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Deloitte Business Sentiment Index - Energy Perspective - April 2010

Deloitte Business Sentiment Index - Energy Perspective - April 2010

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The energy industry is usually considered to be more stable than others, because homes and businesses have no choice but to consume energy. However, economic drivers that impact commodity prices are created in other industry sectors, leaving energy to follow the developments of other are...
The energy industry is usually considered to be more stable than others, because homes and businesses have no choice but to consume energy. However, economic drivers that impact commodity prices are created in other industry sectors, leaving energy to follow the developments of other are...

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Published by: Deloitte Central Europe on Apr 26, 2010
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BusinessSentimentIndex
Energy Perspective
Central Europe / 3
rd
edition / April 2010
A steady riseViews rom senior executivesin Central Europe
 
2Deloitte Business Sentiment Index
Energy Perspectives
“The energy industry is usually considered to be more stable than others, because homes and businesses haveno choice but to consume energy. However, economicdrivers that impact commodity prices are createdin other industry sectors, leaving energy to ollow the developments o other areas o the economy.These actors were responsible or a dramatic decreasein the price o energy rom the summer o 2008 to early  2009 when, or example, the price o annual baseloadelectricity on the European Energy Exchange (EEX)dropped rom over 80 EUR per MWh to around 40 EUR per MWh. Prices o oil and gas suered similarly  sharp declines.The energy sector has had to cope with a decrease o roughly 10-15% in the consumption o energy (a declinecomparable to that suered by other industries)coupled with an over 50% drop in the commodity  prices o energy, creating a unique set o challenges or energy companies. These have required companies inCentral Europe to change their behaviour, orcing themto immediately reconsider their investments, initiate signicant cost-cutting o operational expenditures, andchange their business strategies.” 
This quarter, we have introduced a new section tothe Business Sentiment Index report in which we lookat the sentiments o the leaders o dierent industriesand in this edition we ocus on the energy sector.
 A mixed outlook on general economic andcompany prospects
The outlook o proessionals in the energy sector ismixed. For example, compared with the results romthe previous survey conducted in December 2009, thereis a all in positive sentiment about the general outlookor the economy. However, there is a slight improvementin sentiment about the fnancial prospects or companiesin the energy sector. Just under hal (45.5%) believethe next six months bode well or their enterprises –a rise o a ew percent rom 41.2% in the last survey.
%10%20%30%40%50%60%70%80%90%100%
3Q 2009 4Q 2009 1Q 2010
6,5%8,8%3.2%50,0%51,5%29,0%26,5%27,3%48,4%12,9%14,7%18,2%3,0%
Generally speaking, how do you eel about the fnancialprospects or your company now? Are they…
Defnitely positiveFairly positiveBalanced, mixedFairly negativeDefnitely negativeDon’t know
 Vladimír Vaněk
PartnerDeloitte Central Europe
Key fndings
 
3Deloitte Business Sentiment Index
Energy Perspectives
Big boost in confdence about the availabilityo credit
Despite these mixed views, the energy & resourcessector did note the greatest jump in positivesentiment about the perceived availability o creditor its companies, compared to the other industriessurveyed. Just under nine tenths (89.7%) believe creditis available, a signifcant increase rom the 58.1% whoheld this opinion in 3Q 09. There is also a much smallerpercentage who now believe credit is difcult to obtaincompared to 3Q 09: 9.1% hold the view that credit ishard to get in 1Q 10, a steep drop rom the frst surveyin 3Q 09 when one third (29.0%) believed this.
Expectations o increased sales
This key economic indicator sees quarter-on-quarterimprovement in sentiment in the energy & resourcessector. Positive outlook has increased steadily since ourfrst survey (when it was 41.9%); well over hal (57.6%)o those surveyed now believe revenue rom sales willincrease over the next 12 months.
%10%20%30%40%50%60%70%80%90%100%
3Q 2009 4Q 2009 1Q 2010
19,4%12,1%3,0%0%45,2%57,6%6,1%12,9%18,2%57,6%30,3%9,7%12,9%12,1%3,0%
How do you rate the present availability o credit or yourcompany? Is it...
Easily availableSomewhat availableSomewhat hard to getVery hard to getDon’t know
0%10%20%30%40%50%0%70%80%90%100%
3Q 2009 4Q 2009 1Q 2010
3,2%12,1%19,4%20,6%30,3%35,5%23,5%45,5%41,9%50,0%12,1%2,9%2,9%
In 12 months’ time, do you expect your revenue romsales to...
Increase signifcantlyIncrease somewhatStay unchangedReduce somewhatReduce signifcantlyDon’t know

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