ABSTRACT

Investors and shareholders are the primary target audiences for the integrated annual report, while stakeholders and the general public are secondary targets. The core idea behind integrated reporting is that sustainability should not be a separate message. This chapter presents a case study of Novo Nordisk from a shareholder perspective. Novo Nordisk is the leader in diabetes care, and its mission is to defeat diabetes. Changing diabetes is the brand that embodies that mission. The major goals of integrated reporting are to increase financial valuation and to explore the relationship between Novo Nordisk's financial and non-financial performance. These objectives have both an internal and external dimension. The financial success of Novo Nordisk has accompanied its sustainability recognition. In 2012, the company announced that it enjoyed a 19 per cent increase in fourth quarter earnings over 2011. Novo Nordisk is renowned nationally and internationally for its integrated reporting.