The entry into force of Law 31/2014 of December 3, which amends the Capital Companies Law for the improvement of corporate governance, establishes the obligation for mercantile companies to publish on the website the average period of payment to their suppliers. For more detailed information, you can consult the annual accounts of Talgo, S.A., both individual and consolidated, available here.

In 2019, the average payment period for suppliers was 19 and 52 days for Talgo S.A. individual and consolidated, respectively.

"Average Period of Payment to suppliers" means the period that elapses from the delivery of the goods or provision of services borne by the supplier and payment of the transaction.

The Spanish companies of the Group subject to this regulation have stipulated their payments on the 10th of the month, situation from which, the average period of payment can be increased due to the offset between the expiration of the invoice and the day fixed for the payment.