Investor Relations

CONTENTSvii3.3 Understanding Market Expectations 903.3.1 Form 903.3.2 Content 913.4 Developing the Financial Calendar 933.4.1 Who Prepares the Financial Calendar? 933.4.2 Financial Calendar Content 983.4.3 Publication of the Financial Calendar 993.4.4 Quiet Periods 993.5 Crafting Compelling Messages 1003.5.1 Writing Clearly 1023.5.2 Financial and Strategic Messages 1023.5.2.1 The business environment 1023.5.2.2 Organization 1033.5.2.3 Human resources 1043.5.2.4 Commercial, technological, and financialperformance 1043.5.2.5 Business model 1053.5.2.6 Strategy 1073.5.2.7 Risk factors 1083.5.3 Outlook 1083.5.3.1 Forecasts, objectives, outlook and guidance 1093.5.3.2 Selecting guidance indicators 1093.5.3.3 Choice of time horizon 1103.5.3.4 Updated outlook 1113.5.3.5 Profit warnings and preannouncements 1123.5.4 Shareholder Value Creation 1133.5.5 Mergers and Acquisitions 1153.5.6 Corporate Governance and Internal Control 1163.5.7 Corporate Social Responsibility andSustainable Development 1173.5.8 Investor Relations for Employee Shareholders 1173.6 Selecting and Implementing Investor Relations Tools 1183.6.1 Press Releases 1193.6.2 Visuals, Presentations, and Slideshows 1213.6.2.1 Form 1213.6.2.2 Content 1223.6.3 Online Investor Relations 1233.6.3.1 Basic principles for Web site construction 1233.6.3.2 Site content 1243.6.4 Blogs and Social Media 1263.6.5 The Annual Report 1273.6.5.1 The purpose of the annual report 127