Brookfield Business Partners reported its financial results for the year ended December 31, 2024, showing a net loss attributable to Unitholders of $109 million, or $0.50 per unit. This contrasts with a net income of $1,405 million in the prior year, with the current year's loss attributed to a one-time non-cash expense at its healthcare services operation and provisions at its construction operation.
Despite the net loss, the company achieved a record Adjusted EBITDA of $2,565 million for 2024, an increase from $2,491 million in 2023. This growth was driven by improved operational performance and $371 million in tax benefits at its advanced energy storage operation, Clarios. The Industrials segment's Adjusted EBITDA rose significantly to $1,247 million.
The Business Services segment's Adjusted EBITDA decreased to $832 million, primarily due to the impact of a cyber incident at its dealer software and technology services operation and reduced performance in healthcare and construction services. The Infrastructure Services segment also saw a decline to $606 million, largely due to the prior year's sale of its nuclear technology services operation. The company generated over $2 billion from capital recycling initiatives and ended the year with approximately $1.3 billion of corporate liquidity.
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