Capital Market Orientation
The unlisted Bertelsmann SE & Co. KGaA regards itself and conducts itself as a capital market-oriented company. Bertelsmann began making use of the financing opportunities offered by the capital market via bonds and profit participation certificateslong ago, to diversify its financing portfolio and to ensure its long-term financing. The fact that the company sets financial objectives in accordance with international standards, manages the company according to an economic value concept, and prepares accounts in accordance with IFRS shows that Bertelsmann is oriented towards the needs of listed companies and the requirements of the capital market in terms of transparency and disclosure. This also includes pursuing a policy of good Corporate Governance. The capital market orientation of Bertelsmann SE & Co. KGaA is also supported by the fact that it had its credit rating published by Standard & Poor's and Moody's since 2002. Its Investor Relations services are an essential component of the company's capital market orientation.
Bertelsmann attaches a great deal of importance to communication with capital market participants. Its activities in this area observe the principles of effective capital market communication. These include the principles of credibility, target group orientation, transparency and continuity. Bertelsmann's communication with capital markets is long-term in its orientation and is seen as a key element in a group strategy geared towards sustained value enhancement.
a片毛片免费观看!Bertelsmann provides its potential investors with regular and transparent information about the company. In 2001 the company changed the accounting principles for the preparation of its consolidated financial statement from the German Commercial Code HGB accounting system to the International Financial Reporting Standards (IFRS), and converted its fiscal year to match the calendar year. Since 1986, in addition to the annual report, Bertelsmann has also published interim reports at the half-year. In addition, Bertelsmann issues quarterly business reports in the form of press releases about its business performance.