By Helena Wennergren
The 20th edition of Webranking by Comprend found that Norwegian listed companies have raised their web presence by increasing the average score with 3.5 points compared to last year. However, the overall average score of 40.8 out of 100 shows that corporate websites of Norwegian companies need to improve to better meet the needs of important stakeholders. Orkla's website is an exception and is ranked as number 1 in Norway.
Webranking by Comprend 2016-2017 evaluated 20 Norwegian companies – whereof nine were included in the list of 500 largest European companies – on how well they meet the information needs of digital audiences such as investors, analysts, business journalists and jobseekers.
The increased overall average score has been achieved by including more transparent information on corporate governance, comprehensive company introductions, improved press material and information about the share. However, despite the raise Norwegian corporate websites still score slightly lower than the average of 500 largest companies in Europe (42.7).
See all Norwegian results
Investor relations: still lagging behind
Just like last year, Norwegian companies still underperform in providing investor-related information which is highly demanded by capital market stakeholders averaging a modest 25% of total score. There is scarce information about financial targets and achievements (11%) as well as on investments and divestments (13%). Although most of the companies present an overall business goals or strategy only three explain what concrete actions they will take to deliver on their strategy. The ranking also uncovered that only two of the 20 companies have an investment story which creates a risk of failing to attract prospective investors.
Orkla is the only company with an IR-section that best meets the stakeholders' needs.
Share information: the strongest area
The strongest area on Norweigain corporate websites is the share information with an average fulfilment level of 55% of the total score. However, missing almost half of points they could still improve to meet the needs of capital market stakeholders. For instance, none of the 20 companies present updated information on share capital development such as splits and new issues – an item marked as important by 80% of capital market respondents.
Yara International has the highest performing share section amongst all Norwegian companies.
Governance: most improved section
When comparing this year's fulfilment level with the one from last year, Norwegian companies have best improved their corporate governance information. The increased average score from 42% last year to 50% in this year's Webranking edition is a result of offering more transparent information on corporate direction and control. For instance, information about annual general meeting, executives and group management remuneration, insider trading and governance reports are offered at a higher fulfilment level.
Although, with a long way to go in order to compete with the Finnish companies when it comes to transparency, averaging 80% of total score, Norwegian companies have some bright spots. To start with, there is a greater provision of material offered from the latest shareholder meeting. A notice including agenda as well as the complete minutes could be found on 85%, respectively 90% of the Norwegian corporate websites. Norway also shows a slight improvement in offering information about share transactions by insiders which 85% of capital market stakeholder find important.
The company which performed best in this section and is closest to a full score is Orkla.
CSR and Career: not enough cared about
It is not unique to Norway, but to neglect CSR and career information seems to apply to all countries included in Webranking.
This year's ranking shows that corporate websites of Norwegian companies average a low 24% of the total score for their CSR content. This is at odds with stakeholder’s demand of an increased amount of transparent and measurable CSR information. The topic most requested by stakeholders are transparency about tax policy and detailed information on payments in different markets – content that only 2 out of 20 Norwegian companies gain scores for.
The company that performed best in the CSR section is Orkla.
When it comes to providing career information the performance has not increased much since last year and is still below the European average with a score of 38%. Averaging 28% of total score, Norwegian companies miss opportunities to attract relevant job applicants. According to Comprend Career Survey, 98% of jobseekers look for information about what it is like to work at a company. Yet, only two out of 20 companies receive score for presenting the work environment. Norway also falls short on providing employee testimonials (11%), HR contacts (14%) and policies for compensation and benefits (23%).
The companies that perform best in the Career section are Statoil closely followed by Orkla.
Features and functionalities: more responsive websites
Browsing the web through mobile devices could be seen as the new standard. With that comes the need of offering responsive websites which 70% of Norwegian companies do this year compared to only 55% of them last year. When we asked the capital market stakeholders they said that the single most important feature of a corporate website is a satisfactory page loading speed. Most of the Norwegian websites have a rather high speed on desktops (50%) but much fewer on mobile devices (25%).
SalMar is the only company with the most user-friendly website in terms of responsiveness and page loading speeds.
Webranking by Comprend 2016-2017 – Norway
Last year's three top performing companies in Norway remain on the podium this year. Orkla remains in the first place receiving a total score of 71.7 points, which is 12.9 points more than the runner-up Telenor (58.8). Orkla is also the best performer in the sections of IR, Governance and CSR.
“We are very pleased that we have retained our top ranking. This strong result is recognition of the systematic efforts that have been made over time to continuously improve and maintain Orkla’s website,” says Orkla web editor Julie Lochner.
Statoil takes the third place with a total score of 58.0 points. SalMar is this year's climber in Norway increasing its score by 10.7 points.
|Rank|| ||Company|| ||Score|
|1|| ||Orkla|| ||71.7|
|2|| ||Telenor|| ||58.8|
|3|| ||Statoil|| ||58.0|
|4|| ||Yara International|| ||54.2|
|5|| ||Norsk Hydro|| ||53.4|
|6|| ||Gjensidige Forsikring|| ||48.5|
|7|| ||Schibsted|| ||47.8|
|8|| ||Kongsberg Gruppen|| ||43.5|
|9|| ||DnB NOR|| ||42.7|
|10|| ||Bakkafrost|| ||38.1|
See all Norwegian results
For further information please contact Helena Wennergren, Head of Research at +46 70 971 12 10 or firstname.lastname@example.org.
Learn more about webranking
Webranking is Europe's leading survey of corporate websites and the only global ranking that is based on stakeholder demands. By identifying what the corporate audiences expect, we can help companies identify how to improve their corporate website content to better meet stakeholder needs.