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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

May 15 (Renewables Now) - 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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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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