The following is a summary of the Brookfield Infrastructure Partners (BIPC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Brookfield Infrastructure reported Q1 2024 funds from operations (FFO) at $615 million, an increase of 11% compared to the same period last year.

• Utilities segment contributed an FFO of $190 million, with an organic growth rate of 8%.

• The Transport sector posted an FFO of $302 million, a significant 57% increase from Q1 2023.

• The company's Midstream segment and Data segment provided FFOs of $170 million and $68 million respectively, steady with last year's figures.

• Through their Triton container leasing business, the company noted good rates and substantial asset utilization.

Business Progress:

• Brookfield Infrastructure has maintained strong momentum in their North American and European data center platforms.

• The company anticipates that about 670 megawatts of booked but not built capacity within their global data center platform will come online in the next three years.

• Significant investments for the quarter included the acquisition of an additional 10% stake in a Brazilian integrated rail and logistics provider.

• The company dedicated 80% of backlog capital projects to the utility sector and data centers, focusing on decarbonization and digitalisation trends.

• Financial achievements included the completion of a $1.6 billion financing deal in their Brazilian regulated gas transmission business, resulting in approximately $500 million of proceeds.

• The company is in a strong financial position with over $2 billion available for growth initiatives and an average debt term of seven years.

• They foresee a blend of M&A and organic growth in their data sector, due to high growth opportunities and a lack of sufficient capital among many parties.

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