Mumtalakat 2020 Annual Report
Annual Report 2020
MANAGING CHANGE
Creating pathways to success
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INTRODUCTION

By any measure, 2020 was a year of change and unprecedented challenges globally, which tested the resilience of our portfolio as the Covid-19 pandemic hijacked an already volatile regional and global geopolitical climate. Supply chains were disrupted and economies and businesses were pushed to their limits. Our long-term vision and approach complemented our active management of our portfolio companies, enabling us to navigate safely through one of the most challenging and disruptive years experienced thus far, while preparing for an expected phase of recovery and growth in 2021.

PORTFOLIO HIGHLIGHTS

Despite the difficult and diverse Covid-19 challenges faced individually by each of our sector partners, outstanding performances proliferated across the portfolio.

Aluminium Bahrain’s operational
output in excess of

0

tonnes

increased sales
volumes by

0
%

alongside an
achievement of

0

safe working
hours.

Bahrain’s leading telecoms provider, Batelco, produced

10
%

growth
in net profits

and made further development of its 5G infrastructure, a significant contribution to the Kingdom’s digital economy.

In the financial sector, the National Bank of Bahrain maintained strong liquidity, with a robust balance sheet and ratios, while seamlessly absorbing the majority stake of Bahrain Islamic Bank.

nbb

Bahrain Airport Company managed the transfer of airport operations to the New Passenger Terminal Building and completed the development of new CIP Lounges to serve all other airlines in the New Passenger Terminal Building. To be launched in January 2021, the new terminal is four times the size of the legacy airport increasing the airport’s capacity to 14 million passengers per year. Delivering a hassle-free airport experience with the highest standards of luxury including a multi-storey Car Park, Central Utilities Center, and the setting up of temporary PCR testing facilities.

Mumtalakat entered into a partnership with Prodrive International. The partnership builds on Prodrive’s expertise in the construction of championship winning race and rally cars. Bahrain Raid Extreme (BRX) racing team achieved

place with Prodrive’s car in its first-year
entry in Dakar rally in Saudi
Arabia which is a new record.

In 2017, Mumtalakat and Arcapita partnered to acquire an equity stake in NAS United Healthcare Services LLC. Over the past three years, the consortium supported the company’s execution of a series of organic and inorganic growth initiatives, including entering into a partnership with another major UAE third-party administrator, Neuron L.L.C. In 2020, Mumtalakat and Arcapita exited their investment in NAS Neuron Health Services L.L.C. to a leading US-based Fortune 500 company. The successful investment has exceeded target returns over a three-year holding period.

YEAR IN REVIEW

Preloader
  • gaa

    Jan

    Bahrain Airport Company signed an agreement with Gulf Aviation Academy to provide civil aviation security training to hundreds of airport-stationed Ministry of Interior personnel each year.

  • Jan

    Jan

    The American University of Bahrain (AUBH) held its first Open House of 2020, on its state-of-the-art Campus in Riffa, since opening in September 2019. The event, in partnership with Mumtalakat, was under the theme “Skills That Employers Look for Today”. The event offered a preview into AUBH’s approach as an institution, aiming to elevate the quality of education in Bahrain.

  • Feb

    Feb

    New joint venture established with Prodrive, the British motorsport and engineering group, building on Prodrive’s extensive experience in developing champoinship winning race and rally cars.

  • Feb

    Feb

    Mazad and Edamah announced their first partnership to introduce online auctions in cooperation with renowned specialised auction companoes as part of the Group’s asset-sale portfolio.

  • April

    April

    Gulf Air introduced its ‘Golden Principles’ for health and safety of passengers and crew, setting the highest standards of health security to combat the coronavirus. These measures included modified seating arrangements on board, maintaining distance at check-in counters and boarding gates, recommendation that all passengers wear masks and gloves when travelling, disinfection of all aircraft after every flight, meals served in disposable containers, and the removal of all non-essential items on board such as paper materials, headrests, blankets, pyjamas and amenity kits.

  • July

    July

    Gulf Air repatriated 24,545 passengers from different countries due to the COVID-19 pandemic, it also transported 4,197 tons of imported food supplies from different parts of the world

  • Aug

    Aug

    Edamah opened the Salmaniya multi-storey car park, supporting the critical medical services provided by Salmaniya Medical Complex, providing staff, patients and visitors spacious and modern parking facilities with air conditioned lobbies, glazed sliding doors for ease of movement, as well as disabled and public toilets.

  • Aug

    Aug

    Sale of joint stake with Arcapita Group Holding in NAS Neuron Health Services L.L.C., exceeding traget over a three-year holding period.

  • sep

    Sep

    Complete separation of BNET’s information systems technologies from Batelco with the successful launch of both the operations and business support systems. BNET will provide broadband network services to all licensed operators (including Batelco), whereas Batelco will focus solely on retail and corporate operations.

  • sep2

    Sep

    American School of Bahrain welcomed students to its brand-new, state-of-the-art campus.

  • bahrainairportcompany

    Sep

    Work started on the second and final phase of the construction of the new passenger terminal at the Bahrain International Airport.

  • F1

    Nov

    BIC successfully hosted back-to-back F1 races. A number of grandstand seats were allocated for families of frontline health workers and first responders in Bahrain, to recognise their incredible contribution and commitment in responding to the pandemic in the Kingdom.

Portfolio Diversification

Our portfolio consists of over 60 companies across various sectors in 14 countries, of which 62% is based in the Middle East and North Africa, 30% in Europe and 8% in North America.

BY SECTOR

BY GEOGRAPHY

OUR TEAM

Our highly qualified and passionate workforce is a key driver of Mumtalakat’s success.

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OUR TEAM

Our highly qualified and passionate workforce is a key driver of Mumtalakat’s success.

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OUR TEAM

Our highly qualified and passionate workforce is a key driver of Mumtalakat’s success.

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%

TO ACCESS THE FULL 2020 ANNUAL REPORT PLEASE CLICK HERE

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