Group 1 - Danone's consolidated financial statements for the fiscal year ended December 31, 2024, are now publicly available on its website [1] - The company generated €27.4 billion in sales in 2024, indicating its strong market presence [2] - Danone operates in three key categories: Essential Dairy & Plant-Based products, Waters, and Specialized Nutrition, focusing on health and sustainability [2] Group 2 - Danone aims to achieve B Corp certification globally by 2025, reflecting its commitment to social and environmental impact [2] - The company employs over 90,000 people and sells products in more than 120 markets worldwide [2] - Danone's portfolio includes well-known international brands such as Actimel, Activia, and evian, as well as strong local brands [2]

Core Points - Brookfield Corporation has announced a fixed dividend rate of 5.185% for its Cumulative Class A Preference Shares, Series 38, for the five-year period from April 1, 2025, to March 31, 2030, translating to $0.3240625 per share per quarter [1][2] - Holders of Series 38 Shares can convert their shares into Series 39 Shares on a one-for-one basis until March 17, 2025, with the Series 39 Shares offering a floating dividend rate based on the yield of three-month Government of Canada treasury bills [3][4] - If the number of Series 38 Shares outstanding falls below 1,000,000 after March 31, 2025, all remaining Series 38 Shares will automatically convert into Series 39 Shares [5] - The Toronto Stock Exchange has conditionally approved the listing of Series 39 Shares, pending Brookfield meeting all listing requirements [6] Company Overview - Brookfield Corporation is a leading global investment firm focused on long-term wealth creation for institutions and individuals, with core businesses in Alternative Asset Management, Wealth Solutions, and Operating Businesses in sectors such as renewable power and real estate [7][8] - The company has a history of delivering over 15% annualized returns to shareholders for more than 30 years, supported by its investment and operational expertise [8]

Core Insights - Bill Ackman, a prominent portfolio manager, is focusing on several key investments through his hedge fund, Pershing Square Capital, which has a portfolio valued at $14.8 billion concentrated in a few companies [2] Group 1: Uber Technologies - Ackman has invested significantly in Uber, acquiring 30.3 million shares worth approximately $2.3 billion, representing 15.6% of Pershing Square's portfolio [3][6] - The bullish outlook on Uber is driven by its network effect, being the largest ride-sharing network outside of China, and its successful expansion into delivery services like Uber Eats [4] - Management projects 30% to 40% annual EBITDA growth and over 90% average annual free cash flow growth over the next three years, with free cash flow having grown 122% last year [6] Group 2: Alphabet Inc. - Ackman has a substantial position in Alphabet, valued at about $2 billion, which has seen a stock price increase of 40% and an additional 48% since early 2023 [7][11] - The investment thesis is supported by the potential of AI to enhance search products and ad effectiveness, with Google Cloud benefiting significantly from AI spending [9][10] - Alphabet shares are trading for less than 20 times forward earnings, indicating strong value despite the stock price increase [11] Group 3: Brookfield Corp. - Ackman has built a significant position in Brookfield Corp., with 34.9 million shares valued at just over $2 billion [12] - The company has undergone strategic restructuring to unlock shareholder value and is generating substantial earnings growth and free cash flow [13][14] - Management projects a climb in intrinsic value from $84 per share to $176 by 2029, with distributable earnings growing 30% year over year [15][16]

Core Viewpoint - Brookfield Corporation has announced a public offering of $500 million in senior notes due 2055, with an interest rate of 5.813% per annum [1][2]. Group 1: Offering Details - The notes will be issued by Brookfield Finance Inc., a wholly owned subsidiary of Brookfield, and will be fully guaranteed by Brookfield [2]. - The net proceeds from the sale will be utilized for general corporate purposes [2]. - The offering is expected to close on March 3, 2025, pending customary closing conditions [2]. Group 2: Regulatory Information - The notes are being offered under Brookfield's existing base shelf prospectus filed in the U.S. and Canada [3]. - In the U.S., the offering is made pursuant to an effective registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission [3]. Group 3: Company Overview - Brookfield Corporation is a leading global investment firm focused on building long-term wealth through three core businesses: Alternative Asset Management, Wealth Solutions, and Operating Businesses in renewable power, infrastructure, business and industrial services, and real estate [5]. - The company has a track record of delivering over 15% annualized returns to shareholders for more than 30 years, supported by extensive operational experience and a conservatively managed balance sheet [6].

Core Insights - The company reported strong FY 2024 results, achieving a like-for-like sales growth of +4.3% despite a reported sales decrease of -0.9% due to scope and forex impacts [2][8][24] - The recurring operating margin improved to 13.0%, up +39 basis points from the previous year, driven by operational improvements and reinvestments [2][16][21] - Net income attributable to the Group increased significantly by +129.4% to €2,021 million, with reported EPS rising by +130.2% to €3.13 [2][19][21] Financial Performance - FY 2024 sales were €27,376 million, down from €27,619 million in FY 2023, with a like-for-like growth of +4.3% driven by a +3.0% increase in volume/mix and +1.3% in price [2][8][55] - Recurring operating income rose to €3,558 million, reflecting a +2.2% increase from €3,481 million in FY 2023 [2][19] - Free cash flow reached a record level of €3,003 million, up +14.0% from €2,633 million in the previous year [2][22] Segment Performance - North America saw a like-for-like sales growth of +7.7%, driven by strong performance in High Protein, Coffee Creations, and Waters [10] - Sales in China, North Asia & Oceania increased by +6.8% on a like-for-like basis, with strong volume/mix growth of +9.8% [11] - Latin America reported a +4.7% increase in like-for-like sales, with notable growth in Specialized Nutrition and Waters [12] Strategic Focus - The company emphasized a renewed focus on health-driven products and science-based innovation to capture long-term market opportunities [5][6] - A commitment to value creation and disciplined capital allocation has led to a significant improvement in return on invested capital (ROIC), now back in double-digit territory [4][5] - The company plans to buy back 2.7 million shares in 2025 to offset dilution from employee capital increases and long-term incentive plans [25] Future Guidance - For 2025, the company expects like-for-like sales growth between +3% and +5%, with recurring operating income anticipated to grow faster than sales [24]

Core Points - Danone has reached an agreement with NGOs ClientEarth, Surfrider Foundation Europe, and Zero Waste France to end legal proceedings regarding its vigilance plan on plastic [1][2] - The agreement includes a reinforced vigilance plan that details the consequences of plastic packaging use and outlines Danone's actions to reduce, reuse, recycle, and recover plastic [2] - Danone emphasizes the importance of open dialogue with NGOs to address complex challenges and encourages collective mobilization among all stakeholders to overcome systemic obstacles to a circular economy [3][4] Company Overview - Danone is a leading global food and beverage company focused on health-oriented categories, generating €27.6 billion in sales in 2023 and employing nearly 90,000 people [5] - The company operates in over 120 markets and has a diverse portfolio of international and regional brands, including Actimel, Activia, and evian [5] - Danone aims to achieve B CorpTM certification globally by 2025 and is included in various sustainability indexes [5]

Ever since Trump won the 2024 US election the stock price of Brookfield Renewable Partners (NYSE: BEP ) has been in decline. It's trading in the lower range of the past 52 weeks. Albeit the nextMy name is Maxime and I like to write about finances and share my views on various companies and their potential as an investment opportunity. My preferred sector is industrial. I live and work in Europe and we have a very long and proud history of being an industrial superpower so I guess it comes naturally. I have ...

Brookfield Infrastructure (NYSE: BIP ) (NYSE: BIPC ) stands to benefit from the coming growth of the data and digital infrastructure required across the world. The diversified partnership has significant investments across the transportation, midstream, utility, and data sectors rangingMountain Valley Value Investments specializes in identifying undervalued companies with strong growth potential across various sectors. Focused on long-term value and buying at the right price, we leverage deep industry insig ...

Brookfield Corporation (BN 0.64%) has been an epic wealth-compounding machine over the decades. The global investment firm has delivered a 19% compound annual return during the past 30 years. At that rate, it would have grown a $10,000 investment into over $1.8 million.The company is in an excellent position to continue enriching its shareholders in the coming years. One factor driving that promise is the carried interest hidden within its asset management business. CEO Bruce Flatt wrote about this "hidden ...

Core Viewpoint - Brookfield Corporation has consistently outperformed the market, achieving an 18% annualized return over the last 30 years, surpassing both Berkshire Hathaway and the S&P 500 [1] Group 1: Investment Strategy - Brookfield Corporation has adopted a strategy similar to that of Berkshire Hathaway, positioning itself to deliver strong returns for investors [2] - The company began as an owner/operator of real assets and has expanded into managing capital for outside investors, leading to the establishment of Brookfield Asset Management [4] - Brookfield has entered the insurance industry, increasing its insurance assets from $2 billion to over $120 billion in four years, providing a growing capital float for investments [5] Group 2: Growth Projections - Brookfield aims to grow its insurance assets to around $300 billion in five years, which is expected to triple its annual earnings capacity [7] - The company anticipates generating $47 billion in cumulative free cash flow over the next five years, which will be allocated to reinvestment, share repurchases, and dividends [8] - Brookfield projects more than 20% annual earnings-per-share growth over the next five years, with an intrinsic value target of over $175 per share by the end of the decade [9] Group 3: Market Position - Brookfield Corporation's investment approach focuses on acquiring high-quality businesses at value prices and maximizing their earnings through hands-on management [6] - The company’s wealth solutions business and effective capital allocation are expected to drive continued market-crushing returns [10][11]