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Why mid-term guidance matters more than ever now
Investors have always valued visibility, but the premium they place on it has risen considerably. In an environment shaped by macro volatility, rate uncertainty and ongoing geopolitical disruption, tolerance for ambiguity in corporate communications has narrowed, and the market is paying close attention to the quality of management thinking, not just the numbers they put out. Mid-term guidance has shifted, from a useful complement to annual reporting into a meaningful differentiator in how the market prices credibility and management quality, and the companies that handle it well tend to carry that dividend across their entire investor relations programmes.
Evolving best practice in annual reporting: An AI-assisted perspective
Annual report season is around the corner. Over the next few months, issuers will be knee-deep in drafting, aligning numbers with narrative and shaping the sections that investors actually use.
As teams lock into this year’s timetable, we looked back at recent practice to see what has really changed. We ran an AI-assisted review of annual reports from issuers on the AEX over the last three cycles, 2022 to 2024, analysing both text and visual content. Our aim was to understand how storytelling and disclosure are shifting and to draw out what good looks like for the season ahead. The themes reflect a broader international trend, providing an analytical window into the future of annual reporting best practice.
Finishing out the first year as a public company – pitfalls to avoid
Companies put enormous effort into getting to IPO day. The deal completes, the photo is taken and real life begins. Those first twelve months are not a victory lap but form a credibility window in which the market decides whether the equity story and the numbers hold up, as well as whether the leadership team can thrive within a publicly-listed entity. Private valuations are insulated from daily noise, listed prices are not. While volatility, sector rotations and macro headlines all play a part, most post-IPO underperformance is driven by things the company can control.
The changing face of activism in Europe
Activism has travelled a long road from the pension-fund discipline of the 1980s, through the governance mainstreaming of the 1990s and the hedge-fund expansion of the 2000s, to the post-COVID focus on portfolio shape and operating performance. The European version today is quieter in public and firmer in private, with alliances that mix local institutions and global capital with outcomes that lean towards board refresh, capital deployment and disciplined execution. The focus has shifted towards more local players, more negotiated tactics and proposals that link directly to value creation rather than theatre. The implication for boards is clear: arrive with a coherent equity story and defensible capital choices, or someone else will write the plan for you.
Active asset management in refocus: A potential new dawn for European SMID caps
The asset management landscape is inexorably shifting, with passive strategies dominating inflows. This is creating urgency amongst active managers, with the search for Alpha heightening the need for agile reallocation of capital. In Europe, this has brought renewed attention on small and mid-cap equities, opening a rare window of opportunity for those with the right narratives, execution and strategic engagement.
What’s next for stock exchanges? Rethinking the equity story of market infrastructure
Stock exchanges are facing an identity test. Once viewed as neutral matchmakers of trade, they are now expected to act as dynamic platforms that actively shape capital markets. The narrative is shifting, and so are investor expectations. What once counted as value is being reassessed, and exchanges are under pressure to prove their relevance in new ways.
What matters now: 10 strategic levers and the questions investors are really asking
How leaders are sharpening the equity story in a shifting macro landscape.
As we move through the first earnings season of 2025, executive teams are navigating a landscape shaped not just by familiar macro trends, but by increasingly complex and interlocking risks.
Day 74 of Trump 2.0: Implications of trade tariffs on supply chain strategies and currency exposure
Following day 74 of Trump 2.0, a global market sell-off appears to be the overriding response to President Trump’s announcement of an extensive tariff initiative, characterised as ‘Liberation Day.’ But what does this mean for companies’ supply chain strategies and USD currency exposure?
Beyond compensation: Enhancing transparency in remuneration reporting
As the AGM season in corporate Europe approaches, investors and proxy advisors are preparing to evaluate a deluge of annual reports and proxy statements. Among the key agenda items under scrutiny are director (re)elections, ESG initiatives and – most notably – executive remuneration. CEO pay, in particular, remains a focal point of media and investor attention.
Building an effective sustainability strategy: An interview with Darina Elencheva
In today’s complex and evolving sustainability landscape, a company must have a clear roadmap for creating a resilient and future-proof organisation. Companies that focus on material environmental, social, and governance (ESG) issues, align their sustainability strategy with corporate purpose, and effectively communicate with internal and external stakeholders can meet regulatory requirements and unlock long-term value. Sustainability isn’t just about compliance; it’s a strategic lever for driving growth, enhancing competitiveness, and making a meaningful impact in today’s world.
Investor Relations: The strategic key to valuation and business resilience
Investor Relations (IR) has evolved over the years beyond mere communication, emerging as a strategic driver that can influence valuation, enhance business resilience and generate a positive ripple effect across the organisation. Positioned at the intersection of corporate strategy and the investment community, IR bridges internal goals with investor expectations, ultimately optimising valuation and reducing the cost of capital.
Navigating corporate messaging priorities in 2024 – will progression overtake pragmatism?
Our positioning as a strategic management consultancy dedicated to investor relations and the capital markets allows us to glean an in-depth understanding of emergent market trends.
2023 guidance considerations
Ahead of the publication of FY 2022 results, a recurring theme in our recent discussions with clients has been the approach to providing guidance for the forthcoming year, given that the operating environment remains uncertain.
IR trends for 2021
2020 has accelerated recent shifts in IR practices with lasting impacts. Outlined below are the key trends we expect in 2021, and what they mean for IR capabilities and budgets.
The evolving approach to debt investor relations in 2015
Increasing levels of competition in the debt capital markets lead investors to adopt a more selective approach to their current and future investments.
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