GLENCORE ENERGY UK LTD
Company Information
- Company Number
- 04542769
- Registered Address
- 18 Hanover Square, London, England, W1S 1JY
- Status
- Active
- Employee Count
- 492.0
- Turnover
- 60921000000.0
- EBITDA
- 169000000.0
Additional Details
- Website
- https://glencore.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 23 September 2002
- Nature of Business
- 66120 - Security and commodity contracts dealing activities
- Industries
- 0
- Region
- London
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 | 01 Feb 2024 | 9 | 96% | 3% | 1% | 0% |
| 01 Jan 2023 - 30 Jun 2023 | 26 Jul 2023 | 9 | 96% | 3% | 1% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 9 | 96% | 3% | 1% | 0% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 9 | 95% | 3% | 2% | 0% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 10 | 95% | 4% | 1% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 10 | 92% | 4% | 4% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 30 Jan 2021 | 11 | 92% | 4% | 4% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 9 | 93% | 4% | 3% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 8 | 94% | 4% | 2% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 8 | 94% | 4% | 2% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 7 | 95% | 3% | 2% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 7 | 95% | 3% | 2% | 0% |
Company Summary
Glencore Energy UK Ltd
is a leading global energy and commodity trading company, headquartered in London, UK
It is a subsidiary of Glencore plc, a multinational corporation with operations in over 50 countries
The company's main activities include sourcing, supplying, and trading a wide range of energy products such as crude oil, refined petroleum products, natural gas, and coal
It also provides risk management and logistics services to its clients
Glencore Energy UK Ltd
is committed to promoting sustainability and has a strong sustainability program in place
It aims to minimize its environmental impact, promote responsible business practices, and contribute to the communities in which it operates
The company has set ambitious targets for reducing its greenhouse gas emissions and increasing its use of renewable energy sources
The company's key people include its CEO, Alex Beard, who has over 25 years of experience in the energy and commodities industry
He is supported by a team of experienced professionals who are experts in their respective fields
Glencore Energy UK Ltd
has a strong online presence and its official website is www.glencore.com
The registered office address is 50 Berkeley Street, London W1J 8HD, United Kingdom
The company can be contacted via phone at +44 (0) 20 7412 2000 or through email at info@glencore.com
In summary, Glencore Energy UK Ltd
is a leading energy and commodity trading company with a strong commitment to sustainability
Its wide range of products and services, along with its team of experienced professionals, make it a trusted and reliable partner in the global energy market
With its focus on responsible business practices, the company is well-positioned to continue its success in the future
Company Review
Trend Analysis
The data for Glencore Energy UK Ltd. shows a consistent average time to pay of 7-11 days from 2018 to 2023. However, there is a slight increase in the average time to pay in the most recent period (2021-2023). Additionally, there is a trend of increasing percentages of invoices paid within 30 days and between 31-60 days, while the percentage of invoices paid later than 60 days has decreased over time. This suggests that the company has been improving their payment process and paying invoices more promptly.
Volatility Analysis
The data for Glencore Energy UK Ltd. shows relatively low volatility in terms of the average time to pay, with only a 2-day difference between the lowest and highest periods. However, there is some volatility in the percentages of invoices paid within different time frames, with the highest volatility in the percentage of invoices paid later than 60 days, ranging from 1-5% over the years.
Summary Analysis
From 2018 to 2023, Glencore Energy UK Ltd. has maintained a consistent average time to pay of 7-11 days. The company has also shown improvement in paying invoices within agreed terms, with an increase in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid later than 60 days. However, in the most recent period (2021-2023), there was a slight increase in the average time to pay and a shift towards paying a higher percentage of invoices later than 60 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Consistent with normal industry practices: Crude Contracts – 30 days Products Contracts – 5 to 30 days NatGas Contracts – 20th of month following delivery settlement Freight Contracts – prompt or 2 days after completion of discharge Overheads – variety prompt upon receipt to 30 days Payment terms are agreed with suppliers as part of contract negotiations. The most commonly used terms are 30 days, but payment terms vary by commodity traded and geographical location and could be longer or shorter as mutually agreed. Once authorised, trade invoices are paid when contractually due through regular payment runs.
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
The process for resolution of disputes involves discussion with our commercial & legal teams to review facts and circumstances and recommend resolutions.
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