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Brookfield Investments Corporation Announces Year End 2013 Financial Results

TORONTO, ONTARIO -- (Marketwired) -- 04/30/14 -- Brookfield Investments Corporation (the "company") (TSX VENTURE: BRN.PR.A) reported $223 million of net income or $4.48 per common share for the year ended December 31, 2013 compared with $48 million, or $0.95 per common share in 2012. Net income increased by $175 million compared to the prior year primarily from the recognition of $132 million of realized and unrealized gains, as well as an increased level of investment income. The increase of investment income is the result of distributions received on the company's indirect investment in Brookfield Property Partners L.P. (BPY), which was acquired in April 2013, and increased pricing and volumes within the company's forest product investments.

Comprehensive income, which consists of net income and other comprehensive income, was $nil in 2013 compared to income of $243 million in 2012. Other comprehensive loss was $223 million during the year, compared to income of $195 million in 2012. The current year loss consists of unrealized losses and negative currency revaluation on the company's investment portfolio.

Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc. Brookfield Asset Management Inc. is a global alternative asset manager with over $175 billion in assets under management, has over 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.A, respectively.

Derek Gorgi, Vice President and Chief Financial Officer, will be available at 416-363-9491 to answer any questions on the company's financial results.

CONSOLIDATED BALANCE SHEETS



                                                     December 31 December 31
(US$ millions)                                              2013        2012
----------------------------------------------------------------------------
Assets
  Current assets
    Deposits receivable                              $       442 $       180
    Securities                                                44         224
    Investments - Securities                                   -         943
  Non-current assets
    Investments - Securities                                 484         245
    Investments - Associates                               1,438         740
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                                                     $     2,408 $     2,332
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Liabilities
  Current liabilities
    Accounts payable and other liabilities           $        14 $         1
    Retractable preferred shares                           1,104       1,142
  Deferred income tax liabilities                             45          58
Equity                                                     1,245       1,131
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                                                     $     2,408 $     2,332
----------------------------------------------------------------------------
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CONSOLIDATED STATEMENTS OF OPERATIONS



Years ended December 31 (US$ millions, except per           2013       2012
 share amounts)
----------------------------------------------------------------------------
Investment Income
    Equity accounted income                            $     112  $      32
    Dividend and interest income                              27         44
  Realized and Unrealized gains                              132          8
  Foreign exchange loss                                       (2)        (1)
  Interest expense                                           (29)       (29)
  Income tax expense                                         (17)        (6)
----------------------------------------------------------------------------
  Net income                                           $     223  $      48
----------------------------------------------------------------------------
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Net income per common share                            $    4.48  $    0.95
----------------------------------------------------------------------------
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME



Years ended December 31 (US$ millions)                      2013       2012
----------------------------------------------------------------------------
Net income                                             $     223  $      48
Other comprehensive income (loss)
  Foreign currency translation                               (48)        26
  Available-for-sale securities - fair value changes          (1)       174
  Equity accounted other comprehensive loss                 (203)        (3)
  Deferred income tax                                         29         (2)
----------------------------------------------------------------------------
                                                            (223)       195
----------------------------------------------------------------------------
Comprehensive income                                   $       -  $     243
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Contacts:
Brookfield Investments Corporation
Derek Gorgi
Vice President and Chief Financial Officer
416-363-9491

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