Brookfield Business Partners Reports 2025 Year End Results

Executive Summary

• Brookfield Business Partners reported a net income of $43 million for FY 2025 (loss of $0.30 per unit), reversing the prior‑year loss of $109 million (‑$0.50 per unit).
• Adjusted EBITDA fell to $2,409 million, down from $2,565 million a year earlier, reflecting tax recoveries and lower ownership in three businesses after partial disposals.
• The company announced a $480 million capital deployment to acquire Fosber (35% stake for ~$170 million equity) and confirmed progress on its corporate re‑organization, with shareholder approval received and court sanction expected by Q1 2026.

Key Details

• Financial Highlights (FY 2025 vs FY 2024)
• Net income attributable to unitholders: $43 M vs $(109) M.
• Adjusted EBITDA: $2,409 M vs $2,565 M.
• Liquidity at year‑end: $2,135 M (including $2,020 M of credit facility availability).
• Segment Adjusted EBITDA
• Industrials: $1,281 M (10% increase YoY, excluding acquisitions/dispositions).
• Business Services: $823 M (‑1% YoY).
• Infrastructure Services: $436 M (‑28% YoY).
• Adjusted EFO (segment profit/loss) – total $1,494 M, down from $2,263 M in FY 2024.
• Capital Deployment – Agreement to acquire Fosber for a 35% equity interest; transaction valued at ~$480 M, with BBU contributing approximately $170 M of equity. Expected close H1 2026 pending regulatory approvals.
• Corporate Reorganization – Special meetings held Jan 13 2026; security‑holder approval obtained. Supreme Court of British Columbia approved on Jan 16 2026. Completion targeted by end of Q1 2026, subject to final regulatory consents.
• Share Repurchase Program – $72 M used to buy back 2.1 M units/shares at ~$34 per unit; total repurchases to date $235 M for 8.8 M units/shares under the NCIB.
• Dividend Outlook – Anticipated quarterly dividend of $0.0625 per share payable March 31 2026, with an annualized rate of $0.25 per share thereafter.
• Liquidity Position – Pro‑forma liquidity (including announced transactions and incentive distribution) estimated at ~$2,600 M.

Notable Quotes

“We had a great year, generating over $2 billion from our capital recycling initiatives, investing $700 million in four growth acquisitions and repurchasing $235 million of our units and shares at a significant discount to intrinsic value,” – Anuj Ranjan, CEO, Brookfield Business Partners.

All forward‑looking statements are subject to the customary risk factors disclosed in the company’s filings.