Top 10 Online Annual Reports from Canada

Online annual reports empower companies to engage shareholders and analysts like never before.

Custom downloads, interactive graphs, and vivid videos are just some of the ways that online reports can outshine their static PDF and paper counterparts.

Some online reports shine just a little brighter than others. In our research on the DACH region, we highlighted some contenders for best online reports of the year. For Canada, we’re going a step further and ranking our favorites.

In our research on Canada’s digital IR landscape, we identified 17 online annual reports among the 60 companies surveyed. We scored each of the online reports based on a number of criteria, including completeness, mobile-friendliness, capabilities, design, technology, and experience. Who had the best report in the Great White North? Read on to find out!

#1: Bank of Montreal / BMO Financial Group

BMO ran away with this year’s top spot—this report simply has everything you could ask for in terms of features and design.

Why it’s great:

− Sleek, sophisticated presentation, especially the video background on the home page that engages without distracting
− Responsive design and stellar web tech throughout
− Robust capabilities, including the ability to create custom PDFs, download Excel sheets, and interact with graphs, along with a handy glossary and note-taking tool

Where it falls short:

− While you can add individual pages to a custom “My Report,” you can only download them one-by-one

#2: Royal Bank of Canada (RBC)

Coming in at a close second, RBC’s long scrolling page manages to pack an impressive amount of features into a tidy package.

Why it’s great:

− Clean, modern, and responsive web design with dynamic effects
− Bite-sized video messages from the CEO, CFO, and CHRO
− Useful features, like customizable PDFs, interactive charts, and a reader-friendly glossary

Where it falls short:

− The financial data is only accessible as a PDF download—not an Excel file
− The “custom report” feature downloads a zip file with various PDFs in it, rather than a single, customized PDF

#3: Cameco Corporation

As one of only two complete annual reports from the 60 Canadian companies surveyed, Cameco deserves a ton of credit—and could have stolen the #1 spot if not for a couple critical shortcomings.

Why it’s great:

− Complete report that includes all financial information and notes of a printed annual report
− Strong presentation with dynamic charts

Where it falls short:

− It’s one of the only online reports that’s not responsive, an essential feature in 2016
− There are no notable tools or innovative features

#4: Thomson Reuters

You’d expect a globally recognized media company to present its annual report well—and you’d be right.

Why it’s great:

− Stylish, pleasant design with fantastic photography and an engaging home page
− Extremely intuitive navigation and perfect responsiveness
− Commendable presentation of financial results

Where it falls short:

− While well written, much of the content is a bit fluffy for our tastes
− As great as the financial section is, it gets a bit muddled with its use of charts, tables, notes, and footnotes; we’d prefer complete financial statements with hyperlinked notes

#5: Telus

The telecom’s report provides the perfect mix of high-level highlights and well chosen details.

Why it’s great:

− Meticulous design that’s a joy to navigate
− Excellent use of web technology, like the horizontal bar that shows your progress as you scroll

Where it falls short:

− While the baby animal images are fun, some of them are far too high-definition; one page contains a 7.5MB photo of a leopard kitten that significantly slows the loading time
− The report lacks any tools to create a custom PDF or download Excel files
− On first blush, the cute animals are sweet, but start to feel a bit saccharine as you see them everywhere

#6: Eldorado Gold

While it’s not a traditional annual report, this “Year in Review” report still makes a golden impression.

Why it’s great:

− Dynamic visual presentation with simple, eye-pleasing graphics
− Responsive design that looks great on a mobile phone or tablet
− Impressive depth, like the GRI table with links to more information

Where it falls short:

− The navigation could use a little work; it’s easy to lose track of your place as you read through it
− Overall, the online report feels a bit too much like a template, even though the strong content shines through

#7: CIBC

This bank’s report feels a bit outdated, but has a couple saving graces that keep it in our Top 10.

Why it’s great:

− Fantastic CEO video with downloadable script—the best CEO video message of any Canadian company
− Lots of content—though most of it is only available via downloads

Where it falls short:

− While responsive, the web design looks more like an annual report for 2005, not 2015
− Only the 10-year data is downloadable as Excel files, not the actual financial statements

#8: Toronto-Dominion (TD) Bank

While this is about as bare bones as an online annual report can get, it still beats out the ninth and tenth contenders.

Why it’s great:

− Messages from the CEO, Chairman of the Board, and CFO
− Helpful glossary available as a download

Where it falls short:

− The online presentation is shockingly thin, with only the three messages and downloadable offerings

#9: Yamana Gold

The penultimate report on our list has a few nice aspects, but fails to impress overall.

Why it’s great:

− Wonderful photography of their machinery and equipment
− Responsive design

Where it falls short:

− The design follows a simple template that we’ve seen before
− Most egregiously, the online report is hosted on the supplier’s domain—not the client’s

#10: Kinross

Rounding out our Top 10, Kinross’s report is surprisingly shallow for a mining company that digs deep.

Why it’s great:

− Great graphics and readable font

Where it falls short:

− More than any other report on this list, the summary is extremely thin and superficial
− Like Yamana Gold, the report is hosted on the supplier’s domain instead of the client’s, a sloppy mistake in 2016

Why Other Reports Failed to Crack the Top 10

In a field of just 17 online reports, the Top 10 started to feel a bit lackluster towards the end. In a spirit of constructive criticism, let’s briefly explore what went wrong with the seven other online reports.


What went wrong?

− This site is little more than a collection of links to download different parts of its complete annual report

Bank of Nova Scotia / Scotiabank

What went wrong?

− Mediocre at best, the site is thin on content and features hard-to-read, low-resolution infographics and figures

Rogers Communications

What went wrong?

− This site feels like a direct conversion of a brochure, with a dull layout and tables presented as static images

Bell (BCE)

What went wrong?

− This site is well-hidden, with no link on the main IR page—and they’re right to hide it; this is a sloppy conversion from PDF with horrible navigation

Barrick Gold

What went wrong?

− Sinking below the bare minimum, this hardly qualifies as an online annual report—with only a CEO message and downloads, it’s more like an IR web page


What went wrong?

− This is actually more of an “annual review” report; that combined with the poor navigation and odd integration into the corporate site keeps it out of our Top 10

Agnico Eagle

What went wrong?

− Yet again, we have another report hosted on the supplier’s domain instead of the company’s, an easily avoidable misstep that looks lazy

That’s it for Canada’s cheers and jeers! Stay tuned to Tangelo’s site for more IR research on other countries and trends.

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