Mubadala Investment Company of Abu Dhabi today announced its full-year 2017 financial and operational highlights.

According to a statement, revenue totaled AED165.6 billion compared to AED145.4 billion in 2016, driven by the strong performance of all four global platforms, with major contributions from upstream and integrated, petrochemicals and the semiconductor business sectors.

Group Chief Executive Officer and Managing Director, Khaldoon Khalifa Al Mubarak, said, "2017 was a landmark year for our new organisation. All four global platforms contributed to our strong financial and operational results. The scale of our integrated portfolio enabled us to increase investments in existing companies and monetize mature assets, while entering new sectors in key international markets where we see long-term growth potential and alignment with Abu Dhabi’s strategic priorities."

Operating income was AED10.7 billion compared to AED9.6 billion in 2016, with petrochemical and aluminum manufacturing assets were major growth drivers.

Mubadala Investment Company, MIC, was formed through the merger of Mubadala Development Company, MDC, and International Petroleum Investment Company, IPIC, in 2017. MDC and IPIC, both wholly owned subsidiaries of MIC, hold credit ratings by Moody’s, Standard and Poor’s and Fitch of Aa2/AA/AA respectively.

Chief Financial Officer, Carlos Obeid, said, "In 2017 we made significant progress by reducing overall leverage while maintaining appropriate liquidity to deploy capital in new investments. In addition, we took the opportunity to monetise some of our mature assets which provided a significant return on our original investments, in line with our mandate to deliver financial returns to our shareholder."

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