Publications

Despite the ongoing upturn, automotive suppliers at the lower end of the value chain face elevated debt levels, strong competition and price pressure.

The sector shows good growth rates, but manufacturers active in the US are affected by the import tariffs on steel and aluminium imposed since June 2017.

Smaller automotive businesses experienced a decrease in equity, solvency and liquidity ratios - a trend that is expected continue in the coming months.

The impact of potential US tariffs on car and car-part producers would be limited, as the US is not a key market for Spanish OEMs due to their model range.

While sales in the Mexican automotive market remained subdued in the first half of 2018 car exports have increased 10%, helped by new production plants.

Due to the high export dependence any imposition of import tariffs by the US would have an adverse impact on the sector, especially for Tier 1 businesses.

Payment duration in the Slovakian automotive sector ranges from 45 to 90 days, and the payment experience has been good over the past two years.

Profit margins are rather high in the sector, with most businesses financially resilient enough to cope with minor volatility in demand or commodity prices.

The global economy is in an upswing based on broad-based economic growth and still-low interest rates, but we are reaching a turning point.

Chemicals businesses dependent on raw materials imports are highly exposed to exchange rate volatility and the looming threat of trade restrictions.

Good short-term outlook for the chemicals sector, but Brexit poses a downside risk for businesses profitability and payment behaviour in the mid-term.

Indonesian pharmaceuticals sector growth is driven by a rising population and the roll-out of the government's universal healthcare insurance system.

Further growth expected, but businesses dependent on construction, construction materials and consumer durables still require particular attention.

Potential taxes on chemicals-related imports could find US chemicals businesses paying more for feedstocks and would negatively impact supply chains.

Sales growth in the pharmaceuticals and healthcare market is supported by a robust economic outlook and increasing private and public healthcare spending.

Payment delays have not increased in 2017, despite many businesses suffering from decreased liquidity due to higher import prices for commodities.

Payment behaviour in the Polish chemicals sector has been good over the past two years, and the number of non-payments and insolvencies has been low.

Payment delays and insolvencies are expected to increase in the chemicals sector due to lower sales and the lira depreciation since the end of 2017.

Despite concerns about energy security, the gas trade between Europe and Russia is working for the benefit of both

The percentage of overdue B2B invoices increased in 2018 impacting 64.1% of survey respondents in countries surveyed in the Americas.