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HIGHLIGHTS
References in circular economy:
Volume of recycled material in the production process
>90%
Recycled content rate of our products
>70%
Reuse of waste generated
Average period of payment to suppliers
Law 18/2022 of September 29 on the creation and growth of companies modified the regulations related to the average supplier payment period. The third additional provision, which establishes the duty of disclosure, requires all companies to expressly include their average supplier payment period in the notes to their Annual Accounts. It also requests the monetary volume and number of invoices paid in a period shorter than the maximum established in the late payment regulations, the percentage over the total number of invoices and over the total monetary amount of payments to suppliers. Acerinox takes this modification into account.
The average period of payment to suppliers of the Spanish companies that form part of the Group, after deducting payments made to Group companies, is detailed below:
|
|
2024 |
2023 |
|---|---|---|
|
Days |
Days |
|
|
Average period of payment to suppliers |
67 days |
64 days |
|
Ratio of transactions settled |
66 days |
62 days |
|
Ratio of transactions not yet settled |
72 days |
81 days |
| (Data in thousands of euros) |
Amount |
Amount |
|
Total payments made |
1,108,598 |
2,363,976 |
|
Total payments outstanding |
140,333 |
189,493 |
The table includes payments made to any supplier, whether domestic or foreign, and excludes Group companies.
Considering only domestic suppliers, the average payment period is reduced by three days as shown below:
|
2024 Days |
2023 Days |
|
|---|---|---|
|
Average period of payment to suppliers |
64 days |
57 days |
|
Ratio of transactions settled |
64 days |
55 days |
|
Ratio of transactions not yet settled |
63 days |
77 days |
|
EUR thousands |
Amount |
Amount |
|
Total payments made |
642,355 | 1,235,767 |
|
Total payments outstanding |
83,725 | 108,716 |
2024’s figures were affected by the strike at Acerinox Europa, which caused the factory to be closed for five months, preventing the management of invoices and payments in a timely manner.
The rest of the Group’s Spanish companies comply with the payment terms established for domestic suppliers.
The supplementary information required by regulations is included below:
| 2024 | 2023 | |
| a) Monetary volume of invoices paid within a period equal to or less than the maximum established in the regulations on late payment | 467,243 | 1,129,490 |
| Percentage share of total number of invoices of payments to its suppliers | 42% | 47% |
| b) Number of invoices paid within a period equal to or less than the maximum period established in the late payment regulations | 21,395 | 22,172 |
| Percentage share of total monetary payments to its suppliers | 37% | 40% |