Payment Default Risks CEE

1
Payment Default Risk
Bulgaria
Country _at_rating A4
2
Payment default risk in Bulgaria

• Payment habits in Bulgaria
• Payment terms asked by suppliers prepayment to
  60 days
• Average delay of payment 60 to 90 days
• Effective payment period 60 to 150 days
• of transactions paid with delay 70
• Generally, payments are faster when the clients
  are located abroad
• Payments default risk - the most difficult
  sectors
• Agriculture
• FMCG
• pharmaceuticals
• Market share Information Services 62
• Debt Collection Services 49

3
Comparison of the Probality of Recovery vs. Age
of Receivable in Bulgaria
N.B.
4
Payment Default Risk
Croatia
Country _at_rating A4
5
Payment default risk in Croatia

• Payment habits in Croatia
• Payment terms asked by suppliers - 15 to 90 days
• Average delay of payment 30 to 90 days
• Effective payment period 45 to 180 days
• of transactions paid with delay 50-75
• Generally, payments are faster when the clients
  are located abroad
• Payments default risk - the most difficult
  sectors
• Construction
• Textile
• Metal processing
• Market share Information Services 10
• Debt Collection Services 70

6
Comparison of the Probality of Recovery vs. Age
of Receivable in Croatia
N.B.
7
Payment Default Risk
Czech Republic
Country _at_rating A2
8
Payment default risk in the Czech Republic

• Payment habits in the Czech Republic
• Payment terms asked by suppliers - 14 to 90 days
• Average delay of payment 7 to 30 days
• Effective payment period approx 60 days
• of transactions paid with delay 30 - 50
• Generally, payments are faster when the clients
  are located abroad
• Payments default risk - the most difficult
  sectors
• wholesale distribution (fruits and vegetables)
• building/construction industry
• transportation
• Market share Information Services 52
• Debt Collection Services 3

9
Comparison of the Probality of Recovery vs. Age
of Receivable in Czech Republic
N.B.
10
Payment Default Risk
Hungary
Country _at_rating A3
11
Payment default risk in Hungary

• Payment habits in Hungary
• Payment terms asked by suppliers - 30 to 60 days
• Average delay of payment 10 to 45 days
• Effective payment period 50 to 105 days
• of transactions paid with delay 60
• Generally, payments are faster when the clients
  are located abroad
• Payments default risk - the most difficult
  sectors
• Construction and the close connected business
  lines
• Wholesale and retail of non specialised,
  beverages, clothing
• Freight transportation
• Market share Information Services 35
• Debt Collection Services 5-8

12
Comparison of the Probality of Recovery vs. Age
of Receivable in Hungary
N.B.
13
Payment Default Risk
Poland
Country _at_rating A3
14
Payment default risk in Poland

• Payment habits in Poland
• Payment terms asked by suppliers - 21 to 120 days
  (average contractual 27)
• Average delay of payment 14 to 30 days (average
  17 days)
• Effective payment period B2b 47 days, B2c 36
  days, Public buyers 39,5 days
• of transactions paid with delay 30-40
• Generally, payments are faster when the clients
  are located abroad
• Payments default risk - the most difficult
  sectors
• Wholesale
• Construction and building materials
• Production for FMCG
• Market share Information Services 49
• Debt Collection Services 1 (in b2b
  10)

15
Comparison of the Probality of Recovery vs. Age
of Receivable in Poland
N.B.
16
Payment Default Risk
Romania
Country _at_rating A4
17
Payment default risk in Romania

• Payment habits in Romania
• Payment terms asked by suppliers - 15 to 45 days
• Average delay of payment 30 to 60 days
• Effective payment period 30 to 90 days
• of transactions paid with delay 60
• Generally, payments are faster when the clients
  are located abroad
• Payments default risk - the most difficult
  sectors
• construction
• wood and furniture
• transport
• Market share Information Services 31
• Debt Collection Services 14

18
Comparison of the Probality of Recovery vs. Age
of Receivable in Romania
N.B.
19
Payment Default Risk
Slovenia
Country _at_rating A1
20
Payment default risk in Slovenia

• Payment habits in Slovenia
• Payment terms asked by suppliers - 30 to 90 days
  (building 90-120, some cases gt180)
• Average delay of payment 15 to 30 days (private
  person 5-10)
• Effective payment period 30 to 90 days (in some
  sectors more than 180 days)
• of transactions paid with delay 75
• In some sectors companies pay under Cassa Sconto
  rules, if their supplier does not want to accept
  this terms, they wont work with you.
• Payments default risk - the most difficult
  sectors
• construction and building
• Fruit and vegetables companies
• Textile industry
• Market share Information Services 17
• Debt Collection Services 13

21
Comparison of the Probality of Recovery vs. Age
of Receivable in Slovenia
N.B.
22
Payment Default Risk
Slovakia
Country _at_rating A3
23
Payment default risk in Slovakia

• Payment habits in Slovakia
• Payment terms asked by suppliers - 14 to 60 days
• Average delay of payment 60 to 90 days
• Effective payment period 60 to 120 days
• of transactions paid with delay 75
• Generally, payments are faster when the clients
  are located abroad
• Payments default risk - the most difficult
  sectors
• wholesales and retail companies, especially FMCG
• machine industry
• timber industry
• Market share Information Services 40
• Debt Collection Services 15

24
Comparison of the Probality of Recovery vs. Age
of Receivable in Slovakia
N.B.