More than 250 IROs and company executives from the Nordic region gathered in Reykjavik on May 26 at the city’s swish Nordica Hotel for the IR Magazine Nordic Awards 2005. It is the fifth awards event for the region, but the first one to be held in Iceland.
The timing was appropriate given the nation’s phenomenal European business expansion in recent years as well as the founding of the Icelandic Investor Relations Society. And Reykjavik, with its beautiful ocean view and dramatic mountain scenery, proved a fine backdrop for the sun-lit evening.
Over 180 sell-side and buy-side analysts and portfolio managers were asked to rank the IR efforts of companies in the region. The results confirm what IR magazine has long known: investor relations efforts in the region have become highly sophisticated, not only in the traditionally large markets such as Sweden and Finland, but also, increasingly, in the smaller ones.
The night’s big winner was Finnish paper and forestry products company Stora Enso. It won the grand prix for best overall IR – knocking Nokia off the top spot for the first time – as well as awards in four other categories.
‘Being recognized for our IR in this way must mean that all key elements were working well together – the written material, the web site, our use of senior management and, of course, the IR function,’ notes Keith Russell, Stora Enso’s SVP of IR. ’In particular, we have tried to be as proactive as possible, offering face-to-face meetings regularly and often. In fact, brokers and investors tell us that we travel more than most, so this must play a role. We also don’t use IR as a marketing exercise – we tell it like it is.’
