CE Award



The business management aspects of corporate excellence have been covered in specialist literature for more than 50 years now. In 2001, HQAM forerunner CEAMS was one of the first financial services providers worldwide to begin systematically and globally to apply the findings of the corporate excellence debate to stock selection. Now, as in the past, the company harnesses its experience in quality analysis to present the Corporate Excellence Award.  



With the Corporate Excellence Award, HQAM aims to carry the CEAMS legacy forward by above all seeking to recognize companies with excellent track records in terms of both their historical and current performance. Valuations are not taken into account. Thus, the purpose of the award is not to give any investment recommendation, or to ensure that a company will be able to maintain its ‘excellence’ status going forward.


7th Corporate Exellence Award


CEAMS extends Corporate Excellence globally


Corporate Excellence analysis extended to Germany and Austria. 
•    In cooperation with NZZ, FAZ, Die Presse


CEAMS extends Corporate Excellence analysis to Europe and Switzerland. 
•    In cooperation with NZZ (Neue Zürcher Zeitung)


CEAMS initiates the Corporate Excellence Award in the Baltics


Non-Quality investments lead to financial crisis: 
•    Poor quality financial firms hit first and hardest. 
•    Rest of low quality companies were to suffer afterwards 

Regional Winners 2017 NOR: Salmar ASA Salmon Producer FIN: Orion OYJ Pharmaceutical manufacturer UK: Burberry Group PLC Luxury fashion products NED: ASML Semiconductors AUT: Ă–sterreichische Post AG Logistics and postal services provider CH: Partners Group Holding AG Private markets investment manager ITA: DiaSorin Biotechnology EST: Apranga Clothing retailer SWE: Hennes & Mauritz AB International clothing company DK: SimCorp Provider of investment management software solutions and services BEL: Melexis NV Semiconductors GER: Rational AG Industrial food steamers FRA: Hermes International SA Luxury fashion products ESP: Inditex SA Multi-national clothing company LAT: SAF Tehnika Telecommunications equipment manufacturer LIT: Tallinna Kaubamaja Grupp Department store operator



Historic Winners


2017  Partners Group Holding AG

2016  Partners Group Holding AG

2015  Geberit AG

2014  Geberit AG

2013  Partners Group Holding AG

2012  Partners Group Holding AG

2011  Belimo Holding AG

2010  Belimo Holding AG

2009  Lindt & Spruengli


2017   Rational AG

2016   Rational AG

2015   Geberit AG

2014   Hennes & Mauritz AB

2013   Hennes & Mauritz AB

2012   Hennes & Mauritz AB

2011   Hennes & Mauritz AB

2010   Novo Nordisk

2009   Axis Communications AG


2017   Infosys

2016   Infosys

2015   Infosys

2014   lululemon athletica inc






The company’s business track record is determined independently on the basis of an objective analysis. The aim is to filter out the best companies, irrespective of sector, size, future expectations or momentum. Only their current quality counts. For that reason, a single analysis method is applied that treats all firms in the universe equally.   The first step is an analysis of the data for the past five years, and also for the current financial year. Companies that have not yet reported their figures for the current financial year are excluded, as are double listings and companies for which no data is available. The companies are initially analyzed on the basis of various quality statistics and characteristics, and rankings are drawn up.   Having ascertained the best 15 firms in each market, their data quality is checked and a thorough financial analysis is carried out. The top ten companies in each market are then subjected to an in-depth qualitative analysis and the results are documented in detail. This documentation and a suggested winner per market are then submitted to the jury for their decision.



Dr. Philipp Weckherlin CEAMS- CE Asset Management AG, Switzerland

Markus P. Hepp

CEAMS- CE Asset Management AG,


Prof. Dr. Max Ringlstetter

Chair for Business Administration, Organization and Human Resources, University of Eichstätt-Ingolstadt, Germany

Prof. Dr. Dieter Pfaff

Lehrstuhl für Accounting, insbes. Unternehmensrechnung und Controlling, University of Zürich, Switzerland

Baltic Corporate Excellence Award

The Baltic Corporate Excellence Award is a prize that is given to companies that qualify under the excellence criteria developed by the former CEAMS group. The award was first presented in 2008 upon the initiative of CE Services SIA in Riga, a research department of HQAM’s Zurich-based forerunner CEAMS. The key idea behind the project is to identify excellent companies in the Baltic stock universe and to motivate other exchange-traded companies to improve their corporate transparency, financial results and other aspects in order to become attractive investment targets. [NEW NAME], formerly known as CE Services, and its academic partner, the BA School of Business and Finance, believe that the initiative will help executives of Baltic companies to assess the factors and criteria which investors consider before making an investment decision.