View the full Brand Finance Norway 10 2019 report here
Equinor forsvarer tittelen
Med en økt merkeverdi på 12% som setter verdien til 77.2 milliarder norske kroner, forblir Equinor Norges mest verdifulle merkevare ifølge den siste rapporten fra det frittstående og verdensledende konsulentselskapet innen verdivurdering av merkevarer, Brand Finance. Fjorårets prosess med å omprofilere fra Statoil til Equinor var en modig avgjørelse for en slik stor energiaktør, og det ble stilt en rekke kritiske spørsmål ved den langsiktige suksessen som en konsekvens av endringen. Equinor kan nå vise til fjorårets gode finansielle resultater, noe som tyder på en lovende fremtid for den nye identiteten til merkevaren.
Omprofileringen fra Statoil reflekterer merkevarens ambisjon om å bli et bredere energiselskap. Equinor symboliserer i dag en helomvending for selskapets strategi, men beholder likevel mye av Statoils merkeverdi hos sentrale interessenter.
I tillegg til å kalkulere merkeverdi, evaluerer også Brand Finance den relative merkestyrken gjennom et balansert scoringskort som beregner markedsinvesteringer, interessentkapital og forretningsresultater. Basert på disse kriteriene har Equinor sin merkestyrke sunket fra 85,4 til 81,1, hvor maksimal score er 100. Dette resulterer i en nedgradering fra AAA til AAA-. Til tross for dette er merkevaren fremdeles sterkere enn noen andre på Brand Finance Norway sin topp 10 liste.
David Haigh, CEO i Brand Finance, uttaler:
“Equinor sin omprofilering representerer en tid hvor det er mulig å omfavne bærekraftig energi i en ny økonomi. Det gjenstår fremdeles å se den langvarige effekten av omprofileringen, men så langt ser det lovende ut for Equinor og de kan være stolte av jobben de har lagt ned og det de har oppnådd frem til i dag.”
Telenor møter motgang
Telenor er fremdeles nummer to på listen over de mest verdifulle merkevarene i Norge, til tross for signifikant reduksjon av merkeverdien med en nedgang på 16% til 48 milliarder. I likhet med mange andre globale leverandører av telekommunikasjon, står også Telenor overfor utfordringer med en økende tilgjengelighet av deres kjernetjenester. Samtidig er det et stadig større behov for å implementere ny teknologi som krever betydelige kapitalinvesteringer, som for eksempel 5G mobiltelefoni. Telenor må kjempe om de skal unngå å kun bli en tjeneste som bærer frem andre spennende merkevarer slik som Amazon, Netflix og Facebook, og å ta i bruk nye tjenester som kan tilføre verdi og sikre fremtidige inntekter.
Yara er Norges raskest voksende merkevare
Yara er den raskest voksende merkevaren på årets Brand Finance Norway topp 10 liste med en økning på 34% til 10,3 milliarder. Med dette kaprer de 4. plassen fra Norwegian som synker ned til 5. plass med en reduksjon i merkeverdien på 7% til 7,5 milliarder. Yaras økende merkeverdi kommer både fra organisk økonomisk vekst og bedre merkestyrke. Norwegian har på den andre siden opplevd turbulens grunnet finansielle utfordringer, noe som nesten slo flyselskapet konkurs. Som en konsekvens av dette er Norwegian den merkevaren som opplever størst reduksjon i merkestyrke på Brand Finance Norway sin topp 10 liste med en nedgang fra 82,9 til 69,9 av 100, og med en tilhørende nedgradering fra AAA- til kun AA.
Kongsberg entrer listen
Kongsberg Gruppen, med en merkeverdi på 3,2 milliarder, ble for første gang rangert på Brand Finance Norway sin topp 10 liste etter arbeidet de har gjort i luftfart- og forsvarssektoren. Denne ikoniske merkevaren har tidligere opplevd en rekke utfordringer knyttet til mislighold rundt store offentlige kontrakter, men utviklingen og leveransen av en rekke høyteknologiske produkter bidrar nå til å beskytte og styrke merkeverdien i tiden fremover. Med Kongsbergs tiltredelse på listen har XXL falt ned til 10. plass med en merkeverdi ned 24% til 2,8 milliarder. XXL har tapt signifikant merkeverdi som en konsekvens av å ikke levere forventede resultater gjentatte ganger.
Brand Finance Nordic 50 2019: Sverige dominerer
Ved å se på rangeringer som dekker flere regioner, er svenske merkevarer godt representert med én i hver andre posisjon på Brand Finance Nordic 50 rangeringen, og har kapret seks av de ti øverste plasseringene. IKEA kåres til den mest verdifulle merkevaren med en merkeverdi som har økt 17% til 197,9 milliarder, H&M tar andreplassen med en merkeverdi som har sunket 12% til 132,6 milliarder og Volvo kaprer tredjeplassen med en merkeverdi som har økt 15% til 115,1 milliarder.
Prosjektering og konstruksjon dominerer blant sektorene med hele 10 merkevarer representert på rangeringen. Svenske Skanska er høyest rangert på 20. plass med en merkeverdi på 19,1 milliarder, etterfulgt av Vestas på 21. plass med merkeverdi på 18,7 milliarder. Andre sektorer som også er godt representert er banksektoren med syv merkevarer og detaljhandel med fem merkevarer på rangeringen.
Kun fire norske merkevarer når opp til Brand Finance Nordic topp 50 rangeringen, altså færre enn fra både Sverige (24), Danmark (16) og Finland (6). Likevel finner vi to norske merkevarer på topp 10 listen med Equinor på 5. plass og Telenor på 7. plass over de mest verdifulle merkevarene på kryss av regionen.
View the full Brand Finance Norway 10 2019 report here
ENDS
Note to Editors
Every year, Brand Finance values 5,000 of the world’s biggest brands. The 10 most valuable Norwegian brands are included in the Brand Finance Norway 10 2019 ranking, and the 50 most valuable brands across the Nordic countries are included in the Brand Finance Nordic 50 2019 ranking.
Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors.
Additional insights, charts, and more information about the methodology, as well as definitions of key terms are available in the Brand Finance Norway 10 2019 report.
Data compiled for the Brand Finance rankings and reports are provided for the benefit of the media and are not to be used for any commercial or technical purpose without written permission from Brand Finance.
Media Contacts
Konrad Jagodzinski
Communications Director, Brand Finance
T: +44 (0)2073 899 400
M: +44 (0)7508 304 782
[email protected]
Robert Leinders-Krog
CEO, XY01
M: +47 928 80 111
[email protected]
Follow Brand Finance on Twitter @BrandFinance, LinkedIn, Instagram, and Facebook.
Follow XY01 on LinkedIn and Facebook.
About Brand Finance
Brand Finance is the world’s leading independent brand valuation consultancy, with offices in over 20 countries. Brand Finance bridges the gap between marketing and finance by quantifying the financial value of brands.
Brand Finance helped craft the internationally recognised standard on Brand Valuation – ISO 10668, and the recently approved standard on Brand Evaluation – ISO 20671.
Brand Finance is a chartered accountancy firm regulated by the Institute of Chartered Accountants in England and Wales (ICAEW), and also the first brand valuation consultancy to join the International Valuation Standards Council (IVSC).
Brand Finance’s brand value rankings have been certified by the Marketing Accountability Standards Board (MASB) through the Marketing Metric Audit Protocol (MMAP), the formal process for validating the relationship between marketing measurement and financial performance.
About XY01
XY01 is a next generation strategic branding consultancy that combines brand management and technology leadership with the agility and speed of a startup. The highly international team based out of Oslo is comprised of transformation and branding leaders, technology and growth strategists, trend and intelligence experts, and strategic designers. Collectively, the team has worked with transforming businesses and unlocking brand-driven growth in more than 30 countries.
Methodology
Definition of Brand
Brand Finance helped to craft the internationally recognised standard on Brand Valuation – ISO 10668. It defines a brand as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand Strength
Brand strength is the efficacy of a brand’s performance on intangible measures, relative to its competitors. In order to determine the strength of a brand, we look at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding rating up to AAA+ in a format similar to a credit rating.
Brand Valuation Approach
Brand Finance calculates the values of the brands in its league tables using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Brand revenues are discounted post-tax to a net present value which equals the brand value.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.
Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.
Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
