Cyber is in the report, not the letter
Of the ASX 200 annual reports we read for FY2025, 88% mention cyber somewhere. Only 12% of the leader letters do. No other theme we count has a gap that wide. Climate is in 92% of reports and 55% of letters. Strategy is in 86% and 65%.
We are not sure why. One guess: cyber lives in the risk pages, and the people who sign the letter leave it there. That is a guess, and we have not tested it.
| Annual reports | 88% |
|---|---|
| Leader letters | 12% |
ASX 200 annual reports we read for FY2025.
Source: the companies' own annual reports, FY2025. Counts by onestepright.
See the figures behind it: What ASX 200 companies write about in their annual reports
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