From GlobeNewswire: 2025-01-31 06:45:00

Brookfield Business Partners reported financial results for the year ended December 31, 2024, with a net loss of $109 million compared to net income of $1,405 million in the prior year. Adjusted EBITDA for 2024 was $2,565 million, reflecting improved performance. The company’s segments, Industrials, Business Services, and Infrastructure Services, also showed positive results.

Brookfield Business Partners announced strategic initiatives including raising $5 billion in new debt for its advanced energy storage operation and completing the sale of its offshore oil services. The company also allocated $250 million for a unit repurchase program and acquired Chemelex, a leading manufacturer. With approximately $1.3 billion in liquidity at the corporate level, the company is well-positioned for growth.

Brookfield Business Corporation, the parent company, reported a net loss of $888 million for the year ended December 31, 2024, compared to net income of $519 million in 2023. A remeasurement loss on exchangeable and class B shares was included in the current year’s results. The Board declared a quarterly dividend of $0.0625 per share.

Investors should review all relevant information on Brookfield Business Partners and Brookfield Business Corporation’s websites. The companies caution that forward-looking statements involve risks and uncertainties, and Adjusted EBITDA is a non-IFRS measure. The companies remain committed to providing economic returns to their stakeholders and maintaining financial stability.



Read more at GlobeNewswire:: Brookfield Business Partners Reports 2024 Year End Results