At its annual conference, the European Public Real Estate Association (EPRA), representing listed real estate companies, acclaimed Citycon's Annual and Sustainability Report 2010 as one of the best in the industry. Every year, the EPRA assesses the annual reports and their financial statements sections of 83 European listed real estate companies, and rewards the best reports.
This year, nine companies were granted a Gold Award. Citycon's Annual Report was one of the top nine. Citycon won second time running, also the year 2009´s annual report was rewarded with EPRA Gold Award.
Among others, Citycon was praised for its comprehensive management review with detailed strategy and KPIs. In addition, dedicated property portfolio section with information on valuation, tables with key data and detailed analysis of development projects were appreciated. EPRA valued also that Citycon represents in its annual report a separate EPRA performance section with summary tables and that all performance measures tables are reconciled to its IFRS information.
The EPRA's mission is to make the voice of listed real estate companies heard in Europe, while promoting consistency in their reporting and, thus, comparability in the eyes of investors.
Together with experts and listed companies from various sectors, the EPRA has established reporting standards and recommendations which are continuously updated. Alongside other EPRA members and European real estate companies, Citycon adheres to EPRA recommendations. The company has been and continues to be involved in the development of reporting. In particular, the Annual Report survey focuses on compliance with EPRA reporting standards.
Eero Sihvonen, CFO, Executive Vice President, tel: +358 50 557 9137
Hanna Jaakkola, Vice President, IR and Communications, tel: +358 40 566 6070