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Companies listed on the prime market of the Vienna Stock Exchange may choose whether or not to publish quarterly reports (Q1 & Q3) and in what form. The respective amendment to the prime market rules enters into effect immediately. The companies listed in the top segment of the Vienna Stock Exchange are highly transparent and finely attuned to investors. Within the prime market framework, they will continue to fulfil stricter requirements than stipulated by law (Austrian Stock Exchange Act). So far, the quarterly reports of prime market issuers have been rather extensive by international standards. European stock exchanges such as the Euronext Group, the London Stock Exchange and the Swiss Stock Exchange also give the listed companies the freedom to choose their quarterly reporting policy.
"Together with their investors, companies know best what information is required in their industry and which reporting frequency is the most useful, especially in seasonal sectors and for cyclical business models. The message the Vienna Stock Exchange is sending is to look at the long-term horizon: investing is a marathon and not a sprint," says Christoph Boschan, CEO of the Vienna Stock Exchange and its holding company.
The European Transparency Directive has set the course for voluntary quarterly reporting in 2013. The Austrian Stock Exchange Act has had no mandatory quarterly reporting since the end of 2015.
