Annual Report 2014

NCSC Board April 2015

NCSC mission statement and basis for work NCSC is the most professional, engaged and involved association within the shopping center industry in the Nordic countries, including all shopping formats, all locations and all professions, directly or indirectly engaged in shopping centers.

NCSC is the best network in the industry, has a high visibility and creates the best activities. The purpose of NCSC is to advance the shopping center industry and to promote its role in relation to other industries and to the society.

In 2010 a Business plan was adopted, stating the activities necessary to achieve the mission. This business plan has been the steering document for the work within NCSC since then.

Membership at yearend Country Companies Companies Companies People 2013 People People 2015 2013 2014 2015 yearend 2014 April 1 yearend yearend April 1 yearend Sweden 228 190 200 598 582 608 Norway 111 106 109 345 361 367 Denmark 44 44 46 97 89 95 Finland 24 24 25 68 65 93 Others 4 4 5 18 15 23 Total 411 368 385 1126 1112 1186

Revenues NCSC has three sources of revenues, being membership fees, sponsorships and surplus from events. The prices of membership were slightly increased 2014 (over a number of years membership fees were stable, not following general cost increases).

Sponsorships have grown substantially during the year. On behalf of the members the board wants to express a deeply felt gratitude towards the sponsors for their support, and to the management for its diligent work to achieve it.

Events are supposed to cover its costs plus a profit. Certain events are arranged, and mostly paid, by member-companies. The board is very thankful for this.

For the coming years the board hopes for, and indeed counts on a continuation and increase in both sponsorships and events arranged by member-companies.

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Staff NCSC as an organization would not function without the engaged individuals being its personnel. The members and the board is dependent on the staff, carrying out management, administration, marketing, project-leading and all other daily chores, which makes it possible for NCSC to be a relevant organization for our industry.

The members and the board are very grateful for the good, engaged and diligent work done by the staff.

During 2014 the following persons have been employed: • Marika Waern Managing Director Stockholm office • Annika Olsson Marketing Manager Nordics Stockholm office • Christine Lampe Marketing Manager Norway Oslo office • Staff of ICP / Per Nyborg Administrative support Denmark office, pro bono • Tina Korpi Project leader AGM 2015 Helsinki office, project engagement • Ebba Stålhem Administrative support Stockholm office, project engagement • Matilda Bergenudd Administrative support Stockholm office, project engagement

2014 Board, Nomination committee and Auditors President / chairman of the board • Wilner Anderson

Board Denmark • Per Nyborg Thomsen Country chair • Marianne Karlsen • Charlotte Sager • Claus Tüchsen • Torben Andersen deputy • Finn Sture Madsen deputy

Board Finland • Tuire Nyberg Country chair • Mika Ohenoja • Pia Rosvall • Lasse Yrjänä • Jaakko Ristola deputy • Heli Vainio deputy

Board Norway • Rolf O Svendsen Country chair • Line Victoria Bergh • Trond Herberg • Michael Rask • Lise Lind deputy • Jan Erik Løver deputy

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Board Sweden • Peter Hallberg Country chair • Wilner Anderson • Evalena Engström • Bernt-Olof Gustavsson • Martin Lindgren deputy • Lisen Pettersson deputy

Nomination committee • Ulf Attebrant Sweden Chair • Torben Andersen Denmark • Lise Lind Norway • Kaisa Vuorio Finland

Auditors • Carl-Johan Kjellman external, BDO Stockholm • Christer Carlson internal, Establishment Triumph

During 2014 the following meetings have been carried out: • Full Board (16 members) 2 meetings • Executive Board (5 members) 5+ (additional to FB + additional phone-meetings) • Country Board Denmark 5 • Country Board Finland 6 • Country Board Norway 5 • Country Board Sweden 5 • Nomination committee 2 (+ additional phone-meetings)

Networking One of the main purposes of NCSC is to be a platform for making contacts and growing your professional network. Regardless of the stated theme or purpose of a specific event, the networking is always an explicit or implicit goal.

The main events during 2014 have been: Nordic • Annual General meeting Oslo May • Retail Connections, Nordic Pavilion London, March • MAPIC show, Nordic Pavilion Cannes, November (incl. cocktails & dinner)

Denmark • Retail Arena Copenhagen, September

Norway • Shopping center conference October (Kjøpesenterkonferansen) Oslo/Gardermoen • Members seminar Oslo, February • 4 Breakfast meetings OHF Oslo • 2 «Industry coffee» Bergen and Oslo

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Sweden • Retail Arena Göteborg Gothenburg, September • Breakfast at NK Stockholm, September • Property refinement & the “digiphysical” consumer Stockholm, September • Shopping centers & Shops / NCSC Sweden Awards Stockholm, October • After Work Urban Escape at AMF Stockholm, November

Young professionals/ Next generation The importance of young, skilled and ambitious individuals joining our industry cannot be overstated. As a distinct Nordic initiative, connected and integrated to the wider framework of ICSC Next Generation program, the Young Professionals program has started. The aim is to create specific possibilities for younger talents and professionals to connect, learn and widen their networks, all for the benefit of their companies, themselves and the industry at large. The board is very grateful to Lotta Lehtonen, Asset manager at CBRE Global Investors, for her dedication to run this initiative and project.

Study tours and -visits To study different retail establishments, shopping centers, gallerias, shops, concepts, whether new, extended, changed or interesting for some other reason, is traditionally an activity arranged by NCSC, both inside the Nordic countries and outside them.

During 2014 the following study tours have been made: • Nordic / Dubai December • Norway / Germany-Dusseldorf March

Apart from travelling abroad the following study visits were made: • DK / Fisketorvet Copenhagen Mall • DK / Frederiksberg Centret • DK / Copenhagen Designer Outlet • DK / MASH • NO / Fornebu Senter og Oslo Lufthavn • SE / Ikano Retail Centres Kungens Kurva, Stockholm • SE / Mall of Scandinavia, Stockholm

Awards As recognition of outstanding performance the awards “Shopping center of the year” is given within each country, and among the country-winners the “Nordic shopping center of the year” is chosen. The jury-work behind the awards is quite extensive, the board is very thankful for the travels, judgments and all other work being carried out by the jury.

During 2013 the following shopping centers were the country-winners, leading to nomination for the Nordic Shopping Center Award 2014: • Denmark Metropol • Finland Veturi • Norway Gulskogen • Sweden Erikslund and the Nordic Award was given to Gulskogen, Norway.

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The Nordic jury had the following members: Lars Wester, Chair, Architect, Sweden Jesper Andreasen, Rödövre Centrum Real Estate, Denmark Olof Fredman, Expansion manager MQ Retail, Sweden Odd Gisholt, Dr Oecon Retail, BI Norwegian Business School, Norway Pertti Hakamäki Architect, Finland

In order to have as fair a comparison as possible, the criteria and the methods of evaluation have been made more similar over the last years, but there are still some issues to be adjusted. Work continues.

Education To run an educational program is a long tradition within NCSC. Over the years a number of professionals within our industry and members of NCSC have been through the courses with the general purpose of becoming better at shopping center management.

During the last two years NCSC has formed a joint program together with four educational institutions, KTH the Royal Institute of Technology in Stockholm, the Aalto University in Helsinki, BI the Norwegian Business School in Oslo and the Copenhagen Business School in Copenhagen. This kind of cooperation between four institutions across boarders is unique.

The success of the program rests very much on the continuous engagement and joint efforts from these four schools, the dedicated involvement of the teachers and the willingness from all to keep it together and running. The board does really appreciate the work done, and is deeply grateful. This program gives its participants the possibility to earn up to 20 academic credit points. About 20 participants each year have been through this new program.

Market research and analysis, Information distribution For quite some time it has been the ambition to create a Nordic-wide database with relevant facts for all shopping centers in the four countries. This is now taking shape through cooperation agreements between NCSC, HUI Research, Datscha and local suppliers within Denmark, Finland and Norway.

Another objective is to once a year, or every second year, deliver a report with a topic, relevant both for the industry and others with an interest in retail, shopping, real estate and connected issues. This year it will be a study of, broadly described, “How a retailer can succeed in each of the Nordic countries”. The study is to be presented in October in each country. As the report is sponsored by ICSC the Board wants to express its thankfulness for this.

In Sweden another study “Handelsplatsernas digitalisering” (approx. ”The digitalization of retail places) is carried out by NCSC, United Minds, IMIT (Institute for Management of Innovation and Technology). The project is financed by Vinnova, the Swedish state innovation agency.

During the coming weeks a new member survey will be done. It is of utmost importance that what the association does on behalf of its members, is of relevance to the members. Therefore the board wants to, now and then, carry out a survey in order to be able to adjust the activities if necessary.

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Cooperation ICSC Since 2012 there is a collaboration agreement with ICSC, the International Council of Shopping Centers, being the worldwide industry organization with ca 73000 members, giving each NCSC member full advantage of the international organization, its databases, courses, events etc.

To only point to one of the very important tasks, done by the various European ICSC committees, is the continuous dialogue with EU in all relevant matters. The initiatives and legislation originating in Brussels influences us all, speaking of retailing, shopping, construction permits, urban rejuvenation, financing, payment methods, e-tailing, consumer influence and so on and so forth.

The list is endless, the politicians are geared towards controlling all things, regardless of relevant knowledge, so having our international organization forwarding facts and opinions is very important. Other European ICSC committees are engaged in e.g. research, asset management, outlets, marketing etc.

It is an explicit goal, both for NCSC and ICSC, to have more professionals from the Nordic as members of the different committees and working groups, being representatives for NCSC and having the possibility to become important bearers of cross-border knowledge. Please volunteer!

ICSC strives to be supportive to national councils, such as NCSC. As examples of this, ICSC will this year pay the aforementioned study “How a retailer will succeed…”, and hold the European- wide Marketing conference in Copenhagen in June this year.

“Retail Connections” in London, a very effective meeting-place between retailers and landlords (speed-dating), where NCSC sublease an area, is a much appreciated product for cross-border retailers and landlords seeking new concepts and tenants.

Finally, it is fair to say that 2014 was a successful year with many interesting, well visited events, study tours and visits, seminars and other gatherings, and a continuous support by companies and individuals by becoming and staying on as members.

For this, and for the trust given to the Board, we say Thank You!

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