ESMA_QA_1873

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1873

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Regulatory Context

Regulation : TRANSPARENCE

Level 1 Regulation: Transparency Directive (TD) Directive 2004/109/EC

Level 2 Regulation: No information available

Level 3 Regulation: Guidelines on Alternative Performance Measures

Topic: Alternative Performance Measures (APM)

Subject Matter: Concept of “corresponding previous periods”; Paragraph 37 of the APMs Guidelines.

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Question

Submission Date: 27 January 2017

How should the concept of “corresponding previous periods” in relation to financial reports, ad-hoc disclosures or prospectuses be applied by issuers or the persons responsible for the prospectus?

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ESMA Answer

Answer Date: 27-01-2017

[ESMA32-51-370 APM Q7] Issuers or the persons responsible for the prospectus should disclose figures for all periods presented i.e. where the financial reports or prospectuses have more than one comparative period, comparatives on the APMs should be provided for all prior periods presented. When APMs are included in ad-hoc disclosures, the “corresponding previous periods” should usually refer to the comparatives required by the interim/ annual financial statements as required by the applicable financial reporting framework.

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This document was automatically extracted from the ESMA EMIR Q&A database.