BROOKFIELD, NEWS,
“We had an active quarter, reaching an agreement on the sale of a partial interest in three businesses, investing
| Three Months Ended | Six Months Ended | |||||||||
| US$ millions (except per unit amounts), unaudited | 2025 | 2024 | 2025 | 2024 | ||||||
| Net income (loss) attributable to Unitholders1 | $ | 26 | $ | (20 | ) | $ | 106 | $ | 28 | |
| Net income (loss) per limited partnership unit2 | $ | 0.12 | $ | (0.10 | ) | $ | 0.49 | $ | 0.13 | |
| Adjusted EBITDA3 | $ | 591 | $ | 524 | $ | 1,182 | $ | 1,068 | ||
Net income attributable to Unitholders for the three months ended
Adjusted EBITDA for the three months ended
Operational Update
The following table presents Adjusted EBITDA by segment:
| Three Months Ended | Six Months Ended | ||||||||||||
| US$ millions, unaudited | 2025 | 2024 | 2025 | 2024 | |||||||||
| Industrials | $ | 307 | $ | 213 | $ | 611 | $ | 441 | |||||
| Business Services | 205 | 182 | 418 | 387 | |||||||||
| 109 | 157 | 213 | 300 | ||||||||||
| Corporate and Other | (30 | ) | (28 | ) | (60 | ) | (60 | ) | |||||
| Adjusted EBITDA | $ | 591 | $ | 524 | $ | 1,182 | $ | 1,068 | |||||
Our Industrials segment generated Adjusted EBITDA of
Our Business Services segment generated Adjusted EBITDA of
Our
The following table presents Adjusted EFO4 by segment:
| Three Months Ended | Six Months Ended | ||||||||||||
| US$ millions, unaudited | 2025 | 2024 | 2025 | 2024 | |||||||||
| Adjusted EFO | |||||||||||||
| Industrials | $ | 154 | $ | 206 | $ | 284 | $ | 386 | |||||
| Business Services | 105 | 86 | 222 | 254 | |||||||||
| 38 | 76 | 204 | 148 | ||||||||||
| Corporate and Other | (63 | ) | (79 | ) | (131 | ) | (168 | ) | |||||
Adjusted EFO included the benefit of lower interest expense due to a reduction in corporate borrowings compared to the prior period. Industrials Adjusted EFO reflected the impact of higher interest expense related to the funding of a distribution received from our advanced energy storage operation during the current year. Adjusted EFO in the prior period included
Strategic Initiatives
Capital Recycling
In July, we completed the previously announced sale of a partial interest in three businesses to a new evergreen private equity fund managed by Brookfield Asset Management. In exchange, BBU will receive units of the new evergreen fund with an initial redemption value of approximately$690 million , representing an aggregate 8.6% discount to net asset value (NAV) of the interests sold. In the 18-month period following the initial close of the new evergreen fund, the units are expected to be redeemed for cash.
- Canadian Mortgage Lender
In July, we entered into a partnership to privatize First National Financial Corporation, a leading publicly-listed Canadian residential and multi-family mortgage lender, for$2.7 billion . The transaction is expected to be funded with approximately$1.3 billion of equity, of which BBU’s share is expected to be approximately$145 million for an 11% interest in the business. The transaction is expected to close later this year, subject to obtaining the required shareholder, court and regulatory approvals and the satisfaction of other customary closing conditions.
- Specialty Consumables and Equipment Manufacturer
In May, we completed the previously announced acquisition of Antylia Scientific, a leading manufacturer and distributor of critical consumables and testing equipment serving life sciences and environmental labs for approximately$1.3 billion . BBU invested$168 million for a 26% interest.
- Unit Repurchase Program
During the quarter, we invested$56 million to repurchase 2.2 million units and shares ofBrookfield Business Partners at an average price of approximately$25 per unit and share. Since the start of the year, our buyback program has returned$157 million to owners through the repurchase of 6.5 million units and shares under our normal course issuer bid (NCIB), which we plan to renew once it expires later this month.
Liquidity
We ended the quarter with approximately
Distribution
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 interim condensed consolidated financial statements contained herein.
Brookfield Business Partners’ Letter to Unitholders and the Supplemental Information are available on our website https://bbu.brookfield.com under Reports & Filings.
Notes:
1 Attributable to limited partnership unitholders, general partnership unitholders, redemption-exchange unitholders, special limited partnership unitholders and BBUC exchangeable shareholders.
2 Net income (loss) per limited partnership unit calculated as net income (loss) attributable to limited partners divided by the average number of limited partnership units outstanding for the three and six months ended
3 Adjusted EBITDA is a non-IFRS measure of operating performance presented as net income and equity accounted income at the partnership’s economic ownership interest in consolidated subsidiaries and equity accounted investments, respectively, excluding the impact of interest income (expense), net, income taxes, depreciation and amortization expense, gains (losses) on dispositions, net, transaction costs, restructuring charges, revaluation gains or losses, impairment expenses or reversals, other income or expenses, and preferred equity distributions. The partnership’s economic ownership interest in consolidated subsidiaries and equity accounted investments excludes amounts attributable to non-controlling interests consistent with how the partnership determines net income attributable to non-controlling interests in its unaudited interim condensed consolidated statements of operating results. The partnership believes that Adjusted EBITDA provides a comprehensive understanding of the ability of its businesses to generate recurring earnings which allows users to better understand and evaluate the underlying financial performance of the partnership’s operations and excludes items that the partnership believes do not directly relate to revenue earning activities and are not normal, recurring items necessary for business operations. Please refer to the reconciliation of net income (loss) to Adjusted EBITDA included in this news release.
4 Adjusted EFO is the partnership’s segment measure of profit or loss and is presented as net income and equity accounted income at the partnership’s economic ownership interest in consolidated subsidiaries and equity accounted investments, respectively, excluding the impact of depreciation and amortization expense, deferred income taxes, transaction costs, restructuring charges, unrealized revaluation gains or losses, impairment expenses or reversals and other income or expense items that are not directly related to revenue generating activities. The partnership’s economic ownership interest in consolidated subsidiaries excludes amounts attributable to non-controlling interests consistent with how the partnership determines net income attributable to non-controlling interests in its unaudited interim condensed consolidated statements of operating results. In order to provide additional insight regarding the partnership’s operating performance over the lifecycle of an investment, Adjusted EFO includes the impact of preferred equity distributions and realized disposition gains or losses recorded in net income, other comprehensive income, or directly in equity, such as ownership changes. Adjusted EFO does not include legal and other provisions that may occur from time to time in the partnership’s operations and that are one-time or non-recurring and not directly tied to the partnership’s operations, such as those for litigation or contingencies. Adjusted EFO includes expected credit losses and bad debt allowances recorded in the normal course of the partnership’s operations. Adjusted EFO allows the partnership to evaluate its segments on the basis of return on invested capital generated by its operations and allows the partnership to evaluate the performance of its segments on a levered basis.
Please note that Brookfield Business Partners’ previous audited annual and unaudited quarterly reports have been filed on SEDAR+ and EDGAR, and are available at https://bbu.brookfield.com under Reports & Filings. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.
For more information, please contact:
| Media: Tel: +44 207 408 8375 Email: [email protected] | Investors: Tel: +1 (416) 645-2736 Email: [email protected] |
Conference Call and Quarterly Earnings Webcast Details
Investors, analysts and other interested parties can access Brookfield Business Partners’ second quarter 2025 results as well as the Letter to Unitholders and Supplemental Information on our website https://bbu.brookfield.com under Reports & Filings.
The results call can be accessed via webcast on
| Consolidated Statements of Financial Position | |||||||||
| As at | |||||||||
| US$ millions, unaudited | |||||||||
| Assets | |||||||||
| Cash and cash equivalents | $ | 3,329 | $ | 3,239 | |||||
| Financial assets | 11,658 | 12,371 | |||||||
| Accounts and other receivable, net | 7,148 | 6,279 | |||||||
| Inventory and other assets | 5,808 | 5,728 | |||||||
| Property, plant and equipment | 10,591 | 13,232 | |||||||
| Deferred income tax assets | 1,959 | 1,744 | |||||||
| Intangible assets | 19,158 | 18,317 | |||||||
| Equity accounted investments | 2,397 | 2,325 | |||||||
| 13,287 | 12,239 | ||||||||
| Total Assets | $ | 75,335 | $ | 75,474 | |||||
| Liabilities and Equity | |||||||||
| Liabilities | |||||||||
| Corporate borrowings | $ | 1,116 | $ | 2,142 | |||||
| Accounts payable and other | 13,766 | 16,691 | |||||||
| Non-recourse borrowings in subsidiaries of the partnership | 42,493 | 36,720 | |||||||
| Deferred income tax liabilities | 2,639 | 2,613 | |||||||
| Equity | |||||||||
| Limited partners | $ | 2,291 | $ | 1,752 | |||||
| Non-controlling interests attributable to: | |||||||||
| Redemption-exchange units | 1,330 | 1,644 | |||||||
| Special limited partner | — | — | |||||||
| BBUC exchangeable shares | 1,805 | 1,721 | |||||||
| Preferred securities | 740 | 740 | |||||||
| Interest of others in operating subsidiaries | 9,155 | 11,451 | |||||||
| 15,321 | 17,308 | ||||||||
| Total Liabilities and Equity | $ | 75,335 | $ | 75,474 | |||||
| Consolidated Statements of Operating Results | |||||||||||||
| US$ millions, unaudited | Three Months Ended | Six Months Ended | |||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Revenues | $ | 6,695 | $ | 11,946 | $ | 13,444 | $ | 23,961 | |||||
| Direct operating costs | (5,465 | ) | (10,928 | ) | (10,867 | ) | (21,806 | ) | |||||
| General and administrative expenses | (271 | ) | (307 | ) | (582 | ) | (624 | ) | |||||
| Interest income (expense), net | (801 | ) | (778 | ) | (1,571 | ) | (1,574 | ) | |||||
| Equity accounted income (loss) | 23 | 31 | 15 | 54 | |||||||||
| Impairment reversal (expense), net | (14 | ) | — | (14 | ) | 10 | |||||||
| Gain (loss) on dispositions, net | 6 | 84 | 220 | 99 | |||||||||
| Other income (expense), net | (103 | ) | (100 | ) | (186 | ) | 16 | ||||||
| Income (loss) before income tax | 70 | (52 | ) | 459 | 136 | ||||||||
| Income tax (expense) recovery | |||||||||||||
| Current | (119 | ) | (122 | ) | (316 | ) | (212 | ) | |||||
| Deferred | 184 | 239 | 248 | 344 | |||||||||
| Net income (loss) | $ | 135 | $ | 65 | $ | 391 | $ | 268 | |||||
| Attributable to: | |||||||||||||
| Limited partners | $ | 11 | $ | (7 | ) | $ | 41 | $ | 10 | ||||
| Non-controlling interests attributable to: | |||||||||||||
| Redemption-exchange units | 6 | (6 | ) | 29 | 9 | ||||||||
| Special limited partner | — | — | — | — | |||||||||
| BBUC exchangeable shares | 9 | (7 | ) | 36 | 9 | ||||||||
| Preferred securities | 13 | 13 | 26 | 26 | |||||||||
| Interest of others in operating subsidiaries | 96 | 72 | 259 | 214 | |||||||||
| Reconciliation of Non-IFRS Measure | ||||||||||||||||||||
| US$ millions, unaudited | Three Months Ended | |||||||||||||||||||
| Business Services | Infrastructure Services | Industrials | Corporate and Other | Total | ||||||||||||||||
| Net income (loss) | $ | 253 | $ | (173 | ) | $ | 95 | $ | (40 | ) | $ | 135 | ||||||||
| Add or subtract the following: | ||||||||||||||||||||
| Depreciation and amortization expense | 208 | 175 | 384 | — | 767 | |||||||||||||||
| Impairment reversal (expense), net | — | — | 14 | — | 14 | |||||||||||||||
| Gain (loss) on dispositions, net | (6 | ) | — | — | — | (6 | ) | |||||||||||||
| Other income (expense), net1 | (200 | ) | 76 | 229 | (2 | ) | 103 | |||||||||||||
| Income tax (expense) recovery | 9 | 10 | (76 | ) | (8 | ) | (65 | ) | ||||||||||||
| Equity accounted income (loss) | (5 | ) | (4 | ) | (14 | ) | — | (23 | ) | |||||||||||
| Interest income (expense), net | 238 | 142 | 401 | 20 | 801 | |||||||||||||||
| Equity accounted Adjusted EBITDA2 | 28 | 40 | 20 | — | 88 | |||||||||||||||
| Amounts attributable to non-controlling interests3 | (320 | ) | (157 | ) | (746 | ) | — | (1,223 | ) | |||||||||||
| Adjusted EBITDA | $ | 205 | $ | 109 | $ | 307 | $ | (30 | ) | $ | 591 | |||||||||
Notes:
1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $236 million of net gain recognized upon the deconsolidation of our healthcare services operation, $183 million of expenses related to employee incentive payments linked to the realization of value at our advanced energy storage operation, $59 million of net revaluation losses, $57 million of business separation expenses, stand-up costs and restructuring charges, $19 million of net loss on debt modification and extinguishment, $3 million of transaction costs and $18 million of other expenses.
2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by its investments in associates and joint ventures accounted for using the equity method.
3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.
| Reconciliation of Non-IFRS Measure | ||||||||||||||||||||
| US$ millions, unaudited | Six Months Ended | |||||||||||||||||||
| Business Services | Infrastructure Services | Industrials | Corporate and Other | Total | ||||||||||||||||
| Net income (loss) | $ | 253 | $ | (17 | ) | $ | 240 | $ | (85 | ) | $ | 391 | ||||||||
| Add or subtract the following: | ||||||||||||||||||||
| Depreciation and amortization expense | 430 | 340 | 727 | — | 1,497 | |||||||||||||||
| Impairment reversal (expense), net | — | — | 14 | — | 14 | |||||||||||||||
| Gain (loss) on dispositions, net | (6 | ) | (214 | ) | — | — | (220 | ) | ||||||||||||
| Other income (expense), net1 | (132 | ) | (3 | ) | 322 | (1 | ) | 186 | ||||||||||||
| Income tax (expense) recovery | 27 | 35 | 25 | (19 | ) | 68 | ||||||||||||||
| Equity accounted income (loss) | (8 | ) | 22 | (29 | ) | — | (15 | ) | ||||||||||||
| Interest income (expense), net | 468 | 291 | 767 | 45 | 1,571 | |||||||||||||||
| Equity accounted Adjusted EBITDA2 | 52 | 73 | 35 | — | 160 | |||||||||||||||
| Amounts attributable to non-controlling interests3 | (666 | ) | (314 | ) | (1,490 | ) | — | (2,470 | ) | |||||||||||
| Adjusted EBITDA | $ | 418 | $ | 213 | $ | 611 | $ | (60 | ) | $ | 1,182 | |||||||||
Notes:
1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $236 million of net gain recognized upon the deconsolidation of our healthcare services operation, $183 million of expenses related to employee incentive payments linked to the realization of value at our advanced energy storage operation, $135 million of business separation expenses, stand-up costs and restructuring charges, $125 million of unrealized gains recorded on reclassification of property, plant and equipment to finance leases at our offshore oil services operation, $110 million of net revaluation losses, $38 million of transaction costs, $22 million of net loss on debt modification and extinguishment and $59 million of other expenses.
2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by our investments in associates and joint ventures accounted for using the equity method.
3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.
| Reconciliation of Non-IFRS Measure | ||||||||||||||||||||
| US$ millions, unaudited | Three Months Ended | |||||||||||||||||||
| Business Services | Infrastructure Services | Industrials | Corporate and Other | Total | ||||||||||||||||
| Net income (loss) | $ | (5 | ) | $ | (92 | ) | $ | 216 | $ | (54 | ) | $ | 65 | |||||||
| Add back or deduct the following: | ||||||||||||||||||||
| Depreciation and amortization expense | 248 | 222 | 339 | — | 809 | |||||||||||||||
| Gain (loss) on dispositions, net | — | — | (84 | ) | — | (84 | ) | |||||||||||||
| Other income (expense), net1 | 51 | 22 | 26 | 1 | 100 | |||||||||||||||
| Income tax expense (recovery) | (17 | ) | 4 | (91 | ) | (13 | ) | (117 | ) | |||||||||||
| Equity accounted income (loss) | (5 | ) | (11 | ) | (15 | ) | — | (31 | ) | |||||||||||
| Interest income (expense), net | 253 | 178 | 309 | 38 | 778 | |||||||||||||||
| Equity accounted Adjusted EBITDA2 | 18 | 44 | 15 | — | 77 | |||||||||||||||
| Amounts attributable to non-controlling interests3 | (361 | ) | (210 | ) | (502 | ) | — | (1,073 | ) | |||||||||||
| Adjusted EBITDA | $ | 182 | $ | 157 | $ | 213 | $ | (28 | ) | $ | 524 | |||||||||
Notes:
1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $82 millionrelated to provisions recorded at our construction operation,$49 million of net gains on debt modification and extinguishment, $41 millionof business separation expenses, stand-up costs, and restructuring charges, $21 million of net revaluation gains, $8 million of transaction costs and $39 million of other expenses.
2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by our investments in associates and joint ventures accounted for using the equity method.
3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.
| Reconciliation of Non-IFRS Measure | ||||||||||||||||||||
| US$ millions, unaudited | Six Months Ended | |||||||||||||||||||
| Business Services | Infrastructure Services | Industrials | Corporate and Other | Total | ||||||||||||||||
| Net income (loss) | $ | 235 | $ | (157 | ) | $ | 314 | $ | (124 | ) | $ | 268 | ||||||||
| Add back or deduct the following: | ||||||||||||||||||||
| Depreciation and amortization expense | 502 | 434 | 681 | — | 1,617 | |||||||||||||||
| Impairment reversal (expense), net | (4 | ) | (12 | ) | 6 | — | (10 | ) | ||||||||||||
| Gain (loss) on dispositions, net | (15 | ) | — | (84 | ) | — | (99 | ) | ||||||||||||
| Other income (expense), net1 | (89 | ) | 4 | 58 | 11 | (16 | ) | |||||||||||||
| Income tax expense (recovery) | 7 | 1 | (118 | ) | (22 | ) | (132 | ) | ||||||||||||
| Equity accounted income (loss), net | (6 | ) | (15 | ) | (33 | ) | — | (54 | ) | |||||||||||
| Interest income (expense), net | 505 | 358 | 636 | 75 | 1,574 | |||||||||||||||
| Equity accounted Adjusted EBITDA2 | 35 | 83 | 31 | — | 149 | |||||||||||||||
| Amounts attributable to non-controlling interests3 | (783 | ) | (396 | ) | (1,050 | ) | — | (2,229 | ) | |||||||||||
| Adjusted EBITDA | $ | 387 | $ | 300 | $ | 441 | $ | (60 | ) | $ | 1,068 | |||||||||
Notes:
1 Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $179 million of net revaluation gains, $82 million related to provisions recorded at our construction operation, $61 million of business separation expenses, stand-up costs and restructuring charges, $50 millionof other income related to a distribution at our entertainment operation, $38 million of net gains on debt modification and extinguishment,$29 million of transaction costs and $79 million of other expenses.
2 Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the partnership that is generated by our investments in associates and joint ventures accounted for using the equity method.
3 Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.
| Brookfield Business Corporation Reports Second Quarter 2025 Results |
Brookfield, News,
| Three Months Ended | Six Months Ended | |||||||||||
| US$ millions, unaudited | 2025 | 2024 | 2025 | 2024 | ||||||||
| Net income (loss) attributable to | $ | (120 | ) | $ | 124 | $ | (178 | ) | $ | (26 | ) | |
Net loss attributable to
Dividend
The Board of Directors has declared a quarterly dividend in the amount of
Additional Information
Each exchangeable share of
In addition to carefully considering the disclosures made in this news release in its entirety, shareholders are strongly encouraged to carefully review the Letter to Unitholders, Supplemental Information and other continuous disclosure filings which are available at https://bbu.brookfield.com.
Please note that Brookfield Business Corporation’s previous audited annual and unaudited quarterly reports have been filed on SEDAR+ and EDGAR and are available at https://bbu.brookfield.com/bbuc under Reports & Filings. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.
| Consolidated Statements of Financial Position | |||||||||||
| As at | |||||||||||
| US$ millions, unaudited | |||||||||||
| Assets | |||||||||||
| Cash and cash equivalents | $ | 613 | $ | 1,008 | |||||||
| Financial assets | 290 | 353 | |||||||||
| Accounts and other receivable, net | 3,234 | 3,229 | |||||||||
| Inventory, net | 26 | 52 | |||||||||
| Other assets | 517 | 627 | |||||||||
| Property, plant and equipment | 181 | 2,480 | |||||||||
| Deferred income tax assets | 236 | 197 | |||||||||
| Intangible assets | 5,980 | 5,966 | |||||||||
| Equity accounted investments | 187 | 198 | |||||||||
| 5,018 | 4,988 | ||||||||||
| Total Assets | $ | 16,282 | $ | 19,098 | |||||||
| Liabilities and Equity | |||||||||||
| Liabilities | |||||||||||
| Accounts payable and other | $ | 2,981 | $ | 5,276 | |||||||
| Non-recourse borrowings in subsidiaries of the company | 7,940 | 8,490 | |||||||||
| Exchangeable and class B shares | 1,815 | 1,709 | |||||||||
| Deferred income tax liabilities | 967 | 988 | |||||||||
| Equity | |||||||||||
| $ | (159 | ) | $ | (59 | ) | ||||||
| Non-controlling interests | 2,738 | 2,694 | |||||||||
| 2,579 | 2,635 | ||||||||||
| Total Liabilities and Equity | $ | 16,282 | $ | 19,098 | |||||||
| Consolidated Statements of Operating Results | |||||||||||||
| US$ millions, unaudited | Three Months Ended | Six Months Ended | |||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Revenues | $ | 1,860 | $ | 1,929 | $ | 3,826 | $ | 3,794 | |||||
| Direct operating costs | (1,695 | ) | (1,860 | ) | (3,484 | ) | (3,512 | ) | |||||
| General and administrative expenses | (69 | ) | (77 | ) | (144 | ) | (141 | ) | |||||
| Interest income (expense), net | (212 | ) | (203 | ) | (431 | ) | (413 | ) | |||||
| Equity accounted income (loss) | 2 | 2 | 5 | 3 | |||||||||
| Impairment reversal (expense), net | — | — | — | (2 | ) | ||||||||
| Remeasurement of exchangeable and class B shares | (176 | ) | 237 | (183 | ) | 126 | |||||||
| Other income (expense), net | 236 | (59 | ) | 202 | (70 | ) | |||||||
| Income (loss) before income tax | (54 | ) | (31 | ) | (209 | ) | (215 | ) | |||||
| Income tax (expense) recovery | |||||||||||||
| Current | 14 | 16 | (9 | ) | (28 | ) | |||||||
| Deferred | 17 | 55 | 60 | 109 | |||||||||
| Net income (loss) | $ | (23 | ) | $ | 40 | $ | (158 | ) | $ | (134 | ) | ||
| Attributable to: | |||||||||||||
| (120 | ) | 124 | (178 | ) | (26 | ) | |||||||
| Non-controlling interests | $ | 97 | $ | (84 | ) | $ | 20 | $ | (108 | ) | |||
Cautionary Statement Regarding Forward-looking Statements and Information
Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian and
Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, investors and other readers should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of
Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to, the following: the cyclical nature of our operating businesses and general economic conditions and risks relating to the economy, including unfavorable changes in interest rates, foreign exchange rates, inflation, commodity prices and volatility in the financial markets; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; business competition, including competition for acquisition opportunities; strategic actions including our ability to complete dispositions and achieve the anticipated benefits therefrom; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; changes to
Statements relating to “reserves” are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described herein can be profitably produced in the future. We qualify any and all of our forward-looking statements by these cautionary factors.
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.
Cautionary Statement Regarding the Use of a Non-IFRS Measure
This news release contains references to a Non-IFRS measure. Adjusted EBITDA is not a generally accepted accounting measure under IFRS and therefore may differ from definitions used by other entities. We believe this is a useful supplemental measure that may assist investors in assessing the financial performance of
References to
| Title | Document |
|---|---|
English |