Partners Value Investments L.P. Reveals Q2 2024 Financials
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Partners Value Investments L.P. Announces Q2 2024 Interim Results
Partners Value Investments L.P. (the “Partnership”, TSX: PVF.UN, TSX: PVF.PR.U) has announced its financial results for the six months ended June 30, 2024. All figures are presented in U.S. dollars.
Financial Performance Overview
The Partnership generated a net income of $21.6 million for the quarter ended June 30, 2024, compared to a net loss of $8.1 million from the same quarter in the previous year. The notable increase in income was attributed to higher dividend revenues as well as gains related to foreign currency, taxes, and investment valuations. Income distribution included $19.2 million allocated to the Equity Limited Partners and $2.4 million allocated to Preferred Limited Partners.
Market Updates and Share Prices
As of June 30, 2024, the market prices were reported for Brookfield Corporation (the “Corporation”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (the “Manager”, NYSE/TSX: BAM) as $41.54 and $38.05, respectively. Following this, on August 16, 2024, these prices saw an increase, with shares valued at $46.57 for BN and $40.90 for BAM.
Financial Profile
The Partnership’s primary investments include approximately 121 million Class A Limited Voting Shares of the Corporation and around 31 million Class A Limited Voting Shares of the Manager. This represents approximately an 8% interest in the Corporation and a 7% interest in the Manager, as of June 30, 2024. Furthermore, the Partnership maintains a diversified investment portfolio, comprising both marketable securities and interests in private funds.
Statements of Financial Position
The following highlights have been drawn from the Partnership’s Consolidated Statements of Financial Position:
- Cash and Cash Equivalents: $112,227
- Accounts Receivable and Other Assets: $32,518
- Deferred Tax Asset: $1,185
- Investment Values:
- Brookfield Corporation Investment: $5,025,128
- Brookfield Asset Management Investment: $1,172,250
The total assets amount to $7,017,765. A detailed view into liabilities showcases accounts payable and other liabilities at $22,906 and corporate borrowings at $218,798.
Net Book Value Changes
For the period ending June 30, the net book value fluctuated as follows:
- Beginning Net Book Value: $6,088,647
- Net Income: $19,205
- Ending Net Book Value: $5,904,130
This data indicates the Partnership's effort in managing its assets and liabilities effectively in the current financial landscape.
Contact Information
For further information, investors may reach out to Investor Relations at ir@pvii.ca.
Frequently Asked Questions
1. What is the main financial result presented in this interim report?
The Partnership reported a net income of $21.6 million for Q2 2024, marking a significant improvement from a net loss of $8.1 million in the same quarter the previous year.
2. How are the Partnership's investments structured?
The Partnership holds approximately 121 million Class A Limited Voting Shares of Brookfield Corporation and 31 million Class A Limited Voting Shares of Brookfield Asset Management Ltd., representing significant interests in both entities.
3. What were the market prices of Brookfield Corporation shares?
During the report period, the share prices were $41.54 per share and increased to $46.57 by August 16, 2024.
4. How does the Partnership maintain its asset values?
The Partnership utilizes a diversified investment portfolio, including marketable securities and private fund interests, to maintain and potentially increase its asset values.
5. Where can investors find more information about the Partnership?
Investors can contact the Partnership's Investor Relations team via email at ir@pvii.ca for more information and direct inquiries.
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