GE ENERGY UK LIMITED
Company Details
Registration Number
00123550
Registered Address
3rd Floor 1 Ashley Road Altrincham Cheshire United Kingdom WA14 2DT
Company Status
Active
Employee Count
313
Turnover
£40,925,000
EBITDA
£1,986,000
Additional Information
Website
gepower.comCompany Type
Private limited Company
Incorporated on
1 August 1912
Nature of Business (SIC)
33200 - Installation of industrial machinery and equipment
Industries
0
Region
North WestCompany Location
Financial Overview
£0
£9,597,000
Last Reporting Period
Filed
30 Jan 2020
Period
01 Jul 2019 - 31 Dec 2019
Payment Timing
Average Time to Pay
48 days
Payment Periods
Shortest
90 days
Longest
120 days
Max Contractual
150 days
Payment Timeline
Not Paid Within Terms
62%
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 48 | 49% | 27% | 25% | 62% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 35 | 63% | 18% | 19% | 33% |
Company Summary
GE Energy (UK) Limited is a subsidiary of the multinational conglomerate General Electric (GE)
The company provides a wide range of energy solutions and services to customers in the United Kingdom
Their sustainability program is focused on reducing carbon emissions and promoting renewable energy sources such as wind, solar, and hydro power
They are committed to achieving net-zero carbon emissions by 2030 and have implemented various initiatives to achieve this goal
This includes investing in clean energy technologies, developing energy-efficient products, and promoting sustainable practices within their own operations
The company offers a variety of products and services in the energy sector, including power generation systems, gas turbines, renewable energy solutions, and smart grid technologies
They also provide maintenance and repair services for their products to ensure optimal performance and longevity
Some key people at GE Energy (UK) Limited include Mark Elborne, the President and CEO of GE UK and Ireland, and Peter Loosley, the Managing Director of GE Energy in the UK
They lead a team of highly skilled professionals dedicated to delivering innovative and sustainable energy solutions to their customers
To learn more about GE Energy (UK) Limited and their products and services, interested individuals can visit their website at www.ge.com/uk
The company's registered office address is GE Energy (UK) Limited, 1st Floor, 1 Great West Road, Brentford, Middlesex, TW8 9DX, United Kingdom
Company Review
Trend Analysis
The trend for GE ENERGY (UK) LIMITED between the start of 2019 and mid-2020 shows a fluctuation in their average time to pay invoices. In the first half of 2019, the company had an average time to pay of 35 days, which increased to 48 days in the second half of the year. However, in the first half of 2020, the average time to pay decreased to 37 days.
Volatility Analysis
The volatility of GE ENERGY (UK) LIMITED's payment patterns can be seen in the fluctuation of the percentage of invoices paid within 30 days and those paid later than 60 days. In the first half of 2019, 63% of invoices were paid within 30 days, but this dropped to 49% in the second half of the year. However, in the first half of 2020, the percentage increased to 61%. Similarly, the percentage of invoices paid later than 60 days increased from 19% in the first half of 2019 to 25% in the second half, but then decreased to 19% in the first half of 2020.
Summary Analysis
Between the start of 2019 and mid-2020, GE ENERGY (UK) LIMITED showed a slight improvement in their payment patterns. The average time to pay decreased from 35 days to 37 days, and the percentage of invoices paid within 30 days increased from 63% to 61%. However, there was still room for improvement as 19% of invoices were paid later than 60 days in the first half of 2020.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
90 days generally applies to UK domestic suppliers
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
150
Dispute Resolution Process
Accounts Payable escalate any disputes to sourcing team who engage supplier to establish agreed term
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
❌
