September 27, 2016 8:46 PM ET

Leisure Products

Company Overview of BRP Inc.

Company Overview

BRP Inc., together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and propulsion systems worldwide. The company offers all-terrain vehicles, side-by-side vehicles, and roadsters under the Can-Am brand name; roadsters under the Spyder brand; snowmobiles under the Ski-Doo and Lynx brands; personal watercrafts under the Sea-Doo brand name; and propulsion systems comprising outboard marine engines under the Evinrude brand name, as well as engines for jet boats, karts, motorcycles, and recreational aircraft under the Rotax brand name. It also provides parts, accessories, and complementary clothing, as well as other services. The company sells...

726 Saint-Joseph Street

Valcourt, QC J0E 2L0

Canada

Founded in 1937

7,900 Employees

Key Executives for BRP Inc.

Chief Executive Officer, President, Director and Member of Investment & Risk Committee
Age: 58
Total Annual Compensation: C$981.3K
Chief Financial Officer
Age: 44
Total Annual Compensation: C$400.0K
Senior Vice-President of Design, Innovation and Corporate Image
Age: 55
Total Annual Compensation: C$313.3K
Senior Vice President of Global Brand, Communications and Parts, Accessories & Clothing
Age: 53
Total Annual Compensation: C$341.7K
Vice President and General Manager of Marine Propulsion Systems Division
Age: 54
Total Annual Compensation: C$585.9K
Compensation as of Fiscal Year 2016.

BRP Inc. Key Developments

BRP Inc. - Analyst/Investor Day

BRP Inc. - Analyst/Investor Day

BRP Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 31, 2016; Provides Earnings Guidance for the Fiscal Year 2017

BRP Inc. reported earnings results for the second quarter and six months ended July 31, 2016. For the quarter, the company reported total revenue of CAD 856.1 million against CAD 812.1 million a year ago. The revenue increase was mainly due to higher wholesale in Year-Round Products and to a favorable foreign exchange rate variation of CAD 20 million related largely to the strengthening of the U.S. dollar and the euro against the Canadian dollar. Operating loss was CAD 30.6 million against operating income of CAD 22.3 million a year ago. Loss before income taxes was CAD 85.0 million against CAD 64.3 million a year ago. Net loss attributable to shareholders was CAD 68.9 million or CAD 0.61 per basic and diluted share against CAD 68.3 million or CAD 0.58 per basic and diluted share a year ago. Normalized EBITDA was CAD 44.4 million against CAD 53.1 million a year ago. Normalized net income was CAD 1.0 million or CAD 0.01 per basic and diluted share against CAD 4.0 million or CAD 0.03 per basic and diluted share a year ago. For the six months, the company reported total revenue of CAD 1,786.0 million against CAD 1,710.2 million a year ago. The revenue increase was primarily attributable to a favorable foreign exchange rate variation of CAD 60 million mainly due to the strengthening of the U.S. dollar and the euro against the Canadian dollar and to higher wholesale of Seasonal Products. Operating loss was CAD 24.1 million against operating income of CAD 86.1 million a year ago. Income before income taxes was CAD 25.6 million against CAD 31.7 million a year ago. Net income attributable to shareholders was CAD 41.9 million or CAD 0.37 per basic and diluted share against CAD 14.8 million or CAD 0.12 per diluted share a year ago. Normalized EBITDA was CAD 101.5 million against CAD 144.6 million a year ago. Normalized net income was CAD 5.8 million or CAD 0.05 per basic and diluted share against CAD 41.2 million or CAD 0.35 per basic and diluted share a year ago. For the fiscal year 2017, the company expects total company revenues up 4% to 8% on fiscal year 2016 results, normalized EBITDA up 7% to 10% on fiscal year 2016 results, effective tax rate to be from 27% - 28%, normalized net income up 3% to 9% on fiscal year 2016 results, normalized earnings per share – diluted to be from CAD 1.82 to CAD 1.92 and capital expenditures to be from CAD 190 million to CAD 205 million.

BRP Announces Management Changes

BRP announced a reorganization of the general management of its Global Sales and Consumer Experience division as well as a new organizational structure for the management of its activities in Europe. Sandy Scullion is appointed vice-president and general manager, BRP Global Sales and Consumer Experience. Mr. Scullion is now a member of the company's Management Committee and will report to José Boisjoli, BRP's president and chief executive officer. Scullion has worked for BRP for over 20 years and has extensive experience in the North American and European markets of the recreational industry. Since 2014, he has been the vice-president and regional manager responsible for all BRP activities in Western Europe, the Middle East and Africa. In light of this appointment, BRP announced a new organizational structure for the management of its activities in Europe. This structure is intended to strengthen BRP's presence throughout the entire European region, increase operational efficiency and take advantage of synergies arising from the consolidation of activities. The Scandinavia, Eastern Europe and Russia regions will now be grouped with the Western Europe, Middle East and Africa regions. Steve Pelletier becomes vice-president and regional manager of the new region. Mr. Pelletier has worked for BRP since 2004 and was previously the vice-president of Finance for BRP's Global Sales and Consumer Experience division. This consolidation also brings changes to Lynx snowmobile production management in Rovaniemi, Finland. Thomas Uhr, vice-president, BRP-Powertrain and general manager, BRP-Rotax, will oversee all manufacturing and engineering operations for Europe, including those activities based in Rovaniemi and in Gunskirchen, Austria.

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Recent Private Companies Transactions

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Date
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March 18, 2016
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