PZU’s investor relations

Striving to achieve the greatest possible transparency of the PZU Group’s business, the Management Board of PZU has regularly undertaken various investor relations activities aimed at ensuring equal access to information in accordance with the internally-adopted.

PZU’s shareholder structure

As at 31 December 2021, the State Treasury of the Republic of Poland held a 34.2% stake in the share capital and votes, and funds managed by Nationale-Nederlanden PTE held a 5% stake (according to PZU’s current report No. 17/2021). The remaining 61% stake was held by shareholders below the 5% threshold each.

According to a survey carried out at the end of 2021, PZU’s shareholder structure was stable in terms of the breakdown of stakes and geographies. The largest stakes, as in previous years, were held by investors from Europe, with Polish investors dominating.

At the end of 2021, the share of open-end pension funds and mutual fund management companies remained at similar levels to those in the corresponding period of 2020: it stood at 17.6% and 4.1%, respectively.

The percentage of retail investors in PZU’s shareholder structure increased slightly b 0.4 p.p. y/y to 8.8% at the end of 2021. The high percentage of individual investors was maintained on the entire main market of the WSE. In H1 2021 it was 24%, i.e. twice as much as in 2019.

Open-end pension funds and fund management companies in PZU’s shareholder structure

Source: PZU

Composition of PZU’s shareholders by geography

Source: PZU

PZU shareholder structure – main investor groups

Source: PZU

Percentage of retail investors in PZU’s shareholder structure

Source: PZU

Percentage of retail investors in trades on the main market of WSE

Source: www.gpw.pl

Communication with capital market players

In 2021, all corporate events held with capital market participants in mind were transmitted live in the form of a webcast (with simultaneous translation into English). Quarterly financial performance was presented and discussed by the PZU Group’s Management Board at online conferences, during which their participants had the opportunity to ask questions. Recordings of these meetings are available on PZU’s website in the “Investor relations” section at https://www.pzu.pl/en/investor-relations/downloads.

The most important events, achievements and plans were presented once again in the form of an online Annual Report at https://raportroczny2020.pzu.pl/en/. Users have been provided with a comprehensive tool enabling a multi-directional analysis of corporate and macroeconomic events as well as financial results. The report included interactive infographics, animations and video clips, which offered a succinct presentation of the PZU Group’s activity in 2020.

Calendar

25 MARCH

25 MARCH

27 MAY

16 JUNE

26 AUGUST

12 OCTOBER

18 NOVEMBER

Activities targeting institutional investors

The COVID-19 pandemic has permanently affected the way in which we communicate with institutional investors. Since early 2021, almost all meetings were held remotely via audiovisual messaging applications.

PZU’s representatives participated in 10 conferences and 2 non-deal roadshows held online by global investment banks and brokerage houses in Poland. We observed an increase in the number of group meetings. In total, more than 70 individual and group meetings were held, which gathered a total of 145 managers and analysts representing mutual funds, pension funds and other asset management firms. The largest interest in PZU’s activity was shown by investors from financial centers in Warsaw, London, Prague, Tallinn and Stockholm.

Locations of the head offices of institutional investors participating in remote meetings with PZU’s representatives (marked on the map as “interested investors”)

Investors' interest was marked on the basis of the number of investor meetings in 2021 and the country of origin of the investors; shareholding structure (excluding the State Treasury) at the end of 2021

Source: PZU

Activities addressed to retail investors

Following on its commitment of continuous contact with retail investors, PZU provided them in 2021 with reliable and up-to-date information on the Company’s business and financial results as well as on the insurance and banking industries.

Such information was provided in the form of online reports, newsletters, factsheets and other studies distributed by e-mail, and during direct (remote) meetings with investors, which enabled them to ask questions to PZU’s representatives. The latter included in particular:

• 25th WallStreet conference (the 11th, in which PZU participated) organized by the Polish Association of Individual Investors as an online event. The participants of the event had the opportunity to talk with the PZU Management Board Member in charge of the Finance Division and the Director for Investor Relations.
• chats dedicated to retail investors, organized after each publication of quarterly financial results and after the announcement of the strategy, hosted by the Member of the PZU Management Board in charge of the Finance Division.

Loyalty program for retail investors

In early September 2021, PZU launched a loyalty program for retail investors: mojeakcje.pzu.pl. Investors have the opportunity to receive:

• 10%, and after one year of participation – 20% discount for the insurance of: a vehicle (TPL, MOD, ADD Max), home, travel, crop, accident;
• 100% discount for annual basic membership or 50% discount for annual extended membership in the Polish Association of Individual Investors;
• access to specially prepared materials about PZU’s fundamental analysis.

Prizes and distinctions for IR activities

PZU’s investor relations activities are highly regarded by investors, analysts and the media. This was confirmed by the awards and distinctions awarded in 2021, including in the Best Annual Report 2020 contest organized by the Institute of Accounting and Taxes (Instytut Rachunkowości i Podatków):

• special award “The Best of the Best” (for the third time);
• special prize for the best integrated annual report in the Banks and Financial Institutions category.

IR strategy for 2022

The main objectives of PZU’s investor relations function in 2022 (continuation):

• strengthen good relations between the PZU Management Board and the community of investors, both in the local market and in the global market;
• ensure understanding of PZU’s new strategy among investors and analysts;
• secure a deep and broad market for PZU’s shares by continuing to build a diversified base (in terms of geography, numbers and profile) of an appropriate number of well-informed investors familiar with the company;
• ensure equal access to information;
• ensure sell-side research coverage, in particular among international investment banks;
• develop digital tools to address investor needs better, including by implementing new solutions in the online annual report and enhancing the functionality of the investor relations service.

PZU’s new investor relations initiatives for 2022:

• extend the scope of non-financial reporting with additional elements related to climate change;
• increase the degree of integration in the online report;
• develop the loyalty program for retail investors;
• measure and report any Taxonomy-related issues.

Investor contact:

Magdalena Komaracka

 

IR Director

tel.: +48 (22) 582 22 93

Piotr Wiśniewski

 

IR Manager

tel.: +48 (22) 582 26 23

PZU

al. Jana Pawła II 24,
00-133 Warszawa
ir@pzu.pl