INEOS CHEMICALS GRANGEMOUTH LIMITED
Company Information
- Company Number
- 06981897
- Registered Address
- Hawkslease, Chapel Lane, Lyndhurst, Hampshire, SO43 7FG
- Status
- Active
- Employee Count
- 593.0
- Turnover
- 366890000.0
- EBITDA
- -47083000.0
Additional Details
- Website
- https://ineos.com
- Company Type
- Private limited Company
- Incorporated On
- 5 August 2009
- Nature of Business
- 20140 - Manufacture of other organic basic chemicals$20160 - Manufacture of plastics in primary forms
- Industries
- Supply Chain,Manufacturing And Commerce Models
- Region
- South East
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 | 49 | 31% | 35% | 34% | 17% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 46 | 36% | 34% | 30% | 20% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 34 | 51% | 34% | 15% | 25% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 48 | 39% | 34% | 27% | 21% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 47 | 36% | 34% | 30% | 22% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 46 | 38% | 34% | 28% | 21% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 43 | 41% | 35% | 24% | 24% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 47 | 40% | 32% | 28% | 26% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 44 | 41% | 31% | 28% | 24% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 45 | 42% | 34% | 24% | 23% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 46 | 37% | 35% | 28% | 21% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 44 | 44% | 34% | 22% | 31% |
Company Summary
INEOS CHEMICALS GRANGEMOUTH LIMITED is a leading chemical company based in Grangemouth, Scotland
The company has a strong focus on sustainability and is committed to reducing its environmental impact through various initiatives
The company's main activities include the production and sale of a wide range of chemicals, including ethylene, propylene, and polyethylene
These chemicals are used in various industries such as packaging, construction, and automotive
INEOS CHEMICALS GRANGEMOUTH LIMITED has a strong sustainability program in place, which includes reducing carbon emissions, implementing energy-efficient practices, and promoting recycling and waste reduction
The company also invests in renewable energy sources, such as wind turbines, to reduce its reliance on fossil fuels
Some key people at INEOS CHEMICALS GRANGEMOUTH LIMITED include CEO John McNally and Sustainability Director Dr
Tom Crotty
The company's registered office address is at Inchinnan Business Park, Renfrewshire, PA4 9LH, United Kingdom
For more information about INEOS CHEMICALS GRANGEMOUTH LIMITED and its products and services, you can visit their website at www.ineos.com or contact them at +44 (0) 141 848 4000
With its strong focus on sustainability and high-quality chemical products, INEOS CHEMICALS GRANGEMOUTH LIMITED continues to be a trusted and reliable partner for its customers
Company Review
Trend Analysis
The trend for INEOS CHEMICALS GRANGEMOUTH LIMITED's average time to pay invoices has been fluctuating, but has generally increased over the past three periods. In the first period (Jan 2018 - Jun 2018), the average time to pay was 44 days, while in the most recent period (Jul 2022 - Dec 2022), it has decreased to 34 days. However, there was a significant increase in the average time to pay in the period of Jan 2023 - Jun 2023, reaching 46 days.
Volatility Analysis
The volatility of INEOS CHEMICALS GRANGEMOUTH LIMITED's average time to pay invoices has been relatively high, with changes ranging from -14 days to +15 days between periods. The highest volatility was seen in the period of Jul 2022 - Dec 2022, where there was a decrease of 13 days compared to the previous period. The lowest volatility was seen in the period of Jul 2021 - Dec 2021, with only a 1-day change.
Summary Analysis
Over the past three periods, INEOS CHEMICALS GRANGEMOUTH LIMITED has shown a slight increase in the average time to pay invoices, from 45 days in Jan 2019 - Jun 2019 to 46 days in Jan 2021 - Jun 2021. However, there was a significant increase in the most recent period, with the average time to pay reaching 49 days in Jul 2023 - Dec 2023.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The Company negotiates and agrees payment terms with its suppliers as one element of its procurement process. As a result, payment terms vary by supplier. The most common payment term in place is 30 days, end of month, although payment terms range from payment on receipt to 64 days, end of month.
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
Supplier invoices and payments are managed by our Accounts Payable team. Disputed invoices will be notified to the supplier by the individual who initiated the purchase transaction to ensure that they are investigated in a timely manner and resolved. Invoiced items that are subject to dispute will not be paid until resolution of the dispute, whereupon payment shall be made either within terms or in the next payment run, following resolution.
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
