BRP today reported sales of C$1.3bn for its fourth quarter, up 18% compared to the same period a year ago. Its net income was C$136.4m compared to a loss of C$28.4m a year ago.
For fiscal 2017, the company had record sales of C$4.1bn, up 9%. Net income rose to C$257m, up C$205m for the year.
BRP says in a statement that North American retail sales were up 12%, thanks mainly to Sea-Doo personal watercraft, snowmobiles and SSV. The company also added 70 new dealers to its North American powersports network, 55 to its Evinrude dealer network and signed 13 supply outboard agreements with boat manufacturers.
"We have completed a record quarter and a record year in difficult market conditions,” says José Boisjoli, president and CEO in the statement. “I firmly believe that our success is largely due to the quality of our team, and the diversification of our product offering, geographic sales and manufacturing footprint.”
Sales in its Seasonal Products division, which includes Sea-Doo, were up 37.2% to C$132.8m for the quarter. The statement says a higher volume of snowmobile sales shipped later in the year, along with a “favorable mix” of models, contributed to the gain. The increase was partially offset by an unfavorable foreign exchange rate variation of C$13m.
Sales for its propulsion systems, which includes its Evinrude outboards and Rotax inboard engines, were up 12.6% to C$111.5m for the quarter.
“The increase in revenues was mainly attributable to a higher volume of motorcycle engines sold and a favorable mix of outboard engines sold,” says Boisjoli. He adds that the increase was partially offset by an unfavorable foreign exchange rate variation of C$4m.