GARMIN (EUROPE) LIMITED
Company Information
- Company Number
- 02724437
- Registered Address
- Liberty House, Hounsdown Business Park, Southampton, Hampshire, SO40 9LR
- Status
- Active
- Employee Count
- 404
- Turnover
- £1,345,648,000
- EBITDA
- £47,121,000
Additional Details
- Website
- https://garmin.com
- Company Type
- Private limited Company
- Incorporated On
- 19 June 1992
- Nature of Business
- 46520 - Wholesale of electronic and telecommunications equipment and parts
- Industries
- Supply Chain
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
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 | 19 Jan 2024 | 68 | 19% | 18% | 63% | 32% |
| 01 Jan 2023 - 30 Jun 2023 | 05 Sept 2023 | 80 | 19% | 23% | 58% | 40% |
| 01 Jul 2022 - 31 Dec 2022 | 02 Mar 2023 | 67 | 43% | 9% | 48% | 39% |
| 01 Jan 2022 - 30 Jun 2022 | 09 Nov 2022 | 48 | 30% | 37% | 33% | 9% |
| 01 Jul 2021 - 31 Dec 2021 | 25 Jan 2022 | 46 | 32% | 40% | 28% | 8% |
| 27 Dec 2020 - 26 Jun 2021 | 27 Jul 2021 | 48 | 33% | 31% | 36% | 18% |
| 29 Jun 2020 - 26 Dec 2020 | 26 Jul 2021 | 57 | 26% | 29% | 45% | 23% |
| 29 Dec 2019 - 28 Jun 2020 | 28 Jul 2020 | 50 | 31% | 32% | 37% | 4% |
| 30 Jun 2019 - 28 Dec 2019 | 28 Jan 2020 | 51 | 34% | 27% | 39% | 6% |
| 30 Dec 2018 - 29 Jun 2019 | 26 Jul 2019 | 49 | 36% | 28% | 36% | 9% |
| 30 Jun 2018 - 29 Dec 2018 | 25 Jan 2019 | 44 | 41% | 32% | 27% | 15% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 39 | 44% | 43% | 13% | 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
Garmin (Europe) Limited's standard payment terms state that for third party invoices for goods and services payment will be made in 30 days from the end of the month of receipt of a correct, undisputed and properly due invoice. The standard payment terms in respect to other Garmin entities is 90 days from receipt of a correct, undisputed and properly due invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
During 2024 H1, there was a deferred payment plan with a key intercompany supplier, if related party transactions are removed our average number of days taken to pay reduces from 76 to 31.
Maximum contractual payment period agreed
90
Dispute Resolution Process
Garmin (Europe) Limited makes every effort to resolve any payment dispute in a timely and fair manner. Disputes are resolved through discussion, and suppliers should contact the Accounts Payable Administrator at: accounts. payable-ge@garmin.com. Communication with the supplier will be made in the shortest possible timescale to ensure quick resolution.
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
GARMIN (EUROPE) LIMITED is a leading global company that specializes in innovative GPS technology for a wide range of products and services. The company's sustainability program is centered around reducing their environmental impact and promoting sustainable practices throughout their operations.
Their products range from fitness trackers, smartwatches, and navigation devices to aviation, marine, and automotive equipment. These products are designed to make people's lives easier and more efficient.
The key people behind GARMIN (EUROPE) LIMITED are their dedicated employees who work tirelessly to develop and improve their products and services. This includes their executive team, led by Clive Taylor as the Managing Director, and their team of engineers, designers, and marketers.
In terms of sustainability, GARMIN (EUROPE) LIMITED has implemented several initiatives to reduce their carbon footprint. They have set goals to reduce their energy consumption, increase the use of renewable energy, and decrease waste production. They also prioritize sustainable sourcing and responsible manufacturing practices.
GARMIN (EUROPE) LIMITED is committed to providing high-quality products and services while also being mindful of their impact on the environment. Their website (www.garmin.com) provides more information on their sustainability efforts, as well as their products and services.
The registered office address for GARMIN (EUROPE) LIMITED is located at Liberty House, Hounsdown Business Park, Southampton, Hampshire, SO40 9LR. Customers can also contact the company through their website or by phone at +44 (0)23 8052 4000.
