Almarai and SABIC among Best World 100 Competitive Companies
Two Saudi companies entered the listing of “Best World 100 Competitive Companies” in accordance with a report issued by Boston Consulting Group “BCG”. Almarai and SABIC joined the list with 11 others from the Middle East region namely from Egypt, UAE, and Turkey.
According to the report, BCG used quantitative and qualitative criteria to list the international companies in the “Best World 100 Competitive Companies” including annual revenues no less than USD 1b, number of staff exceeding 1000, growth rates exceeding GDP growth in their local markets or sector’s growth average, and EBIT exceeding sector’s EBIT average. The criteria also included the size and type of existence outside the company’s home country, and then overseas sales should exceed 10%, or gaining USD 500m by virtue of mergers and acquisitions.
The report noted that the listed companies in the Middle East achieved exceptional accomplishments on more than one level, particularly achieving growth and profits and building exceptional value for the stockholders, compared to local and international peers in advanced markets.
The report sang its own praises by stating that the companies listed in the “Best World 100 Competitive Companies” have growth rates higher than S&P 500 and MSCI for emerging markets.
On his part, Abdullah Al-Otaibi, Almarai’s Public Relations Manager, said that Almarai’s entering this famous list is the result of a long history of conforming to quality standards. He added that the selection of Almarai together with SABIC as the only Saudi companies on the list adds new responsibilities on the staff to maintain the satisfaction and trust of the customer.
It is noteworthy that Almarai, which was established in 1977, is the world’s largest vertically integrated dairy company. It was listed publicly in the Saudi Stock Exchange in 2005. It exports its products to GCC countries on the largest transport fleet vehicles in the Middle East.