Brookfield Infrastructure Partners reported Funds from Operations (FFO) of $2.5 billion for the year ended December 31, 2024, representing an 8% increase compared to 2023. Organic growth for the year was 7%, driven by elevated inflation, stronger volumes across infrastructure networks, and the commissioning of over $1 billion in new capital projects.
The Utilities segment generated FFO of $760 million, up 7% on a comparable basis, while the Transport segment's FFO increased nearly 40% to $1,224 million, primarily due to the global intermodal logistics acquisition. The Midstream segment saw 11% comparable growth to $625 million, and the Data segment's FFO rose 21% to $333 million.
Brookfield Infrastructure achieved its targeted $2 billion in capital recycling proceeds for 2024. This included closing the sale of its French telecom infrastructure fiber platform for approximately $100 million in proceeds and an IRR of 17%. The company also closed the sale of one Mexican regulated natural gas transmission pipeline, with another on track to close in Q1 2025, for total net proceeds of approximately $500 million.
The Board of Directors declared a quarterly distribution of $0.43 per unit, payable on March 31, 2025, marking a 6% increase compared to the prior year. This represents the 16th consecutive distribution increase, underscoring the company's commitment to returning value to unitholders.
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