Average payment period to suppliers

In accordance with the terms of the resolution of the Institute of Accounting and Account Auditing (ICAC) dated 29 January 2016, about the information that should be included in the Annual Accounts regarding the average payment period to suppliers. 

In the Note 21 of the Consolidate Statements the Company informs that the average payment period to suppliers in Melia Hotels International S.A. and its Spanish subsidiaries was the end of 2015 of 88,07 days.

Going forward the Company is reviewing the administrative processes carried out from the invoices reception to the payments issuance in order to minimize the average payment period.

Provided below is the information required under supplementary disposition 3 of the Law 15/2010 dated 5 July. The following table shows this breakdown in respect of Meliá Hotels International, S.A. and their Spanish affiliates:

YEAR 2015 TOTAL DAYS
AVARAGE PAYMENT TO SUPPLIERS 88,07
TRANSACTIONS PAYMENTS RATIO 79,10
OUTSTANDING TRANSACTIONS RATIO  132,19

 

IMPORT EUROS
TOTAL OUTSTANDING PAYMENTS  368.627.631,08
TOTAL PAYMENTS MADE  74.864.533,09

In accordance with the terms of the resolution of the Institute of Accounting and Account Auditing (ICAC) dated 29 January 2016, the comparative information for fiscal year 2014 with regard to the postponement of payments to suppliers in commercial transactions is not presented, these annual accounts are therefore classified as initial annual accounts exclusively for these purposes.