Payment to our suppliers


In relation to the payment terms in commercial transactions, the current legislation has the overall objective of promoting greater transparency in the determination of such term compliance:

Law 3/2004 of 29 December, laying establecia combating the delinquency in commercial operations (BOE no. 314 of 30/12/2004)


According to a study by the National Federation of Workers Autónomos Associations (ATA), micro pay their invoices in 47 business days and a staff of nine to 50 workers in 54 days; ie their payment periods are within the limits marking the said Act default, which estimates that payments between companies must be exercised before 60 days. However, SMEs with a staff of 50 to 250 employees paid in 68 days, companies with 250 to 1,000 employees are 114 days and with more than 1,000 employees paid with a delay of 119 days, well above of that limit. Therefore, the larger the company delay the payments of their bills, despite having more financial resources.

See the report here delinquency Autónomos Febrero 2016 ATA 2017


Clearly this high delinquency affects the functioning of the market, deteriorating confidence among agents and generates uncertainty. We know we are and why we make an effort to correct this situation. During the last three years (from the date of this report), the average period of payment to our suppliers is 27.25 days, and during the last year of 19.26 days.


The calculated quarterly payment periods are as follows:

3Q 2015 (in days): 92.06

Q4 2015 (in days): 79.50

1Q 2016 (in days): 11.81

Q2 2016 (in days): 10.43

3Q 2016 (in days): 4.27

Q4 2016 (in days): 47.02

1Q 2017 (in days): 5.33

Q2 2017 (in days): 15.46

3Q 2017 (in days): 63.61

Q4 2017 (in days): 61.42

1Q 2018 (in days): 9.48

Q2 2018 (in days): 12.85

3Q 2018 (in days): 19.16


Criteria for calculation of payment periods

The period of payment of an invoice is paid the difference (in days) between the date of actual payment total, accredited by the corresponding bank note and the date of issue of the invoice. According to this criterion, the payment period is negative when the issue date of the invoice is subsequent to the date of payment.

The average payment period is calculated as the arithmetic average of the payment periods of all invoices with date of issue included in the time interval considered. According to this criterion, the value of the average period of payment is definitively fixed when all the bills have been settled interval considered.



4th Edition (11.26.2018)

Written and approved by

Joaquim Iborra Posadas