The trend for Plastic Omnium Automotive Limited shows that the average time taken to pay invoices has been consistently decreasing over the past three periods, from 66 days in the first period to 59 days in the fourth period. This indicates that the company is becoming more efficient in paying their invoices on time.
The volatility for Plastic Omnium Automotive Limited is relatively low, with only a 7-day difference in their shortest standard payment period for all four periods. This suggests that the company has a consistent payment process in place.
From 2018 to 2019, Plastic Omnium Automotive Limited has shown an improvement in their payment process, with the average time taken to pay invoices decreasing by 7 days. The percentage of invoices paid within 30 days has also increased by 5%, while the percentage of invoices paid between 31 and 60 days has decreased by 5%. However, there has been a slight increase in the percentage of invoices paid later than 60 days by 2%. The company has consistently maintained a 7-day shortest standard payment period.
| 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 Jan 2024 - 30 Jun 2024 | 27 Sept 2024 | 58 | 15% | 67% | 18% | 55% |
| 01 Jul 2019 - 31 Dec 2019 | 13 Mar 2020 | 59 | 13% | 65% | 22% | 22% |
| 01 Jan 2019 - 30 Jun 2019 | 17 Oct 2019 | 58 | 14% | 66% | 20% | 24% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 61 | 13% | 65% | 22% | 26% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 66 | 9% | 60% | 31% | 33% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard terms are 60 days from date of invoice matching those of the sector in which we operate.
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
115
Disputes/complaints are to be firstly addressed to the respective buyer. Matters would be escalated where appropriate.
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
Plastic Omnium Automotive Limited is a UK manufacturing company based in Measham, Derbyshire, registered under company number 03275572 since 1996. Its stated business activity is the manufacture of other plastic products, specifically automotive plastic and rubber components, including motor vehicle spare parts. The company forms part of the wider Plastic Omnium group, with its majority shareholding held by Plastic Omnium Auto Exteriors SA, a French parent entity. It operates as the UK manufacturing arm within this international automotive components group, producing plastic parts that are supplied into vehicle manufacturing supply chains rather than selling directly to end consumers. The company remains active and employs several hundred staff at its Derbyshire site.
Generated from the company's website and Companies House records. Sources: uk.globaldatabase.com