The Q1 Earnings period is running at full speed at the moment. The latest week 131 Nordic companies have presented their results for the first quarter.
Sculptor IRs mapping of how many Nordic companies that so far has tweeted their results for the first quarter (i.e linking to a press release or a webcast) shows that the Nordic companies not yet has adopted Twitter as a tool for investor relations.
Less than a quarter (23 %) of the companies have a twitter account and of those a majority (60 %) did not tweet anything about their Q1 Report (see table below).
Although there are several examples of best practice among those companies that did tweet their Q1 earnings call. Nordnet, an internet broker in the Nordic region listed on OMX Stockholm in the mid cap segment live tweeted from their Q1 presentation April 21. You can see all live tweets by searching for #nnq110 on Twitter (in Swedish).
Axis Communications, a Swedish IT company is another best practice example in the mid cap segment. The company first tweeted a reminder of the teleconference as well as a short summary of the overall results, linking to a press release on their websites. See example below.
But the mapping of Nordic companies use of social media also reveals several cases of worst practice. Companies seem to have created Twitter accounts, but are lacking strategy and policies of what and to whom they aim to communicate with. I can understand IROs fears about potential compliance risks by having inexperienced (non-IR) employees managing a Twitter account. But that is no excuse of not using social networks for investor related information.
Dominic Jones, founder of IR Web report (one of the most read IR blogs) wrote a highly recommended post last week stating the following:
”By failing to get involved in their companies’ social media activities — and using regulation as a convenient cover — investor relations departments have left their companies exposed to regulatory sanction and shareholder litigation.”
See Investor relations can no longer ignore social media compliance risks to read the post.
We will continue to map how Nordic listed companies have used Twitter when reporting their results from the first quarter and get back to you with a overview when the Q1 Earnings period ends in a couple of weeks.