Brookfield Infrastructure Corporation

Latest Results (03.04.2026):

Brookfield Infrastructure Corporation (BIPC) — fourth quarter and year ended December 31, 2025 — reported full-year 2025 results showing net income of $700 million (vs. $72 million in 2024) on essentially flat revenues of $3.668 billion. The year included sizable non‑cash/remeasurement movements and a declared increase to the quarterly dividend (amount not specified in the provided extract).

Net income and attribution

BIPC reported net income of $700 million for the year ended December 31, 2025 (up from $72 million in 2024). However, results attributable to the Partnership were a loss of $241 million while non‑controlling interests accounted for $941 million of the year’s earnings, indicating the bulk of reported net income was allocated to non‑controlling interests.

Revenue and operating results

Revenues were essentially unchanged at $3.668 billion (2024: $3.666 billion). Operating income/earnings before finance and tax rose modestly (operating income reported as $2,254 million vs $2,213 million), helped by lower direct operating costs and a positive mark‑to‑market/other swing (a $402 million gain in 2025 vs a $234 million loss in 2024).

Balance sheet and key balances

Total assets increased to $24.0 billion (2024: $23.6 billion). Property, plant and equipment rose to $14.2 billion. Cash and cash equivalents fell to $431 million (from $674 million), and total equity declined to $2.005 billion (from $2.222 billion). Non‑recourse borrowings increased to $13.169 billion.

Cash flow, investing and financing

Cash from operating activities was $1,608 million (2024: $1,743 million). Investing activities used $612 million (improved versus $1,110 million in 2024) reflecting disposals and capital spending; financing activities used $1,291 million, and the overall cash balance declined by $295 million during 2025.

Dividend and corporate actions

The Board declared a quarterly dividend and announced a dividend increase (the specific amount is not included in the provided extract). The company also disclosed disposals of subsidiaries/associates and acquisitions during 2025 that influenced investing and other line items.

One‑time and non‑cash items

Results were materially affected by non‑cash items: a remeasurement charge on the financial liability for exchangeable shares (~$441 million) and large mark‑to‑market/other swings (a $402 million positive in 2025). These items help explain the difference between reported net income and the Partnership‑attributable result.