Who we are
Executive Letters
Financial Highlights
Strategy
Corporate Responsibility
Leadership

Igniting
Transformation

2019 Annual Review

Alithya is a leader in strategy and digital transformation, with 2,000 professionals in Canada, the US and Europe. Combining technology acumen with a customer-driven approach, we have been deploying for over 25 years leading-edge solutions, services and skillsets to craft highly specialized tools, tailored to our clients’ unique business needs.

Vision

Be recognized as a trusted advisor with solid expertise in strategy and digital technology

Mission

Advise, guide and support our clients in their pursuit of innovation, excellence and the achievement of their business objectives through the optimal use of technologies

Values

Creativity
Trust
Respect
Passion
Integrity
Well-being

TSX: ALYA
NASDAQ: ALYA

Worldwide expansion

Canada
0
Provinces
0
Professionals
Europe
0
Locations
0
Professionals
United States
0
States
0
Professionals

Guiding our clients
In their digital transformation

Business
Strategy
Application
Services
Enterprise
Solutions
Data and
Analytics

Business Sectors

Financial
Services
Manufacturing
Energy
Transportation
and Logistics
Telecommunications
Healthcare
Professional
Services
Government

MESSAGE FROM
THE PRESIDENT
AND CEO

Measured transformation

Dear customers, professionals, shareholders, and partners,

It is with great pride that I address you today in this first annual review of Alithya as a public company. This milestone is the result of a vision first laid out 8 years ago, and the disciplined execution of our plan to become a leader in digital transformation.

Paul Raymond
President and CEO
Our vision is to be our customers’ number one strategy and technological advisor – the partner they always call first. And the only way to get there is to grow. 
Since 1992, the expertise and commitment of Alithya’s professionals has made them privileged partners of Desjardins. Whether addressing the evolution, development, or modernization of our digital technologies, they provide us with valuable advice and exceptional proactive service. Working from inside of our offices, or remotely from their Digital Solutions Center, their agile approach is tailored to today’s realities.
- Chadi Habib, Executive Vice President, Information Technology, Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fifth largest in the world. To meet the needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada.

MESSAGE FROM
THE CHAIRMAN
OF THE BOARD

The last year has represented a crossroads in the history of Alithya. The transformational acquisition we made that opened the US market to us as well as the entry on both the TSX and NASDAQ have propelled us in a new phase of our journey. All this afford us the scale and scope to better serve our customers and create new opportunities for our professionals. And clearly paves the way for our goal of being a high-value digital transformation leader.

Pierre Turcotte
Chairman of the Board
We have deep synergies around the table, and our members’ combined experience with publicly traded firms will bolster our credibility and performance moving forward. 
Alithya offers us peace of mind. By providing support services to our Oracle and Microsoft systems and databases, the Alithya team ensures maximum availability of our infrastructures, while providing sound advice that further contributes to operational optimization. That gives us greater agility, while also providing us with access to experts who have developed best practices in the continuous management of these valuable technological assets.
- Joël Denis, Director, Application Support & Development, Agropur Cooperative
Agropur Cooperative is a North American dairy industry leader with sales of $6.7 billion in 2018. Agropur processes billions of litres of milk per year at its 39 plants across North America and boasts an impressive roster of brands and products.

Results over the
last three years

Revenues (C$M)
Gross Margin (%)
Adjusted EBITDA* (C$M)
Geographic Revenues** (%)

*Non-IFRS measures. For details, please refer to Alithya’s Management and Discussion Analysis.
**Fourth quarter 2019

A PROVEN GROWTH
STRATEGY

A recognized consolidator with a successful integration history
of more than 25 acquisitions, as well as strong organic growth

CREATION PHASE
11 professionals

Origin of the company

1992
DIVERSIFICATION PHASE
200 professionals

Management Buy-out

2011

Sinapse Acquisition (Public sector experience)

+ 200 employees

2012
1,000 professionals

Acquisition of TELUS professional services and of OSI Consulting Group (IT and recruitment capacity)

+ 300 employees

2015

Pro20 Acquisition (Oracle expertise)

+ 75 employees

2016
1,000 professionals

SWI Acquisition (Energy, Finance, BI and Analytics Expertise)

+ 160 Employees

2017
Consolidation & Acceleration phase

Acquisition of Edgewater, i.e. Fullscope and Ranzal (Microsoft and Oracle expertise)

+ 400 employees

Acquisition of Telus’ Managed Web Services activities

2018/2019

OUR STRATEGIC
FRAMEWORK

Best-in-class
experts
Ideal size
with integrated
offerings
Judicious
positioning
in the
value chain
Strategic
geographic
presence
Alithya demonstrates passion and a positive attitude towards their work. Their questioning approach has helped them to understand our business objectives and to develop the best solution for us. It has been a pleasure to work together; the team dynamic and our collaboration have allowed us to be effective in driving measurable results.
- David Eddie, Section Manager, Analytics & Solutions, Bruce Power
Bruce Power is Canada’s first private nuclear generator, providing 30% of Ontario’s power. It delivers clean, reliable, low-cost nuclear power to families and businesses across the province.

Becoming a North-American
digital transformation leader

Our 3-5 year strategic plan

Increasing scale through organic growth and strategic acquisitions
  • Sustained organic growth through innovation, higher-value offerings and client-relationships based on trust
  • Strategic acquisitions by way of a North-America geographic expansion to complement current market presence, while progressively adding major integrated enterprise solutions offerings and selected specialized expertise
Achieving best-in-class employee engagement
  • Fostering a culture of collaboration and ownership
  • Cultivating employee well-being and personal growth
  • Investing in the development of our leaders and employees
Providing our investors, partners and stakeholders with long-term growing return on investment
  • Strengthening our existing relationships with clients, as a key trusted advisor, by generating long-term value
  • Investing in innovation and higher value service offerings
  • Act responsibly, with a sustainable and respectful vision for our stakeholders

WHY INVEST
IN ALITHYA?

  • 1Proven industry consolidator
    in highly fragmented market
  • 2Short-term synergies and cross-selling
    with Edgewater acquisition
  • 3Expanded geographic
    presence in the US
  • 4Operating within faster growing
    segments of the overall IT sector
  • 5Solid financial position
  • 6Experienced executive team
For over 15 years, Alithya’s team has been assisting with METRO’s projects in the technology sector. Alithya is an invaluable ally for our company thanks to their in-depth understanding of our operations and their clear desire to propose solutions and formulas that are truly adapted to our reality. What really sets them apart is their commitment to doing whatever it takes every day to help ensure the success of each project. And whenever required, they do so with creativity and boldness.
- Frédéric Legault, Vice President, Information Systems, METRO
METRO is a food and pharmacy leader in Quebec and Ontario, Canada. As a retailer, franchisor, distributor, and manufacturer, the company operates or services a network of more than 600 food stores under several banners.

CORPORATE
RESPONSIBILITY

Since our founding in 1992, ethics, customer satisfaction, employee input, sound management practices and tangible involvement in the communities that we serve have been at the heart of Alithya’s corporate culture. This approach, instilled by our founders, has integrated into all facets of the company and today forms part of our brand personality.

The plan on which the company embarked in 2011 has not altered our commitment to being a good corporate citizen. To the contrary, the announced plan to enter the public market has led to the progressive establishment of governance aligned with Alithya’s core ambition, which is to become a North American leader in digital transformation.

Corporate Governance

  • Diverse Board of Directors comprised of nine individuals, including eight independent members, highly qualified to manage issues specific to Alithya
  • A solid framework strengthened by governance policies and numerous certifications

Employees

  • Priority given to professional development, particularly through the Alithya Leadership Academy
  • Stock Purchase Program implemented even before the company went public

Community

  • Corporate and employee involvement in numerous causes, particularly in terms of training the next generation in technologies

Environment

  • Firm commitment to a proactive approach to further reduce the impact of our operations
  • Contribution to the reduction of client energy consumption through transition to cloud solutions, considered to be less energy-consuming than traditional infrastructures.
We partnered with Alithya to help with our significant business transformation project because they have deep industry knowledge, coupled with industry-specific tools like ChemXpress, which will help our subsidiaries have consistent deployments focused on industry best practices.
- Mark Rankin, Vice President, IT, RPM Specialty Products Group, RPM International Inc.
RPM International Inc. is a multi-billion-dollar company that owns subsidiaries that manufacture and market high-performance coatings, sealants and specialty chemicals.

A SOLID
MANAGEMENT TEAM

Nathalie Forcier
Chief Legal Officer & Corporate Secretary
Senior legal executive who held positions for large international publicly-traded services, technology and IT firms, and with a national law firm.
Robert Lamarre
Chief Information Officer
Seasoned executive in the digital industry, in the integration of acquisitions, the management of real estate portfolios and procurement processes.
Natalie Piccinin
Senior Vice President, Human Capital
Human Resource executive with a solid background in organizational efficiency, talent and performance management, as well as employee engagement for several companies.
Paul Raymond
President and CEO
A former officer in the Canadian Armed Forces and an accomplished executive who held several key senior management positions in a major IT firm, namely as leader of their US North-Eastern operations.
Claude Rousseau
Chief Operating Officer
Senior executive with extensive experience and expertise in overseeing large firms' business operations in sectors such as information technology and telecommunications.
Claude Thibault
Chief Financial Officer
Experienced executive who served as CFO for a variety of companies, both private and publicly traded, operating in Canada and the US.

A SEASONED BOARD
OF DIRECTORS

Dana Adès-Landy
Director
Robert Comeau
Director and Chair of the Audit and Risk Management Committee
François Côté
Lead director and Chair of the Corporate Governance, Nominating and Compensation Committee
Fred Disanto
Director
Paul Raymond
President and CEO
Ghyslain Rivard
Director
Jeffrey Rutherford
Director
C. Lee Thomas
Director
Pierre Turcotte
Chair of the Board
Nalcor Energy utilizes specialized software to efficiently coordinate the work performed within our plants, and to ensure the overall safety of staff and equipment. Alithya is knowledgeable, dependable and very responsive. They consistently come through for us whenever we need help to resolve issues that directly impact day-to-day plant operations.
- Ron Tobin, Work Protection Specialist, Newfoundland and Labrador Hydro,
a Nalcor Energy company
Nalcor Energy is a diverse energy company committed to power industrial,
utility and direct customers in Newfoundland and Labrador.

Forward-looking statements

Certain statements contained herein may constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other applicable U.S. safe harbours (collectively “forward-looking statements”). Statements that do not exclusively relate to historical facts, as well as statements relating to management’s expectations regarding the future growth, results of operations, performance and business prospects of Alithya, and other information related to Alithya’s business strategy and future plans or which refer to the characterizations of future events or circumstances represent forward-looking statements. Forward-looking statements are presented for the sole purpose of assisting investors and others in understanding Alithya’s objectives, strategies and business outlook as well as its anticipated operating environment and may not be appropriate for other purposes. Although management believes the expectations reflected in Alithya’s forward-looking statements were reasonable as at the date they were made, forward-looking statements are based on the opinions, assumptions and estimates of management and, as such, are subject to a variety of risks and uncertainties and other factors, many of which are beyond Alithya’s control, and which could cause actual events or results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include but are not limited to those discussed in Alithya’s annual Management’s Discussion and Analysis for the year ended March 31, 2019 and other materials made public, including documents filed with Canadian and U.S. securities regulatory authorities from time to time and which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Forward-looking statements contained herein are qualified by these cautionary statements and are made only as of the date of Alithya’s annual Management’s Discussion and Analysis for the year ended March 31, 2019. Alithya expressly disclaims any obligation to update or alter forward-looking statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by applicable law.

Certain measures disclosed herein have also not been prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. These measures should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with IFRS. Please refer to Alithya’s Management’s Discussion and Analysis for the year ended March 31, 2019 for further details.