BRP CELEBRATES 20 YEARS OF ADVENTURES AND INNOVATION
VALCOURT, QC, Dec. 18, 2023 /PRNewswire/ - BRP Inc. (TSX : DOO) (NASDAQ : DOOO) marks an important milestone in its history by celebrating 20 years of adventure, innovation and growth. BRP's adventure began on December 18, 2003, when it was launched as a standalone company. Its mission, which remains the same today, was to create new ways to move people and redefine powersports riding experiences so that they are measured by emotion rather than distance.
20 years of growth1
BRP has experienced exceptional growth. In 20 years, the company has tripled its global market share, becoming the world's leading powersports original equipment manufacturer (OEM). It has grown from 7,500 to 23,000 employees in 26 countries. Revenues have more than quadrupled from CAD 2.4 billion to over CAD 10 billion, and BRP now offers 8 diversified product lines covering all seasons and catering to the whole family, from pure adrenaline enthusiasts to weekend adventurers.
"I've had the privilege of being President and CEO of BRP since its founding. When Bombardier made the decision to sell its recreational products division 20 years ago, I told all the employees that this was our chance to prove to the world that we could succeed as a standalone company," said José Boisjoli, President and CEO of BRP. "Today, one out of every three powersports products sold in the world carries the BRP logo. We took bold risks to deliver the best experiences to our rider communities across all of our product lines."
BRP has established itself as an innovative company, challenging industry norms. From the Ski-Doo REV platform that transformed the snowmobile experience, to the Sea-Doo Spark that redefined entry-level personal watercraft, the side-by-side vehicles that challenged performance and racing standards, and the Can-Am Spyder and Ryker that shaped the three-wheel category, BRP has consistently pushed the boundaries of technology, design and of the riding experience.
The global expansion of BRP, which is still headquartered in Valcourt, Quebec, is not limited to its products. With a network of nearly 3,000 dealers worldwide, BRP now sells its products in 130 countries. The company has strengthened its ties with strategic partners and invested in communities around the world, from Valcourt, Quebec, to Finland, Mexico, and the United States. BRP's manufacturing footprint has grown from 7 to 14 sites worldwide.
"We grew together with BRP, we've been partnering for 16 years. People at BRP listen and truly try to make things better, and I think the dealer network is strong because of that," said John Kalogerou at Johnny K's Powersports. "The innovative products that they keep coming out are rejuvenating our industry and helping the business grow. It only keeps things exciting!"
Looking to the future
BRP remains focused on the future. The company is committed to reducing its carbon footprint, and invests heavily in new technologies, expertise and innovation. Furthermore, BRP wants to become the reference for electric recreational vehicles, and aims to have 50% of its units sold as electric by 2035. BRP is also exploring new markets - such as urban mobility - and intends to strengthen its position in the marine industry.
BRP celebrates two decades while remaining true to its core values: passion, drive, ingenuity and trust. Guided by adventure, the company continues to share unique experiences with the world while pursuing its commitment to inclusivity and fighting against intimidation.
"Behind these twenty years of growth are, above all, our people. They are people of heart, ingenuity and passion, who are ready to meet the challenges of our industry and eager to innovate. Our employees are the foundation of our culture, the one we call "yellow blood", after the color of Joseph-Armand Bombardier's first snowmobile. I would like to thank them sincerely," says José Boisjoli. "I would also like to express my gratitude to our dealers around the world. Their enthusiasm and commitment to our products have played a vital role in our worldwide success. Finally, I would like to thank our customers. They are at the heart of everything we do, and it is them who motivate us to keep pushing the boundaries of innovation."
Caution Concerning Forward-Looking Statements
Certain information included in this press release, including statements regarding the Company's plans for the future, such as its electrification journey and any targets and timelines related thereto, and its intention to reduce its carbon footprint and invest heavily in new technologies, expertise and innovation, as well as statements relating to untapped markets and its position in the marine industry and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP or the powersports or marine industry to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP's annual information form dated March 22, 2023.
About BRP
BRP Inc. is a global leader in the world of powersports products, propulsion systems and boats built on over 80 years of ingenuity and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds. The Company completes its lines of products with a dedicated parts, accessories and apparel portfolio to fully optimize the riding experience. Committed to growing responsibly, BRP is developing electric models for its existing product lines and exploring new low voltage and human assisted product categories. Headquartered in Quebec, Canada, BRP has annual sales of CA$10 billion from over 130 countries and a global workforce of close to 23,000 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
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1 All numbers in the press release are as of July 31, 2023
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SOURCE BRP Inc.
