Why the winners won`:` IR Magazine Awards – Europe 2020

Best practice interviews with Europe’s finest IR teams

Awards

Why the winners won –
IR Magazine Awards –
Europe 2020

Best practice interviews with Europe’s finest IR teams

In the year that IR truly went virtual, it was only fitting that the IR Magazine Awards – Europe did the same. In October we held our first virtual awards for the European IR community, featuring video acceptance speeches, real-time competitions and 29 prizes for the best IR practitioners in the region.

As with other IR Magazine Awards, the gongs were split into two categories. In the awards-by-research categories, the runners-up and winners were decided by a survey of hundreds of investors and analysts. In the awards-by-nomination categories, companies submitted entries that were then judged by a panel of IR experts.

Below, you’ll find video interviews with many of the winners from the night. Click on the conversations to find out how Europe’s best-in-class IR teams have managed the huge challenges of the last year.

Awards by research

UDG Healthcare, Ireland

Best overall investor relations (mid-cap)
Best investor relations officer (small to mid-cap) – Keith Byrne

Working in IR during the Covid-19 pandemic has been challenging and unusual but hugely engaging, says Keith Byrne, head of IR, strategy and corporate communications at UDG Healthcare.

Over the last six months, one of the most effective means of communication with the market has been fireside chats, he says. UDG has always done such events, but the attendance levels during the pandemic have been very strong. The company has also launched a Covid-19 mini-site aimed at both internal and external audiences.

Borregaard, Norway

Best overall investor relations (small cap)

In this video, Jørn Syvertsen, director of IR at Borregaard, discusses the impact of the Covid-19 pandemic on the Norwegian chemicals company. For example, the firm had to close its largest manufacturing operation outside of Norway. But it has been helped by its diversified strategy and flexible approach to manufacturing. Syvertsen also talks about the investor communications around two parts of the business that are used for disinfectant – a crucial part of the fight against Covid-19.

Deutsche Telekom, Germany

Best in sector: communications

One of the main challenges over the last year for Deutsche Telekom has been explaining the impact of the merger of its US subsidiary T-Mobile US with Sprint, explains Hannes Wittig, head of IR at the German telecoms giant. The deal closed in April, leaving Deutsche Telekom with a 43 percent stake in the combined business. Step by step, the uncertainties around the merger are being removed, Wittig explains. He also discusses the company’s shift to a virtual AGM in June.

Nestlé, Switzerland

Best in sector: consumer staples

At the onset of the Covid-19 pandemic, investors and analysts realized their models needed revising and asked for a lot of granular detail, explains John Armstrong, IR manager at Nestlé. Later, they shifted their focus to the longer-term outlook. The firm managed to maintain its guidance during this period, helping to set expectations for the market at a disruptive time. While Nestlé aims to keep up with best practices, it also focuses on simple rules to maintain the quality of its IR program, such as timeliness, transparency and maintaining trust, notes Armstrong.

AstraZeneca, UK

Best in sector: healthcare

AstraZeneca has been using digital communication tools for a long time, so the shift to virtual outreach this year has not been a great change, explains Thomas Kudsk Larsen, head of IR at the pharmaceutical company. A bigger shift has been the drop in time spent on the road, which is positive as it allows you to spend more time at home with your family, he says. As a team leader, Kudsk Larsen says one of the challenges of the last six months has been providing the right help and support to colleagues – something that can be difficult when everyone is working from home.

Enel, Italy

Best in sector: utilities

The impact of Covid-19 on IROs was like an earthquake, says Monica Girardi, head of group IR at Enel. But earthquakes allow you to build back better: IR teams will learn a lot from their experiences during the pandemic. Throughout this period, Enel has tried to make itself more accessible, says Girardi, noting that the firm has conducted twice as many engagements this year as in 2019. Digital tools have helped to support activity, she adds, opening up new regions while saving time and travel costs.

Awards by nomination

Implenia, Switzerland

Best annual report (small cap)

With its 2019 annual report, Implenia decided to follow an online-first strategy, says Eva Heimrich, head of corporate communications at the Swiss construction company. Investors, analysts and other stakeholders are increasingly searching for information online, she says, while print is losing relevance. When creating the report, the main objective was to present the information in a well-structured and concise manner, while maintaining a positive user experience, adds Heimrich.

Repsol, Spain

Best ESG materiality reporting (large cap)

In December 2019 Repsol became the first major oil and gas company to announce a commitment to achieving net-zero emissions by 2050. Talking about 2050 is easy – the hard part is filling in the targets in between, explains Ramon Álvarez-Pedrosa, head of IR at the Spanish company. In this video, he discusses some of the communications methods Repsol employs to tell its ESG story, such as an annual sustainability day and an ESG engagement report.

Polymetal International, UK

Best ESG materiality reporting (small to mid-cap)

Covid-19 has led to an overhaul of how Polymetal International connects with the investment community, says Evgeny Monakhov, head of IR at the London-listed Russian miner. The IR team is now far more available outside of normal working hours and takes an ‘agile’ approach to prepping for engagements, he explains. Turning to ESG communications, Monakhov says investors appreciate the transparency, clarity and depth of disclosure offered by Polymetal: ‘These are the things they need in their work.’

Unilever, UK

Best investor event (large cap)

With all investor outreach moving online, Unilever has been able to up its level of engagement, says the company’s executive vice president of IR, Richard Williams. As an example, he recalls one day when the IR team met Australian investors in the morning and American investors in the afternoon. In this video, Williams also discusses Unilever’s popular investor day, which gives attendees the chance to meet a deep bench of management and see first-hand some of the company’s latest innovations.

Severn Trent Water, UK

Best investor event (small to mid-cap)

During lockdown, Severn Trent had to report its full-year results and conduct a worldwide roadshow, says Richard Eadie, head of IR and sustainability at the water utility. The virtual roadshow took in more locations than usual, including speaking with investors based on three continents in one day, he notes.

In this video, Eadie also chats about the company’s sustainability-led capital markets day, which took place in early 2020 prior to the onset of the pandemic. Severn Trent converted its office into a number of zones, each one discussing a different area of sustainability.

Alcon, Switzerland

Best IR during a corporate transaction

Alcon, the global eyecare company, was spun off from Novartis in April 2019. In this video, Karen King, Alcon's senior vice president and head of global IR & communications, explains the process of setting up a new IR function, gauging the feeling of the Street and executing the transaction.

In the same video, Christina Cheng, Alcon’s vice president and global head of IR, discusses how the new company developed an online presence to support its investment proposition.

NORMA Group, Germany

Best IR website (small cap)

In the spring of 2019, NORMA Group began a project to redesign its IR website, which hadn’t been updated for a couple of years, says Andreas Trösch, vice president of IR, communications and corporate responsibility at the German manufacturer. The design of the website was carefully co-ordinated with the creation of the company’s 2019 online annual report – NORMA wanted the website and report to be as integrated as possible, explains Trösch. The company also focused on creating a landing page that would offer investors and analysts everything they needed at a glance. ‘This is the first impression of a company,’ Trösch says.

Banco Santander, Spain

Best use of multimedia for IR

Banco Santander is making large digital investments across its business and that effort is also visible in the IR program, explains Sergio Gámez Martínez, global head of shareholder and investor relations. Last year, the bank launched a new fully responsive corporate website and an app for shareholders, he says. The digital changes have continued in 2020 with Santander putting on a fully virtual AGM, a decision prompted by the Covid-19 outbreak. The event attracted 160 percent more online attendees than last year, notes Gámez.

Grenergy Renovables, Spain

Rising star: Daniel Lozano Herrera

Grenergy Renovables was the only company to go public on Madrid’s main market when it held its IPO in December last year. The company expected to have an intense year of travel in 2020 to get its story out to investors and the sell side, but those plans were hit by the spread of Covid-19, explains Daniel Lozano Herrera, director of IR and communications at the company. On the positive side, the inability to travel has given the company more time to work on other areas, such as building out its investment story.

Remaining award winners

Awards by research

Best overall investor relations (large cap) – Allianz, Germany
Best investor relations officer (large cap) – Allianz, Germany, Oliver Schmidt
Consumer discretionary – adidas, Germany
Best in sector: energy – Galp Energia, Portugal
Best in sector: financials – Allianz, Germany
Best in sector: industrials – Deutsche Post DHL, Germany
Best in sector: materials – BASF, Germany
Best in sector: real estate – Vonovia, Germany
Best in sector: technology – ASML, Netherlands

Awards by nomination

Best annual report (large cap) – LeasePlan, Netherlands
Best annual report (mid-cap) – Admiral Group, UK
Best IR website (large cap) – Royal Philips, Netherlands
Best IR website (mid-cap) – HUGO BOSS, Germany