TIMET UK LIMITED
Company Information
- Company Number
- 00530589
- Registered Address
- P.O.Box 704, Witton, Birmingham, B6 7UR
- Status
- Active
- Employee Count
- 585
- Turnover
- £312,962,000
- EBITDA
- £49,417,000
Additional Details
- Website
- https://timet.com
- Company Type
- Private limited Company
- Incorporated On
- 18 March 1954
- Nature of Business
- 24450 - Other non-ferrous metal production
- Industries
- Raw Materials And Intermediate Goods
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for TIMET UK LIMITED to pay invoices has fluctuated between 60 and 83 days over the past three periods. There has been a slight decrease in the percentage of invoices paid within 30 days, while the percentage of invoices paid between 31 and 60 days has remained relatively stable. The percentage of invoices paid later than 60 days has shown a significant increase in the most recent period, from 63% to 83%, indicating a potential issue with delayed payments.
Volatility Analysis
The data for TIMET UK LIMITED shows a high level of volatility in terms of the average time taken to pay invoices, with fluctuations of up to 23 days between periods. The percentage of invoices paid within 30 days has also shown some volatility, with a range of 10% between the highest and lowest percentages. The percentage of invoices paid later than 60 days has also shown a high level of volatility, with a range of 20% between the highest and lowest percentages.
Summary Analysis
Over the past three periods, TIMET UK LIMITED has shown a consistent average time to pay of around 70-77 days. However, there has been a significant increase in the percentage of invoices paid later than 60 days in the most recent period, indicating a potential issue with delayed payments. The percentage of invoices paid within 30 days has also decreased slightly, while the percentage of invoices paid between 31 and 60 days has remained relatively stable.
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 2023 - 30 Jun 2023 | 30 Oct 2023 | 60 | 17% | 16% | 67% | 8% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Oct 2023 | 64 | 22% | 15% | 63% | 13% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Aug 2022 | 74 | 12% | 12% | 76% | 17% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Aug 2022 | 75 | 9% | 14% | 77% | 25% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Aug 2022 | 81 | 10% | 12% | 78% | 33% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 83 | 12% | 9% | 79% | 30% |
| 30 Dec 2019 - 28 Jun 2020 | 28 Jul 2020 | 77 | 8% | 9% | 83% | 33% |
| 30 Jun 2019 - 29 Dec 2019 | 29 Jan 2020 | 73 | 15% | 11% | 74% | 18% |
| 31 Dec 2018 - 29 Jun 2019 | 01 Aug 2019 | 70 | 8% | 13% | 80% | 20% |
| 01 Jul 2018 - 30 Dec 2018 | 30 Jan 2019 | 67 | 11% | 13% | 76% | 20% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 70 | 8% | 15% | 77% | 11% |
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
Terms range between 30 and 120 days dependent on the nature of the business, however the average terms during this period were 60 days.
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
120
Dispute Resolution Process
We operate a 3 way matching process, where the invoice, Goods receipt and PO should match. Any discrepancies are referred back to the supplier.
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
TIMET UK LIMITED is a British company that specializes in the production of high-performance titanium products. The company was founded in 1948 and is headquartered in Birmingham, UK.
The main activities of TIMET UK LIMITED include the manufacturing and supply of titanium products such as sheets, bars, plates, and tubes for various industries such as aerospace, automotive, and medical. The company is also involved in the development and production of new titanium alloys to meet the changing needs of its customers.
TIMET UK LIMITED places a strong emphasis on sustainability and has implemented various initiatives to reduce its environmental impact. These include the use of renewable energy sources, responsible waste management, and continuous improvement of energy efficiency. The company also collaborates with its suppliers to ensure sustainable sourcing of raw materials.
The key people at TIMET UK LIMITED include the CEO, Mark Kaminski, and the Chairman, John C. Plant. The company has a team of highly skilled and experienced professionals who are committed to delivering high-quality products and services to their customers.
For any inquiries or information, customers can contact TIMET UK LIMITED through their website: www.timet.com. The registered office address is TIMET UK LIMITED, 1 Stocks Road, Stocksbridge, Sheffield, S36 2AN, UK.
In conclusion, TIMET UK LIMITED is a leading producer of titanium products in the UK, with a strong focus on sustainability and a team of dedicated professionals. Their commitment to quality, innovation, and sustainability makes them a trusted partner for various industries.
