STOCKHOLM, Sweden, Nov. 12, 2002 (PRIMEZONE) --Stockholmsborsen today announced that the jury in the "Best Financial Reporting in 2001" competition has awarded first prize to JM AB in the large company category and Karlshamns AB (Stockholm:KAB) in the small company category. The aim of this annual competition -- arranged by Stockholmsborsen -- is to encourage companies to improve and develop their market information.
Four distinctions were awarded in the "large company" class for 2001. These went to Sandvik AB, SSAB Svenskt Stal AB, Fastighets AB Tornet and AB Volvo. The winner was JM AB. In the "small company" category, distinctions were awarded to Hexagon AB, NIBE Industrier AB, ProfilGruppen AB, SkiStar AB and Lennart Wallenstam Byggnads AB. First place went to Karlshamns AB.
The "Best Financial Reporting in 2001" award is part of Stockholmsborsen's high-priority work to encourage listed companies to improve their information to investors and the rest of the market. The contest, which covers all listed companies, has played a role in the significant improvement of the annual reports produced by the companies over the years and we thank the jury for their excellent work, said Kerstin Hessius at Finforum's "About Corporate Information" seminar on Tuesday, November 12.
Using a comprehensive approach, the jury's task is to identify the external financial reporting that best meets the demands of shareholders and other readers. The jury focuses primarily on external financial information, such as annual and interim reports.
As in the past, JM presented a top-class annual report by Swedish standards. Despite being extensive and detailed, JM's annual report is easy to read, thanks to its tables and diagrams. It contains a good introductory summary, a well-structured CEO statement and an excellent description of strategy, operational targets and target fulfillment. It also provides a clear picture of JM's markets, opportunities and risks, as well as a basis for making a sensitivity analysis.
Karlshamns AB has previous year been awarded in the "small companies" class. As in past years, its annual report offers easy reading and contains solid and very detailed descriptions of business-area targets, markets, competitors and earnings trends. It also includes informative accounts of R&D programs and the company's environmental impact, along with a description of its risk management and a sensitivity analysis.
The jury consisted of Clas Reuterskiold, Chairman, Sigvard Heurlin, Rolf Rundfelt, Bjorn Grundvall and Anders Haskel. The co-opted experts were Bengt Hane and Peter Malmqvist. The competition - held for the 37th time this year - includes information from all listed companies, as well as other companies and state agencies who voluntarily submit their financial reports. The dividing line between the "large" and "small" company classes consisted of a market capitalization of SEK 2 billion (or reported equity in the case of non-listed companies) on December 31, 2001.
For further information
Johan Allstrin, Information Surveillance, Tel +46 (0)70 554 52 85
Stockholmsborsen
Maria Andark, VP Corporate Communications, Tel +46 (0)70 597 52 76
To order the "Best Financial Reporting" brochure, call +46 (0) 8 405 70 21. Among other information, the brochure includes comments on the winner and a list of the companies awarded distinctions.
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The following files are available for download:
http://www.waymaker.net/bitonline/2002/11/12/20021112BIT00420/wkr0001.doc
http://www.waymaker.net/bitonline/2002/11/12/20021112BIT00420/wkr0002.pdf