Brookfield Business Partners L.P.(BBU) - 2020 Q1 - Earnings Call Presentation

Financial Performance (Q1 2020) - Company EBITDA increased by $28 million, from $266 million in Q1 2019 to $294 million in Q1 2020, driven by Industrials and Infrastructure Services segments[17] - Company FFO decreased by $11 million, from $205 million in Q1 2019 to $194 million in Q1 2020, due to higher interest and tax expenses[18] - Net loss attributable to unitholders was $126 million, compared to net income of $62 million in the prior period, impacted by impairment expenses and unrealized losses[18] - Revenues increased by $945 million, from $9,201 million to $10,146 million, primarily due to acquisitions[31] - Direct operating costs increased by $708 million, from $8,193 million to $8,901 million, primarily due to acquisitions[31] Balance Sheet (as of March 31, 2020) - Total assets decreased from $51,751 million to $49,419 million, primarily due to foreign exchange movements[19] - Non-recourse borrowings in subsidiaries increased, primarily related to the consolidation of Cardone[19] - Corporate borrowings were $283 million, with access to $1,792 million in undrawn credit facilities[19] - Equity attributable to unitholders decreased from $3,792 million to $3,061 million[17] Acquisitions and Dispositions (Q1 2020) - Acquired BrandSafway in Infrastructure Services for an invested capital of $445 million, representing a 17% economic interest[25] - Monetized Nova Cold in Business Services for proceeds of $45 million, resulting in a gain of $42 million[25]