Austrian companies, like their European counterparts, see their results drop as stakeholder demands rise and Covid-19 puts companies to the test
In the 15th edition of the Webranking research, we found that Austrian companies’ transparency results have drastically decreased.
The Austrian edition of Webranking research is conducted by Lundquist in collaboration with Comprend. To read how the individual companies compare, download the whitepaper below. It evaluates the 21 largest listed companies in Austria, analysing what these companies communicate on their corporate websites and how they are working to satisfy the needs of their stakeholders and inspire trust.
At first impact, Austrian results seem to have taken a step back in corporate communication and transparency compared their performance last year. Last year the average score that Austrian companies achieved was 5.2 points higher than their current average of 41.7, which for this year is slightly lower than the European average of 43 points. The reality is that Webranking raises the bar for transparency in line with stakeholder demands, and companies need to do more to meet these expectations.
Focus on COVID-19 reveals poor performance amongst Austrian companies
The global context in the face of Covid-19 has challenged companies to adapt and step up the way in which they communicate with their stakeholders. Companies’ ability to communicate on the impact of the crisis on the business, the predicted consequences on the future of the company, as well as what actions were put in place to face the challenges brought about by Covid-19 were examined in thorough detail.
Austrian companies performed relatively poorly in comparison to their European counterparts, with less than a quarter of Austrian companies disclosing information regarding the effects Covid had on the business, compared to 60% of the Europe 500 companies.
The pandemic has highlighted the importance of being credible in a moment of crisis. This requires responsibility and a commitment to provide complete and transparent information for all stakeholders, in order to create and maintain trust.
Joakim Lundquist, CEO Lundquist
Keeping up with stakeholder expectations
Webranking is firmly based in the needs of the stakeholder – uncovered through a careful evaluation of annual surveys completed by investors, job seekers, and journalists – and for this reason it can be considered a transparency stress test. A score of 50 out of a maximum of 100 is considered to be the threshold at which a company has met adequate communication standards.
While the average of the 21 largest Austrian companies included in the study has decreased, along with their European counterparts, the rate of companies passing the stress test has plummeted compared to last year, as the Austria pass rate decreased from 43% to about 24%. Only three companies (BAWAG Group, Do & Co, and Schoeller Belckmann) failed the stress test, scoring below 30 points.
On a positive note, Austrian companies have improved their governance communications. In particular, there has been an improvement in areas such as CEO visibility, remuneration, and the presentation of information regarding the Annual General Meeting. This section stands out especially because many other areas decreased in the average Austrian score.
No companies have managed to reach the 5 star ratings
No Austrian company has been able to achieve the highest of reputations (5 stars), nor did they reach the second tier (4 stars), but 5 companies made it into the three-star rating (between 50 and 70 points).
Wienberger is the top-ranking company in Austria this year with 60.4 points, Erste Group remains in second place this year with 59.8 points. OMV Group follows with 57.3 points. The remaining companies in the 3-star category are Vienne Insurance Group and Voestalpine.
Only 2 companies out the 21 Austrian companies evaluated are part of the Europe 500: Erste Group and OMV Group. This is because the ranking includes the 500 largest European companies by market cap, and many Austrian companies are not large enough to enter this list.
Erste Group made it into the top 50, while OMV Group gained 65th place. When comparing the Austrian average to the Europe500 average, the scores are quite similar, with European average slightly outperforming the Austrian companies.
How Webranking can help you to improve
The Webranking analysis allows you to define solutions to improve your digital presence, understand digital trends, compare to peers, generate internal engagement, and identify pathways for future improvement.
For further information about the research, to receive the highlights with the score per areas and to order a tailored, interactive report, please contact:
Caroline Becker, email@example.com