Provides highlights of recent CFO survey results from Argentina, Australia, Austria, Belgium, Ireland, Japan, Netherlands, North America, Norway, Spain, Sweden, Switzerland, and the United Kingdom.
Deloitte global report, November 2011 l 33 pages
The CFO Survey Q1 2012
Optimism bounces back
Optimism among Australian CFOs has bounced back, with 38% saying they were more optimistic about their company’s financial prospects than they were three months ago.
The first quarter survey, covering the three months from January to March 2012 (Q1), also showed that the share of CFOs who saw financial and economic uncertainty levels as higher than normal fell to 69% from 79% last quarter.
While CFOs remained concerned about the uncertainty and volatility in international markets; the firming US economy, signs of greater stability in Europe and share market rallies during the survey period seemed to have injected some long-overdue confidence.
Other key findings included:
- Challenges facing CFOs in 2012 include the high Australian dollar, the European economic crisis, funding issues, skills shortages and local political uncertainty
- 40% of CFOs were looking to increase employee numbers and more than half expected to increase their IT spend in the coming year
- 46% of CFOs believed now was a good time to take on risk and 72% expected to see their operating cash flow increase over the coming year
- 71% of CFOs expected to see an increase in M&A, the highest level in the past three quarters
- 69% of CFOs believed the equity of their business was undervalued
- The cost of credit had increased marginally but availability improved. 67% of CFOs said credit was somewhat or very available
- 70% of CFOs indicated productivity was a high priority for their business and 63% said they currently measured productivity and efficiency.
The Deloitte CFO Survey targets the CFOs of major ASX listed companies. It has been conducted on a quarterly basis since the third quarter of 2009. This survey covers the first quarter of 2012 and took place between 15 March 2012 and 30 March 2012. 80 CFOs participated, representing businesses with a combined market value of approximately $346 billion or 26% of the Australian quoted equity market.
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