Mubadala Investment Company Announces 2017 Financial, Operational HighlightsSource: www.export-egypt.com 4/29/2018, Location: Middle East |
|
|
|
|
|
Mubadala Investment Company of Abu Dhabi announced its full-year 2017 financial and operational highlights.
According to a statement, revenue totaled AED165.6 billion compared to AED145.4 billion in 2016, driven by the strong performance of all four global platforms, with major contributions from upstream and integrated, petrochemicals and the semiconductor business sectors. Group Chief Executive Officer and Managing Director, Khaldoon Khalifa Al Mubarak, said, "2017 was a landmark year for our new organisation. All four global platforms contributed to our strong financial and operational results. The scale of our integrated portfolio enabled us to increase investments in existing companies and monetize mature assets, while entering new sectors in key international markets where we see long-term growth potential and alignment with Abu Dhabi’s strategic priorities." Operating income was AED10.7 billion compared to AED9.6 billion in 2016, with petrochemical and aluminum manufacturing assets were major growth drivers. Mubadala Investment Company, MIC, was formed through the merger of Mubadala Development Company, MDC, and International Petroleum Investment Company, IPIC, in 2017. MDC and IPIC, both wholly owned subsidiaries of MIC, hold credit ratings by Moody’s, Standard and Poor’s and Fitch of Aa2/AA/AA respectively. Chief Financial Officer, Carlos Obeid, said, "In 2017 we made significant progress by reducing overall leverage while maintaining appropriate liquidity to deploy capital in new investments. In addition, we took the opportunity to monetise some of our mature assets which provided a significant return on our original investments, in line with our mandate to deliver financial returns to our shareholder." |
|
|
Financials and Investment News in United Arab Emirates >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |
