Industry ranking
The average time taken for MIELE COMPANY LIMITED to pay invoices has decreased over the past three periods, from 35 days in 2019 to 28 days in 2021.
The volatility of MIELE COMPANY LIMITED's invoice payment times has decreased over the past three periods, with the average time to pay decreasing by 3 days and the percentage of invoices paid within 30 days increasing by 14%.
From 2018 to 2021, MIELE COMPANY LIMITED has shown improvements in their invoice payment times and adherence to agreed payment terms. The average time to pay has decreased by 8 days and the percentage of invoices paid within 30 days has increased by 9%. However, there was a significant increase in the percentage of invoices paid between 31 and 60 days in 2019, which has since improved. In 2019, there was also a period where the percentage of invoices paid later than 60 days was at its highest, indicating a potential issue with timely payment during that time.
| 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 2021 - 31 Dec 2021 | 25 May 2022 | 28 | 62% | 37% | 1% | 38% |
| 01 Jan 2021 - 30 Jun 2021 | 25 May 2022 | 27 | 63% | 37% | 0% | 37% |
| 01 Jul 2020 - 31 Dec 2020 | 17 May 2022 | 30 | 63% | 36% | 1% | 37% |
| 01 Jan 2020 - 30 Jun 2020 | 17 May 2022 | 22 | 63% | 36% | 1% | 37% |
| 01 Jul 2019 - 31 Dec 2019 | 13 May 2022 | 29 | 62% | 36% | 2% | 38% |
| 01 Jan 2019 - 30 Jun 2019 | 15 Aug 2019 | 35 | 49% | 39% | 13% | 51% |
| 01 Jul 2018 - 31 Dec 2018 | 01 Mar 2019 | 30 | 52% | 46% | 2% | 48% |
| 01 Jan 2018 - 30 Jun 2018 | 01 Mar 2019 | 28 | 53% | 46% | 1% | 47% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days after invoice
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
All disputes must be handled by the vendor's relationship manager. This is the employee who engaged with the vendor
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.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Miele Company Limited is the UK entity trading as Miele, the German-founded premium brand for household and commercial appliances. Its own site describes it as offering kitchen appliances including ovens, hobs, dishwashers, fridges, freezers and coffee machines, alongside laundry products such as washing machines and tumble dryers, plus vacuum cleaners, detergents and accessories. It also runs Experience Centres, cooking classes and customer service including technician bookings and spare parts. Founded in 1899 in Germany and still family owned, Miele positions itself around quality, reliability and long product lifespans. The UK company, registered at Abingdon, represents this manufacturer's appliances and related goods within the domestic market.
Generated from the company's website and Companies House records. Sources: miele.co.uk · miele.co.uk