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European business leaders expect revenue hit

European business leaders expect revenue hit

time lapse photography of several burning US dollar banknotes
Across the full dataset, 76% of business leaders said that the Covid-19 crisis is having a negative impact on their company to date, of which 33% forecast a ‘very negative’ impact. 85% expect the impact to be negative over the next 6 months, with 29% preparing for a ‘very negative’ downturn. 
The Covid-19 crisis is bringing about unprecedented disruption to the financial coffers of European businesses, according to a new Eden McCallum survey held among over 300 business leaders based in Europe. 
As part of mitigation and response planning, companies are taking a range of measures to curb costs and maintain operations as well as services to clients. Reducing non-people costs is the top action taken, followed by deferring or reducing capital expenditures, in the most cases related to non-strategic spending. Over half of the respondents have indicated that they are making use of government employment support.
Other measures taken include delaying/renegotiating rent for offices and shops, similar discussions with suppliers of good/services, and applying to the tax authority for deferred tax payments. One fourth of large corporates are reducing or even eliminating dividend payments to shareholders.
Source: 


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