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15.03.2020
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Poland Payment Survey: Shortened delays but challenging outlook

Poland Payment Survey: Shortened delays but challenging outlook

Despite a further slowdown of GDP growth, 50% of companies expected their profitability to rise in the short-term (10% of companies expected their profitability to remain at the current level) in the survey conducted end 2019. At that time, an improvement in sales was expected in the textileclothing, automotive, and energy sectors. Conversely, the pharmaceuticals, metals, and construction sectors forecasted lower  sales in the coming months. According to the survey, 10 out of the 12 sectors anticipate that the amount of outstanding receivables were likely to decrease in the following months. Since the textile-clothing and automotive sectors are among the ones that are expected to suff er most from the COVID19 spillover effects at a global level, with signifi cant value chains disruptions as a lot of plants closed in China, epicenter of the global outbreak. Thus, the aforementioned positive perspective anticipated by companies in the survey at the end of last year could be somewhat less important if they had responded to the survey nowadays, in a context of global sanitary crisis. According to our analysis, sales on credit are made extensively, with all surveyed companies having written terms and conditions for this purpose. 98% of businesses continue to face payment delays. During 2019, outstanding receivables decreased but only slightly. Our study shows that Polish companies experience average payment delays of 57.2 days, i.e. nearly 3 days less than in our previous survey in 2018 (in our latest Germany Payment Survey1 average payment delays reached 35.5 days and in our latest Turkey Payment Survey2 they equaled 40.7 days for domestic sales and 58.1 days for export sales). The agri-food sector fares the best, with payment delays of “just” 36 days. The biggest improvement in shortening delays was reported by the transport sector (18 days shorter than in 2018). Despite that, transport and construction companies again experienced the longest payment delays, at nearly 122 and 104 days respectively. The highest increase in the payment delay period was recorded by the metals sector (an increase from 53 to 66 days)  

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