rating
1,000 annual reports have been reviewed based on the ReportWatch criteria. Of them, the 350 top performers were also rated according to a 10-point scale.
The ranking process is based on desktop research from our ReportWatch team, who have read and then evaluated these annual reports using the criteria and rating scale described here.
The 350 highest rated annual reports
| Rating | Rank | Company | Country |
|---|---|---|---|
| A+ | 1 | SCA | Sweden |
| A+ | 2 | AkzoNobel | Netherlands |
| A+ | 3 | SKF | Sweden |
| A+ | 4 | Volvo | Sweden |
| A+ | 5 | Stora Enso | Finland |
| A | 6 | ICA Gruppen | Sweden |
| A | 7 | Novozymes | Denmark |
| A | 8 | Atlas Copco | Sweden |
| A | 9 | Epiroc | Sweden |
| A | 10 | Cloetta | Sweden |
| A | 11 | Boliden | Sweden |
| A | 12 | Electrolux | Sweden |
| A | 13 | SSAB | Sweden |
| A | 14 | Sappi | South Africa |
| A | 15 | Sasol | South Africa |
| A- | 16 | Deutsche Bahn | Germany |
| A- | 17 | Alfa Laval | Sweden |
| A- | 18 | Nutrien | Canada |
| A- | 19 | Telus | Canada |
| A- | 20 | Assa Abloy | Sweden |
| A- | 21 | Aeroflot | Russia |
| A- | 22 | Halma | UK |
| A- | 23 | Arkema | France |
| A- | 24 | Trelleborg | Sweden |
| A- | 25 | Addtech | Sweden |
| A- | 26 | CLP | Hong Kong |
| A- | 27 | BASF | Germany |
| A- | 28 | Kesko | Finland |
| A- | 29 | Glencore | UK |
| A- | 30 | Orkla | Norway |
| A- | 31 | Michelin | France |
| A- | 32 | Skanska | Sweden |
| A- | 33 | Adidas | Germany |
| A- | 34 | AstraZeneca | UK |
| A- | 35 | Axfood | Sweden |
| A- | 36 | WPP | UK |
| A- | 37 | Wärtsilä | Finland |
| A- | 38 | Swedish Match | Sweden |
| A- | 39 | Systemair | Sweden |
| A- | 40 | Eltel | Sweden |
| A- | 41 | Metso | Finland |
| A- | 42 | Saint-Gobain | France |
| A- | 43 | M&S (Marks & Spencer) | UK |
| A- | 44 | Metsä Board | Finland |
| A- | 45 | Sandvik | Sweden |
| A- | 46 | Novo Nordisk | Denmark |
| A- | 47 | UPM | Finland |
| A- | 48 | Indutrade | Sweden |
| A- | 49 | Pacific Basin | Hong Kong |
| A- | 50 | SAS | Sweden |
| A- | 51 | Neste | Finland |
| A- | 52 | Roche | Switzerland |
| B+ | 53 | Sectra | Sweden |
| A- | 54 | Daimler | Germany |
| A- | 55 | A1 Telekom Austria | Austria |
| A- | 56 | Umicore | Belgium |
| A- | 57 | SGS | Switzerland |
| A- | 58 | Kingspan | Ireland |
| A- | 59 | FLSmidth | Denmark |
| A- | 60 | EnBW | Germany |
| B+ | 61 | Kion | Germany |
| A- | 62 | Landsec | UK |
| A- | 63 | Johnson Matthey | UK |
| A- | 64 | Wienerberger | Austria |
| A- | 65 | Enagas | Spain |
| A- | 66 | Deutsche Post DHL | Germany |
| A- | 67 | Ferguson | UK |
| A- | 68 | Gunnebo | Sweden |
| A- | 69 | BillerudKorsnäs | Sweden |
| A- | 70 | Clariant | Switzerland |
| A- | 71 | Lindab | Sweden |
| A- | 72 | Yara | Norway |
| A- | 73 | Saab | Sweden |
| B+ | 74 | Workspace | UK |
| A- | 75 | Ericsson | Sweden |
| A- | 76 | TUI Group | Germany |
| A- | 77 | Straumann | Switzerland |
| A- | 78 | Covestro | Germany |
| A- | 79 | Smith & Nephew | UK |
| A- | 80 | Mondi | UK |
| A- | 81 | Rentokil Initial | UK |
| A- | 82 | Toray | Japan |
| A- | 83 | NIBE Industrier | Sweden |
| A- | 84 | Randstad | Netherlands |
| A- | 85 | Valmet | Finland |
| A- | 86 | Ahold Delhaize | Netherlands |
| A- | 87 | Husqvarna | Sweden |
| B+ | 88 | Danone | France |
| A- | 89 | United Utilities | UK |
| A- | 90 | Symrise | Germany |
| A- | 91 | British Land | UK |
| A- | 92 | Elekta | Sweden |
| A- | 93 | Strabag | Austria |
| A- | 94 | Vattenfall | Sweden |
| A- | 95 | Hays | UK |
| A- | 96 | Nobia | Sweden |
| A- | 97 | Anglo American | UK |
| A- | 98 | Fortum | Finland |
| A- | 99 | Dometic | Sweden |
| A- | 100 | Marshalls | UK |
| A- | 101 | BT | UK |
| A- | 102 | JM | Sweden |
| A- | 103 | Chugai Pharmaceutical | Japan |
| B | 104 | Mycronic | Sweden |
| A- | 105 | Philips | Netherlands |
| A- | 106 | Safran | France |
| B+ | 107 | Solvay | Belgium |
| A- | 108 | Holmen | Sweden |
| B+ | 109 | Kemira | Finland |
| B+ | 110 | Essity | Sweden |
| B+ | 111 | Prosiebensat.1 | Germany |
| B+ | 112 | Compass | UK |
| B+ | 113 | Securitas | Sweden |
| B+ | 114 | Magnit | Russia |
| A- | 115 | Sage | UK |
| A- | 116 | Wood (John Wood) | UK |
| B+ | 117 | Centrica | UK |
| B+ | 118 | Concordia Maritime | Sweden |
| B+ | 119 | Getinge | Sweden |
| B+ | 120 | Novartis | Switzerland |
| B+ | 121 | Enel | Italy |
| B+ | 122 | Ocado | UK |
| A- | 123 | Anglogold Ashanti | South Africa |
| B+ | 124 | Rolls-Royce | UK |
| B+ | 125 | Britvic | UK |
| B+ | 126 | Aurubis | Germany |
| B+ | 127 | JKH (John Keells) | Sri Lanka |
| B+ | 128 | Gränges | Sweden |
| B+ | 129 | Vopak | Netherlands |
| B+ | 130 | G4S | UK |
| B+ | 131 | Barloworld | South Africa |
| B+ | 132 | Ørsted | Denmark |
| B+ | 133 | DSM | Netherlands |
| B+ | 134 | IAG (International Airlines) | Spain-UK |
| B+ | 135 | EVN | Austria |
| B+ | 136 | Transnet | South Africa |
| B+ | 137 | Smiths | UK |
| B+ | 138 | Schneider Electric | France |
| B+ | 139 | Vodafone | UK |
| B+ | 140 | Daiwa House | Japan |
| B+ | 141 | Renewi | UK |
| B+ | 142 | Transcontainer | Russia |
| B+ | 143 | Konica Minolta | Japan |
| A- | 144 | Aspen Pharmacare | South Africa |
| B+ | 145 | Nornickel (Norilsk Nickel) | Russia |
| B+ | 146 | IHG (Intercontinental Hotels) | UK |
| B+ | 147 | Arla | Denmark |
| B+ | 148 | Sobi | Sweden |
| B+ | 149 | Capgemini | France |
| B+ | 150 | Shiseido | Japan |
| B+ | 151 | Adecco | Switzerland |
| B+ | 152 | RB (Reckitt Benckiser) | UK |
| B+ | 153 | Morrisons | UK |
| B+ | 154 | Cherkizovo | Russia |
| B+ | 155 | Informa | UK |
| B+ | 156 | Klépierre | France |
| B+ | 157 | Balfour Beatty | UK |
| B+ | 158 | Orexo | Sweden |
| B+ | 159 | Swisscom | Switzerland |
| B+ | 160 | TNB (Tenaga Nasional) | Malaysia |
| B+ | 161 | Heidelberg | Germany |
| B+ | 162 | Schmolz + Bickenbach | Switzerland |
| B+ | 163 | EVONIK Industries | Germany |
| B+ | 164 | Ferrovial | Spain |
| B+ | 165 | Evraz | UK |
| B+ | 166 | Heineken | Netherlands |
| B+ | 167 | Vaisala | Finland |
| A- | 168 | National Grid | UK |
| B+ | 169 | Diageo | UK |
| B+ | 170 | Marubeni | Japan |
| B+ | 171 | Cargotec | Finland |
| B+ | 172 | Carlsberg | Denmark |
| B+ | 173 | UCB | Belgium |
| B+ | 174 | Suek | Russia-Cyprus |
| B+ | 175 | Panasonic | Japan |
| B+ | 176 | ANA (All Nippon Airways) | Japan |
| B+ | 177 | Daiichi Sankyo | Japan |
| B+ | 178 | Lufthansa | Germany |
| B+ | 179 | Olympus | Japan |
| B+ | 180 | Infineon Technologies | Germany |
| B | 181 | Arcadis | Netherlands |
| B+ | 182 | Carrefour | France |
| B+ | 183 | Pernod Ricard | France |
| B+ | 184 | Enexis | Netherlands |
| B+ | 185 | Softbank | Japan |
| B+ | 186 | Givaudan | Switzerland |
| B+ | 187 | Vedanta | India |
| B+ | 188 | Schindler | Switzerland |
| B+ | 189 | Uralkali | Russia |
| B+ | 190 | Galp Energia | Portugal |
| B+ | 191 | Naturgy | Spain |
| B+ | 192 | Vitrolife | Sweden |
| B+ | 193 | Finnair | Finland |
| B+ | 194 | Pearson | UK |
| B+ | 195 | REE (Red Eléctrica De España) | Spain |
| B+ | 196 | Melia Hotels | Spain |
| B+ | 197 | Antofagasta | UK |
| B+ | 198 | DIMO (Diesel & Motor Engineering) | Sri Lanka |
| B+ | 199 | Geberit | Switzerland |
| B+ | 200 | CRH | Ireland |
| B+ | 201 | Severn Trent | UK |
| B+ | 202 | Tate & Lyle | UK |
| B+ | 203 | X5 Retail | Russia |
| B+ | 204 | BAE Systems | UK |
| B+ | 205 | EDF | France |
| A- | 206 | ASML | Netherlands |
| B+ | 207 | Thames Water | UK |
| B+ | 208 | Mitsui | Japan |
| B+ | 209 | Cramo | Finland |
| B+ | 210 | Russian Railways | Russia |
| B+ | 211 | Wesfarmers | Australia |
| B+ | 212 | Rosneft | Russia |
| B+ | 213 | Merck | Germany |
| B+ | 214 | ACS | Spain |
| B+ | 215 | Alliander | Netherlands |
| B+ | 216 | Clorox | U.S. |
| B+ | 217 | Lukoil | Russia |
| B+ | 218 | Omron | Japan |
| B+ | 219 | Gazprom | Russia |
| B+ | 220 | Shell (Royal Dutch Shell) | UK |
| B+ | 221 | Jenoptik | Germany |
| B+ | 222 | Inditex | Spain |
| B+ | 223 | MVV Energie | Germany |
| B+ | 224 | Teijin | Japan |
| B+ | 225 | NTT | Japan |
| B+ | 226 | Casino | France |
| B+ | 227 | Airasia | Malaysia |
| B+ | 228 | Volvo Cars | Sweden |
| B+ | 229 | Lindt & Sprüngli | Switzerland |
| B+ | 230 | Associated British Foods | UK |
| B+ | 231 | SES | Luxembourg |
| B+ | 232 | LafargeHolcim | Switzerland |
| B+ | 233 | Swiss Prime Site | Switzerland |
| B+ | 234 | OMV | Austria |
| B+ | 235 | Phosagro | Russia |
| B+ | 236 | En+ | Russia |
| B+ | 237 | Taylor Wimpey | UK |
| B+ | 238 | TM (Telekom Malaysia) | Malaysia |
| B+ | 239 | Eutelsat | France |
| B+ | 240 | BioGaia | Sweden |
| B+ | 241 | Gazprom Neft | Russia |
| B+ | 242 | Andritz | Austria |
| B+ | 243 | Genmab | Denmark |
| B+ | 244 | Syngenta | Switzerland |
| B+ | 245 | Citycon | Finland |
| B+ | 246 | DSV Panalpina | Denmark |
| B+ | 247 | Lixil | Japan |
| B+ | 248 | Hammerson | UK |
| B+ | 249 | Travis Perkins | UK |
| B+ | 250 | Babcock | UK |
| B+ | 251 | Kerry | Ireland |
| B+ | 252 | Camurus | Sweden |
| B+ | 253 | Dialog | Malaysia |
| B+ | 254 | Intel | U.S. |
| B+ | 255 | Autoliv | Sweden |
| B+ | 256 | British American Tobacco | UK |
| B+ | 257 | Afry | Sweden |
| B+ | 258 | Itochu | Japan |
| B+ | 259 | Semperit | Austria |
| B+ | 260 | Victrex | UK |
| B+ | 261 | SSE (Scottish And Southern Energy) | UK |
| B+ | 262 | Asahi | Japan |
| B | 263 | KMG (Kazmunaygas) | Kazakhstan |
| B+ | 264 | Sumitomo Chemical | Japan |
| B+ | 265 | AT&S | Austria |
| B+ | 266 | Henkel | Germany |
| B+ | 267 | Hexagon | Sweden |
| B+ | 268 | Rushydro | Russia |
| B+ | 269 | Inter Rao | Russia |
| B+ | 270 | Hochtief | Germany |
| B+ | 271 | BP | UK |
| B+ | 272 | ISS | Denmark |
| B+ | 273 | Japan Tobacco | Japan |
| B+ | 274 | Ajinomoto | Japan |
| B+ | 275 | Docomo (NTT Docomo) | Japan |
| B+ | 276 | Mitsubishi | Japan |
| B+ | 277 | Eisai | Japan |
| B+ | 278 | Bayer | Germany |
| B+ | 279 | L'Oréal | France |
| B+ | 280 | Morphosys | Germany |
| B+ | 281 | CellaVision | Sweden |
| B+ | 282 | Sodexo | France |
| B+ | 283 | Optigroup | Sweden |
| B+ | 284 | Accor | France |
| B+ | 285 | Megafon | Russia |
| B+ | 286 | Puma | Germany |
| B+ | 287 | Migros | Switzerland |
| B+ | 288 | Woolworths | Australia |
| B+ | 289 | Barco | Belgium |
| B+ | 290 | Vonovia | Germany |
| B+ | 291 | Entergy | U.S. |
| B+ | 292 | Continental | Germany |
| B+ | 293 | Tata Motors | India |
| B+ | 294 | Christian Berner Tech Trade | Sweden |
| B+ | 295 | Brenntag | Germany |
| B+ | 296 | Nestlé | Switzerland |
| B+ | 297 | Relx | UK |
| B+ | 298 | Ahlstrom-Munksjö | Finland |
| B+ | 299 | Cascades | Canada |
| B+ | 300 | Tennet | Netherlands |
| B+ | 301 | Norden | Denmark |
| B+ | 302 | KPN | Netherlands |
| B+ | 303 | Nokia | Finland |
| B+ | 304 | MTS | Russia |
| B+ | 305 | Whitbread | UK |
| B+ | 306 | Proximus | Belgium |
| B+ | 307 | Fresenius Medical Care | Germany |
| B+ | 308 | Serco | UK |
| B+ | 309 | Nobina | Sweden |
| B+ | 310 | Phoenix Mecano | Switzerland |
| B+ | 311 | Imperial Brands | UK |
| B+ | 312 | Lonza | Switzerland |
| B+ | 313 | Rusagro | Russia |
| B+ | 314 | Vestas Wind Systems | Denmark |
| B+ | 315 | Mitsubishi Tanabe Pharma | Japan |
| B+ | 316 | Mekonomen | Sweden |
| B+ | 317 | Scapa | UK |
| B+ | 318 | Semcon | Sweden |
| B+ | 319 | BHP | UK |
| B+ | 320 | J Sainsbury | UK |
| B+ | 321 | BCE | Canada |
| B+ | 322 | TDC | Denmark |
| B+ | 323 | Unibail-Rodamco-Westfield | France |
| B+ | 324 | Segro | UK |
| B+ | 325 | Altarea Cogedim | France |
| B+ | 326 | Kone | Finland |
| B+ | 327 | ST Engineering | Singapore |
| B+ | 328 | FirstGroup | UK |
| B+ | 329 | Yamaha Motor | Japan |
| B+ | 330 | Tokyo Gas | Japan |
| B+ | 331 | Sumitomo | Japan |
| B+ | 332 | Rosseti (Federal Grid) | Russia |
| B | 333 | Air Liquide | France |
| B | 334 | Hayleys | Sri Lanka |
| B | 335 | Airbus | Netherlands |
| B | 336 | Sime Darby | Malaysia |
| B | 337 | Caverion | Finland |
| B | 338 | Alstria | Germany |
| B | 339 | Fast Retailing | Japan |
| B | 340 | Bonava | Sweden |
| B | 341 | Sonova | Switzerland |
| B | 342 | Telia Company | Sweden |
| B+ | 343 | Unilever | UK |
| B | 344 | Kingfisher | UK |
| B | 345 | Dr. Reddy's Laboratories | India |
| B | 346 | K+S | Germany |
| B | 347 | Lucas Bols | Netherlands |
| B | 348 | Lundbeck | Denmark |
| B | 349 | Sartorius | Germany |
| B | 350 | ZF | Germany |