Switzerland’s Mobimo wins ‘Most improved’ award in EPRA/Deloitte Annual Report Survey
6 September 2012
Mobimo, the Swiss real estate company, has been presented with the award for ‘Most Improved Annual Report’, by EPRA, following a survey of annual reports of the 85 members of the FTSE/EPRA Developed Europe Index carried out by Deloitte. The companies were measured against EPRA’s Best Practices Recommendations (BPR). Mobimo was among 15 European listed property firms receiving the highest Gold position in the EPRA/Deloitte Annual Report Survey Awards presented at the industry body’s annual conference in Berlin on Thursday.
The EPRA/Deloitte survey focuses on EPRA’s Performance Measures which are at the heart of EPRA’s drive to achieve consistency and transparency in financial reporting for the benefit of shareholders and investors.
Some 74% of companies surveyed, representing 84% by market capitalisation of the FTSE EPRA/NAREIT Developed Europe indices now recognise the BPR by adopting at least one EPRA Performance Measure. This is a significant improvement on the 76% by market capitalisation last year.
A total of 33 awards were issued - 15 companies achieved gold awards, with nine silver and nine bronze awards. Companies in eight out of the 14 countries represented by members of the Index received an award, with British property firms winning the largest share. Gold medals were awarded to those companies recognised by EPRA for annual reports demonstrating exceptional compliance with the BPR.
Claire Faulkner, head of Deloitte’s UK Real Estate industry team, said: "Congratulations to all award winners. The results of Deloitte’s survey demonstrate that EPRA’s efforts to engage with companies to adopt the EPRA BPR have paid off, with increases in scores shown across nine out of 14 countries in the survey, with 84% of companies by market capitalisation now recognising the BPR compared to 76% last year.”
Philip Charls, chief executive of EPRA, said: “We are particularly pleased, this year, to note the increased adoption in Germany, France and Belgium. The fact that over three quarters of the EPRA index companies use the BPR, representing 84% of the index by market cap, is a major milestone in the development of the BPR. These levels of adoption, their acceptance and the use of the EPRA KPIs in the investment community, help to give EPRA the evidence to communicate to regulators the specific strengths of real estate held within the public markets. In the current environment, with the threat of poorly targeted legislation aimed at sectors perceived to present systemic risk, it is more important than ever to communicate the transparency credentials of the listed property sector”.
Notes to editors
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About the Awards
Now in its 11th year, the purpose of the EPRA Annual Report survey is to promote awareness of the EPRA Best Practices Recommendations (BPR) and to encourage and reward compliance with the BPR. The BPR aim to raise the standard of financial reporting through improving clarity, transparency and consistency in financial reporting. Eighty-five companies from a total of 14 countries across Europe were represented in the Survey.
Alstria Office REIT AG
The British Land Company PLC
Capital & Counties Properties PLC
Capital Shopping Centres Group PLC
Land Securities Group PLC
Vastned Retail NV
Warehouses de Pauw
Derwent London PLC
Great Portland Estates plc
Foncière des Régions SA
Hamborner REIT AG
PSP Swiss Property AG
Big Yellow Group PLC
Development Securities PLC
Helical Bar plc
Prime Office REIT-AG
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities.
Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.
The European Public Real Estate Association - is the voice of the publicly traded European real estate sector. With more than 200 active members, EPRA represents over EUR 250 billion of real estate assets and 90% of the market capitalisation of the FTSE EPRA/NAREIT Europe Index. Through the provision of better information to investors, improvement of the general operating environment, encouragement of best practices and the cohesion and strengthening of the industry, EPRA works to encourage greater investment in listed real estate companies in Europe.