Investor policy

Purpose of IES investor relations

  • Provide the capital markets with timely, relevant and balanced information to ensure good liquidity and a fair share price.
  • Ensure that existing regulations and ordinances are followed.
  • Ensure that investors view IES as an accessible, trustworthy and professional actor.

Basic principles

All communication from IES should be published at the right time, and be accurate and up to date. The publication of information should be in accordance with the EU Market Abuse Regulation, applicable laws and ordinances, and Rules for Issuers, including guidelines and recommendations from Nasdaq Stockholm.

Review of financial analysts’ reports

If and when financial analysts request that IES reviews draft reports, such reviews should be limited to correcting facts and information that is public, general discussions regarding the drivers of the sector, and market growth factors. Financial models should not be reviewed.

Blackout period

To mitigate the risk of information leaks, and to avoid any suspicion that stakeholders have received access to insider information, IES applies a “blackout period” of 30 days prior to the publication of annual or interim financial statements. In this period, IES’s representatives should refrain from responding to questions or commenting on financial progress with reference to this blackout period. However, obvious factual errors can be highlighted or corroborated when a financial analyst requests a comment on research or reports, providing the information in question is publicly available. It may also be permitted to submit information on circumstances that were previously published, to correct misunderstandings, inaccurate calculations, demonstrable errors, and to offer sector statistics—all providing that the underlying factual information is publicly available. No comment on forward-looking financial information is permitted.

Disclosure of earnings

The disclosure of earnings reports should be through relevant news services and be available for analysts’ meetings and conference calls in accordance with decisions by the IR function. Otherwise, IES’s main communication channels with investors are conference calls and webcasts, investor conferences including roadshows, sector and investor conferences and capital markets days, as well as other infomative events.