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The model year 2017 Can-Am Defender MAX six-passenger vehicle was announced on March 29, 2016. © BRP 2016
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Valcourt, Québec, June 9, 2016 – BRP Inc. (TSX:DOO) today reported its financial results for the three-month period ended April 30, 2016. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available at www.sedar.com.
“Our financial results for the first quarter were delivered in line with our expectations and are consistent with our outlook,” said José Boisjoli, president and CEO. “We had solid retail momentum worldwide in the first quarter of fiscal year 2017, where we significantly outpaced the industry. We also recorded the highest North American market share in Ski-Doo snowmobile retail sales during the 2016 season ended in March.”
In closing, Boisjoli added: “The BRP team is aligned in its focus on our strategic priorities of growth, agility and Lean enterprise, our R&D projects are on track and we have exciting product introductions coming up in the next few months. I consider that we are currently in an excellent position and confident that we will achieve our guidance.”
Highlights for the Three-Month Period Ended April 30, 2016
Revenues increased by $31.8 million, or 3.5%, to $929.9 million for the three-month period ended April 30, 2016, compared with $898.1 million for the corresponding period ended April 30, 2015. The revenue increase was attributable to a favourable foreign exchange rate variation of $40 million mainly due to the strengthening of the U.S. dollar and the euro against the Canadian dollar.
Year-Round Products Revenues from Year-Round Products increased by $2.1 million, or 0.5%, to $400.2 million for the three-month period ended April 30, 2016, compared with $398.1 million for the corresponding period ended April 30, 2015. The increase was primarily attributable to a higher wholesale in ATV, a favourable product mix in roadsters and a favourable foreign exchange rate variation of $16 million. The increase was mostly offset by lower wholesale in roadsters.
Seasonal Products Revenues from Seasonal Products increased by $15.6 million, or 5.8%, to $286.8 million for the three-month period ended April 30, 2016, compared with $271.2 million for the corresponding period ended April 30, 2015. The increase resulted primarily from a higher volume and a favourable mix of PWC sold and from a favourable foreign exchange rate variation of $12 million. The increase was partially offset by additional sales program costs for snowmobile in North America as a result of poor snow conditions and an economic slowdown experienced in Western Canada.
Propulsion Systems Revenues from Propulsion Systems increased by $8.6 million, or 8.4%, to $111.1 million for the three-month period ended April 30, 2016, compared with $102.5 million for the corresponding period ended April 30, 2015. The increase in revenues was primarily attributable to a favourable foreign exchange rate variation of $6 million and to a higher volume of aircraft engines sold.
PAC (Parts, Accessories, Clothing and other services) Revenues from PAC increased by $5.5 million, or 4.4%, to $131.8 million for the three-month period ended April 30, 2016, compared with $126.3 million for the corresponding period ended April 30, 2015. The increase was mainly attributable to a favourable foreign exchange rate variation of $6 million and a higher volume of ATV and SSV PAC sold. The increase was partially offset by a lower volume of snowmobile PAC sold resulting from poor snow conditions. |
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