Brookfield Infrastructure Reports Strong 2024 Year-End Results & Declares 16th Consecutive Distribution Increase

Core Insights - Brookfield Infrastructure Partners reported strong financial results for the year ended December 31, 2024, with a net income of $391 million, down from$432 million in 2023, but with funds from operations (FFO) increasing to $2.5 billion, an 8$2,468 million for 2024, compared to $2,288 million in 2023, reflecting an organic growth of 7$391 million, with a per unit income of $0.04, down from$0.14 in the previous year [2][29]. - Revenues for 2024 reached $21,039 million, up from$17,931 million in 2023, while direct operating costs increased to $15,676 million from$13,470 million [28]. Segment Performance - The utilities segment generated FFO of $760 million, down from$879 million in 2023, primarily due to asset sales [5]. - The transport segment saw a significant increase in FFO to $1,224 million, a nearly 40$625 million, an 11% increase year-over-year, despite a decrease from $684 million due to capital recycling activities [8]. - The data segment achieved FFO of$333 million, a 21% increase, driven by strong organic growth and new investments [9]. Strategic Initiatives - The company successfully achieved $2 billion in capital recycling proceeds in 2024 and anticipates$5-6 billion in asset sale proceeds over the next two years [10][12]. - Recent asset sales included a fiber platform in France and a natural gas transmission pipeline in Mexico, generating significant returns [11]. Distribution and Dividend - The Board of Directors declared a quarterly distribution of $0.43 per unit, representing a 6$4,653 million, compared to $4,078 million in 2023, while cash used in investing activities was$6,901 million [30]. - As of December 31, 2024, total assets amounted to $104,590 million, up from$100,784 million in 2023 [25][27].