品牌价值-挪威最具价值和最强大品牌25强的2024年度报告（英）-2024-WN8

Norway252024TheannualreportonthemostvaluableandstrongestNorwegianbrandsAugust2024ContentsAboutBrandFinance34ForewordDavidHaigh,Chairman&CEO,BrandFinanceRankingAnalysisBrandValueRanking(NOKm)Insights71516NewEntrantsandRisingStars:TheFutureofNorway’sBrandLandscape17CristobalPohleVazquez,RegionalManagerofScandinavia,BrandFinanceMethodologyOurServices2026©2024Allrightsreserved.BrandFinancePlc.BrandFinanceNorway25/norwayꢀ2BridgingthegapbetweenMarketingandFinanceAboutBrandFinanceBrandFinancewassetupin1996withtheaimof'bridgingthegapbetweenmarketingandfinance'.Formorethan25years,wehavehelpedcompaniesandorganisationsofalltypestoconnecttheirbrandstothebottomline.QuantifyingthefinancialvalueofbrandsWeputthousandsoftheworld’sbiggestbrandstothetesteveryyear.Rankingbrandsacrossallsectorsandcountries,wepublishover100reportsannually.Theworld'sleadingbrandvaluationUniquecombinationofexpertiseOurteamshaveexperienceacrossawiderangeofdisciplinesfrommarketingandmarketresearch,tobrandstrategyandvisualidentity,totaxandaccounting.consultancyPridingourselvesontechnicalcredibilityForbusinessenquiries,pleasecontact:RichardHaighManagingDirectorrd.haigh@BrandFinance,acharteredaccountancyfirmregulatedbytheInstituteofCharteredAccountantsinEnglandandWales,isthefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil.Ourexpertscraftedstandards(ISO10668andISO20671)andourmethodology,certifiedbyAustrianStandards,isofficiallyapprovedbytheMarketingAccountabilityFormediaenquiries,pleasecontact:PennyErrickerGlobalPressEnquiresp.erricker@Forallotherenquiries:enquiries@brandfi+442073899400www.brandfiStandardsBoard.ForewordBrandvaluationhelpscompaniesunderstandthevalueoftheirbrandandhowitcontributestotheoverallvalueofthecompany.Thisimportantunderstandingcaninformdecision-makingrelatedtomarketingandbrandingefforts,aswellasprovideabenchmarkforfutureperformance.Itcanalsobeusedtohelpattractinvestorsandsecurefinancing,asastrongbrandcanbeavaluableasset.Additionally,brandvaluationcanbeusefulintheeventofamergeroracquisition,asitcanhelpdeterminethevalueofthebrandbeingacquired.Overall,brandvaluationhelpsorganisationsunderstandtheworthoftheirbrandandhowitfitsintotheiroverallbusinessstrategy.Astrongbrandcanleadtoimprovedbusinessreturnsinseveralways.First,astrongbrandcanhelpacompanydifferentiateitselffromitscompetitorsandestablishauniqueidentityinthemarket,whichcanleadtoincreasedcustomerloyaltyandretention.This,inturn,canleadtohighersalesandrevenue.Astrongbrandcanalsohelpacompanycommandahigherpriceforitsproductsorservices,asconsumersarewillingtopaymoreforabrandtheyperceiveashigh-qualityandtrustworthy.DavidHaighChairman&CEO,BrandFinanceInaddition,astrongbrandcanhelpacompanyattracttoptalent,asemployeesmaybemoreattractedtoworkforawell-knownandreputablebrand.Finally,astrongbrandcanprovideacompanywithacompetitiveadvantageandhelpitweathereconomicdownturnsorindustrydisruptions.Thisyear,BrandFinancehasinvestedmoreinresearchingandunderstandingcustomerperceptionofbrandsacrosstheworldthaneverbefore,withoriginalresearchtakingplaceindozensofjurisdictionsglobally.Thereportyouarereadingisbasedonthisextensiveoriginalresearch,withthefindingsrepresentingacatalystforfurtherconversations.Ifyouwanttohelpbuildastrongerbrand,orifyouwanttobetterunderstandthevalueofyourbrand,pleasecontacttheBrandFinanceteamandIanytime.Ilookforwardtotheconversationandhelpingtobuildamoreprofitablefutureforyourbrand.BrandFinanceNorway25/norwayꢀ4GainInsightLeveragestrategicinsightstoenhanceyourbrand'sfinancialstanding.RequestStrategicGuidanceyourownBrandValueReportStrategiseeffectivelytopositionyourbrandasamarketleader.BenchmarkYourPerformanceBenchmarkyourbrandagainstindustrystandardsforacompetitiveedgeinthecorporatelandscape.BrandFinance'sBrandValueReportprovidesacompletebreakdownoftheassumptions,datasources,andcalculationsusedtodetermineyourbrand’svalue,aswellasbrandequityresearch.EmpowerYourMarketingTeamEmpoweryourmarketingteamwithcomprehensiveknowledgeaboutyourbrand'sfinancialvalue.EnhanceCommunicationEachreportincludesexpertrecommendationsforgrowingbrandvalue,drivingperformance,andgaininginsightsintoyourpositionagainstpeers.Optimisecommunicationchannelsbyunderstandingandarticulatingyourbrand'sfinancialsignificance.DeepenUnderstandingDeepenyourfinancialacumenandmakewell-informeddecisionsforcorporatesuccess.enquiries@brandfi+6,000brandsOriginalmarketresearchonglobal,marketandsectorleadingbrands.GetFullAccesstoourGlobalData41countriesComprehensivecoverageformarketspecificlearningsthatinformdecisionmaking.31sectorsBenchmarkyourbrandagainstcompetitorsandleverageindustrylevelinsightstoempoweryourstrategy.BrandFinance'sGlobalBrandEquityMonitorresearchutilisesacomprehensiveframeworktotrackandmeasurethecorebuildingblocksthatunderpinstrongbrands,whiledeliveringnuancedinsightsthatdirectstrategyforunderstanding,maintainingandbuildingbrandstrength.+150,000respondentsRobustmarketrepresentationforaglobalperspective.8thconsecutiveyearTakealongerviewtotrackandlearnfromfastgrowingbrands,marketdisrupters,andmarketleaders.Brands,andcustomerrelationshipwithbrands,arecomplex.Assuchtheyrequireattention,directionandmeasuredsupportifthey’retofulfiltheirpotential.Ourbrandequityreportsdeliverexpertinsightandrecommendationstopoweryourbrandstrategiesandvaluation.StrategicInsightUnderstandyourbrandsstandinginthemarket,whatit’sknownforrelativetothecompetition,andwhatdrivescustomerdecisionmakingsoyoucancreatearoadmapforsuccess.enquiries@brandfiRankingAnalysisNorway’smostvaluablebrandsridethewaveofnation’simprovingeconomy+

Oil&GasbrandsunderscoreNorway’sfossilfuelwealth,emergingasnation’stoptwofastest-growingbrands+

EquinorremainsNorway’smostvaluablebrandandnewentrantStatkraftdebutsinthirdposition+

DynamismamongNorway’stoptenstrongestbrands,withKLP,SalMar,andLerøySeafoodrisingthroughtheranks+

EquinorhasthehighestSustainabilityPerceptionsValueatNOK16.2billionRankingAnalysisAsNorway’slargestexportandasignificantcontributortoitseconomy,thenation’soilandgassectorcontinuestobolsteritsbrandpresenceontheglobalstage.WithVårEnergi’sbrandvaluesoaring82%andEquinor’svalueincreasing37%,thesebrandsaresettingnewbenchmarksforgrowth,underscoringNorwegianbrands’strategicpositionintheglobalenergymarketandtheNorwegianeconomy'supwardgrowthtrajectory.Oil&GasbrandsunderscoreNorway’sfossilfuelwealth,emergingasnation’stoptwofastest-growingbrandsAsthefourthlargestexporterofnaturalgasglobally,threeofNorway’stop15brandshailfromtheoilandgassector:Equinor(brandvalueNOK178.7billion),AkerBP(brandvalueNOK28.1billion),andVårEnergi(brandvalueNOK7billion).VårEnergihasnearlydoubleditsbrandvalue,up82%.Thisrisehaspropelledtheoilandgasbrandupsevenpositionsto15thamongNorway’smostvaluablebrands.Thissurgeisduetoincreasedpetroleumrevenues,drivenlargelybyhigheroilandgasprices.Equinor,Norway’ssecond-fastestgrowingbrand,hasseena37%increaseinbrandvalue.Thisgrowthstemsfromrisingrevenuesandoptimisticforecasts,reflectingthebrand’shigherproductiongrowththroughout2023.Lookingahead,withtheNorwegianeconomy’soutlookincreasinglyoptimistic,it’spossiblethatNorwegianoilandgasbrandscapableofweatheringshort-termsectorfluctuationswillcontinuetoriseinbrandvalue.Additionally,withthestartofPhase2productionoftheJohanSverdrupfield–thethirdlargestoilfieldontheNorwegiancontinentalshelf–Norway’sliquidoilproductionissettokeeprising,withthefieldalreadycontributingaboutone-thirdofthenation’stotaloilproduction.CristobalPohleVazquezRegionalManagerofScandinavia,BrandFinanceBrandFinanceNorway25/norwayꢀ9RankingAnalysisTop10MostValuableNorwegianBrands2024©BrandFinancePlc.20241020334151NOK179bn+37%NOK35bn-22%NOK33bn-NOK33bn+1%NOK28bn0%zoHtLtgjz61718090102NOK15bn-16%NOK15bn+10%NOK11bn+16%NOK10bn+10%NOK9bn+23%EquinorremainsNorway’smostvaluablebrandandnewentrantStatkraftdebutsinthirdpositionEquinorhasretaineditspositionasNorway’smostvaluablebrand,withabrandvalueofNOK178.7billionfollowinga37%increase.ThisleapalsomakesEquinorNorway’ssecondfastest-growingbrand,anditsbrandvaluestandsatmorethanfivetimesthanthatoftherunner-up,Telenor(brandvaluedown22%toNOK34.7billion).EquinoralsoremainsNorway’ssecondstrongestbrandwithaBrandStrengthIndex(BSI)scoreof77.9outof100.BrandFinancedatarevealsthatEquinorachievedhighscoresforperceptionsofitsproducts(includinginnovationandquality)andpromotionofitsbrandviawordofmouth,contributingtoitsbrandstrength.Makingitsdebut,Statkrafthasenteredtherankinginthirdposition,withabrandvalueofNOK33.1billion.ThisbrandvalueresultsfromStatkraft’srecordrevenues,drivenbyincreasedpricesandsuccessfulenergymanagementduringthewarinUkraine.Intermsofbrandstrength,StatkraftranksasNorway’ssixthstrongestbrand,BrandFinanceNorway25/norwayꢀ10RankingAnalysiswithadebutBSIscoreof71.1outof100andanAArating.BrandFinancedataindicatesthatStatkraftreceivedhighscoresforperceptionsofitsenvironmentalsustainabilityandgovernance,underscoredbyitspositionasEurope’slargestgeneratorofrenewableenergy.Despitea1%increaseinbrandvaluetoNOK32.6billion,DNBhasdroppedtofourthpositionintheNorway502024ranking.TheNorwegianbankhasfaceddecliningbrandperceptionsfollowingitsacquisitionofSbanken.Somecustomerstriedtoleave,andotherslostaccesstotheirstocksavingsaccounts,leadingtocompensationpaymentsfromDNB.ThisisunderscoredbyBrandFinancedata,showingthatDNBscoredrelativelylowacrossbrandstrengthmetricssuchasreputation(<5.5outof10)andvalueformoney(<3.5outof10).BrandValueChange2023-2024(%)©BrandFinancePlc.202482%37%31%23%21%19%16%16%16%14%BrandFinanceNorway25/norwayꢀ11RankingAnalysisTop10StrongestNorwegianBrands2024©BrandFinancePlc.2024102032425185.8+4.177.9-2.772.4-0.671.8+4.271.3-2.7tLzgtoooHb6371829210171.1-70.4-3.870.1+4.467.7+0.367.7-2.0DynamismamongNorway’stoptenstrongestbrands,withKLP,SalMar,andLerøySeafoodrisingthroughtheranksForthesecondconsecutiveyear,insurancebrandGjensidige(brandvalueup16%toNOK11.3billion)hasmaintaineditspositionasNorway’sstrongestbrand.In2024,Gjensidige’sBSIscoreimprovedbyoverfourpointsto85.8outof100,earninganAAArating.AccordingtoGjensidige,itsongoingstrategyfocusesoncustomersatisfactionandretention,aimingforambitioustargetsby2026.ThisapproachishighlightedbyBrandFinancedata,whichfindsthatGjensidigerecordedtopscoresforfamiliarityandconsideration,aswellashighscoresforreputationandloyalty.KLP(brandvalueup10%toNOK14.5billion)hasrisentwopositionstobecomeNorway’sthirdstrongestbrand.KLP’sBSIis72.4outof100withanAArating.Thebrandalsoearnedatopscoreforconsideration,andhighscoresforseveralbrandstrengthmetricsincludingvalueformoneyandrecommendation.BrandFinanceNorway25/norwayꢀ12RankingAnalysisFoodbrandsSalMar(brandvalueup31%toNOK4.1billion)andLerøySeafood(brandvalueNOK14.8billion)havealsoemergedascontendersinthebrandstrengthranking,rankedfourthandeighthrespectively.byhigherharvestedvolumesandsuccessfulbusinessintegrations,includingamergerwithitsNTSASbusinessandtheacquisitionofNorwayRoyalSalmon.Additionally,NorwegianAir(brandvalueup10%toNOK3.5billion),remainsamongNorway’stop10strongestbrands.Despitefacingatrademarkdisputeoverthe“Norwegian”namewithBankNorwegian,thebrandproactivelyhandledthedisputethroughsettlement,mitigatinganynegativeimpacttoitsbrandvalue.ThisapproachhasreinforcedNorwegianAir’spositionintherankinganditsriseinbrandvalue.AccordingtoBrandFinancedata,bothbrandsearnedtopscoresforproducts,andtheirabilitytocommandapricepremium.Thesebrands’performancesunderscoretheprominenceoffishproductionasakeyNorwegianmarket,knownforitshighqualityandstrongglobaldemand.Notably,SalMarhasalsobecomeNorway’sthirdfastest-growingbrand,drivenBrandFinanceNorway25/norwayꢀ13RankingAnalysisTop10NorwegianBrandsbySustainabilityPerceptionsValue©BrandFinancePlc.20241h

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45ANOK16,151mE:1.02S:1.07G:1.07NOK3,573mE:1.08S:1.04G:1.02NOK2,708mE:0.99S:0.98G:1.02NOK2,572mE:1.07S:1.07G:1.06NOK2,165mE:0.98S:0.99G:0.96678910HkgDNNOK973mE:1.10S:1.09G:1.16NOK831mE:1.09S:1.06G:1.07NOK805mE:1.03S:1.00G:1.00NOK702mE:1.02S:1.04G:1.01NOK634mE:0.99S:1.10G:1.09NOKxx=SustainabilityPerceptionsValuex.x=SustainabilityPerceptionsScore/SectorMedianEquinorhasthehighestSustainabilityPerceptionsValueatNOK16.2billionwithcaution.Inasectorwheretheenvironmentalimpactofoperationscontinuestobesignificant,andwhereadvertisingregulatorsandcampaigningorganisationsapplyahighlevelofscrutiny,sustainabilitycommunicationandreputationbuildingmustbecarefulandmoderatetoavoidaccusationsofgreenwashingandarisktovalue.BrandFinancealsoutilisesitsGlobalBrandEquityMonitor(GBEM)researchtocompileitsSustainabilityPerceptionsIndex.Thestudydeterminestheroleofsustainabilityindrivingconsumerchoice,whichbrandsconsumersbelievetobemostcommittedtosustainability,theproportionofbrandvalueattributabletosustainabilityperceptions,andthevalueatriskortobegained,basedonthedifferencebetweensustainabilityperceptionsandactualperformance.AtNOK16.2billion,EquinorhasthehighestSustainabilityPerceptionsValue(SPV)amongstNorwegianbrands.BrandFinanceresearchshowsthatsustainabilityplaysaconsiderableroleindrivingcustomerconsiderationwithintheoilandgassector,at8.6%.Withinthesector,Equinorhasthestrongestreputationforsustainabilitycommitment.TheformerStatoilwasrebrandedin2018toEquinortosignalcommitmenttorenewables.Thestrategyappearstobehavingthedesiredeffectonthebrand,butEquinor,likealloilcompanies,mustproceedBrandFinanceNorway25/norwayꢀ14BrandValueRanking(NOKm)Top25mostvaluableNorwegianbrands1-252024BrandValueBrandValueChange2023BrandValue2024BrandRating2023BrandRating20242023RankRankBrandSector11EquinorOil&GasTelecomsUtilities178,67034,67933,08332,64128,06014,80014,54611,2939,546+37.1%-22.0%-130,34244,468-AA+AAAAAAAA-AAAAAAAAA-AAAA-AA-003111100211012022111121222Telenor3-StatkraftDNB43Banking+0.9%-0.5%32,36028,19217,66813,2129,7688,6737,532AAAA-AA-AAAAA-AAA54AkerBPOil&GasFood65LerøySeafoodKLP-16.2%+10.1%+15.6%+10.1%+23.0%76InsuranceInsuranceChemicalsPaints88GjensidigeYara9910111213141516171819202122232425121011137Jotun9,265SparebankGroupRema1000HydroBankingRetailMining,Iron&SteelLogisticsOil&GasFoodASKO2216181914172021252327VårEnergiMOWIKongsbergWalleniusWilhelmsenKIWIAerospace&DefenceLogisticsRetailAFGRUPPENElkjøpEngineeringRetailVeidekkeSalMarEngineeringFoodNorwegianAirTOMRAAirlinesCommercialServicesBrandFinanceNorway25/norwayꢀ15InsightsNewEntrantsandRisingStars:TheFutureofNorway’sBrandLandscape2024hasbeenayearofsignificantmovementandinnovationintheNorwegianbrandlandscape,markedbyremarkableentries,strategicexpansions,andimpressivebrandstrengthsurges.Assustainabilitybecomesacrucialdifferentiator,Norwegiancompaniesareleadingthechargewithsubstantialinvestmentsinrenewableenergy,digitaltransformation,andglobalmarketexpansions.Thisyear'sBrandFinanceNorway25rankinghighlightsthesetrendsthroughthestoriesofkeyplayerslikeStatkraft,Equinor,andSalMar,eachexemplifyingthestrategiesandchallengesshapingthefutureofNorwegianbrands.Statkraft'sImpressiveEntryStatkraftdebutsintoBrandFinance’sNorwayrankinginthirdpositionwithabrandvalueofNOK33.1billion.Theranking’snewentrantreflectsarobustperformanceintheutilitiessector–accordingtotheirearningsreport,Statkraftdeliveredtheirsecond-highestannualresultinthecompany’shistory,withnetoperatingrevenuesofNOK65.3billion.Statkraft’sstrategicgrowthandasteadfastcommitmenttorenewableenergypositionsthemforlongtermbrandvaluegrowth,asthecompanyhasalsoannouncedplanstoinvestuptoNOK67billionincapacityupgradesandnewprojects.AsNorway'slargestpowergeneratorandEurope'sleadingproducerofrenewableenergy,Statkrafthassignificantlyincreaseditshydropowercapacitythroughnewplantopeningsandexpandeditswindandsolarenergyprojectsinternationally.CristobalPohleVazquezRegionalManagerofScandinavia,BrandFinanceThey’realsorealisingtheirsustainabilityperceptionsvaluethroughmarketingcampaignsthathaveeffectivelypromotedtheirgreenenergycredentials,earningthebrandhighscoresforenvironmentalsustainabilityandgovernance.WithadebutBrandStrengthIndex(BSI)scoreof71.1outof100andanAArating,StatkraftranksasNorway’ssixthstrongestbrand,underscoringitsimpressiveentryandnotableinfluenceintheenergysector.BrandFinanceNorway25/norwayꢀ17NewEntrantsandRisingStars|TheFutureofNorway’sBrandLandscapeEquinor’sStrategicExpansionAmidstChallengesoperateswithin.Despitethesechallenges,EquinorremainsNorway’ssecondstrongestbrandwithaBSIscoreof77.9outof100.BrandFinanceGlobalBrandEquityMonitor(GBEM)datarevealsthatEquinorachievedhighscoresforperceptionsofitsproductsandpromotionalactivities,EquinorstandsoutasakeyplayerintheNorwegianenergysector,showcasinganaggressiveexpansionintorenewableenergywhilenavigatingsignificantchallenges.Knownforitsambitiousinitiatives,Equinorhaslaunchedtheworld’slargestoffshorewindfarmproject,DoggerBank,withclearmilestonesfor2030.contributingsignificantlytoitsbrandstrength.Additionally,EquinorholdsthehighestSustainabilityPerceptionsValue(SPV)inNorway,atNOK16.2billion.BrandFinancedataindicatesthatsustainabilityperceptionsdriveconsumerchoicewithintheoilandgassector,where8.6%ofcustomerconsiderationisinfluencedbysustainability.Theirinvestmentinpioneeringcarboncaptureandstoragetechnologies,alongwithcollaborationswithindustryleaderstoadvancehydrogenenergysolutions,underscorestheircommitmenttosustainableenergy.Maintainingitstopposition,Equinorhasseensubstantialbrandvaluegrowth,reflectingsignificantimprovementsinrenewableenergyinitiatives.GiventhesignificantroleofsustainabilityperceptionsinEquinor’sbrandvalue,thebrandmuststrikeanintricatebalanceofcontinuedgrowthwhilstminimisingtheenvironmentalimpactofitsoperations,appeasingitskeyshareholders(GovernmentofNorway,Folketrygdfondet,andTheVanguardGroup,Inc.),andnavigatingthescrutinyofadvertisingregulators,thepublic,andenvironmentalgroupstosustainitsspotasNorway’smostvaluablebrand.However,Equinorhasfaceditsshareofcriticismoverenvironmentalconcerns,whichhavedelayedoffshorewindprojectsandpresentedoperationalsetbacksleadingtolower-than-expectedproduction,highlightingthecomplexlandscapethebrandBrandFinanceNorway25/norwayꢀ18NewEntrantsandRisingStars|TheFutureofNorway’sBrandLandscapeSalMar’sSustainableSurgetoNOK4.1billion,makingitthethirdfastest-growingbrandinNorway.ThisgrowthismirroredintheirBSIscore,whichrosefrom67.6to71.8,climbinganimpressiveeightpositionstosecurefourthplaceintheBrandStrengthIndexRanking,highlightingitsrobustperformanceandmarketinfluence.SalMar,thesecondlargestfarmerofAtlanticsalmonglobally,hasintroducedoffshorefishfarmingtechnologytoreduceitsenvironmentalimpact.Thisstrategicmove,coupledwithcertificationsfromtheAquacultureStewardshipCouncilandBritishRetailConsortiumGlobalStandardsforresponsibleseafoodproduction,underscorestheircommitmenttosustainability.Despitetheseadvancements,SalMarfacesindustrychallenges,includingincreasingfishmortalityandeffortstoreducefeedconversionratios.However,theircommitmenttothe1.5°CtargetfromtheScienceBasedTargetsinitiative,verifiedbytheCarbonDisclosureProject,demonstratestheiralignmenttoglobalclimategoals.SalMar'scollaborativeeffortswithglobalretailershaveenhancedthebrand'sreputation,forinstance,thelaunchofthe"LivingLab"initiative,anambitiousR&Dprojectaimedatfosteringcollaborationacrosstheaquacultureindustry.SalMar’sstrategicinnovationsandrobustbrandperformanceunderscoretheprominenceoffishproductionasakeyNorwegianmarket,knownforitshighqualityandstrongglobaldemand.Byalsotakingaleadinsustainableaquaculture,SalMar’sinfluenceintheindustryispositionedforfurthergrowth.SalMar’sstrategicpartnershipsandmarketingcampaignshaveeffectivelyunderscoredthebenefitsofsustainableaquaculture,positioningthebrandasanindustryleader.BrandFinancedataindicatesthatSalMar’sbrandvaluehassurgedby31%BrandFinanceNorway25/norwayꢀ19MethodologyDefinitionsBrandValue+EnterpriseValueThevalueoftheentireenterprise,madeupofmultiplebrandedbusinesses.[Meta]Whereacompanyhasapurelymono-brandedarchitecture,the‘enterprisevalue’isthesameas‘brandedbusinessvalue’.+BrandedBusinessValueThevalueofasinglebrandedbusinessoperatingunderthesubjectbrand.[Facebook]Abrandshouldbeviewedinthecontextofthebusinessinwhichitoperates.BrandFinancealwaysconductsabrandedbusinessvaluationaspartofanybrandvaluation.Weevaluatethefullbrandvaluechaininordertounderstandthelinksbetweenmarketinginvestment,brand-trackingdata,andstakeholderbehaviour.BrandValue+BrandContributionTheoverallupliftinshareholdervaluethatthebusinessderivesfromowningthebrandratherthanoperatingagenericbrand.[Facebook]Thebrandvaluescontainedinourleaguetablesarethoseofthepotentiallytransferablebrandassetsonly,making‘brandcontribution’awiderconcept.Anassessmentofoverall‘brandcontribution’toabusinessprovidesadditionalinsightstohelpoptimiseperformance.+BrandValueThevalueofthetrademarkandassociatedmarketingIPwithinthebrandedbusiness.[Facebook]BrandFinancehelpedtocrafttheinternationallyrecognisedstandardonBrandValuation–ISO10668.Itdefinesbrandasamarketing-relatedintangibleassetincluding,butnotlimitedto,names,terms,signs,symbols,logos,anddesigns,intendedtoidentifygoods,servicesorentities,creatingdistinctiveimagesandassociationsinthemindsofstakeholders,therebygeneratingeconomicbenefits.BrandFinanceNorway25/norwayꢀ21BrandValuationMethodologyWhatisBrandValue?Brandvaluereferstothepresentvalueofearningsspecificallyrelatedtobrandreputation.Organisationsownandcontroltheseearningsbyowningtrademarkrights.BrandisdefinedasabundleofAllbrandvaluationmethodologiesareessentiallytryingtoidentifythis,althoughtheapproachandassumptionsdiffer.Asaresultpublishedbrandvaluescanbedifferent.trademarksandassociatedIPwhichcanbeusedtotakeadvantageoftheperceptionsofallstakeholderstoprovideavarietyofeconomicbenefitstotheentity.Thesedifferencesaresimilartothewayequityanalystsprovidebusinessvaluationsthataredifferenttooneanother.Theonlywayyoufindoutthe“real”valueisbylookingatwhatpeoplereallypay.Asaresult,BrandFinancealwaysincorporatesareviewofwhatusersofbrandsactuallypayfortheuseofbrandsintheformofbrandroyaltyagreements,whicharefoundinmoreorlesseverysectorintheworld.Thisissometimesknownasthe“RoyaltyRelief”methodologyandisbyfarthemostwidelyusedapproachforbrandvaluationssinceitisgroundedinreality.Itisthebasisforapublicrankingsbutwealwaysaugmentitwitharealunderstandingofpeople’sperceptionsandtheireffectsondemand–fromourdatabaseofmarketresearchonover6000brandsinover41markets.DisclaimerBrandFinancehasproducedthisstudywithanindependentandunbiasedanalysis.ThevaluesderivedandopinionsproducedinthisstudyarebasedonlyonpubliclyavailableinformationandcertainassumptionsthatBrandFinanceusedwheresuchdatawasdeficientorunclear.BrandFinanceacceptsnoresponsibilityandwillnotbeliableintheeventthatthepubliclyavailableinformationrelieduponissubsequentlyfoundtobeinaccurate.Theopinionsandfinancialanalysisexpressedinthereportarenottobeconstruedasprovidinginvestmentorbusinessadvice.BrandFinancedoesnotintendthereporttoberelieduponforanyreasonandexcludesallliabilitytoanybody,governmentororganisation.BrandFinanceNorway25/norwayꢀ22BrandValuationMethodology1.BrandImpactWereviewwhatbrandsalreadypayinroyalty