Flügger wins award for innovative annual report
At the 2019 Annual Report Award ceremony in Industriens Hus, Flügger won the ‘Spotlight on good annual reports that we can learn from’ prize, for an innovative and inspiring annual report.
The Confederation of Danish Industry (DI) and Danish Auditors (FSR) annually award prizes and diplomas to Danish companies that produce innovative annual reports and financial statements. The primary aim is to find the next major trend that can serve as inspiration for the financial reporting culture in Denmark. Flügger won the prize on 5 September 2019 in the small and mid-caps segment for its innovative annual report.
“Flügger won the prize this year particularly for their honesty, which shines through the annual report. They make it easy for investors to understand Flügger and the company’s DNA”, says Kristian Koktvedgaard, Head of VAT, Accounting & Auditing at DI, who also sits on the Annual Report Award jury.
According to DI, the annual report from Flügger embodies the current trends and focus areas in the financial reporting sector right now. And these are the parameters that are sought after when choosing the winners for the annual award.
Flügger at a brushstroke
Flügger’s annual reports used to be very traditional, but a dry annual report does not fulfil the image the company wants to present to investors.
“In the 2017/18 annual report, we wanted to open up and be more transparent towards investors, and to communicate who Flügger is and where the company is headed. It’s important to have an annual report that is contemporary and groundbreaking in our field", says Poul Erik stockfleth, CFO at Flügger.
Transparent communication with investors
The key to a good annual report is that it tells a story, and does not only contain dry numbers. Winning the award from DI has given Flügger a taste for more, and the desire to continue to move the annual report in an innovative direction.
“We want to continue presenting our annual reports with an innovative angle in the future, and not just several hundred pages of dry numbers. We must continue to have a communicative aspect, focusing on openness and honesty", notes Poul Erik Stockfleth.
The Annual Report Award is given out by DI each year to companies that manage to weave innovation into their annual report. The annual conference also addressed the question ‘What will be the next major steps’, under the slogan ‘Focus on the business and its impact’.
About the Annual Report Award
The Annual Report Award is given to companies whose annual reports stand out from the crowd and offer inspiration to others.
One main prize is awarded, and two other prizes for noteworthy annual reports from small and mid-cap companies.
The Annual Report Award has been given out for more than 40 years. Danish Auditors (FSR) and the Confederation of Danish Industry (DI) have issued the award since 2012.
Winners for 2019
Main prize: ISS
Mid-cap prize: IC Group
Small-cap prize: Flügger
About the jury
The jury consists of representatives from among those who use and present financial statements, and academics and accountants.