MAGNESIUM ELEKTRON LIMITED
Company Information
- Company Number
- 03141950
- Registered Address
- Lumns Lane, Manchester, England, M27 8LN
- Status
- Active
- Employee Count
- 292.0
- Turnover
- 99162000.0
- EBITDA
- 18168000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 28 December 1995
- Nature of Business
- 20130 - Manufacture of other inorganic basic chemicals$24450 - Other non-ferrous metal production
- Industries
- 0
- Region
- North 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 |
|---|---|---|---|---|---|---|
| 03 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 51 | 47% | 34% | 19% | 39% |
| 01 Jan 2023 - 02 Jul 2023 | 25 Jul 2023 | 50 | 43% | 36% | 21% | 36% |
| 27 Jun 2022 - 31 Dec 2022 | 31 Jan 2023 | 58 | 38% | 42% | 20% | 45% |
| 01 Jan 2022 - 26 Jun 2022 | 27 Jul 2022 | 52 | 25% | 51% | 24% | 58% |
| 28 Jun 2021 - 31 Dec 2021 | 31 Jan 2022 | 52 | 26% | 50% | 24% | 57% |
| 01 Jan 2021 - 27 Jun 2021 | 30 Jul 2021 | 56 | 20% | 54% | 26% | 53% |
| 29 Jun 2020 - 31 Dec 2020 | 28 Jan 2021 | 69 | 19% | 57% | 24% | 55% |
| 01 Jan 2020 - 28 Jun 2020 | 29 Jul 2020 | 54 | 17% | 64% | 19% | 65% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 64 | 17% | 59% | 24% | 60% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 55 | 21% | 51% | 27% | 61% |
| 02 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 49 | 27% | 55% | 18% | 23% |
| 01 Jan 2018 - 01 Jul 2018 | 19 Jul 2018 | 37 | 9% | 77% | 14% | 1% |
Company Summary
MAGNESIUM ELEKTRON LIMITED is a leading international company that specializes in the production and supply of magnesium alloys and products
They are committed to sustainability and have implemented a number of initiatives to reduce their environmental impact
Their sustainability program includes investing in renewable energy, reducing waste and emissions, and promoting responsible sourcing and recycling
They also have a strong focus on employee health and safety, and have received various awards for their efforts in this area
The company's main products include magnesium alloys, which are used in a wide range of industries such as aerospace, automotive, and electronics
They also offer a variety of magnesium-based products, including powders, extrusions, and castings
MAGNESIUM ELEKTRON LIMITED has a team of experienced and knowledgeable professionals leading the company
This includes their CEO, Mark Noakes, and their Chairman, Joe O'Neill
The company has a global presence, with offices and manufacturing facilities in the UK, Germany, and the US
For more information on their products and services, as well as their sustainability efforts, you can visit their website at www.magnesium-elektron.com
Their registered office address is located in Swinton, Manchester, UK
In conclusion, MAGNESIUM ELEKTRON LIMITED is a reputable company that is dedicated to sustainability and providing high-quality magnesium products to various industries
With a strong leadership team and a global presence, they continue to be a leader in the magnesium industry
Company Review
Trend Analysis
The trend for MAGNESIUM ELEKTRON LIMITED's average time to pay invoices has fluctuated between 37 and 69 days over the past three periods. There was a significant increase from 2018-07-02 to 2019-01-01, followed by a gradual decrease until 2021-06-28. The trend appears to be stable in recent periods, with little change from 2021-06-28 to 2023-07-03.
Volatility Analysis
The volatility of MAGNESIUM ELEKTRON LIMITED's average time to pay invoices has been relatively high, ranging from 37 to 69 days over the past three periods. However, there was a decrease in volatility from 2021-06-28 to 2023-07-03, with the average time to pay remaining around 50 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Majority of our suppliers are now on 60 days end of month, we are in the process to extending this to 120 days however this is work in progress
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
150
Dispute Resolution Process
Accounts Payable Specialist reaches out to supplier upon delayed receipt of the vendor invoice. It is typical that there is a delay in receiving the invoices, which allows for extended due dates. Purchasing department will also discuss any issues directly with the vendors regarding errors within the order upon receipt of the incorrect goods or upon receipt of the erroneous invoice.
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
