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Mubadala Round Up

Mubadala Round Up

Mubadala round up: a dramatic 76 percent drop in profits reported for 2010, a new deal signed with Boeing, Mubadala Road Show to start up soon and a potential offer to buy a stake in Dubal


March 29, 2011 4:47 by

We couldn’t help escape the omnipresent mentions of Mubadala in the news these past weeks, which means it is time for one of our round ups of what is happening in Abu Dhabi government-owned investment company.

To start, just this week, Mubadala reported its profit last year fell 76 percent to just short of $300 million. In 2010, the company reported Dh1.1 billion—an amount that also pales in comparison to the Dh 4.6 billion profit it reported in 2009.

The drop was attributed to a result of “mark-to market investments” (which “losses indicates that the selling price of securities have declined below their prespecified contract price” or at least that is what Gulf News says).

In 2010, Mubadala’s total assets increased by 14 percent to Dh101.5 billion and the company said its performance was largely driven by the “strong performance in the aerospace, infrastructure and oil and gas business.”

Mubadala has been working towards diversifying its investment portfolio dramatically. In 2008, oil and gas made up 81 percent of Mubadala’s total revenues.

But a look at the company’s revenues for 2010 shows just how successful Mubadala has been in its attempts to diversify its investments:  oil and gas contribute to only 38 percent of the revenues, with infrastructure accounting for 31 percent and aerospace accounting for 31 percent of total revenues.

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