GKN AEROSPACE SERVICES LIMITED
Company Information
- Company Number
- 00355922
- Registered Address
- 11th Floor The Colmore Building, Colmore Circus Queensway, Birmingham, United Kingdom, B4 6AT
- Status
- Active
- Employee Count
- 3,508
- Turnover
- £601,000,000
- EBITDA
- £61,000,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 12 August 1939
- Nature of Business
- 30300 - Manufacture of air and spacecraft and related machinery
- Industries
- Supply Chain,Manufacturing And Commerce Models,Travel And Transportation
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The data shows a consistent trend of GKN AEROSPACE SERVICES LIMITED taking longer to pay invoices over time. The average time to pay has increased from 81 days in the first period to 95 days in the last period. This is an overall increase of 17.3%.
Volatility Analysis
The data also shows some volatility in the percentage of invoices paid within 30 days, with a decrease from 14% in the previous period to 9% in the last period. This is a decrease of 35.7%. There is also volatility in the percentage of invoices paid between 31 and 60 days, with a decrease from 24% to 18% in the last period. This is a decrease of 25%. However, the percentage of invoices paid later than 60 days has remained relatively stable between 63-73% over the periods.
Summary Analysis
The data shows that in the last three periods, GKN AEROSPACE SERVICES LIMITED has consistently taken longer to pay invoices. The average time to pay has increased by 14.8% compared to the first three periods. The percentage of invoices paid within 30 days has decreased by 1%, while the percentage of invoices paid between 31 and 60 days has increased by 3%. The worst period for late payments was in the 2020-2021 period, where 29% of invoices were paid later than 60 days.
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 Jan 2025 - 30 Jun 2025 | 22 Oct 2025 | 102 | 5% | 16% | 79% | 19% |
| 01 Jul 2024 - 31 Dec 2024 | 13 May 2025 | 99 | 7% | 15% | 78% | 15% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 95 | 9% | 18% | 73% | 25% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 94 | 7% | 18% | 75% | 24% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 93 | 9% | 18% | 73% | 25% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 77 | 13% | 22% | 65% | 20% |
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 76 | 13% | 24% | 63% | 18% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 75 | 13% | 22% | 65% | 21% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 72 | 17% | 29% | 54% | 29% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 79 | 12% | 20% | 68% | 22% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 79 | 14% | 22% | 64% | 20% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 78 | 11% | 22% | 67% | 17% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 79 | 10% | 23% | 67% | 3% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 79 | 10% | 23% | 67% | 36% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 81 | 10% | 21% | 69% | 0% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The company’s standard terms and conditions of purchase (available at https://www.gknaerospace.com/globalassets/downloads/aerospace---aog/final---conditions-of-sale-of-gkn-aerospace-services-ltd.pdf/) provide that payment will be due within 90 days of the end of the month of receipt of a validly issued invoice. However, in practice these terms only apply in the absence of agreement and the company agrees payment terms with its suppliers on a case by case basis. The most frequently agreed terms are 90 days from the end of the month in which the invoice is received.
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
180
Dispute Resolution Process
The company does not have a formal dispute resolution process. Any disputes or queries should be raised with the relevant company contact for that particular contract. This varies from contract to contract, but will often be a member of the company’s purchasing function. That person will attempt to resolve that dispute with the supplier informally in the first instance. Formal legal disputes are rare and there have been no formal legal disputes between the company and its suppliers in the reporting period.
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?
No information available
Company Summary
GKN AEROSPACE SERVICES LIMITED is a British company that specializes in manufacturing and supplying aerospace components and systems. They are a global leader in the aerospace industry and provide innovative solutions for customers in both the civilian and military sectors.
The company has a strong focus on sustainability and has implemented various initiatives to reduce their environmental impact. This includes investing in renewable energy sources, improving energy efficiency, and reducing waste through recycling and reuse programs.
Their products and services include a wide range of aerospace components such as engines, landing gear, and structures. They also offer engineering services, advanced manufacturing capabilities, and maintenance, repair, and overhaul services.
The key people at GKN AEROSPACE SERVICES LIMITED include CEO Hans Büthker and CFO Andrew Reynolds Smith, who lead a team of over 17,000 employees worldwide.
Their website address is www.gknaerospace.com and their registered office address is located at Redditch Road, Birmingham, B33 0NT, United Kingdom. Customers can contact the company through their website or by phone at +44 (0) 121 717 3700 for any inquiries or to learn more about their products and services.
