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Thu 10 May 2018 10:29 AM

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Three reasons why Mubadala enjoyed positive results in 2017

The investment firm's annual profits rose by 11.5 percent

Three reasons why Mubadala enjoyed positive results in 2017
Mubadala's strategic investments are helping to stimulate the UAE's economic growth
Three reasons why Mubadala enjoyed positive results in 2017
Mergers: In February of 2017, the company merged with another Abu-Dhabi-based sovereign wealth fund, the International Petroleum Investment Company (IPIC) – a fund that was established in the early 1980s to focus on the global energy market. The new entity had $125bn in total assets, with increased exposure to downstream petrochemical industries – helping to boost Mubadala’s revenues to $45.1bn.
Three reasons why Mubadala enjoyed positive results in 2017
Diversification: With the acquisition of IPIC, Mubadala Investment Company has restructured the organisation to focus on four key pillars: petroleum and petrochemicals; alternative investments and infrastructure; technology, manufacturing and mining, and aerospace. “All four global platforms contributed to our strong financial and operational results,” said group CEO, Khaldoon Khalifa Al Mubarak.
Three reasons why Mubadala enjoyed positive results in 2017
Divestment: Mubadala’s total comprehensive income doubled to AED10.3bn ($2.8bn) in 2017, which was fuelled in no small part by a series of divestments of “mature assets” as well as the increase in value of financial holdings. During the last reporting period, Mubadala sold a 40 percent stake in district-cooling business Tabreed for AED2.8bn as well as shares in chipmaker AMD for AED4.18bn.