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Brookfield Brookfield Infrastructure Reports Record First Quarter Results as FFO Increases 20 % Brookfield , News , May 6 , 2021 - Brookfield Infrastructure ( NYSE : BIP ; TSX : BIP.UN ) today announced its results for the first quarter ended March 31 , 2021 . " After an incredibly resilient 2020 , our business continued into 2021 with a powerful start to the year , led by strong organic growth and several advanced capital recycling initiatives , " said Sam Pollock , Chief Executive Officer of Brookfield Infrastructure . " We are well - positioned to benefit from an extended period of economic expansion , given our inflation - linked revenues and businesses with positive linkage to GDP growth . " US $ millions ( except per unit amounts ) , unaudited¹ Net income² Press Release - per unit³ FFO4 - per unit ( split - adjusted ) 5 LA LA LA LA $ For the three months ended March 31 2021 2020 190 $ $ 0.27 431 $ 0.93 $ 119 0.13 358 0.77 Brookfield reported net income for the three - month period ended March 31 , 2021 of $ 190 million ( $ 0.27 per unit ) compared to $ 119 million ( $ 0.13 per unit ) in the prior year . Net income per unit more than doubled , reflecting strong organic growth and contributions from recently completed acquisitions . Current year results also benefited from favorable commodity markets and the recognition of a gain on the partial disposition of our U.S. gas pipeline . These positive factors were partially offset by lower unrealized gains recognized on our corporate hedging program relative to the prior year . Funds from Operations ( or FFO ) of $ 431 million for the quarter increased by 20 % over the same period last year as a result of strong base business growth and the contribution from new investments acquired in 2020. FFO grew organically by 8 % due to inflationary tariff increases , modestly higher volumes associated with the early stages of the economic recovery , and the completion of $ 800 million of new capital projects during the last 12 months . Results for the quarter were further supplemented by favorable market dynamics produced by weather events that led to exceptional performance in our midstream segment . These positive factors were partially offset by the impact of foreign exchange in a number of our segments and a higher management fee relative to the prior year . Brookfield Infrastructure Partners L.P. 1