Polaris and Indian 2017 Monetary Report

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A few days in the past we reported on the considerably gloomy information from Harley-Davidson about its year-end monetary assertion, through which it introduced a downturn in gross sales and the upcoming closure of its Kansas Metropolis, MO, manufacturing facility.

In the meantime, Polaris (mother or father firm of Indian Bikes and Slingshots) is portray a rosier image with its monetary assertion launched this week. Total gross sales income in 2017 was up from $four.516 billion to $5.428 billion. Bike gross sales made up 11% of Polaris’ gross sales earnings, they usually had been up 7% for the yr (excluding Victory).

Yr over yr, when it comes to retail gross sales, Indian is up within the mid-teens, percentage-wise, whereas Slingshot numbers have almost doubled. Polaris notes 900cc-plus bike gross sales are down within the excessive single-digits, however its bikes (together with Slingshot) are up round 30%. One other vibrant spot is worldwide motorbike gross sales, that are up 14%.

Polaris’ motorbike phase gross sales in This fall, together with PG&A, totaled $103 million, a lower of two% in comparison with the fourth quarter of 2016, however 2016 included $25 million of Victory Bike wholegood, accent and attire gross sales. Indian Bikes wholegood gross sales elevated within the high-single-digit p.c vary within the fourth quarter, whereas Slingshot gross sales greater than doubled.

When This fall outcomes are adjusted for the Victory Bikes wind-down prices of $three million, motorbike gross revenue was $eight million, up from the fourth quarter final yr as a consequence of larger gross sales quantity for each Indian Bikes and Slingshot, in addition to decrease guarantee prices.

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For 2018, Polaris expects its motorbike gross sales to be up within the excessive single-digits, percentage-wise, from $574 million.

“I’m happy with the Polaris staff and excited to see their dedication and onerous work repay as we returned the corporate to sustainable worthwhile development in 2017,” commented Scott Wine, Chairman and Chief Govt Officer of Polaris Industries. “Indian Bikes massively outperformed the motorbike business, constructing on its current momentum with a flood of product information and a really profitable yr on the race observe.”

Concerning Victory specifically, which was axed in January 2017, Polaris says the closure “is anticipated to enhance the long-term profitability of Polaris and its international motorbike enterprise, whereas materially enhancing the Firm’s aggressive place within the business. The Firm will file prices, anticipated to be within the vary of $80 million to $90 million by means of 2018, related to supporting Victory sellers in promoting their remaining stock, the disposal of manufacturing facility stock, tooling, and different bodily property, and the cancellation of assorted provider preparations.”

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