When entering 2009, Nordic IROs had survived the largest credit crunch and financial crisis since the Great Depression hit the market in the 1930’s. Surprisingly, the results from Sculptor IR’s and Regi’s IR Insight survey 2009 show that Nordic IR Professionals are coping quite well with the challenging financial landscape.

Some companies showed of as Best Practice in keeping up a high level of transparency, fulfilling the nervous and emotional markets need for information about covenants, balance sheet, risk management and scenario analysis. Unsurprisingly, there were several cases of Worst Practice as well with firms actually closing the doors, leaving room for investors and medias worst-case speculations.

When asked about the financial turmoil in May 2009 (the IR Insight Survey), four out of ten Nordic IROs believed in an upturn in the Global Economy during the first quarter of 2010.

And it looks like their prophecy might come true. The development at the Nasdaq OMX Nordic and Oslo Børs has been overly optimistic during the last sixth months of 2009. Only a non-existing IPO activity in the Nordic Market reminds us about a recession.

But even if a collapsed Lehman Brothers continues to pay out bonuses, as the credit crunch never happened, there are several pitfalls left before we can se an upsize in the global economy and a stable market.

The biggest question of them all is when and how the world’s central banks will exercise their exit strategies. Is the global market economy ready to survive on its own, with out financial support from central banks?

Even if there is a cautions optimism about the market development in 2010, Nordic IROs are facing new challenges, when companies are cutting costs and at the same time have to increase the number of investor activities and strengthen their dialogue with their analysts and investors.