The document summarizes key findings from the Summer 2016 Deloitte CFO Survey Switzerland. It discusses the survey results on Swiss economic outlook, CFO concerns about Brexit, external risks facing companies, and expectations around negative interest rates. The survey polled 115 CFOs between May and June 2016 and found that the economic outlook was more positive, Brexit posed risks, external factors like regulations and exchange rates posed substantial risks to companies, and CFOs expected negative interest rates to continue.

1. The Deloitte
CFO Survey
Switzerland
External environment dominates CFOs’ concerns
Report summary
Summer 2016

2. 2
Four key points from the Summer 2016 Survey
© 2016. For information, contact Deloitte AG.
1 – Swiss economic outlook 2 – Brexit anxiety
3 – External company risks 4 – Negative interest rates

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1 - Swiss economic outlook more positive
Net balance of CFOs rating Switzerland’s economic prospects over the next 12
months as positive/negative
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4. 4
2 - Brexit anxiety in Switzerland …
Results from the Deloitte CFO Survey Switzerland, conducted
before the referendum
What impact would a decision by the United Kingdom to leave the EU (Brexit)
have on your company?
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5. 5
… and in the UK
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Results from the Deloitte CFO Survey UK, share of CFOs
who expect spending in the following areas to decrease over
the next three years as a consequence of Brexit
Results from the Deloitte CFO Survey UK, conducted after the
referendum

6. 6
3 – External company risks
Which of the following factors are likely to pose a substantial risk to
your company over the next 12 months? (Multiple answers possible)
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7. 7
4 – Negative interest rates
What change do you expect in the Swiss National Bank’s negative
interest rates in 12 months’ time?
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Contacts
Jamie Schmidt
Partner Audit and Advisory
+41 58 279 7612
jamschmidt@deloitte.ch
Markus Koch
Partner Consulting
+41 58 279 6133
markkoch@deloitte.ch
Reinhard Langenhövel
Partner Audit and Advisory
+ 41 58 279 7240
rlangenhoevel@deloitte.ch
Rolf Schönauer
Partner Audit and Advisory
+41 58 279 6318
rschoenauer@deloitte.ch
Jan-Dominik Remmen
Partner Financial Advisory
+41 58 279 6432
jaremmen@deloitte.ch
Contacts and authors
Authors
Dr. Michael Grampp
Chief Economist and Head of Research
+41 58 279 6817
mgrampp@deloitte.ch
Follow me on Twitter
@michaelgrampp
Dennis Brandes
Senior Economic Analyst
+41 58 279 65 37
dbrandes@deloitte.ch
Acknowledgement
We would like to thank all participating CFOs for their
support in completing the Survey.
The Deloitte CFO Survey is supported by the CFO Forum
Schweiz, the independent association of Chief Financial
Officers in Switzerland.
Participating in our Survey
If you would like to take part in our Survey or would like
to receive copies of this report, please contact
us. cfosurvey@deloitte.ch
© 2016. For information, contact Deloitte AG.

9. 9
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© 2016 Deloitte AG. All rights reserved.
About the Deloitte CFO Survey
The Deloitte CFO Survey is a quarterly survey of Chief Financial Officers and Group Finance
Directors that was launched in September 2009.
The Summer 2016 Survey was conducted between 30 May and 23 June 2016. A total
of 115 CFOs participated, representing listed and private companies and all major sectors of
the Swiss economy.
Some of the charts in the survey show the results in the form of a net balance. This is the
percentage of respondents reporting, for instance, that bank credit is attractive, minus the
percentage saying that bank credit is unattractive. This is a standard method of presenting
survey data. Due to rounding percentages may not add up to 100.
To access the full report please visit
www.deloitte.com/ch/cfosurvey