ESMA · ESMA_QA_1879 Answer Published

Scope of the APM Guidelines; Paragraphs 17 to 19 of the APM Guidelines.

Regulation
Transparency Directive (TD) Directive 2004/109/EC
Topic
Alternative Performance Measures (APM)
Submitted
2017-10-30
Answered
2017-10-30
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Question

Does a segment measure of profitability – which is determined on different accounting basis than the basis defined or specified in the applicable reporting framework – fall within the definition of an APM in the APM Guidelines?

Answer

[ESMA32-51-370 APM Q13] Yes. Measures disclosed in accordance with the applicable reporting framework (e.g. most of measures disclosed under IFRS 8 Operating Segments ) but calculated on a different basis than the one defined or specified in the applicable financial reporting framework also fall within the definition of an APM in accordance with the APM Guidelines. The application of the APM Guidelines depends on where these measures are presented (e.g. inside or outside financial statements; regulated information documents or voluntary information). Please refer to questions ESMA_QA_1868 and ESMA_QA_1869 (historical reference ESMA32-51-370 APM Q2 and Q3 ) if such APMs are presented inside and outside financial statements.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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