Deloitte CFO Survey - Signs of recovery?
Q3 2015 Results
In September 2009 Deloitte successfully launched a quarterly survey of Chief Financial Officers and Group Finance Directors of major companies based in Switzerland. The Survey gauges their attitudes towards the outlook for business, financing, risks and strategies and is designed to identify trends and key themes in the Swiss corporate sector. The CFO Survey is the only survey of its kind in Switzerland.
Economic and business prospects stabilise
CFOs’ confidence seems to have stabilised after the sharp decline that followed the removal of the exchange rate floor: At -2 percentage points, the Deloitte CFO Confidence Index is only just in negative territory and is 6 percentage points up on Q2.
- This quarter a higher proportion of CFOs rate the prospects for the Swiss economy over the next 12 months as negative
- 37% take a pessimistic view
- 26% are optimistic
Perceived economic and financial uncertainty in Switzerland remains high:
- 75% of CFOs rate the current level of uncertainty as high
- Only 1% rate the current level of uncertainty as low
Controlling and reducing costs is, therefore, the top priority for many CFOs. However, they are also promoting the launch of new products and services as a key strategy over the next 12 months.
External risks – in particular exchange rate risk – dominate CFOs’ concerns
More than two-thirds of CFOs see the strength of the Swiss Franc as a risk for their company, with increasing business regulation in Switzerland and geopolitical risk also high on the list.
CFOs rate the impact of a EUR/CHF 1.10 exchange rate considerably less negatively than they did a year ago:
- Around one in five CFOs currently sees this rate as a disadvantage for their company
- Around two-thirds see it as neither an advantage nor disadvantage
However, a further rise in the value of the Swiss Franc would be problematic, with a rate of even 1.05, is seen as a clear disadvantage.
About the CFO Survey
The survey comprises 20 questions which recur each quarter and around 10 questions unique to the financial conditions of the previous quarter. This allows us to provide you with both specific feedback on the market conditions relevant to the previous quarter, as well as ongoing trend analysis regarding how financial conditions are evolving and how your peers are reacting to them.
The CFO survey brings the views of CFOs to a wide audience in the media and among policy makers and is a valuable benchmark for CFOs.
Explore the data
Download the PDF to access all the historical data series from the Deloitte CFO Survey since Q3 2009. Please feel free to use any of the data series in your documents or presentations.