2. We examined the level of overdues of 124 Nordic large cap companies and we were surprised by the magnitude of the late payments The research started with collecting data from annual reports for the 155 largest Nordic companies, listed on the OMX Large cap list or on the Oslo Børs (Market cap > NOK15bn). Thereafter, the prerequisite for collecting data to include in the analysis is that the companies use IFRS reporting standards and that sufficient information is provided for all overdues, from 0.1 days and beyond. Also, the Financials industry was excluded due to these companies’ business model, where payments mainly consist of interest or rental payments. Through this screening we ended up with 124 companies, divided into below industries and stock markets. 7 5 3 12 6 21 7 43 20 Basic Materials Consumer Goods Consumer Services Health Care Industrials Oil & Gas Technology Telecommunications Utilities 27 CPH 53 HEL ICE 25 OSL 18 STO 1 3. On average, more than one fourth of Total Account receivables are paid late! Ratio of total Gross Overdues over Gross receivables, % Consumer Goods Utilities Technology Basic Materials Health Care Oil & Gas Consumer Services Grand Total Industrials Telecommunications 15% Average = 25% 16% 17% 17% 17% 18% 21% 22% 27% 36% Source: 2019 Annual Reports
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