AVERAGE PAYMENT PERIOD TO SUPPLIERS

The Telefónica Group’s Spanish companies have adapted their internal processes and payment schedules to the provisions of Law 15/2010 (amended by Law 31/2014) and Royal Decree- Law 4/2013, amending Law 3/2004, which establishes measures against late payment in commercial transactions. Engagement conditions with commercial suppliers in 2016 included payment periods of up to 60 days, according to the terms agreed between the parties.

According to our best estimates, the average payment period to suppliers of the Telefónica Group’s companies in Spain in 2016, amounted to 45 days.