PZU creates value through active communication with capital market participants, building trust and caring for good relationships.Management Board of PZU undertakes various investor relations activities aimed at improving transparency in PZU. Therefore, PZU has consistently applied “Principles for Powszechny Zakład Ubezpieczeń Spółka Akcyjna to Conduct its Information Policy for Capital Market Participants”, the Management Board's declaration adopted in 2012. It is available at PZU website in investor relations tab.
In 2013 the major goal of investor relations was to provide information on the activities and performance of the PZU Group in a transparent manner and to create a positive image of the entity among investors to ensure investors' confidence and satisfaction of shareholders.
Key corporate events in 2013 that generated most investor relation activities included quarterly publication of the financial performance and the shareholder meeting.
As part of its investor relations activity, PZU segments the target stakeholders to which individual communications are addressed.
In 2013, the ultimate addresses of IR activities include:
- institutional investors in Poland
- individual investors in Poland
- international institutional investors
- sell-side analysts (analysts of investment banks and brokerage houses)
The financial performance of PZU Group (for 2012, Q1 2013, 1H 2013 and Q3 2013) were presented and discussed by the Management Board during meetings with capital market analysts. The meetings, similarly to the General Shareholder Meeting, were broadcast live on the Internet.
In 2013, representatives of PZU participated in:
- three non-deal roadshow in Europe and the U.S. organized following the publication of 2012 results;
- ten financial conferences held abroad (in London, New York and Prague) with global institutional investors;
- two conferences for institutional investors in Poland;
- a number of group, one-on-one meetings and teleconferences with investors and stock portfolio managers held in PZU office. In 2013 PZU organized 180 meetings with nearly 300 institutional investors and nearly 120 meetings with analysts issuing recommendations concerning PZU shares.
Undertaken communication activities were addressed to thousands private investors. PZU especially for them:
- participated in two conferences for individual investors organized in Poland by Individual Investors' Association, in the 17th WallStreet Conference in Karpacz, the largest meeting of individual investors in Central and Eastern Europe and in the seventh edition of Professional Investor Conference in Władysławowo;
- organized four chats with individual investors, hosted by a PZU Management Board Member in charge of Finance Division in PZU Group after publication of 2012 financial performance and the results for Q1 and 1H of 2013;
- participated in 10 na 10 – Komunikuj się skutecznie (Score 10 of 10: Communicate Effectively) meeting aimed at creating of high communication standards for listed companies to reach individual investors.
Investor calendar 2013
Download investor calendar for 2013.Download .xls file.
For the latest investor events please visit PZU’s website in the IR section.
Since its IPO, PZU has been partnering and actively participating in Akcjonariat Obywatelski project. Akcjonariat Obywatelski is an initiative for private investors started by the Ministry of Treasury during the IPO of listed entities: PZU, Tauron Polska Energia and the Warsaw Stock Exchange.
Activities of PZU regarding investor relations are highly appreciated both by investors, analysts and media. Recognition won in 2013 in this respect included:
- In the EXTEL survey performed for the first time in 2013 for WSE companies, PZU received the following awards:
- Przemysław Dąbrowski won the first place as CFO Best for Investor Relations in Poland, obtaining 57.14 of votes.
- PZU was ranked fourth in the Corporate Best for Investor Relations in Poland category.
- Piotr Wiśniewski, RI Head in PZU, was ranked fourth in IR Professional Best for IR in Poland.
Extel survey, performed for 15 years by Thomson Reuters, is recognized as one of the key industry rankings and the source of knowledge of best practices on the capital market, including communication with investors. High standards and quality of the survey are confirmed by Deloitte, its external auditor.
- PZU won the title of Capital Market Hero in the second edition of this survey held by Individual Investors' Association among its members. The purpose of the survey is to look for companies that meet top standards in communication with investors and individuals who contribute to the building of knowledge of the capital market and its transparency;
- PZU won also Spółka przyjazna inwestorom certificate (Investor Friendly Company). It has been recognized as an entity maintaining high reliability of its information policy and protecting the rights of investors through a committee manned by representatives of Individual Investors’ Association;
- the first place for the best annual report for 2012 among banks and financial institutions during The Best Annual Report contest organized by Instytut Rachunkowości i Podatków (Accounting and Tax Institute). PZU is the only financial institutions to be recognized for Useful Value of Annual Report. The Best Annual Report contest has been organized since 2005 and is to promote annual reports with most value for shareholders and investors.
IR objectives in 2014
IR’s major objectives in 2014 are as follows:
- securing a deep and broad market for PZU’s shares by coordinating investor-friendly measures to build a diversified base (in terms of geography, numbers and profile) of an appropriate number of well-informed investors familiar with the Company;
- securing a fair valuation of PZU’s shares from analysts in investment banks and brokerages (sell-side) by providing analysts with reliable and high quality information pertaining to PZU’s operations, industry trends, factors affecting financial performance and active feedback after analyzing the information in their reports and recommendations;
- setting standards in investor relations that may serve as an example to be followed by other public companies.
The investor relations activities conducted in 2014 will be addressed to the following target groups of capital market players:
- asset managers for institutional investors (in Poland and abroad),
- buy-side analysts (in Poland and abroad),
- retail investors in Poland,
- sell-side analysts (in Poland and abroad),
All the activities addressed to capital market players and employed in 2013 are slated for continuation, in particular:
- maintaining a high level of interest in PZU’s shares among investors and analysts by organizing dedicated meetings and participating in investor conferences in Poland and in the world:
- 2 to 3 non-deal roadshows in the US and Europe,
- 4 meetings with the Management Board for analysts after publishing quarterly results,
- 4 chats for retail investors after publishing quarterly results,
- participating in conferences for institutional investors in Poland and abroad,
- participating in conferences for retail investors, including: (organized by the Polish Association of Individual Investors: Wall Street and Professional Investor),
- Continuing the activities taken to date in the Polish Association of Individual Investors’ program entitled „Communicate effectively and score a 10 on a 10-point scale”,
- Holding investor meetings in the Company’s registered office to the extent required by investors and analysts, with the number of one-on-one meetings to grow
- maintaining the current extent of coverage of PZU’s equities by sell-side analysts
- actions to retain PZU’s position in indices consisting of companies espousing the principles of sustainable growth (RESPECT, CEERIUS),
- cooperating with the Association of Stock Exchange Issuers,
- participating in the Citizen Shareholder program,
- publishing information materials about PZU fitted to the needs and expectations of capital market players (e.g. FactSheet, Newsletter, Annual Report for marketing purposes)
In addition, new activities are planned to respond to the needs reported by investors and analysts, in particular:
- preparing PZU’s 2013 Annual Report in an on-line version;
- undertaking efforts to launch a modern corporate investor relations service which will be the first source of information about PZU;
- preparing an Investor Kit (containing the equity story, current financial statements, the most recent presentations, a factsheet and key corporate information).