Partners Value Investments Inc. Announces Q2 2025 Interim Results

TORONTO, Aug. 15, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSX:PVF, PVF.PR.V, PVF.A) announced today its financial results for the six months ended June 30, 2025. All amounts are stated in U.S. dollars.

The Company recorded a net loss of $135 million for the three months ended June 30, 2025, compared to net income of $94 million in the prior year quarter. The decrease in income was primarily due to current period remeasurement losses of $247 million associated with the Company’s retractable common shares, compared to remeasurement gains of $95 million in the prior year quarter. The Company’s retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective appreciation or depreciation of the Partners Value Investments L.P. (the “Partnership”) unit price as the exchangeable shares are recognized at fair value based on the quoted price of the Partnership’s Equity LP units. During the quarter, the Partnership unit price increased by $3.39 compared to a decrease of $1.34 in the prior year quarter. The decrease in net income was partially offset by remeasurement gains of $119 million associated with the Company’s warrants, compared to remeasurement losses of $21 million in the prior year quarter. The Company also recognized remeasurement gains of $21 million associated with its exchangeable shares, not recognized in the prior year quarter. The Company’s exchangeable shares are classified as liabilities due to their exchange feature.

Excluding remeasurement losses on retractable shares, remeasurement gains on exchangeable shares, warrant liability remeasurement gains, and dividends paid on retractable shares, Adjusted Losses for the Company were $21 million for the three months ended June 30, 2025, compared to Adjusted Earnings of $29 million in the prior year quarter. Adjusted Earnings were lower in the current quarter as higher investment income was more than offset by foreign currency losses and lower tax recoveries compared to the prior year quarter.

As at June 30, 2025, the market prices of a Brookfield Corporation ((“BN”, TSX:BN) and Brookfield Asset Management Ltd. ((“BAM”, TSX:BAM) share were $61.85 and $55.28, respectively. As at August 14, 2025, the market prices of a BN and BAM share were $65.60 and $62.11, respectively.

Consolidated Statements of Operations