Mumtalakat Digital Annual Report

2016 was our 10 year anniversary…

We are proud to celebrate 10 years of steady growth.

We’ve been managing our local assets, enhancing the value of our portfolio and investing successfully around the world. We’ve been benefitting Bahrain and local communities.

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2016


Acquired a stake in an Italian healthcare company, KOS Group

2016

Invested in leading industrial gas player, Gulf Cryo

2016


Acquired a stake in Spanish based aluminium grain refiner, Aleastur

2016


Formed a Joint Venture with Mueller Industries and Cayan Ventures to develop the first copper manufacturing facility in Bahrain

Our financial results reported strong profits for the third consecutive year which reflect our continued solid financial and operational performance across our portfolio and demonstrate the strength and resilience of our investment approach.

2016 was a great year for us. We built upon years of success and made new investments in different sectors and geographies throughout the year.

Our first investment in a water treatment solutions company was made through an equity stake acquisition in Envirogen Group.

Our portfolio presence expanded into Italy where we invested in a leading healthcare services provider, KOS Group.

We acquired an equity stake in leading industrial gas player, Gulf Cryo.

We partnered with Regent Properties to acquire interest in a portfolio of commercial real estate assets in the United States.

We invested in a Spanish-based manufacturer of aluminium grain refiners and master alloys, Aleastur.

We formed a Joint Venture with Mueller Industries and Cayan Ventures to build the first copper tube manufacturing facility in Bahrain.

We co-invested with the Russian Direct Investment Fund (RDIF) in Hyperloop One, a high-speed transportation system company.

Through our partnership with RDIF, we made our first real estate investment in Russia by acquiring a stake in Professional Logistics Technologies

As we aim to diversify the Kingdom’s economy, our portfolio of over 50 companies is broad, both in terms of sectors and geographies. We have investments in 11 sectors across the Middle East and North Africa, Europe and North America.

BY SECTOR

BY GEOGRAPHY

Our investment model is guided by our Board of Directors, led by HE Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of the Board, as well as our executive management team, led by our Chief Executive Officer, Mahmood Hashim Alkooheji.

Chairman’s

Message

Global economic conditions throughout 2016 were largely stable despite continued geopolitical tensions and slow growth. Mumtalakat’s role as a sovereign wealth fund of the Kingdom of Bahrain seeking opportunities for wealth generation and minimal risks has seen it continue to invest heavily in Bahrain while also seeking opportunities in a wider array of important and growing sectors. This has meant that the low oil price environment has not impacted Mumtalakat greatly and its global portfolio has diversified further.

Ten years since its establishment, Mumtalakat is a young investment institution, but its successes have been marked. From a company with 29 assets at outset, today Mumtalakat combines over 50 companies within its portfolio, mostly located in Bahrain and offering around 14,000 job opportunities in the Kingdom. It will continue to evolve as we adapt to the changing world around us and the needs of today and the future generations.

KHALID BIN ABDULLA AL KHALIFA
DEPUTY PRIME MINISTER &
CHAIRMAN OF THE BOARD OF DIRECTORS

CEO’s

Message

It’s been 10 years since Mumtalakat was established, an important journey in our nation’s growth…

We started in 2006 as a small team with a vision to grow the wealth of our Kingdom and I am very happy to see how far we have come since then. Our 2016 performance is a true testament to our progress.

Our numbers speak for themselves. This year we reported solid profits for the fourth consecutive year. Our consolidated net profit went up 140% to 183.2 million US dollars. This reflects the strength and resilience of our approach in building an investment institution for the long-term benefit of Bahrain.

We wouldn’t have accomplished this without the guidance of our Board, led by His Excellency Shaikh Khaled bin Abdulla Al Khalifa, the Deputy Prime Minister.

It’s been delight to work with an outstanding team at Mumtalakat. Their commitment to our values and culture truly contributed to our ultimate goal to generate sustainable wealth for the Kingdom of Bahrain.

MAHMOOD H. ALKOOHEJI
CHIEF EXECUTIVE OFFICER