CONVATEC GROUP PLC
Company Information
- Company Number
- 10361298
- Registered Address
- 7th Floor 20 Eastbourne Terrace, London, United Kingdom, W2 6LG
- Status
- Active
- Employee Count
- 10,410
- Turnover
- £1,828,288,000
- EBITDA
- £422,490,000
Additional Details
- Company Type
- Public limited Company
- Incorporated On
- 6 September 2016
- Nature of Business
- 96090 - Other service activities not elsewhere classified
- Industries
- Healthcare And Wellbeing, Life Sciences And Medical Technology
- Region
- UnknownNot specified in payment practices report
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
CONVATEC GROUP PLC generally processes payments within an average of 27 days, with 74% of invoices settled within 30 days, indicating a relatively swift payment speed for the majority. However, a significant trend is that 62% of all payments are categorized as late, suggesting a consistent inability to meet contractual payment deadlines despite the quicker average. This trajectory implies that while payment often occurs within a month, adherence to specified terms is frequently missed.
Volatility Analysis
The payment profile exhibits moderate volatility, with 22% of invoices extending to 31-60 days and a notable 4% exceeding 60 days, indicating potential for unpredictable longer delays. The high percentage of late payments (62%) signifies a lack of reliability in consistently meeting agreed-upon terms, introducing uncertainty into cash flow forecasting for suppliers. This creates a risk of frequent, though not always extreme, deviations from expected payment dates, impacting financial planning.
Summary Analysis
Suppliers can generally expect payment within 30 days for most invoices; however, the high incidence of late payments (62%) requires careful consideration of cash flow implications. Key decision factors include the supplier's capacity to absorb frequent, albeit sometimes minor, delays beyond contractual terms. To mitigate risk, suppliers should consider requesting shorter payment terms, implementing upfront deposits for substantial orders, or closely monitoring payment patterns for individual transactions.
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 2024 - 31 Dec 2024 | 28 Jan 2025 | 27 | 74% | 22% | 4% | 62% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 27 | 78% | 18% | 4% | 55% |
Payment Time Trends
Payment Distribution Trends
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’s standard terms are 60 days, unless agreed otherwise. The Company makes payment via BACS, twice weekly of all cleared invoices due for payment that working week.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
75
Dispute Resolution Process
Queries and follow-ups should be sent to AccountsPayable@convatec.com. If you fail to receive an adequate response, please contact the individual who engaged for the goods or services. For further details see http://supplierlink.convatec.com/
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
Company Summary
CONVATEC GROUP PLC is an active Public limited Company. As a Public limited Company, it is structured to enable the offering of its shares to the general public. The 'Group' designation signifies that it operates as a parent or holding company for a portfolio of businesses.
The company is registered in the United Kingdom under company number 10361298. It was incorporated on 6 September 2016 and maintains an active status. Its registered office is located at 7th Floor 20 Eastbourne Terrace, London, United Kingdom, W2 6LG.
Public limited companies, especially those designated as a 'Group', typically engage in activities such as strategic oversight, capital allocation, and governance for their subsidiary organisations. This structure enables them to raise significant capital through public share offerings, which can fund expansion, mergers, and acquisitions within the UK market.
