Average Period of Payment to Suppliers

2023

The average payment period to suppliers for the Group’s Spanish companies in 2023 was 99 days, the maximum legal payment period established by the Spanish Law 15/2010 of July 5 (amended by final provision two of Law 31/2014 and final provision three of Law 18/2022) establishing measures to combat late payment in commercial transactions, is 30 days, which may be extended by agreement between the parties, but under no circumstances may the period be shortened to more than 60 calendar days. The Group will take the necessary measures to pay within the legally established period. In 2023 the total amount paid within this period has risen to 138,946 thousand euros (19% of the total of payments to suppliers) and 11,457 invoices (32% of total supplier invoices). For further information, see Note 14 on “Trade and other payables” of the 2023 consolidated financial statements.

2022

The average payment period to suppliers for the Group’s Spanish companies in 2022 was 88 days, the maximum legal payment period established by the Spanish Law 15/2010 of July 5 (amended by final provision two of Law 31/2014 and final provision three of Law 18/2022) establishing measures to combat late payment in commercial transactions, is 30 days, which may be extended by agreement between the parties, but under no circumstances may the period be shortened to more than 60 calendar days. The Group will take the necessary measures to pay within the legally established period. In 2022 the total amount paid within this period has risen to 60,804 thousand euros (16% of the total amount of payments to suppliers) and 14,390 invoices (37% of total supplier invoices). For further information, see Note 14 on “Trade and other payables” of the 2022 consolidated financial statements.