Slide 1: Quarterly Review: First Quarter Ended April 30, 2023
QUARTERLY REVIEW FIRST QUARTER ENDED APRIL 30, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements Caution concerning forward-looking statements Certain statements included in this presentation, including, but not limited to those relating to the Company’s Fiscal Year 2024 financial guidance and where it stands with respect to it, and related assumptions of the Company
Slide 3: José Boisjoli, President and CEO
JOSÉ BOISJOLI PRESIDENT PRESIDENT AND AND CHIEF CHIEF EXECUTIVE EXECUTIVE OFFICER OFFICER QUARTERLY REVIEW SECOND FIRST QUARTER QUARTER ENDED ENDED APRILJULY 31, 2018 30, 2023 QUARTERLY REVIEW First Quarter Ended April 30, 2023
Slide 4: FY24 Q1 Financial Highlights
FY24 Q1 Financial Highlights Revenues Diluted Earnings per Share Normalized Diluted Earnings per Share[1] CA$ millions CA$ CA$ +34% +32% +43% $2,429 $2.38 $1,809 $1.92 $1.46 $1.66 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 Highlights vs. Last Year ◼ Revenues increased 34% primarily driven by a
Slide 5: FY24 Q1 Powersports Retail Update
FY24 Q1 Powersports Retail Update Powersports Retail Growth by Region North American Powersports Retail Growth by Product Line FY24 Q1 retail sales in units compared to FY23 Q1 FY24 Q1 retail sales in units compared to FY23 Q1 BRP VS. BRP VS. INDUSTRY[1] INDUSTRY INDUSTRY INDUSTRY NORTH AMERICA TOTA
Slide 6: Powersports Retail Trends Improved in Recent Months
Powersports Retail Trends Improved in Recent Months FY24 YTD Retail Growth Evolution FY24 YTD Retail Dynamic BRP NORTH AMERICAN › Slower start to FY24 when compared to FY23 due to: POWERSPORTS ▪ Unfavourable weather conditions early in FY24, and; Monthly unit growth vs last year ▪ Abnormally strong
Slide 7: Year-Round Products
Year-Round Products Highlights Revenues CA$ millions Year-Round Products | Revenues up 43% + ◼ Higher volume of SSV and 3WV sold + Favourable pricing and product mix +43% ◼ Higher sales programs + Favourable Fx variation Q1 Retail Sales Update $1,333.3 SIDE-BY-SIDE ALL-TERRAIN THREE-WHEELED $934.4 N
Slide 8: Seasonal Products
Seasonal Products Highlights Revenues CA$ millions Seasonal Products | Revenues up 69% + ◼ Higher volume of Sea-Doo PWC and pontoon + Favourable pricing +69% ◼ Higher sales programs + Favourable Fx variation Q1 Retail Sales Update $691.9 PERSONAL $408.7 North American SNOWMOBILE PONTOON Year-over-ye
Slide 9: Powersports PA&A and OEM Engines
Powersports PA&A and OEM Engines Highlights Revenues CA$ millions Powersports PA&A and OEM Engines | Revenues down 17% ◼ Lower volume of sales and timing of shipments of certain products compared to last year 17% + ◼ Favourable pricing + Favourable Fx variation OEM Engines: ◼ Launched the new Rotax
Slide 10: Marine
Marine Highlights Revenues CA$ millions Marine | Revenues down 3% ◼ Lower volume of boats and PA&A sold as a result of supply chain challenges which limited product availability 3% and caused a longer production ramp-up of production of the recently introduced pontoon models Q1 Retail Sales Update $
Slide 11: Sébastien Martel, Chief Financial Officer
JOSÉ BOISJOLI SÉBASTIEN MARTEL PRESIDENT CHIEF ANDOFFICER FINANCIAL CHIEF EXECUTIVE OFFICER QUARTERLY REVIEW SECOND FIRST QUARTER QUARTER ENDED ENDED APRILJULY 31, 2018 30, 2023 QUARTERLY REVIEW First Quarter Ended April 30, 2023
Slide 12: FY24 Q1 Financial Overview
FY24 Q1 Financial Overview Financial Highlights Q1 Net Income Bridge Q1 Comparison 15 (5) CA$ millions FY24 FY23 Change (72) (17) Total Revenues $2,429.4 $1,809.3 +$620.1 170 (57) Growth +34.3% Gross Profit $623.5 $454.4 +$169.1 155 121 As a % of revenues 25.7% 25.1% Operating Income $281.9 $199.6 +
Slide 13: BRP North American Powersports Dealer Inventory
BRP North American Powersports Dealer Inventory FY24 Q1: Inventory Position Overview Year-over-Year Bridge DEALER INVENTORY DEALER INVENTORY North America Powersports, Units North America Powersports, Units Year-Round Products Seasonal Products +4% ◼ ORV inventory closing in on target levels ◼ Sligh
Slide 14: FY24 Full-Year Guidance - as at June 1, 2023
FY24 Full-Year Guidance - as at June 1, 2023 Financial Metric FY23[4] FY24 Guidance[3] vs FY23 Revenues Year-Round Products $4,827.1 Up 16% to 19% Seasonal Products 3,440.3 Down 2% to Up 1% (previously “Down 4% to Flat”) Powersports PA&A and OEM Engines 1,276.4 Up 3% to 7% Marine 489.6 Up 35% to 40%
Slide 15: Closing Remarks
JOSÉ BOISJOLI CLOSING REMARKS PRESIDENT AND CHIEF EXECUTIVE OFFICER QUARTERLY REVIEW SECOND FIRST QUARTER QUARTER ENDED ENDED APRILJULY 31, 2018 30, 2023 QUARTERLY REVIEW First Quarter Ended April 30, 2023
Slide 16: Celebrating our 10th Year as a Public Company
Celebrating our 10th Year as a Public Company SIGNIFICANTLY GREW OUR BUSINESS THROUGH DELIVERED STRONG RETURNS FOR OUR SHARE GAINS AND NEW PRODUCT LINES SHAREHOLDERS BRP Inc. (TSX:DOO)[4] +368% FY13 FY23 EVOLUTION 500% SHARE PRICE REVENUES $2.9B $10.0B 3.5x 400% APPRECIATION OVER 10 YEARS AND NORMAL
Slide 17: Closing Remarks
Closing Remarks WELL POSITIONED TO DELIVER SOLID RESULTS IN FY24 › Strong start of the year with solid Q1 results › Solid track record of market share gains driven by our diversified portfolio of industry-leading line-ups and the momentum we have with our dealer network › Key growth opportunities: ›
Slide 18: Q&A
JOSÉPERIOD Q&A BOISJOLI PRESIDENT AND CHIEF EXECUTIVE OFFICER QUARTERLY REVIEW SECOND FIRST QUARTER QUARTER ENDED ENDED APRILJULY 31, 2018 30, 2023 QUARTERLY REVIEW First Quarter Ended April 30, 2023
Slide 19: Appendix
JOSÉ BOISJOLI APPENDIX PRESIDENT AND CHIEF EXECUTIVE OFFICER QUARTERLY REVIEW SECOND FIRST QUARTER QUARTER ENDED ENDED APRILJULY 31, 2018 30, 2023 QUARTERLY REVIEW First Quarter Ended April 30, 2023
Slide 20: Reconciliation Tables: FY24
Reconciliation Tables: FY24 Three-month periods ended CA$ millions Apr. 30, 2023 Apr. 30, 2022 Net Income/(Loss) $154.5 $121.0 Normalized Elements: Foreign Exchange (Gain)/Loss on Long-term Debt and Lease Liabilities 43.8 16.1 (Gain)/Loss on NCIB - (1.8) Costs Related to Business Combinations[1] 4.9
Slide 21: Reconciliation Tables: FY13 and FY23
Reconciliation Tables: FY13 and FY23 Twelve-month periods ended CA$ millions Jan. 31, 2023 Jan. 31, 2013 Net Income/(Loss) $865.4 $119.2 Normalized Elements: Foreign Exchange (Gain)/Loss on Long-term Debt and Lease Liabilities 92.4 (3.6) Cybersecurity incident costs[1] 25.5 - Gain on NCIB (1.8) - Pa
Slide 22: Reconciliation Tables: Free Cash Flow
Reconciliation Tables Free Cash Flow 3-month periods ended CA$ millions Apr. 30, 2023 Apr. 30, 2022 Net Cash Flows Generated from/(Used in) Operating Activities $258.8 ($333.1) Additions to Property, Plant and Equipment (111.2) (92.6) Additions to Intangible Assets (6.6) (16.4) Free Cash Flow[1] $14
Slide 23: Appendix - Continued: Non-IFRS Measures
Appendix - Continued Non-IFRS Measures Normalized revenues is defined as revenues before normalized elements. Normalized gross profit is defined as gross profit before normalized elements. Normalized EBITDA is defined as net income before financing costs, financing income, income tax expense (recove
Slide 24: BRP brands
us Ski-Doo Lynx Sea-Doo Can-Am Rotax Alumacraft Manitou FT) ADVENTURE BY DESIGN Quintrex