Mubadala Investment Company, an Abu Dhabi sovereign investor, today released its 2019 Annual Review.
In 2019, Mubadala achieved a Total Comprehensive Income of AED 53 billion for the year, compared to AED 12.5 billion in 2018, driven by Mubadala's public equities portfolio and funds, as well as the company’s assets across various sectors.
Mubadala concluded a number of key transactions as it established new partnerships to invest locally and internationally across sectors that contribute towards the advancement of Abu Dhabi’s economy and its diversification. A total of AED 68 billion was deployed in various asset classes and across growth sectors, ranging from credit to technology, life sciences, health care, renewables, transportation and agribusiness.
Monetization of mature assets and distributions from investments totalled AED 63 billion in 2019, as Mubadala continued to align and optimize its portfolio according to its long-term strategy.
At year-end, Assets under Management stood at AED 853 billion, compared to AED 840 billion in 2018.
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.”
Chief Financial Officer, Carlos Obeid, added: “In 2019, we continued to manage our balance sheet carefully, with a prudent debt-to-equity ratio of 11.8%. 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.”
Key financial and operational highlights from 2019 included:
Mubadala reiterates its intent to begin publishing, as part of its public disclosure in 2021, benchmarking against long-term indices, rather than other metrics that are no longer relevant to a long-term investor such as annual revenue or annual net income.