Gathering for finance professionals from various Latvian companies
Followed by the release of Central European CFO Survey, Deloitte Latvia gathered around 50 Chief Financial Officers in a cozy Pullman hotel atmosphere – an event hosted by Deloitte Latvia partners, Robert Stuģis, Kristīne Jarve and Jānis Čupāns.
“CFO matinee” included key report statistics presentation, case – study presentations by our clients’ CFOs – Armands Sviķis (A.C.B) and Edgars Godmanis (Skonto būve), as well as discussion on the potential of CFO club in Latvia. As well, as, of course, a lot of networking, exchange of information and good time spent together.
The full report on Central European CFO Survey is available here, but we are happy to share key finding regards the Latvian situation:
1) CFOs feel rather stable about the future and generally are optimistic about the future of their companies – more than 70% of respondents feel that the level of uncertainty their business is facing is normal or low.
2) Considering the much anticipated and discussed change in Latvian Tax legislation that came into force this January, although CFOs see some operational changes that need to be done, 71% of respondents are to continue with their businesses as planned
3) 74% of Latvian CFOs expect revenues to increase in the following 12 years, whereas only 29% of the expect the rise of the operating margins
4) The greatest identifed risk for future business development of the company in Latvia, as well in Central Europe, is the lack of the skilled sales force, followed by an increase in costs of running the business.
If you have any questions regarding the CFO survey, or would like to join the CFO club, please contact us!