BRP Inc.
For the period ended Jan 31, 2024. Filed Mar 28, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2024 · Filed Mar 28, 2024
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Contents
EX-99.3 · Reporting Segments
Reporting Segments
BRP and its subsidiaries (the “Company”) design, develop, manufacture and sell powersports and marine products. The Company has two operating and reportable segments consisting of Powersports (Year-Round Products, Seasonal Products and PA&A and OEM engines) and Marine Products.
Following the acquisitions of Pinion GmbH (“Pinion”) and of substantially all the assets related to the powersports business of Kongsberg Automotive ASA and its subsidiary Kongsberg Inc. located in Shawinigan, Quebec (“KA Shawinigan”) in Fiscal 2023, the Company created a new Low Voltage & Human Assisted Group (“LVHA”). The creation of LVHA is intended to allow the Company to pursue its growth strategy with low voltage and human assisted product categories at the intersection of mobility, recreation and utility.
Powersports
Year-Round Products
Year-Round Products consist of BRP vehicles that are sold and used throughout the year in most climates and include ATVs, SSVs and 3WVs product lines. All products within the Year-Round Product category are sold under theCan-Am brand.Can-Am ATVs, SSVs and 3WVs all leverage BRP’sRotax engines.
Seasonal Products
Seasonal products consist of BRP products that are mostly used in specific seasons. These products include snowmobiles, which are mainly used during the winter season with sales to dealers concentrated in the months of September to January, as well as PWC andSea-Doo pontoons, which are mainly used during the summer season, with sales to dealers concentrated in the months of January to April. All these products leverage BRP’sRotax engines.
Parts, Accessories & Apparel and OEM engines
PA&A andRotax engines consist of parts, accessories and apparel (referred to as “PA&A”), engines for karts and recreational aircraft, Pinion gearboxes and other services.
Marine
Marine consists of boats, pontoons, jet boat and outboard engines and related PA&A and other services. BRP competes in the boat product category withAlumacraft andQuintrex boats,Manitou pontoons and in the marine engine product category with theRotax engines for jet boats and outboard engine with Stealth Technology.
| BRP Inc. | Management’s Discussion and Analysis | 5 |
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The following table shows the percentage of total revenues for each segment:
| Proportion of Total Revenues (in percentages) · Three-month periods ended · Twelve-month periods ended | |||||
|---|---|---|---|---|---|
| January 31, 2024 | January 31, 2023 | January 31, 2024 | January 31, 2023 | January 31, 2022 | |
| Year-Round Products | 50.7% | 40.8% | 51.5% | 48.1% | 45.3% |
| Seasonal Products | 35.4% | 42.9% | 32.9% | 34.3% | 33.0% |
| Powersports PA&A and OEM Engines | 10.8% | 12.3% | 11.4% | 12.7% | 15.0% |
| Total Powersports | 96.9% | 96.0% | 95.8% | 95.1% | 93.3% |
| Marine | 3.1% | 4.0% | 4.2% | 4.9% | 6.7% |
| Total Revenues | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
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