Average period of payment to suppliers

The entry into force of the Law 31/2014 of December 3rd establishes the obligation for corporations to publish in the notes of their annual accounts and on its website expressly, their average payment period to suppliers.

Regarding this disclosure, for year-end 2021, the average payment period to suppliers for the company and its group is as follows:

Days                                                                                     2021              2020

Average period of payment to suppliers:                         74                  86

Ratio of transactions settled:                                           78                  88

Ratio of transactions not yet settled:                              47                  74

It should be noted that the difference in days with respect to the regulation is due almost exclusively to the rigorous control exercised by the Company in relation to the legal and financial requirements that must be met by the invoices received. This implies that these are not paid until the all the requirement are met. Otherwise, the Company scrupulously complies with the guidelines set forth in the aforementioned anti-delinquency regulations.