KGHM Polska Miedź S.A. retains ‘The Best of the Best’ title

KGHM once again won the prestigious title ‘The Best of the Best’ in The Best Annual Report competition, organised by the Institute of Accountancy and Taxes. In this year's edition, the company received the highest score among all firms for its consolidated financial statements. This is the 13th ever award in this category for KGHM.

During the ceremonial Gala organised by the Institute of Accountancy and Taxes at the Warsaw Stock Exchange, KGHM representatives were honoured with ‘The Best of the Best’ statuette.

Retaining the title is not only proof of our consistency in pursuing the highest reporting standards, but also of the commitment of the entire Team. Our consolidated financial statements, which received the highest mark, demonstrate KGHM's transparency and responsibility towards shareholders and the market – said Piotr Krzyżewski, KGHM's Vice President for Finance.

A success story

KGHM has dominated The Best Annual Report competition for many years. It won the title of ‘The Best of the Best’ for the first time in 2010 after winning the top prize three times between 2007 and 2009. Since then, the company has consistently maintained a high level of reporting and has been recognised by the Jury, made up of Poland's most eminent experts and practitioners in accounting and finance.

The main purpose of the consolidated financial statements is to present the situation of the Group, including, among other things, both its profits and expenses.

Transparency and communication

The Jury assesses reports not only for compliance with the International Financial Reporting Standards (IFRS), but also for the quality of communication with the market. Elements such as strategy, description of risks or the conciseness and transparency of the information presented are key.

The Best Annual Report is a competition that promotes annual reports with the greatest usefulness for shareholders and investors. It is open to companies from all over Poland which prepare consolidated financial statements in compliance with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), as well as to companies from the alternative market reporting in accordance with the above Standards or the Accounting Act.

The winner of ‘The Best of the Best’ award is the company which consistently maintains a high level of quality in reporting and communication with the market and which has won the first main prize three times in all editions of the competition.