Corporate Excellence Award

Back in 2008, we have decided to challenge Baltic stock exchange-traded companies by launching Corporate Excellence Award initiative. Two years later the same initiative was launched also on the pan-European scale and in 2014 for the first time we have assessed Corporate Excellence on the Global scale.


The key idea behind the project in Baltics is to determine excellent companies in the Baltic stock universe and to motivate other exchange-traded companies to improve their corporate transparency, financial results and other aspects in order to become attractive investment targets. We believe that initiative will help the executives of the Baltic companies to assess the factors and criteria investors are evaluating before making an investment decision.

Winners 2021

  1. Telia AB

    Well-established infrastructure and high service quality that results in leading market shares in almost all operating areas. In 2020 grew its topline, though the situation was rough, and was also able to stick to cost discipline, resulting in robust financial position having now a solid base for further investments.
  2. Tallinna Vesi

    The company was able to keep margins on a good level and maintain its balance sheet quality even during rough pandemic period. Its infrastructure has created a natural monopoly and stability is ensured by the exclusive agreement, entitling Tallinna Vesi to be a sole provider of water and wastewater services. Increasing standards ensure high water quality and environmentally friendly operations, which result in high customer satisfaction.
  3. Tallinna Kaubamaja

    Navigated well through the critical times and took the chance to expand further. While keeping the fundamentals at a decent quality level, the company continues to innovate, and pursues active investment strategy to fuel expansion. In 2020 it continued to expand its e-commerce segment (e-Selver) and acquired ABC Supermarkets AS, therefore increasing its number of supermarkets.