SABIC UK PETROCHEMICALS LIMITED
Company Details
Registration Number
03767075
Registered Address
The Wilton Centre Wilton Redcar Cleveland TS10 4RF
Company Status
Active
Employee Count
383
Turnover
£280,100,000
EBITDA
£84,900,000
Additional Information
Website
sabic-europe.comCompany Type
Private limited Company
Incorporated on
5 May 1999
Nature of Business (SIC)
20140 - Manufacture of other organic basic chemicals
Industries
0
Region
North EastCompany Location
Financial Overview
£0
£560,600,000
Last Reporting Period
Filed
31 Jan 2024
Period
01 Jun 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
34 days
Payment Periods
Shortest
30 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
1%
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 Jun 2023 - 31 Dec 2023 | 31 Jan 2024 | 34 | 50% | 43% | 7% | 1% |
| 01 Jan 2023 - 30 Jun 2023 | 18 Jul 2023 | 32 | 50% | 39% | 11% | 9% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 32 | 55% | 35% | 10% | 10% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 32 | 55% | 36% | 9% | 15% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 33 | 54% | 33% | 13% | 13% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Jul 2021 | 30 | 60% | 35% | 5% | 12% |
| 01 Jul 2020 - 31 Dec 2020 | 30 Jan 2021 | 32 | 53% | 38% | 9% | 15% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 30 | 58% | 35% | 7% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jan 2020 | 31 | 54% | 39% | 7% | 19% |
| 01 Jan 2019 - 30 Jun 2019 | 01 Nov 2019 | 35 | 47% | 41% | 12% | 16% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 34 | 51% | 39% | 10% | 18% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 37 | 38% | 50% | 12% | 53% |
Company Summary
SABIC UK PETROCHEMICALS LIMITED is a leading petrochemical company in the UK, operating as a subsidiary of Saudi Basic Industries Corporation (SABIC)
The company is committed to sustainable practices and has a strong focus on environmental, social, and economic responsibility
The company's sustainability program includes initiatives such as reducing greenhouse gas emissions, promoting energy efficiency, and using renewable energy sources
SABIC UK also actively supports and invests in community projects and has implemented various measures to ensure the health and safety of its employees
The company's products and services include a wide range of petrochemicals, polymers, and performance materials that are used in various industries such as automotive, construction, and healthcare
SABIC UK is known for its innovative solutions and has a strong track record of delivering high-quality products to its customers
The key people at SABIC UK include the managing director, Richard Lowth, and the head of sustainability, Paul Edwards, who are dedicated to driving the company's sustainable growth
The company has a team of experienced professionals who are committed to delivering excellence in all aspects of their work
For more information about SABIC UK PETROCHEMICALS LIMITED, their products and services, and their sustainability initiatives, you can visit their website at www.sabic.com/uk and their registered office address is at 5th Floor, 6 St
Andrew Street, London, EC4A 3AE
Company Review
Trend Analysis
The average time taken for SABIC UK PETROCHEMICALS LIMITED to pay invoices has decreased from 37 days in the first period to 34 days in the second period, and has remained relatively stable since then, ranging from 30 to 35 days. This suggests that the company has been making efforts to pay invoices more promptly.
Volatility Analysis
The percentage of invoices paid within 30 days has fluctuated between 47% and 60%, with the highest percentage being in the most recent period. The percentage of invoices paid between 31 and 60 days has also fluctuated, ranging from 33% to 50%. However, the percentage of invoices paid later than 60 days has consistently remained between 5% and 13% in the last four periods, indicating that the company has been able to maintain timely payments for the majority of their invoices.
Summary Analysis
Looking at the past three periods, the average time taken for SABIC UK PETROCHEMICALS LIMITED to pay invoices has decreased by 5 days, from 37 days to 32 days. This is a significant improvement and shows that the company has been actively working towards faster invoice payments.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
60 days from date of invoice
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
60
Dispute Resolution Process
A complaint or concern will be handled by the relevant buyer in the Procurement team within 7 days
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?
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