At its annual conference, the European Public Real Estate Association (EPRA), representing listed real estate companies, acclaimed Citycon's Annual and Sustainability Report 2011 as one of the best in the industry. Citycon won now for the third year in a row in the Financial Best Practices series and also gained the Gold Award in the first time ever awarded Sustainability Best Practices.
Among others, Citycon received thanks for its month by month breakdown of significant events included in the opening section of the report giving a clear picture of the Group’s activities during the year. In addition EPRA performance measures discussed throughout the business review and included as key metrics as well as in a separate EPRA performance section was seen as positive. – We have the same target in our reporting as what the EPRA strives for: to continuously provide accurate, consistent, transparent and up-to date information on the company, in order to give an open and clear picture to the markets. The recognition we have received from the EPRA indicates that we have succeeded well in our desire, says Eero Sihvonen, Executive Vice President and CFO of Citycon.
This year also the Best Practices Recommendations for Sustainability were assessed separately for the first time. Also Citycon’s Sustainability reporting was awarded with the best in the industry Gold Award. – EPRA’s Sustainability BPRs are a great and in my view needed step in industry development. Standardized guidelines and reporting practices really ease our work in Sustainability reporting. We are extremely pleased for the award and aim to continue to keep our quality high both in reporting and performance, says Kirsi Borg, Vice President, Sustainability.
The EPRA assessed the annual and sustainability reports as well as financial statements of 84 European listed real estate companies this year. Of these all together 15 companies, including Citycon, were granted a Gold Award in Financial Best Practices and seven in Sustainability Best Practices this year.
Eero Sihvonen, CFO, Executive Vice President, tel: +358 50 557 9137
Hanna Jaakkola, Vice President, IR and Communications, tel: +358 40 566 6070
Kirsi Borg, Vice President, Sustainability, tel: +358 40 557 6526
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