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    7010   SA0007879543

SAUDI TELECOM COMPANY

(7010)
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Oxford Report: 120% growth in the female workforce over 3 years

09/08/2021 | 06:12am EDT

Sep 08, 2021

Oxford Report: 120% growth in the female workforce over 3 years

The Oxford Business Group's report revealed that the female workforce in stc Group workforce grew by 120% between 2018 and 2020, with female workforce occupying 30% of the leadership positions.
The report highlighted the remarkable leap that the Kingdom of Saudi Arabia has seen in improvement of the digital government services, noting that the wireless broadband project has achieved its main objectives for the year 2020 by reaching about 2.6 million users at 500,000 homes across the Kingdom and providing information and communication technology (ICT) services with an average internet access speed of 10 megabytes per second for each home. The report pointed out the initiative launched by the Ministry of Communications and Information Technology in which stc had had the lion's share thanks to its largest and most reliable network in the Kingdom, as about 43% of the population of the five largest cities in the Kingdom received its 5G network coverage.
Focusing on ESG information, the new report indicated that stc Group has made progress in the sustainability file with a 16% decrease in electricity consumption and an 18% decrease in consumption of petroleum materials across its buildings in 2020 compared to 2019. The rate of manufacturing SIMs from recycled plastic increased by 100% in 2019 and 2020, (compared to 33% in 2018). The group also made effective contribution to the digital empowerment of various government and private sectors during the pandemic. The Sustainable Digital Transformation Report, issued by OBG's Information Department, provides an in-depth analysis of Saudi Arabia's long-term vision for economic progress and diversification, along with the ESG principles that support such progress and diversification, in an accessible and easy-to-navigate format, supported by key data and infographics.
The report also covers the steps taken by stc to combat the threat to cyber security, as the Kingdom ranks first in the region in the field of cyber security and 13th globally.
Jana Treeck, OBG's Managing Director for the Middle East, stressed that both telecommunications and digital technologies sectors have proven their critical importance during the pandemic by providing online solutions and supporting business continuity on a large scale under social distancing measures and restrictions on movement. She expected that the digital transformation in the Kingdom will gain momentum due to increased awareness and encouragement of technical innovations.
The sustainable digital transformation report is one of a series of specially designed studies that the global research and consultancy company is working on in cooperation with its partners, making use of the best relevant research tools, including a wide range of articles and interviews that highlight ESG.

Disclaimer

Saudi Telecom Company SJSC published this content on 08 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2021 10:11:08 UTC.


ę Publicnow 2021
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Sales 2021 62 846 M 16 756 M 16 756 M
Net income 2021 12 502 M 3 333 M 3 333 M
Net cash 2021 2 282 M 609 M 609 M
P/E ratio 2021 18,3x
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Nbr of Employees -
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 117,00 SAR
Average target price 121,68 SAR
Spread / Average Target 4,00%
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Managers and Directors
Olayan Mohammed Al-Wetaid Chief Executive Officer
Ameen Fahad ben Abdulaziz Al-Shiddi Chief Financial Officer
Mohammed Khaled Al-Abdullah Al-Faisal Chairman
Haithem Mohammed Mujil Al-Faraj Senior Vice President-Technology & Operations
Abdulaziz Abdullah Al-Qatie Vice President-Investment Operations
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