Austrian state of the art digital corporate transparency
In the 14th edition of the Webranking research, covered exclusively by Horizont, we found that Austrian companies fall in line with their European counterparts for their standards of transparency.
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 28 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.
On first impact, Austrian results seem to have taken a step back in corporate communication and transparency when comparing it to their performance last year. Last year the average score that Austrian companies achieved was 4.8 points higher than their current average of 46.9, which nevertheless remains slightly higher than the European average of 45.1 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.
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.
Although the average of the 28 largest Austrian companies included in the study has decreased, the rate of companies passing the test is consistent with previous edition, and the Austria pass rate remained at about 43%. Only three companies (BAWAG, Schoeller Belckmann, and Marinomed Biotech) 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.
Austrian companies continue to take small steps to demonstrate their corporate transparency and to stand out on the market. However, many companies present a substantial amount of information in PDF reports, which is no longer enough to pass the bar for transparency. Austrian companies should invest more in transmitting their strategic vision for the future, financially and in terms of sustainability, in an easily accessible way on their website.
Joakim Lundquist, CEO Lundquist
From rankings to ratings
Webranking’s end goal is not to present a ranking of the best and worst companies, but to encourage and a culture of transparency that alters companies’ rapport with their stakeholders. This is precisely why this year we decided to present the results in range of transparency rather a simple numeric ranking, by dividing the companies into classes of performance.
No Austrian company has been able to achieve the highest of reputations (5 stars), not did they reach the second tier (4 stars), but 12 companies made it into the three-star rating (between 50 and 70 points).
OMV Group is the top-ranking company in Austria this year with 65.9 points, narrowly surpassing Erste Group in second place with 65.2 points. Wienberger follows with 63.3 points. The remaining companies in the 3-star category are: Strabag, Agrana, Telekom Austria, Vienna Insurance Group, Palfinger, Voestalpine, Lenzing, Verbund, and Raiffeisen Bank International.
Only 4 companies out the 28 Austrian companies evaluated are part of the Europe 500: Erste Group, OMV Group, Voestalpine, and Verbund. 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.
Of the four Austrian companies that are included in the list, only two companies make it into the top 50. In fact, Austrian companies generally do not stand out in the European list, especially when compared to the Italian and Nordic companies that dominate the top 10 positions in the list.
However, when comparing the Austrian average to the European average, the difference is minimal, with the European average standing 1.8 points lower than that of the 28 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: