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BRP Announces FY21, Q3 Results

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Bombardier Recreational Products reported its financial results for both the three- and nine-month periods that ended on Oct. 31.

The North American market continued to see revenue boosts in the powersports segment — increases of 16 percent for the three-month period and 23 precent over nine months — with boat retail sales increasing by 4 percent over three months and 8 percent over the nine months when compared to the same time period in 2019.

However, BRPs’ overall revenue did see a decrease of 299 million CAD (approx. $230 million) over the nine-month period — down 6.7 percent to 4.137 billion CAD (approx. $3.179 billion) compared to last fiscal year period.

The company says the chief factors in contributing to the revenue decrease was its lower volume of seasonal products following government-mandated shutdowns of manufacturing facilities in response to the Covid-19 pandemic as well as lower volume of marine engines as it slowed the production of Evinrude outboards, to be retired by year’s end.

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In turn, BRP’s marine segment saw a near-24 percent decrease of $34 million CAD ($26.1 million) in the 3-month time period.

Overall, the three-month time period seemed to show a bounce back after shutdowns and the mothballing of its outboard engine segment:

• Revenue increase of 31.1 million CAD, 1.9 percent ($23.8 million)

• Gross profit increased by 45.0 million CAD — 10.2 percent — to 486.9 million CAD ($374.2 million)

• A year-round products revenue increase of $78 million CAD —10.8 percent — to $803.0 million CAD ($617.2 million)

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“We are very pleased with our results as our strong line-up continues to gain market share globally. The surge in demand for our products has offered a major opportunity for us to continue this pace and we are working hard to maintain it. Said BRP president and CEO José Boisjoli in a statement.

“I would also like to thank the remarkable dedication of our employees, dealers and suppliers who have risen to the occasion and allowed us to continue to deliver exceptional results while still ensuring the health and safety of our people everywhere around the world.” 

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