BRP Reports Its Fourth Quarter and Full-Year 2023 Results

Highlights for FY23 Q4

• Revenues of $3,076.3 million, an increase of $728.8 million or 31% compared to the same period last year, a record performance for a single quarter in the Company’s history;
• Retail sales up for Powersports products by 21% compared to the same period last year, and market share gains for SSV in North America;
• Normalized diluted earnings per share ^[1] of $3.85, an increase of $0.85 per share or 28%, and diluted earnings per share of $4.54, an increase of $2.04 per share or 82% compared to the same period last year;
• Normalized EBITDA ^[1] of $528.0 million, an increase of $111.6 million or 27% compared to the same period last year.

Highlights for FY23

• Increased revenues by 31% compared to last year, reaching an all-time record high of $10,033.4 million;
• Outperformed our increased FY23 guidance with Normalized diluted earnings per share ^[1] of $12.05, an increase of $2.13 per share or 21%;
• Achieved market share gains of over 5 percentage points in the North American Powersports industry;
• Provided strong returns to shareholders with $356 million deployed for share repurchases and dividend payments; and
• Continued to invest in future market-shaping products with the completion of 3 acquisitions, the creation of the LVHA Group and the start of construction of the Can-Am electric two-wheel motorcycle production facility in Querétaro, Mexico.

Fiscal 2024 full-year guidance

• The Company is well positioned to continue its growth with revenues expected to increase in the range of 9% to 12% compared to fiscal year 2023; and
• Normalized diluted earnings per share ^[1] expected in the range of $12.25 – $12.75 or resulting in an increase of 2% to 6% compared to fiscal 2023.

VALCOURT, QUEBEC, CANADA – March 23, 2023 (Motor Sports NewsWire) – BRP Inc. (TSX: DOO, NASDAQ: DOOO) today reported its financial results for the three- and twelve-month periods ended January 31, 2023. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available on SEDAR and EDGAR as well as in the section Quarterly Reports of BRP’s website.

“We achieved record results for the year with revenues exceeding $10 billion for the first time ever, solid profit margins and Normalized EPS above our guidance range. These achievements speak volumes about the dedication and relentless work of our team, as well as the strength of our product portfolio. We are proud of our outstanding fourth quarter retail performance…