TDC wins accounts prize: Disappointing year but well reported

Company praised for clarity and acuity of its financial reporting

Jun 3, 2015

It may have been a difficult year for TDC, marked by a price war with competitors and a resultant drop in turnover and pre-tax profit from 24 to 23.3 billion kroner and 3.4 to 2.8 billion kroner respectively.

But some consolation came from the fact that the telecom company has been crowned this year’s winner of the C20 accounts prize (C20 Regnskabsprisen). The prize is awarded on an annual basis to the company in the Danish C20 ‘blue chip’ index judged to have produced the best set of annual accounts.

Sharp set of accounts
The judging committee emphasised the presentation and acuity of TDC’s financial reporting.

“TDC have made a sharp set of accounts, excelling in every parameter,” they said.

“The telecom company manages, among other things, to give the reader a very convincing and honest follow-up of relevant goals and previously announced expectations, and there are follow-ups on both good and less good results.”

Other points for which TDC was commended were information on the company’s risk management and its focus on cutting clutter.

“TDC has compiled an exemplary presentation of the company’s financial and non-financial risks,” the judges said.