Borregaard wins the Stockman Award
The award of the Norwegian Society of Financial Analysts for the best reporting to the financial market in the SME class has gone to Borregaard this year. Borregaard has won the award in their first full fiscal year since its listing on the stock exchange.
“This is a great recognition of the work we do, and we are very pleased to win this award,” said Chairman and CEO of Borregaard, Per Sørlie.
Borregaard scores high on its ability to communicate strategy, market and industry developments, the availability of key personnel/business visits and corporate and financial presentations.
For the 27th consecutive year, the Stockman Award has been given to the Norwegian listed company which is best at providing on-going information about its business to the financial community and shareholders, and which on the basis of financial analysis principles is considered to have released the best annual and interim financial reports. The award is divided into two classes: the SME class, where Borregaard was successful, and the open class, where Telenor won.
Brokerages and the biggest investors in Norway are asked to suggest three suitable candidates in each class. In addition, members of the Norwegian Society of Financial Analysts (NFF) may also nominate candidates for the Stockman Award.
A specially appointed Stockman Committee considers the proposals. Particular emphasis is placed on the following criteria:
* Transparent and consistent financial statements with supplementary notes
* Adaptability to new laws and accounting rules
* Results-oriented segment reporting that provides a sufficient basis for valuations
* Dissemination of market assessments and strategy for the main business areas
* Quality of the environmental reporting and additional information on value creation according to NFF recommendations
* Investor relations, i.e. work in the form of presentations, business visits, ongoing information, assistance in enquiries, etc.
* Open, credible and consistent information
* Quick and sufficiently detailed information to the market when there is important news
* Management of information in the context of significant unforeseen events/changes in framework conditions
* Definition and practice of good corporate governance in accordance with the Norwegian Code of Practice for Corporate Governance
* Quality and user-friendliness in website and electronic communications
* Equal treatment of analysts and respect for independent financial analysis