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The Public Investment Fund (PIF) of Saudi Arabia saw a 13% increase in profits in 2021, totaling SR85.7 billion, compared to SR76.1 billion in profits in 2020.
In a single year, PIF’s revenues increased by 27%, reaching SR228.2 billion. Operating profits increased to SR85.5 billion, while profits from affiliated companies increased by 75%, reaching SR8.6 billion. Other operational revenue for the sovereign wealth fund increased by 204 percent to SR7.6 billion, while income from financing expenses increased by 87 percent to SR4.5 billion.
The value of investments in the Fund’s associate companies increased by 2% to SR118.5 billion, while the PIF’s fixed assets increased by 43% to SR292.8 billion. The PIF’s holdings in assets-classified securities climbed by 29% to SR535.3 billion. The overall assets of the Fund increased by 23% to around SR2.54 trillion.
The value of the PIF’s shareholding in the 22 locally listed firms is approximately SR896.17 billion. Along with owning 4% of Saudi Aramco, these businesses also include Saudi Telecom Co. (STC), Ma’aden, Saudi National Bank (Al-Ahli), Saudi Electricity Co., ACWA Power, Riyad Bank, Saudi Tadawul, Elm, Alinma Bank, Kingdom Holding Co., Southern Cement, Emaar, Bahri, Al Akaria, Qassim Cement, Yanbu Cement, Saudi Gas, Eastern C
About 21.03 billion shares in the listed firms are owned by the PIF. The PIF started the Local Content Development Program, which aims to increase the contribution of the Fund and its subsidiaries to local content to 60% by the end of 2025, as well as to support and empower the private sector, stimulate the competitive and innovative advantages of national industries, and increase government spending on local content.
What's your reaction about this news🥰𝙒𝙚 𝙝𝙤𝙥𝙚 𝙩𝙝𝙖𝙩 𝙮𝙤𝙪 𝙡𝙞𝙠𝙚𝙙 𝙩𝙝𝙞𝙨 𝘼𝙧𝙩𝙞𝙘𝙡𝙚. 𝙋𝙡𝙚𝙖𝙨𝙚 𝙨𝙝𝙖𝙧𝙚 𝙞𝙩 𝙬𝙞𝙩𝙝 𝙮𝙤𝙪𝙧 𝙁𝙧𝙞𝙚𝙣𝙙𝙨 𝙖𝙣𝙙 𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚 𝙩𝙤 𝙤𝙪𝙧 𝙬𝙚𝙗𝙨𝙞𝙩𝙚 𝙗𝙮 𝙘𝙡𝙞𝙘𝙠𝙞𝙣𝙜 𝙤𝙣 𝙩𝙝𝙚 𝘽𝙚𝙡𝙡 𝙄𝙘𝙤𝙣 (𝙇𝙚𝙛𝙩 𝘽𝙤𝙩𝙩𝙤𝙢 𝙤𝙛 𝙩𝙝𝙞𝙨 𝙋𝙖𝙜𝙚) 𝙩𝙤 𝙧𝙚𝙘𝙚𝙞𝙫𝙚 𝙣𝙤𝙩𝙞𝙛𝙞𝙘𝙖𝙩𝙞𝙤𝙣𝙨 𝙛𝙤𝙧 𝙚𝙫𝙚𝙧𝙮 𝙏𝙧𝙚𝙣𝙙𝙞𝙣𝙜 𝙖𝙧𝙩𝙞𝙘𝙡𝙚.🥰
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