Hydro’s annual report for 2007 landed both first prizes when the Norway’s traditional and prestigious “Farmand Prize” was awarded on Thursday evening. Hydro came out on top for the second year running in the class for printed reports from listed companies. In addition, the company took the gold award in the class for web-based reporting.
The two prizes were received by Hydro’s Eivind Kallevik, responsible for financial reporting, and Eva S. Mellgren, responsible for web and communication projects, at the award ceremony held at Thon Hotel Bristol in Oslo on Thursday evening.
Hydro also landed the first prize last year for its printed report, while the web-version received the bronze award. But this year the company came away with the top award in both categories.
Kallevik and Mellgren emphasize that the two prizes are a major recognition of all those who contribute to the annual report, whether they are part of the board of directors; corporate management; the business areas or accounts and financial reporting; health, safety and environment; or investor relations and communication. In addition, the company has hired services from the agencies Creuna and Halogen, as well as IS Partner and Making Waves, specializing in graphical production and web publishing.
New concept brought further
Hydro commenced its annual reporting process for the year 2006 by conducting an in-depth target group survey. This resulted in a completely new reporting concept, for both the printed as well as the web-based edition.
This concept was brought further and refined for the 2007 report. This report also placed a lot of emphasis on structuring the written report information in the best possible way, as well as on establishing a stand-alone web edition design in accordance with the requirements set by the web format.
”In the 2007 annual report we reported Hydro as a focused aluminium company for the very first time. It’s highly gratifying to be awarded the top "Farmand Prize” awards for both the printed and the web versions, and to be considered best when it comes to reporting of all the country’s listed companies. This is a real incentive to our continuing efforts,” says Kallevik.
Jury: "An example worth following"
The jury’s citation for awarding the top prizes to Hydro states that "last year’s winner has become a pure aluminium company, but it offers an exceptional range and depth of information this year as well."
"The analytical information and accounts of its operations serve as an example worth following. The report of the board of directors is also exceptionally well written, while the company's prospects are clearly described and its central expectations quantified. The key numbers allow for sound analytical review while the company’s risk analysis is of an impressively high standard," states the citation.
The jury is impressed by the list of clearly-defined targets in each area for 2008, as well as by the evaluation of targets for 2007.
The jury has the following to say about Hydro’s web-based reporting:
"Even though Hydro has become a considerably smaller company after the demergers of recent years, their web pages certainly reveal a grand scope. They are user-friendly, elegant, comprehensive and provide a good overview. The results in the accounts appear to be very solid and the illustrations and graphs are of top quality. Today’s Hydro emerges as a proactive company that clearly communicates its goals and ambitions on its web pages. The elegant navigation software and useful downloading center continue to attract the praise of the jury."