BRP REPORTS FIRST-QUARTER RESULTS FOR FISCAL YEAR 2015

Highlights:

  • Results in-line with the outlook provided on March 28;
  • Revenues of $758.6 million, a decrease of 6% compared to the three-month period ended April 30, 2013;
  • Normalized EBITDA of $56.6 million; a decrease of 47% compared to the three-month period ended April 30, 3013;
  • Net income of $28.0 million, which resulted in diluted earnings per share of $0.24;
  • Normalized net income of $16.6 million, which resulted in normalized diluted earnings per share of $0.14;
  • Strong spring bookings in snowmobiles;
  • Sea-Doo Spark retail beyond expectations;
  • Fiscal Year 2015 financial guidance reaffirmed

Valcourt, Québec, June 12, 2014 — BRP Inc. (TSX: DOO) today reported its financial results for the three-month period ended April 30, 2014. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available at www.sedar.com.

“Our financial results for the first quarter were as expected and consistent with our outlook,” said José Boisjoli, president and CEO. “Our sales in international markets grew in the quarter despite the situation in Russia, but this was offset by the long winter affecting sales of off-road vehicles in North America. We continue to fulfill our strategic initiatives and we are very much on track to accomplish our annual plan.”
Commenting on the outlook for Fiscal Year 2015, Boisjoli added: “We are fine-tuning our guidance for Fiscal Year 2015, but as a whole, forecasted growth for Revenues and Normalized Net Income is unchanged. We anticipate a stronger second half of the year resulting from strong spring snowmobile orders, the introduction of the Can-Am Outlander L ATV, the restart of the Sea-Doo Spark manufacturing in Querétaro and upcoming product launches. For the second quarter, we expect our financial performance to be similar to last year’s, factoring in the continued uncertainty in Eastern Europe.”

Andrea Veitschegger

Public Relations

+43 7246 / 601 202 andrea.veitschegger@brp.com

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