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24 January 2024

Finnish corporate websites continue to outperform European peers

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In the latest Webranking results, Finnish companies have demonstrated remarkable performance, particularly in Investor Relations and Corporate Governance. Careers information is, however, still slightly behind the European average. Challenges include presenting information about work-life balance and flexible working.

Freja NilssonProject manager, Webranking

The average score for Finnish companies stands at a strong 59.52 points, substantially higher than the European average of 47 points. This 12.5-point lead underscores the Finnish companies' commitment to maintaining high standards in digital corporate communication and transparency.

Finland also continues to be the best-performing country of all included countries. Italy comes second when looking at the average score of 55.9 points, four points behind Finland.

When summarising the Finnish results, we notice the following:

  • Investor Relations: Finnish companies excel in Investor Relations, fulfilling 56% of the criteria, almost double the European average of 29%. Many companies present their outlooks and risk management policies.
  • Governance: Governance information is still strong, with a 71% average fulfilment versus 48% in Europe. 72% of Finnish companies comply with insider management policy disclosures against the 18% European average.
  • Careers: Finnish companies slightly lag in career information, fulfilling 49% of the criteria versus the European average of 51%. Only 24% of Finnish companies detail working from home policies, less than the 32% European average. Just 28% provide work-life balance information.

Investor Relations still at an impressive level

A key area of success for Finnish companies continues to be presenting Investor Relations information. On average, they have fulfilled 56% of the Webranking criteria in this category, almost double the European average of 29%. This proficiency in Investor Relations is a testament to their dedication to maintaining clear and comprehensive communication with investors on their corporate websites.

Clear forward-looking statements are presented

Finnish firms excel in offering insights into market and financial outlooks. Notably, 50% of these companies provide information about market outlook, and 58% present financial outlook. These figures are significantly higher than the 15% of European companies meeting these criteria, highlighting the Finnish commitment to forward-looking transparency.

Comprehensive market and financial outlooks can make a company more attractive to potential investors and retain current ones by demonstrating a thorough understanding of market dynamics and financial prospects. Investors use this information as part of their decision-making. Understanding the company's future plans and expectations allows them to make better judgments about the potential risks and rewards of their investments, and presenting this information directly on the website makes this process easier for them.

Outokumpu offer a detailed description of their predictions of the market conditions and operating environment, including trends and competition.

Transparent risk management information

Another area where Finnish companies outshine their European peers is in presenting risk management information. A robust 74% of Finnish companies disclose their risk management policy, compared to a 40% average across Europe. This focus on risk management transparency is essential for stakeholders seeking to understand the company's approach to navigating potential challenges.

Sanoma present both detailed information about the risk management and internal control system and the specific risks and uncertainties applicable to their business.

Continued excellence in governance information

The governance information presented by Finnish companies also sets a high standard, with an average fulfilment of 71%, compared to the European average of 48%. This includes the presentation of insider management policies, where 72% of Finnish companies comply, significantly higher than the 18% European average. However, when it comes to presenting the latest insider transactions, Finnish companies, at 42%, are still ahead but closer to the 17% European average.

Disclosure of insider transactions enhances transparency, which is fundamental in building and maintaining trust among shareholders, investors, and the general public. When a company openly shares such information, it demonstrates its commitment to honesty and ethical practices.

Kemira present a well-structured page where both the general insider management policy is presented, together with a table showcasing the insider transactions during the past 12 months.

Careers information is still slightly behind the European average

While Finnish companies generally perform well in Webranking criteria, they fall slightly behind in the area of career information. On average, Finnish companies have fulfilled 49% of the criteria in this domain, marginally below the 51% average of European companies.

An area of concern is the presentation of information on flexible working arrangements. Currently, only 24% of Finnish companies provide details about working from home, which falls short of the European average of 32%. Furthermore, when disclosing work-life balance information, just 28% of Finnish companies include this on their websites.

The lack of detailed information on employee-centric policies, including flexible working and work-life balance, could have broader consequences. In the current competitive job market, where potential employees place significant importance on these benefits, insufficient communication in these areas may affect the perception of Finnish companies as desirable employers.

Fortum present both information about how they support the well-being of their employees on an overall level, complemented by more detailed information about their hybrid working model. This helps set clear expectations for potential job seekers and positions Fortum as a modern employer.

Top performers

Wärtsilä take the lead as the Finnish top performer this year, climbing up from fourth place. They have improved their score by 8.5 points and perform well in Governance, About us and Investor Relations.

At Wärtsilä, we take pride in effective communication with all our key stakeholders. We are delighted to have our hard work acknowledged through the recognition of our website as a leader in industry standards.

Johan Bäckman, Manager, External Online Channels, Wärtsilä Corporation

Fortum keep second place and have also improved their score significantly (by 8 points). Fortum's consistent performance shows excellence in Governance, Careers and Investor Relations information.

Valmet, which previously held the top spot, have now moved down to third place. Despite an improvement in their overall score since last year, Valmet's progress was outpaced by the more significant advancements made by Wärtsilä and Fortum. Nevertheless, Valmet continue to demonstrate robust performance in several key areas such as Investor Relations, The Share, and Governance.

Terveystalo the best climber

This year's best Finnish climber are Terveystalo, meaning that they are the Finnish company that have improved their score the most since last year. The score has improved by 16.7 points, from 40.3 to 57. Their strongest performing areas are Sustainability and Investor Relations.

Top 10 - Finland

1WärtsiläIndustrial Goods and Services83.3
3ValmetIndustrial Goods and Services80.1
4KeskoPersonal Care, Drug and Grocery Stores78.2
6Nokian TyresAutomobiles and Parts71.3
7OutokumpuBasic Resources70.5
8SSABBasic Resources69.2
9Stora EnsoBasic Resources67.9
10CargotecIndustrial Goods and Services66.8


  • Freja Nilsson, Project manager Webranking