south east water limited

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south east water limited Company Information

Share SOUTH EAST WATER LIMITED

Company Number

02679874

Directors

David Hinton

Andrew Farmer

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Shareholders

south east water (holdings) ltd

Group Structure

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Industry

Water collection, treatment and supply

 

Registered Address

south east water limited, rocfort road, snodland, kent, ME6 5AH

south east water limited Estimated Valuation

£628.3m

Pomanda estimates the enterprise value of SOUTH EAST WATER LIMITED at £628.3m based on a Turnover of £281.8m and 2.23x industry multiple (adjusted for size and gross margin).

south east water limited Estimated Valuation

£1.3b

Pomanda estimates the enterprise value of SOUTH EAST WATER LIMITED at £1.3b based on an EBITDA of £127.1m and a 10.34x industry multiple (adjusted for size and gross margin).

south east water limited Estimated Valuation

£651.1m

Pomanda estimates the enterprise value of SOUTH EAST WATER LIMITED at £651.1m based on Net Assets of £242.8m and 2.68x industry multiple (adjusted for liquidity).

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South East Water Limited Overview

South East Water Limited is a live company located in snodland, ME6 5AH with a Companies House number of 02679874. It operates in the water collection, treatment and supply sector, SIC Code 36000. Founded in February 1992, it's largest shareholder is south east water (holdings) ltd with a 100% stake. South East Water Limited is a mature, mega sized company, Pomanda has estimated its turnover at £281.8m with healthy growth in recent years.

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South East Water Limited Health Check

Pomanda's financial health check has awarded South East Water Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 3 areas for improvement. Company Health Check FAQs

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Health Rating4.5out of 5
positive_score

5 Strong

positive_score

4 Regular

positive_score

3 Weak

size

Size

annual sales of £281.8m, make it larger than the average company (£22m)

£281.8m - South East Water Limited

£22m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 4%, show it is growing at a slower rate (6.3%)

4% - South East Water Limited

6.3% - Industry AVG

production

Production

with a gross margin of 26.4%, this company has a comparable cost of product (26.4%)

26.4% - South East Water Limited

26.4% - Industry AVG

profitability

Profitability

an operating margin of 22.6% make it more profitable than the average company (6.6%)

22.6% - South East Water Limited

6.6% - Industry AVG

employees

Employees

with 1071 employees, this is above the industry average (112)

1071 - South East Water Limited

112 - Industry AVG

paystructure

Pay Structure

on an average salary of £36.1k, the company has a lower pay structure (£49.5k)

£36.1k - South East Water Limited

£49.5k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £263.1k, this is equally as efficient (£263.1k)

£263.1k - South East Water Limited

£263.1k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 63 days, this is near the average (60 days)

63 days - South East Water Limited

60 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 30 days, this is close to average (31 days)

30 days - South East Water Limited

31 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 2 days, this is less than average (15 days)

2 days - South East Water Limited

15 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 1 weeks, this is less cash available to meet short term requirements (11 weeks)

1 weeks - South East Water Limited

11 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 87.3%, this is a higher level of debt than the average (78%)

87.3% - South East Water Limited

78% - Industry AVG

SOUTH EAST WATER LIMITED financials

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South East Water Limited's latest turnover from March 2024 is £281.8 million and the company has net assets of £242.8 million. According to their latest financial statements, South East Water Limited has 1,071 employees and maintains cash reserves of £5 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Turnover281,775,000257,482,000251,276,000248,156,000243,481,000238,281,000221,492,000218,905,000214,430,000215,080,000213,588,000207,887,000200,067,000190,545,000181,014,000
Other Income Or Grants
Cost Of Sales207,378,296183,226,463169,035,365166,856,951163,713,540156,589,880144,601,673142,900,017135,357,984141,499,144141,814,037128,527,126124,072,457119,090,625117,279,193
Gross Profit74,396,70474,255,53782,240,63581,299,04979,767,46081,691,12076,890,32776,004,98379,072,01673,580,85671,773,96479,359,87475,994,54371,454,37563,734,807
Admin Expenses10,619,70432,956,537-1,589,3653,777,049-59,615,396-4,745,8801,849,327-3,005,0174,300,016-6,103,144-24,391,036-21,054,126-23,136,457-22,094,625-21,489,193
Operating Profit63,777,00041,299,00083,830,00077,522,000139,382,85686,437,00075,041,00079,010,00074,772,00079,684,00096,165,000100,414,00099,131,00093,549,00085,224,000
Interest Payable102,151,000117,459,00067,565,00042,956,00052,862,00056,110,00056,017,00058,793,00041,799,00052,323,00033,598,0009,353,00062,682,00063,017,00032,278,000
Interest Receivable1,711,0001,925,000705,0003,093,0005,333,0006,076,0004,803,0005,119,0006,707,0005,127,0005,295,0005,789,0005,904,0005,567,00019,906,000
Pre-Tax Profit-36,663,000-74,235,00016,970,00037,659,00033,802,00036,403,00023,827,00025,336,00042,436,00035,285,00051,427,00041,740,00042,353,00036,099,00072,852,000
Tax8,620,00018,798,000-45,880,000-6,343,000-16,918,000-6,992,000-7,590,0001,759,0004,043,000-4,012,0008,209,000-2,550,000665,0005,318,000-20,589,000
Profit After Tax-28,043,000-55,437,000-28,910,00031,316,00016,884,00029,411,00016,237,00027,095,00046,479,00031,273,00059,636,00039,190,00043,018,00041,417,00052,263,000
Dividends Paid2,250,0009,000,0009,000,000147,013,00011,000,00028,000,00018,000,00016,000,0009,000,00027,144,00030,000,00031,000,00032,000,00031,800,00025,300,000
Retained Profit-30,293,000-64,437,000-37,910,000-115,697,0005,884,00010,664,000-1,832,00011,095,00037,479,0004,129,00029,636,0008,190,00011,018,0009,617,00026,963,000
Employee Costs38,643,00036,165,00032,416,00025,416,00030,166,00036,718,00034,964,00034,322,00033,268,00031,321,00023,906,00023,299,00019,290,00019,162,00017,449,000
Number Of Employees1,0711,0111,00198699950975899849814789749730691681
EBITDA*127,146,000102,774,000142,490,000133,926,000193,853,856137,601,000124,674,000125,465,000119,772,000117,216,000130,935,000133,346,000127,540,000120,698,000110,577,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Tangible Assets1,804,458,0001,747,363,0001,746,473,0001,712,000,0001,820,482,0001,770,598,0001,716,230,0001,655,009,0001,611,200,0001,561,997,0001,396,521,0001,333,786,0001,278,702,0001,222,046,0001,166,184,000
Intangible Assets10,066,0007,768,0008,294,0008,787,0009,568,00010,501,00010,758,00011,058,00011,046,00010,651,0009,713,0007,816,0006,274,0003,473,0003,268,000
Investments & Other135,941,000189,911,000190,013,000190,013,000190,013,000
Debtors (Due After 1 year)23,014,00023,842,00057,346,00034,368,00039,784,00025,564,0005,685,000196,239,0004,617,000
Total Fixed Assets1,814,524,0001,755,131,0001,754,767,0001,686,419,0001,794,138,0001,781,099,0001,726,988,0001,666,067,0001,622,246,0001,572,648,0001,406,234,0001,341,602,0001,284,976,0001,225,519,0001,169,452,000
Stock & work in progress1,343,0001,132,000851,000673,000689,000592,000236,000214,000185,000245,000267,000136,000232,000240,000312,000
Trade Debtors48,877,00049,309,00035,547,00039,524,00039,751,00076,397,00069,969,00065,102,00029,968,00028,422,00029,607,00028,483,00048,024,00047,074,00047,112,000
Group Debtors50,00021,00075,00026,00096,000148,00059,00017,00021,000229,00044,000188,000
Misc Debtors48,550,00043,045,00048,490,00047,136,00040,818,0009,793,0008,260,0006,915,00036,534,00037,133,00034,089,00030,264,000
Cash4,986,0004,002,00014,539,00041,617,00012,981,00012,804,0006,528,00011,371,00016,947,00028,719,00052,710,00099,494,00027,666,00055,711,00093,923,000
misc current assets
total current assets103,806,00097,509,00099,427,000129,025,00094,239,00099,586,00085,019,00083,698,00083,782,00094,578,000116,690,000158,398,00076,151,000103,069,000141,535,000
total assets1,918,330,0001,852,640,0001,854,194,0001,815,444,0001,888,377,0001,880,685,0001,812,007,0001,749,765,0001,706,028,0001,667,226,0001,522,924,0001,500,000,0001,361,127,0001,328,588,0001,310,987,000
Bank overdraft
Bank loan30,000,000254,890,00020,000,000
Trade Creditors 17,398,00013,071,00010,919,00011,369,00012,877,00013,890,00013,610,00014,339,00010,803,00014,366,00013,784,00013,587,00014,182,00018,240,00010,285,000
Group/Directors Accounts
other short term finances97,436,00030,520,00080,000,000108,836,0003,000,00016,000,000
hp & lease commitments339,000318,000329,0001,066,0001,114,0002,055,000
other current liabilities110,068,000119,797,000102,986,00090,911,00058,754,00089,528,00090,877,00090,836,00085,091,00084,951,00082,080,00088,859,00071,032,00066,177,00064,658,000
total current liabilities224,902,000163,388,000114,244,000182,598,000101,960,000467,144,000124,487,000105,175,00095,894,00099,317,00095,864,000102,446,00089,280,00085,531,00092,998,000
loans1,250,980,0001,198,501,0002,240,956,0002,076,742,0002,057,994,0001,435,208,0001,905,963,0001,864,964,0001,826,986,0001,815,647,0001,789,647,0001,762,801,0001,529,533,0001,489,138,0001,443,320,000
hp & lease commitments3,175,0003,592,0003,910,000
Accruals and Deferred Income3,646,0004,876,0004,315,0003,625,0003,438,0003,185,00074,471,00069,938,00065,633,00061,876,00058,282,00055,034,00052,334,00049,370,00046,071,000
other liabilities3,864,0004,104,0004,154,0004,623,00040,868,0005,379,0005,979,0004,261,0002,589,0001,751,0001,012,000955,000596,000636,000676,000
provisions384,316,000405,374,000463,318,000340,800,000338,934,000297,098,000286,732,000269,492,000284,064,000320,156,000307,698,000342,766,000351,740,000335,006,000405,188,000
total long term liabilities1,450,648,0001,410,168,0001,360,606,0001,217,019,0001,242,770,000874,717,0001,228,882,0001,191,885,0001,167,360,0001,175,934,0001,149,452,0001,149,731,0001,025,677,000986,805,000989,501,000
total liabilities1,675,550,0001,573,556,0001,474,850,0001,399,617,0001,344,730,0001,341,861,0001,353,369,0001,297,060,0001,263,254,0001,275,251,0001,245,316,0001,252,177,0001,114,957,0001,072,336,0001,082,499,000
net assets242,780,000279,084,000379,344,000415,827,000543,647,000538,824,000458,638,000452,705,000442,774,000391,975,000277,608,000247,823,000246,170,000256,252,000228,488,000
total shareholders funds242,780,000279,084,000379,344,000415,827,000543,647,000538,824,000458,638,000452,705,000442,774,000391,975,000277,608,000247,823,000246,170,000256,252,000228,488,000
Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013Mar 2012Mar 2011Mar 2010
Operating Activities
Operating Profit63,777,00041,299,00083,830,00077,522,000139,382,85686,437,00075,041,00079,010,00074,772,00079,684,00096,165,000100,414,00099,131,00093,549,00085,224,000
Depreciation59,874,00057,361,00055,666,00052,907,00051,422,00048,035,00046,234,00043,275,00042,040,00034,691,00032,087,00030,743,00026,836,00025,343,00023,644,000
Amortisation3,495,0004,114,0002,994,0003,497,0003,049,0003,129,0003,399,0003,180,0002,960,0002,841,0002,683,0002,189,0001,573,0001,806,0001,709,000
Tax8,620,00018,798,000-45,880,000-6,343,000-16,918,000-6,992,000-7,590,0001,759,0004,043,000-4,012,0008,209,000-2,550,000665,0005,318,000-20,589,000
Stock211,000281,000178,000-16,00097,000356,00022,00029,000-60,000-22,000131,000-96,000-8,000-72,000312,000
Debtors4,274,000-25,166,00020,280,000750,0008,599,00033,499,0006,142,0005,463,0001,036,0001,901,0004,945,0004,830,000-189,419,000191,440,00051,917,000
Creditors4,327,0002,152,000-450,000-1,508,000-1,013,000280,000-729,0003,536,000-3,563,000582,000197,000-595,000-4,058,0007,955,00010,285,000
Accruals and Deferred Income-10,959,00017,372,00012,765,00032,344,000-30,521,000-72,635,0004,574,00010,050,0003,897,0006,465,000-3,531,00020,527,0007,819,0004,818,000110,729,000
Deferred Taxes & Provisions-21,058,000-57,944,000122,518,0001,866,00041,836,00010,366,00017,240,000-14,572,000-36,092,00012,458,000-35,068,000-8,974,00016,734,000-70,182,000405,188,000
Cash flow from operations103,591,000108,037,000210,985,000159,551,000178,541,85634,765,000132,005,000120,746,00087,081,000130,830,00095,666,000137,020,000338,127,000-122,761,000563,961,000
Investing Activities
capital expenditure-122,762,000-61,839,000-92,640,00052,859,000-103,422,000-105,275,000-110,554,000-90,276,000-94,598,000-203,946,000-99,402,000-89,558,000-87,866,000-83,216,000-1,194,805,000
Change in Investments-135,941,000-53,970,000189,911,000-190,013,000190,013,000
cash flow from investments-122,762,000-61,839,000-92,640,000188,800,000-49,452,000-295,186,000-110,554,000-90,276,000-94,598,000-13,933,000-99,402,000-89,558,000-277,879,000-83,216,000-1,194,805,000
Financing Activities
Bank loans-30,000,000-224,890,000234,890,00020,000,000
Group/Directors Accounts
Other Short Term Loans 66,916,00030,520,000-80,000,00080,000,000-108,836,000108,836,000-3,000,0003,000,000-16,000,00016,000,000
Long term loans52,479,000-1,042,455,000164,214,00018,748,000622,786,000-470,755,00040,999,00037,978,00011,339,00026,000,00026,846,000233,268,00040,395,00045,818,0001,443,320,000
Hire Purchase and Lease Commitments-3,514,000-396,000-329,0004,239,000-1,066,000-48,000-941,0002,055,000
other long term liabilities-240,000-50,000-469,000-36,245,00035,489,000-600,0001,718,0001,672,000838,000739,00057,000359,000-40,000-40,000676,000
share issue-6,011,000-35,823,0001,427,000-12,123,000-1,061,00069,522,0007,765,000-1,164,00013,320,000110,238,000149,000-6,537,000-21,100,00018,147,000201,525,000
interest-100,440,000-115,534,000-66,860,000-39,863,000-47,529,000-50,034,000-51,214,000-53,674,000-35,092,000-47,196,000-28,303,000-3,564,000-56,778,000-57,450,000-12,372,000
cash flow from financing12,704,000-1,166,856,00017,916,000-19,812,000280,198,000-108,141,00019,268,000-15,188,000-9,595,00089,781,000-1,251,000219,460,000-34,571,000-10,466,0001,651,204,000
cash and cash equivalents
cash984,000-10,537,000-27,078,00028,636,000177,0006,276,000-4,843,000-5,576,000-11,772,000-23,991,000-46,784,00071,828,000-28,045,000-38,212,00093,923,000
overdraft
change in cash984,000-10,537,000-27,078,00028,636,000177,0006,276,000-4,843,000-5,576,000-11,772,000-23,991,000-46,784,00071,828,000-28,045,000-38,212,00093,923,000

south east water limited Credit Report and Business Information

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Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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South East Water Limited Competitor Analysis

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Perform a competitor analysis for south east water limited by selecting its closest rivals, whether from the WATER SUPPLY; SEWERAGE, WASTE MANAGEMENT AND REMEDIATION ACTIVITIES sector, other mega companies, companies in ME6 area or any other competitors across 12 key performance metrics.

south east water limited Ownership

SOUTH EAST WATER LIMITED group structure

South East Water Limited has no subsidiary companies.

Ultimate parent company

UTA HONG KONG HOLDINGS LTD

#0126285

2 parents

SOUTH EAST WATER LIMITED

02679874

SOUTH EAST WATER LIMITED Shareholders

south east water (holdings) ltd 100%

south east water limited directors

South East Water Limited currently has 8 directors. The longest serving directors include Mr David Hinton (Jun 2013) and Mr Andrew Farmer (Aug 2015).

officercountryagestartendrole
Mr David Hinton57 years Jun 2013- Director
Mr Andrew Farmer55 years Aug 2015- Director
Mrs Celia Hussey51 years Jun 2018- Director
Mr Mark McArdle37 years Feb 2022- Director
Mr Christopher TrainUnited Kingdom64 years Feb 2022- Director
Ms Lisa Clement57 years Jan 2023- Director
Mr William McKinstryUnited Kingdom59 years Aug 2024- Director
Mrs Caroline Sheridan50 years Feb 2025- Director

P&L

March 2024

turnover

281.8m

+9%

operating profit

63.8m

+54%

gross margin

26.5%

-8.45%

turnover

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

Balance Sheet

March 2024

net assets

242.8m

-0.13%

total assets

1.9b

+0.04%

cash

5m

+0.25%

net assets

Total assets minus all liabilities

south east water limited company details

company number

02679874

Type

Private limited with Share Capital

industry

36000 - Water collection, treatment and supply

incorporation date

February 1992

age

33

incorporated

UK

ultimate parent company

UTA HONG KONG HOLDINGS LTD

accounts

Group

last accounts submitted

March 2024

previous names

south east water plc (April 2004)

mid-sussex water plc (January 1999)

accountant

-

auditor

PRICEWATERHOUSECOOPERS LLP

address

south east water limited, rocfort road, snodland, kent, ME6 5AH

Bank

HSBC BANK PLC

Legal Advisor

-

south east water limited Charges & Mortgages

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.

We found 2 charges/mortgages relating to south east water limited. Currently there are 2 open charges and 0 have been satisfied in the past.

south east water limited Capital Raised & Share Issues BETA

When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.

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south east water limited Companies House Filings - See Documents

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