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BRP Outlines Expansion Ambitions

1_BRP.GROWTH

BRP plans to leverage the Rotax Project Ghost propulsion plan and emerging leadership in the pontoon segment to achieve more than C$1 billion ($780 million) in annual marine revenue, the company stated during investor days this week.

BRP said its Manitou, AlumaCraft and Quintrex brands will increase in market share by 2025, according to a company presentation. Expansions at Manitou and AlumaCraft plants in the United States and other production optimization are helping to achieve that. Dealer networks also are expanding for the brands, with Manitou’s network projected to more than double by 2025.

BRP said it would grow revenue from its entry-level Sea-Doo Switch pontoon to C$500 million ($388 million) by fiscal 2025.

“When combined with Manitou retail projections, we are well-positioned to be No. 1 in the pontoon industry” by that year, BRP stated.

The company’s current full-year fiscal 2023 guidance forecasts marine revenue of C$512.8 million ($398 million), so C$1 billion by 2025 would effectively be a doubling of revenue in about two years.

Valcourt, Quebec-based BRP said it is succeeding in its goal of attracting a younger and more diverse customer base, with measurable increases in women and minorities compared with a predominantly white male demographic prepandemic.

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