WEX EUROPE SERVICES LIMITED
Company Information
- Company Number
- 08284241
- Registered Address
- 7th Floor, Hyphen Building, 75 Mosley Street, Manchester, England, M2 3HR
- Status
- Active
- Employee Count
- 206.0
- Turnover
- 50957000.0
- EBITDA
- 5012000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 7 November 2012
- Nature of Business
- 46719 - Wholesale of other fuels and related products
- Industries
- 0
- Region
- North West
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 | 05 Feb 2024 | 24 | 88% | 9% | 3% | 37% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 39 | 80% | 11% | 9% | 45% |
| 01 Jul 2022 - 31 Dec 2022 | 08 Feb 2023 | 27 | 76% | 21% | 3% | 49% |
| 01 Jan 2022 - 30 Jun 2022 | 15 Aug 2022 | 26 | 83% | 13% | 4% | 46% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 29 | 77% | 20% | 3% | 34% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 25 | 82% | 16% | 2% | 37% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 21 | 87% | 12% | 1% | 35% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 24 | 84% | 15% | 1% | 45% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 21 | 89% | 9% | 1% | 36% |
| 01 Jan 2018 - 30 Jun 2018 | 01 Aug 2018 | 23 | 84% | 14% | 2% | 42% |
Company Summary
WEX EUROPE SERVICES LIMITED is a leading provider of fuel cards and payment solutions for businesses in Europe
The company is committed to sustainability and offers a range of products and services to help reduce the environmental impact of its clients' fleets
Their sustainability program includes initiatives such as carbon offsetting, using alternative fuels, and promoting eco-driving practices
They also offer a fuel card that provides access to a network of over 25,000 electric vehicle charging points across Europe
The company's key people include their CEO, Marc O'Brien, who has over 20 years of experience in the fuel industry, and their CFO, Ian Johnson, who has a background in finance and accounting
To contact WEX EUROPE SERVICES LIMITED, their website address is www.wexeurope.com
Their registered office address is 1 Tony Wilson Place, Manchester, M15 4FN, United Kingdom
In summary, WEX EUROPE SERVICES LIMITED is a leading fuel card provider in Europe with a strong commitment to sustainability
They offer a variety of products and services to help businesses reduce their carbon footprint and promote eco-friendly practices
Their experienced leadership team and easy-to-access website make them a reliable and convenient choice for businesses looking to manage their fuel expenses
Company Review
Trend Analysis
The average time for WEX EUROPE SERVICES LIMITED to pay invoices has been fluctuating over the past three periods. It increased from 23 days in Jan 2018-Jun 2018 to 24 days in Jan 2019-Jun 2019, and then decreased to 21 days in Jul 2019-Dec 2019. It increased again to 25 days in Jan 2020-Jun 2020, before reaching its highest at 29 days in Jan 2021-Jun 2021. It then decreased to 26 days in Jan 2022-Jun 2022 and increased to 27 days in Jul 2022-Dec 2022.
Volatility Analysis
The volatility of WEX EUROPE SERVICES LIMITED's average time to pay invoices has been relatively low, with the highest increase being 4 days from Jul 2022-Dec 2022 to Jan 2023-Jun 2023, and the highest decrease being 3 days from Jan 2021-Jun 2021 to Jul 2021-Dec 2021.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
WEX Europe Services Ltd has payment terms of 30 days, this can vary dependent on supplier.
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
30
Dispute Resolution Process
The accounts payable team are informed of any queries by the authoriser of the invoices and these are in turn queried with the supplier. Once the query has been resolved the supplier will be paid in accordance with its payment term or if the invoice is past due then on the next payment run.
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