PHILLIPS 66 LIMITED

Company Information

Company Number
00529086
Registered Address
7th Floor, 200-202 Aldersgate Street, London, EC1A 4HD
Status
Active
Employee Count
968.0
Turnover
24002000000.0
EBITDA
1246000000.0

Additional Details

Company Type
Private limited Company
Incorporated On
10 February 1954
Nature of Business
19201 - Mineral oil refining
Industries
Property,Infrastructure And Construction
Region
London

Company Location

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Financial Metrics

Cash
£492,439,556.00
Net Worth
£2,635,238,942.00
Total Current Assets
£3,929,813,212.00
Total Current Liabilities
£2,399,126,708.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-01-31

Time to Pay

Average Time to Pay
28 days
Shortest Period:2 days
Longest Period:0 days
Max Contractual:45 days

Payment Timeline

Within 30 Days
89%
31-60 Days
9%
After 60 Days
2%
Not Paid Within Terms15%

Payment Features

Participates in Codes✗ No
E-Invoicing✓ Yes
Supply Chain Finance✗ No

Payment Time Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Dec 2020Jun 2020Dec 2019Jun 2019Jun 201808162432

Payment Distribution Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Dec 2020Jun 2020Dec 2019Jun 2019Jun 20180255075100

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202331 Jan 20242889%9%2%15%
01 Jan 2023 - 30 Jun 202302 Aug 20232776%23%1%27%
01 Jul 2022 - 31 Dec 202231 Jan 20232893%5%2%9%
01 Jan 2022 - 30 Jun 202225 Jul 20222785%13%2%19%
01 Jul 2021 - 31 Dec 202128 Jan 20222880%18%2%23%
01 Jan 2021 - 30 Jun 202130 Jul 20212991%8%2%8%
01 Jul 2020 - 31 Dec 202028 Jan 20213091%7%2%12%
01 Jul 2020 - 31 Dec 202028 Jan 2021
01 Jan 2020 - 30 Jun 202030 Jul 20203090%6%3%11%
01 Jul 2019 - 31 Dec 201924 Jan 20202993%6%1%8%
01 Jan 2019 - 30 Jun 201919 Jul 20192894%5%1%9%
01 Jul 2018 - 31 Dec 201828 Jan 20192895%4%1%7%
01 Jan 2018 - 30 Jun 201827 Jul 20182892%7%1%11%

Company Summary

Phillips 66 Limited is a leading energy company based in the United Kingdom

They are committed to sustainable practices and have implemented various initiatives to reduce their environmental footprint

Their sustainability program includes investing in renewable energy, reducing greenhouse gas emissions, and promoting responsible production and consumption

They also have a strong focus on safety and community engagement, striving to make a positive impact on the areas where they operate

Phillips 66 Limited offers a range of products and services, including transportation fuels, lubricants, and petrochemicals

They also have a network of more than 1,000 fuel stations across the UK, providing quality fuel and convenience store items to customers

The key people at Phillips 66 Limited include the CEO, Greg Garland, and the Managing Director for the UK and Ireland, Mary Wolf

They lead a team of dedicated employees who are committed to the company's sustainability efforts

The registered office address for Phillips 66 Limited is at 7th Floor, 25 Canada Square, London, E14 5LQ, United Kingdom

Their website, www.phillips66.co.uk, provides information on their products, services, and sustainability initiatives

Customers can also contact them via email at info@phillips66.com or by phone at +44 (0)20 7648 1000

Overall, Phillips 66 Limited is a responsible and innovative company that is making a positive impact in the energy industry

Company Review

Trend Analysis

The average time taken for PHILLIPS 66 LIMITED to pay invoices has remained relatively stable at around 28-30 days over the past three periods. However, there has been a slight increase in the percentage of invoices paid later than 60 days, from 1-2% in 2018-2019 to 3% in 2020-2021. This could potentially indicate a slowdown in the company's payment processes.

Volatility Analysis

The volatility in the percentage of invoices paid within 30 days has been relatively low, with only a 5% difference between the lowest (76%) and highest (95%) periods. However, there has been more volatility in the percentage of invoices paid between 31-60 days, with a 14% difference between the lowest (4%) and highest (18%) periods. This could suggest that the company's payment policies and processes have fluctuated over the past three periods.

Summary Analysis

On average, PHILLIPS 66 LIMITED takes around 28 days to pay invoices to suppliers. The company has consistently paid the majority of their invoices within 30 days, with percentages ranging from 80% to 95% over the past three periods. However, there has been a slight increase in the percentage of invoices paid later than 60 days in the most recent period, reaching 23%. This is the highest recorded percentage of late payments for the company, potentially indicating a need for improvement in their payment processes.

Invoice Payment Practices

This information is as reported by the business, and responses are in their own words.

Payment Terms

Standard payment terms

Standard contractual terms relating to payment for the procurement of goods and/or services is 30 days from receipts of the invoice. In the commodities traded market Phillips 66 uses industry standard terms which are negotiated with the suppliers as part of contractual negotiation

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

45

Dispute Resolution Process

Phillips 66 Vendors can use the Actian website that allows suppliers to view and monitor their account information, also we have an 8 am to 4.30pm accounts payable telephone number. Queries relating to the payment of invoices should, in the first instance be raised through the Actian website or the account payable telephone number, we also have an email address Transaction.account@p66.com for vendor to follow up on queries.

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