In February 2019, Dawiyat Integrated Telecommunications and Information Technology, a subsidiary of SEC, signed a memorandum with Nokia to develop a 5G network in Saudi Arabia. The collaboration is designed to support the National Transformation Program (NTP) 2020 and Saudi Vision 2030. Both companies will participate in the development of about 10 million intelligent telecommunication network meters.
Also in 2019, the new SEC power transmission station, Qaryat al-Ulya, began its work with a total investment of 220 million rials.
The project was implemented using the latest technology to support Saudi efforts to reduce dependence on oil revenues.
In June 2019, the SEC subsidiary, Dawiyat Telecom, completed the first phase of the deployment of fiber optic networks in Sudair, Jeddah, Dammam, and Harje.
The step was implemented as part of the National Industrial Development and Logistics Program (NIDLP). The project aims to develop a digital infrastructure that will allow the use of 5G and the Internet of Things (IoT).
Q2 2015 Consolidated Financial Result
Net income decreased by 57.28% to 789 million rials, compared with 1,184 billion rials in the second quarter of 2018. The company attributes the profit figures to lower electricity sales and higher financing costs.
Saudi energy firm revenues fell 38.04% year-on-year to 1,82 billion riyals over three months period from April to June. For the first half of 2019, the company suffered a loss of 700 million riyals against a profit of 633 million riyals in the first half of the year.Revenue decreased by 4.07% to 27,91 million riyals.
Despite temporary losses, the Saudi Electricity Company is responsible for providing efficient services with the highest quality performance.
|Citigroup||Stock Citigroup - course and charts||6||67.59|
|Manchester United||Stock Manchester United - course and charts||10||15.5|
|Exxon Mobil||Stock Exxon Mobil - course and charts||6||60.53|
|NIKE||Stock NIKE - course and charts||6||128.65|
|Santander group||Stock Santander group - course and charts||8||3.86|
|COCA-COLA||Stock COCA-COLA - course and charts||6||53.92|
|JPmorgan Chase and CO||Stock JPmorgan Chase and CO - course and charts||6||147.86|
|MICROSOFT||Stock MICROSOFT - course and charts||6||260.21|
|Chevron||Stock Chevron - course and charts||6||103.68|
|Banque Saudi Fransi||Stock Banque Saudi Fransi - course and charts||25||37.83|
|Stock Facebook - course and charts||6||330.05|
|Arab National Bank||Stock Arab National Bank - course and charts||15||22.11|
|BOEING||Stock BOEING - course and charts||10||237.83|
|Saudi British Bank||Stock Saudi British Bank - course and charts||10||31.78|
|General Electric||Stock General Electric - course and charts||6||12.76|
|FERRARI||Stock FERRARI - course and charts||10||200.09|
|Riyad Bank||Stock Riyad Bank - course and charts||8||26.83|
|AMAZON||Stock AMAZON - course and charts||24||3498.12|
|Goldman Sachs Group||Stock Goldman Sachs Group - course and charts||6||349.75|
|Deutsche Bank||Stock Deutsche Bank - course and charts||8||12.89|
|Saudi Electricity||Stock Saudi Electricity - course and charts||6||24.15|
|Saudi Investment Bank||Stock Saudi Investment Bank - course and charts||8||17.19|
|Tesla Motors||Stock Tesla Motors - course and charts||14||623.68|
|Intel||Stock Intel - course and charts||10||56.24|
|WalMart||Stock WalMart - course and charts||6||135.42|