RENISHAW P L C
Company Information
- Company Number
- 01106260
- Registered Address
- New Mills, Wotton Under Edge, Gloucestershire, GL12 8JR
- Status
- Active
- Employee Count
- 5136.0
- Turnover
- 688573000.0
- EBITDA
- 164515000.0
Additional Details
- Website
- https://www.renishaw.com/
- Company Type
- Public limited Company
- Incorporated On
- 4 April 1973
- Nature of Business
- 26512 - Manufacture of electronic industrial process control equipment
- Industries
- Supply Chain,Manufacturing And Commerce Models
- Region
- South West
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
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 2023 - 31 Dec 2023 | 01 Feb 2024 | 46 | 24% | 67% | 9% | 21% |
| 01 Jan 2023 - 30 Jun 2023 | 18 Aug 2023 | 43 | 34% | 58% | 9% | 19% |
| 01 Jul 2022 - 31 Dec 2022 | 06 Feb 2023 | 48 | 18% | 71% | 11% | 26% |
| 01 Jan 2022 - 30 Jun 2022 | 21 Sept 2022 | 51 | 10% | 75% | 15% | 33% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 48 | 7% | 81% | 12% | 34% |
| 01 Jul 2020 - 31 Dec 2020 | 22 Jan 2021 | 46 | 11% | 80% | 9% | 27% |
| 01 Jan 2020 - 30 Jun 2020 | 06 Aug 2020 | 46 | 15% | 77% | 8% | 26% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 44 | 11% | 83% | 6% | 26% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 45 | 10% | 82% | 8% | 27% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 47 | 9% | 83% | 8% | 27% |
| 01 Jan 2018 - 30 Jun 2018 | 06 Aug 2018 | 46 | 11% | 80% | 9% | 25% |
| 01 Jul 2017 - 31 Dec 2017 | 24 Jan 2018 | 46 | 11% | 82% | 7% | 25% |
Company Summary
Renishaw P L C is a global engineering and scientific technology company based in Gloucestershire, United Kingdom
The company specializes in precision measurement and healthcare solutions, with a strong focus on sustainability
The company's sustainability program, called "Green Goals," aims to reduce its environmental impact by minimizing waste, energy consumption, and carbon emissions
Renishaw also actively promotes sustainability within its supply chain and encourages its employees to participate in environmentally-friendly initiatives
Renishaw's products and services include precision metrology equipment, additive manufacturing (3D printing) systems, and medical devices such as dental scanners and neurosurgical robots
These products and services are used in a wide range of industries, including aerospace, automotive, and healthcare
The key people in Renishaw include its co-founders, Sir David McMurtry and John Deer, who continue to play an active role in the company as chairman and deputy chairman, respectively
Will Lee is the current CEO and responsible for the day-to-day operations of the company
For more information on Renishaw's products and services, their website address is www.renishaw.com
The registered office address is New Mills, Wotton-under-Edge, Gloucestershire, GL12 8JR, United Kingdom
Renishaw also has offices and facilities in various countries around the world, including the United States, China, and India
Company Review
Trend Analysis
The average time taken for RENISHAW P L C to pay invoices has fluctuated over the past three periods, with a slight decrease in 2023 compared to 2022 and 2021.
Volatility Analysis
The percentage of invoices paid within 30 days has been relatively stable, ranging from 7% to 34%. However, there has been more volatility in the percentage of invoices paid between 31 and 60 days and later than 60 days, with a high of 83% and a low of 58%.
Summary Analysis
From 2021 to 2023, the average time taken for RENISHAW P L C to pay invoices has ranged from 43 to 51 days. There has been a slight decrease in 2023 compared to the previous two periods.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
It is the Company policy to agree appropriate terms of payment with each supplier, and to pay invoices in line with those terms subject to the timely submission of satisfactory invoices. Payment runs for each currency are made at both the middle and end of each month. To avoid invoices on the standard terms of 60 days being paid late, we endeavour whenever possible to pay these on month end 30 day terms. This approach results in the average time taken to pay invoices being 46 days compared to the standard 60 day terms.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
21% of invoices due in the period were not paid within the contractual terms. Most invoices paid beyond the due date were on 30 day terms or less. Of the invoices paid beyond terms, 40% were paid on the next available bi-monthly payment run and were therefore paid within two weeks of the due date. The 21% of payments not paid within terms includes items that were still in dispute at the due date. Invoices are paid promptly once disputes are resolved. During the reporting period, 91% of invoices were paid within 60 days. Many of the invoices paid beyond 60 days relate to either intercompany supplies or disputed invoices.
Maximum contractual payment period agreed
90
Dispute Resolution Process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We seek to resolve queries as quickly as possible to both party’s satisfaction prior to payment being made. Invoice queries are dealt with in the first instance by the Purchasing Department who are made aware of issues within a week of Accounts Payable receiving the invoice. Senior managers from both the Finance and Purchasing Departments review follow up activities on outstanding queries each month. An escalation process is in place whereby items not satisfactorily resolved in the first instance are elevated to the Divisional General Manager, the Head of Group Finance and ultimately to the Group Finance Director.
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.
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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
