SIEMENS ENERGY INDUSTRIAL TURBOMACHINERY LIMITED
Company number: 04729734
Reporting period:
1 October 2025 to 31 March 2026
Report filed on:
1 May 2026
Approved by:
Ross Dean
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 67 days
Total value paid:
- within 30 days: £3,965,538 (4%)
- in 31 to 60 days: £42,294,516 (39%)
- in 61 days or more: £62,985,337 (58%)
Invoices paid:
- within 30 days: 4%
- in 31 to 60 days: 39%
- in 61 days or more: 57%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £5,267,964
- payments due in the reporting period which have not been paid within the agreed period: 25%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
26 days
Longest standard payment period
180 days
Standard payment terms
The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage :
Intercompany Clearing payment terms and are paid immediately in the month following the receipt of the invoice. Please note Intercompany clearing terms are available to Siemens Energy companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens Energy cash pool.
3rd party payments terms usage is as follows <30 days 49% 60 days 36%, 90 days 1%, 30 days 3%, 34 days 7%, 75 days 2% and the remainder with payment terms of less than 2% occurrences which includes the max payment term of days.
The payment statistics excluding the ICC transactions are as follows :- Average time it took to pay an invoice days. Split of payments 0-30 day 4%, 31-60 days 39%, 61+days 58% Invoices paid late 25%.
Were there any changes to the standard payment terms in the reporting period?
90 Days is the standard term used for projects with a long term and is agreed on a case by case basis. Includes foreign suppliers with payments in Letters of Credits etc.
Were suppliers notified or consulted about these changes before they were made?
communication with suppliers
Maximum contractual payment period agreed
180 days
90 Days is the standard term used for projects with a long term and is agreed on a case by case basis. Includes foreign suppliers with payments in Letters of Credits etc.
Any other information about payment terms
No further comment provided
Dispute resolution process
1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. A) Tel: 01522584650 b) E-mail lcnw.purchaseledger.pg@siemens.com
2) AP liaise with supplier to obtain and process missing invoices
a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to supplier)
3) AP liaise with suppliers to confirm payment details (past and upcoming)
4) AP liaise with approvers to release overdue invoices for payment
5) Special team deals with ‘final demand’ cases and legal notices
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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.
Yes
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No