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For the first time H&H Webranking has included the GCC in its annual survey of corporate website performance.
The 85 largest GCC companies, measured by market capitalization, in five GCC countries are included in the ranking.
Sites are assessed according to 140 criteria which are derived from H&H's annual survey of business journalists, analysts and investors to identify what information and functionality they value most highly from a listed company's corporate website.
This year, 800 corporate websites in 30 different countries have been included in the global rankings.
"The number of listed companies in the Gulf region has increased substantially over the past few years and the region is becoming increasingly interesting for international investors. This is why we have included the GCC in our annual H&H Webranking survey. Any company looking to compete on an equal footing for international investor attention needs to utilise high quality online communication,"
said Staffan Lindgren, Executive Partner of H&H.
The first edition of the H&H Webranking GCC awarded top honours to Emaar as the best website in the region for corporate online communications.
"Emaar wins the 2009 H&H Webranking in the Gulf as they present themselves online through a website that best fulfils the requirements for a corporate website's target audiences. In particular, Emaar's website has a well developed Investor Relations section which offers information that is in demand by the capital market, such as presentations, financial figures and a lot of share-related information" says Staffan Lindgren, Executive Partner of H&H.
GCC outlook
The rankings show that some Gulf region companies are using the online medium for financial disclosure reasonably effectively. However, the spread of results within the region ranges from 0 to 34.25 points.
This indicates that the level of website performance differs substantially, with some companies performing poorly.
The Gulf average is below the European average, 18.5 compared to 50.3 (average of 700 European companies in H&H Webranking 2008).
Bahrain is the highest average scoring country in the region, although there is no significant difference between the five countries covered by this survey.
Comparing the different sections in the survey, it is within General Company Information, Technology and Front page, where the Gulf companies show strong results. One of the strongest contenders in this area was Aldar Properties who have won a special award for 'best use of video and photography'.
Examples of areas with room for improvement in the GCC region are Financial Information, Corporate Governance and Financial Calendar. All these areas are increasingly important for the international capital markets.
"Many GCC companies are failing to use their corporate websites as their principle communication channel to the same degree as companies in other international markets. In order to communicate effectively to the key audiences in the capital markets, they need to adapt to international norms and standards of corporate communication. A corporate website, rich with information in English, is now one of the single most important ways to attract international investors. Reliable and transparent corporate communication is an essential part of the process to create trust." says Staffan Lindgren, Executive Partner of H&H.
Commenting on the results of the survey, Nicholas Lunt, Gulf Region MD of H&H's sister company, M: Communications, added: "It's important to place these results in the context of the wider region and to understand that local and south Asian investors are a critical audience for listed companies in the GCC. Most GCC listed companies are head and shoulders above their regional peers when it comes to Investor Relations (IR) and PR. IR and PR industry professionals should focus on helping them weld together methodologies that are appropriate for their core target audiences with the best elements of international best practice. For example the way Aldar Properties uses video and photography on its website is an excellent example of a company presenting a human yet dynamic face to its stakeholders, something that I know is particularly valued in the Gulf Region".
The best Bahrain corporate website belongs to Gulf Finance House, with a score of 26.5 points. In second place we find Al Baraka Banking Group with 26 points. Arab Banking Corporation, with 25.5, takes the bronze together with Invest Corp Bank. Bahrain has the highest average score in GCC region. The ten largest companies in Bahrain, measured by market capitalization, were included in the survey.
Emaar with a score of 34.25 takes top position in United Arab Emirates. Second place goes to Abu Dhabi National Energy Company (33.75), and Sorouh Real Estate (33) fills the third place slot. The United Arab Emirates as a country has the second highest score in the GCC survey. The 34 largest companies in United Arab Emirates, measured by market capitalization, were included in the survey.
ZAIN with a score of 33.5 takes top position in Kuwait. Second place goes to The Public Warehousing Company (23.75) and Kuwait Finance House (19.5) rounding up the top three best performers. The nine largest companies in Kuwait, measured by market capitalization, were included in the ranking.
Al Khalij Commercial Bank grabs first place in Qatar with a score of 28.75, while second and third place goes to Commercial Bank (23) and Industries Qatar (22.25) respectively. The 12 largest companies in Qatar, measured by market capitalization, were included in the ranking.
SABIC takes the top slot in Saudi Arabia with a score of 30.5, followed by Dar Al Arkan and SABB each with a score of 24. The bronze goes to ZAIN KSA with a score of 22.25. The 20 largest companies in Saudi Arabia, measured by market capitalization, were included in the ranking.
Sector outlook
Gulf Finance House (26.5) has the highest score in the General Financial sector. Second place goes to Al Baraka Banking Group (26) and Arab Banking Corporation (25.5) takes the bronze.
Al Khalij Commercial Bank (Al Khaliji) with a score of 28.75 receives the highest score in the Bank sector. On second place we find Emirates NBD (25.75) and National Bank of Abu Dhabi 24.75 on the third.
ZAIN with a score of 33.5 takes the top position in the Telecommunication sector, while second place goes to Qatar Telecom (28) and third place to Du (22.75).
Aldar Properties wins a special award for the best use of video and photography to illustrate its corporate story.
How H&H Webranking works
The H&H Webranking survey, which is now in its 13th annual edition, is the most comprehensive research and analysis of corporate online communication in Europe. The study evaluates the English language version of companies' websites, excluding the commercial sections. H&H Webranking is the established international yardstick of website performance of 700 of Europe's biggest listed companies.
The H&H Webranking questionnaire
Every year the Webranking survey taps into the demands of the capital markets via a questionnaire sent out to analysts, investors and business journalists. Around 350 professionals throughout Europe replied to the 2009 questionnaire, which investigates how they use the web and what information and functionalities they require of corporate websites. These answers are used to define the protocol on which the evaluation is based.
The criteria and how companies are evaluated
The H&H Webranking protocol consists of 140 criteria divided into 11 sections, for a maximum score of 100 points. The structure of the protocol resembles the past years, although many of the criteria have been re-weighted and regrouped. New criteria have also been introduced. This substantial similarity allows for an easier comparison of results over time, even as the protocol becomes more demanding every year. The most heavily weighted section is still that which is dedicated to financial information, and making up 30% of the final score.
Posted by Nadeen El Ajou
