About the study
Central Europe CFO Survey 2018
Balancing optimism with risk aversion
This annual questionnaire tracks the latest thinking and actions of CFOs representing the largest and most influential companies in the Central European region. It explores top-tier CFO issues across four areas:
- Business environment
- Company priorities and expectations
- Finance priorities
- Digital transformation of finance function
The group of nearly 600 CFOs that shared their opinions with us is a great audience to discuss interesting topics and to demonstrate our expertise. Our respondents are based in 12 Central European countries: Bulgaria, Croatia, the Czech Republic, Hungary, Latvia, Lithuania, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine. The survey was conducted between September and November 2017.
Message from the CFO Program Leader:
What I think the survey shows is a population of CFOs looking to 2018 and beyond with optimism – but an optimism that is touched with the caution that comes from their awareness of possible obstacles, particularly relating to recruitment and cost increases. As a result, they will restrict the levels of risk that they are willing to take. The findings in this report are pretty positive overall, painting a region-wide picture of confident GDP expectations and the anticipation of company growth. However, these views are not translating into an increase in the region’s enterprising spirit. Firstly, respondents continue to see the level of uncertainty as ‘normal’ – what would it take for them to see it as ‘low’? Secondly there is still a general risk-aversion, which has now dominated the CFO survey results ever since the global financial crisis that is now close to a decade ago. Without some preparedness to take greater risk, companies are not going to achieve their full growth potential. If you cannot take risk in a time of anticipated economic growth, when can you?
Gavin Flook, CE CFO Program Leader, Deloitte Central Europe