Brookfield Business Corporation

What they do

Brookfield Business Partners L.P. is a Bermuda-based limited partnership whose units trade on the New York Stock Exchange. The company holds controlling and non-controlling interests in a portfolio of businesses across three reported segments: Business Services, Infrastructure Services and Industrials. Its operating subsidiaries include companies such as Multiplex Global Limited, Healthscope Pty Ltd, Clarios Global LP, DexKo Global Inc. and CDK Global II LLC.

Revenue drivers

• Business Services segment — Includes construction services (Multiplex Global Limited), healthcare operations (Healthscope Pty Ltd), vehicle rental (Unidas Locadora S.A.), mortgage finance (Sagen MI Canada Inc.), lending (IndoStar Capital Finance Ltd, La Trobe Financial Services Pty Limited) and dealership software (CDK Global II LLC). These businesses generate revenue from construction contracts, patient services, rental fees, insurance premiums, loan interest and software subscriptions.
• Infrastructure Services segment — Includes Altera Infrastructure LP, Modulaire Investments 2 S.A.R.L. and Scientific Games Holdings LP. Revenue comes from offshore production and storage services, modular building leasing and lottery and gaming services.
• Industrials segment — Includes BRK Ambiental Participações S.A., Schoeller Allibert Group B.V., Ember Resources Inc., Clarios Global LP, Descarbonize Soluções S.A., DexKo Global Inc. and BCP VI Summit Holdings LP. These businesses generate revenue from water and sewage concessions, returnable plastic packaging, oil and gas production, advanced battery manufacturing, carbon credit generation and trailer and component manufacturing.

Recent performance

The filing excerpts provided contain no revenue, earnings or cash flow figures for the 2025 fiscal year or any other period. The 20-F filing is dated 2026-03-31 and includes XBRL tags indicating the existence of financial statement line items and segment data, but the actual values are not present in the source material. Similarly, no comparative financial results for 2024 or 2023 are available in the excerpts. As a result, no specific performance figures can be presented.

Strategy

The company's stated approach is to own and operate a diversified portfolio of businesses across Business Services, Infrastructure Services and Industrials. In January 2025, the Industrials segment acquired Chemelex, which added customer-related intangible assets, brand names and developed technology and software. The filing indicates ongoing investment in and management of operating subsidiaries. No further strategic priorities are described in the excerpts provided.

Risks

• Portfolio concentration — The company's results depend on a limited number of large operating subsidiaries, including Mulitplex, Healthscope, Clarios, DexKo and CDK Global, so underperformance at any one could materially affect overall results.
• Interest rate and credit risk — The portfolio includes financial services businesses such as Sagen MI Canada, IndoStar Capital Finance and La Trobe Financial, which are exposed to credit losses and interest rate movements.
• Foreign exchange and geopolitical exposure — Operations span multiple currencies (EUR, AUD, BRL, CAD, INR) and jurisdictions, exposing results to currency fluctuations and regulatory changes.
• Cyclical end markets — Several businesses, including construction, automotive battery and trailer manufacturing, and oil and gas production, are sensitive to economic cycles and commodity prices.

Outlook

The filing excerpts do not contain forward-looking statements or management guidance regarding future periods. The only recent event noted is an 8-K filing dated 2026-03-27 under 'Other events.' No specific outlook information is available in the provided source material.