Reporting Archive

Nov 17, 2020
Guidance: Restating, restarting and introducing some color
By mid-May 2020, as the Covid-19 pandemic continued to sweep the globe, 70 percent of S&P 500 companies had revised or withdrawn their earnings guidance, according to research from Gartner. Since then, however, we have learned to live – to some degree – with the new normal and, for some companies at least, the time has come to reinstate guidance. At Irish housebuilder Glenveagh, that time came in September, when it published its interim results under the hea...
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Nov 05, 2020
Aena adopts annual advisory vote on climate plan
Spanish airport operator Aena has adopted what is thought to be the world’s first annual advisory vote on a company’s climate action plan. The move follows intense pressure from The Children’s Investment Fund (TCI), which manages around $30 bn, for Aena to take a leadership role in the fight against global warming.  Under the proposals, passed at last week’s annual meeting, Aena will present its climate action plan for approval at the AGM in 2021 and...
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Oct 12, 2020
How has SRD II changed say on pay in Europe?
The Shareholder Rights Directive II (SRD II) handed European investors greater say over executive compensation. Under the rules, investors have a vote on both the remuneration policy and the remuneration report, which for some European markets represents a wholesale shift in corporate accountability over pay.  Below, Aniel Mahabier, CEO at C...
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Oct 01, 2020
MOL: Reinventing the ESG reporting wheel
MOL's Mikkel Skougaard likes to joke that the only people who used to read the sustainability report from cover to cover were him and the auditor. Now, though, anyone who has 15 minutes to spare can find out everything they need to know about the Hungarian oil and gas firm’s sustainability credentials. Last year the Budapest-headquartered company took a risk, bucking the trend for increasingly lengthy sustainability reports to produce a 10-page, 15-minute read for...
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Sep 16, 2020
Discretionary adjustments to executive compensation call for careful disclosure
In the wake of uncertainty about the coronavirus pandemic and its impact on public markets, many compensation committees are evaluating how to follow through on incentive compensation for their executive teams. This year has been anything but ‘business as usual’. In many cases, long-term equity awards granted before March 2020 have lost value and performance goals for annual bonuses have become unrealistic. Companies still want their compensation programs to mot...
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Sep 11, 2020
Six commonly asked questions (and answers) about quiet periods
Public healthcare companies often question the best course of action during quiet periods – those stretches of time during which they should limit their interaction with Wall Street due to their knowledge of material and timely information that has not yet been publicly disclosed.  Specifically, management teams struggle to figure out what the quiet period means for their investor relations efforts. Should they bring to a halt all communications with the investme...
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