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ESMA publishes new Q&A on alternative performance measures guidelines


The new questions provide information on:


(a) the definition of APMs in the context of interim financial statements;


(b) the prominence of APMs, i.e. the way they are presented compared to IFRS figures outside financial statements; and


(c) the use of the “compliance by reference” principle as set out in the Guidelines.


An alternative performance measure is a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework. The Guidelines apply to APMs disclosed by issuers or persons responsible for drawing up a prospectus.


The purpose of this Q&A is to promote common supervisory approaches and practices in the implementation of these guidelines.


The Q&A may be accessed at here