Market Miscellaneous

Mubadala Announces First Half 2012 Financial Results

Abu Dhabi: Shareholders. A key part of Mubadala’s mandate remains the development of human capital and the creation of opportunities for present and future generations of Emiratis. During the period, Mubadala has enabled employees to undertake CFA program qualifications, the ATIC Al Nokhba scholarship, internships with Mubadala Aerospace and the Masdar Institute, and through its partnership with GE, the Leadership Acceleration for Business (LAB) program.

Revenues increased 18 per cent to AED 16.0 billion compared to AED 13.5 billion for H1 2011, driven by revenues from GLOBALFOUNDRIES, Mubadala Petroleum, Mubadala Aerospace assets, and Yahsat.

Operating income grew to AED 2.2 billion for the period compared to AED 402 million for H1 2011. This increase was driven by contributions from GLOBALFOUNDRIES as well as increases in income from investments in equity accounted assets.

Total comprehensive income increased to AED 1.1 billion for the first half period compared to AED 198 million for H1 2011, driven by a combination of increased operating income, improvements in the fair value of investments and lower impairments.

Total assets increased by 10 per cent from AED 177 billion as of the end of 2011 to AED 195 billion at the end of June 2012, driven by the growth of GLOBALFOUNDRIES, assets under Mubadala Healthcare and new investments.

Total equity increased by 18 per cent from AED 106 billion as of the end of 2011 to AED 125 billion as of the end of June 2012, primarily due to additional cash contributions from Mubadala’s Shareholder, the Government of Abu Dhabi.

Total liabilities ‘&’ leverage Total liabilities decreased to AED 70 billion compared to AED 71 billion as of the end of 2011. Mubadala’s gearing ratio decreased from 22% as of the end of 2011 to 19% at the end of June 2012, reflecting the increase in equity.

Mubadala’s credit ratings were recently reaffirmed amongst the top corporate ratings in the region at Aa3/AA/AA by Moody’s, S’&’P and Fitch, respectively.

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