Marco Porro is Head of Investor Relations at Italgas since November 2016, having held the same role in Snam SpA since July 2006. A graduate in Business Economics at the Bocconi University of Milan, he joined Snam as an economist dealing with preparation of the long-term energy demand scenarios. Whilst at Snam, he was assistant to the manager of Strategic Planning, from July 1997 until the end of 2000. At the end of 2000, he took on the role of Project Manager for the transfer of gas transport assets to the NewCo Rete Gas Italia and, subsequently, for its listing on the Stock Exchange as Snam Rete Gas in December 2001. From then up until May 2002 he took on the duties of assistant to the Investor Relations manager of Snam Rete Gas. He was then appointed as Financial Analyst Relations Manager in the Investor Relations Department of the Parent company Eni.
What are your top priorities and biggest challenges?
My priorities are: to be consistent in maintaining the credibility of the company and being able to translate information into a clear, unbiased message; to be proactive and always well prepared; and to maintain good relations for all relevant areas of the company organization.
The challenges I face in my role include:
- Targeting new investors and further diversify shareholder base
- Expanding or enhancing engagement with existing shareholders
- Increasing liquidity
- Increasing my management team’s visibility /accessibility and the successful integration of reporting regimes (financial, non-financial, etc) and improvement in its communication
How long have you been in your role and how have you seen the role evolve in the past couple of years?
I have been in the role for 12 years. Over this period of time I experienced changes in: our corporate structure (passive vs active investors); the function of the sell side (research, corporate access, etc); the inclusion of non-financial factors in investors’ decision making; increased market transparency; and new regulation requirements
How can the IRO best engage the investment community?
The areas that I recommend are via corporate presentations (earnings and CMD), conference/video calls, 1-to-1 meetings, investor site visits, and attending sector conferences.
What is one important initiative that you’ve championed or experience that you’ve had as an IRO?
I can remember two main experiences. The first one was the IPO of Snam and the second is the spin-off of Italgas and its listing on the Milan Stock Exchange.
What advice do you have for the next generation of IRO?
To be always keen to be update on new trends, to be curious and always open to discuss with investors. This is not enough; you must always be consistent with what you present and comment to the market. It’s a matter of trust and credibility that you have to build every day with investors.
What matters most to you when identifying the institutional shareholders in your company and peers?
Investment style, peers ownership, sector focus, equity assets under management, average holding period.
What are some challenges you face when liaising with other areas of your organization around proxy and earnings seasons?
I am pretty lucky. The company culture is well aware of the requirements of the financial community. Therefore, I can quite easily obtain support both in proxy and earning seasons.
What are the benefits you have seen from being a Nasdaq IR Insight and Advisory client?
A detailed and consistent shareholder analysis which supports updates in investor targeting. A friendly use of Nasdaq IR Insight with outstanding reporting tools. Continuous updates of the platform with additional tools. Sometimes it’s even difficult to be up-to-speed with the new updates due to lack of time during everyday job time.
- Company website: https://www.italgas.it/it/
- LinkedIn: https://www.linkedin.com/company/italgas/
- Twitter: https://twitter.com/italgas
© Copyright 2019 Nasdaq, Inc. The Nasdaq logo and the Nasdaq ‘ribbon’ logo are the registered and unregistered trademarks, or service marks, of Nasdaq, Inc. in the U.S. and other countries. This communication being is provided to you by Corporate Solutions, a business of Nasdaq, Inc. and certain of its subsidiaries (collectively, “Nasdaq”), for informational purposes only and is of general character only. None of the information herein constitutes advice, a recommendation, solicitation, invitation or inducement to buy or sell securities of any kind, or as commentary on the value of any security. Before making any investment decision, you should seek independent legal, taxation or financial advice. Nasdaq makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. At the time of publication, the information herein was believed to be accurate, however, such information is subject to change without notice and Nasdaq makes no representation or warranty as to the correctness or completeness of the information. The information provided in this report remains, unless otherwise stated, the copyright of Nasdaq and may not be used, reproduced, published or copied, in whole or in part, in any form or for any purpose whatsoever without the express written permission of Nasdaq. This information is not directed or intended for distribution to, or use by, any citizen or resident of, or otherwise located in, any jurisdiction where such distribution or use would be contrary to any law or regulation or which would subject Nasdaq to any registration or licensing requirements or any other liability within such jurisdiction. By reviewing this document, you acknowledge that neither Nasdaq nor any of its third-party providers shall under any circumstance be liable for any lost profits or lost opportunity, indirect, special, consequential, incidental, or punitive damages whatsoever, even if Nasdaq or its third-party providers have been advised of the possibility of such damages. Additionally, unless due to willful tortious misconduct or gross negligence, neither Nasdaq nor any of its third-party providers shall have any liability in tort, contract, or otherwise (and as permitted by law, product liability), to you or any third party. This disclaimer is governed by the laws of the State of New York.