Results of a study on investor presentations conducted by NOBILI in 2013 on 140 largest public companies listed on the Warsaw Stock Exchange (all companies of the WIG20, mWIG40 and sWIG80 indices).

1. Presentations: an undervalued
investor
relations
tool
Piotr Biernacki Poland, Autumn 2013

2. #investor relations!
#presentations!
#design!
CEO @

3. We’ve done a study of
140 companies listed on the
Warsaw Stock Exchange
All companies of the WIG20, mWIG40 and sWIG80 indices (of over a total of 400+ companies listed on the WSE)

4. 4
Half of companies doesn’t
publish presentations in English...
53%
90%
70%
35%
WIG20
mWIG40
sWIG80
What percentage of companies publishes investor presentations in English on their
websites?

5. 5
... neither in Polish
53%
85%
68%
38%
WIG20
mWIG40
sWIG80
What percentage of companies publishes investor presentations in Polish on their
websites?

6. If we somehow publish
any presentations, then...

7. 7
We prepare presentations only
at financial results disclosure
4,6
All presentations
4,0
4,2
3,1
3,7
3,5
Fin. results presentations
4,1
3,5
0,6
Other presentations
0,6
1,1
0,2
WIG20
mWIG40
sWIG80
How many presentations has a company published in 2012? How many of them related to
financial results and how many to other corporate issues?

8. 8
Large caps prepare longer, but
lighter presentations
max: 58
max: 16,20MB
26
32
1,67MB
26
23
1,40MB
1,59MB
1,89MB
WIG20
mWIG40
sWIG80
How many slides counts the latest financial results presentations and how much does it
weight (in MB)?

9. 9
We try not to get sued...
55%
67%
WIG20
62%
mWIG40
Does the presentations include a legal disclaimer slide?
42%
sWIG80

10. 10
... and we definitely don’t
want to introduce ourselves...
22%
WIG20
14%
14%
9%
mWIG40
sWIG80
Are the presenters introduced or mentioned in the presentation?

11. 11
... because an investor might
want to ask us some questions
35%
56%
41%
18%
WIG20
mWIG40
sWIG80
Does the presentation include a personal contact to any of the presenters or the
company’s IR officer?

12. 12
In case of questions, someone may
probably answer them (anonimously)
56%
83%
52%
WIG20
46%
mWIG40
sWIG80
Are there in the presentation any contact details at all?

13. 13
Sometimes we try to help investors to
navigate through the presentation...
54%
70%
67%
28%
WIG20
mWIG40
sWIG80
Does the presentation include agenda / content’s summary / tracker slides?

14. 14
... but usually we don’t how
how to structure information
11
9
6
9
max: 33
36%
72%
31%
WIG20
mWIG40
21%
sWIG80
Does the presentation include a separated appendix / back-up section and how many
slides does this section count?

15. 15
We know how to synthesize
information...
74%
78%
76%
70%
WIG20
mWIG40
sWIG80
Does the presentation include an executive summary slide / summary of most important
facts&figuers?

16. 16
... but the presentation still doesn’t
communicate the company’s equity story
22%
33%
31%
WIG20
mWIG40
9%
sWIG80
Do the slides’ titles communicate the equity story (do they tell any story or are they merely
descriptions of what is shown on the slide)?

17. 17
Large caps assume that everybody
knows what is their business
52%
62%
67%
mWIG40
sWIG80
11%
WIG20
Is a business model / company profile included in the presentation?

18. 18
Usually we try to explain what
is our market...
71%
89%
79%
55%
WIG20
mWIG40
Does the presentation include an overview of the market?
sWIG80

19. 19
... and what has influenced our
latest financial results
66%
89%
59%
WIG20
61%
mWIG40
sWIG80
Does the presentation include a commentary to the company’s latest financial results?

20. 20
We don’t want to or know how to
predict where the market is heading
22%
39%
14%
WIG20
mWIG40
21%
sWIG80
Does the presentation include any forecast of market trends?

21. 21
We are afraid to talk about factors
influencing our future financial results
17%
22%
WIG20
14%
18%
mWIG40
sWIG80
Does the presentation include a financial results forecast / guidelines or any information
on factors that may influence these results in future?

22. 22
The corporate language
doesn’t include the word „risk”...
11%
3%
3%
WIG20
mWIG40
sWIG80
Are risk factors covered or mentioned in the presentation?
5%

23. 23
... but we like to talk in general
about our plans and intentions
59%
72%
WIG20
66%
mWIG40
46%
sWIG80
Does the presentation include information about the company’s strategy, operating goals
or planned investments?

24. 24
We (especially large caps) use
many difficult words...
45%
78%
35%
WIG20
36%
mWIG40
sWIG80
Are there in the presentation any industry terms or any other commonly unknown indices
that aren’t explained (in a glossary or footnotes)?

25. 25
... and we assume that
investors understand them all
22%
WIG20
7%
3%
mWIG40
9%
sWIG80
Does the presentation include a glossary or are difficult industry terms and unpopular
indices explained in any other way?

26. 26
We’re sure that everyone
knows who is our CEO...
6%
7%
12%
WIG20
mWIG40
9%
sWIG80
Does the presentation include a slide on the management / supervisory board and/or
structure of the capital group?

27. 27
... and what is the shareholders’ structure
of every company listed in Warsaw
20%
11%
WIG20
31%
mWIG40
15%
sWIG80
Does the presentation include information on shareholders’ structure?

28. 28
We don’t comment on our
company’s stock price...
12%
11%
10%
15%
WIG20
mWIG40
sWIG80
Does the presentation include a stock price and shares turnover chart?

29. 29
... but large caps help investors
to assess the company’s situation
14%
39%
7%
WIG20
6%
mWIG40
sWIG80
Does the presentation include any capital market indices or any other information helping
investors to assess the company’s situation (for example a list of sell side analysts)?

30. 30
In a 1-5 school grade scale we
get a (subjective) three minus (C-)
2,8
3,2
WIG20
2,8
2,6
mWIG40
sWIG80
General subjective evaluation of the presentation content: (in a Polish school grade scale
of 1(lowest) to 5 (highest))

31. And what about the
presentations’ design?

32. 32
Although not everyone
remembers about their logo...
99%
100%
97%
100%
WIG20
mWIG40
sWIG80
Does the presentation include the company’s logo?

33. 33
... it is usually the only graphical
element in the entire presentation
41%
52%
28%
WIG20
mWIG40
39%
sWIG80
Does the presentation include any logos of child companies or the company’s product or
service brands?

34. 34
Lack of any pictures of persons
related to the company
11%
3%
6%
WIG20
mWIG40
6%
sWIG80
Does the presentation include any pictures of employees or representatives (other than
stock photos)?

35. 35
Half of companies try to
illustrate what they do
53%
50%
55%
53%
WIG20
mWIG40
sWIG80
Does the presentation include pictures of its products, headquarters, factories,
instalations or any other pictures related to its operational activities?

36. 36
Few companies use pictures not
related to its operational activity
36%
33%
WIG20
48%
27%
mWIG40
sWIG80
Does the presentation include any other pictures (also stock photos not related to its
operational activity)?

37. 37
Generally we try to stick to our
corporate identity quidelines
3,2
3,2
3,5
WIG20
mWIG40
3,0
sWIG80
General subjective evaluation of the presentation’s consistency with its corporate identity
system: (in a Polish school grade scale of 1(lowest) to 5 (highest))

38. 38
Most companies don’t use
such basic tools as hyperlinks…
42%
61%
35%
WIG20
39%
mWIG40
sWIG80
Does the presentation include active hyperlinks (directing to content in the internet or
other slides inside the presentation)?

39. 39
... not speaking of more convenient
file formats or display tools
11%
17%
14%
6%
WIG20
mWIG40
sWIG80
Is the presentation available in any other format than pdf?

40. 40
In a 1-5 school grade scale we
get a (subjective) three minus (C-)
2,6
2,2
WIG20
2,9
mWIG40
2,5
sWIG80
General subjective evaluation of the presentation’s design: (in a Polish school grade scale
of 1(lowest) to 5 (highest))

41. How can we prepare
presentations?

42. Turn of the computer.
Read about what the presentation is
supposed to be about.∎

43. Start with an idea
It is the backbone of the presentation

44. Having the presentation flow in your head (and on
the wall), you can draw all the slides

45. time
it’s
then
Only
to prepare a digital version of the presentation

46. Thank you!
@piotrbiernacki
www.drivingtrust.com
slideshare.net/NOBILI
© Piotr Biernacki!
Graphical content of several authors is used in this presentation.!
No part of this presentation can be duplicated or used in any aim without the
author’s consent, except for your own education.!
The presentation includes results of the study on presentations conducted in
July 2013 by NOBILI PARTNERS Sp. z o.o. among 140 public companies of
the WIG20, mWIG40 and sWIG80 indices listed on the Warsaw Stock
Exchange.