Subsea Leasing Limited

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subsea leasing limited Company Information

Live

MatureLargeHigh

Company Number

02310248

Website

http://stenadrilling.co.uk

Registered Address

6 arlington street, london, SW1A 1RE

Industry

Support activities for petroleum and natural gas extraction

Telephone

01224401180

Next Accounts Due

September 2025

Group Structure

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Directors

Peter Claesson16 Years

Erik Ronsberg8 Years

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Shareholders

stena drilling ltd 100%

subsea leasing limited Estimated Valuation

£340.2m

Pomanda estimates the enterprise value of SUBSEA LEASING LIMITED at £340.2m based on an EBITDA of £44.6m and a 7.62x industry multiple (adjusted for size and gross margin).

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Subsea Leasing Limited is a live company located in london, SW1A 1RE with a Companies House number of 02310248. It operates in the support activities for petroleum and natural gas mining sector, SIC Code 09100. Founded in October 1988, it's largest shareholder is stena drilling ltd with a 100% stake. Subsea Leasing Limited is a mature, large sized company, Pomanda has estimated its turnover at £51.4m with high growth in recent years.

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Pomanda's financial health check has awarded Subsea Leasing Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 0 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

7 Strong

1 Regular

0 Weak

Size

annual sales of £51.4m, make it larger than the average company (£18.2m)

Growth

3 year (CAGR) sales growth of 20%, show it is growing at a faster rate (3%)

EXPORT

Subsea Leasing Limited's latest turnover from December 2023 is £51.4 million and the company has net assets of £69.2 million. According to their latest financial statements, we estimate that Subsea Leasing Limited has 240 employees and maintains cash reserves of £23.3 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	51,430,254	37,346,843	24,737,700	29,420,255	24,767,442	32,383,950	37,583,914	36,232,397	27,268,950	43,448,541	26,128,417	6,537,799	14,440,862	23,985,746	26,855,507
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	28,288,564	28,094,565	32,200,838	33,122,444	30,231,827	29,795,206	21,098,005	20,814,929	22,863,409	20,267,878	14,520,438	22,383,649	28,909,454	23,312,013	18,491,106
Gross Profit	23,141,690	9,252,278	-7,463,138	-3,702,189	-5,464,385	2,588,744	16,485,909	15,417,468	4,405,541	23,180,664	11,607,978	-15,845,851	-14,468,593	673,733	8,364,401
Admin Expenses	1,537,857	-3,598,806	-11,025,143	-849,972	261,811	-292,021	599,272	-44,060,793	-235,475	-1,083,827	813,223	554,666	445,634	497,076	459,308
Operating Profit	21,603,833	12,851,084	3,562,005	-2,852,217	-5,726,196	2,880,765	15,886,637	59,478,261	4,641,016	24,264,491	10,794,755	-16,400,517	-14,914,227	176,657	7,905,093
Interest Payable	5,311,813	5,151,587	5,238,243	8,947,157	12,161,036	11,930,370	9,566,973	9,701,424	8,494,806	6,589,947	8,131,618	3,409,874	2,344,254	2,998,904	2,554,215
Interest Receivable	903,235	440,622	131,926	275,839	1,322,217	227,548	3,482,425	3,472,104	3,193,535	183,203	89,263	14,774	3,869	18,274	26,803
Pre-Tax Profit	17,195,256	8,140,119	-12,425,889	-11,523,535	-16,565,014	-8,822,057	9,802,090	53,248,942	-660,254	17,857,748	5,874,785	-15,100,345	-13,127,177	-2,975,755	5,377,680
Tax	-4,297,832	1,730,286	-1,053,081	-178,815	1,804,154	-6,441,899	-10,432,236	-3,232,782	261,639	1,645,755	-1,255,233	4,055,036	3,608,926	1,099,537	-1,418,738
Profit After Tax	12,897,424	9,870,405	-13,478,969	-11,702,349	-14,760,860	-15,263,956	-630,146	50,016,160	-398,615	19,503,502	4,619,552	-11,045,309	-9,518,251	-1,876,218	3,958,942
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	12,897,424	9,870,405	-13,478,969	-11,702,349	-14,760,860	-15,263,956	-630,146	50,016,160	-398,615	19,503,502	4,619,552	-11,045,309	-9,518,251	-1,876,218	3,958,942
Employee Costs	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Number Of Employees	240	168	111	129	104	141	187	154	102	159	94	24	56	102	0
EBITDA*	44,630,851	37,266,729	30,308,862	26,723,599	21,853,883	29,880,158	34,099,113	75,211,235	21,642,170	39,120,160	21,319,256	2,589,879	12,110,796	21,747,685	21,276,803

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	100,886,742	117,349,984	138,044,389	170,759,361	180,892,204	201,374,393	275,818,556	229,462,100	196,147,749	182,885,074	130,738,734	145,602,684	87,190,764	92,945,297	81,789,717
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	100,886,742	117,349,984	138,044,389	170,759,362	180,892,204	201,374,393	275,818,556	229,462,101	196,147,749	182,885,074	130,738,734	145,602,684	87,190,765	92,945,297	81,789,717
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	0	0	0	0	0	10,619	11,083	10,773	10,773	10,777	8,619	8,619	9,029	3,046	142,544
Group Debtors	3,297,203	5,387,998	13,810,336	5,484,724	1,958,461	3,555,825	9,885,212	465,563	229,318	226,310	9,023,023	0	0	0	0
Misc Debtors	96,606	81,683	73,723	77,780	14,626	2,145,024	958,676	14,176,991	14,653,328	26,686,167	55,392,760	31,205,368	4,120,340	62,743	8,504,507
Cash	23,253,220	14,853,911	4,632,935	22,401,572	47,845,546	45,051,578	178,119	19,981,531	29,210,466	16,575,321	2,504,925	20,892,637	741,003	32,286	3,341,252
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	26,647,031	20,323,594	18,516,995	27,964,077	49,818,634	50,763,046	11,033,091	34,634,860	44,103,886	43,498,576	66,929,328	52,106,624	4,870,373	98,075	11,988,304
total assets	127,533,773	137,673,578	156,561,384	198,723,438	230,710,838	252,137,439	286,851,647	264,096,960	240,251,635	226,383,650	197,668,062	197,709,308	92,061,138	93,043,372	93,778,021
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	113,101	69,208,294	93,090,951	121,776,922	182,828,726	189,658,677	205,447,277	4,203,155	29,920,739	4,774,074	23,909,136	173,405,565	43,072,359	28,502,680	78,380,848
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	11,695,789	11,841,910	11,540,876	11,782,535	9,504,142	0
other current liabilities	10,720,232	2,496,072	3,411,454	1,041,616	4,747,696	367,111	5,889,012	1,385,917	1,423,624	554,229	1,739,719	267,175	454,662	713,328	1,525,341
total current liabilities	10,833,333	71,704,367	96,502,406	122,818,539	187,576,422	190,025,789	211,336,289	5,589,073	31,344,363	17,024,094	37,490,766	185,213,617	55,309,558	38,720,151	79,906,189
loans	39,410,933	0	0	0	0	0	0	192,381,685	192,381,685	192,440,920	153,902,979	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	781,310	9,979,069	21,820,980	34,949,696	42,694,322	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	8,100,062	9,677,191	14,192,146	14,584,235	13,101,506	15,653,064	11,095,630	2,893,420	3,308,964	2,517,897	1,000,984	0	0	936,281	1,302,997
total long term liabilities	47,510,996	9,677,191	14,192,147	14,584,235	13,101,507	15,653,064	11,095,630	195,275,106	195,690,650	195,740,128	164,883,034	21,820,980	34,949,697	43,630,604	1,302,997
total liabilities	58,344,329	81,381,558	110,694,552	137,402,774	200,677,929	205,678,853	222,431,919	200,864,179	227,035,013	212,764,221	202,373,800	207,034,597	90,259,254	82,350,755	81,209,186
net assets	69,189,444	56,292,020	45,866,832	61,320,664	30,032,909	46,458,586	64,419,728	63,232,782	13,216,622	13,619,429	-4,705,737	-9,325,289	1,801,883	10,692,617	12,568,835
total shareholders funds	69,189,444	56,292,020	45,866,832	61,320,664	30,032,909	46,458,586	64,419,728	63,232,782	13,216,622	13,619,429	-4,705,737	-9,325,289	1,801,883	10,692,617	12,568,835

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	21,603,833	12,851,084	3,562,005	-2,852,217	-5,726,196	2,880,765	15,886,637	59,478,261	4,641,016	24,264,491	10,794,755	-16,400,517	-14,914,227	176,657	7,905,093
Depreciation	23,027,019	24,415,646	26,746,857	29,575,816	27,580,079	26,999,393	18,212,476	15,732,974	17,001,154	14,855,669	10,524,501	18,990,396	27,025,023	21,571,028	13,371,711
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-4,297,832	1,730,286	-1,053,081	-178,815	1,804,154	-6,441,899	-10,432,236	-3,232,782	261,639	1,645,755	-1,255,233	4,055,036	3,608,926	1,099,537	-1,418,738
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-2,075,872	-8,414,378	8,321,555	3,589,418	-3,738,381	-5,143,503	-3,798,357	-240,092	-12,029,834	-37,501,148	33,210,416	27,084,617	4,063,580	-8,581,262	8,647,051
Creditors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	8,224,160	-915,382	2,369,838	-3,706,080	4,380,585	-5,521,901	4,503,095	-37,707	869,395	-1,185,490	1,472,544	-187,487	-258,666	-812,013	1,525,341
Deferred Taxes & Provisions	-1,577,129	-4,514,955	-392,089	1,482,729	-2,551,558	4,557,434	8,202,210	-415,544	791,067	1,516,913	1,000,984	0	-936,281	-366,716	1,302,997
Cash flow from operations	49,055,923	41,981,057	22,911,975	20,732,015	29,225,445	27,617,295	40,170,539	71,765,294	35,594,105	78,598,486	-10,672,865	-20,627,189	10,461,195	30,249,755	14,039,353
Investing Activities
capital expenditure	-6,563,777	-3,721,241	5,968,115	-19,442,973	-7,097,890	47,444,770	-64,568,932	-49,047,325	-30,263,829	-67,002,009	4,339,449	-77,402,316	-21,270,490	-32,726,608	-95,161,428
Change in Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-6,563,777	-3,721,241	5,968,115	-19,442,973	-7,097,890	47,444,770	-64,568,932	-49,047,325	-30,263,829	-67,002,009	4,339,449	-77,402,316	-21,270,490	-32,726,608	-95,161,428
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-69,095,193	-23,882,657	-28,685,971	-61,051,804	-6,829,951	-15,788,600	201,244,122	-25,717,584	25,146,664	-19,135,061	-149,496,429	130,333,206	14,569,679	-49,878,168	78,380,848
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	39,410,933	0	0	0	0	0	-192,381,685	0	-59,235	38,537,941	153,902,979	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	-12,477,099	-9,343,880	-11,540,877	-13,370,375	-5,466,233	52,198,464	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	554,783	-1,974,863	42,990,104	-1,664,817	-2,697,186	1,817,092	0	-4,192	-1,178,336	0	-81,863	627,517	0	8,609,893
interest	-4,408,578	-4,710,965	-5,106,317	-8,671,318	-10,838,819	-11,702,822	-6,084,548	-6,229,320	-5,301,271	-6,406,744	-8,042,355	-3,395,100	-2,340,385	-2,980,630	-2,527,412
cash flow from financing	-34,092,838	-28,038,839	-35,767,151	-26,733,018	-19,333,587	-30,188,608	4,594,981	-31,946,904	7,304,867	2,473,920	-15,176,682	113,485,868	7,390,578	-660,334	84,463,329
cash and cash equivalents
cash	8,399,309	10,220,976	-17,768,637	-25,443,975	2,793,969	44,873,459	-19,803,412	-9,228,934	12,635,144	14,070,396	-18,387,712	20,151,634	708,718	-3,308,967	3,341,252
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	8,399,309	10,220,976	-17,768,637	-25,443,975	2,793,969	44,873,459	-19,803,412	-9,228,934	12,635,144	14,070,396	-18,387,712	20,151,634	708,718	-3,308,967	3,341,252

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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SUBSEA LEASING LIMITED group structure

Subsea Leasing Limited has no subsidiary companies.

Ultimate parent company

STENA AB

#0005521

STENA DRILLING LIMITED

00061135

2 parents

SUBSEA LEASING LIMITED

02310248

SUBSEA LEASING LIMITED Shareholders

stena drilling ltd

100%

Subsea Leasing Limited currently has 4 directors. The longest serving directors include Mr Peter Claesson (Mar 2008) and Mr Erik Ronsberg (Mar 2016).

officer	country	age	start	end	role
Mr Peter Claesson	Sweden	59 years	Mar 2008	-	Director
Mr Erik Ronsberg	United Kingdom	52 years	Mar 2016	-	Director
Mr Stuart Wyness	Scotland	53 years	Feb 2018	-	Director
Ms Dora Hult	England	51 years	Feb 2021	-	Director

P&L

December 2023

turnover

51.4m

+38%

operating profit

21.6m

+68%

gross margin

45%

+81.63%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

December 2023

net assets

69.2m

+0.23%

total assets

127.5m

-0.07%

cash

23.3m

+0.57%

net assets

Total assets minus all liabilities

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company number

02310248

Type

Private limited with Share Capital

industry

09100 - Support activities for petroleum and natural gas extraction

incorporation date

October 1988

ultimate parent company

STENA AB

previous names

stena subsea leasing limited (January 2010)

maxiflair limited (September 2004)

address

6 arlington street, london, SW1A 1RE

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

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subsea leasing limited Company Information

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subsea leasing limited Estimated Valuation

subsea leasing limited Estimated Valuation

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SUBSEA LEASING LIMITED financials

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