PwC’s COVID-19 CFO Pulse Survey

PwC Cyprus Findings - 28 April 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 with 45 CFOs who were surveyed for the round taking place from 20 to 22 of April.

In the graphs you can see the percentages out of the total number of 45 CFO responses.

871 CFOs across 24 territories: Armenia, Azerbaijan, Brazil, Cyprus, Denmark, France, Germany, Ireland, Japan, Kazakhstan, Malta, Mexico, Middle East1), Netherlands, Philippines, Portugal, Singapore, Slovakia, Sweden, Switzerland, Thailand, Turkey, US, Vietnam participated in this round of the survey.

View additional survey results:

Global COVID-19 CFO Pulse reports:

   27 April 2020
   13 April 2020
   30 March 2020

Key Findings

78%

Nearly three-quarters (78%) of respondents are greatly concerned about the effects of COVID-19 on their operations; only 9% view it as an isolated challenge not currently having a major impact on their business.

69%

69% of CFOs in Cyprus expect a decrease in their company revenues and/or profits as a result of COVID-19. Only 4% of CFOs expect an increase in revenue as a result of COVID-19

73%

Cyprus CFOs are mainly concerned about potential recession (73%) followed by financial impact (58%) and decrease in consumer confidence (58%).

62%

62% of respondents believe their company could return to ‘business as usual’ within three months if the crisis were to end today.

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

Total CY respondents
%
%
%
%
Decrease revenue and/or profits
We do not expect any impact to revenue and/or profits
It is difficult to assess at this point
Increase revenue and/or profits

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?

%
%
%
%
%
Less than a month
1 to 3 months
3 to 6 months
6 to 12 months
More than 12 months
62% within 3 months
 

What are your top 3 concerns with respect to COVID-19?

Not having enough information to make good decisions
%
Decrease in consumer confidence reducing consumption
%
The effects on our workforce/reduction in productivity
%
Supply chain disruptions
%
Impacts on tax, trade, or immigration
%
Potential global recession
%

Difficulties with funding
%
Financial impact including effects on results of operations, future periods, and liquidity and capital resources
%
Cybersecurity risks
%
Privacy risks
%
Fraud risks
%

Contact us

Constantinos Constantinou

Partner - Head of Advisory, PwC Cyprus

Tel: +357-22555245

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