2021 distributions increased by 5% - 12th consecutive annual increase
BROOKFIELD, NEWS, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) today announced its results for the fourth quarter ended December 31, 2020.
“2020 provided a unique backdrop to showcase the resilience and strength of our business,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “We were also able to invest in high quality assets that were immediately accretive to our results. We are beginning 2021 with a robust liquidity position which will allow us to pursue attractive opportunities and convert them into meaningful investments.”
| For the three months ended December 31, |
For the year ended December 31, |
||||||||||||
| US$ millions (except per unit amounts), unaudited1 | 2020 |
2019 | 2020 |
2019 | |||||||||
| Net income2 | $331 | $23 | $394 | $233 | |||||||||
| – per unit3,4 | $0.58 | $(0.06 | ) | $0.35 | $0.06 | ||||||||
| FFO5 | $398 | $358 | $1,454 | $1,384 | |||||||||
| – per unit (split-adjusted)6 | $0.86 | $0.77 | $3.13 | $3.06 | |||||||||
Brookfield reported net income for the year of
Funds from Operations (or FFO) for 2020 totaled
Segment Performance
Our utilities segment generated FFO of
FFO from our transport segment was
FFO from our midstream segment totaled
Our data segment delivered FFO of
The following table presents FFO by segment:
| For the three months ended December 31, |
For the year ended December 31, |
||||||||||||||
| US$ millions, unaudited | 2020 |
2019 |
2020 |
2019 |
|||||||||||
| FFO by segment | |||||||||||||||
| Utilities | $168 | $178 | $659 | $672 | |||||||||||
| Transport | 170 | 147 | 590 | 603 | |||||||||||
| Midstream | 86 | 64 | 289 | 244 | |||||||||||
| Data | 61 | 42 | 196 | 136 | |||||||||||
| Corporate | (87 | ) | (73 | ) | (280 | ) | (271 | ) | |||||||
| FFO | $398 | $358 | $1,454 | $1,384 | |||||||||||
Update on Strategic Initiatives
We completed several important initiatives in 2020:
- Deployed
$2.5 billion in new investments and organic capital projects - Expanded our presence in India’s rapidly expanding data infrastructure sector with the acquisition of a large-scale portfolio of telecom towers and made an investment in a world class LNG export terminal that is contributing to global decarbonization efforts.
- Generated over
$700 million through capital recycling – Completed four sale processes and several asset-level financings that produced over$700 million of proceeds, resulting in an average after-tax IRR of approximately 20% and approximately three times multiple of capital.
In addition, we recently reached an agreement to sell our North American district energy business in two separate transactions for total consideration of
Distribution and Dividend Increase
The Board of Directors has declared a quarterly distribution in the amount of
Additional Information
The Board has reviewed and approved this news release, including the summarized unaudited financial information contained herein.
Brookfield Infrastructure’s Letter to Unitholders and Supplemental Information are available at www.brookfield.com/infrastructure.
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with approximately $600 billion of assets under management. For more information, go to www.brookfield.com.
Please note that Brookfield Infrastructure Partners’ previous audited annual and unaudited quarterly reports have been filed on SEDAR and Edgar, and can also be found in the shareholders section of its website at www.brookfield.com/infrastructure. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.
For more information, please contact:
| Media: | Investors: |
| Claire Holland | Kate White |
| Senior Vice President, Communications | Manager, Investor Relations |
| Tel: (416) 369-8236 | Tel: (416) 956-5183 |
| Email: [email protected] | Email: [email protected] |
Conference Call and Quarterly Earnings Details
Investors, analysts and other interested parties can access Brookfield Infrastructure’s 2020 Year-End Results as well as the Letter to Unitholders and Supplemental Information on Brookfield Infrastructure’s website under the Investor Relations section at www.brookfield.com/infrastructure.
The conference call can be accessed via webcast on February 3, 2021 at 9:00 a.m. Eastern Time at https://edge.media-server.
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