Brookfield Asset Management posts Q1 FFO of USD 674m

Solar park in India built by SunEdison. Author: American Center Mumbai. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

Canada’s Brookfield Asset Management Inc (TSE:BAM.A) last week reported funds from operations (FFO) of USD 674 million (EUR 617m) for the first quarter of 2017.

The company has roughly USD 250 billion in assets under management, including in real estate, renewable power, infrastructure and private equity. In March it agreed to increase its stake in SunEdison’s TerraForm Power Inc (NASDAQ:TERP) to 51%, and acquire in full TerraForm Global Inc (NASDAQ:GLBL). The two businesses own and operate 3.6 GW of global wind and solar.

The table presents Brookfield’s results for the quarter.

All in USD million, unless specified	Q1 2017	Q1 2016
Net income	518	636
Net income (loss) to Brookfield shareholders	(37)	257
Net income to non-controlling interests	555	379
Net income per share (in USD)	(0.08)	0.23
Funds from operations (FFO)	674	703
FFO per share (in USD)	0.65	0.69
Revenues	6,001	5,218

Reuters reported last week that Brookfield has also reached an agreement that allows it to take control of Brazilian company Renova Energia SA (BVMF:RNEW11), which will further expand its renewable energy business. The company is the parent of Brookfield Renewable Partners (NYSE:BEP).

(USD 1 = EUR 0.92)

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