Novo Nordisk takes home two reporting awards
- September 2004
Novo Nordisk has won two Danish awards for its reporting in 2003: 'Best non-financial report' and 'Best annual report among companies listed on the Copenhagen Stock Exchange and state-owned companies'.
The Danish State-Chartered Accountants, FSR, and the business newspaper Børsen, presented the awards at a ceremony on Tuesday. Altogether, nine awards were given, and Novo Nordisk was the only company to win an award in both categories.
In her acceptance speech, Lise Kingo, Executive Vice President for People, Reputation and Relations, announced that as of this year, Novo Nordisk will issue one annual report that includes information previously presented in the company's Sustainability Report.
"Innovation is about much more than mere format. We seek to better understand the interaction between our company's financial and non-financial performance, exploit opportunities, and reduce risks. And we will continue to be sensitive to the expectations raised by juries such as yours and by our stakeholders," she said.
Taking the lead
The jury highlighted the fact that Novo Nordisk takes the lead - at times far ahead of others - in presenting both financial and non-financial information relevant to its business.
The jury explained its vote for Novo Nordisk's Annual Financial Report this way: "A short and well structured annual report at a very high level ...in which Novo Nordisk as one of few companies accounts for the company's long-term financial targets and provides a thorough description of expectations for the future."
Jesper Brandgaard, chief financial officer, was also pleased by the jury's praise of the financial report's transition to IFRS one year early. IFRS is a new international accounting standard that takes effect 1 January 2005.
The awards - which were previously given at two separate events - have now been brought together under one umbrella - The Annual Reporting Award 2004 - to reflect the increasing convergence of financial and non-financial reporting.
