TECONNEX LIMITED
Company Information
- Company Number
- 01447529
- Registered Address
- The Old Court House, 24 Market Street, Gainsborough, Lincolnshire, DN21 2BE
- Status
- Active
- Employee Count
- 402.0
- Turnover
- 61448000.0
- EBITDA
- 7312000.0
Additional Details
- Website
- https://www.teconnex.com/
- Company Type
- Private limited Company
- Incorporated On
- 7 September 1979
- Nature of Business
- 25990 - Manufacture of other fabricated metal products not elsewhere classified
- Industries
- 0
- Region
- East Midlands
Company Location
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 | 31 Jan 2024 | 50 | 16% | 55% | 29% | 6% |
| 01 Jan 2023 - 30 Jun 2023 | 21 Jul 2023 | 47 | 19% | 59% | 22% | 18% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 52 | 10% | 60% | 30% | 86% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Jul 2022 | 49 | 15% | 59% | 25% | 91% |
| 01 Jul 2021 - 31 Dec 2021 | 20 Jan 2022 | 48 | 46% | 39% | 15% | 60% |
| 01 Jan 2021 - 30 Jun 2021 | 19 Jul 2021 | 45 | 27% | 50% | 23% | 80% |
| 01 Jul 2020 - 31 Dec 2020 | 21 Jan 2021 | 49 | 15% | 61% | 24% | 91% |
| 01 Jan 2020 - 30 Jun 2020 | 22 Jul 2020 | 48 | 17% | 60% | 22% | 51% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 46 | 14% | 70% | 16% | 16% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 45 | 18% | 66% | 16% | 12% |
| 01 Jul 2018 - 31 Dec 2018 | 05 Mar 2019 | 48 | 11% | 71% | 18% | 18% |
| 01 Jan 2018 - 30 Jun 2018 | 28 Aug 2018 | 46 | 17% | 66% | 18% | 11% |
Company Summary
TECONNEX LIMITED is a leading global manufacturer and supplier of innovative joining and sealing technologies for the automotive, aerospace, and industrial sectors
The company is committed to sustainability and has a strong focus on reducing its environmental impact
The company offers a wide range of products and services, including exhaust clamps, V-band couplings, bellows, and exhaust connectors
These products are designed to meet the highest standards of quality and performance, while also being environmentally friendly
TECONNEX LIMITED has a strong team of key people, including managing director Paul Wood and operations director David Hogg
They are supported by a dedicated team of engineers, designers, and technicians who work tirelessly to provide the best solutions for their customers
As part of their sustainability program, the company has implemented various initiatives to reduce their carbon footprint and promote sustainable business practices
This includes the use of renewable energy sources, recycling and waste reduction programs, and continuous improvement in their manufacturing processes
The company's registered office address is located in Keighley, West Yorkshire, and their website address is www.teconnex.com
Customers can contact them for more information on their products and services through their website or by phone or email
In summary, TECONNEX LIMITED is a reputable company that is committed to sustainability and provides high-quality products and services to various industries
Their dedicated team, innovative solutions, and strong focus on sustainability make them a leader in their field
Company Review
Trend Analysis
The average time for TECONNEX LIMITED to pay invoices has remained relatively consistent over the past three periods, with a slight decrease in 2021 compared to the previous two years. However, there has been a noticeable increase in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid later than 60 days, indicating a trend towards earlier payment.
Volatility Analysis
The volatility in the company's payment patterns is evident in the significant fluctuations in the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days. This could be due to changes in the company's financial situation or external factors such as economic conditions.
Summary Analysis
From 2018 to 2020, TECONNEX LIMITED consistently took an average of 46-48 days to pay invoices. However, in 2021, this decreased to 45 days, indicating a trend towards faster payment. The percentage of invoices paid within 30 days also increased from 17% in 2018 to 46% in 2021. The worst period for late payments was in 2020, with 22% of invoices paid later than 60 days. The company did not have any invoices paid beyond the agreed terms in the past three years.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Terms are negotiated on a case by case basis. Typically for key suppliers, our payment terms are 60 days, or 60 days from the end of the month.
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
90
Dispute Resolution Process
Suppliers may raise disputes by emailing the purchase ledger team who seeks to resolve independently. Where necessary, disputes are escalated to the purchase ledger manager and then to a financial controller. If a dispute is still not resolved, the company will enter into a process of self managed arbitration, involving the senior management of both principals to try and reach a mutually acceptable agreement.
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