Daimler Truck CEO and CureVac CEO discuss on innovations in the podcast
Stuttgart – To kick off the third season of Transportation Matters, the CEO Podcast of Daimler Trucks & Buses, Martin Daum has invited the CEO of CureVac, Dr. Franz-Werner Haas. They both discuss successful innovations and global challenges. The COVID-19 pandemic and climate change demand a completely new approach. At the same time, however, the path from innovation to market launch is often long. In this episode of the podcast, Martin Daum and Dr. Franz-Werner Haas discuss which factors are crucial to success.
Both companies, Daimler Truck AG and CureVac, are pioneers in their industry. CureVac has developed an mRNA-based vaccine to combat the global coronavirus pandemic. Daimler Trucks & Buses is advancing the transition to CO2-neutral goods transport and passenger traffic. The company is presently developing a series-ready fuel cell drive. During their discussion, the two CEOs consider the following questions, for example: when is the time right for an innovation? How can innovations succeed – from the development phase to market launch? Which individual challenges do innovative entrepreneurs face?
Dr. Franz-Werner Haas emphasizes that innovations do not just establish themselves. “If you want to be successful with an innovation, you must be prepared to perform persuasive efforts. You need to provide very good reasons as to why someone should invest in technology change. Because such a change usually involves many established products losing their market share.”
For Martin Daum speed is also an essential success factor: “Innovations must be launched on the market quickly. However, the crucial conditions must be in place. We are also experiencing the typical “hen-and-egg-problem” in the development of the fuel cell drive. In order for this type of drive to become accepted, we need a functioning hydrogen infrastructure and vice versa. That is why both of these must be advanced simultaneously and not one after the other.”
About the podcast of Daimler Trucks & Buses
Transportation Matters is the first CEO Podcast of the transportation industry. Martin Daum, CEO of Daimler Truck AG, speaks with international guests on topics ranging from the future of transport to sustainability and all the way to leadership knowledge. Following the successful first and second season, today starts the first episode of the third season with new and interesting guests.
Transportation Matters and the latest episode with Dr. Franz-Werner Haas can be accessed and subscribed to at:
Daimler Truck Corporate Website: http://d.ai/daimlerhub-fwh
Garmin announces first quarter results
Company reports strong double-digit revenue and operating income growth
Schaffhausen, Switzerland / April 28, 2021/ Business Wire – Garmin® Ltd. (NASDAQ: GRMN), today announced results for the first quarter ended March 27, 2021.
Highlights for first quarter 2021 include:
- Total revenue of $1.07 billion, a 25% increase over the prior year quarter led by double-digit growth in the fitness, outdoor, marine and auto segments
- Gross margin improved to 59.8% compared to 59.2% in the prior year quarter
- Operating margin improved to 23.3% compared to 20.7% in the prior year quarter
- Operating income of $250 million, a 41% increase over the prior year quarter
- GAAP EPS was $1.14 and pro forma EPS(1) was $1.18, representing 30% growth in pro forma EPS over the prior year quarter
- Launched Lily™, our smallest and most fashionable smartwatch
- Expanded our market reach to serve endurance athletes with the launch of EnduroTM
- Entered the powersports market with an all-new assortment of products including the rugged Tread™ power sport navigator, the PowerSwitch digital switching system and the BC 40 wireless camera
- Garmin Autoland named a 2020 finalist for the esteemed Robert J. Collier Trophy
Marco Schubert appointed new Vice President of Europe region
Stuttgart. Marco Schubert will be taking on the role of Vice President Region Europe at Porsche on 1 July 2021. Currently he is President of the Audi Sales Division China. Schubert will follow in Barbara Frenkel’s footsteps who herself will move to the Board of Management.
“We are delighted to gain such an experienced person for our European sales region”, says Detlev von Platen, member of the Executive Board responsible for Sales and Marketing at Porsche AG. “Thanks to his ample international experience at various automotive brands, Marco Schubert is the ideal appointment to this role.”
Marco Schubert has been working in his current role at Audi in China since 2018. Prior to this, he headed up sales Asia and Overseas at Skoda Auto a.s. Between 2014 and 2017 Schubert had been Managing Director at Audi in Sweden. Before that, he had already been working as the head of Audi’s Northern Europe region for three years.
ROLLS-ROYCE MOTOR CARS REPORTS RECORD FIRST QUARTER RESULTS
Rolls-Royce Motor Cars has delivered the highest-ever first quarter sales results in the marque’s 116-year history in the first three months of 2021. Between 1 January and 31 March, the company delivered 1,380 motor cars to customers, up 62% on the same period in 2020 and surpassing the previous first quarter record set in 2019. Sales growth was seen in all markets, with the strongest in China, US and Asia Pacific.
- Rolls-Royce reports record first quarter sales, up 62% on the same period in 2020
- Total exceeds previous record set in 2019 and is the highest in the marque’s 116-year history
- Sales growth was seen in all markets, with the strongest in China, US and Asia Pacific
- High demand for all models, particularly new Ghost and Cullinan, with order books extending well into the second half of 2021; Bespoke commissions also at record levels
- Company ‘optimistic’ for remainder of 2021
“Rolls-Royce Motor Cars made a strong start to 2021, reflected today in our first quarter sales figures, which are the highest in our 116-year history. With robust order books across our product range, particularly for the new Ghost and Cullinan, sales growing in key markets and Bespoke commissions running at record levels, our business is in excellent shape. We have every reason to be optimistic for the remainder of 2021.”
Torsten Müller-Ötvös, Chief Executive Officer, Rolls-Royce Motor Cars
Rolls-Royce Motor Cars has delivered the highest-ever first quarter sales results in the marque’s 116-year history in the first three months of 2021.
Between 1 January and 31 March, the company delivered 1,380 motor cars to customers, up 62% on the same period in 2020 and surpassing the previous first quarter record set in 2019. Sales growth was seen in all markets, with the strongest in China, US and Asia Pacific.
Demand for all Rolls-Royce models is extremely buoyant, particularly the new Ghost launched in 2020, and the superluxury SUV, Cullinan, with order books extending well into the second half of 2021.
Bespoke commissions remain at the record levels seen in 2020, with a number of outstanding individual examples already delivered this year, including the Koa Phantom and Iridescent Opulence Phantom. All 20 of the Phantom Tempus Collection cars have been allocated to customers worldwide.
Reflecting on the results, Müller-Ötvös said, “We’ve responded to recent challenges with our customary boldness, imagination and inventiveness, underpinned by meticulous planning and a relentless focus on our customers’ needs and requirements. Every member of our extraordinary team, at the Home of Rolls-Royce at Goodwood and across the globe, has been crucial to delivering these remarkable results; their skills, talents, commitment and enthusiasm make us who we are.”
Porsche achieves sustainable growth in 2020 financial year
Stuttgart. Porsche AG set a new revenue record in the 2020 financial year: its value grew to 28.7 billion euros, surpassing the previous year’s figure by more than 100 million euros. The operating result is 4.2 billion euros. The previous year it was 4.4 billion euros before special items and 3.9 billion euros after. The return on sales was 14.6 percent in 2020, within the strategic target corridor despite the tense economic situation. The strong figures from 2019 were thus only barely missed, despite a temporary shutdown of production. In total, Porsche delivered more than 272,000 vehicles to customers worldwide. This is just three percent less than the previous best year, 2019. The profit before tax was 4.4 billion euros, an increase on 2019.
“The financial year 2020 was successful for Porsche – despite challenging circumstances,” emphasises Oliver Blume, Chairman of the Executive Board of Porsche AG. “There are four reasons for this: our attractive product range, convincing electric models, our brand’s innovative strength and the determination with which we approached our crisis management. More than 20,000 units were delivered of the Taycan, the first all-electric Porsche sports car. This makes it the most successful electric sports car in its class. More than 50 international awards attest to this. Among other things, the Taycan was named the ‘world’s most innovative car’. Porsche stands for a robust core business, sustainable action, social responsibility and innovative technologies.”
“We’re very proud of our business figures,” says Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT of Porsche AG. “Despite the numerous challenges, we achieved our strategic target corridor with an operational return on sales of 14.6 percent.”
According to Lutz Meschke, the fact that such record figures were achieved despite the difficult global situation was made possible by a very swiftly established cost and liquidity management system. “Our top priority in the crisis was liquidity. We needed to reduce all costs that were not absolutely necessary.” At no stage did Porsche lose sight of its long-term strategic direction. “We didn’t scrimp at all when it comes to the future topics. We continue to proceed at full speed on transformation, digitalisation and electrification. Attempting to economise in these areas will very quickly result in a loss of competitiveness. Our cost and liquidity management provided a benchmark. We protected our business so we can get going again at full steam once the crisis ends.”
Honing of the profitability programme
With this in mind, Porsche once again honed its ambitious “Profitability Programme 2025”. “Our new goal is to support our result cumulatively by 10 billion euros by 2025, and by 3 billion euros per year after that,” says Lutz Meschke. “The most important thing about our profitability programme is that it’s not just a savings plan, it’s also a programme of innovation. It’s not about cutting costs. It’s about intelligently optimising all of our processes and developing new business ideas.” In a difficult market environment, Porsche has kept the number of employees constant at around 36,000. “No employee needs to be concerned. We concluded a job security agreement that guarantees the jobs of our core workforce until 2030,” says Lutz Meschke. “We’re not cutting any jobs or getting rid of any subsidiaries. On the contrary, we’re investing in our employees and in our future. This is paying off: Porsche increased its efficiency further and lowered its profit threshold. From this position we want to achieve our strategic goal of an operational return on sales of 15 percent in 2021 as well, despite the difficult economic situation.” As in the previous years, Porsche shared the company’s bounty with the workforce. For 2020, the voluntary bonus is 7850 euros.
Porsche targeting a CO₂-neutral balance sheet for 2030
In the face of continuing climate change, Porsche AG set itself another ambitious target: “Sustainability is an important part of our Strategy 2030 – holistically: economically, ecologically and socially,” says Oliver Blume. “We launched a comprehensive decarbonisation programme with a firm target in mind: Porsche wants to have a CO₂-neutral balance sheet throughout the entire value chain by 2030. We will achieve this by systematically avoiding and reducing CO₂ emissions. All of the major sites like Zuffenhausen, Weissach and Leipzig have been CO₂-neutral since 2021. We’ve earmarked more than a billion euros for decarbonisation over the next 10 years. We’ve reached the first milestone: the Taycan Cross Turismo, which had its world premiere at the beginning of March, is the first vehicle that will be CO₂-neutral throughout the use phase.”
In 2020, a third of all Porsche vehicles delivered in Europe were fully or partially electric; worldwide it was 17 percent. In 2025, half of all new Porsche vehicles sold will have an electric motor; in 2030, more than 80 percent of the new vehicles will be electric.
For Porsche, socially responsible action also comes under the umbrella of sustainable management. In keeping with this, the company launched its “Porsche helps” programme during the pandemic. It saw countless employees give their time or money to charitable projects. To mitigate the effects of the pandemic, Porsche topped up its donations by 5 million euros, while food donations to the Tafel organisations were doubled.
Robust delivery performance
When it comes to deliveries, Porsche benefited from its strong global positioning. The number of sports cars delivered to customers remained largely stable. The greatest demand was for the Cayenne, with 92,860 units delivered. This is an increase of one percent compared with the previous year. A total of 20,015 units of the Taycan were delivered in 2020 – despite the six-week production shutdown in spring that coincided with the start of production of the new model as well as numerous market premieres. China remains the largest single market: Porsche delivered 88,968 vehicles to Chinese customers in 2020 – an increase of three percent compared with 2019. The Asia-Pacific, Middle East and Africa regions also continued to show positive growth overall, with 121,641 vehicles delivered there in 2020. This was a four percent increase compared with the same period in the previous year. Porsche delivered a total of 80,892 vehicles in Europe. In America, this number was 69,629.
JUAN SERRANO CEO OF GRUP BALFEGÓ
Manel and Pere Vicent Balfegó, cousins and founders of the company Balfego Are fifth generation members of a large fishing family originating from L’Ametlla de Mar in Tarragona, Spain. In the 80s, they harnessed their vision and decided to invest their time and energy exploring the possibilities of a bluefin tuna fishery. After many years of enquiry, hard-work and investment, they have gone on to establish themselves as the world’s leading company in terms of the understanding, capture, breeding, fishing, production and distribution of bluefin tuna.
Balfegó wild tuna live in pools off the coast of L’Ametlla de Mar. For up to a year they live here, feeding exclusively on wild fish. Dedication has now brought Balfego well earned product recognition, a benchmark of excellence establishing them as the only company in the world which extracts tuna from the sea at its optimum point of fat, dependent on customer demand. The extraction method used at Belfego guarantees a stress-free product, without ‘yake,’ which in Japanese means ‘burned meat,’ offering customers therefore a product of excellent gastronomic value as now found in many of the world’s best restaurants.
ABOUT JUAN SERRANO, CEO OF GRUP BALFEGÓ
I began my professional career at Philips Lighting, in the Procurement and Stock Management and Production Planning departments. Later, I went on to direct a project, a small snack and chips company that was later sold to the Arroz Sosarana Group, which I a shareholder in, and a member of the Board of Directors as Group Secretary. After that, I joined KH7, a company that, during my time, came to be the leader in the kitchen cleaners and degreasers segment. Next, I set up a business providing clients strategic advice and human resource selection and management. I was also part of Forenqui Laboratories. Later I was in a construction company and finally I joined Grup Balfegó in 2007.
Early days in Balfegó
I started as an external consultant advisor to Balfegó. This came about through Xavier Subirats, a former fellow student who is now Vice-Dean of the Catalonian Economists Society. Initially, I used to come in one day a week, later two, then three … Eventually I was working there full time, leaving behind other projects. I have been at Balfegó since then, in the position of the Group Managing Director.
What was the company like when you arrived?
It was a company with a particularly modern structure, a building that was only a year old, wonderful offshore facilities… but the company sold exclusively to, and dedicated itself 100% to Japan, and because of this, the product became a commodity. Our activity began with fishing the live fish. These captured tuna were fattened between July and October, and sold in October to November. This meant that we had to wait for the following year’s fishing season to have more specimens available to sell. In view of these unproductive periods, we elected for the fresh consumption strategy, adjusted to customer demand. Little by little, we were exporting to 32 countries in the world, quickly becoming the world’s leading company in fresh consumption.
At the structural and organizational model level, we also implemented a total transformation in which technology and innovation played a primary role.
We started investing in research, becoming a very powerful source of knowledge about bluefin tuna. So much so, that we were the first to intervene in the tuna reproduction cycle, proposing fishery control measures. In the end, we became a spokesperson that the media went to when they needed to learn about the species and the sector.
In addition, we design a marketing strategy to create a brand of considerable international prestige. This included a traceability system to monitor ourselves and used technology to provide information (weight, size, date of capture, fat percentage and all the itemised health and microbiological certificates), both to the chefs and end consumers alike.
In addition, we are the only ones who routinely specify the level of fat in each individual tuna, and so are able to optimally attend to the taste preferences of our customers.
How is Balfegó nowadays, and what are the perspectives for the future?
At a commercial level, we can say that we are a leading company, internationally recognized. We have a presence in some of the best restaurants in the world in more than 32 countries, and are a pioneer in the marketing of fresh bluefin tuna. Balfegó is a company that functions under a well-implemented integrated management system with procedures that makes us increasingly efficient. We perpetuously seek to improve the tasks involved in all these procedures, continuously improving existing indicators. In the future, I see us opening up in other areas apart from the restaurant sector where we have been from 2009 until now. Little by little, I see us adding retail outlets, specialized in the gourmet area.
What role does the R + D + i department play in Balfegó?
It is the department, let’s say, at the cutting edge. If we had not gotten to know our product, its biology and its behaviour in its natural environment in the sea, surely today we would be in the position we are in. We would not have been able to give recommendations on tuna fishery management. We have been pioneers in this regard, thanks to all our investment in marine research.
On top of all of this, we should highlight that we have also been at the forefront of research and innovation once the tuna leaves the water. We have learned, by measuring the PH, to control the lactic acid that a tuna secretes after slaughtering, and we were pioneers when it came to measuring fat content. As a direct result of this research, we feed tuna exclusively on blue fish and in this way, adapting the taste in terms of the fat level, to meet the requirements of customers from different parts of the world. In addition, we are in some way able to guarantee the health and food safety of our products. Without a doubt, pioneers in total traceability from the sea to the consumer’s table.
How important have the fish husbandry facilities been in Balfegó’s transformation?
There are two important considerations. The first one is that bringing a seasonal product to market that can only be fished during a short period of time can cause prices to fall. Having fish husbandry facilities available allows us to regulate supply and demand. If, at the other end of the supply chain, there is no-one who wants that tuna, we will never slaughter it. And the second aspect is improving the quality of the tuna we fish. When tuna come to the Mediterranean to spawn, they have lost a large proportion of fat during the journey. It is important that they recover it, because it is in this fat that the quality of the tuna resides. These are the two mainstays.
Movistar, Telefónica, Yoigo and Cellnex, the Spanish companies that were already in the ranking
Euskaltel enters the Brand Finance ranking of the world’s most valuable telecommunications brands
- The Spanish presence in the sectorial ranking of telecommunications brand value increases. Euskaltel joins Movistar, Telefónica, Yoigo and Cellnex among the most valuable brands in the world.
- The two brands of the Telefónica Group, Movistar and Telefónica, decrease in value and brand strength but continue to be the first among the Spanish ones.
- Yoigo is the only Spanish in the ranking that increases both in value (20.1%) and in brand strength (+4 points). Cellnex is the one with the greatest increase in brand value (28.4%).
- The 150 brands in the sector have lost a cumulative 68 billion in brand value compared to 2020.
- Verizon extends lead ahead of AT&T as the world’s most valuable telecommunications brand, brand value increased 2% to 58.6 billion euros.
- Jio shines as the strongest and fastest growing in the world on the Brand Strength Index (BSI) with a score of 91.7 out of 100.
Madrid, February 23, 2021.- Euskaltel is already among the most valuable Spanish telecommunications companies in the world according to the report that assesses the 150 most valuable international brands in the sector, Telecoms 150 2021 from Brand Finance , the leading independent consultancy in valuation of intangibles whose rankings comply with the ISO 10668 and ISO 20671 of valuation and evaluation of brands respectively and that contributes with its brand value database to create one of the indicators of the UN Global Innovation Index (GII) . The American Verizon leads the brand value ranking with a value of 58.6 billion euros, + 2% compared to 2020.
With the Euskaltel Euskadi team back in “LaVuelta” after 8 years and results 24.5% higher than 2020 despite the coronavirus year, the Euskaltel brand is living a good brand trajectory, so much so that this year it has managed to enter the list of the most valuable in the world in a sector as competitive and internationally atomized as telecommunications. This year it has distributed a dividend of 25 million among its shareholders. According to the company, this would be the fifth consecutive year that it has managed to do so since it went public in 2015. In addition, it has signed a brand license agreement with the Virgin Group to use the Virgin brand ,one of the most recognized and respected brands in the world, in Spain and thus promote its national expansion strategy. The Virgin brand will coexist with the Group’s three established brands (Euskaltel, Telecable and R), which will continue to provide leading services in each of their respective regions. Euskaltel believes that the combination of its strong regional brands with the Virgin brand, which it will use at the national level, will provide excellent growth opportunities.
Teresa de Lemus , Managing Director of Brand Finance Spain : “Despite the isolation mitigated by calls and the increase in content consumption, the most valuable Spanish telecommunications brands have gone from a brand value of 11.0 billion euros to a value total mark 9.1 in one year¨
|Mark||Brand Value Ranking 2021||Brand Value Ranking 2020||Variation in Brand Value Ranking||Brand Value Variation|
Telefónica and Movistar, both brands of the Telefónica group, this year were hard hit by COVID-19, and this has been reflected in the value and brand strength of both firms. Both companies, the most valuable telecommunications companies in Spain, fell 4 places in the sector ranking to 68 and 17 respectively. Despite continuing to be the first Spanish to appear in the ranking (they are still among the first 100 in positions 17 – Movistar- and 68 -Telefónica- in terms of brand value) both companies have decreased their value by more than 20% ( -22.7% Movistar and -20.4% Telefónica).
The outlook for the group in the coming years is not very encouraging according to our analysts and the group is expected to experience lower growth in the next period. Despite the challenging environment, Telefónica remained at the forefront of developments in the sector. Its 5G network was activated with the goal of achieving 75% coverage by the end of the year in line with the brand’s message of “reaching as many households as possible.” Telefónica has suffered a setback in the field of play when the regulatory body, CNMC, has just ruled that the Spanish operator, the owner of the rights, will continue to be obliged to share them with its rivals, Orange between them, whether they want to or not, until 2023. They also launched “Movistar Salud” and performance improvements were implemented for “Movistar Prosegur Alarmas”.
Both Yoigo and Cellnex are among the 10 brands that have grown the most in brand value. The significant expansion of the Cellnex Group’s geographic footprint (Portugal, France, the UK and Poland) is the main reason for the firm’s rapid revenue growth despite the rumors of a possible merger with American Towers . Yoigo, for its part, has seen its brand value increase thanks to the increase in the income of the Masmóvil Group , of which it is part.
Teresa de Lemus, Managing Director of Brand Finance Spain: “Perhaps we will soon see other Spanish companies in the ranking, such as Red Eléctrica, which proposes the entry of new partners for the telecommunications business built around Hispasat and the fiber optic subsidiary Reintel. “
Brand Strength Ranking
At Brand Finance we establish the Strength of the Brand, the second most important variable in addition to the Brand Value, according to three factors: “Income”, activities that support the future strength of the brand; “Fairness”, actual current insights from our market research and other data provider partners.
|Mark||Qualification 2021||2020 qualification||Brand Strength Ranking 2021||Brand Strength Ranking 2020||Brand Strength Ranking Variation||Brand Strength Variation|
|Movistar||AA +||AAA-||65||40||-25||– 4.0|
|Telephone||A +||A +||138||119||-19||– 4.0|
|Cellnex Telecom||A +||AA-||122||113||-9||– 1.4|
This indicator has been negative for Movistar, Telefónica and Cellnex this year, with the two Telefónica Group brands falling 4 points, which fell 25 and 19 places in the strength ranking respectively, and -1.4 points from Cellnex Telecom, which fell 9 places to 113 Euskaltel is, of the Spanish companies, the one that registered the greatest increase (+5.7 points) followed by Yoigo (+2.6 points).
A sector that loses brand value and strength
The 150 brands in the sector have lost an accumulated 68 billion in brand value compared to 2020. In 2020, the 150 brands in the sector added an accumulated 624,742 million in 2020 compared to the 556,705 million recorded in this report.
The trend is reflected in Spanish brands. The 5 brands of 2021, including Euskaltel, add up to a total of 9.1 billion euros, -1.9 billion less than the sum of the value of the 4 Spanish brands that appeared in 2020, which amounted to 11.0 billion of euros.
In Spain, many operators put themselves at the service of their customers, including Movistar, the first to offer free content to their customers during the pandemic. All these actions affect the brand evaluation, so we will see the real impact on the brand strength index and its brand value in the coming years.
Verizon Retains No. 1 Ranking Worldwide and Region-wide
For the second year in a row, Verizon has been awarded the title of the world’s most valuable telecommunications brand after a 2% increase in brand value to 58.6 billion euros. This growth in brand value has not only driven it once again to position itself among the top 10 most valuable brands globally in the Brand Finance Global 500 2021 ranking , but has meant that the brand has continued to expand the gap that separates it from AT&T in second place (brand value down -18% to € 43.7 billion). A further 15 US brands are featured in the Brand Finance Telecoms 150 2021 ranking, with a combined brand value of € 150.6 billion.
From the 2 years ago when Verizon’s business transformation program began, Verizon 2.0 – focused on network transformation, go-to-market, brand, and business culture – the brand continues to make giant strides across the industry. The giant is widely recognized for being, among those in its category, the one with the best network and the widest coverage in the United States. And network usage increased during the pandemic, handling a staggering 800 million phone calls and 8 billion text messages a day. Verizon is making significant progress in its 5G expansion program, which now reaches more than 2,700 cities and 230 million people.
Teresa de Lemus, Managing Director Brand Finance Spain: “The Verizon brand is leveraging its brand strength to increase customer differentiation by migrating to unlimited plans and increasing adherence to content and partnerships such as Disney +, Apple and Discovery plus.”
Despite a 35.1% drop in brand value, making it the eighth fastest-falling brand in Brand Finance Telecoms 150 2021, Vivo (€ 1.3 billion brand value), is the most valuable telecommunications brand in South America. With the largest share of the Brazilian telecommunications market, Vivo is the leading fixed and wireless telephony brand in the country, even though it has been through difficult times in the last year due to the pandemic. However, the brand has taken steps towards innovation, using artificial intelligence to provide data that allows the Brazilian government to track the spread of COVID-19 throughout the country.
Other telecommunications brands in South America have also had complicated results such as the Argentine Personal (brand value of 215 million euros), which caused the brand to lose 55.8% of its value, becoming the third brand to suffer the most ranking drop. Personal’s Brazilian neighbor, Oi, is the fourth brand that has fallen the most, up 38.8% to 362 million euros. The brand has been plagued with financial problems in recent years, initially filing for bankruptcy in 2016 and running losses since. This has been compounded by the low levels of consumer recommendation and consideration we saw in our Brand Finance Global Brand Equity Monitor study, which has led to a decline in brand strength, as the Strength Index score of Oi’s brand (BSI) currently reaching 63.0 out of 100. The story is similar for the Chilean brand, VTR, which is the seventh brand that falls the most in the ranking this year, falling by 35.2% less, reaching 221 million euros. VTR’s drop in brand value is primarily attributed to a slight decline in revenue and an increase in weighted cost of capital over the past year.
Deutsche Telecom is crowned the most valuable brand in Europe
With a brand value of 43.5 billion euros, Deutsche Telekom has maintained its position as the most valuable telecommunications brand in Europe, moving up one place in the Brand Finance Telecoms 150 2021 ranking to third place. Following an impressive 20.6% growth in brand value, the fastest growing brand in the top 10, far outpacing the second fastest growing brand, Spectrum , which increased 4.8% to 18.2 billion euros.
As the largest telecommunications provider by revenue in Europe, Deutsche Telekom has reaped the rewards of its harvest by expanding to ultra-fast internet connections and increasing the popularity of its MagentaENIS service package. Last year, the German telecommunications brand also completed the merger of T-Mobile and Sprint in the US, which has significantly bolstered its total revenues, even despite the COVID-19 pandemic. With a successful merger under its belt, the telecoms giant is now looking back to Europe for further expansion, an effort likely to lead to greater success in the coming year.
Jio shines as the fastest growing and strongest brand in the world
In addition to measuring overall brand equity, Brand Finance also assesses the relative strength of brands, based on factors such as marketing investment, customer perceptions, employee satisfaction, and corporate reputation. Along with revenue forecasts, brand strength is a crucial factor in brand equity.
Indian telecom giant Jio is shaking up the industry as the world’s strongest telecom brand, with a Brand Strength Score (BSI) of 91.7 out of 100 and a Brand Strength rating of AAA +.
Despite its recent founding in 2016, Jio has quickly become the largest mobile network operator in India and the third largest mobile network operator in the world, with nearly 400 million customers. Renowned for his incredibly affordable plans, Jio took India by storm by offering 4G to millions of users for free, simultaneously transforming the way Indians consume the internet, which is even known as the ‘Jio effect’.
The dominance of the brand across the country is also evident in the results of the market research conducted by Brand Finance. Jio scores highest on all metrics – Conversion Consideration, Reputation, Recommendation, Word of Mouth, Innovation, Customer Service, and Value for Money – compared to its telecom competitors in India. The brand does not have major weaknesses within the sector and, unlike other telecom brands globally, Jio has shown that it has broken the mold and enjoys genuine affection from consumers.
In addition to being a prominent brand for its brand strength, Jio is the brand that has grown the most in the ranking in terms of brand value, breaking the negative trend present throughout the industry, with an increase from 41.5% to 4.1 thousand millions of euros.
The Indian brand Airtel also celebrated a strong year, jumping 12 points in the ranking to 23rd after increasing the brand value of 28.3% to 5.2 billion euros.
Despite registering a 27.8% drop in brand value, China Mobile (€ 32 billion brand value) remains the most valuable brand in the region, followed by China Telecom (down -37 , 4% brand value to 11.3 billion euros) and China Unicom (down -20% to 6.7 billion euros). Despite being in the Top 20 of Brand Finance Telecoms 2021, China’s top three telecom brands experienced more significant losses in brand value than any of their Chinese competitors.
There are several reasons for China’s declining performance within the sector, namely the decline in the number of subscribers, including large-scale cancellations of business phone numbers, and the torrential rain that resulted in some of the worst flooding in the region in more than two decades. In the first quarter of 2020 alone, China Mobile lost four million users and China Unicom lost 7.5 million. Additionally, the mid-year floods affected nearly a quarter of a million people, with 41,000 homes destroyed when the floods washed away buildings and telecommunications infrastructure.
MEA brands stand out for innovation
Etisalat has been crowned the strongest telecommunications brand in the MEA, with a Brand Strength Index (BSI) score of 87.4 out of 100 and a AAA brand strength rating, the only brand in the region to achieve this rating.
Thanks to its strategy in recent years and its recent achievement of becoming the fastest network on the planet, the brand was in a position to respond immediately to the ‘new normal’ of the pandemic, providing solutions and flexibility in a way that connect emotionally with consumers. Etisalat Group is aiming to become a truly global player.
“When COVID hit in 2020, Etisalat led from the front in ensuring business continuity, robust e-government, enabling smart cities and remote learning, to help drive the UAE’s digital future. By maintaining visibility and providing the nation with the fastest network on the planet, Etisalat has earned its place as the strongest brand in the region. “
STC is the most valuable brand in the region, its brand value rose 7.5% to 7.7 billion euros, simultaneously jumping 5 positions to 13th in the ranking. STC has recently doubled the capacity of its network, without ever compromising on customer service, something the brand takes great pride in. The brand has also achieved a AAA brand rating for the first time due to its branding and business transformation. With an increase of 4.4 points of strength, it rises an impressive 22 positions in the BSI ranking.
Note to editors
Every year, Brand Finance tests 5,000 of the largest brands, assessing their strength and quantifying their value, and publishes nearly 100 reports, ranking brands across sectors and countries. The 150 most valuable telecommunications brands in the world are included in the Brand Finance Telecoms 150 2021 report.
The full Brand Finance Telecoms 150 2021 ranking, additional information, charts, more information on the methodology, as well as definitions of key terms are available in the Brand Finance Telecoms 150 2021 report.
The brand value is defined as the net economic benefit the owner of a brand to achieve the grant brand license in the open market. Brand strength is the effectiveness of a brand’s performance on intangible measures relative to its competitors. See below for a full explanation of our methodology.
About Brand Finance
Brand Finance is the leading independent, international consulting firm in brand valuation and strategy, with offices in 20 countries. We create bridges between the areas of marketing and finance. We provide clarity to marketers, brand owners and investors when quantifying the financial value of a brand. For our experience in strategy; branding; market research; Visual identity; finance; Tax aspects and intellectual property, at Brand Finance we support the client to make the right decisions that optimize the value of a brand and the entire company by building bridges between marketing and finance.
Every year, the independent brand valuation consultancy Brand Finance values the most important brands in the world. More details on the methodology and terminology, as well as the definitions of terms can be found on our Brand Finance website .
Brand Finance collaborated in the development of the international standard on financial valuation of brands, ISO 10668, as well as in the recently approved standard on brand assessment, ISO 20671. Brand Finance is under the ICAEW regulations as a public accounting firm and is the first consulting firm in brand valuation to be part of the international committee on valuation standards, IVSC.
The brand is defined as an intangible asset related to marketing that includes, among others, names, terms, signs, symbols, logos and designs, intended to identify goods, services or entities, creating images and distinctive associations in the minds of the parties interested. , thus generating economic benefits.
Brand equity refers to the present value of earnings specifically related to brand reputation. Organizations own and control these profits by owning trademark rights.
All brand valuation methodologies are essentially trying to identify this, although the approach and assumptions differ. As a result, the published brand values may be different.
These differences are similar to the way that equity analysts provide business valuations that are different from each other. The only way to discover “real” value is by looking at what people actually pay.
As a result, Brand Finance always incorporates a review of what brand users actually pay for brand use in the form of brand royalty agreements, found in more or less every industry in the world.
This is sometimes referred to as the “Royalty Relief” methodology and is by far the most widely used approach to brand valuations as it is grounded in reality.
It is the foundation of a public ranking, but we always augment it with a real understanding of people’s perceptions and their effects on demand, from our market research database on 3,000+ brands in 30+ markets.
Brand valuation methodology
For our ratings, Brand Finance uses the simplest and easiest-to-understand method possible to help readers understand, gain confidence, and actively use brand ratings.
Brand Finance calculates the values of brands in their rankings using the Royalty Relief approach, a brand valuation method that meets the industry standards set out in ISO 10668.
Our evaluation of the Brand Strength Index or Brand Strength Index, a comprehensive scorecard of brand-related measures, also complies with ISO standards (ISO 20671) and works as a predictive tool of future changes in brand value and a dashboard to help companies improve marketing.
We do this in the following four steps:
- Brand impact. We review what brands already pay in royalty agreements. This is augmented by an analysis of how brands impact profitability in the sector versus generic brands. This results in a range of possible royalties that could be charged in the industry by brands (for example, a range of 0% to 2% of revenue)
- Brand strength. We adjust the rate higher or lower for brands by analyzing Brand Strength. We analyze the strength of the brand by looking at three main pillars: “Income”, which are activities that support the future strength of the brand; “Fairness”, which are actual current insights from our market research and other data partners; “Product”, which are brand-related performance measures, such as market share. Each brand is assigned a Brand Strength Index (BSI) score of 100, which feeds into the calculation of brand equity. Based on the score, each brand is assigned a corresponding brand rating up to AAA + in a format similar to a credit rating.
- Brand impact x Brand strength. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
- Forecast of the calculation of the brand value. We determine brand-specific revenue as a proportion of parent company’s revenue attributable to the brand in question, and we forecast that revenue by analyzing historical revenue, capital analyst forecasts, and economic growth rates. We then apply the royalty rate to the expected revenue to derive the brand’s revenue and apply the relevant valuation assumptions to arrive at an after-tax discounted present value equal to the brand’s value.
Brand Finance has produced this study with an independent and unbiased analysis. The derived values and opinions presented in this study are based on publicly available information and certain assumptions Brand Finance used when such data was poor or unclear. Brand Finance accepts no responsibility and will not be liable in the event that publicly available information subsequently relied upon is inaccurate. The opinions and financial analysis expressed in the study should not be construed as investment or business advice. Brand Finance does not intend to trust the study for any reason and excludes all liability to any body, government or organization.
The data presented in this study is part of Brand Finance’s proprietary database, provided for the benefit of the media, and should not be used in whole or in part for any commercial or technical purpose without the written permission of Brand Finance.
How Su Mei Teh moved from financial services to Google
Welcome to the latest edition of “My Path to Google,” where we talk to Googlers, interns and alumni about how they got to Google, what their roles are like and even some tips on how to prepare for interviews.
Today’s post is all about Su Mei Teh, the Asia Pacific Head of the Payments Product Operations team, based in Singapore. Su Mei shares how she moved from financial services to tech, and how the critical thinking and business management skills she honed applied to multiple roles at Google
What does your typical work day look like right now?
It’s usually full of meetings due to the collaboration between teams: They’re based across 12 offices in 8 timezones! I generally start the day with video conference meetings with colleagues in California and end the day meeting with colleagues in Europe. In between, I carve out time for focused work, such as writing a strategy document or reviewing a financial model.
Can you tell us a bit about yourself?
Outside of Google, I spend time with my family and volunteer with a variety of causes. I’m a founding member of the Singapore chapter of the Asian Google Network, an employee resource group that supports professional and personal development for the multicultural Asian community in Google. I also re-discovered my joy of singing by joining the Musicians @Google Singapore group.
How did you find the transition from financial services to Google?
When I got the offer to join the Google Ads team, I was in disbelief. Up to that point, I thought that my chances were slim as I had no prior digital ads experience and felt branded as a financial services professional. Thankfully, the critical thinking and business management skills that I had acquired could be applied in Google as well.
You don’t need to have a computer science or engineering background to be in Google. Google is such a diverse company with many products and services, which require many functions to support its operations and growth. Sales, project management, financial controlling, strategy, operations, legal, etc. All these are roles we have in Google that don’t require prior tech experience!
What has your experience been with internal mobility (moving to different teams) within Google?
My first role at Google was strategy and operations management on the Google Ads team. After a few years I wanted to get closer to the heart of product development, so I moved to payment product operations. I also wanted to satisfy some of my entrepreneurial appetite in a team that was essentially a start-up within Google. Lastly, payments and fintech (financial technology) were rapidly growing sectors. It was, and still is, an exciting time to be in that space.
What inspires you to come in (or log on) every day?
I’ve been working on a very fun (though intense) project — the relaunch of Google Pay in Singapore. We completely reimagined the Google Pay app to be more immersive and rewarding for our users. I learned to work with a lot of ambiguity, and picked up some new know-how in the process. It’s been heartening to receive compliments from friends at how much they love Google Pay.
What’s one thing you wish you could go back and tell yourself before applying?
I wish I had applied to Google earlier. I was filled with skepticism about my chances given I assumed my financial services experience wouldn’t be relevant. Speaking to people in Google really helped me realise that there were a large variety of roles, many of which made use of the skills I built elsewhere.
Do you have any tips you’d like to share with aspiring Googlers?
As with any job, there is an element of timing, so monitor Google’s career site and program alerts for roles you are interested in. While you wait for the right opportunity, build up your knowledge and work on better articulating the value and impact you can make so that you can avoid last-minute cramming when an interview opportunity comes along!
POSTED IN: MY PATH TO GOOGLE
LIFE AT GOOGLE
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