Schouw & Co. wins PwC’s annual report award

”In a category comprising Danish Large Cap listed companies outside C25 and among unlisted companies, Schouw & Co. wins PwC’s annual report award ”Regnskabsprisen+ 2018” for having prepared the best annual report. The annual report features intelligible information about a very complex business making it the best annual report in the category.”

And so begins a press release on PwC’s website this morning.

Yesterday, CFO of Schouw & Co. Erik Weimar Rasmussen received ”Regnskabsprisen+ 2018” on behalf of Schouw & Co. at a  ceremony at PwC HQs in Hellerup, Denmark, after a professional, independent and broadly combined panel of judges honored Schouw & Co. for their 2017 annual report. The judges noted that Schouw & Co. had worked on making the description of a complex and large business easy to understand. The annual report was hence selected as the best in the category – and a source of inspiration to others.

At the ceremony the panel of judges said: ”Despite Schouw & Co. being a conglomerate they have succeeded in giving a governing uniform and in-depth treatment of the whole group. This is particularly  praiseworthy seeing that this task may seem difficult for a conglomerate’s annual report.”

The judges pointed out that Schouw & Co. in general had prepared an impressive and reader-friendly annual report in which the whole group is included, and where the financial statements are of high quality with good and comprehensive notes supporting and explaining the development in the figures, and that the annual report has a very high degree of information.

The panel of judges praised the performance management in the annual report and noted that Schouw & Co. guides the reader through the company’s investment model which is illustrated in the report with an outline of objectives of the active ownership of the portfolio companies, including Schouw & Co.’s role, strategy and strategic objectives. The judges emphasized the fine description of Schouw & Co.’s  expectations for the future and EBITDA for each portfolio company comparing the figures to the equivalent realized figures of both last year and the year before.

Furthermore, the panel of judges pointed out the annual report’s mention of both the financial development during the year and the business development and expectations in each portfolio company, and the fact that information on value creation and growth potential is also available.

The judges had decided that the balance between graphics and text through the entire report is good, and that the use of a progress bar at the top of each page in the annual report provides the reader with a fine overview and makes it easy to navigate through the electronic annual report.

“We are of course very proud about being awarded the prize, and we are very happy that the new layout of our annual report is well received by our readers. Openness and credible communication is an integrated way of how we run the conglomerate”, says President of Schouw & Co., Jens Bjerg Sørensen.

About Regnskabsprisen+

Behind the evaluations of the companies is an independent panel of judges, and PwC is its secretariat. The winner is found among the 10 largest unlisted companies and Large Cap companies outside C25, who prepare their annual report subject to IFRS (and who have released their annual report no later than by 1 May), and whose report excels within three selected topics.