Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 132

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 132
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 year ended December 31, 2023 compared to $89 million for the year ended December 31, 2022. The increase was primarily due to the impact of a full period of contribution in 2023 and improved business performance driven by cost optimization initiatives and growth of core subscription revenue. Results also reflected the impact of our increased ownership compared to the prior period.

Our fleet management and car rental services contributed $142 million to Adjusted EBITDA for the year ended December 31, 2023 compared to $59 million for the year ended December 31, 2022. The increase was primarily due to a full period of contribution from the add-on acquisition of car rental services completed in October 2022. Increased contribution was supported by higher rental revenue, partially offset by reduced contribution from asset sales.

Our healthcare services contributed $54 million to Adjusted EBITDA for the year ended December 31, 2023 compared to $64 million for the year ended December 31, 2022. Performance was challenged as a result of capped billing rates and higher labor and consumable costs.

Infrastructure services

The following table presents Adjusted EFO and Adjusted EBITDA for our infrastructure services segment for the years endedDecember 31, 2024, 2023 and 2022:

                       Year ended December 31,                                                   
  (US$ MILLIONS)       2024                                  2023                 2022           
 ─────────────────────────────────────────────────────────────────────────────────────────────────
  Adjusted EFO         $                            287      $         2,070      $         513  
  Adjusted EBITDA      $                            606      $           853      $         872  

The following table presents equity attributable to Unitholders for our infrastructure services segment as at December 31, 2024, 2023 and 2022:

  (US$ MILLIONS)                                     2024                  2023                  2022              
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total assets                                       $         17,489      $         17,180      $         22,606  
  Total liabilities                                            11,729                10,874                18,436  
  Interests of others in operating subsidiaries                 2,465                 2,772                 2,582  
  Equity attributable to Unitholders                            3,295                 3,534