Brunswick Corporation (BC) 2017年年度报告「NYSE」.pdf

1、ANNUAL REPORT2017March 22,2018Dear Fellow Shareholders:On behalf of our Board of Directors and the more than 15,000 employees around the world whom I am privileged to lead,thank you for your investment and continued confidence in Brunswick Corporation.Our story dates back nearly 175 years,and we all

2、 contribute to a long legacy of product leadership.Our team works hard every day to enhance that legacy.We are humbled and gratified by the work.2017 FINANCIAL PERFORMANCE2017 marked Brunswicks eighth consecutive year of growth,primarily resulting from strong operating performance from our marine bu

3、sinesses.Highlights include the following:Consolidated net sales of approximately$4.5 billion increased 9 percent versus 2016,and 8 percent on a constant currencybasis.This was due to strong growth from our outboard engine business and in all three primary boat categories,along with solidgrowth in o

4、ur marine parts&accessories(P&A)businesses.On a GAAP basis,operating earnings decreased 13 percent versus the prior year,while adjusted operating earnings were up5 percent versus 2016.Strong cash flow of$243.1 million enabled the Company to continue executing its capital strategy,which included inve

5、stmentsin new products as well as capacity expansions across all segments.We also completed the Lankhorst Taselaar acquisition toexpand and enhance our European marine P&A operations.We also enhanced shareholder returns by repurchasing$130 million of Brunswick common stock,and increased quarterlycas

6、h dividends paid to shareholders by 15 percent in 2017.Beyond these achievements,Brunswick continued to demonstrate its product leadership in marine and fitness markets by introducing a variety of new products and features.In early 2018,a completely redesigned platform of V6 outboard engines was int