Investor Relations

120INVESTOR RELATIONSA table featuring the main figures and indicators for the previous andcurrent years, highlighting any notable changes;A message from the CEO and/or a summary outlook.Following pages may include the following:Comments on the performance achieved in the reported period, analysisof the main items of the income statement, balance sheet and cashflow statement, description of trends in environment, businesses andgeographic areas where operations are located;Events occurring after the financial statements were closed, or “postcloseevents”;Outlook;Reminder of next publication date or financial calendar;Information about analysts’ meeting and, where appropriate, conferencecall;A brief description of the company (also known as the “boiler plate”).Appendices will usually include the following:Consolidated financial statements: income statement, cash-flowstatement, balance sheet, segment reporting;Supplemental information in the form of Q&A ordered by division(“What is the geographical revenue split?”) or by topic (“What was thecompany’s net debt at the end of the quarter?”). This is a highly differentiatingway of providing information to the market. It does requireadditional work, but it demonstrates that the company is eager to facilitatethe analysts’ job and to enhance transparency. Another goal mightbe to ensure that the most frequently asked questions are covered beforethe analyst meeting or before the earnings conference call starts, andthat management’s time be best used to answer strategic questions.When this format is applied, the first page can also be used in a PDA(personal digital assistant)-friendly mode: The title becoming the subject ofthe e-mail (“XYZ reports 15% increase in net income in the first quarter”)and the information contained on the first page of the press release included