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Global Thechnology, Everlasting Energy

Average payment period to suppliers

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As detailed in section 20.2 of the Annual Accounts the average payment period to suppliers during the fiscal year 2015 has been 61 days.

Although the company has exceeded the payment period to suppliers established in the Law 15/2010, the average payment period to suppliers has decreased significantly in comparison to the fiscal year 2014 as during 2015 the company has implemented several measures essentially focused on the identification of the deviations through the regular monitoring and analysis of the accounts payable to suppliers, of the review and improvement of the internal suppliers management procedures as well as the fulfillment, and if necessary update, of the conditions defined in the commercial operations subject to the applicable regulation, measures whose implermentation will continue during 2016 . Likewise the company is still working on improvements in the internal and external procedure of confirming purchase orders, invoices verification and launching of payment tools with the aim to minimize the incidents and delays in it.

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