Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 112

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 112
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 total assets of $75.5 billion as at December 31, 2024 and of total revenues of $40.6 billion for the year ended December 31, 2024.

                               Assets                             Revenues                        
                               As at                              For the year ended              
  (US$ MILLIONS)               December 31, 2024                  December 31, 2024               
  Business services            $                      31,583      $                       22,449  
  Infrastructure services                             17,489                               3,739  
  Industrials                                         26,097                              14,432  
  Corporate and other          305                                —                               
  Total                        $                      75,474      $                       40,620  

Outlook

We seek to increase the cash flows from our operations through acquisitions and organic growth opportunities as described below. We believe our global scale and leading operations allow us to efficiently allocate capital around the world toward those sectors and geographies where we see the greatest opportunities to realize our targeted returns. We also actively seek to monetize business interests as they mature and reinvest the proceeds into higher yielding investment strategies, further enhancing returns. Operationally, we believe performance in our operations remains resilient and global inflationary pressures are starting to ease.

Business services

In January 2025, our dealer software and technology services operation reached a settlement on a legacy pre-acquisition class action lawsuit. The impact on the business is manageable and the settlement will be funded with liquidity from its balance sheet. This enables the business now to focus on future growth and value creation priorities. We are accelerating planned modernization and technology upgrades to enhance the user experience and overall customer service levels. Costs associated with these initiatives which are reflected in near-term results will support higher growth and a stronger market leadership position over the long run. The business recently signed multi-year contract renewals with four of the largest privately held automotive groups in the U. S. as we continue to support its broader customer retention initiatives.

Our residential mortgage insurer continues to perform well. Losses on claims remain below long-term historical levels due to the overall stability of Canadian home prices, low unemployment levels and consequently low mortgage delinquency rates. While we expect losses to increase to long-term levels over time, normalizing mortgage rates and improved affordability for home buyers should support increased housing activity and moderate home price appreciation this year.

The Australian private hospital sector continues to face significant challenges which have resulted in deteriorating performance at our healthcare services operation. The business is operating with an unsustainable cost