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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Telecom Company    7010   SA0007879543


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Saudi Telecom : stc launches a new permanent telecommuting policy

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09/08/2020 | 08:05am EDT

Sep 08, 2020

stc launches a new permanent telecommuting policy

stc announced the adoption of a policy that aims to expand telecommuting to include all employees whose work functions do not require their attendance at the company's headquarters, noting that the telecommuting policy was launched about three years ago as part of the company's 'DARE' strategy to promote digital transformation and create a unique employee experience and work environment.
In 2017, stc introduced telecommuting as one of the benefits it offers its employees, allowing them to work remotely 3 days per month, with the aim of fostering greater flexibility in terms of business processes and encouraging reliance on digital solutions. This played a major role in preparing all the company's employees to work remotely and effectively respond to the COVID-19 crisis.
stc Group CEO, Eng. Nasser Sulaiman Al Nasser, confirmed that the company will continue its strategy to promote digital transformation in line with the objectives of the Kingdom's Vision 2030, noting that stc's strategic direction to digitize its business early on proved successful. stc continued to provide 100% of its services through my stc digital platform including device sales and delivery services to homes, despite the tenfold increase in demand for its services.
Given the positive figures regarding employee productivity during the implementation of the telecommuting policy during the coronavirus pandemic, stc decided to expand this policy to include a larger percentage of employees, allowing them to work remotely on a permanent basis, which increases work flexibility, enhances productivity, and creates a healthier work-life balance. This helps increase job satisfaction and facilitates acquiring talented professionals from anywhere in the Kingdom without being limited to the geographical area.
Earlier, several major global companies announced that they had allowed their employees to work remotely, such as Google, Twitter, and Facebook, making stc one of the first companies to adopt telecommuting in the region. stc today is one of the world's prominent digital companies. The company ranks among the top 50 digital companies in the world and the first in the Middle East according to Forbes' rankings. Moreover, Forbes has declared stc as the most powerful telecommunication company in the Middle East.


Saudi Telecom Company SJSC published this content on 08 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2020 11:04:07 UTC

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Sales 2020 56 548 M 15 079 M 15 079 M
Net income 2020 11 177 M 2 980 M 2 980 M
Net Debt 2020 4 383 M 1 169 M 1 169 M
P/E ratio 2020 17,9x
Yield 2020 4,02%
Capitalization 199 B 53 172 M 53 170 M
EV / Sales 2020 3,60x
EV / Sales 2021 3,47x
Nbr of Employees -
Free-Float 30,0%
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Last Close Price 99,70 SAR
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Nasser Sulaiman A. Al-Nasser Group Chief Executive Officer
Mohammed Khaled Al-Abdullah Al-Faisal Chairman
Haithem Mohammed Al-Faraj Senior VP-Technology & Operations
Ameen Fahad ben Abdulaziz Al-Shiddi Chief Financial Officer
Ibraheem Abdul Rahman Hamd Al-Qadi Independent Director
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