On 17 April 2020, the European Securities Markets Authority (ESMA) published a Q&A on the implementation of the ESMA Guidelines on Alternative Performance Measures in the context of COVID-19.

 The Q&A: 

1. highlights the main principles of the ESMA Guidelines on Alternative Performance Measures; 
2. encourages issuers to use caution when adjusting APMs and when including new APMs to address the impact of COVID-19; and 
3. recommends issuers provide narrative information regarding the modifications made, the assumptions used and the impact of COVID-19 in APMs used.

 The Q&A document may be accessed here