Stevanato Group S.p.A. Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Trade Payables and Other Current Liabilities

Trade Payables and Other Current Liabilities

12 Months Ended

Dec. 31, 2021

Trade And Other Current Payables [Abstract]

Trade payables and other current liabilities

34. Trade payables and other current liabilities

Trade payables and other current liabilities are detailed as follows:


	At December 31,		At December 31,
(EUR thousand)	2021		2020
Trade payables		164,787		118,740
Payables to social security institutions		6,362		5,651
Payables to personnel		32,772		25,868
VAT Payables		5,195		583
Other tax payables		3,181		—
Accrued Income and Prepayments		8,222		3,509
Other current liabilities		10,081		8,655
Total trade payables and other current liabilities		230,600		163,006

The book value of trade payables is approximately equal to their fair value. Terms and condition of the above financial liabilities:

Trade payables are non-interest bearing and are normally settled on 60 to 90-day term;

Other payables are non-interest bearing and have an average term of six months.

Other current liabilities include customer returns that reflect the improved estimate on expected liabilities against future expected returns regarding revenues recognized in the current or in previous years, estimated on the basis of past experience.

In 2018 the Group launched the “Confirming program”, a web-based and pay-per-use Supply Chain Finance solution, that allows Group suppliers to anticipate their receivables.
The main benefits for the Group are an improvement of supply chain financial stability and a simplification in payment management cycle.
As of December 31, 2021 the total amount of accounting payables related to the Confirming program equals to EUR 3,900 thousand.