The relaunch of the iconic Indian motorcycle marque in the latter part of last year helped US powersports manufacturer Polaris Industries to its best-ever annual financial results for 2013.
Total revenue for the 12 months climbed by 18 per cent to £2.28bn. Within that, the company’s domination of the US quadbike and side-by-side ATV market played the biggest role by far, as global ATV segment sales grew by 13 per cent to £1.52bn. Polaris motorcycle sales — encompassing the Victory and now Indian brands — were up by 12 per cent, contributing £132.9m.
However, a huge fourth-quarter boost in motorcycle performance starkly reflected Indian’s successful retail roll-out in that period — albeit in a niche sector that is hardly likely to trouble Harley-Davidson. Bike revenue in the final three months of 2013 almost doubled, jumping by 94 per cent to £41.6m.
Overall annual operating profit increased by 21 per cent to £349.3m. Net profit rose by 22 per cent to £230.3m.
“2013 marked a fourth consecutive year of greater than 15 per cent growth in both revenue and earnings,” commented Polaris chairman and chief executive Scott Wine. “Sales and net income have more than doubled since 2009, testifying to the strength of our strategic plan that has served as a roadmap over the past five years as well as our relentless execution of its core principles. The plan keeps us focused on investing for organic growth in our principal powersports businesses, expanding our global footprint, diversifying into market adjacencies and enhancing operational efficiencies. The past year was one of the most transformative in the company’s history.”