28 February 2022

Same-Day Reporting in 2021

ROWAN CLARKE, Investor Relations

For a number of years, FIRST Advisers has been monitoring same day reporting in Australia. We define same day reporting to be when a company releases their Annual Report on the same day that they release their Full Year Financial Results.

The practice of providing the Annual Report on the same day is now considered best practice for investor relations, as it provides shareholders with a complete suite of relevant information on the previous financial year to support management’s commentary during the results reporting period. There are benefits for management that include freeing up time to focus on post-results roadshows, AGM preparation, business operations and planning for the year ahead, without the distraction of having to finalise an Annual Report.

In this blog, we report on same day reporting in 2021. Our review is focused on companies in the S&P/ASX300, segmented by market cap into Large-Cap (ASX100), Mid-Cap (ASX100-200), and Small-Cap companies (ASX200-300).

Same-Day Reporters Recovering from COVID constraints

In 2021, 51% of ASX300 companies provided an Annual Report on the same day that they released their Full Year Results. This was 5% above our 2020 finding of 46%, but below 2018 (58%).

COVID-19 impacted many companies in 2020 when they reported their financial results. Remote work arrangements, travel restrictions and other impacts of the pandemic, made it difficult for many companies to align the release of results with the publication of their annual report. These problems have started to ease in 2021.


In 2021, same day reporting improved in the large-cap and mid-cap cohort. For small-cap companies, the logistics involved in same day reporting appear to remain an issue as numbers fell slightly from 47% in 2020, to 45% in 2021. Prior to the COVID-19 pandemic, 57% of small-cap companies were same day reporters.

57% of ASX100 companies were same day reporters, which is an improvement from the previous year (49%) but is also ahead of 2018 (56%). Mid-cap companies had the greatest decline in same day reporting during 2020 but have also picked up the most, improving 9 percentage points in 2021 to 52%, but still below the benchmark level that was set pre-COVID-19 of 63%.


More companies are publishing their Annual Report within one week of their results, in 2021

In 2021, as many companies are publishing their Annual Report within one month of their results, as they did in 2020. The largest improvement is seen in the number of companies publishing an annual report within one week, up from 46% in 2020 to 52% in 2021. Despite the improvement, it is still lower than pre-COVID-19 levels when 60% was reported in 2018. A trend that is becoming more pronounced, however, is for companies to either report within the first week of reporting their full year financial results (52%) or to delay it until closer to the statutory maximum period of 5 to 8 weeks (37%).


Differences still exist between industry sectors

In 2021, our study shows that Utilities (75%), Financials (69%), Industrials (68.7%) and Information Technology (61%) are all strong adopters (60%+) of same day reporting. In 2020, e Utilities (100%), Financials (63%) and Consumer Staples (60%) led the adoption of same day reporting so the notable improvers in 2021 were the Industrials and Information Technology companies.

The remaining sectors had 35% to 47% of their constituents provide an Annual Report on the same day as their Full Year Results in 2021.


Two sectors reported an improvement in same day reporting, above both 2018 and 2020 levels. As previously mentioned, 61% of the Information Technology sector adopted this practice in 2021, above both 2018 (38%) and 2020 (44%) levels. A similar trend is seen in the Financial sector, which increased from 52% in 2018 to 63% in 2020 to 69% in 2021.


Despite same day reporting being widely accepted as the best standard in financial reporting, the logistical challenges created by COVID-19 have not eased enough in 2021, to see an improvement in the adoption of same day reporting compared to 2018 levels. We expect that as COVID-19 induced restrictions are removed, and with further improvements in publishing and content creation technologies, the number of companies embracing same day reporting will return to pre-pandemic levels.

30 September 2020


Between 2016 and 2018, FIRST Advisers monitored how long companies took to release their Annual Report following the release of their Financial Results. The implementation of Same-Day Reporting has become an industry standard in terms of best practice investor relations because it reflects a commitment to release this document at a time when it has […]

Read More
28 May 2020

Designs on Annual Reporting

GILES RAFFERTY, Corporate Communications. It is time to think about Annual Reports and then to think again. While an Annual Report must include content required by the Corporations Act and the ASX listing rules,that doesn’t mean we should limit our thinking to just meeting that objective. It is right and proper for the compulsory materials, […]

Read More
1 May 2019

The importance of good design

GOOD DESIGN is the difference between telling someone and showing them. It can be the difference between informing your audience or convincing them. A carefully composed image, an effectively executed graphic concept or a thoughtfully constructed layout can convert worthy content into memorable messages. We sat down with Campbell van Venrooy, a graphic designer with […]

Read More
29 November 2018

Interesting times: 2018 in review

Giles Rafferty, Media and Corporate Communications “May you live in interesting times”, is often presented as a Chinese curse and, as we enter the final month of 2018, it has certainly been an interesting year thus far. In Australia, the Banking Royal Commission has been the dominant story in the financial media during the latter […]

Read More
1 November 2018

Annual Report – Same-Day Reporting

In July 2018, FIRST Advisers’ analysis of financial results reporting noted the continued trend by ASX 300 companies to publish their Annual Reports on the same day as their Financial Results. Termed ‘Same-Day’ or ‘Simultaneous’ reporting, we have updated our findings to see how ASX 300 companies with a June 30 balance date faired in […]

Read More
29 June 2018

Setting the standard – ‘Same-day reporting’ of the annual report at Full Year Results

Daniel Jones, Shareholder Analytics and IR FIRST Advisers highlighted a trend amongst ASX 300 companies towards publishing annual reports on the day they announce full year results, ‘Same-Day Reporting’, in early 2017.  We have updated this analysis in order to confirm if a new standard is emerging around best practice for publishing annual reports. For […]

Read More
30 April 2018

Annual reports – bring it all together

Giles Rafferty, Corporate Communications and Media Adviser The world of investor relations is getting faster, busier and noisier. As soon as news hits the ASX announcements platform it is time to update the company website; amplify the news with tweets and social posts; push out the media release; set up interviews; live stream webcasts; monitor […]

Read More
1 August 2017

The Annual Report and the importance of storytelling

Philippa Ellis, Governance & Investor Relations “Stories are the most powerful communication tool we have bar none” according to Andy Goodman of The Goodman Centre. We all carry stories in our heads (pre-conceptions) that strongly influence the way we view the world. These stories cause our mind to be closed to alternative viewpoints even when […]

Read More
3 July 2017

How to Engage with Passive Investors this Reporting Season

David Whittaker, Senior Investor Relations Adviser The growth in passive investing is one of the biggest shifts occurring in global capital markets. Passive funds now hold as much as 40% of total US equity market assets, up from around 20% a decade ago*. However, very few companies are adjusting their IR strategy to take account […]

Read More
9 May 2017

When to Publish the Annual Report – A New Benchmark is Emerging

VICTORIA GEDDES, EXECUTIVE DIRECTOR Ten years ago I can remember marvelling at those companies that managed to get it together and release their full, glossy annual report on the same day as reporting their full year results. You could count them on the fingers of one hand. More commonly, three to four months after the […]

Read More