Brookfield Infrastructure Partners Lp Limited Partnership · NYSE:BIP
Brookfield Infrastructure Partners Lp Limited Partnership — Brookfield Infrastructure Partners — IPO Roadshow (July 2019)
15 slides from Brookfield Infrastructure Partners Lp Limited Partnership's IPO roadshow presentation, Jul 11, 2019
Slide 1: Important Notice
Important Notice DISCLAIMER This presentation has been prepared for informational purposes only from information supplied by Brookfield Infrastructure Partners L.P. (“BIP”, “Brookfield Infrastructure”, the “Partnership”, “we” or “our”) and from third-party sources indicated herein. Such third-party
Slide 2: Important Notice (cont'd)
Important Notice (cont’d) IMPORTANT NOTE REGARDING NON-IFRS FINANCIAL MEASURES To measure performance we focus on net income as well as funds from operations (“FFO”), FFO per unit, adjusted funds from operations (“AFFO”), adjusted EBITDA, and invested capital, which we refer to throughout this prese
Slide 3: Brookfield Infrastructure – Overview
Brookfield Infrastructure – Overview Generates a current yield of ~4.5%2 and has a strong track record of growing distributions We are one of the largest, globally diversified infrastructure owners in the world with operations in North and South America, Asia Pacific and Europe Our assets are compri
Slide 4: BIP has been a strong performer since its inception over a decade ago
BIP has been a strong performer since its inception over a decade ago Track record of creating wealth for unitholders with strong annual growth 16% FFO/UNIT GROWTH1 17% TOTAL RETURN SINCE INCEPTION2 10% DISTRIBUTION GROWTH3 Includes dividend reinvestment *BIP (NYSE) and U.S. index returns since Jan
Slide 5: Looking back on 2018, another successful year
Looking back on 2018, another successful year We executed on a number of key priorities that enhanced our overall business Generated FFO1 of $1.23 billion, or $3.11 per unit – posted a strong year of organic growth of 8%2 Marked our tenth consecutive year of distribution increases, with a 7% distrib
Slide 6: The outlook for our business is positive
The outlook for our business is positive 2019 is off to a strong start: Recorded FFO of $351 million1, or $0.881 per unit; generated organic growth of 10%2 Deployed ~$200 million1 in growth capital expenditures; total capital expected to be commissioned in next three years is ~$2.0 billion3 (expect
Slide 7: Summary of offering and use of proceeds
Summary of offering and use of proceeds Raising $750 million of equity (including private placement to Brookfield) Proceeds used primarily to fund an active and advanced pipeline of new investment opportunities1 Recent initiatives: Take-private of a premier North American rail business Significant p
Slide 8: Acquisition of a large-scale North American rail business
Acquisition of a large-scale North American rail business On July 1, 2019, Brookfield Infrastructure announced its acquisition of Genesee & Wyoming Inc. (“G&W”), a highly strategic, large-scale North American rail business for $8.4 billion BIP will invest ~$500 million (~9% stake), alongside its con
Slide 9: G&W is a compelling investment opportunity
G&W is a compelling investment opportunity Integral network Scale operations Highly resilient and diversified business Immediate opportunities for operational improvements KEY HIGHLIGHTS
Slide 10: Immediate opportunities for operational improvements
Immediate opportunities for operational improvements Key areas for value creation: Driving margin improvement Maximizing commercial opportunities Highly resilient and diversified business Lack of a material counterparty and limited commodity exposure risk Supports industrial, consumer, agricultural
Slide 11: G&W is an attractive addition to BIP's portfolio
~5% Increase 3 G&W is an attractive addition to BIP’s portfolio Significant addition to our global rail platform Expands presence across four continents First large-scale transport infrastructure business in North America Increases BIP’s exposure to North America to ~30% on a pro-forma basis Leverag
Slide 12: Pro-forma Offer
Pro-forma Offer PARTNERSHIP CAPITAL Current units outstanding1 397.2 Newly issued units (estimate) 17.8 Pro-forma total units outstanding 415.0 % increase in # units outstanding 4.5% HIGH LEVEL CORPORATE LIQUIDITY SUMMARY US$ BILLIONS AMOUNT Corporate liquidity at March 31, 20192,3 $ 1.7 Disclosed t
Slide 13: Appendix – Reconciliation to non-IFRS measures
Appendix – Reconciliation to non-IFRS measures
Slide 14: Reconciliation of Non-IFRS Measures to IFRS Measures
Reconciliation of Non-IFRS Measures to IFRS Measures The following table reconciles net income attributable to the partnership, the most directly comparable IFRS measure, to FFO, a non-IFRS financial metric: The following table reconciles net (loss) income per limited partnership unit, the most dire
Slide 15: Reconciliation of Non-IFRS Measures to IFRS Measures
Reconciliation of Non-IFRS Measures to IFRS Measures Brookfield + The following table reconciles net income attributable to the partnership, the most directly comparable IFRS measure, to FFO, a non-IFRS financial metric: Three months ended _ 12 months ended USS MLLONS, UNAUOITED March 31,2019 Decemb
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