Payment behavior of companies slightly improved
Published: Thursday, Aug 29th 2024, 09:30
Updated At: Friday, Aug 30th 2024, 01:59
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Swiss companies paid their invoices faster in the first half of 2024. Companies in the automotive and hospitality sectors continued to have the worst payment behavior.
The proportion of invoices paid late by companies fell by just under one percentage point to 17.9% in the first half of 2024 compared to the same period of the previous year, according to the business information service Dun & Bradstreet on Thursday.
The trend towards an improvement over the past five years is thus continuing, as the proportion of late payments in the coronavirus years 2020 and 2021 was still around 20% or more, and in 2019 it was even over 23%. The average delay in payments from companies to companies was a good 15 days, which represents an improvement of one day compared to the previous year.
Automotive sector and hospitality industry behind schedule
Across all sectors, the automotive industry, the printing and publishing industry and the hospitality industry have the worst payment practices, with around a third of payments being late in each case. The most conscientious payers are financial and insurance companies as well as the trades sector.
From a cantonal perspective, companies in the canton of Zug are taking the longest, followed by Ticino. Behind this, Dun & Bradstreet identifies a "Röstigraben". The next five cantons with poor payment practices are Neuchâtel, Vaud, Geneva, Valais and Fribourg. Obwalden, Appenzell Innerhoden and Uri fare best in this ranking, with payment delays of less than 10 percent.
©Keystone/SDA
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