Optimism among large companies has grown

According to the SEB survey of financial managers, large Estonian companies are more optimistic than before: forty-five per cent of the financial managers that responded believe that the business environment will improve for their company in the next six months. The same was believed in last year’s survey by 36 per cent of respondents.

Eerika Vaikmäe-Koit – Head of Corporate Banking at SEB Eesti: “The slow economic growth in recent quarters and weak demand for exports have not been favourable for companies. At the same time increased wages have made labour significantly more expensive, which exerts pressure on the profit margins and investment capabilities of companies. Hence, I am very happy to see that companies are more optimistic about the near future. Hopefully, this improved outlook for the future will soon be reflected in good economic results.”

Among the Baltic states, financial managers at large Lithuanian companies were the most optimistic, with 53 per cent believing that the conditions for business will improve within the next six months. However, compared to the 2015 survey, the number of optimistic financial managers in Lithuania was slightly lower this year. Among Latvian companies, 43 per cent believe that the business environment will improve – more or less on par with last year’s survey. The number of respondents who believe that the business environment will deteriorate in the next six months was low in all three of the Baltic states: 16 per cent in Estonia and Latvia, and 11 per cent in Lithuania.

The current situation faced by large companies is not bad either. According to the survey, 68 per cent of Estonian financial managers surveyed believe their company’s financial status is strong. Among the financial managers in large Lithuanian and Latvian companies, 74 and 67 per cent, respectively, share the view. Very few of the financial managers surveyed admitted the weak financial position of their company: five per cent in Estonia, 11 per cent in Latvia, and three per cent in Lithuania.

The SEB Group holds an annual survey amongst its clientele, between the financial managers of large Baltic companies. This year, 263 large companies completed the survey.

For more information:

Evelin Allas
Communications Manager
Marketing and Communications Division
SEB

Phone: +372 665 5649
Mobile: +372 511 1718
Address: Tornimäe 2, 15010 Tallinn
E-mail: evelin.allas@seb.ee
www.seb.ee

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