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Top position with Forbes

April 24, 2003, 12:10 CEST

The US business magazine Forbes has ranked Statoil as one of the world's 400 best listed companies. Only two other Norwegian companies made the 2003 list.

Forbes has evaluated 1100 listed companies with a market value or turnover of over NOK 35 billion. The assessment is based on sales growth, profit and return on invested capital over a five-year period. The analysts' expectations for the future and developments in the share price are also contributing factors.

"A position on such a list is a quality stamp and of course beneficial," says Ove Gusevik, managing director of corporate finance in the First Securities brokerage firm.

In the capital market this kind of ranking is one of several elements considered in the overall assessment of a company, comments Mr Gusevik.