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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 significant holdings in global industrial and services companies based in Europe.

Power Financial Website

Latest reports
2018 Annual Report
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1st Quarter 2019 Report
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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.

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

 

IGM Financial

IGM Financial

IGM Financial is a leading wealth and asset management company supporting over 35,000 advisors and both individual and institutional investors throughout North America, Europe and Asia.

This network of advisors provides a broad range of financial and investment planning services to help more than two million Canadians meet their financial goals.

The company creates value for shareholders through four key areas: IG Wealth Management, Mackenzie Investments, Investment Planning Counsel, Strategic Investment.

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)

Mar. 31
2019

Dec. 31
2018

Mar. 31
2018

Dec. 31
2018

Dec. 31
2017(1)

Revenues(1)

17,648

12,438

10,440

47,025

49,987

Net earnings attributable to common shareholders

536 478 586 2,245

1,717

Net earnings per common share

0.75 0.67 0.82 3.15

2.41

Adjusted net earning attributable to common shareholders(2)

536 460 586 2,282

2,135

Adjusted net earning per common share(2)

0.75 0.65 0.82 3.20

2.99

Dividends declared per common share

0.4555

0.4330

0.4330 1.7320

1.6500

Consolidated assets

462,511 447,055 452,418 447,055

440,224

Shareholders' equity

21,781 21,580 21,079 21,580

20,513

Book value per common share

26.54 26.26 25.56 26.26

24.77

Common shares outstanding (in millions)

714.1 714.1 713.9 714.1

713.9

(1) Comparative figures for 2017 have been adjusted as a result of IFRS 15 as described in Note 2 to the Corporation's December 31, 2018 consolidated financial statements.
(2) Adjusted net earnings attribuable to common shareholders and adjusted net earnings per common share are non-IFRS financial measures. Refer to the "Non-IFRS Financial Measures and Presentation" section of the Corporation's most recent and annual Management's Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.

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

2018

2017

2016

2015

2014

Consolidated Balance Sheets

         

Cash and cash equivalents

5,624

5,321 4,396 4,188

3,989

Total assets

447,055

440,224 418,407 417,630

373,843

Shareholders' equity

21,580

20,513 19,481 19,473

16,942

Consolidated Statements of Earnings

         

Revenues

         

Premium income, net(1)

35,440

33,880 31,125 24,501

21,222

Net investment income 

2,822

7,610 10,203 4,319

13,563

Fee income(1)

8,763

8,497 7,794 7,692

6,990

Total revenues

47,025

49,987 49,122 36,512

41,775

Expenses

       

 

Total paid or credited to policyholders

32,068

35,643 34,675 22,842

29,160

Commissions(1)

3,512

3,712 3,590 3,133

2,901

Operating and administrative expenses(1)

6,997

7,002 6,380 5,883

5,162

Financing charges

360

432

412

413

413

Total expenses

42,937

46,789 45,057 32,271

37,636

Earnings before investments in jointly controlled corporations and associates, and income taxes

4,088

3,198 4,065 4,241

4,139

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

94

200 (98) 224

211

Earnings before income taxes

4,182

3,398 3,967 4,465

4,350

Incomes taxes

602

584 581 679

834

Net earnings

3,580

2,814 3,386 3,786

3,516

Attributable to

         

Non-controlling interests

1,197

964 1,343 1,337

1,248

Perpetual preferred shareholders

138

133 124 130

132

Common shareholders

2,245

1,717 1,919 2,319

2,136

 

3,580

2,814 3,386 3,786

3,516

Per share

         

Net earnings attributable to common shareholders

3.15

2.41 2.69 3.25

3.00

Adjusted net earnings attributable to common shareholders(2)

3.20

2.99 2.99 3.14

2.96

Dividends declared on common shares

1.73

1.65

1.57

1.49

1.40

Book value per common share

26.26

24.77 23.69 23.69

20.18

Market price (Common shares)

         

High

34.88

37.00 34.70 38.78

36.70

Low

25.21

31.91 29.02 30.28

30.14

Year-end

25.83

34.54 33.56 31.81

36.18

(1) Comparative figures for 2017 have been adjusted as a result of IFRS 15 as described in Note 2 to the Corporation's December 31, 2018 consolidated financial statements.
(2) Adjusted net earnings attribuable to common shareholders per share is a non-IFRS financial measure. Refer to the "Non-IFRS Financial Measures and Presentation" section of the Corporation's most recent Management's Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.

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