Survey: Less than one-third of CFOs optimistic about their companyʼs financial future

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Among Hungarian CFOs surveyed, only 31% say the financial future of their company improved over the last six months, while 56% said their prospects were broadly unchanged and 13% said the situation had worsened, consultancy Deloitte said in its Central Europe CFO Survey for 2016, Hungarian news agency MTI reported today.

A year ago, 30% of CFOs reported positive changes, 50% no major changes and 20% believed conditions were getting worse. With this, the business outlook of CFOs somewhat improved compared to the 2015 survey, but Deloitte noted that the 31% rate of optimistic answers was low compared to the regional average of 51% in 2016. 

The survey found that Hungarian CFOs are expecting slower GDP-growth compared to previous years and investments could be lower than in other countries in the region. Deloitte partner Ákos Demeter said outside risks such as market price pressure, stricter financial regulation and quick changes in the regulatory environment still present vulnerabilities.

Only 23% of respondents said it was a good time to be taking greater risks on their companyʼs balance sheet, while 77% said it was a bad idea.

A majority of CFOs, 88% are planning to restructure their company or introduce a new business model to boost revenue. Tied to this, 65% are expecting their company to increase their revenue in 2016, but only 19% expect to increase employee numbers in the next 12 months.

Mergers and acquisitions could pick up as 48% expect their number will grow, 48% say their number could remain unchanged and only 4% expect their number to decrease.

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