São Paulo – Mubadala’s, the investment company of Abu Dhabi, had 12% greater revenues in 2012, climbing from US$ 7.6 billion in 2011 to US$ 8.52 billion last year. The company announced its financial results on Thursday (11).
According to a press statement by the company, the growth in revenues was due to the good performance of Globalfoundries (a maker of semiconductors), Mubadala Petroleum, Mubadala Aerospace and Yahsat, in satellite communication.
Mubadala’s operating revenues more than doubled last year, rising from US$ 326.73 million in 2011, to US$ 707.91 million. The company ended the year of 2012 with total assets of US$ 55.21 billion, 15% more than in 2011.
“Our 2012 financial performance is a reflection of how we manage our portfolio, with certain key assets and projects reaching further maturity and improved market conditions positively impacting the value of many of our financial investments,” said Khaldoon Khalifa Al Mubarak, CEO and managing director at Mubadala, in a company press statement.
“Looking ahead we remain resolutely focused on building our globally integrated business, creating further opportunities for current and future generations and helping realize Abu Dhabi’s ambition of becoming a diversified and innovation-driven economy,” finished off the executive.
*Translated by Mark Ament
