IR Magazine Nordic Awards 2008

So much has happened since last year’s IR Magazine Nordic Awards in Oslo. Little did we know then that the Nordic region’s bullish days were already numbered, as it teetered on the brink of the global subprime mortgage crisis.

Yet there were no signs of despondency at the gala awards held in Copenhagen this year. IROs were in particularly high spirits, with some of them entertaining the audience with wisecracks as they picked up trophies for outstanding IR in a tough climate.

‘On the balance sheet, there’s a left side and a right side. On the left side nothing’s right, and on the right side nothing’s left,’ joked Martin Gottlob, head of IR at Danske Bank, as he collected the grand prix for best overall investor relations.

Despite undergoing its fair share of losses in the credit crunch, the Danish banking giant echoed its performance in last year’s awards by picking up a further four awards for best use of technology, best IRO (for Gottlob), best IR for a large cap and best IR support by a CEO/CFO at a Danish company.

Several guests had flown over from neighboring Nordic regions at an unsociable hour in the morning to attend an all-day conference hosted in Copenhagen by the Nordic Investor Relations Society. Clearly unfazed by the long day, however, Johannes Rudbeck made a gazelle-like leap onto the stage to collect Swedbank’s award for most progress in IR, much to the crowd’s amusement.

This set a curious precedent for later award winners, such as DnB Nor’s Helge Stray, who tried to improve on Rudbeck’s acrobatic attempts when he collected his prize for best corporate governance.

Prior engagement
Not all recipients demonstrated the same zeal. Sadly, Holmen CFO Anders Almgren wasn’t around to pick up his trophy for most supportive CEO/CFO from Sweden. In his place, Carsten Borring, head of listing in the Danish office of NASDAQ OMX, took to the stage, saying simply: ‘Thanks. I hope he’s having a nice time watching the football instead.’

According to the fund managers and analysts who voted for Scandinavia’s winning companies in IR magazine’s Investor Perception Study, Nordic 2008/2009, Sweden is considered to provide the best IR. Praise was lavished on Swedish IROs for providing ‘straightforward and honest communication’ as well as ‘higher-quality information’.

Comments about award winners alluded to their professionalism during the liquidity crisis and the fact that they actually become more open, rather than instinctively clamming up, in times of uncertainty.

IROs certainly showed no signs of clamming up as the awards moved from the lavish Hotel d’Angleterre to an after-party with 1950s-style rock ’n roll dancing at LA Bar. Roll on Helsinki next year.

Nordic award winners

Grand prix for best overall IR
Winner
Danske Bank (Denmark)
Highly commended
DnB Nor (Norway), Novo Nordisk (Denmark), Stora Enso (Finland)

Best use of technology for investor relations
Winner
Danske Bank (Denmark)
Highly commended
Nokia (Finland), Novo Nordisk (Denmark), Stora Enso (Finland)

Best corporate governance
Winners
DnB Nor (Norway), Nokia (Finland)
Highly commended
Nordea (Sweden), Novo Nordisk (Denmark)

Most progress in investor relations
Winner
Swedbank (Sweden)
Highly commended
Kone Corporation (Finland), Cramo (Sweden), TrygVesta (Norway)

Best corporate literature
Winner
Novo Nordisk (Denmark)
Highly commended
Atlas Copco (Sweden), Danske Bank (Denmark)

Best investor relations officer
Winner
Martin Gottlob – Danske Bank (Denmark)
Highly commended
Mads Veggerby Lausten – Novo Nordisk (Denmark), Petra Thorén – YIT Corporation (Finland)