Only 20% of companies pay on time

Portugal continues to perform poorly in terms of companies complying with payments to suppliers. According to a study by Informa D&B, to which Observador had access, in May 2025 only 20% of companies in Portugal complied with the payment deadlines agreed with suppliers. In other words, only 20 out of every 100 companies in Portugal pay on time, which is to say that 80 out of 100 do not comply.

The conclusion is in the 11th edition of the study on payment behaviors by Informa D&B, which even places Portugal in one of the worst positions internationally, “being increasingly far from the European Union average”.

While only 20% of companies pay within the agreed deadlines, the study indicates that 65.6% pay with a delay of up to one month. 9.1% pay with a delay of between 30 and 90 days and 5.3% are more than 90 days late. And in large companies, only 4% pay on time.

Delayed payment terms are critical in the analysis of commercial risk. Informa D&B highlights that “these delays have a negative impact on creditor companies, limiting their ability to obtain loans and make investments with a view to growth”, in addition to creating “a vicious circle that affects companies that belong to the same chain of customers and suppliers, particularly affecting more vulnerable companies, such as SMEs, where cash flow difficulties can jeopardize their very viability”. The domino effect comes as a consequence. 31% of companies delayed payments to suppliers after having received payment late themselves.

Thus, according to Informa D&B's delinquency risk indicator, there are 43 thousand companies that have a medium-high or high level of registering a payment delay of more than 90 days to at least one of the creditors within a period of one year.

Despite these figures, behaviour has actually improved. The data that Observador had access to shows that while today 20% pay on time, 5 years ago this figure was 15%, with the percentage of companies with delays of more than 90 days having fallen from 7% to 5%.

There was also a decrease in the average number of days late in payments. It is currently at 22.6 days, whereas 5 years ago (in 2020) it was at 26.6 days, that is, four days less.

Large companies are the least compliant

Large companies, i.e. those with more than 249 employees, are the ones that pay the least on time. Only 4% do so, concludes Informa D&B, revealing that 86% end up paying with a delay of up to 30 days, with the rest paying with delays of more than a month (only 1%, however, with a delay of more than 90 days). On the other hand, micro-companies (up to 9 employees) are the ones that comply the most. 24% pay on time, but they are also the ones with the highest percentage of payments with delays of more than 90 days (6%). 19% of small companies meet deadlines and 11% of medium-sized companies do the same.

Informa D&B's analysis shows that non-compliance is common to all sectors of activity. Information and communication technologies (ICT) are the most compliant, with 28% paying within the agreed deadlines. The least compliant sector is transport (11%).

In the average number of days late, there is one piece of data that stands out in this year's study. Retail was the only sector analyzed that increased the number of days of non-compliance to 21 days.

If there is a cross-sectoral nature, there is also a cross-sectoral nature in the regions where companies are headquartered. The Autonomous Region of Madeira has the lowest percentage of compliant regions (16%), with the highest rate in the centre (22%). Greater Lisbon has a compliance rate of 21%, while the North is the second worst (18%). The Alentejo, Algarve and Setúbal Peninsula are in the average, with a compliance rate of 20%, while the West and Tagus Valley and the Azores have a rate of 19%.

Portugal moves away from the European average

In this scenario, and despite the improvement, Portugal continues to fall behind the European average, which has recovered better. The European Payments Directive, transposed in 2013, determines a maximum payment period of 60 days between companies, with agreements being able to be made for longer periods. However, the study assesses non-compliance with the agreed deadlines.

The outlook has not improved significantly since 2013, at least in the case of Portugal. According to data from Informa D&B, “the percentage of companies in the European Union (EU) that meet deadlines rose from 38% in 2013 to 49% by the end of 2024”. During this period, the percentage of compliant companies in Portugal rose from 17% to 19%. “As a result of these developments, the difference between Portugal and the EU was 21 percentage points in 2013, rising to 30 percentage points at the end of last year”. The gap is now wider.

Portugal is thus at the back of the pack. It is among the worst payers, with only Romania having a worse level (12%). Denmark is the most compliant — 94% of companies pay on time in this country. Portugal's main trading partners are more accurate in their payments. 62% of German companies pay on time, 59% of companies in the United States and the United Kingdom comply, 46% of French companies comply, and 44% of Spanish companies pay on time.

State

The study, which will be presented this Friday at the conference 'The Impact of Paying by the Hours', organised by ACEGE (Christian Association of Business Owners and Managers) and Santander, did not look at the reality of the State. However, ACEGE carried out its analysis of the public sector and the outlook is also not positive, despite public statements of intention to reduce debt to suppliers.

According to figures from the association, to which Observador had access, in May 2025 the State had an amount owed to suppliers, with more than 90 days of delay, of 628 million euros . On December 31 of last year it was 289 million. In May of last year the amount was 542 million.

The main and chronic problem is still in EPE hospitals, but at the end of each year, their debts are settled “almost in their entirety”, highlights ACEGE. While the central administration has maintained the amounts owed (without health, it had an amount of 50 million in debt), the local administration continues “on an exemplary path” of decline (to values ​​close to 25 million) and the regional administration “continues on a path of slight but constant increase (to 205 million) since 2021”. For ACEGE, the regional situation is considered “unacceptable, at odds with the path that Portugal should follow”.