EXTEL Rankings of IR across the German market

Transcription

1 EXTEL 2014 Rankings of IR across the German market June 2014

2 CONTENTS 1 EXECUTIVE OVERVIEW & COMMENTARY 2 STUDY FINDINGS & DATA 3 STUDY PROCESS & METHODOLOGY 4 CONTACTS Page 2 of 17

3 1. EXECUTIVE OVERVIEW & COMMENTARY For the ninth year, since inception in 2006, Thomson Reuters Extel, in partnership with DIRK - Deutscher Investor Relations Verband (German Investor Relations Association) has carried out a comprehensive survey of IR excellence in Germany, gathering views from fund managers, buyside analysts and sellside analysts worldwide, who invest in or cover the German equity market. The results of the study form the basis of the Deutscher Investor Relations Preis (German IR Award) 2013, presented by WirtschaftsWoche during the DIRK annual conference in Frankfurt on June 17 th, Extel undertook this study in between March 24 and May 7, 2014; asking ratings and rankings from respondents for IR excellence, at a company level and separately for IR professionals. This was entirely as part of the overall Extel Pan- European survey, this ensuring the maximum participation and interest internationally. From the overall sector contributions, we derived distinct rankings for the main German equity indices constituents DAX30, MDAX, SDAX and TecDAX. The study was undertaken almost exclusively through direct online votes received at with approximately 10% of legitimate votes being received by soft copy forms sent to Extel directly, outside the web-based voting pages. The key findings from the study: Every year since Extel & DIRK first worked in partnership in 2006 responses have increased, and 2014 saw participation ahead of all prior years. The data and findings in this report represent the aggregated, weighted views of 702 individuals from over 273 buyside and sellside firms. 192 corporates and 365 IR professionals received qualifying nominations. Deutsche Telekom was the most highly regarded DAX30 company for IR, up from 3rd in The leading DAX30 IR professional was Oliver Schmidt of Allianz, who was ranked 3 rd in individuals received nominations. In the MDAX category, ProSiebenSat.1 Media moved up from 2 nd last year to 1 st. For the individual IR professional rankings in MDAX, Dirk Voigtländer of ProSiebenSat.1 Media completed the double, moving from 4 th last year to being ranked 1st. Over 105individuals received nominations. GfK Group kept hold of the crown, heading up the SDAX ranking of companies rising from 7th, with Ralf Dibbern of alstria office REIT moving up from 4 th in 2013 to claim 1st place in the individual IR professional table for SDAX companies. For TecDAX, AIXTRON came top, Page 3 of 17

4 maintaining their high levels of achievement in this ranking in the past few years. To underline this point, Guido Pickert of AIXTRON was the leading IR Professional in this category for the fourth year running. For the second time, as part of Extel &DIRK, we asked for buyside and sellside views on Debt IR. Allianz are the winners, up from 4 th in 2013 ranking. Respondents were requested to provide views on various aspects of investor relations, in terms of their relative importance, and what best practice is. As the table shows, overall service from the IR team and quality of roadshows come first, followed by quality of on-on-ones, quality of annual reports, quality of website, and the proactive involvement from CEO/CFO adding up to the key factors that investors and analysts place store by. In all our studies of IR worldwide, investors are looking to develop a partnership relation with companies, and fundamental in that is clear and open communications, so the key role this attribute continues to display is no surprise. The desire amongst investors for deeper understanding of companies continues to grow. More and more, investors expect IR teams to deliver that knowledge, in an unbiased, straightforward fashion, and with reference to sector peers. IR Criteria - Germany Overall service from IR team Improvement in IR in last year Quality of one-on-ones Quality of road-shows/visits Quality of annual reports/formal disclosure Quality of website/webcasting Proactivity of senior executives We also collected comments from respondents on the specific winning firms and individuals, and these are presented in the next section on Study Findings & Data. Please note the following when reviewing the tables of results - In company rankings, n/a denotes that either the company was not part of the index twelve months ago, or that the company was not nominated last year - For individual rankings, n/a denotes that either the individual in question was not associated with the relevant index a year ago, or that was not listed last year. -Any individuals listed who are no longer working specifically in IR have been left in the lists, if they received qualifying nominations, because we cannot know all cases were this would be applicable and in some cases individuals have only recently moved out of the IR function - Those board members nominated in the list of IR Professionals have been retained in the rankings, in all case where we understand they have a clear, primary IR role in their company. Page 2 of 17

5 2. STUDY FINDINGS & DATA DAX30 Ranking of Companies for IR Performance Pos PrevPos Corporate best for Investor Relations - Germany - DAX Deutsche Telekom AG 2 1 Allianz SE 3 2 Bayer AG 4 5 Continental AG 5 6 RWE 6 4 Munich Re 7 13 BASF SE 8 8 BMW Group 9 17 Linde AG 10 9 Fresenius Medical Care AG & Co. KGaA Henkel AG & Co. KGaA Fresenius SE 13 7 Siemens AG E.ON SE Volkswagen AG Deutsche Bank AG LANXESS AG Daimler AG ThyssenKrupp AG Beiersdorf AG Deutsche Telekom AG - Superb quarterly disclosure, balanced view of performance, very effective consensus gathering and publication, strong capital markets day, clear communication of message to the market. Bayer AG - Terrific service and great meet the management events.

6 DAX30 Ranking of IR Professionals Pos PrevPos IR Professional best for Investor Relations - Germany - DAX Oliver Schmidt, Allianz SE 2 1 Christian Becker-Hussong, Munich Re 3 4 Alexander Rosar, Bayer AG 4 2 Stephan Eger, Deutsche Telekom AG 5 7 Juergen Beunink, Bayer AG 6 27 Dominik Heger, Linde AG 7 29 Olaf Weber, Bayer AG 8 17 Christine Franziszi, Munich Re 9 15 Oliver Maier, Fresenius Medical Care AG & Co. KGaA Peter Hardy, Allianz SE 11 6 Christian Lamprecht, Allianz SE Magdalena Moll, BASF SE Leslie Iltgen, Fresenius SE 14 5 Rolf Woller, Continental AG Birgit Grund, Fresenius SE Marc Spieker, E.ON SE Oliver Stratmann, LANXESS AG Stephan Lowis, RWE Thorsten Dzuba, Munich Re Constantin Fest, Merck KGaA Oliver Schmidt, Allianz SE- Delivers very high level of service and has excellent industry and company knowledge. Page 2 of 17

7 MDAX Ranking of Companies for IR Performance Pos PrevPos Corporate best for Investor Relations - Germany - MDAX 1 2 ProSiebenSat.1 Media AG 2 3 Hugo Boss AG 3 8 Celesio AG 4 N/A LEG Immobilien 5 10 Symrise AG 6 6 Fraport AG 7 4 METRO Group 8 31 Deutsche EuroShop AG 9 5 MTU Aero Engines AG 10 9 GEA 11 7 Hannover Re Deutsche Wohnen AG Sky Deutschland AG Wacker Chemie AG Gerresheimer AG Axel Springer RHÖN-KLINIKUM AG Norma Group AG 19 N/A Evonik Industries AG HOCHTIEF AG ProSiebenSat.1 Media AG - Information to the point, accurate and helpful. Hugo Boss AG Great insights and availability. Page 3 of 17

8 MDAX Ranking of IR Professionals Pos. PrevPos IR Professional best for Investor Relations - Germany - MDAX 1 4 Dirk Voigtländer, ProSiebenSat.1 Media AG 2 13 Markus Georgi, Celesio AG 3 2 Dennis Weber, Hugo Boss AG 4 N/A Burkhard Sawazki, LEG Immobilien 5 15 Tobias Erfurth, Symrise AG 6 41 Roger Schneider, Sky Deutschland AG 7 3 Karl Steinle, Hannover Re 8 17 Anke Linnartz, Gerresheimer AG 9 11 Julia Zielcke, ProSiebenSat.1 Media AG Helge Hehl, Deutsche Wohnen AG Christine Scheil, Sky Deutschland AG 12 9 Ralf Gierig, ProSiebenSat.1 Media AG Patrick Kiss, Deutsche EuroShop AG Stephanie Malgara, ProSiebenSat.1 Media AG Florian Fuchs, Fraport AG Oliver Luckenbach, METRO Group Nicolas Lissner, Deutsche EuroShop AG Claudia Thomé, Axel Springer 19 8 Vanessa Garrecht, Hugo Boss AG Kai Klinger, RHÖN-KLINIKUM AG Dirk Voigtländer, ProSiebenSat.1 Media AG - Excellent IR work done by Dirk. Very informative and helpful. Markus Georgi, Celesio - Mr. Georgi has deep business insights and is the most experienced and best discussion partner at Celesio for investors/analysts. His comments have always been helpful to better understand business dynamics and recent events. Page 4 of 17

9 SDAX Ranking of Companies for IR Performance Pos PrevPos Corporate best for Investor Relations - Germany - SDAX 1 7 GfK Group 2 4 alstria office REIT-AG 3 2 TOM TAILOR Holding AG 4 9 Heidelberger Druckmaschinen AG 5 18 Bertrandt AG 6 N/A Deutsche Annington Immobilien SE 7 14 Jungheinrich AG 8 8 Air Berlin plc 9 N/A PUMA AG Rudolf Dassler Sport Ströer Media AG Grammer AG TAKKT AG Biotest AG 14 N/A BayWa AG 15 N/A HHLA comdirect Deutz KWS SAAT AG 19 N/A Kion Group AG 20 5 DIC Asset AG GfK Group - Very high level of service. Excellent industry and company knowledge. Page 5 of 17

10 SDAX Ranking of IR Professionals Pos PrevPos IR Professional best for Investor Relations - Germany - SDAX 1 4 Ralf Dibbern, alstria office REIT-AG 2 11 Bernhard Wolf, GfK Group 3 3 Felix Zander, TOM TAILOR Holding AG 4 N/A Lisa Ernst, GfK Group 5 21 Andrea Bleesen, Jungheinrich AG 5 N/A Markus Götzl, Bertrandt AG 7 16 Ralf Hoppe, Grammer AG 8 31 Alexander Poeschl, Grammer AG 9 46 Jörg Pütz, Deutz 10 7 Ingolf Hegner, Air Berlin plc Monika Buttkereit, Biotest AG 12 N/A Thomas Eisenlohr, Deutsche Annington Immobilien SE 13 N/A Sabrina Rafalski, Air Berlin plc Stefanie Westermann, Air Berlin plc Immo von Homeyer, DIC Asset AG 16 N/A Susanne Umland, HHLA 17 N/A Ute Neumann, HHLA 18 N/A Verena Schopp de Alvarenga, PATRIZIA Immobilien AG 19 N/A Josko Radeljic, BayWa AG Philipp Gebhardt, Wacker Neuson SE Ralf Dibbern, alstria office REIT-AG Deep insight into market segment. Ralf understands how the sellside works and what it needs. Page 6 of 17

11 TecDAX Ranking of Companies for IR Performance Pos PrevPos Corporate best for Investor Relations - Germany - TecDAX 1 1 AIXTRON SE 2 3 Dialog Semiconductor 3 4 Software AG 4 6 QIAGEN 5 2 Telefonica Deutschland 6 11 XING AG 7 9 MorphoSys AG 8 12 United Internet AG 9 19 Pfeiffer Vacuum Technology AG 10 5 Drägerwerk AG & Co KGaA 11 7 freenet Group Bechtle AG 12 8 STRATEC Biomedical AG Kontron AG Drillisch Telecom Carl Zeiss Meditec AG 17 N/A Nemetschek AG Wirecard AG QSC AG Sartorius AG AIXTRON SE Good team, with a strong grasp of how IR functions, and what the market wants. Dialog Semiconductor plc - Huge improvement since Jose Cano joined. Page 7 of 17

12 TecDAX Ranking of IR Professionals Pos PrevPos IR Professional best for Investor Relations - Germany - TecDAX 1 1 Guido Pickert, AIXTRON SE 2 6 John Gilardi, QIAGEN 3 4 Otmar Winzig, Software AG 4 15 Robert Adolph, Software AG 5 2 Victor García-Aranda, Telefonica Deutschland 6 8 Stephan Gramkow, United Internet AG 7 10 Claudia Gutjahr-Löser, MorphoSys AG 8 3 Thomas Fischler, Drägerwerk AG & Co KGaA 9 N/A Marion Polzer, Telefonica Deutschland 10 N/A Angela Schmidt, QIAGEN Birgit Hummel, Dialog Semiconductor 12 5 Ingo Arnold, freenet Group 13 N/A Eerik Budarz, Pfeiffer Vacuum Technology AG Kai Holtmann, freenet Group Martin Link, Bechtle AG 16 9 Andreas Künzel, STRATEC Biomedical AG Dominic Grossmann, United Internet AG Henriette Meyer, Carl Zeiss Meditec AG 18 N/A Mandy Pfeil, Carl Zeiss Meditec AG Oliver Keil, Drillisch Telecom Guido Pickert, AIXTRON SE One of the best IR professionals. Very knowledgeable and accessible. Debt IR Ranking of Companies for IR Performance - Germany Pos PrevPos Corporate best for Debt Investor Relations - Germany 1 4 Allianz SE 2 N/A RWE 3 N/A METRO Group 4 N/A MTU Aero Engines AG 5 6 Commerzbank AG Page 8 of 17

13 MARKET TRENDS (Selected data) COUNTRY: GERMANY; REGION: PAN-EUROPE Page 9 of 17

14 Page 10 of 17

15 3. STUDY PROCESS & METHODOLOGY TIMINGS The Survey was run between March 24, 2014 and May, 07, Buyside, Sellside and IR results for Europe were announced at the Thomson Reuters Awards Ceremony on June 17, 2014, and IR results for Germany were presented at 17. DIRK Conference on June 17, METHODOLOGY Voting process: Corporates and IR rankings/ratings are based on votes from buyside and sellside firms. Weighting process: All votes from the buyside and the sellside are weighted. Buyside European Equity Assets Under Management (AUM) Sellside Firm s ranking in the relevant categories in the 2013 Thomson Reuters Extel Pan-European Survey IR NOMINATIONS As we consolidate multiple individual votes from people at the same firm, these numbers do not represent individual votes, but rather the proper, and representative, calculation of firm votes from the individuals at the same voting institution. While this has the effect of reducing the numbers displayed of votes received (e.g. votes from 5 individuals are combined to form a single vote from one firm), it significantly enhances the quality and rigour of the data. In compiling the rankings for firms and IR professionals, we ask both buyside and sellside to provide nominations 1-5 on an overall assessment of quality of service, industry knowledge, technical stocks and quality of interaction. We do not specify attributes individually as firstly the importance of these may vary from company to company, and secondly it would inhibit and reduce response levels. Page 11 of 17

16 4. CONTACTS Extel Steve Kelly Global Head of Extel Tel: +44 (0) DIRK Deutscher Investor Relations Verband e.v. Katharina Ariane Beyersdorfer Tel: +49 (0) Page 2 of 17

17 About DIRK DIRK Deutscher Investor Relations Verband e.v. is the association for Investor Relations in Germany. As the organ of IR professionals, DIRK represents the concerns of its members in an active dialogue with interest groups and capital market stakeholders, political institutions and the public. The association offers its members active, specific support and promotes regular exchange among one another and with IR specialists from all over the world. In addition, DIRK sets standards in professional training and further education of IR juniors in Germany. With its more than 290 members, DIRK sets the standards of communication between companies and the capital market. The spectrum of companies organised within DIRK includes all Dax companies and the bulk of companies listed in the MDax, SDax and TecDax as well as small companies and those which have not yet made their IPO or issue debt instruments. About Extel Extel carries out annual IR studies for the Pan- European and Asian markets. Additionally, Extel undertakes a wide range of bespoke perception and market analysis studies on behalf of clients corporates, investment institutions, exchanges and government bodies around the world. The complete data and knowledge gained delivers a unique perspective on IR best practice and the key industry trends. For more information, go to