logo Power Financial

Power Financial Corporation is a diversified international management and holding company that holds interests substantially in the financial services sector in Canada, the United States and Europe.

It also has substantial holdings in global industrial and services companies based in Europe.

Power Financial Website

Latest reports
2017 Annual Report
Download
2017 Annual MD&A and Financials
Download

Subsidiaries

Great-West Lifeco

Great-West Lifeco

Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses.

The company has operations in Canada, the United States, Europe and Asia through Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments.

IGM Financial

IGM Financial

IGM Financial is one of Canada’s premier personal financial services companies, and one of the country’s largest managers and distributors of mutual funds and other managed asset products.

The company serves the financial needs of Canadians through multiple distinct businesses, including Investors Group, Mackenzie Investments and Investment Planning Counsel.

Pargesa Holding

Pargesa Holding

Power Financial, through its wholly owned subsidiary, Power Financial Europe B.V., and the Frère family group of Belgium each hold a 50% interest in Parjointco, a Netherlands-based company. Parjointco’s principal holding is a 55.5% equity interest (75.4% of the voting rights) in Pargesa Holding SA, the Pargesa group’s parent company based in Geneva, Switzerland.

The Pargesa group, through the holding company Groupe Bruxelles Lambert, holds significant positions in large companies based in Europe.


Financial Highlights

 

For the three months ended

For the years ended

(In millions of canadian dollars, except per share amounts or as otherwise noted)
(unaudited)

Dec. 31
2017

Sept. 30
2017

Dec. 31
2016

December 31
2017

December 31
2016

Revenues

13,622

10,907

8,576

49,878

49,122

Net earnings attributable to common shareholders

225

463

616

1,717

1,919

Net earnings per common share

0.32

0.65

0.86

2.41

2.69

Adjusted net earning attributable to common shareholders(1, 2)

547

465

547

2,135

2,136

Adjusted net earning per common share(1, 2)

0.77

0.65

0.77

2.99

2.99

Dividends declared per common share

0.4125

0.4125

0.3925

1.65

1.57

Consolidated assets(3)

440,224

426,697

418,407

440,224

418,407

Shareholders' equity

20,513

20,369

19,481

20,513

19,481

Book value per common share

24.77

24.58

23.69

24.77

23.69

Common shares outstanding (in millions)

713.9

713.5

713.3

713.9

713.3

(1) Adjusted net earnings attributable to common shareholders and adjusted net earnings per common share are non-IFRS financial measures.
(2) Comparative figures have been adjusted to reflect other items reported by Lifeco.

(3) Comparative figures have been retrospectively adjusted as described in Note 16 to the Corporation's 2017 Consolidated Financial Statements.

As at and for the years ended December 31
[in millions of Canadian dollars, except as otherwise noted]
(unaudited)

2017

2016

2015

2014

2013

Consolidated Balance Sheets

         

Cash and cash equivalents

5,321

4,396 4,188 3,989

4,344

Total assets(1)

440,224

418,407 417,630 373,843

341,682

Shareholders' equity(2)

20,513

19,481 19,473 16,942

15,916

Consolidated Statements of Earnings

         

Revenues

         

Premium income, net

33,925

31,125 24,501 21,222

20,236

Invesment income, net

7,610

10,203 4,319 13,563

2,661

Fee income

8,343

7,794 7,692 6,990

5,933

 

49,878

49,122 36,512 41,775

28,830

Expenses

       

 

Total paid or credited to policyholders

35,643

34,675 22,842 29,160

17,811

Commissions

3,475

3,590 3,133 2,901

2,590

Operating and administrative expenses

7,130

6,380 5,883 5,162

4,474

Financing charges

432

412

413

413

400

 

46,680

45,057 32,271 37,636

25,275

 

3,198

4,065 4,241 4,139

3,555

Share of earnings (losses) of investments in jointly controlled corporations and associates

200

(98) 224 211

134

Earnings before income taxes

3,398

3,967 4,465 4,350

3,689

Incomes taxes

584

581 679 834

678

Net earnings

2,814

3,386 3,786 3,516

3,011

Attributable to

         

Non-controlling interests

964

1,343 1,337 1,248

984

Perpetual preferred shareholders

133

124 130 132

131

Common shareholders

1,717

1,919 2,319 2,136

1,896

 

2,814

3,386 3,786 3,516

3,011

Per share

         

Net earnings attributable to common shareholders

2.41

2.69 3.25 3.00

2.67

Adjusted net earnings(3)    attributable to common shareholders(4, 5)

2.99

2.99 3.14 2.96

2.40

Dividends declared on common shareholders

1.65

1.57

1.49

1.40

1.40

Book value at year-end(2)

24.77

23.69 23.69 20.18

18.51

Market price (Common shares)

         

High

37.00

34.70 38.78 36.70

36.79

Low

31.91

29.02 30.28 30.14

27.02

Year-end

34.54

33.56 31.81 36.18

36.00

(1) Comparative figures have been retrospectively adjusted as described in Note 16 to the Corporation's 2017 Consolidated Financial Statements.
(2) Comparative figures of 2015 have been retrospectively adjusted.
(3) Previously described as operating earnings.
(4) Adjusted net earnings per share is a non-IFRS financial measure.
(5) Comparative figures have been adjusted to reflect other items reported by Lifeco in 2016.

Scroll To Top