According to IR Magazine and the Global Investor Relations Practice Report 2019, the average number of investor meetings held by listed companies fell in 2019 by 8 percent since 2015, with European companies holding the most meetings, with an average of 234 one-on-one meetings. This is 46 meetings more than the global average, the report says. In contrast, North American companies held an average of 158 one-on-one meetings, 30 fewer than the global average.
The number of meetings varies considerably according to the size of the company: small caps held about 97 meetings per year, while mega caps attended an average of 316 meetings. Interesting: Senior management apparently participates less and less in roadshows – depending on the size of the company: In the case of small caps, the figure is 58%, while in the case of mega-cap companies, only 32% of senior management participates in roadshows.
While the number of roadshow meetings has fallen worldwide, the number of roadshow meetings at European companies has increased from 9.6 roadshows to 10.3 roadshows per year – astonishing when you consider the restrictions imposed by Mifid II.
According to the IR magazine article, some IR teams say that Mifid II would have made it more difficult to reach investors and get roadshow dates with investors. Other IR teams on the other hand stress that the regulations around Mifid II had led to the fact that they themselves had taken more control over the IR calendar and would have organised roadshows themselves.
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