27, 2021, and release its fiscal 2021 first quarter results on the same day. Shareholders can participate online and vote, as in-person attendance is not permitted. The fiscal results will reflect the performance for the quarter ended December 31, 2020. The conference call for discussing the results will begin at 9:00 a.m. (EST). CGI reported revenue of C$12.16 billion for fiscal 2020, positioning itself as a leading IT and business consulting services firm globally.
CGI (NYSE: GIB, TSX: GIB.A) announced that Vantage Bank Texas has successfully implemented CGI All Payments as part of its digital transformation strategy. This solution replaces legacy FedWire and ACH systems, facilitating real-time payments and enhancing operational efficiency. The project was executed in just four months, enabling Vantage Bank to better meet customer expectations and future-proof its payment systems. CGI All Payments aims to reduce transaction costs and improve service availability while ensuring security through Microsoft Azure.
CGI (NYSE: GIB) has been awarded a prime contractor position by the U.S. Department of State for the Global Support Strategy for Overseas Consular Support Services 2.0 (GSS 2.0) contract, valued at a ceiling of $3.3 billion over a 10-year period. This contract includes a base year and nine option years, focusing on enhancing visa application processes at U.S. embassies and consulates worldwide. CGI will utilize its Atlas360 solution to improve customer service and operational efficiency within the Bureau of Consular Affairs.
CGI (NYSE: GIB; TSX: GIB.A) has acquired the Professional Services Division of Harris, Mackessy & Brennan, Inc., enhancing its technology consulting services for commercial and government clients. The deal, finalized on December 31, 2020, adds 165 skilled consultants and a deep client portfolio in Central Ohio, particularly in Columbus. This strategic move aligns with CGI's build-and-buy strategy aimed at strengthening its position in the U.S. market.
CGI has filed its Management Proxy Circular for the Annual General Meeting of Shareholders scheduled for January 27, 2021. In conjunction with this, CGI submitted its 2020 Annual Information Form and Fiscal 2020 Results to securities regulators in Canada and the U.S. The electronic versions of these documents are available on CGI's investor website. The company employs approximately 76,000 professionals globally and reported a fiscal 2020 revenue of C$12.16 billion.
The UK Ministry of Defence (MOD) has selected CGI (NYSE: GIB) as a key supplier for the CORTISONE programme, aiming to migrate healthcare services to a secure cloud environment. This initiative will enhance the medical capabilities of the UK Armed Forces by integrating with the NHS and allowing access to various commercial off-the-shelf medical applications. CGI has a longstanding partnership with the MOD, delivering secure IT systems for over 40 years. The company reported fiscal 2020 revenue of C$12.16 billion.
CGI reported Q4-F2020 revenue of $2.93 billion, a 1.1% decline year-over-year. Adjusted EBIT stood at $457.6 million, unchanged from last year, with a margin of 15.6%. Net earnings were $251.9 million (down 22.3%), leading to a diluted EPS of $0.96. Full-year revenue reached $12.16 billion, improving slightly by 0.4%. Bookings were notably strong at $3.47 billion in Q4, a book-to-bill ratio of 118.8%, and the backlog remains robust at $22.67 billion.
CGI (GIB) is set to announce its fourth quarter and fiscal year 2020 results on November 11, 2020, before market opening. The conference call will take place at 9:00 a.m. EST, featuring insights from CEO George D. Schindler and CFO François Boulanger. Investors can access a live webcast and an archived replay on CGI's Investor Relations website. The firm, a leading IT consulting services provider, reported revenue of C$12.1 billion for fiscal 2019 and employs over 77,500 professionals globally.
CGI (TSX: GIB.A) (NYSE: GIB) will release its fourth quarter and fiscal year 2020 results on November 11, 2020, before market opening. A conference call, led by President and CEO George D. Schindler and CFO François Boulanger, is scheduled for 9:00 a.m. (EST) to discuss the results. CGI, a leader in IT and business consulting services, reported C$12.1 billion in revenue for fiscal 2019. Investors can access the call via a live webcast on the company’s IR page, with a replay available later.
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