FR Logo BRP

On the right path

2019 annual review

For the year ended January 31, 2019

Yellow-
blooded people


For us, the world is one big opportunity, filled with possibility. There are no boundaries to the road we travel or to our ambitions. Exploring gives us new vantage points. Connecting with our passionate community drives us to find new ways of doing things. We’re not afraid to measure ourselves against others and take the lead, in both work and play.

Our values

They make our culture unique, inform how we act, and drive what we make.


PASSION, to keep moving – Passion informs everything we do and is an integral part of every value we have. If it’s not done with passion, it’s not BRP. It’s passion you can feel.

DRIVE, to deliver on our commitments – We say what we do. We do what we say. No excuses. Only sheer determination. Relentless drive and love of the ride push us ahead. While we live for the ride, we always arrive at destination.

INGENUITY, to defy conventions – We’re not afraid to see things differently. Constant curiosity makes us the first to uncover new solutions. We question. We innovate. We progress. Relentlessly.

TRUST, to build strong partnerships – We take care of our people like family. We act with integrity. People can count on us like we count on them. It’s that simple.

On the right path
Letter to shareholders for the year ended
January 31, 2019 – José Boisjoli

FY2019 was an exceptional year in every respect, with strong financial results and record revenues once again. For the third straight year, we significantly outpaced the industry and introduced new products to an eager market.

Four years ago, we set out on an ambitious journey to reach the $6 billion revenue1 mark and $3.501,2 diluted normalized earnings per share by fiscal year 2021. With only two years to go, our steady positive performance and solid progress on our strategic priorities of Growth, Agility and Lean enterprise have shown that we are, without a doubt, on the right path.

Read more +

Adventure
by design

We are defined by our passion,
ingenuity, trust and drive.

Global leader in the world of powersports vehicles and propulsion system built over 75 years of ingenuity and intensive consumer focus.

A stand-alone company since 2003

8
ICONIC
BRANDS
Logos

Company overview

$5.2B

annual
sales
12,500+

DRIVEN, RESOURCEFUL
EMPLOYEES WORLDWIDE
120+

COUNTRIES WHERE
OUR PRODUCTS
ARE AVAILABLE
Bank icon
TSX: DOO /
NASDAQ: Dooo

Financial
highlights

Fiscal year 2019

Revenue base
by category

At 31/01/19

42.7% YEAR‑ROUND
PRODUCTS

34.4% SEASONAL
PRODUCTS

13.5% POWERSPORTS PAC AND OEM ENGINES

9.4% MARINE

Revenue base
by geography

At 31/01/19

53.7% UNITED STATES

30.2% INTERNATIONAL

16.1% CANADA

Share Price

DOO MONTHLY CLOSING PRICE IN CA$

Share price Share price

DOO performance
over the last years

CA$

Share price
>
BRP $100.00 $130.28 $101.86 $72.19 $122.28 $237.91 $177.94
S&P/TSX $100.00 $107.56 $115.24 $100.70 $120.84 $125.28 $122.05
2013 2014 2015 2016 2017 2018 2019

Total
revenues

CA$ millions
At 31/01/19

CAGR* 10%

15

16

17

182

19

NET
INCOME

CA$ millions
At 31/01/19

15

16

17

182

19

NORMALIZED
EBITDA1

CA$ millions
At 31/01/19

CAGR* 12%

15

16

17

182

19

Normalized earnings per share – diluted1

CA$ millions
At 31/01/19

CAGR* 17%

15

16

17

182

19

Earnings per share – diluted1

CA$ millions
At 31/01/19

CAGR* 40%

15

16

17

182

19

1 See Non-IFRS measures.

2 Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 31 of the audited consolidated financial statements for the year ended January 31, 2019.

* Compound Annual Growth Rate since 31 January 2015.

Our
product
lines

Powersports
year-round products

Year-round products balance out our portfolio. They extend the BRP experience: to work as well as play, to many different parts of the world, and to different types of customers. Our On-Road products are unique and game-changing. Our Off-Road products are proving time and again that they are world class.

Market
Market
indicators
GLOBAL SALES AT JANUARY 31, 2019
2,240.6
Millions
CA$
GLOBAL SALES VS FY20181
+23.8%

1 Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 31 of the audited consolidated financial statements for the year ended January 31, 2019.

Powersports
seasonal products

This is where it all began. These are the products that launched BRP, and they will always hold an extra special place in our heart. For many of our engineers and other employees, they are also the products we grew up on and continue to ride. Our ongoing innovation in this category upholds our deep-rooted pride.

Market
Market
indicators
GLOBAL SALES AT JANUARY 31, 2019
1,803.5
Millions
CA$
GLOBAL SALES VS FY20181
+16.1%

1 Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 31 of the audited consolidated financial statements for the year ended January 31, 2019.

POWERSPORTS PAC
AND OEM ENGINES

Our parts, accessories and clothing (PAC), as well as our Rotax engines, are designed to enhance the BRP experience for our customers. PAC also builds our brands, while Rotax, manufactured in Austria and Mexico, multiplies our possibilities. These complementary yet diversified product ranges contribute to stability in our profitability.

Market
Market
indicators
GLOBAL SALES AT JANUARY 31, 2019
707.5
Millions
CA$
GLOBAL SALES VS FY20181
+7.2%

1 Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 31 of the audited consolidated financial statements for the year ended January 31, 2019.

Marine

More and more, consumers buy their boats and engines as a package. Incorporating renowned leisure craft experts, alongside our Evinrude outboard motors, in the new BRP Marine group, was a logical move. Even more so when you know that people who enjoy spending time on the water are highly likely to be powersports enthusiasts too.

Market
Market
indicators
GLOBAL SALES AT JANUARY 31, 2019
492.2
Millions
CA$
GLOBAL SALES VS FY20181
+14.8%

1 Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 31 of the audited consolidated financial statements for the year ended January 31, 2019.

CSRCorporate social responsibility

BRP aims to be recognized as a worldwide
sustainable innovation leader.

Our CSR program is 
built on six pillars

» Governance

» Environment

» Employees

» Product Responsibility

» Supply Chain Management

» Role in the Community

Gens BRP
Gens BRP

FY2019
HIGHLIGHTS

  • Our Valcourt facility received the Quebec Eastern Townships Environmental Excellence Award in October 2018 for the installation of its new dust extractor. It replaces 16 dust units with one variable unit, saving more than 175,000 m3 of natural gas and more than 900,000 kWh of electricity. (picture 2)
  • Our Mexican facilities received several awards, confirming their commitments to sustainability efforts, involvement in the community and dedication to improving health, education and well-being. (picture 4)
  • In Mexico, BRP is ranked among the 30 best companies to work for, with over 3,000 employees.
  • For the third time, our Gunskirchen facility received the klima:aktiv Award from the Ministry of Environment for its continuous efforts and investments in energy efficiency. (picture 1)
  • For the second time, our Gunskirchen facility also received the Upper Austrian Gutesiegel Award for its outstanding promotion of health in the workplace. (picture 3)