Partners Value Investments Reveals 2024 Financial Outcomes
Partners Value Investments Inc. Reports Financial Results
Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V) has unveiled its financial performance for the year ended December 31, 2024. The Company faced a net loss of $3.8 billion for the year, a significant increase compared to a loss of $333 million in the previous year. This shift in financial performance is largely attributable to remeasurement losses arising from the retractable shares and warrant liabilities, though it was partially mitigated by increased investment income and favorable foreign currency gains.
Financial Highlights
The retractable common shares, classified as liabilities due to their cash retraction feature, significantly impacted the financials. The Company reported adjusted earnings of $122 million for 2024, up from $27 million in the previous year, thanks to greater investment income and valuation gains. This is an encouraging sign, indicating improved operational efficiency despite the overall net loss.
Market Developments
As of December 31, 2024, shares of the Brookfield Corporation (NYSE/TSX: BN) were valued at $57.45, while shares of Brookfield Asset Management Ltd. (NYSE/TSX: BAM) were priced at $54.19. Both companies are key components in the Company's strategy, influencing its performance and outlook significantly. By March 28, 2025, BN shares dipped to $51.85 and BAM shares to $48.50, reflecting market volatility.
Investment Portfolio Overview
At the end of 2024, the Company's principal investments comprised approximately 121 million Class A Limited Voting Shares of the Brookfield Corporation and about 31 million Class A Limited Voting Shares of Brookfield Asset Management Ltd. This constitutes roughly an 8% interest in Brookfield Corporation and a 7% interest in Brookfield Asset Management. Additionally, the Company holds a diversified investment portfolio of various marketable securities and private fund interests.
Consolidated Financial Position
As summarized in the following table, the Company’s assets and liabilities illustrate a complex financial landscape:
Assets Breakdown
Assets include cash and equivalents totaling $156,952 and accounts receivable of $69,776. The Company has also invested heavily in Brookfield Corporation with a recorded value of $6,949,656 and Brookfield Asset Management valued at $1,669,488.
Liabilities Overview
Liabilities comprise significant corporate borrowings amounting to $208,168 and preferred shares valued at $703,044, reflecting the Company's financing strategies in the current climate. The retractable common shares of $7,312,467 represent a notable aspect of its liabilities.
Future Outlook
Despite the significant losses reported, the Company remains optimistic about its future. The ability to generate adjustable earnings signifies resilience. Additionally, the valuation of investments continues to provide a solid foundation for potential growth, making it an interesting prospect for investors.
Frequently Asked Questions
What were the key financial results for 2024?
The Company reported a net loss of $3.8 billion, but adjusted earnings rose to $122 million, showcasing improved operational performance.
What investments does Partners Value Investments hold?
The Company holds significant shares in Brookfield Corporation and Brookfield Asset Management, representing 8% and 7% of each entity, respectively.
How has the stock market impacted the Company?
Fluctuations in share prices of Brookfield Corporation and Brookfield Asset Management have influenced the Company’s overall financial health and valuation.
What are the liabilities reported by the Company?
Key liabilities include corporate borrowings of $208,168 and retractable common shares totaling $7,312,467.
What does the future hold for Partners Value Investments?
While the reported losses are substantial, the Company has shown potential for recovery through its investments and adjusted earnings improvements.
For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.
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