Striving to achieve the greatest possible transparency of the PZU Group’s business, the Management Board of PZU takes various investor relations activities aimed at ensuring equal access to information.
„Principles for PZU to Conduct its Information Policy for Capital Market Participants”
According to current reports regarding the percentage of share capital and votes held by shareholders at the Shareholder Meeting, as at 31 December 2020, the State Treasury of the Republic of Poland held a 34.2% stake in the share capital and votes, and funds managed by Nationale-Nederlanden PTE held a 5.1% stake (Current Report No. 38/2020 of 30 December 2020). The remaining 60.7% stake was held by shareholders below the 5% threshold each.
According to a survey carried out among shareholders at the end of 2020, the shareholder structure in terms of stakes and geographies remained stable. The total stake held by domestic investors increased by 2.1 p.p. y/y, at the expense of foreign investors. This was likely partly related to the development of Employee Capital Schemes. The exposure of retail investors also increased, to 8.5%, or by 1.1 p.p. y/y.
The share of open-end pension funds and mutual fund management companies remained at similar levels to those in the corresponding period of 2019: it stood at 16.9% and 4.7%, respectively.
In terms of geographic mix, the exposure of Asian investors increased by 1.3 p.p. to 5.9%. At the same time, the exposure of investors from North America and Europe (excluding Poland) declined by 1.5 p.p. y/y to 13.2% and 2 p.p. y/y to 14.2%, respectively.
*Investors' interest was marked on the basis of the number of investor meetings in 2020 and the country of origin of the investors; shareholding structure (excluding the State Treasury) at the end of 2020
Source: PZU own study
In 2020, all corporate events held with capital market participants in mind were broadcast in the form of a webcast (with simultaneous translation into English). Quarterly financial performance was presented and discussed by the PZU Group’s CFO (and other PZU Management Board Members) at online conferences, during which their participants had the opportunity to ask questions. Recordings of these meetings are available on PZU’s website in the “Investor relations” section at https://www.pzu.pl/en/investor-relations/downloads.
The most important events, achievements and plans were presented once again in the form of an online Annual Report at raportroczny2019.pzu.pl/en. Users have been provided with tools enabling a multi-directional analysis of corporate and macroeconomic events as well as financial results. The report includes interactive infographics, animations and video clips, which offer a succinct presentation of the PZU Group’s activity in 2019.
Presentation of financial results for 2019
Ordinary Shareholder Meeting
Presentation of financial results for Q1 2020
Presentation of financial results for H1 2020
Presentation of financial results after Q3 2020
Activities targeting institutional investors
The COVID-19 pandemic has affected the way in which we communicate with institutional investors in particular. From February to the end of 2020, all meetings with such investors were held remotely via audiovisual messaging applications.
PZU’s representatives participated in 14 conferences held online (except for three in January) by global investment banks and brokerage houses in Poland (in 2019, 16 such conferences were held) and in 23 virtual events (in 2019, 40 such events were held). They gathered a total of 224 managers and analysts representing mutual funds, pension funds and other asset management firms.
In the interests of retail investors, PZU provided them in 2020 with reliable and up-to-date information on the Company’s business and financial results as well as on the insurance and banking industries.
Such information was provided in the form of online reports, newsletters, factsheets and other studies distributed by e-mail, and during direct meetings with investors, which enabled them to ask questions to PZU’s representatives. The latter included in particular:
Without interruption since 2012, PZU has also been participating in a program conducted by the Polish Association of Individual Investors called “10 of 10: Communicate Effectively”. Its purpose is to promulgate high communication standards between public companies and retail investors.
PZU’s investor relations activities are highly regarded by investors, analysts and the media. This was confirmed by the awards and distinctions awarded in 2020, including in the Best Annual Report 2019 contest organized by the Institute of Accounting and Taxes (Instytut Rachunkowości i Podatków):
The main objectives of PZU’s investor relations function in 2021 (continuation):
The main objectives of PZU’s investor relations function in 2021 (new initiatives):