The main findings for Switzerland in brief
- Swiss CFOs are becoming less and less concerned about the impact of COVID-19. In the current wave of the survey, only 47% of respondents expressed great concern, compared with 58% and 75% in the previous two rounds (conducted at two-week intervals).
- Swiss CFOs (along with their counterparts in Germany and Denmark) still seem less concerned about the COVID-19 crisis than their peers in other parts of the world. Only 47% of respondents in Switzerland now believe the outbreak has the potential to significantly impact their business operations, compared with 70% of their counterparts for all surveyed territories.
- There’s a clear correlation between CFOs’ level of concern, the expected impact on their revenues and the type of financial actions they’re considering. The number of CFOs in Switzerland considering any of the specified financial actions as a result of COVID-19 is well below the global average, and 13% even say they’re not considering any action at all.
- In line with their lower levels of overall concern, respondents in Switzerland are more likely than the overall sample to report increasing appetite for M&A activities (17% in Switzerland vs 11% of the global sample). Swiss CFOs also express one of the highest levels of confidence in the long-term stability of their M&A strategy across the sample.
- Compared with the previous two survey waves, the number of CFOs in Switzerland expecting a recovery within three months has declined considerably, from 90% in the first wave and 72% in the second to only 50% in the latest round. Interestingly, CFOs in Germany have more bullish expectations about business ‘bouncing back’, with over 70% of respondents anticipating recovery within three months.
- As companies consider when and how to reopen work sites, 53% plan to reconfigure work sites to promote physical distancing and 47% plan to make remote work a permanent option for roles that allow.
To sum up, Swiss CFOs seem less concerned about the impact of COVID-19 than they were. Interestingly, however, as the first phase of the crisis has passed, Swiss CFOs are now more bearish than in waves 1 and 2 of the survey when it comes to expectations of rapid recovery.