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At the end of its financial year on Jan. 31, BRP had $542.4 million of cash including $444.8 million of net cash flows from its operating activities.
The company earned $2.9 billion in revenue and a profit of $121 million in the financial year ended Jan. 31. That compared with a revenue of $2.65 billion and a profit of $83.5 million in the financial year ended Jan. 31, 2012.
A BRP logo is shown at the research and innovation plant in Valcourt, Que., Friday, November 9, 2012.
Consumer Product Safety Commission
It expects to spend about $140 million on capital projects in the current financial year, primarily to tool up for new products.
BRP says the timing of the IPO is to help the company pay down a US$146 million term loan that matures June 2013 and a US$510 million term loan maturing in June 2016.
BRP would not disclose how many shares it planned to sell or how much they would cost but said that information would be available in the coming weeks.
Beaudier Inc. is a family owned company controlled by Laurent Beaudoin, who is a former CEO of Bombardier Inc. and a son in law of Joseph Armand Bombardier, the Quebec inventor who founded the company.
The company is currently owned by a subsidiary of Bain Capital, the Beaudier group and the Caisse. Bain owns half the equity, the Beaudier group has a 35 per cent stake and the Caisse has 15 per cent.
The Nike Stefan Janoski Max Prm business was spun off from Bombardier Inc. private equity firm Bain Capital and the Caisse de depot for $960 million.
new vehicles, what not, said Pierre Pichette, vice president of communications and public affairs for BRP.
company currently intends to use its earnings to finance the expansion of its business and to reduce indebtedness. Any future determination to pay dividends on the shares will be at the discretion of the board of directors, the company said.
The company said it believes the outlook for the industry is positive due to the improving economic environment, growth in new product lines and growth in international markets.
BRP says it will also issue multiple voting shares to its current owners, who will continue to have Nike Janoski Max Price
are reshaping after the crisis. We think people will want to renew with new technology and Nike Sb Janoski Max Mid Shadow
BRP Inc. says it is planning an offering of subordinate voting shares in the Quebec Nike Sb Janoski Black Brown
based maker of snowmobiles, personal watercraft and all terrain vehicles.
significant influence over the company.
BRP said it does not anticipate paying any dividends on its shares after the offering.
In addition to Ski Doo, BRP also makes Lynx snowmobiles, Sea Doo watercraft and boats, Can Am all terrain vehicles and Evinrude outboard engines.
files for initial public offering of shares
want to reduce our long term debt, said Pichette.
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