CEO INSIGHTS – Week Ending 9 May 2025

Media & Telecommunications

“Whilst the election did bring some money into the advertising market in March and April, the current economic and market uncertainty is impacting the outlook for the balance of this financial year.” Matt Stanton, CEO, Nine Entertainment Co Holdings Ltd

“Despite slower market growth and intense competition, our Mobile business grew strongly.” Iñaki Berroeta, CEO, TPG Telecom Ltd

Tariffs

"It's still too early to fully understand our competitors' responses to these tariffs." Jim Farley, CEO, Ford Motor Company

“Trade and consumer sentiment was already volatile in the USA, and this has been amplified over the past month, on an almost daily basis, by the ongoing tariff announcements." Market Statement, City Chic Collective Ltd

Inflation

"Price increases to mitigate tariffs are in the process of being implemented." Market Statement, Reliance Worldwide Corp Ltd

Consumer Spending

“In F25 year-to-date, consumer spending activity outside of key social occasions has remained relatively subdued and there are only a limited number of these events left in the remainder of F25.” Market Statement, Endeavour Group Ltd

“Robust retailer and shopper confidence underpins positive 3Q FY25 [financial results].” Market Statement, Vicinity Centres Ltd

Small Business

“We are seeing a fair bit of pressure there [on business customers] and this pressure has been there for a while. Small businesses are doing it pretty tough because of all the inflationary pressures, the cost of doing business pressures regulation that is making it more expensive and more difficult to do business in Australia.” Rob Scott, CEO, Wesfarmers Ltd

Credit Quality

“The resilience of customers who have navigated significant cost-of-living challenges over the past few years is impressive…This resilience is reflected in the improvement in credit quality metrics, indicating we may have passed the low point in the cycle.” Anthony Miller, CEO, Westpac Banking Corp.

Navy & Defence

“The naval market is expected to grow from €78 billion in 2024 to over €100 billion by 2033, with the Asia-Pacific to lead growth.” Market Statement, Austal Ltd

Consumer Electronics

“In a challenging and competitive retail market, we are pleased to see sales momentum continue in Q3 FY25.” Terry Smart, CEO, JB Hi-Fi Ltd

Shipping Rates

“The US-China tariff war has been a net positive for our business, most directly felt through lower inbound shipping rates [forward rates down ~20%].” Mark Coulter, CEO, Temple & Webster Ltd

Building Sector

“We have seen close to 7000 insolvencies in three years. That is a really significant event for a market to work its way through. The fact that you have wonderful tier one builders losing money, still, four years after Covid, that is a sign that things have to correct in a certain way. I think ultimately, the cost of building everything, in every asset class, is going up, and going up for a period of time.” Campbell Hanan, CEO, Mirvac Group

"Forecasts for the residential market show detached housing approvals lifting in 2025 as interest rates start to fall. Total residential starts in 2025 are forecast to be slightly higher than 2024, however the pipeline of work that sustained volumes over the past two years has been completed. The non-residential market is forecast to be steady in 2025 as are our key industrial markets." Tony Dragicevich, CEO, Capral Ltd

Weight Loss, Pharmacies & Protein

“We have been seeing broadly consistent impacts in terms of trading conditions, still achieving double-digit sales growth. The GLP-1s [weight-loss drugs] are proving to be very popular. That wasn’t there last year. It is a combination of market acceptance of the drugs and stock availability that has changed.” Mark Davis, CFO, Sigma Healthcare Ltd

“[Studies] shows a very significant increase among U.S. consumers in protein and part of that has to do with the use of weight loss drugs and the need to increase protein intake if you're on one of those drugs…So we're seeing that intensification of interest in the U.S. consumer around protein, we are a very clean source of protein.” Ethan Brown, CEO, Beyond Meat Inc.

Travel Agents

“While uncertainty has impacted near-term travel patterns and choice of destination, this is largely timing and is expected to rebound in FY26.” Andrew Burnes, CEO, Helloworld Travel Ltd

Semiconductors

“What we are seeing increasingly across the board, whether it's in the automotive sector, particularly in hyperscalers, but even broadly across other markets is customisation of silicon is a significant way for companies to not only differentiate from a performance standpoint, but unlock some very unique features.” Rene Haas, CEO, Arm Holdings Plc.

Dating

The demand for love is global, robust and it is at an all-time high. I mean you don't need me to tell you this, but loneliness is the topic of every conversation. People are craving real human connection more than ever. And people are digital first. We are not going to go back to meeting people just off-line.” Whitney Herd, CEO, Bumble Inc.