SEB: Stable optimism for Swedish CFOs - Deloitte/SEB CFO Survey
(Thomson Reuters ONE) -
The Deloitte/SEB CFO index for October edges up to 55.9 from 55.6 in March and
54.2 in our survey one year ago. Financial chiefs say they intend to increase
strategy focus on the Nordic region, likely due to its brighter growth prospects
relative to other markets such as China. Survey results also showed greater
willingness to invest in Sweden.
The index aims to reflect changes in sentiment among Sweden-based CFOs and is
based on four components: business climate, financial strength, banks'
willingness to lend, and counterparty risk. Other key findings from the report
include:
Encouraging lending and M&A environment. CFOs say banks and other financial
partners continue to show a willingness to lend to their companies. They also
said that despite the recent flurry of activity, they remain relatively positive
about the deal-making climate in Sweden.
The global turbulence on financial markets has so far not had a negative impact
on cash flow. However, many CFOs say that the challenges will likely increase
going forward. Many CFOs say that they remain focused on cost-cutting despite
strong efforts in this area in recent years. More CFOs say that future order
intake is an uncertainty, that they believe it will be more difficult to
increase prices, and that they are concerned about the uncertain macroeconomic
environment. Taken together, these responses suggest that inflation will neither
receive support from higher prices nor from salary increases.
Unbothered by negative interest rates. Survey answers show that CFOs remain
confident in their financial positions, with ample financial reserves and sound
cash flow. They were also largely un-impacted by the current negative interest
rate environment in Sweden, even though a greater interest in hedging emerges
from answers to various questions in the survey.
"Increasing CFO confidence in Sweden bodes well for near-term business
conditions. Financial chiefs at Sweden's largest companies say they are sitting
on sound financial footing. They show renewed optimism about the Nordic region.
And they are surprisingly uninfluenced by negative interest rates. However, they
show more concern about the potential to increase order intake and for stiffer
competition, which leads to continued cost-cutting focus and a reluctance to
make new hires," says Karl Steiner, Senior Strategist at SEB.
"The survey highlights a good business climate in Sweden, and M&A activity
should remain lively. While there is less interest in expanding into Asia, there
is a greater preference for investing in Sweden, and even the US. Still, due to
uncertainty in the global economy, the survey suggests companies remain
reluctant to make significant investments in new capacity and new geographic
markets despite sound cash flows and banks' willingness to lend," says Henrik
Nilsson, Partner at Deloitte.
Method: The survey was conducted in September and consisted of a total of 15
questions in such areas as business climate, strategic priorities, employees,
financial strength and the lending attitudes of banks and other financial
institutions. The Deloitte/SEB CFO Survey aims to reflect changes in sentiment
among Swedish-based CFOs and thereby create an understanding of economic and
financial trends. It is published two times a year. The full report is available
at www.sebgroup.compress and www.deloitte.se.
+-----------------------------------+------------------------------------------+
|For more information contact |Press contact |
|Karl Steiner, senior ekonom, SEB |Anna Helsén, Press chef SEB |
|+46 70-332 31 04 |+46 70 698 48 58, anna.helsen(at)seb.se |
|karl.steiner(at)seb.se |Christer Ahlgren, counselor, Clients & |
|Henrik Nilsson Partner, Deloitte |Markets, Deloitte |
|+46-73-379 11 02, |+46 708 14 23 20, |
|henilsson(at)deloitte.se |christer.ahlgren(at)deloitte.se |
+-----------------------------------+------------------------------------------+
SEB is a leading Nordic financial services group. As a relationship bank, SEB
in Sweden and the Baltic countries offers financial advice and a wide range of
financial services. In Denmark, Finland, Norway and Germany the bank's
operations have a strong focus on corporate and investment banking based on a
full-service offering to corporate and institutional clients. The
international nature of SEB's business is reflected in its presence in some
20 countries worldwide. On June 30, 2015, the Group's total assets amounted to
SEK 2,760billion while its assets under management totalled SEK 1,780 billion.
The Group has about 16,000 employees. Read more about SEB at www.sebgroup.com
Press release (PDF):
http://hugin.info/1208/R/1958497/713710.pdf
CFO Survey Fall 2015 Final:
http://hugin.info/1208/R/1958497/713711.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SEB via GlobeNewswire
[HUG#1958497]
Unternehmensinformation / Kurzprofil:
Datum: 14.10.2015 - 10:00 Uhr
Sprache: Deutsch
News-ID 426732
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