The format of narrative reporting is unlikely to change this year, however the detail and presentation will require greater attention than in previous years. Investors require reassurance on continuity and resilience, both of which will need to be integrated across a number of areas of the report.
Who you are and what you do. Review and potentially update what your company does now and its societal purpose as needed post-pandemic.
Why the company is an investable proposition. Provide narrative and reassurance on resilience, future capability and availability of capital.
Articulate clearly how value is generated and delivered under the current conditions.
Give a true assessment of the challenges and opportunities, including assumptions, business context and impacts - what are the underlying drivers of commercial activity?
Articulate how you have had to change, develop or adapt.
Provide an active discussion of the business impacts, implications and mitigating activities driven by the new circumstances.
Develop your people disclosures, highlighting them as a strategic resource/driver to be protected, with emphasis on continuity (safeguarding intellectual capital).
Ensure you include a more rounded viability statement providing context: predictions, level of confidence, key assumptions, future scenarios considered.
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