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BRP Inc. (TSX: DOO, NASDAQ: DOOO) is a global leader in the design, development, manufacturing, distribution, and marketing of powersports vehicles. Founded by Joseph-Armand Bombardier in 1937, the company has continued to innovate for over 80 years. Headquartered in Quebec, Canada, BRP employs approximately 23,000 people and has annual sales of CA$10.4 billion, with its products distributed in more than 130 countries.
BRP offers an extensive range of products under its well-known brands: Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons, and Rotax propulsion systems for boats, karts, and recreational aircraft. The company also provides a dedicated line of parts, accessories, and apparel to enhance the riding experience. Committed to sustainability, BRP is focusing on developing electric models and exploring new low-voltage and human-assisted product categories.
In recent years, BRP has achieved significant milestones, including the acquisition of boat manufacturers Alumacraft, Triton (making Manitou pontoon boats), and Telwater in Australia, to bolster its Marine Group established in 2018. The company's products are sold through a network of over 2,450 independent dealers and 150 distributors globally.
Latest News:
- BRP continues to lead the snowmobile market with the introduction of the 2025 Ski-Doo and Lynx lineups, featuring innovations like the RAS RX front suspension for MXZ models and new electric models designed for commercial users and consumers.
- Financial performance: For FY24 Q4, BRP reported net cash flows from operating activities totaling $1,658.1 million, a significant increase from the previous year due to favorable changes in working capital and lower taxes paid.
- Upcoming events: BRP's annual general meeting will be held virtually on May 31, 2024, allowing all shareholders to participate regardless of location.
BRP's commitment to continuous innovation and customer satisfaction has solidified its position as a market leader in the powersports industry.
BRP Inc. (NASDAQ: DOOO) announces its annual general meeting of shareholders will take place virtually on June 1, 2023, at 11:00 a.m. EDT. This completely digital format allows all shareholders to participate equally, regardless of location. Registered shareholders and proxy holders are encouraged to vote in advance, with voting results to be shared post-meeting on SEDAR. For participation, shareholders can log in using a control number and password, while guests can listen in but cannot vote. Questions can be submitted in advance by email or during the meeting, with a deadline of May 30, 2023, at 11:00 a.m. EDT. A recording of the meeting will be available on the company's website following the event.
BRP Inc. (TSX: DOO, NASDAQ: DOOO) has inaugurated its first European Design and Innovation Centre in Sophia Antipolis, France, on April 11, 2023. This Centre aims to enhance BRP's design and innovation capabilities, focusing on sustainable urban mobility and supporting the company's global electrification strategy. By 2035, BRP plans to sell electric models in all product lines, targeting 50% of total sales to be electric. The Centre will attract top design talent and foster local market understanding, which is crucial for better serving European consumers and partners. The team, led by Nicolas Deluy, comprises 15 experts and is expected to drive forward the company's technological transition under the CSR25 program.
On March 29, 2023, BRP Inc. (DOOO) announced new three-year partnerships with Tread Lightly! and RideSafe to enhance its Responsible Rider program. These organizations aim to promote responsible riding practices among enthusiasts. The partnerships include training on safety, environmental stewardship, and riding etiquette, accessible in multiple languages. BRP has invested CAD $1.5 million in related initiatives over the past year and is committed to its Corporate Social Responsibility (CSR25) goal of allocating 1% of annual pre-tax profits to support local and global causes by 2025. This initiative aligns with BRP's mission to create a positive impact in the community.
BRP-Rotax has launched its new Rotax 916iS/c aircraft propulsion system, debuting at the SUN 'n FUN Aerospace Expo in Lakeland, Florida. Weighing only 85.8 kg and delivering 160 hp, this new engine boasts a remarkable power-to-weight ratio, targeting the four-seater and high-performance two-seater market segments. It features multi-fuel technology compatible with MOGAS and AVGAS, and fully electronic technology for enhanced efficiency. With a TBO of 2,000 hours at launch, the 916iS/c aims to elevate the flight experience for commercial pilots and flight schools. It will be introduced in Europe at AERO Friedrichshafen from April 19 to 22, 2023.
BRP Inc. (NASDAQ: DOOO) has announced the winners of its 5th International Design Competition, showcasing innovative solutions for sustainable urban mobility. The contest involved 42 students from 6 universities, focusing on designing alternative personal transportation devices suitable for cold climates. Madilynn Cadaret from the College for Creative Studies, Detroit, won first place for her autonomous vehicle concept, earning a six-month paid internship at BRP. The competition, now endorsed by the World Design Organization, emphasizes BRP's commitment to fostering design talent and aligns with the United Nations Sustainable Development Goals.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) reported record revenues of $3,076.3 million for FY23 Q4, marking a 31% increase year-over-year. Full-year revenues reached an all-time high of $10,033.4 million. Normalized diluted earnings per share rose by 28% to $3.85, while diluted earnings per share surged 82% to $4.54. The company gained over 5 percentage points market share in North American Powersports. For FY24, BRP anticipates 9% to 12% revenue growth and estimated normalized EPS of $12.25 to $12.75.
BRP Inc. (TSX: DOO, NASDAQ: DOOO) has announced a partnership with the Born This Way Foundation to support the #BeKind365 initiative, promoting acts of kindness throughout the year. This initiative is part of BRP's Ride Out Intimidation program and aims to foster a kinder world while addressing mental health issues linked to kindness. BRP has committed nearly CAD $2 million to community investments since the program's launch. The company is focused on engaging its network, including employees and suppliers, to participate in this initiative, emphasizing its commitment to Corporate Social Responsibility by planning to invest 1% of annual profits in community causes by 2025.
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