VESTASCELTIC WIND TECHNOLOGY LTD
Company Information
- Company Number
- SC216807
- Registered Address
- Exchange Tower, 19 Canning Street, Edinburgh, Midlothian, EH3 8EH
- Status
- Active
- Employee Count
- 270.0
- Turnover
- 156647000.0
- EBITDA
- 3757000.0
Additional Details
- Website
- https://vestas.com
- Company Type
- Private limited Company
- Incorporated On
- 13 March 2001
- Nature of Business
- 25110 - Manufacture of metal structures and parts of structures$27110 - Manufacture of electric motors, generators and transformers
- Industries
- 0
- Region
- East of Scotland
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 | 30 Jan 2024 | 42 | 44% | 20% | 36% | 18% |
| 01 Jan 2023 - 30 Jun 2023 | 26 Jan 2024 | 46 | 48% | 20% | 32% | 49% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 37 | 53% | 22% | 25% | 28% |
| 01 Jan 2022 - 30 Jun 2022 | 04 Aug 2022 | 41 | 50% | 20% | 30% | 34% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 32 | 58% | 22% | 20% | 31% |
| 01 Jan 2021 - 30 Jun 2021 | 08 Jul 2021 | 32 | 57% | 23% | 20% | 25% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 40 | 47% | 25% | 28% | 40% |
| 01 Jan 2020 - 30 Jun 2020 | 16 Jul 2020 | 36 | 42% | 43% | 15% | 42% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 45 | 44% | 26% | 30% | 40% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 48 | 12% | 25% | 63% | 40% |
| 01 Jul 2018 - 31 Dec 2018 | 15 Feb 2019 | 43 | 43% | 28% | 29% | 42% |
| 01 Jan 2018 - 30 Jun 2018 | 21 Sept 2018 | 45 | 51% | 26% | 23% | 31% |
Company Summary
VESTAS-CELTIC WIND TECHNOLOGY LTD
is a leading international company in the renewable energy sector, specializing in the development, production, and maintenance of wind turbines
The company was founded in 1979 and has its registered office in Aarhus, Denmark
Sustainability is at the core of VESTAS-CELTIC's business model, as they aim to help reduce the world's carbon footprint by providing clean and efficient energy solutions
The company has a strong commitment to sustainability and has implemented various initiatives to reduce their environmental impact
This includes using sustainable materials in their products, implementing energy-efficient practices in their operations, and promoting recycling and waste reduction
VESTAS-CELTIC offers a wide range of products and services, including onshore and offshore wind turbines, as well as maintenance and service contracts
They also provide customized solutions for different types of wind conditions and terrain
The company's key people include Henrik Andersen, the Group President and CEO, who has extensive experience in the renewable energy industry, and Marika Fredriksson, the Executive Vice President of Global People and Culture, who leads the company's sustainability efforts
Customers can contact VESTAS-CELTIC through their website, which provides detailed information about their products and services, as well as news and updates on the company's sustainability program
The website also includes contact information for their global offices and service centers
In summary, VESTAS-CELTIC WIND TECHNOLOGY LTD
is a leading renewable energy company with a strong commitment to sustainability
They offer a range of products and services to help reduce the world's carbon footprint and have a dedicated team of professionals leading their sustainability efforts
Customers can easily access information and contact the company through their website
Company Review
Trend Analysis
The average time for VESTAS-CELTIC WIND TECHNOLOGY LTD. to pay invoices has been fluctuating over the past three years, with a slight decrease in 2020 and a significant increase in 2021. However, there has been a slight decrease in the most recent period of 2023.
Volatility Analysis
The volatility of the average time to pay has been high, with a range of 10 days between the lowest and highest time periods. The volatility of the percentage of invoices paid within 30 days has also been high, with a range of 15% between the lowest and highest periods.
Summary Analysis
In the past three years, VESTAS-CELTIC WIND TECHNOLOGY LTD. has seen a fluctuation in their average time to pay invoices, with a slight decrease in 2020 and a significant increase in 2021 before a slight decrease in 2023. The percentage of invoices paid within 30 days has also fluctuated, with a decrease in 2020 and 2021 before an increase in 2022 and 2023. The company has consistently paid the majority of their invoices within 60 days, with a slight increase in 2021 and 2023. However, the percentage of invoices not paid within agreed terms has also been consistently high, with the highest period being in 2021 where 63% of invoices were paid later than 60 days. The shortest standard payment period for the company has remained at 5 days throughout the three-year period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
End of Month plus 60 days plus 5 is our target payment terms. For smaller suppliers with spend below €50k it is 30 days End of month plus 5 days.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
The business standard payment terms are end of month plus 60 days plus 5 - variations are agreed for individual circumstances.
Maximum contractual payment period agreed
125
Dispute Resolution Process
Invoices that cannot be validated are queried out to the business using an integrated workflow solution which is constantly monitored to ensure responses are received in the required timescales. Vendors can contact the Shared Service Centre Help desk with any queries via email or phone Monday to Friday. A ticketing solution is used to monitor queries where the answer is not provided instantly. Invoices to NEUVWSinvoices@vestas.com, Payment and any other queries to financesscsap@vestas.com Statements to financesscsoa@vestas.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.
❌
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
