PwC’s COVID-19 CFO Pulse Survey

PwC Cyprus Findings - 16 June 2020

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PwC is tracking sentiment and priorities about the COVID-19 outbreak among CFOs. During this bi-weekly survey, Cyprus participated in it’s third and final round  with 37 CFOs who were surveyed for the round taking place between 1-11 of June.

989 CFOs participated in the last CFO Pulse survey round, across 23 territories: Central and Southern Africa, Brazil, Caribbean, China/HK, Cyprus, Denmark, France, Germany, Greece, Ireland, Japan, Lithuania, Malaysia, Mexico, Middle East, Netherlands, Portugal, Singapore, Sweden, Thailand, Turkey, US and Vietnam.

Download the report

View all survey results:

Cyprus COVID-19 CFO Pulse reports:
  16 June 2020  
  12 May 2020  
  28 April 2020

PwC Cyprus – Comparison of rounds 1 & 2 & 3

Global COVID-19 CFO Pulse reports:

   15 June 2020
   11 May 2020
   28 April 2020
   13 April 2020
   30 March 2020

Key Findings

46%

46% of CFOs in Cyprus expect a decrease in revenue of up to 25% as a result of COVID-19, while only 3% of them expect an increase in their revenues

97%

97% of CFOs in Cyprus are mostly confident in tactical measures to ensure safety of customers and 100% confident to provide a safe working environment for employees.

46%

46% of the respondents believe that their company could return to ‘business as usual’ within three months if the crisis were to end today whereas 16% believe that it will take more than a year.

73%

73% of CFOs in Cyprus think technology investments will make their company better in the long run followed by work flexibility (57%).

12 May 2020 / 16 June 2020

May 12, 2020
June 16, 2020

What impact do you expect on your company’s revenue and/or profits this year as a result of COVID-19?

May 12, 2020
June 16, 2020
Increase revenue and/or profits
%
%
Decrease revenue and/or profits
%
%
We do not expect any impact to revenue and/or profits
%
%
It is difficult to assess at this point
%
%

If COVID-19 were to end today, how long would you estimate it would take for your company to get back to “business as usual”?

May 12, 2020
June 16, 2020
Less than a month
%
%
1 to 3 months
%
%
3 to 6 months
%
%
6 to 12 months
%
%
More than 12 months
%
%

As a result of COVID-19, which of the following does your company expect to occur in the next month?

May 12, 2020
June 16, 2020
Higher demand for employee protections (e.g., including sick leave policies, increase demand for benefits, discrimination)
%
%
Productivity loss due to lack of remote work capabilities
%
%
Insufficient staffing to accomplish critical work (workforce capacity)
%
%
A change in staffing due to low/slow demand (temporary furloughs)
%
%
Separation of staff (layoffs)
%
%
Other
%
%

Contact us

Constantinos Constantinou

Partner - Head of Advisory, PwC Cyprus

Tel: +357-22555245

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