Two Awards for CA Immo 2009 Annual Report
- Silver rating in the EPRA Annual Report Survey 2009/10
- Code of values specific to the property sector planned
Once again, CA Immo has earned awards for its exemplary corporate governance and its consistently transparent reporting. At the Austrian Annual Report Award organised by the business magazine ‘trend’, in which a jury of practising businesspeople and academics chooses Austria’s best annual reports of the year, CA Immo was awarded the prize for excellence in recognition of its corporate governance and transparency.
The company’s financial reporting also secured a prize in an international comparison of sectors, with the European Public Real Estate Association (EPRA) conferring its silver rating on CA Immo in its annual EPRA Annual Report Survey. The survey evaluates 80 annual reports compiled by leading, publicly listed real estate companies from around Europe with the aim of promoting greater consistency and transparency in financial reporting for the benefit of speculators and investors.
According to Wolfhard Fromwald, CFO of CA Immo, “These awards are highly satisfying and a vindication of the work of our company in particular, but more importantly they are absolutely critical to the entire real estate sector in Austria in terms of re-establishing our reputation as a trusted partner in the wake of the severe crisis on the trading floor.” A code of values specific to the property sector will be drawn up in partnership with fellow organisations in the field with a view to enhancing the image of Austrian real estate companies over the long term. “The values will be partly derived from the ICG standards applicable in the German property sector, on the basis of which our subsidiary Vivico became the first German real estate development company to be certified”, reveals Mr. Fromwald. “We will also carry on working hard to improve our reporting and external communications.”
Wednesday, 22. September 2010 15:53