BRP Earnings Call Highlights – FY 2014 Q2

The Can Am Maverick Side-by-Side helped drive quarterly sales growth for BRP

BRP, manufacturer of Can Am side-by-sides and other products recently reported its financial results for the three and six-month periods ended July 31, 2013. What follows are some of the highlights with a focus on utility vehicles.

  • Revenues excluding sport boat figures increased to $620.9 CAN compared to $583.1 for the same quarter last year
  • Revenue for the quarter are up 6.5% in year over year comparison excluding sport boat sales.
  • Growth, in part, was driven by sales of the Maverick side-by-side
  • International sales up 14% with the off road vehicle segment which includes ATVs and side-by-sides up 35%
  • Solid performance for side-by-sides in Europe, Australia and Latin America.
  • 35 to 40 new dealers in North America this year
  • North America side-by-side industry grew mid double digit with BRP growing more than 30% in the 2013 season ending june 30 with a particularly strong 2nd quarter
  • 50% growth in ORV parts and accessories with good growth in Maverick parts and accessories sales
  • White Mavericks proved more popular than yellow Mavericks resulting in a change in production
  • Just started shipping the Maverick 4 seater which has received good comments and strong orders from dealers
  • Of all their products which includes the Spyder, snowmobiles, personal watercraft, ATVs and side-by-sides the side-by-sides stand out as a strong driver with an overall market that is outpacing the other product categories
  • Management remarked that although there have been a number of new product introductions in the UTV market, nothing is a game-changer and they believe their products are very competitive



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