Investor relations

In 2013 members of the Management Board took part in eight conferences and road shows during which approximately 100 meetings were held with more than 120 fund managers and analysts.

Effective and transparent information policy is a motto that the company has proclaimed from the beginning of its stock market history. Therefore TAURON Group places a lot of weight on communications with the investor community. We communicate not only through mandatory activities required by law (current and periodic regulatory filings) but also through many additional undertakings targeted directly at institutional and individual investors. The company is organizing events and participating in multiple conferences for investors, road shows in Poland and abroad, during which capital market participants can become familiar with the situation in TAURON Group and in the power sector, as well as with its prospects.

Each periodic report published by the company in 2013 was unveiled at a conference for analysts and fund managers during which members of TAURON’s Management Board discussed financial results provided in the reports and presented highlights of the reported periods. Following the presentations the Management Board provided exhaustive answers to numerous questions. The conferences were broadcast over the internet in Polish and in English, it was also possible to listen in to them over the phone. Thanks to that investors interested in the company were able to follow these events live and have access to information at the same time as persons physically present at the conferences.

In 2013 members of the Management Board took part in eight conferences and road shows during which approximately 100 meetings were held with more than 120 fund managers and analysts. Meetings with institutional investors took place not only in Poland but also in European and North American financial centers, among others in New York, London, Paris, Vienna.

In May 2013 the company organized the second edition of the event addressed to capital market participants – Analyst and Institutional Investor Day. During the event invited guests had an opportunity to meet TAURON’s Management Board and management team, as well as take part in the presentation session covering three main topics:

  • directions of changes on electricity markets in Poland and in the European Union,
  • approach to forecasting in the power sector,
  • 910 MW hard coal fired unit construction project at Jaworzno III Power Plant.

In 2013 the company continued its activities addressed to another extremely important group of  shareholders – individual investors. TAURON has been a strategic partner of the “Public Shareholding Program” initiated by the Ministry of State Treasury for several years. Its goal is to encourage Poles to actively and consciously participate in the country’s economic life by actively managing their savings and investing in shares of privatized companies and other stock market instruments. As part of the “Public Shareholding Program” the company’s representatives took part in meetings with individual investors during which they were conducting presentations and answering investors’ questions related to TAURON Group’s operations.

A lot of emphasis was also placed on promoting the “Public Shareholding Program” during conferences and events attended by the company. TAURON was also involved in the production of an educational film “Everything you would like to know about the stock market” and conducted image building and advertising activities on the corporate website and in TAURON Group’s magazine – “Polska Energia”.

The company also participated in other initiatives addressed to individual investors, among others as a partner of “Capital Market Games”, and supported the “WallStreet” conference for individual investors held in Karpacz.

TAURON provides quality and up to date content on its investor relations website which for a number of investors is the first point of contact with TAURON Group. Investor Relations’ section is updated on an ongoing basis and it includes a lot of useful information on important events, financial results, general meetings of shareholders, recommendations for the company issued by stock market analysts, as well as video broadcasts from earnings conferences.

2013 highlights and investor relations activities are presented in the below table.

2013 highlights and most important investor relations activities

#DateEvent
1. January 21, 2013 Participation in Citi/DM Bank Handlowy conference
2. March 15, 2013 Full year 2012 stand-alone and consolidated earnings reports published
3. March 15, 2013 Management Board’s meeting with analysts and fund managers to present the FY 2012 earnings report
4. April 5, 2013 Participation in KBC conference, Warsaw
5. April 9, 2013 Participation in DM PKO BP conference, Warsaw
6. April 11, 2013 Management Board’s recommendation on the dividend payout for 2012
7. April 11-12, 2013 Participation in Raiffeisen Institutional Investors’ Conference, Zürs, Austria
8. May 16, 2013 Ordinary Meeting of Shareholders of TAURON Polska Energia SA
9. May 9, 2013 Extended Q1 2013 consolidated earnings report published
10. May 9, 2013 Management Board’s meeting with analysts and fund managers to present the Q1 2013 earnings report
11. June 3, 2013 2012 dividend record date
12. June 18, 2013 2012 dvidend paid out
13. June 18, 2013 Participation in UniCredit/Kepler Cheuvreux Polish Day Conference in Paris
14. June 24, 2013 Analyst and Individual Investor Day at TAURON Polska Energia Dzień
15. August 22, 2013 H1 2013 earnings report published
16. August 22, 2013 Management Board’s meeting with analysts and fund managers to present the H1 2013 earnings report
17. September 9, 2013 Management Board’s meetings with investors at DM PKO BP
18. September 16-17, 2013 Participation in the 10th Annual Emerging Europe Investment Conference UniCredit/Kepler Cheuvreux, Warsaw
19. October 28, 2013 DI BRE Roadshow, Vienna
20. November 14, 2013 Extended Q3 2013 consolidated earnings report published
21. November 14, 2013 Management Board’s meeting with analysts and fund managers to present the Q3 2013 earnings report
22. December 3-5, 2013 Participation in UBS Global Emerging Markets Conference, New York