Brookfield Business Partners Reports Strong 2024 Results Despite Market Volatility

Brookfield Business Partners (NYSE: BBU, BBUC; TSX: BBU.UN, BBUC) recently announced its financial results for the year ended December 31, 2024, showcasing a resilient performance amidst market volatility. The company generated over $2 billion from its capital recycling initiatives, acquired two market-leading operations, and achieved solid financial results. Anuj Ranjan, CEO of Brookfield Business Partners, attributed the success to the company's enhanced balance sheet and substantial liquidity, which provided optionality to advance capital allocation priorities.

The Industrials segment generated Adjusted EBITDA of $1,247 million in 2024, compared to $855 million in 2023. The increase was driven by tax benefits at the advanced energy storage operation, strong underlying performance, and growing contribution from water and wastewater services. The Business Services segment generated Adjusted EBITDA of $832 million in 2024, compared to $900 million in 2023. Strong performance at the residential mortgage insurer was offset by the impact of a cyber incident at the dealer software and technology services operation and reduced performance at construction and healthcare services operations. The Infrastructure Services segment generated Adjusted EBITDA of $606 million in 2024, compared to $853 million in 2023. Improved performance of offshore oil services offset reduced contribution at work access services.



Adjusted EFO for the year ended December 31, 2024, included $306 million in net gains primarily related to the dispositions of the road fuels operation and Canadian aggregates production operation, the sale of public securities, and the deconsolidation of the payment processing services operation. Infrastructure Services Adjusted EFO reflected the impact of the prior year disposition of the nuclear technology services operation. Prior year results included $2,006 million in after-tax net gains primarily related to the sale of the nuclear technology services operation.



Liquidity
We ended the year with approximately $1.3 billion of liquidity at the corporate level, including $91 million of cash and liquid securities, $25 million of remaining preferred equity commitment from Brookfield Corporation, and $1.2 billion of availability on our corporate credit facilities.



In conclusion, Brookfield Business Partners' strong 2024 results demonstrate the company's ability to navigate market volatility and generate value for unitholders. The company's focus on capital recycling initiatives, strategic acquisitions, and operational improvements has positioned it well for continued success in the coming years. As we look ahead to 2025, investors can expect Brookfield Business Partners to continue executing on its growth strategy and delivering solid financial performance.