Abu Dhabi’s Mubadala posts 324% increase in 2019 income

Abu Dhabi investment company, Mubadala posted Dhs53bn in total comprehensive income (TCI) for 2019, up from Dhs12.5bn in 2018, it announced on June 11.

The 324 per cent increase in income was driven by the investor’s public equities portfolio and funds, as well as the company’s assets across various sectors.

At end of 2019, its assets under management (AUM) stood at Dhs853bn, compared to Dhs840bn in 2018.

Mubadala deployed a total of Dhs68bn in various asset classes and across growth sectors, ranging from credit to technology, life sciences, health care, renewables, transportation and agribusiness.

In 2019, Mubadala realised Dhs63bn in monetisation of mature assets and distributions from local and foreign investments.

Group chief executive officer and managing director, Khaldoon Khalifa Al Mubarak, said: “Responsible deployment of capital, strong partnerships and agile investing remain at the core of Mubadala’s strategy. And now, as the world faces a global pandemic, we are working across our portfolio in partnership with communities which have been hit hard by Covid-19.”

“2019 was a remarkable year for Mubadala. Not only did we deliver strong financial results, but we also continued to grow our presence across multiple asset classes in key sectors and markets to help further diversify Abu Dhabi’s economy.”

“In 2019, we continued to manage our balance sheet carefully, with a prudent debt-to-equity ratio of 11.8 per cent. With a strong cash position, we will continue to look for opportunities in public funds and private assets as we manage through this complex economic cycle, while remaining a long-term, patient investor,” added chief financial officer, Carlos Obeid.

As much as 43 per cent of Mubadala’s portfolio comprises of direct and indirect investments in private equity, with 21 per cent in public markets and 11 per cent in real estate and infrastructure, among others.

Earlier this month, Mubadala invested $1.2bn in Jio Platforms Ltd, the digital upstart of India-based Reliance Industries.

Read: Ambani’s Jio platforms sells $1.2bn stake to Mubadala