Set forth below are the disclosures required by Final Provision Two of Law 31/2014, of 3 December (amended by Additional Provision Three of Law 18/2022, of 28 September), prepared in accordance with the Spanish Accounting and Audit Institute (ICAC) Resolution of 29 January 2016 on the disclosures to be included in notes to financial statements in relation to the average period of payment to suppliers in commercial transactions.
2023 | 2022 | 2021 | |
---|---|---|---|
Days | Days | Days | |
Average Period for Payment to Suppliers | 77,76 | 85,50 | 92,2 |
Ratio of transactions settled | 75,94 | 85,53 | 87,93 |
Ratio of transactions not yet settled | 83,43 | 85,43 | 104,52 |
Thousands of Euros | Thousands of Euros | Thousands of Euros | |
Total payments made | 1.316.672 | 887.789 | 796.332 |
Total payments outstanding | 424.205 | 373.357 | 276.143 |
Invoices paid to suppliers in a period shorter than the legal maximum period | |||
---|---|---|---|
Thousands of Euros | Number of invoices | % to total payments | % to the total number of invoices |
398.084 | 102.530 | 30% | 27% |
For the sole purpose of the disclosures provided for in the Resolution, suppliers are considered to be the trade creditors for the supply of goods or services included in “Payable to Suppliers” and “Other Payables” under current liabilities in the accompanying consolidated balance sheet.
The statutory maximum payment period applicable to the Parent in 2023 under Law 3/2004, of 29 December, on combating late payment in commercial transactions and pursuant to the transitional provisions contained in Law 15/2010, of 5 July, was 60 days, unless no payment date or period has been agreed, in which case the maximum payment period would be 30 days.