Mar 27, 2018

BRP LogoBRP went public approximately five years ago and the company has performed impressively since then outpacing many of their recreational products industry competitors. The company’s shares rose 9.5% on Wednesday as the company introduced stronger-than-expected earnings guidance for the coming fiscal year and also increased its dividend by 12% to 9 cents a share. Highlights for the year vs FY2017:

• Record revenues of $4,487 million, an 8% increase;
• Normalized EBITDA of $559 million, an 11% increase;
• Net income of $275 million resulting in a diluted earnings per share (EPS) of $2.54, an increase of 12% or $0.27 per share;
• Normalized net income of $257 million resulting in a normalized diluted EPS of $2.38, an increase of 21% or $0.42 per share;
• Returned $480M of capital to shareholders through share repurchases and the introduction of a quarterly dividend;
• Entered the trail SSV segment with the Can-Am Maverick Trail model, introduced a new Sea-Doo PWC platform and expanded the Ski-Doo and Lynx REV Gen4 snowmobile platform to more models;
• Relocated its North American sales office to Texas to be closer and better connected to the U.S.market, the largest for BRP; and
• Invested to increase the production capacity of its Juarez 2 and Queretaro manufacturing facilities to meet demand in Year-Round and Seasonal products.

On Wednesday, March 21, BRP Inc. reported its financial results for the three- and twelve-month periods ended January 31, 2018. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available at www.sedar.com.com, as well as in the Quarterly Reports section of BRP’s website.

“I am very pleased with our excellent year-end results; we set a strong growth objective and we surpassed it once again with record results,” said José Boisjoli, President and CEO. “Our plan was well-executed worldwide by our employees and yielded impressive results, in particular with our retail momentum that outpaced both the competition and the industries in all our markets.”

The results for the year, the strongest in BRP’s history, are partly based on the excellent worldwide momentum of its retail sales and the increased demand for its Can-Am side-by-side vehicles. For example, BRP’s global market share for this product has reached the #3 position in the past year, only seven years after our entry into the industry.

“Model year 2018 products, including two new Can-Am side-by-side platforms and a cutting-edge Sea-Doo platform, were well-received by our consumers, dealers and the media,” Boisjoli added. “We have also established a record year for accessory introductions, providing our consumers with the just-right parts, accessories and clothing, fully adapted and customized to their vehicle, to enhance their riding experience.”

“For fiscal year 2019, we continue to aim for high-paced growth from the Year-Round and Seasonal product categories. To this end, our planned increase in capacity in both Juarez 2 and Queretaro manufacturing facilities will be a key enabler,” Boisjoli concluded. “In the current economic environment, I am confident that we are well-positioned to deliver our fiscal year 2019 guidance that calls for 5 to 8% revenue growth as well as 20 to 25% normalized EPS growth.”

For additional details, readers can visit: http://www.brp.com/

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M&P MERCURY RECEIVES BOATING INDUSTRY CANADA’S EMPLOYER OF CHOICE AWARD FOR 2018

 

David Takahashi and PappajohnBob Pappajohn, the owner of M&P Mercury received Boating Industry Canada’s Employer of Choice Award for 2018 at the Vancouver International boat show. Boating BC’s annual general meeting (AGM) provided the backdrop for the award ceremony. This is the third year in a row that M&P Mercury has won the Employer of Choice Award in the Dealers/Marine category.

left - David Takahashi and Bob Pappajohn

Later at M&P’s display on the floor of BC Place, Greg Nicoll interviewed David Takahashi who was brought onboard to develop human resource programs for M&P Mercury.

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