品牌價(jià)值-最有價(jià)值和最強(qiáng)大的丹麥品牌50強(qiáng)的2023年度報(bào)告（英）-2023.3

Denmark502023TheannualreportonthemostvaluableandstrongestDanishbrandsMarch2023Contents.About

Brand

Finance3ForewordDavid

Haigh,

Chairman&

CEO,

Brand

Finance79Ranking

AnalysisBrand

Value

RankingMethodology192027Our

Services?2023Allrightsreserved.BrandFinancePlc.BrandFinanceDenmark502023/denmark2AboutBrandFinance.BrandFinanceistheworld'sleadingbrandvaluationconsultancy.We

bridge

the

gap

between

marketing

and

financeBrandFinancewassetupin1996withtheaimof'bridgingthegapbetweenmarketingandfinance'.For

morethan25years,wehavehelpedcompaniesandorganisationsofalltypestoconnecttheirbrandstothebottomline.We

quantifythefinancialvalueofbrandsWe

putthousandsoftheworld’sbiggestbrandstothetesteveryyear.

Rankingbrandsacrossallsectorsandcountries,wepublishover100reportsannually.We

offerauniquecombinationofexpertiseOurteamshaveexperienceacrossa

widerangeofdisciplinesfrommarketingandmarketresearch,tobrandstrategyandvisualidentity,

totaxandaccounting.We

prideourselvesontechnicalcredibilityBrand

Finance

is

a

chartered

accountancy

firm

regulatedbytheInstituteofCharteredAccountantsinEnglandandWales,

andthefirstbrandvaluationconsultancytojointheInternationalValuation

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

inTouch.For

business

enquiries,

please

contact:Richard

HaighManagingDirector/company/brand-financerd.haigh@/brandfinance/brandfinance/brandfinanceFor

media

enquiries,

please

contact:Michael

JosemAssociate

CommunicationsDirectorm.josem@Forallother

enquiries:enquiries@+44

207

389

9400BrandFinanceDenmark502023/denmark3RequestyourownBrandValue

ReportABrandValue

Reportprovidesacompletebreakdown

oftheassumptions,datasources,andcalculationsusedto

arrive

atyourbrand’svalue.Eachreportincludesexpertrecommendationsforgrowingbrandvalueto

drive

performanceandoffersacost-effectiveway

to

gainingabetterunderstandingofyourpositionagainstpeers.InsightVisit

/request-a-valuationoremailenquiries@brand?StrategyBenchmarkingEducationBrand

ValuationSummaryBrandStrength

TrackingRoyalty

RatesCost

ofCapital

AnalysisCommunicationCustomerResearch

FindingsUnderstandingCompetitorBenchmarkingenquiries@BBrandirectoryistheworld’slargestdatabaseofcurrentandhistoricalbrandvalues,providingeasyaccesstoallBrandFinancerankings,reports,whitepapers,andconsumerresearchpublishedsince2007.+

Browsethousandsofpublishedbrandvalues+

Track

brandvalue,strength,andratingacrosspublicationsandovertime+

Useinteractivechartstocomparebrandvaluesacrosscountries,sectors,andglobalrankings+

Purchaseandinstantlyunlockpremiumdata,completebrandrankings,andresearchVisittofindoutmore.BrandFinanceGroup.BrandFinanceInstituteBrand

FinanceInstituteis

theeducationaldivisionofBrand

Finance,

whose

purposeis

to

createandfostera

professional

environmentforknowledge-sharing

andnetworking

amongpractitionersandexpertsin

themarket.

BFI

organises

events,

in-companytraining,andcorporateeducationalinitiativesaroundtheworld.In

thequestformarketingexcellenceandwiththepurposeto

equipthebrandvaluationandstrategypractitionerswiththenecessaryskillsandtools,we

have

developeda

wide

range

of

programmes

andcertificationsincollaborationwiththemost

coveted

business

schools,universitiesand

thoughtleadersin

thefield.BrandDialogueBrand

Dialogue

is

a

public

relations

agency

developingcommunications

strategies

to

create

dialogue

that

drivesbrand

value.

Brand

Dialogue

has

over

25

years

of

experiencein

delivering

campaigns

driven

by

research,

measurement,and

strategicthinking

for

a

variety

of

clients,

with

a

strongbackground

in

geographic

branding,

includingsupportingnation

brands

and

brands

with

a

geographical

indication(GI).

Brand

Dialogue

manages

communications

activitiesacross

Brand

Finance

Group's

companies

and

network.VI360VI360isa

brandidentitymanagementconsultancyworkingforclientsofallsizesonbrandcompliance,brandtransition,andbrandidentitymanagement.VI360providestraightforwardandpracticalbrandmanagementthatresultsintangiblebenefitsforyourbusiness.BrandFinanceDenmark502023/denmark5Global

BrandEquity

MonitorOriginalmarket

researchonover

5,000

brands38

countries

and

31

sectors

coveredMore

than

150,000

respondents

surveyed

annuallyWe

are

now

in

our

7thconsecutive

year

conducting

the

studyVisit/consumer-researchoremailenquiries@brand?enquiries@Foreword.Brandvaluationhelpscompaniesunderstandthevalueoftheirbrandandhowitcontributestotheoverallvalueofthecompany.

Thisimportantunderstandingcaninformdecision-makingrelatedtomarketingandbrandingefforts,aswellasprovidea

benchmarkforfutureperformance.Itcanalsobeusedtohelpattractinvestorsandsecurefinancing,asa

strongbrandcanbea

valuableasset.Additionally,

brandvaluationcanbeusefulintheeventofa

mergeroracquisition,asitcanhelpdeterminethevalueofthebrandbeingacquired.Overall,brandvaluationhelpsorganisationsunderstandtheworthoftheirbrandandhowitfitsintotheiroverallbusinessstrategy.A

strongbrandcanleadtoimprovedbusinessreturnsinseveralways.First,a

strongbrandcanhelpa

companydifferentiateitselffromitscompetitorsandestablishauniqueidentityinthemarket,whichcanleadtoincreasedcustomerloyaltyandretention.This,inturn,canleadtohighersalesandrevenue.A

strongbrandcanalsohelpa

companycommanda

higherpriceforitsproductsorservices,asconsumersarewillingtopaymorefora

brandtheyperceiveashigh-qualityandtrustworthy.

Inaddition,a

strongbrandcanhelpa

companyattracttoptalent,asemployeesmaybemoreattractedtoworkfora

well-knownandreputablebrand.Finally,a

strongbrandcanprovidea

companywitha

competitiveadvantageandhelpitweathereconomicdownturnsorindustrydisruptions.DavidHaighChairman&CEO,BrandFinanceThisyear,

BrandFinancehasinvestedmoreinresearchingandunderstandingcustomerperceptionofbrandsacrosstheworldthaneverbefore,withoriginalresearchtakingplaceindozensofjurisdictionsglobally.

Thereportyouarereadingisbasedonthisextensiveoriginalresearch,withthefindingsrepresentinga

catalystforfurtherconversations.Ifyouwanttohelpbuilda

strongerbrand,orifyouwanttobetterunderstandthevalueofyourbrand,pleasecontacttheBrandFinanceteamandI

anytime.I

lookforwardtotheconversationandhelpingtobuilda

moreprofitablefutureforyourbrand.BrandFinanceDenmark502023/denmark7LegoplayswellasitmaintainstitleasDenmark’smostvaluablebrandfor8thconsecutiveyear.+

Lego

isagainthemostvaluableandstrongestDanishbrand,valuedatDKK53.4billion+

Maersk

isthefastestgrowingbrand,up71%,in2nd

position+

?rsted

jumps4

placesto

7

witha

brandvaluethofDKK16.6billion+

DanishPharmaceuticalandBiotechbrandsseeincreasedgrowthforecastsleadingto

healthybrandvaluegrowth+

Arla

hasthehighestSustainabilityPerceptionsScore,rated4.82outof10+

Maersk

hasthehighestSustainabilityPerceptionsValue,

DKK3.8billionBrandFinanceDenmark502023/denmark8RankingAnalysis.RankingAnalysis.LegoisagainthemostvaluableandstrongestDanishbrand,valuedatDKK53.4billionnetwork,andincreaseddemandfortheirproducts,whichnowcatertobothkidsandadults.Legohasalsocontinuedtoaccelerateitsinvestmentinstrategicinitiativestobuildlong-termrelevanceandfurthergrowitsbrand.Itopened155newLegobrandedstoresthroughouttheyear,

reachingatotalof904storesglobally.ThebrandhasparticularlylookedtofurtherconsolidateintheChinesemarket.Lego

isDenmark’smostvaluablebrandforaneighthconsecutiveyear.

ThiscameasLegosawa38%year-on-yearbrandvalueincreasetoDKK53.4billion.ThisalsomakesLegotheworld’smostvaluabletoysbrand.Lego,achieveda17%increaseinrevenuein2022.Despitefacinghighinflationarypressuresonmaterials,freight,andenergycosts,Legowasabletooutpacethetoymarketandgainmarketshare.Thissuccesswasduetoseveralfactors,includingbuildingstrongpartnershipswithretailersbothonlineandinphysicalstores,areliablee-commerceplatformandanLegohasalsobeenabletooffsetsomeofthehighshippingcostsexperiencedbyotherbrandsbyhavingmanufacturingplantsnearkeymarkets.For

example,theUScurrentlygetsitsproductfromafactoryinMexico.ThissupplychainissettofurthershorteninthenexttwoyearsasLegoopensanewplantinVirginia,US.expandeddigitalteam,aresilientglobalsupplychainBrandFinanceDenmark502023/denmark

10Ranking

Analysis.Denmark’smostvaluablebrandsseem

relativelyresilienttoeconomicdisruption,asreflectedbyanimpressive21%aggregatedbrandvaluegrowthamongthecountry’s50mostvaluablebrands.ThebiggestDanishbrandsareunusualforbeingfirmlyrootedinthephysicalworld:Legoisaniconicbrandacrosstheworldfortheunlimitedplayopportunitiesitcreates,andMaerskisanintegralpartoftheglobalgoodseconomy.Acrosstheworld,childrenknowthata

LegotoyThegrowthinToysAnnaBrolinManagingDirector,BrandFinanceNordicsandLogistics,thefastestgrowingindustries,aredrivenbythesuccessoftheleadingbrands:LegoandMaersk.A

closerunnerupisPharmaceuticals,anothersectorwhichrepresentshoursoffun,whileparentsknowthepainofstandingona

forgottenLegopieceinthemiddleofthenight.ThatisthevalueofDanishbrands,whichareenduringintothe21st

century.enjoysstronggrowth.Top

10MostValuableDanishBrands?BrandFinancePlc2023K

w

w

o

m010203405051234DKK

53.4

bn+38%DKK

53.2

bn+71%DKK

23.8

bn+5%DKK

23.7

bn+5%DKK

22.5

bn+22%A

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h26078191101961178DKK

22.2

bn+46%DKK

16.6

bn+52%DKK

14.9

bn+5%DKK

13.4

bn+3%DKK

12.0

bn-0%BrandFinanceDenmark502023/denmark

11Ranking

Analysis.Lego

continuestosustainhighbrandequity,awareness,andfamiliarity.Unlikemanyothertoybrands,Legohasbeenabletoholdontoolderconsumers–agroupthathashavebeenkeytoLego’scontinuedsuccess.IthasnowsuccessfullypenetratedthecollectableandhobbysegmentinwhichitcanexercisehealthypricepremiumsonagenerationwhichgrewupwithLegoandholditinhighnostalgicregard.Alongsidethis,LegohasremainedrelevanttoyoungergenerationsthroughitsLegolandthemeparks,LegoMoviefranchises,andvideogames,aswellascollaboratingwithotherwell-knownbrandssuchasNASA,FerrariandStarWars.Legohasalsoworkedtodiversifythepricepointsofitsproductsaswidespreadfinancialinstabilitynegativelyaffectedconsumersoverthepastyear.Legorecognisestheimportanceofcommittingtoamoresustainablefutureandsuccessfullycommunicatesthistostakeholders.Theyhavealreadybeguntransitioningtopaper-basedbagsintheirboxesandplantomakealltheirpackagingfrommoresustainablesourcesbytheendof2025.Additionally,Legoinvestsinreducingwaste,operatingmoreenergyefficiently,expandingproduction,andutilizingsolarenergyintheirfactories.Top

10StrongestDanishBrands?BrandFinancePlc2023K

m

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h

w410223215211136285.9-1.676.7+0.375.9+1.775.7-1.375.4+4.6AAAAA+AA+AA+AA+m

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d1062728192147851275.4+1.375.1+2.174.3-0.774.2+3.973.8-1.4AA+AA+AAAAAABrandFinanceDenmark502023/denmark

12Ranking

Analysis.Second-rankedMaerskisthefastestgrowingbrand,up71%BrandValue

Change2022-2023(%)Globally-integratedlogisticsbrand,Maersk,hasachieved71%year-on-yearbrandvaluegrowth,takingittoDKK53.2billion,andreducingthegapbehindLegoatthetopoftheranking.Thebrandachievedrecordrevenuesthisyear,

up32%,withforecastsincreasinginasimilarmanner.

Maerskhasnowmore-than-doubledinbrandvaluefromitspre-pandemiclevel,withMaersk’sbrandstrengthincreasingto75withacorrespondingAA+rating.71%54%52%-9%50%-6%46%-3%Maerskhasexpandeditsaircargobusiness,nowofferingdirectflightsbetweenKorea,ChinaandtheUS.TheserviceswillconnectmanufacturingandcommercialhubsineasternChinawiththoseintheUSEastCoastandMid-West,

amongstothernewkeyroutes.IthasalsoacquiredLFLogistics,thebrand’smostconsequentialacquisitiontodate,-12%furtherboostingitsfootprintinAsia.ThisincreasedMaersk’slogisticsbusiness,-51%A.P.Moller

toarevenueofUS$14.4billionin2022andincreaseditswarehousefootprintto6millionSqmacrossmorethan452warehouses.ThisisasignificantmilestoneinA.P.

MollerandMaersk’sstrategicambitiontoconnectandsimplifyitscustomers’globalsupplychainsbyofferingintegratedend-to-endlogistics.?BrandFinancePlc2023BrandFinanceDenmark502023/denmark

13Ranking

Analysis.?rstedjumps4

placesto7th

witha

brandvalueofDKK16.6billionUtilitiesbrand?rsted

hasjumpedfourplaces,followingabrandvalueincreaseof52%toDKK16.6billion.ThisalsomakesitthethirdfastestgrowingDanishbrand.Indoingthisithasleap-froggedDanske

Bank

(brandvalueup5%toDKK14.9billion),Pandora

(brandvalueup3%toDKK13.4billion),andCarlsberg(brandvalueup4%toDKK12billion),allofwhichdroponepositionintheranking.?rsted’sexperienceinconstructinglargescaleoffshorewindfarmshasallowedforaclearroleintheongoingenergytransition.Goingforward,thebrandwillfocusparticularlyoninnovatinganddevelopingthreekeyfutureenergyareas:offshorewind,onshorerenewables,andP2X

(greenfuelsande-fuels),aimingtobecomeamajorplayerindevelopingmulti-technologysolutions.Despiteachallengingandvolatileyear,

?rstedhasdeliveredstrongstrategicprogressandrecordresults,reflectedinitsbrandvalueincrease.DanishPharmaceuticalandBiotechbrandsseeincreasedgrowthforecastsleadingtohealthybrandvaluegrowthNovo

Nordisk

(brandvalueup46%toDKK22.2billion)isamultinationalpharmaceuticalcompanyspecialisingindiabetesandweightlossdrugs.Thebrand’sforecastshaveincreasedin2023,tiedtotheactivepromotionandtherampingupofitsproductionofweightlossdrugs,WegovyandOzempic.Thesehadpreviouslyfacedwidespreadshortageslastyearduetoitsincreasingpopularity.Wegovy,

alsousedtotreatdiabetes,isaoncedailyinjectionthatsuppressesappetite.Testing

hasfoundstrongconnectionswithweightloss,andasconsumerawarenessincreases,theNovoNordiskbrandislikelytobenefitincomingyears.FellowDanishBiotechandPharmaceuticalcompanyGenmab

(brandvalueup36%toDKK2.4billion)alsoexperiencedaforecastrevenueincrease-up51%in2023.Thebrandspecialisesincancerandautoimmunediseasetreatment.Itsgrowthwasprimarilydrivenbyhigherroyaltiesforsomeofitsproducts(DARZALEX,TEPEZZAandKesimpta)achievedundercollaborationsBrandFinanceDenmark502023/denmark

14Ranking

Analysis.withJanssen,Roche

andNovartis

Pharma

AG(Novartis),respectively,partlyoffsetbymilestonesachievedundercollaborationswithJanssen

andAbbVie

in2021.Theseincreaseshavebeendrivenbysolidsalesinthefeedbusinessandpositivestrategiccollaborationsandacquisitions.ThebrandhaspartneredwithBenson

Hill,abiofoodcompany,

tosourcesoyprotein-basedfeedwhichsignificantlycutsitscarbonfootprintandmakesitsfeeddeforestationfree.ThiscomesincombinationwithstrongresultsforAQ1

Systems,newlyacquiredbyBioMar,

andtheworld’sleadingproducerofacousticfeedingtechnologyfortheshrimpfarmingindustry.CHR

Hansen

(brandvalueup25%toDKK3.3billion)hasalsoseensolidforecastincreasesandsubsequentbrandvalueandbrandstrengthgrowth.ItsBrandStrengthIndexscorehasgoneupfourpointsto74outof100,withacorrespondingAArating.CHRHansenisaBiosciencecompanyinvolvedintheFoodindustry,itspecialisesinproducingbacteriacultures,Probiotics,Enzymes,andhumanmilkoligosaccharides.CHRHansenhasparticularlybenefitedfromgrowinginterestandinvestmentintheBifidobacterium(probiotics)marketasthehealthimplicationsofthegutmicrobiomehavebecomemorewidelyknownanddiscussedamongstnutritionistsandthewiderpublic.Thishaslikelycontributedtoitsbrandvalueincreaseandsuggestsfurthergrowthpotentialasthisbecomesevenmorewidelydiscussedinthecomingyears.Newentrant,BioMar,whichspecialisesinfishfarmingandsustainableaquaculturefeeds,hasalsoseenabrandvalueincreaseof24%toDKK871.4million.BioMar’sBrandStrengthIndexscorehasalsoincreasedby4points,takingitto66outof100,withacorrespondingAA-rating.?BrandFinancePlc2023BrandValue

bySectorBrandValue(DKKbn)%oftotalNumberof

BrandsSector●●●●●●●LogisticsToys80.453.447.320.2%13.4%11.9%10.1%9.0%31Food104Engineering&Construction

40.0PharmaBankingOther35.7529.27.4%6111.4397.428.0%100.0%2150TotalBrandFinanceDenmark502023/denmark

15Ranking

Analysis.ArlahasthehighestSustainabilityPerceptionsScore,rated4.82outof10Aspartofitsanalysis,BrandFinanceassessestherolethatspecificbrandattributesplayindrivingoverallbrandvalue.Onesuchattribute,growingrapidlyinitssignificance,issustainability.BrandFinanceassesseshowsustainablespecificbrandsareperceivedtobe,representedbya‘SustainabilityPerceptionsScore’(SPS).Thevaluethatislinkedtosustainabilityperceptions,the‘SustainabilityPerceptionsValue’(SPV),isthencalculatedforeachbrand.Scandinavia’slargestproducerofdairyproducts,Arla

(brandvalueup5%toDKK23.7billion),hasthehighestSustainabilityPerceptionsScoreofanybrandincludedintheDenmark502023ranking–4.82outof10.ItsSustainabilityPerceptionsValue

isDKK1.7billion.ThisindicatesthevaluethatArlahastiedupinthesustainabilityperceptionsofstakeholders.farms,supportingandenablingfarmerinvestmentsinmoresustainablesolutions.Arlahassetanewgoalofusing100%renewableelectricityinEuropeby2025.TheyplantoachievethisbysigningadditionalPowerPurchaseAgreements.Theseinitiatives,Arla’sArla

has

lowered

its

carbon

emissions

and

successfully

progresstowardsreachingsustainabilitytargets,anddevelopedaSustainabilityIncentiveModel,tobeintroducedin2023.Thiswillincludeasustainabilitypaymentaspartofitsmilkprice,tyingthemilkpricefarmersreceivetosustainabilityactionsontheirthesuccessfulcommunicationofthis,havecreatedahighsustainabilityperceptionamongststakeholders,reflectedinitspositionatthetopoftheSustainabilityPerceptionranking.Top

10HighestDanishSustainabilityPerceptionScore(SPS)?BrandFinancePlc2023o

A

h

w

m412354.84.64.44.34.3w

L

h

g86794.23.93.93.5BrandFinanceDenmark502023/denmark

16Ranking

Analysis.MaerskhasthehighestSustainabilityPerceptionsValue,DKK3.8billionAswellasbeingDenmark’ssecondmostvaluablebrand,Maersk

alsohasthehighestSustainabilityPerceptionValue

atDKK3.8billion.Thebrand’spositionatthetopoftheSPVtableisnotanassessmentofitsoverallsustainabilityperformance,butratherindicateshowmuchbrandvalueithastiedupinsustainabilityperceptions.Maersk’sSustainabilityPerceptionScorewasalso4.27outof10,thefourthhighestintheranking.In2023Maerskhasseenprogressinitsgreeninitiatives,drivenbyitclearlydefiningtheroadmapandprocessesneededtofullyintegrateitsESGstrategyintothebusiness.Thisincludesinvestmentinatransitiontomoresustainabletransportationsystemsandcollaborativecrosssectorsolutionsinanattempttoreduceemissions.For

example,inthepasttwoyearsMaerskhasorderednineteenlargeocean-goingvesselsthatcansailongreenmethanol.Ithasalsoconfirmedninenewgreenfuelpartnershipsin2022,helpingscaleupnewfuelproductioncapabilitiesandtechnologies.Top

10HighestDanishSustainabilityPerceptionValues

(SPV)?BrandFinancePlc2023w

w

o

L

h41235DKK

3,832

mDKK

1,688

mDKK

1,680

mDKK

1,454

mDKK

1,032

mg

A

h

m8679DKK

874

mDKK

697

mDKK

662

mDKK

607

mBrandFinanceDenmark502023/denmark

17Ranking

Analysis.Denmarkincreasesglobalsoftpowerscore,maintains18thpositiongloballySoftPower:“Governance”(ranked10th),People&Values(ranked8

)and“SustainableFuture”(ranked9th),whichprovesthatDenmarkcontinuestopunchaboveitsweightintheSoftPowerleague.thDenmarkranks18intheworldintheGlobalSoftPowerIndex2023.ThismeansDenmarkdefendsitsrankpositionfromlastyear,

atthesametimeasthenationincreasesitstotalscore.TheworldlookshighlyfavourableonmostelementsthatbuildtheDanishnationbrand.Apartfrom“Education&Science,”whichshowsaslightdropinscore,Denmarkhasincreasedtheirscoresonallbutonemetric.Assustainabilitybecomesanever-more-importantfactorforSoftPower,

DenmarkandotherNordiccountrieswillhaveanimportantroletoplayinsettingthepacefortheenergytransition.Theycanactasworkingexamplesofthesuccessfulincorporationofsustainabilityintoalllevelsofsocietyandbusiness.Thenationcontinuestostandoutinrelationtoseveralmetricsandreceivedaworldwidetop10rankinthreeoftheeightpillarsthatcontributetoanation’sMoreinformationaboutDenmark’sperformanceintheGlobalSoftPowerIndexisavailableonlineat/softpowerBrandFinanceDenmark502023/denmark

18BrandValue

Ranking(DKKm).To

p

50mostvaluableDanishbrands1-502023BrandValueBrandValueChange2022BrandValue2023BrandRating2022BrandRating2023

2022Rank

RankBrandSector000000211121021212120222212221222001220222112053,35953,16723,75623,67922,47422,23216,62814,90213,38012,02838,65531,05222,77722,61518,35715,19010,92814,20512,92912,05111LegoToys+38.0%+71.2%+4.3%+4.7%+22.4%+46.4%+52.2%+4.9%+3.5%-0.2%AAAAA+A+AA-AA-AA+AA-AAAAAA22MaerskLogistics33DSVLogisticsAA-AA-AA-AA44ArlaFood55VestasEngineering&

Construction66NovoNordisk?rstedPharma7117UtilitiesAA8DanskeBankPandoraBankingAA-AA+AA+98ApparelAA10111213141516171819202122232425262728293031323334353637383940414243444546474849509CarlsbergDanfossBeersAA+121013161417151918262123302527242831322233363734352038403944434541424846-Engineering&

ConstructionISSCommercialServicesRetailCoopDanmarkNettoRetailColoplastTrygPharmaInsuranceBeersTuborgNykreditBankingInsuranceBankingFoodDanica

PensionJyskeBankDenGr?nneSlagterROCKWOOLTulipEngineering&

ConstructionFoodECCOApparelLogisticsTechDFDSSeawaysGNLurpakFoodNuudayTelecomsFoodCHRHansenDanishCrownNetcompanyNovozymesGenmabFotexFoodTechPharmaPharmaRetailPERAarsleffTopdanmarkRoyal

GreenlandSeafoodSparNordBankSteffHoulbergBilkaEngineering&

ConstructionInsuranceFoodBankingFoodRetailTotalKreditLundbeckSydbankG?lBankingPharmaBankingFoodMatasRetailPrinceTobaccoBeers31Ceres4749-AlmBrandFaktaInsuranceRetail03BioMarFoodBrandFinanceDenmark502023/denmark

19Methodology.Definitions.BrandValue+

EnterpriseValueThevalueoftheentireenterprise,madeupofmultiplebrandedbusinesses.[DanishCrown]Whereacompanyhasapurelymono-brandedarchitecture,the‘enterprisevalue’isthesameas‘brandedbusinessvalue’.+

BrandedBusinessValueThevalueofasinglebrandedbusinessoperatingunderthesubjectbrand.[Tulip]Abrandshouldbeviewedinthecontextofthebusinessinwhichitoperates.BrandFinancealwaysconductsabrandedbusinessvaluationaspartofanybrandvaluation.We

evaluatethefullbrandvaluechaininordertounderstandthelinksbetweenmarketinginvestment,brand-trackingdata,andstakeholderbehaviour.+

BrandContributionBrandValueTheoverallupliftinshareholdervaluethatthebusinessderivesfromowningthebrandratherthanoperatingagenericbrand.[Tulip]Thebrandvaluescontainedinourleaguetablesarethoseofthepotentiallytransferablebrandassetsonly,

making‘brandcontribution’awiderconcept.An

assessment

of

overall

‘brand

contribution’toabusinessprovidesadditionalinsightstohelpoptimiseperformance.+

BrandValueThevalueofthetrademarkandassociatedmarketingIPwithinthebrandedbusiness.[Tulip]BrandFinancehelpedtocrafttheinternationallyrecognisedstandardonBrandValuation–ISO10668.Itdefinesbrandasamarketing-relatedintangibleassetincluding,butnotlimitedto,names,terms,signs,symbols,logos,anddesigns,intendedtoidentifygoods,servicesorentities,creatingdistinctiveimagesand

associations

in

the

minds

of

stakeholders,therebygenerating

economicbenefits.BrandFinanceDenmark502023/denmark

21BrandValuation

Methodo