Brand Finance-最具价值和实力的公用事业品牌年度报告（英文）-2021.04正式版

Utilities

50

2021

TheannualreportonthemostvaluableandstrongestutilitiesbrandsApril2021

Contents.

AboutBrandFinance

4

GetinTouch

4

B

6

BrandFinanceGroup

6

Foreword

8

ExecutiveSummary

10

BrandValue&BrandStrengthAnalysis

12

BrandFinanceUtilities50(USDm)

16

SectorReputationAnalysis

18

Methodology

20

Definitions

22

BrandValuationMethodology

23

BrandStrength

24

BrandEquityResearchDatabase

25

OurServices

26

ConsultingServices

28

BrandEvaluationServices

29

CommunicationsServices

30

BrandFinanceNetwork

33

©2021Allrightsreserved.BrandFinancePlc.

BrandFinanceUtilities50 April20213

AboutBrandFinance.

BrandFinanceistheworld'sleadingbrandvaluationconsultancy.

WebridgethegapbetweenmarketingandfinanceBrandFinancewassetupin1996withtheaimof'bridgingthegapbetweenmarketingandfinance'.For25years,we

RequestyourownBrandValueReport

havehelpedcompaniesandorganisationsofalltypestoconnecttheirbrandstothebottomline.

Wequantifythefinancialvalueofbrands

Weput5,000oftheworld’sbiggestbrandstothetesteveryyear.Rankingbrandsacrossallsectorsandcountries,wepublishnearly100reportsannually.

Weofferauniquecombinationofexpertise

Ourteamshaveexperienceacrossawiderangeofdisciplinesfrommarketingandmarketresearch,tobrandstrategyandvisualidentity,totaxandaccounting.

WeprideourselvesontechnicalcredibilityBrandFinanceisacharteredaccountancyfirmregulatedbytheInstituteofCharteredAccountantsinEnglandandWales,andthefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil.

OurexpertshelpedcrafttheinternationallyrecognisedstandardsonBrandValuation–ISO10668andBrandEvaluation–ISO20671.Ourmethodologyhasbeencertifiedbyglobalindependentauditors–AustrianStandards–ascompliantwithboth,andreceivedtheofficialapprovaloftheMarketingAccountabilityStandardsBoard.

GetinTouch.

ABrandValueReportprovidesacompletebreakdownoftheassumptions,datasources,andcalculationsusedtoarriveatyourbrand’svalue.

Eachreportincludesexpertrecommendationsforgrowingbrandvaluetodrivebusinessperformanceandoffersacost-effectivewaytogainingabetterunderstandingofyourpositionagainstcompetitors.

Visit/request-a-valuationoremailenquiries@

BrandValuation

Summary Brand

StrengthTracking

RoyaltyRates

Insight

Strategy

t

s

Benchmarking

i

f

e

n

e

B

Forbusinessenquiries,pleasecontact:

RichardHaigh

ManagingDirector

+447725314400

rd.haigh@

Formediaenquiries,pleasecontact:

FlorinaCormack-Loyd

SeniorCommunicationsManager

+4402073899444

f.cormackloyd@

Forallotherenquiries,pleasecontact:

enquiries@

+442073899400

Formoreinformation,pleasevisitourwebsite:

/company/brand-finance

/brandfinance

/brandfinance

/brand.finance

C

o

n

Costof

t

CapitalAnalysis

e

n

t

s

Customer

ResearchFindings

Education

Communication

Understandin

4 BrandFinanceUtilities50 April2021

enquiries@/

Competitor

BrandFinanceUtilities50 April20215

Benchmarking

B

Brandirectory

istheworld’slargestdatabaseofcurrentandhistoricalbrandvalues,providingeasyaccesstoallBrandFinancerankings,reports,whitepapers,andconsumerresearchpublishedsince2007.

+Browsethousandsofpublishedbrandvalues

+ Trackbrandvalue,strength,andratingacrosspublicationsandovertime

+ Useinteractivechartstocomparebrandvaluesacrosscountries,sectors,andglobalrankings

+ Purchaseandinstantlyunlockpremiumdata,completebrandrankings,andresearch

Visit

tofindoutmore.

BrandFinanceGroup.

BrandFinanceInstitute

BrandFinanceInstituteistheeducationaldivisionof

BrandFinance,whosepurposeistocreateandfoster

aprofessionalenvironmentforknowledge-sharingand

networkingamongpractitionersandexpertsinthe

market.BFIorganisesevents,in-companytraining,and

corporateeducationalinitiativesaroundtheworld.Inthe

questformarketingexcellenceandwiththepurpose

toequipthebrandvaluationandstrategypractitioners

withthenecessaryskillsandtools,wehavedeveloped

awiderangeofprogrammesandcertificationsin

collaborationwiththemostcovetedbusinessschools,

universitiesandthoughtleadersinthefield.

BrandDialogue

BrandDialogueisapublicrelationsagencydevelopingcommunicationsstrategiestocreatedialoguethatdrivesbrandvalue.BrandDialoguehasover25yearsofexperienceindeliveringcampaignsdrivenbyresearch,measurement,andstrategicthinkingforavarietyofclients,withastrongbackgroundingeographicbranding,includingsupportingnationbrandsandbrandswithageographicalindication(GI).BrandDialoguemanagescommunicationsactivitiesacrossBrandFinanceGroup'scompaniesandnetwork.

VI360

VI360isabrandidentitymanagementconsultancyworkingforclientsofallsizesonbrandcompliance,brandtransition,andbrandidentitymanagement.VI360providestraightforwardandpracticalbrandmanagementthatresultsintangiblebenefitsforyourbusiness.

6 BrandFinanceUtilities50 April2021

GlobalBrandEquityMonitor

Originalmarketresearchon2,500brands

29countriesand23sectorscovered

Morethan50,000respondentssurveyedannually

Wearenowinour5thconsecutiveyearconductingthestudy

Visit/consumer-research

oremailenquiries@

/utilitiesenquiries@

BrandFinanceUtilities50 April20217

Foreword.

StateGrid

DavidHaigh

CEO,BrandFinance

25yearsago,on1stApril1996,IlaunchedBrandFinanceto‘BridgetheGapBetweenMarketingandFinance’.Ithoughtthatthegapbetweenthesiloswouldprogressivelydisappearasfinancepeoplelearnedtheimportanceofmarketingfordrivinggrowthandmarketingpeoplelearnedtheneedforfinancialaccountability.

Progresshasbeenmadebutthegapisstillthereandwearenowworkinghardthroughourpublications,rankings,forumsandtheBrandFinanceInstitutetrainingprogrammestonarrowthegap.

Overthelast25yearswehavelivedthroughfourmajorrecessions:2001,whenthedotcombubbleburst;2009,whentheGreatFinancialCrashwashedoverus;2013,whentheEurocausedameltdowninEuropeandin2020,whentheCovidPandemicbroughttheworldtoahalt.

BrandFinancehasbeenthroughmanyupsanddownsbutwehavesurvivedbecausewehavealwaystriedtoleadourgrowingnichemarket.WeclaimtobetheWorldsLeadingBrandValuationFirm.Overthelast25yearswehaveinnovatedcontinuouslyinourmarketplaceandwehavetransparentlysharedourinnovations,knowledgeandtechniquestohelpgrowthemarket,mostobviouslyviaISOglobalstandardsonBrandValuationandBrandEvaluation.

Throughoutthelast25yearswehavealwaysinvestedheavilyintrainingandprofessionalisingourstaff,inresearchtobringgreaterinsighttoourworkandinhighprofilemarketingandcommunications.Wepracticewhatwepreachtoclients.

Therehasneverbeengreaterrecognitionofbrandsasassetsandtheneedtomanagethemforvalue.WearepoisedforsignificantgrowthasCEOsandBoardswakeuptotheneedtomanagebrandsbetter.

IstartedBrandFinanceinthesparebedroominTeddington.WenowoperatefromtheBrandExchangebuildingintheheartoftheCityofLondonandin25citiesworldwide.

Overthelast25years,manyfamousbrandshavedisappearedordeclined.Manynewbrandshaveemerged.Sectorshaverisenandfallen.Oilandgasbrandsareindeclinewhiledata-andtechnology-drivenbrandsarebooming.AmericaandEuropearelosingouttoChinaandAsia.

Butwhiletheremaybevolatility,brandshaveneverbeenmoreimportantforNations,Companies,ProductsandServices.WithanudgefromBrandFinanceevenFootballteamsandtheMonarchynowrecognisethattheyhavevaluablebrands.

Ihopethenext25yearswillbeasinterestingandfunasthelast.Iwouldliketothankalltheclients,staffandpartnerswhohavehelpedBrandFinanceoverthelast25years.

ChargesAheadasWorld’sMostValuableUtilitiesBrandfor4thConsecutiveYear.

Totalvalueofworld’stop50mostvaluableutilitiesbrandshasdeclinedby7%year-on-year

StateGridnamedworld’smostvaluableutilitiesbrandfor4thconsecutiveyear,brandvaluedown3%toUS$55.2billion

SixChinesebrandsthatfeatureinrankingaccountfor36%ofthetotalbrandvalue

E.ONandVattenfallelectrifyasfirstandsecondfastestgrowingbrands,up59%and36%,respectively

KEPCOisworld’sstrongestutilitiesbrand,Brand

StrengthIndex(BSI)score86.4outof100

8 BrandFinanceUtilities50 April2021 BrandFinanceUtilities50 April20219

Executive

Summary.

BrandValue&

BrandStrengthAnalysis.

BrandValue&BrandStrengthAnalysis.

ChinaYangtzePowerisanewentrantthisyear,claiming49thpositionintheranking.Thebrandisthelargesthydropowercompanyintheworldintermsofconsolidatedinstalledcapacityofhydropower.ItjoinedtheLondonStockExchangelastyear,becomingthethirdcompanytolistinLondonthroughtheLondon-ShanghaiStockConnectScheme.

ThetotalvalueofthesixChinesebrandsintherankingaccountfor36%ofthetotalbrandvalue.BehindChina,theUS’s20brandsthatfeatureaccountfor19%ofthetotalbrandvalue.

E.ONandVattenfallelectrifyasfastestgrowing

Top10MostValuableBrands

101

2021:$55,203m

-3.1%

2020:$56,965m

2

02

2021:$11,899m

+0.8%

2020:$11,799m

3

03

World’stop50utilitiesbrandsdown7%

Thetotalvalueoftheworld’stop50mostvaluableutilitiesbrandshasdeclinedby7%,decreasingfromUS$197.0billionin2020toUS$183.6billionin2021.

StateGridchargesahead

StateGridhasretainedthetitleoftheworld’smostvaluableutilitiesbrandbyaconsiderablemargin,despiterecordinga3%decreaseinbrandvaluetoUS$55.2billion.

Spanning26provincesandsupplyingpowertoover

1.1billionpeople,equatingtoastaggering88%ofthepopulation,StateGridistheworld’slargestpublicutilitybrand.ThebehemothalsooperatesoverseasinthePhilippines,Brazil,Portugal,Australia,andItaly.Thebrandiscontinuingtoexpanditsglobalfootprint,particularlyintheLatinAmericaregion,havingannouncedthepurchaseofChileancompaniesChilquintaandCGElastyear.

FollowingPresidentXiJinping’sboldpledgetomakeChinacarbonneutralby2060,StateGridhasoutlineditsplantosupportthenation’scleanenergydrivethroughthedevelopmentofnewinfrastructure-includingwind,solar,andhydropower-aswellasthepromotionofelectricenergytoreplacecoalandfossilfuels.

Astheworldcametoastandstilllastyear,utilitiesbrandsfelttheshockwaveofdecreasedpowerandelectricitydemandandgrappledwithdisruptionstosupplychainsandthefalloutfromtheglobaleconomicslowdown.Despitethetotalbrandvalueoftheworld’stop50mostvaluableutilitiesbrandsdeclining7%year-on-year,aseconomiesbegintobounceback,sowillutilitiesbrands.

RichardHaigh

ManagingDirector,BrandFinance

Thesector’sfastestgrowingbrandisE.ON,followinganimpressive59%brandvalueincreasetoUS$4.7billion,simultaneouslyjumpingfivespotsintherankingto7thposition.Celebratingits20thbirthdaylastyear,theGermanutilitiesgianthasbenefittedfromacombinationoforganicandinorganicgrowth.Theresilienceofthefirm’sbusinessmodelinthefaceofCOVID-19,combinedwithitsadaptabilityandmovetowardsrenewableenergy,hasplayedaroleinE.ON’schart-toppinggrowth.TheresultsofaninternalrestructuringandthesuccessfulincorporationofGermanenergycompany,Innogy,havealsoplayedasubstantialroleinboostingitsbrandvalue.

Sweden’sVattenfallisthesecondfastestgrowingbrandthisyear,recordinga36%brandvaluegrowthtoUS$2.7billionandclimbingfrom30thto14thposition.Despiteprofitstakingahitasaresultofthepandemic,Vattenfall

BrandValueChange2020-2021(%)

-29.1%

59.3%

-22.2%

35.6%

-19.2%

23.2%

-18.4%

22.4%

-18.3%

16.2%

2021:$9,379m

-15.3%

2020:$11,079m

4

04

2021:$9,278m

+1.7%

2020:$9,126m

5

05

2021:$6,036m

-19.2%

2020:$7,469m

6

06

2021:$5,148m

+7.5%

2020:$4,788m

7

212

2021:$4,735m

+59.3%

2020:$2,973m

8

210

2021:$3,404m

-9.4%

2020:$3,759m

Chinesebrandsdominate

AsidefromStateGrid,afurtherfiveChinesebrandsfeature

intheBrandFinanceUtilities502021ranking:CGN(brand

valuedown2%toUS$2.9billion);GDPowerDevelopment

(down7%toUS$2.6billion);DatangPower(down3%

toUS$1.8billion);ENN(down18%toUS$1.7billion);and

ChinaYangtzePower(up12%toUS$1.1billion).

-17.0%

15.3%

2021

-16.3%

12.1%

Plc

-15.3%

11.0%

Finance

-14.7%

7.5%

Brand

-14.4%

7.0%

©

909

2021:$3,287m

-16.3%

2020:$3,925m

10

214

2021:$3,221m

+11.0%

2020:$2,903m

©BrandFinancePlc2021

12 BrandFinanceUtilities50 April2021 /utilities BrandFinanceUtilities50 April202113

BrandValue&BrandStrengthAnalysis.

Top5StrongestBrands

hasshownimpressiveresiliencegiventhereductionin

powergenerationandlowersalesofelectricity,gas,and

1

01

heat.Thebrandhascontinuedtofocusonitsinvestment

projects,expansion,andpartnerships,whichinclude

offshorewindinvestmentprojectsandtheopeningofthe

2021:86.4

AAA

-1.0

largestonshorewindfarmintheNetherlands.

2020:87.4

AAA

BrandValue&BrandStrengthAnalysis.

©BrandFinancePlc2021

2

23

2021:84.9

AAA

+2.4

2020:82.5

AAA-

3

26

2021:80.6

AAA-

+0.3

2020:80.3

AAA-

4

04

2021:80.4

AAA-

-1.4

2020:81.8AAA-

5

12

2021:79.9

AAA-

-2.8

2020:82.7

AAA-

KEPCOissector’sstrongest

Inadditiontomeasuringoverallbrandvalue,BrandFinancealsoevaluatestherelativestrengthofbrands,basedonfactorssuchasmarketinginvestment,customerfamiliarity,staffsatisfaction,andcorporatereputation.Accordingtothesecriteria,KEPCO(down19%toUS$6.0billion)isonceagaintheworld’sstrongestutilitiesbrand,withaBrandStrengthIndex(BSI)scoreof86.4outof100andacorrespondingAAAbrandstrengthrating.

KEPCOliesattheheartoftheSouthKoreangovernment’sGreenNewDeal,whichcommitsthenationtofocusonrenewableenergyandinfrastructure,aswellastheimplementationofcirculareconomyinitiatives,includingreducingandrecyclingenergy.

TheSouthKoreanmajoritystate-ownedutilityhascausedsomecontroversyrecentlyafterbeingforcedtoreverseitsdecisiontosupportandfundoverseascoalprojects–eitherbywithdrawingcompletelyorconvertingtheplantstoliquifiednaturalgasplants–followingglobalprotests.

BrandValuebyCountry

©AFP

14 BrandFinanceUtilities50 April2021

©BrandFinancePlc2021

/utilities

Brand

%of

Numberof

Value

Country

(USDbn)

total

Brands

●

China

65.3

35.6%

6

●

UnitedStates

34.8

19.0%

20

●

France

23.2

12.7%

4

●

Italy

11.9

6.5%

1

●

Spain

9.9

5.4%

3

●

Japan

9.2

5.0%

5

●

Other

29.2

15.9%

11

Total

183.6

100.0%

50

BrandFinanceUtilities50 April202115

BrandFinance

Utilities50(USDm).

Top50mostvaluableutilitiesbrands

2021

Brand

2020

2021

2020

2021

2020

Brand

Value

Brand

Brand

Brand

Rank

Rank

Brand

Country

Value

Change

Value

Rating

Rating

1

1

0

StateGrid

China

$55,203

-3.1%

$56,965

AAA-

AAA-

2

2

0

Enel

Italy

$11,899

+0.8%

$11,799

AA+

AA+

3

3

0

Engie

France

$9,379

-15.3%

$11,079

AA

AA

4

4

0

EDF

France

$9,278

+1.7%

$9,126

AA+

AA+

5

5

0

KEPCO

SouthKorea

$6,036

-19.2%

$7,469

AAA

AAA

6

6

0

Iberdrola

Spain

$5,148

+7.5%

$4,788

AA+

AA+

7

12

2

E.ON

Germany

$4,735

+59.3%

$2,973

AA-

AA-

8

10

2

Exelon

UnitedStates

$3,404

-9.4%

$3,759

AA

AA

9

9

0

DUKEENERGY

UnitedStates

$3,287

-16.3%

$3,925

AA+

AAA-

10

14

2

Veolia

France

$3,221

+11.0%

$2,903

A+

A

11

8

1

Uniper

Germany

12

11

1

TEPCO

Japan

13

13

0

CGN

China

14

30

2

Vattenfall

Sweden

15

15

0

EDP

Portugal

16

17

2

TenagaNasional

Malaysia

17

16

1

GDPowerDevelopment

China

18

22

2

Naturgy

Spain

19

18

1

Endesa

Spain

20

25

2

PG&E

UnitedStates

21

19

1

WasteManagement

UnitedStates

22

23

2

KOGAS

SouthKorea

23

21

1

DOMINION

UnitedStates

24

28

2

Chubu

Japan

25

27

2

FloridaPower&Light

UnitedStates

26

32

2

DatangPower

China

27

29

2

PSEG

UnitedStates

28

26

1

ENN

China

29

37

2

conEdison

UnitedStates

30

31

2

DTEEnergy

UnitedStates

31

24

1

Kansai

Japan

32

46

2

NationalGrid

UnitedKingdom

33

36

2

EdisonInternational

UnitedStates

34

34

0

XcelEnergy

UnitedStates

35

35

0

EversourceEnergy

UnitedStates

36

49

2

Calpine

UnitedStates

37

38

2

WECEnergyGroup

UnitedStates

38

-

3

Enedis

France

39

48

2

KyushuElectricPower

Japan

40

41

2

EnBW

Germany

41

42

2

FirstEnergy

UnitedStates

42

39

1

Ørsted

Denmark

43

44

2

Entergy

UnitedStates

44

45

2

ppl

UnitedStates

45

40

1

TohokuElectricPower

Japan

46

-

3

NEXTeraENERGY

UnitedStates

47

47

0

RepublicServices

UnitedStates

48

50

2

nrg

UnitedStates

49

-

3

ChinaYangtzePower

China

50

-

3

Fortis

Canada

16 BrandFinanceUtilities50 April2021 /utilities BrandFinanceUtilities50 April202117

SectorReputationAnalysis.

SectorReputationAnalysis.

Benchmarkingagainsttheverybest

BrandFinance’sbrandevaluationsaredesignedtofacilitatebroadercomparisonswithbrandsacrossmarkets,andbothwithinandacrossindustries.

Thisprovidesamoreroundedassessmentofbrandstrength,withbenchmarkingagainsttheverybest.

Thisperspectiveisparticularlyimportantasbrandcategoriesconverge,withnewtechnologiesenablingdisruptionandbrandsseekingtacticalentryintoneighbouringcategories.Brandswithastrongreputationalsohavelicensingopportunitiesinnewsectors.

Thisyear’sglobalsectorreputationrankingsfromourB2Cresearchincludedasignificantlylargernumberofproductcategories,withscoresforover2,500brands.

Reputationontheup

Overall,reputationscoresareslightlyhigherin

2021acrosssectorscoveredboththisyearandlast.Inpart,thisreversesasmalldipfrom2020,buttheimpactofCOVID-19cannotbediscounted.Inachallengingyear,consumershaverelieduponandtestedbrandsindifferentways,andthebestbrandshavestoodupwelltothechallenge,keepingkitchensandwardrobesstocked,connectionsrunning,andessentialservicesavailable.

Supermarkets,restaurants,andapparelshine

Inmanycountries,beingabletoobtainbasicgroceriesbecameachallengeforthefirsttimeindecades,asshoppingwasrestrictedanddemandforonlinedeliveryslotssurged.Butbyandlarge,supermarketshaverespondedwell,andconsumershavenotedthis.Theaveragereputationscoreinthesectorincreasedsignificantlyyear-on-year,andbrandssuchasAldi,Lidl,andMigroshaveimprovedalready-strongreputations.

Asimilardynamichashelpedrestaurantstoalesserdegree,ensuringthatbrandsinthissectormaintainapositivereputationoverall,despitereducedlevelsofin-storeexperiences.Apparelbrandshavealsoseeminglybenefitedfromthisdynamic,astheshifttoonlineshoppingaccelerates.

SectorsRankedbyReputation

1=

lCosmetics

7.6/10

1=

oFood

7.6/10

3

MAppliances

7.5/10

4=

rHotels

7.4/10

4=

DRetail

7.4/10

6=

dApparel

7.3/10

6=

hBeers

7.3/10

8=

NSupermarkets7.2/10

8=

APharma

7.2/10

8=

zOil&Gas

7.2/10

8=

CRestaurants

7.2/10

12=

fAuto

7.1/10

12=

wLogistics

7.1/10

12=

GTech

7.1/10

15

BRealEstate

6.9/10

16

bAirlines

6.8/10

17

tInsurance

6.6/10

18

LUtilities

6.5/10

19=

HTelecoms

6.3/10

19=

gBanking

6.3/10

FMCGbrandshaveoutstandingreputation

Majorcosmeticsandfoodbrandshavethehighestreputations,onaverage,areminderoftheenduringvalueofastrongbrand–someofthetopperformersareoveracenturyold.ThepositivereputationsofglobalgiantssuchasJohnson’s,Dove,Danone,and(insomemarkets)Nestléhavebeennurturedandrefreshedoverlongperiods.Localfavourites,suchasBimbo(Mexico)andAmul(India),showthattheycanmatchtheirglobalcounterparts.

Theslightcloudforthefoodsectoristhemore‘average’reputationthatsomeofthebigbrandshaveinanumberofdevelopedmarkets,suchastheUK.Here,supermarketshaveperhapssqueezedthebigfoodbrandssomewhat.

Techadmired,butnotuniversally

Theoverallrankingofthetechsectorfellslightly,andwhilethebiggestbrandssuchasYouTube,Google,andApplecontinuetoenjoystrongreputations,notallconsumersareinlovewiththesebrands.Amazon,forexample,rankshighinsomemarkets(#1inthesectorintheUSA,#3

inSpain),butpolarisesinsomemarkets(e.g.Sweden,France).Similarly,themixedreputationofbrandssuchasFacebookshowsnosignofsignificantimprovement.Manyconsumersmaysupporttheincreasingregulationoftechgiants,anditmightalsobethecasethatthereisroomforanupstartchallengerwiththerightinnovation,afreshapproachandperhapsacleanslate.

Banksandtelecomsstruggletoimprovetheirstanding

Bankingandtelecomsbrandsranklowestofallinmanymarketsforreputationandtrust,andlastyearsawlittleimprovement,thoughbanksdidatleastpulllevelwithtelecoms.Aswithothersectors,manybrandshavearguablyservedcustomerswellindifficulttimes(withconnectivityevenmorevitalinthecaseoftelecoms),butthishasnothelpederodedistrustappreciably.FrustratedCMOsmayfeelthattheirbrandscontinuetobetakenforgranted–unfortunatelyforthem,‘businessasusual’meanstreadingwaterintermsofreputation.Across2,500brands,sevenofthetenlowest-rankedforreputationarebanks,themostprominentbeingDeutscheBankinitshomecountry.

18 BrandFinanceUtilities50 April2021 /utilities BrandFinanceUtilities50 April202119

Methodology.

Definitions.

BrandValue

BrandValuationMethodology.

DefinitionofBrand 1 BrandImpact

E

nt

er

p

ri

s

e

V

a

l

u

e

Br

a

n

d

e

d

B

u

s

i

n

e

s

s

B

V

l

r

a

a

n

u

d

C

e

o

n

t

r

i

b

u

t

i

o

n

Brand

Value

EnterpriseValue

Thevalueoftheentireenterprise,madeupofmultiplebrandedbusinesses.

[Enel]

Whereacompanyhasapurelymono-

brandedarchitecture,the‘enterprisevalue’

isthesameas‘brandedbusinessvalue’.

+BrandedBusinessValue

Thevalueofasinglebrandedbusinessoperatingunderthesubjectbrand.

[Endesa] Abrandshouldbeviewedinthecontext

ofthebusinessinwhichitoperates.

BrandFinancealwaysconductsabranded

businessvaluationaspartofanybrand

valuation.Weevaluatethefullbrandvalue

chaininordertounderstandthelinks

betweenmarketinginvestment,brand-

trackingdata,andstakeholderbehaviour.

+BrandContribution

Theoverallupliftinshareholdervalue

thatthebusinessderivesfromowning

[Endesa]

thebrandratherthanoperating

agenericbrand.

Thebrandvaluescontainedinourleague

tablesarethoseofthepotentially

transferablebrandassetsonly,making

‘brandcontribution’awiderconcept.

Anassessmentofoverall‘brandcontribution’

toabusinessprovidesadditionalinsights

tohelpoptimiseperformance.

+BrandValue

Thevalueofthetrademark

andassociatedmarketingIPwithin

thebrandedbusiness.

[Endesa]

BrandFinancehelpedtocraftthe

internationallyrecognisedstandardon

BrandValuation–ISO10668.Itdefines

brandasamarketing-relatedintangible

assetincluding,butnotlimitedto,names,

terms,signs,symbols,logos,anddesigns,

intendedtoidentifygoods,services

orentities,creatingdistinctiveimages

andassociationsinthemindsofstakeholders,

therebygeneratingeconomicbenefits.

Brandisdefinedasamarketing-relatedintangibleassetincluding,butnotlimitedto,names,terms,signs,symbols,logos,anddesigns,intended

toidentifygoods,services,orentities,creatingdistinctiveimagesandassociationsinthemindsofstakeholders,therebygeneratingeconomicbenefits.

BrandValue

Brandvaluereferstothepresentvalueofearningsspecificallyrelatedtobrandreputation.Organisationsownandcontroltheseearningsbyowningtrademarkrights.

Allbrandvaluationmethodologiesareessentiallytryingtoidentifythis,althoughtheapproachandassumptionsdiffer.Asaresultpublishedbrandvaluescanbedifferent.

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