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Brookfield Infrastructure Partners (BIP) investor relations material
Brookfield Infrastructure Partners Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong Q3 2025 results with FFO of $654 million ($0.83/unit), up 9% year-over-year, and net income of $440 million, driven by organic growth, asset sales, and new investments.
Completed six new investments totaling over $1.5 billion, including major acquisitions in New Zealand, South Korea, and a significant AI-related project in the U.S.
Generated over $3 billion in asset sale proceeds year-to-date, with an additional $3 billion targeted over the next 12–18 months.
Distributions per unit increased 6% to $0.43, with a payout ratio of 67%, within the long-term target range.
Total assets rose to $124.3 billion, reflecting acquisitions and FX benefits, partially offset by asset sales.
Financial highlights
FFO per unit grew 9% year-over-year to $0.83; AFFO reached $460 million for the quarter.
Adjusted EBITDA for Q3 2025 was $1,067 million, up from $1,005 million in Q3 2024.
Return on Invested Capital (ROIC) was 14% for Q3 2025, up from 12% a year ago.
Net debt increased to $32.1 billion, with a weighted average interest rate of 5.9%.
Revenues for Q3 2025: $5.98 billion, up from $5.27 billion in Q3 2024.
Outlook and guidance
Outlook remains favorable for the remainder of 2025 and into 2026, with new investments expected to deliver returns above the 12%–15% target range and potential upside over 20%.
Organic per unit FFO growth is targeted at 6–9%, supported by inflation indexation, volume growth, and reinvested cash flows.
Annual distribution growth is targeted at 5–9%, with a sustainable payout ratio of 60–70% of FFO.
Plans to deploy up to $500 million annually into AI-related infrastructure in coming years.
Maintenance capital expenditures for 2026 are estimated at $600–660 million across all segments.
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