25 Trade accounts payable

The group participates in a supplier finance arrangement with a financial institution to facilitate payments for selected vendors and subsequently pay the institution at a later date. The purpose of this arrangement is to ensure an efficient payment process and to improve the group's working capital. The group has not derecognized the original trade accounts payable related to the arrangement because these trade accounts payable are considered to have a similar nature and function to other trade accounts payable.

Range of payment due dates (days after invoice date)

The payments to the financial institution are included within the cash flow from operating activities because they continue to be part of the normal operating cycle of the group and their nature remains operating, i.e., payments for the purchase of goods and services. The payments to a supplier by the financial institution are considered non-cash transactions.