Coface’s Germany Corporate Payment Survey 2022: Battered companies prepare for another crisis

While the difficult economic situation took its toll, the 6^th edition of Coface’s survey on corporate payment experience in Germany[1]indicates that the impact on corporate payments in 2022 appears to be moderate and comparatively lower than the shock on the economy. However, companies are vigilant in the short-term and very pessimistic about the future.

• The number & duration of payment delays has increased, but only slightly and from a very low initial level. This means the payment discipline deteriorated (+6 pp of surveyed companies reporting payment delays in 2022), but it remains below the level observed in 2020 and far below pre-pandemic levels.
• The average duration of payment delays increased to 28.7 days in 2022 (+1 day), after shortening by 7 days in 2021.
• Companies in the paper-packing sector experienced the shortest waiting time this year (average of 18.4 days), while companies in the finance sector had to be the most patient (average delay of 35.0 days).
• The main twist comes however from the economic outlook anticipated by companies. Never in the history of this survey, were companies so negative about their future.