BRP Inc(NASDAQ:DOOO) 
BRP Inc., together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products worldwide. It operates in two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products, su...
Website: http://www.brp.com
Founded: 2003
Full Time Employees: 12,600
Sector: Consumer Cyclical
Industry: Recreational Vehicles
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-04 | 2025-08-29 | 2025-05-29 | 2024-12-06 | 2024-09-06 | 2024-05-31 | 2023-11-30 | 2023-09-07 | 2023-06-01 | 2023-03-23 | 2022-11-30 | 2022-09-14 | 2022-06-03 | 2021-12-01 | 2021-09-02 | 2021-06-03 | 2021-03-25 | 2020-11-25 | 2020-08-27 | 2020-05-28 | 2020-03-20 | 2019-11-27 | 2019-08-29 | 2019-05-30 | 2019-03-22 | 2018-11-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues | 2,250,300,000 | 1,888,200,000 | 1,846,900,000 | 1,955,700,000 | 1,841,900,000 | 2,031,700,000 | 2,467,800,000 | 2,778,000,000 | 2,429,400,000 | 2,709,300,000 | 2,438,500,000 | 1,809,300,000 | 1,588,000,000 | 1,903,800,000 | 1,808,600,000 | 1,674,700,000 | 1,229,800,000 | 1,333,700,000 | 1,394,200,000 | |||||||
cost of sales | 1,709,100,000 | 1,490,500,000 | 1,452,100,000 | 1,525,700,000 | 1,465,400,000 | 1,551,700,000 | 1,840,400,000 | 2,080,400,000 | 1,805,900,000 | 2,054,600,000 | 1,835,800,000 | 1,354,900,000 | 1,177,400,000 | 1,333,700,000 | 1,266,600,000 | 1,313,200,000 | 1,187,800,000 | 984,900,000 | 994,700,000 | 1,232,200,000 | 1,201,700,000 | 1,131,700,000 | 1,033,100,000 | 1,171,000,000 | 1,037,400,000 | |
gross profit | 541,200,000 | 397,700,000 | 394,800,000 | 430,000,000 | 376,500,000 | 480,000,000 | 627,400,000 | 697,600,000 | 623,500,000 | 654,700,000 | 602,700,000 | 454,400,000 | 410,600,000 | 570,100,000 | 542,000,000 | 501,900,000 | 486,900,000 | 248,400,000 | 235,100,000 | 383,700,000 | 441,900,000 | 327,800,000 | 300,600,000 | 334,900,000 | 356,800,000 | |
yoy | 43.75% | -17.15% | -37.07% | -38.36% | -39.62% | -4.17% | 15.75% | 37.21% | 14.84% | 11.20% | -9.46% | -15.67% | 129.51% | 130.54% | 30.81% | 10.18% | -24.22% | -21.79% | 14.57% | 23.85% | ||||||
qoq | 36.08% | 0.73% | -8.19% | 14.21% | -21.56% | -23.49% | -10.06% | 11.88% | 8.63% | 32.64% | 10.67% | -27.98% | 5.18% | 7.99% | 3.08% | 96.01% | 5.66% | -38.73% | -13.17% | 34.81% | 9.05% | -10.24% | -6.14% | |||
gross margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 27.65% | Infinity% | 20.14% | Infinity% | 23.75% | 26.89% | 22.46% | Infinity% | 22.24% | Infinity% |
operating expenses | ||||||||||||||||||||||||||
selling and marketing | 123,900,000 | 112,400,000 | 107,400,000 | 110,100,000 | 110,700,000 | 124,300,000 | 117,800,000 | 117,100,000 | 127,500,000 | 113,300,000 | 98,300,000 | 104,400,000 | 97,800,000 | 95,300,000 | 100,200,000 | 102,200,000 | 84,600,000 | 64,000,000 | 81,700,000 | 88,900,000 | 104,600,000 | 91,800,000 | 97,200,000 | 88,100,000 | 86,800,000 | |
research and development | 110,100,000 | 96,400,000 | 105,000,000 | 95,600,000 | 84,400,000 | 115,300,000 | 114,400,000 | 102,700,000 | 101,700,000 | 80,600,000 | 82,100,000 | 84,000,000 | 70,600,000 | 68,300,000 | 65,800,000 | 78,900,000 | 66,000,000 | 46,900,000 | 50,500,000 | 64,700,000 | 60,300,000 | 55,900,000 | 57,500,000 | 63,500,000 | 51,600,000 | |
general and administrative | 101,400,000 | 96,500,000 | 77,900,000 | 67,100,000 | 86,900,000 | 99,200,000 | 72,700,000 | 93,800,000 | 98,800,000 | 74,900,000 | 74,300,000 | 70,100,000 | 65,200,000 | 57,400,000 | 64,800,000 | 71,200,000 | 60,600,000 | 53,700,000 | 45,000,000 | 68,500,000 | 70,300,000 | 65,900,000 | 52,200,000 | 58,900,000 | 58,000,000 | |
other operating expenses | 3,200,000 | 2,000,000 | 10,600,000 | 22,300,000 | 20,100,000 | 17,100,000 | 4,700,000 | 5,200,000 | 13,600,000 | 1,100,000 | 2,200,000 | -8,500,000 | 10,700,000 | -5,300,000 | 500,000 | -8,600,000 | 18,600,000 | 13,800,000 | -35,800,000 | -1,300,000 | 4,300,000 | 4,700,000 | 3,300,000 | |||
total operating expenses | 338,600,000 | 307,300,000 | 300,900,000 | 295,100,000 | 302,100,000 | 355,900,000 | 309,600,000 | 318,800,000 | 341,600,000 | 269,900,000 | 256,900,000 | 254,800,000 | 225,100,000 | 231,700,000 | 225,500,000 | 252,800,000 | 202,600,000 | 188,900,000 | 362,400,000 | 186,300,000 | 233,900,000 | 217,900,000 | 211,600,000 | 208,400,000 | 199,700,000 | |
operating income | 202,600,000 | 90,400,000 | 93,900,000 | 134,900,000 | 74,400,000 | 124,100,000 | 317,800,000 | 378,800,000 | 281,900,000 | 384,800,000 | 345,800,000 | 199,600,000 | 185,500,000 | 338,400,000 | 316,500,000 | 249,100,000 | 284,300,000 | 59,500,000 | -127,300,000 | 197,400,000 | 208,000,000 | 109,900,000 | 89,000,000 | 126,500,000 | 157,100,000 | |
yoy | 172.31% | -27.16% | -70.45% | -64.39% | -73.61% | -17.41% | 9.54% | 41.23% | 13.71% | 9.26% | -19.87% | -34.75% | 468.74% | -348.63% | 26.19% | 36.68% | -45.86% | -243.03% | 56.05% | 32.40% | ||||||
qoq | 124.12% | -3.73% | -30.39% | 81.32% | -40.05% | -60.95% | -16.10% | 34.37% | 11.28% | 73.25% | 7.60% | -45.18% | 6.92% | 27.06% | -12.38% | 377.82% | -146.74% | -164.49% | -5.10% | 89.26% | 23.48% | -29.64% | -19.48% | |||
operating margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 13.72% | Infinity% | 4.82% | -Infinity% | 12.22% | 12.66% | 7.53% | Infinity% | 8.40% | Infinity% |
financing costs | 67,600,000 | 50,500,000 | 46,600,000 | 51,200,000 | 50,100,000 | 48,700,000 | 67,900,000 | 47,200,000 | 44,300,000 | 33,100,000 | 27,800,000 | 16,500,000 | 16,500,000 | 15,700,000 | 82,700,000 | 28,000,000 | 37,000,000 | 20,700,000 | 17,300,000 | |||||||
financing income | -3,200,000 | -3,300,000 | -1,300,000 | -1,300,000 | -4,000,000 | -1,800,000 | -6,100,000 | -6,100,000 | -1,500,000 | -300,000 | -1,500,000 | -2,800,000 | -700,000 | -1,600,000 | -1,200,000 | -2,000,000 | -14,000,000 | -800,000 | -400,000 | |||||||
foreign exchange loss on long-term debt | 31,200,000 | 6,900,000 | -126,400,000 | 25,800,000 | 11,700,000 | 70,200,000 | 140,900,000 | -77,000,000 | 43,400,000 | 84,200,000 | 25,700,000 | |||||||||||||||
income before income taxes | 107,000,000 | 36,300,000 | 175,000,000 | 59,200,000 | 16,600,000 | 7,000,000 | 115,100,000 | 414,700,000 | 195,700,000 | 219,400,000 | 319,700,000 | 169,700,000 | 179,600,000 | 298,200,000 | 310,100,000 | 324,900,000 | 267,700,000 | 126,200,000 | -234,500,000 | 163,300,000 | 184,200,000 | 114,800,000 | 43,400,000 | 106,500,000 | 130,000,000 | |
income tax expense | 30,500,000 | -20,800,000 | 14,000,000 | 31,900,000 | 9,400,000 | 14,400,000 | 52,000,000 | 76,000,000 | 41,200,000 | 77,800,000 | 82,000,000 | 48,700,000 | 51,900,000 | 85,300,000 | 65,700,000 | 60,700,000 | 69,000,000 | 100,000 | -8,400,000 | 45,100,000 | 48,900,000 | 21,500,000 | 19,600,000 | 23,800,000 | 39,800,000 | |
net income from continuing operations | 76,500,000 | 57,100,000 | 161,000,000 | 27,300,000 | ||||||||||||||||||||||
net loss from discontinued operations | -7,700,000 | -33,600,000 | -10,900,000 | -20,500,000 | ||||||||||||||||||||||
net income | 68,800,000 | 23,500,000 | 150,100,000 | 6,800,000 | 7,200,000 | -7,400,000 | 63,100,000 | 338,700,000 | 154,500,000 | 141,600,000 | 237,700,000 | 121,000,000 | 127,700,000 | 212,900,000 | 244,400,000 | 264,200,000 | 198,700,000 | 126,100,000 | -226,100,000 | 118,200,000 | 135,300,000 | 93,300,000 | 23,800,000 | 82,700,000 | 90,200,000 | |
yoy | 855.56% | -417.57% | 137.88% | -97.99% | -95.34% | -55.44% | 42.49% | 27.69% | -33.49% | -2.74% | -54.20% | -35.73% | 68.83% | -208.09% | 123.52% | 46.86% | 35.16% | -1050.00% | 42.93% | 50.00% | ||||||
qoq | 192.77% | -84.34% | 2107.35% | -5.56% | -197.30% | -111.73% | -81.37% | 119.22% | -40.43% | 96.45% | -5.25% | -40.02% | -12.89% | -7.49% | 32.96% | 57.57% | -155.77% | -291.29% | -12.64% | 45.02% | 292.02% | -71.22% | -8.31% | |||
net income margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | Infinity% | Infinity% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 14.56% | Infinity% | 10.22% | -Infinity% | 7.31% | 8.23% | 6.39% | Infinity% | 5.49% | Infinity% |
attributable to shareholders | 69,100,000 | 24,300,000 | 150,200,000 | 7,100,000 | 6,600,000 | -7,600,000 | 63,000,000 | 337,700,000 | 154,200,000 | 141,200,000 | 236,500,000 | 120,900,000 | 127,600,000 | 212,600,000 | 244,200,000 | 264,300,000 | 198,800,000 | 126,300,000 | -226,000,000 | 118,400,000 | 135,600,000 | 93,400,000 | 24,000,000 | 82,700,000 | 90,300,000 | |
attributable to non-controlling interest | -300,000 | -800,000 | -100,000 | -300,000 | 600,000 | 200,000 | 100,000 | 1,000,000 | 300,000 | 400,000 | 1,200,000 | 100,000 | 100,000 | 300,000 | 200,000 | -100,000 | -100,000 | -200,000 | -100,000 | -200,000 | -300,000 | -100,000 | -200,000 | -100,000 | ||
basic earnings per share - continuing operations | 1.05 | 0.79 | 2.21 | 0.38 | ||||||||||||||||||||||
diluted earnings per share - continuing operations | 1.04 | 0.79 | 2.19 | 0.37 | ||||||||||||||||||||||
basic loss per share - discontinued operations | -0.11 | -0.46 | -0.15 | -0.28 | ||||||||||||||||||||||
diluted loss per share - discontinued operations | -0.1 | -0.46 | -0.15 | -0.28 | ||||||||||||||||||||||
basic earnings per share | 0.94 | 0.33 | 2.06 | 0.1 | 0.09 | -0.1 | 0.82 | 4.34 | 1.96 | 1.79 | 3 | 1.49 | 1.57 | 2.54 | 2.87 | 2.27 | -2.58 | 0.25 | 0.93 | |||||||
diluted earnings per share | 0.94 | 0.33 | 2.04 | 0.09 | 0.09 | -0.1 | 0.81 | 4.26 | 1.92 | 1.76 | 2.94 | 1.46 | 1.53 | 2.46 | 2.79 | 2.22 | -2.58 | 0.25 | 0.92 | |||||||
other comprehensive income | ||||||||||||||||||||||||||
items that will be reclassified subsequently to net income | ||||||||||||||||||||||||||
net changes in fair value of derivatives designated as cash flow hedges | -19.3 | -26.8 | -21.1 | |||||||||||||||||||||||
net changes in unrealized gain on translation of foreign operations | -1.1 | 4.1 | -2.8 | |||||||||||||||||||||||
income tax (expense) recovery | 5.1 | 7.1 | 5.7 | |||||||||||||||||||||||
items that will not be reclassified subsequently to net income | ||||||||||||||||||||||||||
actuarial gains on defined benefit pension plans | 1.6 | -8.7 | 11 | |||||||||||||||||||||||
gain on fair value of restricted investments | 0.1 | 0.1 | 0.1 | |||||||||||||||||||||||
total other comprehensive income | -14.1 | -22.2 | -9.9 | |||||||||||||||||||||||
total comprehensive income | -7.3 | -15 | -17.3 | |||||||||||||||||||||||
total comprehensive income attributable to shareholders | ||||||||||||||||||||||||||
continuing operations | 17 | 19.1 | 29.6 | |||||||||||||||||||||||
discontinued operations | -23.7 | -35 | -47.4 | |||||||||||||||||||||||
income tax recovery | ||||||||||||||||||||||||||
total other comprehensive loss | ||||||||||||||||||||||||||
loss on fair value of restricted investments | ||||||||||||||||||||||||||
foreign exchange (gain) loss on long-term debt | 132,600,000 | -200,000 | 16,200,000 | -75,100,000 | -99,300,000 | -9,400,000 | -94,400,000 | 9,500,000 | 800,000 | 10,200,000 | ||||||||||||||||
other operating income | -3,700,000 | |||||||||||||||||||||||||
impairment charge | 5,700,000 | 171,400,000 | ||||||||||||||||||||||||
foreign exchange gain on long-term debt | -9,900,000 | 26,100,000 | ||||||||||||||||||||||||
revenues by category | ||||||||||||||||||||||||||
powersports | ||||||||||||||||||||||||||
year-round products | 759,700,000 | 621,200,000 | 705,100,000 | 725,000,000 | 734,600,000 | 597,600,000 | ||||||||||||||||||||
seasonal products | 671,400,000 | 322,700,000 | 542,700,000 | 554,800,000 | 428,500,000 | 577,600,000 | ||||||||||||||||||||
powersports pa&a and oem engines | 256,800,000 | 209,000,000 | 215,400,000 | |||||||||||||||||||||||
marine | 127,200,000 | 80,400,000 | 152,700,000 | 138,100,000 | 122,700,000 | 128,000,000 | ||||||||||||||||||||
total revenues | 1,815,100,000 | 1,233,300,000 | 1,615,900,000 | 1,643,600,000 | 1,459,500,000 | 1,505,900,000 | ||||||||||||||||||||
yoy | 12.33% | -15.50% | 7.30% | |||||||||||||||||||||||
qoq | -1.69% | 12.61% | ||||||||||||||||||||||||
as a percentage of revenues | 27,700,000 | 20,100,000 | 23,700,000 | 26,900,000 | 22,500,000 | 22,200,000 | ||||||||||||||||||||
net financing costs | 23,500,000 | 27,700,000 | 24,600,000 | 23,800,000 | 20,400,000 | 19,200,000 | ||||||||||||||||||||
normalized ebitda [1] | 313,100,000 | 214,300,000 | 268,200,000 | 167,700,000 | ||||||||||||||||||||||
normalized net income [1] | 162,800,000 | 100,900,000 | 136,700,000 | 68,800,000 | ||||||||||||||||||||||
[1] | ||||||||||||||||||||||||||
the accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements. | ||||||||||||||||||||||||||
normalized ebitda [2] | 221,800,000 | |||||||||||||||||||||||||
normalized net income [2] | 100,200,000 | |||||||||||||||||||||||||
powersports pac and oem engines | 225,700,000 | 173,700,000 | 202,700,000 | |||||||||||||||||||||||
revenues by category [2] | ||||||||||||||||||||||||||
normalized ebitda [3] | 181,900,000 | |||||||||||||||||||||||||
normalized net income [3] | 85,800,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2020-01-31 |
|---|---|
revenues by geography | |
united states | 856,200,000 |
canada | 238,900,000 |
international [2] | 520,800,000 |
declared dividends per share | 100,000 |
weighted-average number of shares – basic | 88,617,489,000,000 |
weighted-average number of shares – diluted | 89,888,161,000,000 |
earnings per share – basic | 1,340,000 |
earnings per share – diluted | 1,320,000 |
normalized earnings per share – basic [3] | 1,130,000 |
normalized earnings per share – diluted [3] | 1,120,000 |
[1] | |
[2] | |
[3] | |
cash | 42,500,000 |
working capital | |
property, plant and equipment | 1,027,400,000 |
total assets | 3,767,100,000 |
total non-current financial liabilities | 1,883,800,000 |
total liabilities | 4,356,800,000 |
shareholders deficit |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-04 | 2025-08-29 | 2025-05-29 | 2024-12-06 | 2024-09-06 | 2024-05-31 | 2023-11-30 | 2023-09-07 | 2023-06-01 | 2022-11-30 | 2022-09-14 | 2022-06-03 | 2021-12-01 | 2021-09-02 | 2021-06-03 | 2020-11-25 | 2020-08-27 | 2020-05-28 | 2020-03-20 | 2019-11-27 | 2019-08-29 | 2019-05-30 | 2018-11-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | |||||||||||||||||||||||
net income | 242,400,000 | 173,600,000 | 150,100,000 | 6,600,000 | -200,000 | -7,400,000 | 556,300,000 | 493,200,000 | 154,500,000 | 500,300,000 | 358,700,000 | 121,000,000 | 585,000,000 | 457,300,000 | 244,400,000 | 98,700,000 | -100,000,000 | -226,100,000 | 370,600,000 | 252,400,000 | 117,100,000 | 23,800,000 | 144,600,000 |
non-cash and non-operating items: | |||||||||||||||||||||||
depreciation expense | 337,300,000 | 219,500,000 | 106,500,000 | 320,100,000 | 210,700,000 | 103,700,000 | 288,600,000 | 188,100,000 | 92,400,000 | 220,400,000 | 144,100,000 | 71,300,000 | 199,100,000 | 131,700,000 | 65,800,000 | 192,800,000 | 128,200,000 | 63,900,000 | 234,100,000 | 170,900,000 | 111,500,000 | 54,800,000 | 123,700,000 |
income tax expense | 6,900,000 | -20,600,000 | 10,700,000 | 48,900,000 | 23,800,000 | 14,400,000 | 169,200,000 | 117,200,000 | 41,200,000 | 208,500,000 | 130,700,000 | 48,700,000 | 202,900,000 | 151,000,000 | 65,700,000 | 60,700,000 | -8,300,000 | -8,400,000 | 135,100,000 | 90,000,000 | 41,100,000 | 19,600,000 | 77,800,000 |
foreign exchange loss on long-term debt | -88,300,000 | -119,500,000 | -126,400,000 | 107,700,000 | 81,900,000 | 70,200,000 | 107,300,000 | -33,600,000 | 43,400,000 | 148,600,000 | 16,000,000 | 16,200,000 | -75,100,000 | -19,600,000 | -10,200,000 | 84,200,000 | 9,900,000 | 400,000 | 400,000 | 25,700,000 | 69,000,000 | ||
interest expense and transaction costs | 151,100,000 | 139,300,000 | 150,800,000 | 86,200,000 | 71,500,000 | 40,800,000 | 14,800,000 | 87,700,000 | 73,500,000 | 59,600,000 | 85,400,000 | 59,500,000 | 33,100,000 | 78,500,000 | 58,300,000 | 36,700,000 | 48,800,000 | ||||||
unrealized foreign exchange loss on other working capital items | 14,900,000 | 35,000,000 | |||||||||||||||||||||
other | 7,500,000 | 6,200,000 | -300,000 | 27,200,000 | 10,100,000 | 4,300,000 | 12,400,000 | 2,100,000 | 2,800,000 | 1,300,000 | 7,100,000 | 38,700,000 | 32,000,000 | 18,800,000 | -3,300,000 | -7,500,000 | 3,100,000 | 9,600,000 | 10,000,000 | 2,600,000 | 900,000 | 2,100,000 | |
cash flows generated from operations before changes in working capital | 671,800,000 | 382,100,000 | 183,400,000 | 649,800,000 | 417,600,000 | 230,200,000 | 1,284,600,000 | 853,200,000 | 376,400,000 | 1,150,600,000 | 690,300,000 | 279,000,000 | 1,054,900,000 | 796,500,000 | 379,200,000 | 578,500,000 | 238,800,000 | 121,200,000 | 837,800,000 | 582,000,000 | 309,400,000 | 142,900,000 | 466,000,000 |
changes in working capital: | |||||||||||||||||||||||
decrease in trade and other receivables | 16,700,000 | 110,700,000 | 80,900,000 | 149,500,000 | 268,000,000 | 156,200,000 | 138,600,000 | 193,500,000 | 80,800,000 | 70,800,000 | 44,000,000 | -180,400,000 | -1,300,000 | 26,000,000 | 130,300,000 | 205,400,000 | 111,700,000 | 7,400,000 | 101,700,000 | 41,600,000 | 4,600,000 | ||
increase in inventories | -101,900,000 | -8,400,000 | -53,500,000 | -28,500,000 | -17,600,000 | -276,000,000 | -79,700,000 | -186,100,000 | -753,600,000 | -537,600,000 | -335,700,000 | -225,600,000 | -309,300,000 | -146,100,000 | -102,800,000 | -249,900,000 | |||||||
increase in other assets | -2,500,000 | -7,800,000 | -50,300,000 | -41,900,000 | -26,300,000 | -200,000 | -45,800,000 | -68,600,000 | -47,400,000 | -23,500,000 | -46,200,000 | -5,400,000 | -18,700,000 | -7,500,000 | -8,400,000 | -200,000 | -21,800,000 | ||||||
increase in trade payables and accruals | 353,200,000 | 51,700,000 | -178,600,000 | -28,500,000 | 43,700,000 | 231,100,000 | 153,800,000 | 83,500,000 | -357,100,000 | -142,800,000 | 84,500,000 | 177,200,000 | 32,200,000 | 81,100,000 | 224,900,000 | ||||||||
increase in other financial liabilities | 16,800,000 | 12,800,000 | 400,000 | 14,800,000 | 9,600,000 | 17,800,000 | 5,200,000 | 8,700,000 | 1,900,000 | -26,100,000 | -16,200,000 | -16,300,000 | 7,300,000 | 40,300,000 | 72,200,000 | 20,800,000 | 23,300,000 | 14,500,000 | 2,300,000 | 35,900,000 | 21,400,000 | 5,600,000 | 16,100,000 |
decrease in provisions | -121,400,000 | -83,300,000 | -28,800,000 | ||||||||||||||||||||
increase in other liabilities | 7,900,000 | -25,000,000 | 52,200,000 | -19,900,000 | -13,600,000 | 10,800,000 | 10,400,000 | 6,400,000 | 5,700,000 | ||||||||||||||
cash flows generated from operations | 840,600,000 | 418,600,000 | 255,700,000 | 550,100,000 | 360,100,000 | 217,200,000 | 1,281,100,000 | 938,900,000 | 366,600,000 | 622,300,000 | 220,200,000 | -179,500,000 | 200,500,000 | 426,600,000 | 226,200,000 | 766,200,000 | 338,600,000 | 221,100,000 | 690,100,000 | 520,000,000 | 327,200,000 | 158,100,000 | 432,200,000 |
income taxes paid, net of refunds | -56,300,000 | -45,500,000 | -41,200,000 | -117,200,000 | -107,100,000 | -75,800,000 | -227,900,000 | -190,700,000 | -107,800,000 | -280,000,000 | -221,200,000 | -153,600,000 | -139,300,000 | -99,700,000 | -61,300,000 | -130,600,000 | -12,000,000 | -8,400,000 | -134,600,000 | -103,300,000 | -81,000,000 | -53,600,000 | -53,700,000 |
net cash flows generated from operating activities | 784,300,000 | 373,100,000 | 214,500,000 | 432,900,000 | 253,000,000 | 141,400,000 | 1,053,200,000 | 748,200,000 | 258,800,000 | 342,300,000 | -1,000,000 | -333,100,000 | 61,200,000 | 326,900,000 | 164,900,000 | 635,600,000 | 326,600,000 | 212,700,000 | 555,500,000 | 416,700,000 | 246,200,000 | 104,500,000 | 378,500,000 |
investing activities | |||||||||||||||||||||||
additions to property, plant and equipment | -187,500,000 | -115,500,000 | -45,100,000 | -279,000,000 | -165,300,000 | -66,800,000 | -333,100,000 | -204,900,000 | -111,200,000 | -353,100,000 | -192,200,000 | -92,600,000 | -319,900,000 | -208,400,000 | -85,500,000 | -146,300,000 | -68,200,000 | -34,900,000 | -280,700,000 | -164,500,000 | -95,200,000 | -39,000,000 | -173,200,000 |
additions to intangible assets | -30,700,000 | -18,400,000 | -9,400,000 | -20,800,000 | -15,500,000 | -8,400,000 | -25,600,000 | -15,500,000 | -6,600,000 | -43,400,000 | -28,800,000 | -16,400,000 | -44,800,000 | -20,500,000 | -11,700,000 | -13,000,000 | -10,200,000 | -8,400,000 | -50,000,000 | -38,400,000 | -24,200,000 | -13,200,000 | -7,600,000 |
proceeds of disposal from marine businesses | 23,700,000 | 18,200,000 | |||||||||||||||||||||
net cash flows from investing activities | -196,900,000 | -119,100,000 | -51,400,000 | -299,400,000 | -180,700,000 | -74,100,000 | -352,500,000 | -215,500,000 | -115,600,000 | -599,500,000 | -222,500,000 | -107,500,000 | -358,800,000 | -228,000,000 | -97,000,000 | -140,500,000 | -78,800,000 | -43,600,000 | -443,300,000 | -317,100,000 | -119,700,000 | -52,200,000 | -357,500,000 |
financing activities | |||||||||||||||||||||||
increase in bank overdraft | 15,100,000 | ||||||||||||||||||||||
issuance of long-term debt | 700,000 | 3,300,000 | 3,200,000 | 3,300,000 | 3,300,000 | 244,500,000 | 244,500,000 | 410,000,000 | 409,000,000 | 388,600,000 | 964,300,000 | 964,300,000 | 10,000,000 | 457,300,000 | 457,300,000 | 454,000,000 | 15,900,000 | 145,700,000 | |||||
long-term debt amendment fees | -4,400,000 | -900,000 | -1,900,000 | -1,900,000 | -20,000,000 | -19,700,000 | -19,500,000 | -41,900,000 | -41,900,000 | -6,700,000 | -6,500,000 | -6,500,000 | -6,500,000 | -8,900,000 | |||||||||
repayment of long-term debt | -318,800,000 | -31,400,000 | -6,900,000 | -36,400,000 | -29,500,000 | -6,500,000 | -37,900,000 | -29,500,000 | -8,100,000 | -94,800,000 | -88,500,000 | -5,900,000 | -774,100,000 | -768,800,000 | -762,900,000 | -15,700,000 | -9,200,000 | -4,800,000 | -19,000,000 | -12,900,000 | -6,400,000 | -3,400,000 | -9,400,000 |
repayment of lease liabilities | -45,300,000 | -29,100,000 | -14,000,000 | -39,700,000 | -26,300,000 | -12,800,000 | -35,800,000 | -23,400,000 | -11,700,000 | -25,600,000 | -16,600,000 | -8,200,000 | -27,000,000 | -17,600,000 | -8,700,000 | -25,400,000 | -16,900,000 | -8,400,000 | -30,500,000 | -23,000,000 | -15,300,000 | -7,400,000 | |
interest paid | -135,400,000 | -86,000,000 | -41,900,000 | -133,200,000 | -88,600,000 | -43,700,000 | -126,000,000 | -83,400,000 | -40,800,000 | -63,100,000 | -35,600,000 | -13,200,000 | -40,700,000 | -27,700,000 | -14,900,000 | -68,800,000 | -44,700,000 | -19,700,000 | -75,500,000 | -56,500,000 | -34,800,000 | -17,300,000 | -37,600,000 |
issuance of subordinate voting shares | 12,600,000 | 600,000 | 13,600,000 | 13,300,000 | 8,500,000 | 16,500,000 | 15,300,000 | 8,400,000 | 5,200,000 | 4,500,000 | 2,500,000 | 64,100,000 | 11,700,000 | 8,900,000 | 19,000,000 | 3,600,000 | 100,000 | 12,000,000 | 7,200,000 | 2,300,000 | 400,000 | 6,200,000 | |
repurchase of subordinate voting shares | -215,100,000 | -215,100,000 | -47,300,000 | -367,100,000 | -210,400,000 | -49,600,000 | -305,500,000 | -305,500,000 | -55,500,000 | -638,200,000 | -638,200,000 | -288,200,000 | -59,600,000 | -59,600,000 | -59,600,000 | -447,500,000 | -415,400,000 | -330,000,000 | -30,000,000 | -248,600,000 | |||
dividends paid | -47,100,000 | -31,300,000 | -15,600,000 | -46,500,000 | -31,100,000 | -15,800,000 | -41,900,000 | -28,100,000 | -14,200,000 | -38,200,000 | -25,600,000 | -13,000,000 | -32,400,000 | -21,900,000 | -11,000,000 | -37,200,000 | -28,300,000 | -19,400,000 | -9,700,000 | -26,600,000 | |||
net cash flows from financing activities | -533,900,000 | -174,000,000 | -78,900,000 | -443,100,000 | -378,800,000 | -117,700,000 | -177,700,000 | -80,400,000 | -54,900,000 | -182,800,000 | |||||||||||||
effect of exchange rate changes on cash and cash equivalents | 16,600,000 | 11,600,000 | 48,100,000 | -36,500,000 | -19,900,000 | -24,000,000 | -27,700,000 | 9,200,000 | -17,200,000 | -29,300,000 | 9,000,000 | -2,400,000 | 10,400,000 | 8,500,000 | 5,200,000 | ||||||||
net increase in cash and cash equivalents | 70,100,000 | 91,600,000 | 132,300,000 | -346,100,000 | -326,400,000 | -74,400,000 | 81,300,000 | 186,200,000 | 10,700,000 | -1,291,400,000 | -970,300,000 | -634,800,000 | |||||||||||
cash and cash equivalents at the beginning of period | 180,000,000 | 180,000,000 | 180,000,000 | 491,800,000 | 491,800,000 | 491,800,000 | 202,300,000 | 202,300,000 | 202,300,000 | 265,800,000 | 265,800,000 | 265,800,000 | 1,325,700,000 | 1,325,700,000 | 1,325,700,000 | ||||||||
cash and cash equivalents at the end of period | 250,100,000 | 271,600,000 | 312,300,000 | 145,700,000 | 165,400,000 | 417,400,000 | 283,600,000 | 388,500,000 | 213,000,000 | 59,900,000 | 59,100,000 | 55,300,000 | 34,300,000 | 355,400,000 | 690,900,000 | ||||||||
foreign exchange (gain) loss on long-term debt | |||||||||||||||||||||||
unrealized foreign exchange (gain) loss on other working capital items | |||||||||||||||||||||||
net cash flows used in investing activities | |||||||||||||||||||||||
net cash flows used in financing activities | |||||||||||||||||||||||
interest expense | 87,900,000 | 42,800,000 | 91,300,000 | 45,000,000 | 42,100,000 | 18,100,000 | |||||||||||||||||
decrease in inventories | 42,000,000 | -703,100,000 | -279,900,000 | -220,300,000 | 127,400,000 | 287,300,000 | 79,300,000 | ||||||||||||||||
decrease in other assets | 2,200,000 | -23,500,000 | 32,400,000 | -16,300,000 | 100,000 | ||||||||||||||||||
decrease in trade payables and accruals | -24,100,000 | -99,800,000 | -236,100,000 | -162,400,000 | -23,100,000 | -157,600,000 | -53,600,000 | -2,700,000 | |||||||||||||||
increase in provisions | -97,600,000 | -36,800,000 | -17,300,000 | 5,600,000 | 39,000,000 | 208,800,000 | 174,000,000 | 75,100,000 | 178,500,000 | 108,900,000 | 23,500,000 | 1,900,000 | -108,200,000 | -40,100,000 | 42,800,000 | 16,100,000 | 23,900,000 | 10,600,000 | -7,600,000 | -13,400,000 | |||
decrease in other liabilities | -9,500,000 | -7,700,000 | -43,100,000 | -34,200,000 | -29,800,000 | -28,100,000 | -22,100,000 | -131,700,000 | -27,100,000 | -1,300,000 | -23,100,000 | -13,800,000 | -5,700,000 | -2,500,000 | |||||||||
decrease (increase) in other assets | |||||||||||||||||||||||
net gain on disposal of property, plant and equipment | -100,000 | ||||||||||||||||||||||
business combinations, net of acquired cash | -208,800,000 | -113,200,000 | -114,400,000 | -177,500,000 | |||||||||||||||||||
increase in revolving credit facilities | 686,600,000 | ||||||||||||||||||||||
net cash flows generated from financing activities | -591,700,000 | -355,700,000 | -115,300,000 | 80,600,000 | 7,800,000 | 232,500,000 | -1,004,200,000 | -1,077,700,000 | -707,900,000 | 771,500,000 | 794,700,000 | 596,900,000 | 40,900,000 | ||||||||||
increase in trade and other receivables | -58,900,000 | -17,100,000 | |||||||||||||||||||||
net cash flows generated from (used in) financing activities | |||||||||||||||||||||||
net cash flows generated from (used in) operating activities | |||||||||||||||||||||||
cash flows generated from (used in) operations | |||||||||||||||||||||||
increase in revolving credit facilities and bank overdraft | 365,100,000 | 237,400,000 | 327,800,000 | 58,500,000 | -1,800,000 | ||||||||||||||||||
net decrease in cash and cash equivalents | -205,900,000 | -206,700,000 | -210,500,000 | ||||||||||||||||||||
foreign exchange gain on long-term debt | -58,900,000 | -49,000,000 | |||||||||||||||||||||
net loss on disposal of property, plant and equipment | 400,000 | -13,300,000 | |||||||||||||||||||||
impairment charge | 177,100,000 | 177,100,000 | 171,400,000 | ||||||||||||||||||||
proceeds on disposal of property, plant and equipment | 100,000 | 200,000 | 19,200,000 | 200,000 | |||||||||||||||||||
net (gain) loss on disposal of property, plant and equipment | |||||||||||||||||||||||
decrease in revolving credit facilities | -300,000 | -1,300,000 | |||||||||||||||||||||
effect of exchange rate changes on cash | 200,000 | 1,100,000 | -7,800,000 | 8,000,000 | 4,700,000 | 3,000,000 | -1,800,000 | -2,700,000 | |||||||||||||||
net increase in cash | 1,266,800,000 | 1,043,600,000 | 758,200,000 | 23,900,000 | 170,400,000 | ||||||||||||||||||
cash at the beginning of period | 42,500,000 | 42,500,000 | 42,500,000 | 100,000,000 | 100,000,000 | 100,000,000 | |||||||||||||||||
cash at the end of period | 1,309,300,000 | 1,086,100,000 | 800,700,000 | 123,900,000 | 270,400,000 | 95,600,000 | 61,500,000 | ||||||||||||||||
the accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements. | |||||||||||||||||||||||
1. | |||||||||||||||||||||||
repurchase of stock options | -28,000,000 | ||||||||||||||||||||||
net decrease in cash | -57,500,000 | -4,400,000 | -164,500,000 | ||||||||||||||||||||
cash at the beginning of year | 100,000,000 | ||||||||||||||||||||||
cash at the end of year | 42,500,000 | ||||||||||||||||||||||
cash at beginning of period | 226,000,000 | ||||||||||||||||||||||
cash at end of period | |||||||||||||||||||||||
revenues | |||||||||||||||||||||||
cost of sales | |||||||||||||||||||||||
gross profit | |||||||||||||||||||||||
operating expenses | |||||||||||||||||||||||
selling and marketing | |||||||||||||||||||||||
research and development | |||||||||||||||||||||||
general and administrative | |||||||||||||||||||||||
other operating expenses | |||||||||||||||||||||||
total operating expenses | |||||||||||||||||||||||
operating income | |||||||||||||||||||||||
financing costs | |||||||||||||||||||||||
financing income | |||||||||||||||||||||||
income before income taxes | |||||||||||||||||||||||
attributable to shareholders | |||||||||||||||||||||||
attributable to non-controlling interest | |||||||||||||||||||||||
basic earnings per share | |||||||||||||||||||||||
diluted earnings per share |