Polaris 2013 Annual Report Download - page 8

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$1.1 Billion
First time exceeded the
billion-dollar mark.
$2.6 Billion
$3.2 Billion
$3.8 Billion
GOAL - $8.0 Billion
SALES ACCELERATION
3-YEAR CAGR
24%
23percent and operating cash flow reaching
nearly $500million, our financial results were
arguably better than our operational performance.
As we attempted to reconcile our less-than-stellar
execution with our excellent financial returns,
we realized that disparity exemplifies what makes
a team great: they are relentless about finding
a way to win. In addition to having a clear
strategy and objectives, we have a talented and
experienced leadership team that promotes
teamwork, and makes timely and fit decisions —
which leads to quick and effective execution.
From the work Steve Menneto is doing to build
Indian Motorcycle® into the exemplary model
for these initiatives, to the energy Craig Scanlon
brings to Camp RZR and building both brand
and customer loyalty, we are finding ways to win
beyond the traditional “product and promotions.”
We will continue to win that game, of course,
but to take our businesses to a higher level we
intend to change how the game is played. Polaris
has grown and changed significantly from the
little company that Edgar and Allan Hetteen and
David Johnson founded 60years ago in Roseau,
Minnesota. But just as they relied on innovation
and hard work to satisfy customers, we will strive
to do the same in the decadesahead.
Sincerely,
Scott W. Wine
Chairman and Chief Executive Officer
Bennett J. Morgan
President and Chief Operating Officer
As markets become more competitive, and some
environments more challenging, we will continue
to innovate not only our vehicles, but also the way
we operate. We are excited about our renewed
pursuit of Customer Excellence, which along
with our Lean Enterprise initiative will provide the
framework for an important transformation on how
we conductbusiness.
WE ARE PLEASED WITH OUR
PERFORMANCE AND PROGRESS
IN 2013 AND OVER THE PAST
FIVE YEARS, BUT WE ARE FAR
FROM COMPLACENT.
04
SHAREHOLDER LETTER