CFO Barometer 2011

CSC

A TIME OFOPPORTUNITIES?

3

CSC IN TOUCH WITH CURRENT TRENDS

Within the framework of its I.D.E.A.S. programme (Inspiration, Debate, Executive Annual Surveys), CSC carries out a number of “barometers” every year to analyse the trends and outlook for key roles within the boardroom (human resources, finance, IT, procurement, etc.) at the European level. Each of these studies, carried out in cooperation with independent market research institutes (IFOP and TNS Sofres), involves the participation of hundreds of managers from the largest businesses and public administrations in Europe. The results of these studies are presented at high level events, organised in various European cities (Paris, Madrid, Barcelona, Milan, Brussels, Lisbon, etc.), and are also published by partners in the media sector (Les Échos, La Tribune, Challenges, L’Expansion, Liaisons Sociales, Il Sole 24 ORE, and others) and in academia (universities and leading institutes for higher education).

6

THE CFO BAROMETER IS A SURVEY THAT HAS BEEN CARRIED OUT FOR THE 4TH CONSECUTIVE YEAR BY CSC, IN CONJUNCTION WITH TNS SOFRES. IT IS BASED ON A QUANTITATIVE ANALYSIS OF THE TRENDS AND OUTLOOK FOR FINANCE MANAGERS FROM A SAMPLE GROUP OF LARGE EUROPEAN COMPANIES.

7

PROCEDURE AND METHODOLOgY

This fourth edition of the CFO Barometer was produced in conjunction with the leading market research institute TNS Sofres, based on a survey carried out among a sample of finance leaders from European companies with over 1,000 employees. They were questioned about market position, concerns, results, the role of the finance department and information systems.

INTERVIEW METHOD

The survey was carried out by TNS Sofres using the CATI method (Computer Assisted Telephone Interview) between December 2010 and January 2011.

TARgET AND SAMPLINg

Private and semi-public companies

• With a minimum of 1,000 employees• Located in France, Germany, the united Kingdom, Italy, Spain,

Belgium and Portugal.

80 managers were questioned (no detailed criteria were applied regarding activity sector or company size). These managers represent the following target positions:

• Chief financial officer / finance director / finance manager.

The sample was adjusted in order to ensure that it was an accurate representation of European companies from within the target activity sectors with at least 1,000 employees.

CFO BAROMETER A EUROPEAN STUDYA TIME OF OPPORTUNITIES?

42

"CFOs HAVE A LARGE RANGE OF PRIORITIES. CERTAINLY, THEY MUST BE ABLE TO MAINTAIN A CONSTANT FOCUS ON THE GROWTH DRIVERS OF THE BUSINESS."

43

TESTIMONIALS

FABIO TOMASSINI CHIEF FINANCIAL OFFICER NUOVO TRASPORTO VIAggIATORI

NTv IS ThE lEAdINg ITAlIAN PRIvATE OPERATOR ON ThE ITAlIAN hIgh-SPEEd RAIl NETwORk. IT IS AlSO ThE FIRST PlAyER TO OPERATE IN A SECTOR OPEN TO COMPETITION. NTv IS A COMPANy bORN OUT OF ThE dRIvE TO INNOvATE, IN whICh STRATEgIC PlANNINg IS CONSIdEREd TO bE A FUNdAMENTAl COMPANy ASSET.

WHAT CAN THE CFO DO NOWADAYS TO ENSURE BOTH BUSINESS CONTINUITY AND gROWTH?

A great deal of uncertainty surrounds the traditional markets, which are characterised by increased competition and the evolution of major macroeconomic factors, in turn increasingly influenced by new international political balances and the steady rise of emerging markets.In this context, CFOs have to juggle numerous priorities. Certainly, they must be able to maintain a constant focus on the growth drivers that enable the business to generate profit and thus ensure its existence in the marketplace. At the same time, the CFO must participate in formulating corporate strategy, by helping identify business opportunities. Lastly, the CFO must safeguard the long-term continuity of the business by monitoring the conditions in which it operates, and making sure neither internal nor external factors change those conditions in a manner that threatens the company’s existence. The current crisis has had a significant impact on the number of players in the market, and has rewarded the leading companies able to ensure their continuity. These businesses have also been able to capitalise on the opportunities for growth linked to market consolidation. Another significant effect of the crisis was to heighten awareness of the need to closely monitor the evolution of risk factors. This implies being able to develop alternative scenarios that enable the rapid implementation of measures required to safeguard the company’s resources.

WHAT ABOUT NTV?

Nuovo Trasporto viaggiatori (NTv) is the leading private Italian high-speed rail network. It has several distinctive features, as it is the first player to operate in a sector that is open to competition, in which the liberalisation process is still underway, and it is there thanks to the strong commitment of its shareholders and banks who have provided significant amounts of capital and credit. In this context, the priority of the finance department was to define an efficient financial planning process to ensure the availability of the resources needed to develop the business, and to put in place a management control model that would enable quick corrective action to be taken.The choice of focusing on planning activities implies two major elements: a widespread awareness within the company of the key operational drivers of the business, and the support of top management to ensure the implementation of a structured and objective financial planning process.

WHAT CAN THE CFO DO TO PROTECT HIS BUSINESS FROM POSSIBLE FUTURE CRISES?

Financial resources are increasingly considered to be a real production factor and the corresponding suppliers demand – in addition to an adequate compensation for the risk associated with the project or company – a certain stability and continuity of the business. To ensure business continuity and proper remuneration for risk, it is crucial for the company to focus on pursuing long-term objectives while maintaining sufficient flexibility to enable it to seize opportunities for growth and to withstand volatility and turbulence in the short to medium term. The CFO can help top management define a method to measure value creation in order to reconcile two requirements: firstly, to guarantee the implementation of the right strategic plan in order to achieve long-term goals; and secondly, to be able to react to unexpected events.

HOW ARE YOU REACTINg TO THE NEW ECONOMIC SITUATION, CHARACTERISED BY THE STAgNATION OF WESTERN MARKETS AND STRONg EMERgINg MARKET gROWTH?

NTv is currently operating in a national market and, given the specific nature of its business, its supply markets are not located in the emerging markets such as those collectively called the BRIC countries. I believe that the stagnation of European markets can only be overcome through structural measures at the Eu level.

Designed and produced by CSC’s South and West Region Marketing & Communications department.© 2011 CSC. All rights reserved.

About CSC

The mission of CSC is to be a global leader in providing technology-enabled business solutions and services.With the broadest range of capabilities, CSC offers clients the solutions they need to manage complexity, focus on core businesses, collaborate with partners and clients and improve operations CSC makes a special point of understanding its clients and provides experts with real-world experience to work with them. CSC is vendor independent, delivering solutions that best meet each client’s unique requirements.

For 50 years, clients in industries and governments worldwide have trusted CSC with their business process and information systems outsourcing, systems integration and consulting needs.

The company trades on the New York Stock Exchange under the symbol “CSC.”

CSC

REGIONAL HEADQUARTERS

Immeuble Balzac10, place des vosges92072 Paris-la Défense Cedex+33 1 55 70 70 70

BelgiumCorporate villageLeonardo Da vincilaan 31935 zaventem+32 2 714 71 11

FranceImmeuble Balzac10, place des vosges92072 Paris-la Défense Cedex+33 1 55707070

Axe Liberté14, place de la Coupole94227 Charenton+33 1 43 53 57 57

AéropôleBâtiment 5,2e étage5, avenue Albert-Durand31700 Blagnac+33 5 67 69 89 00

Luxembourg12D Impasse DrosbachL-1882 LuxembourgTel: +352.24.83.42.60

PortugalLagoas Park, Edifício 12740-264 Porto Salvo+351 21 00 40 800

ItalyCentro Direzionale MilanofioriStrada 3, Palazzo B120090 Assago (MI)+39 0257775.1

via Paolo di Dono 7300142 Roma+39 06 515061

via San Crispino 2835129 Padova+39 049 6983111

Strada Pianezza 28910151 Torino+39 011 4904768

SpainAv. Diagonal, 545 Planta 608029 Barcelona+ 34 93 493 09 00

C/ Pedro Teixeira, 8 - 5ª PlantaEdificio Iberia Mart I28020 Madrid +34 91 555 35 00

CSC Asturias IT Service Centervalle de Tamón, s/n33469 – Avilés+34 985 12 41 01

CSC HEADQUARTERS

The Americas3170 Fairview Park DriveFalls Church, vA. 22042united States+1 703 876 1000

Europe, Middle East,AfricaRoyal PavilionWellesley RoadAldershot,Hampshire Gu11 1Pzunited Kingdom+44 (0)1252 534000

Australia26 Talavera RoadMacquarie Park, NSW 2113Australia+61 (0) 29034 3000

Asia20 Anson Road #11-01 Twenty Anson Singapore 079912 +65 6221 9095