Mubadala Investment Company announces H1 2017 financial results

Mubadala Investment Company has announced its half-year 2017 financial results ending 30th June, 2017, and has announced that revenues were AED83.4 billion, compared to AED72.9 billion for the same period in 2016 due to strong performance and higher revenues across Mubadala’s four investment platforms.

The results incorporate the Mubadala Development Company, MDC, and International Petroleum Investment Company, IPIC, financial statements from the first half of 2017.

Commenting on the announcement, Group Chief Executive Officer and Managing Director, Khaldoon Khalifa Al Mubarak, said, "The results from the first half of 2017 reflect the strength and scale of Mubadala Investment Company’s diversified global portfolio and robust balance sheet. We will continue to integrate, optimise and grow the company’s assets under our global business platforms, to create and realise maximum financial and strategic returns to support diversification of the economy of Abu Dhabi and the country."

Chief Financial Officer, Carlos Obeid, said, "In the first half of 2017, we worked to integrate the two portfolios under the Mubadala Investment Company. We managed our costs prudently, while monetising mature assets and growing our profit as we reduced our overall leverage."

Mubadala Investment Company’s four global business platforms are: Alternative Investments and Infrastructure, Petroleum & Petrochemicals, Technology, Manufacturing and Mining, and Aerospace, Renewables and Information & Communications Technology.