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Australia1002018The annual report on the most valuable Australian brandsFebruary 2018Brand Finance Australia 100 February 2018 3.Foreword.What is the purpose of a strong brand: to attract customers, to build loyalty, to motivate staff? All true, but for a commercial brand at least, the first answer must always be to make money. Huge investments are made in the design, launch, and ongoing promotion of brands. Given their potential financial value, this makes sense. Unfortunately, most organisations fail to go beyond that, missing huge opportunities to effectively make use of what are often their most important assets. Monitoring of brand performance should be the next step, but is often sporadic. Where it does take place, it frequently lacks financial rigour and is heavily reliant on qualitative measures, poorly understood by non-marketers. As a result, marketing teams struggle to communicate the value of their work and boards then underestimate the significance of their brands to the business. Sceptical finance teams, unconvinced by what they perceive as marketing mumbo jumbo, may fail to agree necessary investments. What marketing spend there is, can end up poorly directed as marketers are left to operate with insufficient financial guidance or accountability. The end result can be a slow but steady downward spiral of poor communication, wasted resources, and a negative impact on the bottom line. Brand Finance bridges the gap between marketing and finance. Our teams have experience across a wide range of disciplines from market research and visual identity to tax and accounting. We understand the importance of design, advertising, and marketing, but we also believe that the ultimate and overriding purpose of brands is to make money. That is why we connect brands to the bottom line. By valuing brands, we provide a mutually intelligible language for marketing and finance teams. Marketers then have the ability to communicate the significance of what they do, and boards can use the information to chart a course that maximises profits. Without knowing the precise, financial value of an asset, how can you know if you are maximising your returns? If you are intending to license a brand, how can you know you are getting a fair price? If you are intending to sell, how do you know what the right time is? How do you decide which brands to discontinue, whether to rebrand and how to arrange your brand architecture? Brand Finance has conducted thousands of brand and branded business valuations to help answer these questions. Brand Finances research revealed the compelling link between strong brands and stock market performance. It was found that investing in highly-branded companies would lead to a return almost double that of the average for the S&P 500 as a whole. Acknowledging and managing a companys intangible assets taps into the hidden value that lies within it. The following report is a first step to understanding more about brands, how to value them and how to use that information to benefit the business. The team and I look forward to continuing the conversation with you.Mark CroweManaging Director, Brand Finance AustraliaBrand Finance Australia 100 February 2018 5.Brand Finance Australia 100 February 2018 4.Foreword 3About Brand Finance 4Contact Details 4Definitions 6Executive Summary 8Full Table 12Methodology 14Understand Your Brands Value 15Consulting Services 16Communications Services 17Contents.About Brand Finance.Brand Finance is the worlds leading independent brand valuation and strategy consultancy. Brand Finance was set up in 1996 with the aim of bridging the gap between marketing and finance. For more than 20 years, we have helped companies and organisations of all types to connect their brands to the bottom line.We pride ourselves on four key strengths: Independence Technical Credibility Transparency Expertise.Brand Finance puts thousands of the worlds biggestbrands to the test every year, evaluating which are the strongest and most valuable.For more information, please visit our website:brandfinanceContact Details.For business and media enquiries, please contact:Mark CroweManaging Director Australiam.crowebrandfinanceFor all other enquiries, please contact:Australiabrandfinance+61 282 498 320linkedin/company/ brand-financefacebook/brandfinancetwitter/brandfinanceFor further information on Brand Finances services and valuation experience, please contact your local representative:Country Contact Email addressAsia Pacific Samir Dixit s.dixitbrandfinance +65 906 98 651 Australia Mark Crowe m.crowebrandfinance +61 282 498 320Brazil Geoffrey Hamilton-Jones g.hamilton-jonesbrandfinance +55 1196 499 9963Canada Bill Ratcliffe b.ratcliffebrandfinance +1 647 3437 266Caribbean Nigel Cooper n.cooperbrandfinance +1 876 8256 598China Scott Chen s.chenbrandfinance +86 1860 118 8821East Africa Jawad Jaffer j.jafferbrandfinance +254 204 440 053France Victoire Ruault v.ruaultbrandfinance +44 0207 389 9427Germany Holger Mhlbauer h.muehlbauerbrandfinance +49 1515 474 9834India Ajimon Francis a.francisbrandfinance +91 989 2085 951Indonesia Jimmy Halim j.halimbrandfinance +62 215 3678 064Ireland Simon Haigh s.haighbrandfinance +353 087 6695 881Italy Massimo Pizzo m.pizzobrandfinance +39 0230 312 5105Mexico & LatAm Laurence Newell l.newellbrandfinance +52 1559 197 1925Middle East Andrew Campbell a.campbellbrandfinance +971 508 113 341Nigeria Babatunde Odumeru t.odumerubrandfinance +234 012 911 988Romania Mihai Bogdan m.bogdanbrandfinance +40 728 702 705Spain Teresa de Lemus t.delemusbrandfinance +34 654 481 043 South Africa Jeremy Sampson j.sampsonbrandfinance +27 828 857 300Sri Lanka Ruchi Gunewardene r.gunewardenebrandfinance +94 114 941 670Turkey Muhterem Ilgner m.ilgunerbrandfinance +90 216 3526 729UK Richard Haigh rd.haighbrandfinance +44 0207 389 9400USA Amy Rand a.randbrandfinance +44 0207 389 9432Vietnam Lai Tien Manh m.laibrandfinance +84 473 004 468Brand Finance Australia 100 February 2018 7.Brand Finance Australia 100 February 2018 6.Definitions.Definitions. Brand Value+ Enterprise Value The value of the entire enterprise, made up of multiple branded businesses. Where a company has a purely mono- branded architecture, the enterprise value is the same as branded business value.+ Branded Business Value The value of a single branded business operating under the subject brand. A brand should be viewed in the context of the business in which it operates. Brand Finance always conducts a branded business valuation as part of any brand valuation. We evaluate the full brand value chain in order to understand the links between marketing investment, brand- tracking data, and stakeholder behaviour.+ Brand Contribution The overall uplift in shareholder value that the business derives from owning the brand rather than operating a generic brand.The brand values contained in our league tables are those of the potentially transferable brand assets only, making brand contribution a wider concept. An assessment of overall brand contribution to a business provides additional insights to help optimise performance.+ Brand Value The value of the trade mark and associated marketing IP within the branded business. Brand Finance helped to craft the internationally recognised standard on Brand Valuation ISO 10668. It defines brand as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.Commonwealth Bank of AustraliaBankwestBrand ValueBankwestBankwestEnterpriseValueBrandedBusinessValueBrandContributionBrand Strength IndexWidely recognised factors deployed by marketers to create brand loyalty and market share. Marketing Investment A brand that has high Marketing Investment but low Stakeholder Equity may be on a path to growth. This high investment is likely to lead to future performance in Stakeholder Equity which would in turn lead to better Business Performance in the future. However, high Marketing Investment over an extended period with little improvement in Stakeholder Equity would imply that the brand is unable to shape customers preference.Stakeholder Equity The same is true for Stakeholder Equity. If a company has high Stakeholder Equity, it is likely that Business Performance will improve in the future. However, if the brands poor Business Performance persists, it would suggest that the brand is inefficient compared to its competitors in transferring stakeholder sentiment to a volume or price premium.Business Performance Finally, if a brand has a strong Business Performance but scores poorly on Stakeholder Equity, it would imply that, in the future, the brands ability to drive value will diminish. However, if it is able to sustain these higher outputs, it shows that the brand is particularly efficient at creating value from sentiment compared to its competitors.MarketingInvestmentPerceptions of the brand among different stakeholder groups, with customers being the most important.Quantitative market and financial measures representing the success of the brand in achieving price and volume premium.StakeholderEquityBusinessPerformanceBrand StrengthBrand Strength is the efficacy of a brands performance on intangible measures, relative to its competitors. In order to determine the strength of a brand, we look at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding rating up to AAA+ in a format similar to a credit rating.Analysing the three brand strength measures helps inform managers of a brands potential for future success.InvestmentEquityPerformanceBrand Finance Australia 100 February 2018 9.Brand Finance Australia 100 February 2018 8.Executive Summary.Telstra Retains Top RankTelstra has retained the number one ranking as Australias most valuable brand for the third year in a row. Telstras brand continues to perform impressively across a number of brand attributes and brand investment, with a resulting 13.6% increase in value. The strength of the brand is in contrast to the overall decline in Telstras market value of 21%, highlighting the ever increasing importance of the brand in the organisations business strategy and for managing reputation. Telstra is also reaping the benefits of its customer-focused investments in the next generation of networks, claiming 120thplace in the Brand Finance Global 500.By way of comparison, Optus is the 9thranked Australian brand, having recorded a healthy 19% increase in brand value, mainly driven by strong customer brand equity. As a result of this increase, it has joined the Global 500 ranking as a new entry at 457th. Commonwealth Bank of Australia (CBA) has remained Australias strongest brand with a Brand Strength Index With Amazons Australian launch late in 2017 foreshadowing intense retail competition, local retailing brands will face a new challenge by the worlds most valuable brand.Mark CroweManaging Director, Brand Finance AustraliaExecutive Summary.score of 86.3. The major banks have all recorded another strong year with the top four achieving increases in brand value and brand strength. Macquarie as the 5thranked bank enjoyed the largest increase in value of 14%.While CBA and Telstra remain Australias strongest brands, the two exceptional performers are Qantas and Harvey Norman. While ranked 13thand 34th respectively in brand value, Qantas (3rd) and Harvey Norman (5th) are still in the top 5 Australia brands for brand strength.Qantas and its subsidiary, Jetstar, both maintained their brand values in the airline sector, with improved revenue performance. By contrast, domestic competitor, Virgin Australia, saw a decline of 10% to their brand value caused by turbulence in a transformation period.After a stellar run as Australias number one ranked brand from 2009 to 2015, Woolworths had slipped from 2nd place in 2016 to being the 5thranked brand in 2017, but is again on the up. Brand Value Change 2017-2018 (%)Top 10 Most Valuable BrandsRank 2018: 1 2017: 1 BV 2018: $12,436m BV 2017: $10,943mBrand Rating: AAA1+14%Rank 2018: 9 2017: 9 BV 2018: $3,946m BV 2017: $3,316mBrand Rating: AAA-9+19%Rank 2018: 10 2017: 11 BV 2018: $3,103m BV 2017: $2,474mBrand Rating: AA10+25%Rank 2018: 7 2017: 7 BV 2018: $5,833m BV 2017: $5,829mBrand Rating: AAA-70%Rank 2018: 8 2017: 8 BV 2018: $5,104m BV 2017: $3,947mBrand Rating: AA8+29%Rank 2018: 6 2017: 4 BV 2018: $6,507m BV 2017: $6,473mBrand Rating: AAA-6+1%Rank 2018: 2 2017: 2 BV 2018: $8,283m BV 2017: $8,207mBrand Rating: AAA2+1%Rank 2018: 3 2017: 3 BV 2018: $8,248m BV 2017: $8,124mBrand Rating: AAA-3+2%Rank 2018: 4 2017: 5 BV 2018: $7,145m BV 2017: $6,423mBrand Rating: AA+4+11%Rank 2018: 5 2017: 6 BV 2018: $6,574m BV 2017: $6,084mBrand Rating: AA+5+8%The StarRACVStocklandTransurbanLeightonAurizonLend LeaseThiessSeekComputershare-14%-16%-17%-22%-22%-25%-25%-26%-27%-37%548%70%70%56%55%54%49%49%48%44%Bendigo BankSevenBillabongIncitec PivotCGUSwannEnergyAustraliaCrownDevondaleIFCOBrand Finance Australia 100 February 2018 11.Brand Finance Australia 100 February 2018 10.Executive Summary.Brand Value Over Time Brand Value by Sector50Executive Summary.Top 10 Strongest BrandsBSI Score86.3BSI Score78.9BSI Score78.9BSI Score81.9BSI Score81.5BSI Score82.1BSI Score85.4BSI Score83.4BSI Score83.0BSI Score82.6After a period of rationalisation and consolidation, Woolworths is again climbing to be the 4thposition in the Brand Finance Australia 100 with an increase in brand value of 11%. Woolworths is also Australias number one ranked retail brand and has again staved off a strong challenge from Coles.BHP has achieved the highest increase in brand value of 29% among the top 10 Australian brands. BHPs rebranding campaign to drop Billiton from its name, combined with a back-to-heritage theme, has hit pay dirt with a very impressive increase in brand value, to not only rank 8thin Australia, but also the number one mining brand in the world.The buoyant engineering and construction industry has dominated the brands with the largest increases in value including Leightons (55%), Lend Lease (49%), Thiess (49%) and Boral (39%). Conversely the brands with the largest decrease in value include IFCO (37%), Devondale (27%), Crown (26%), Energy Australia (25%), Swann (25%) and CGU (22%). Colour Country Brand Value % of total(AUD bn)Banks 45
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