PRINOVA EUROPE LIMITED
Company Information
- Company Number
- 04548728
- Registered Address
- 10 Aldersgate Street, London, England, EC1A 4HJ
- Status
- Active
- Employee Count
- 119.0
- Turnover
- 354492000.0
- EBITDA
- 127000.0
Additional Details
- Website
- https://prinovaeurope.com
- Company Type
- Private limited Company
- Incorporated On
- 30 September 2002
- Nature of Business
- 46750 - Wholesale of chemical products
- Industries
- 0
- Region
- London
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 |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 15 | 97% | 3% | 0% | 73% |
| 01 Jan 2023 - 30 Jun 2023 | 30 Jan 2024 | 19 | 94% | 6% | 0% | 66% |
| 01 Jul 2022 - 31 Dec 2022 | 17 Feb 2023 | 23 | 82% | 18% | 0% | 59% |
| 01 Jan 2022 - 30 Jun 2022 | 11 Aug 2022 | 23 | 81% | 18% | 1% | 51% |
| 01 Jul 2021 - 31 Jul 2021 | 23 Jan 2022 | 25 | 81% | 18% | 1% | 31% |
| 01 Jan 2021 - 30 Jun 2021 | 10 Aug 2021 | 26 | 82% | 18% | 0% | 28% |
| 01 Jul 2020 - 31 Dec 2020 | 31 Mar 2021 | 27 | 73% | 27% | 0% | 20% |
| 01 Jan 2020 - 30 Jun 2020 | 20 Aug 2020 | 31 | 48% | 52% | 0% | 42% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 60 | 35% | 65% | 0% | 42% |
| 01 Jan 2019 - 30 Jun 2019 | 21 Aug 2019 | 32 | 32% | 67% | 1% | 36% |
| 01 Jan 2018 - 30 Jun 2018 | 14 Sept 2018 | 31 | 33% | 65% | 1% | 32% |
Company Summary
PRINOVA EUROPE LIMITED is a global ingredient supplier and distributor, providing a wide range of high-quality ingredients for the food, beverage, and nutrition industries
The company was founded in 1978 and has its registered office in London, United Kingdom
The company's sustainability program focuses on reducing its environmental impact and promoting responsible sourcing
This includes implementing sustainable practices in their operations and working closely with suppliers to ensure ethical and sustainable sourcing of raw materials
PRINOVA EUROPE LIMITED offers a diverse range of products and services, including vitamins, minerals, amino acids, botanical extracts, and specialty ingredients
They also provide customized ingredient solutions to meet specific client needs
Their products are used in a variety of applications, such as sports nutrition, functional foods, and beverages
Key people in PRINOVA EUROPE LIMITED include the Managing Director, Mark Robertson, and the Head of Sales and Marketing, John Richardson
They are supported by a team of experienced professionals who are committed to delivering high-quality products and services to their customers
The company's website, www.prinovaeurope.com, provides detailed information about their products, services, and sustainability efforts
Customers can also contact the company through their website or visit their registered office at 4th Floor, 86-90 Paul Street, London, EC2A 4NE, United Kingdom
In summary, PRINOVA EUROPE LIMITED is a leading ingredient supplier and distributor with a strong commitment to sustainability
Their wide range of high-quality products and customized solutions, along with their experienced team and efficient customer service, make them a trusted partner for businesses in the food, beverage, and nutrition industries
Company Review
Trend Analysis
The data for PRINOVA EUROPE LIMITED shows a consistent decrease in the average time taken to pay invoices over the past three years. There was a significant decrease in 2020, where the average time dropped from 60 days to 31 days. This trend continued in 2021, with the average time decreasing to 26 days. In the most recent period, the average time has decreased even further to 25 days. This indicates that the company is making a concerted effort to pay invoices in a timely manner.
Volatility Analysis
The data for PRINOVA EUROPE LIMITED shows some volatility in the percentage of invoices paid within 30 days and between 31-60 days. In 2018, 33% of invoices were paid within 30 days, but this dropped to 32% in 2019. However, in 2020 and 2021, there was a significant increase in the percentage of invoices paid within 30 days, reaching 73% in 2020 and 82% in 2021. This indicates that the company has made improvements in their payment process. The percentage of invoices paid between 31-60 days has also shown some volatility, but has remained relatively consistent at around 65-67%. There has been a significant decrease in the percentage of invoices paid later than 60 days, dropping from 1% in 2018 to 0% in 2021.
Summary Analysis
In the past three periods, PRINOVA EUROPE LIMITED has seen a significant decrease in the average time taken to pay invoices, from 60 days in 2019 to 25 days in the most recent period. This is a positive trend, indicating that the company is paying invoices in a more timely manner. The percentage of invoices paid within 30 days has also increased from 32% in 2019 to 82% in 2021, showing a significant improvement in the company's payment process. However, the percentage of invoices not paid within agreed terms has remained relatively consistent at around 20%. The shortest payment period has also remained unchanged at 0 days. Overall, the data shows that PRINOVA EUROPE LIMITED has made significant improvements in their payment process, with a focus on paying invoices within 30 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Typical is 30 days but it ranges from 0 to 120 days
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
120
Dispute Resolution Process
We typically don't have disputes or complaints but when we do, we try to enter into dialogue and find middle ground
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?
No information available
