ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 2008

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1 ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 28 INTRODUCTION TO COUNTRY FILES Employee ownership is progressing faster and stronger across Europe than anyone could expect. This is a quick and recent new development in most European countries. However, some countries began earlier while others dawdled on the way (see Graph 1). The new Annual Survey for year 28 shows that employee ownership declined a bit on the threshold of the financial crisis, from to 24.2 billion Euro (-15.2). However, this was still much more than the 26.2 billion one year before. As a percentage, employees' share stabilized on 2.63 in the capital ownership structure. Considering recent trends, employee ownership is going to double within the next 5-1 years, from 9.1 million employee owners now to 16 millions, from 28.2 of all employees in large European companies now to 4-5, and capitalisation held by employees going to raise from 2.63 now to 4-5. This is the main conclusion of the economic survey of employee ownership in the European countries in year 28. This survey is based on information about each of all large European companies which also means a similar information for each of all European countries. Furthermore, it is based on information given by companies themselves in Annual Reports which means a quick information and a high quality. The full version of this Annual Survey is available at the European Federation of Employee Share Ownership. FINLAND (FI) Compared to other European countries, employee ownership is recent in Finland and is still reserved to high and middle management much more than all-employees. However, the Finnish dynamics are high and employee ownership is growing and enlarging. Considering the global percentage of capital held by employees in large companies, Finland still seems quite low with 1.9 compared to 2.63 in Europe and 4.52 in France (Graph 2). Yet Finland is at the top for large companies having some employee share ownership; it is so for 1 of Finnish large companies, the same level as the 99 in UK and 1 in Ireland (Graph 3). However, only 37 of large Finnish companies have "broad-based" employee share plans (allemployee plans) - compared to 51.9 in Europe and 86 in France (Graph 4). This may well change. As a matter of fact the dynamics is high: 48 of large Finnish companies launched new employee share plans in 27/8 much more than the 36.6 in Europe and not far from the 53 in Belgium or 52 in Denmark (Graph 5). When they exist, employee share plans appear also to be quite recent compared to many other European countries. Large Finnish companies launched their first employee share plan in 2, compared to 1998 in Europe and 1995 in Ireland (Graph 6). Finland looks also very high regarding stock options: 81 of Finnish large companies have stock option plans which positions Finland as number 4 after the Netherlands (81) and the 94 in the UK and 97 in Ireland (Graph 7). Finally, the proportion of employee owners amongst all employees is increasing, not far from the average, with 25 in large Finnish companies compared to 28.2 in Europe and 46 in France (Graph 8). Furthermore, many large Finnish companies have "significant" employee ownership: It is 58 in Finland compared to 53.9 in Europe (Graph 9).

2 Graph 1

3 , CAPITAL HELD BY EMPLOYEES IN EUROPEAN COMPANIES in 27/8 (29 European countries largest European groups companies million employees) CY SL 5, FR 4, 3, 2,63 GR UK EU IT PL IE CH AT ES BE 2, NM NO DE SV HU NL FI 1, SK LU DA PT, RO LV MT BG LT EE CZ RO LV MT BG LT EE CZ SK LU DA PT NM NO DE SV HU NL FI ES BE GR UK EU IT PL IE CH AT FR CY SL

4 ,1 EUROPEAN GROUPS HAVING EMPLOYEE OWNERSHIP in 27/8 (29 European countries largest European groups companies million employees) BE DE PT CZ IT ES EU NO HU DA CH SL FR NL SV UK FI IE 7 6 LT MT GR AT NM CY 5 4 LV PL EE SK LU RO BG RO BG LV PL EE SK LU LT GR MT AT NM CY BE DE PT CZ IT ES EU NO HU DA CH SL FR NL SV UK FI IE

5 EUROPEAN GROUPS HAVING BROAD-BASED EMPLOYEE SHARE PLANS in 27/8 (29 European countries largest European groups companies million employees) 9 FR 8 CZ UK ,9 IT BE LV DE NL ES FI AT MT SK CH SV NM NO CY EU SL IE DA HU 2 1 PT BG GR PL EE LT LU RO EE LT LU RO PL BG GR PT IT BE LV DE NL ES FI AT MT SK CH SV NM NO CY EU SL IE DA HU CZ UK FR

6 EUROPEAN GROUPS HAVING LAUNCHED NEW EMPLOYEE SHARE PLANS in 27/8 (29 European countries largest European groups companies million employees) 5 SV FI FR UK NL DA BE 4 36,6 EU NO IE 3 CH DE 2 EE PT CY IT AT MT PL GR 1 LU CZ NM HU SL ES BG LT LV RO SK LV RO SK LU CZ NM HU SL ES BG LT EE PT CY IT AT MT PL GR CH DE EU NO IE SV FI FR UK NL DA BE

7 Number of years 14 WHEN DID THEY LAUNCH THEIR FIRST EMPLOYEE SHARE PLAN? (listed groups having employee share plans) (29 European countries largest European groups having employee share plans million employees) IE SL UK FR NL BE EU MT HU DE CH NM SV CY FI PT NO DA CZ AT LV IT ES LU GR PL RO BG EE LT SK

8 EUROPEAN GROUPS HAVING STOCK OPTION PLANS in 27/8 (29 European countries largest European groups companies million employees) UK IE 9 8 SV BE FI NL DA 7 64,6 DE NO CH FR EU CY 6 5 LU IT 4 PL PT AT GR MT 3 ES HU 2 1 SL CZ RO EE NM BG LT LV SK BG LT LV SK SL CZ RO EE NM ES HU PL PT AT GR MT LU IT DE NO CH FR EU CY DA SV BE FI NL UK IE

9 EMPLOYEE OWNERS AMONGST ALL EMPLOYEES in 27/8 (29 European countries largest European groups companies millions employees) 45 FR 4 35 UK 3 28,2 EU CY 25 IE FI CH SV 2 NL NO BE DA DE AT 15 1 PT LV SK NM PL HU CZ IT SL MT ES GR 5 BG EE LT RO LU BG EE LT RO LU PT LV SK NM PL HU CZ IT SL MT ES GR NL NO BE DA DE AT IE FI CH SV EU CY UK FR

10 European Federation of Employee Ownership EUROPEAN GROUPS HAVING "SIGNIFICANT" EMPLOYEE OWNERSHIP (EO>1) in 27/8 (29 European countries largest European groups companies million employees) IE UK FR CZ CY HU 6 53,9 IT EU SL FI 5 4 DE PT BE DA SK SV AT CH ES NM NL NO 3 LU PL EE GR 2 1 LT BG LV MT RO BG LV MT RO LT LU PL EE GR DE PT BE DA SK SV AT CH ES NM NL NO IT EU SL FI HU IE UK FR CZ CY

11 European Federation of Employee Share Owneship CAPITAL HELD BY EMPLOYEES: EXECUTIVES' AND NON-EXECUTIVES' SHARES in 27/8 (29 European countries largest European groups companies million employees) 9 8 TOP EXECUTIVES NON-EXECUTIVES EE LT RO LU BG GR IT NO PL CZ ES PT IE UK SV DE EU HU NL AT CH BE DA FR NM CY FI MT SL LV SK

ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 2008

ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 2008 www.efesonline.org 25.2.29 ANNUAL ECONOMIC SURVEY OF EMPLOYEE OWNERSHIP IN EUROPEAN COUNTRIES IN 28 INTRODUCTION TO COUNTRY FILES Employee ownership is progressing faster and stronger across Europe than

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