European CFO Survey Spring 2018
Undeterred by uncertainty
2017 was an extraordinary year for the European economy. The strength in Europe was driven by the euro area, which grew at its fastest pace in a decade. Will this steady upswing continue into 2018?
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- About the European CFO Survey
- Infographic: European CFO Suvey: Undeterred by uncertainty
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What did Europe’s CFO community make of this?
Chief Financial Officers across Europe remain focused on their company’s growth, despite levels of optimism and revenue expectations softening. CFO confidence, while slightly more subdued compared to autumn 2017 - remains positive and brighter than last spring. In fact, positivity is noticeable as CFOs report an expected increase in both capital expenditure and human capital over the next 12 months.
So, what are the overall views of Europe’s leading CFOs?
- A net 26% are more optimistic than they were when last surveyed
- 51% of European CFOs say there is a high level of financial and economic uncertainty
- 46% of CFOs expect their capital expenditure to increase in the next 12 months
- A net 25% expect to add their workforce in the next year
- 73% of CFOs say that a rise in protectionism is likely, and 50% say a major cyber-attack is likely, though both are rated relatively low on their impact on company financial prospects.
The time for digital is now
In a special edition chapter—The digital frontline—CFOs share their perspectives on digital disruption and some food for thought on the implications for business.
So, are European CFOs prepared for what’s on the digital horizon?
- 30% of CFOs are playing the strategic lead role when it comes to digital initiatives currently
- Almost 50% of Europe’s CFOs report that their company uses digital capabilities to improve processes extensively
- A net 15% plan to invest more in disruptive technologies (blockchain, cognitive analytics) over the next 12 months
- A net 55% of CFOs plan to increase investments in training employees on digital initiatives over the next 12 months.
Review the findings
Hear what our Chief Economists have to say
About the European CFO Survey
The European CFO Survey is part of a global cohort of surveys benchmarking the current and future intentions and opinions of European Chief Financial Officers. The findings discussed in this report are representative of the opinons of almost 1,652 CFOs based in 20 European countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, the Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey and the United Kingdom. CFOs were all contacted between February and April 2018.
The special edition chapter–The digital frontline–represents the consolidated views of up to 1,162 CFOs based in up to 15 European countries: Austria, Belgium, Denmark, Finland, France, Greece, Iceland, Ireland, Italy, Poland, Portugal, Spain, Sweden, Switzerland and Turkey.
European CFO Survey - Autumn 2017
CFOs switch focus to the longer term
European CFO Survey - Spring 2017
European CFO Survey- Autumn 2016
Growth prospects in an uncertain world
European CFO Survey - Spring 2016
Politics takes centre stage
European CFO Survey - Autumn 2015
Confidence heads South