Subsea 7 International Contracting Limited

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subsea 7 international contracting limited Company Information

Live

MatureMegaDeclining

Company Number

03073521

Website

www.subsea7.com

Registered Address

40 brighton road, sutton, surrey, SM2 5BN

Industry

Specialised construction activities (other than scaffold erection) n.e.c.

Telephone

02087226025

Next Accounts Due

September 2025

Group Structure

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Directors

John Gordon13 Years

Simon Ellis6 Years

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Shareholders

subsea 7 international holdings (uk) limited 100%

subsea 7 international contracting limited Estimated Valuation

£547.5m

Pomanda estimates the enterprise value of SUBSEA 7 INTERNATIONAL CONTRACTING LIMITED at £547.5m based on a Turnover of £580.2m and 0.94x industry multiple (adjusted for size and gross margin).

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Subsea 7 International Contracting Limited is a live company located in surrey, SM2 5BN with a Companies House number of 03073521. It operates in the other specialised construction activities n.e.c. sector, SIC Code 43999. Founded in June 1995, it's largest shareholder is subsea 7 international holdings (uk) limited with a 100% stake. Subsea 7 International Contracting Limited is a mature, mega sized company, Pomanda has estimated its turnover at £580.2m with declining growth in recent years.

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Pomanda's financial health check has awarded Subsea 7 International Contracting Limited a 3 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 5 areas for improvement. Company Health Check FAQs

Health Rating3out of 5

4 Strong

2 Regular

5 Weak

Size

annual sales of £580.2m, make it larger than the average company (£8.4m)

Growth

3 year (CAGR) sales growth of -2%, show it is growing at a slower rate (8.9%)

EXPORT

Subsea 7 International Contracting Limited's latest turnover from December 2023 is £580.2 million and the company has net assets of £19.3 million. According to their latest financial statements, Subsea 7 International Contracting Limited has 54 employees and maintains cash reserves of 0 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	Nov 2010	Nov 2009
Turnover	580,236,323	534,009,821	701,287,618	620,757,215	521,477,793	554,930,218	607,646,331	617,616,573	812,231,880	455,922,023	183,555,043	139,315,793	120,654,351	88,975,068	59,224,927
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	445,645,977	404,297,435	654,816,874	603,556,615	398,431,948	419,565,232	456,736,851	462,135,346	613,685,121	348,864,927	155,124,311	119,746,843	103,930,460	67,298,575	47,201,021
Gross Profit	134,590,346	129,712,386	46,470,744	17,200,600	123,045,845	135,364,986	150,909,480	155,481,227	198,546,758	107,057,096	28,430,732	19,568,949	16,723,891	21,676,492	12,023,906
Admin Expenses	137,816,771	141,744,919	0	10,803,106	104,728,863	291,983	2,181,361	-9,324,799	80,875,667	59,644,723	33,962	1,883,436	278,037	5,331,614	1,978,460
Operating Profit	-3,226,425	-12,032,533	46,470,744	6,397,494	18,316,982	135,073,003	148,728,119	164,806,026	117,671,091	47,412,373	28,396,770	17,685,513	16,445,854	16,344,878	10,045,446
Interest Payable	18,658,022	4,440,267	2,214,279	2,492,278	1,966,999	1,517	0	0	13,969	385	120,466	472,725	695,403	1,992,140	1,283,695
Interest Receivable	2,737,665	436,584	0	116,494	2,437,304	3,014,259	5,958,779	3,114,124	1,725,128	581,556	611,303	0	0	1,167,403	3,112
Pre-Tax Profit	14,646,666	4,034,374	36,115,965	-4,365,899	19,241,841	114,503,186	130,924,155	158,479,849	113,963,216	42,855,361	28,739,587	17,212,788	15,234,185	15,581,552	6,869,825
Tax	-17,873,091	-16,066,907	-11,052,864	-5,061,336	-5,988,224	-5,094,053	-10,439,406	-9,050,847	-19,753,997	-5,365,253	-5,379,341	-3,450,271	386,888	-3,571,604	293,220
Profit After Tax	-3,226,425	-12,032,533	25,063,101	-9,427,235	13,253,616	109,409,132	120,484,749	149,429,002	94,209,219	37,490,109	23,360,246	13,762,518	15,621,074	12,009,948	7,163,046
Dividends Paid	0	0	0	0	127,952,315	106,189,320	383,347,073	0	0	0	0	0	0	0	0
Retained Profit	-3,226,425	-12,032,533	25,063,101	-9,427,235	-114,698,699	3,219,812	-262,862,325	149,429,002	94,209,219	37,490,109	23,360,246	13,762,518	15,621,074	12,009,948	7,163,046
Employee Costs	7,362,848	6,208,854	8,971,847	8,073,427	6,966,635	8,370,752	9,022,259	10,761,582	17,903,151	14,627,588	1,132,898	471,481	0	0	0
Number Of Employees	54	53	55	62	58	63	64	3,457	88	88	90	82	849	705	0
EBITDA*	35,040,282	3,319,266	68,039,890	24,973,965	29,104,216	136,740,175	154,527,789	180,774,388	122,837,939	49,027,107	33,868,384	24,691,796	21,288,176	20,978,261	17,222,188

* 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	Nov 2010	Nov 2009
Tangible Assets	2,269,623	3,135,885	16,491,925	18,081,370	53,682,489	17,680,522	21,695,796	11,576,648	29,580,164	23,023,169	6,699,346	57,061,018	53,904,335	57,316,384	35,662,703
Intangible Assets	76,639,300	5,677,127	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	816,390	639,147	0	0	0	0	0	0	3,664,442	5,064,121	1,712,162	136,219	1	1	1
Debtors (Due After 1 year)	85,156,909	31,217,678	179,154	2,696,143	6,264,447	0	0	0	0	0	0	0	2,236,735	5,473,470	8,237,564
Total Fixed Assets	164,882,222	40,669,838	16,312,770	17,543,906	47,418,041	17,680,521	21,695,795	11,576,647	33,244,607	28,087,291	8,411,508	57,197,238	56,141,071	62,789,855	43,900,268
Stock & work in progress	12,835,878	16,308,601	13,918,453	6,678,139	6,396,016	6,070,995	5,753,503	6,073,822	6,327,798	4,343,699	1,626,298	4,044,287	3,647,447	3,807,418	4,474,258
Trade Debtors	3,873,245	620,732	1,453,535	7,700,997	167,188	8,071,147	9,559,769	2,279,473	8,917,430	8,373,258	51,200,179	12,874,914	36,685,327	8,951,732	5,116,105
Group Debtors	119,793,600	154,541,548	173,703,997	144,232,636	123,930,362	158,279,733	190,046,990	439,301,694	274,844,016	126,302,055	54,383,570	19,004,167	17,920,631	24,901,129	2,848,782
Misc Debtors	23,478,861	21,077,265	23,905,215	29,304,562	2,516,537	6,575,394	3,177,246	650,094	1,062,393	10,306,981	6,346,917	4,349,692	4,240,840	3,847,334	10,895,847
Cash	0	0	0	0	0	0	0	7,393,596	22,070,464	14,102,609	3,281,430	2,999,316	6,112,459	42,373	189,877
misc current assets	0	0	0	0	22,727,339	31,729,369	40,085,738	28,690,019	26,214,496	31,736,818	0	0	0	0	0
total current assets	159,981,585	192,548,147	212,981,202	187,916,336	155,737,443	210,726,638	248,623,248	484,388,701	339,436,598	195,165,422	116,838,395	43,272,377	68,606,705	41,549,988	23,524,871
total assets	324,863,807	233,217,985	229,293,972	205,460,242	203,155,484	228,407,159	270,319,043	495,965,348	372,681,204	223,252,713	125,249,904	100,469,615	124,747,776	104,339,843	67,425,139
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	10,310,750	10,976,751	12,103,080	7,638,337	5,771,607	9,600,273	3,594,394	3,251,224	4,523,514	5,225,772	876,586	534,304	1,179,325	358,634	968,686
Group/Directors Accounts	131,648,124	111,647,357	1	0	0	0	1	0	47,458,482	33,494,188	20,318,467	24,043,665	69,927,225	69,247,114	39,531,843
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	57,540,857	14,369,676	17,816,609	11,739,475	7,977,756	0	0	0	0	0	0	0	0	0	0
other current liabilities	46,749,021	37,695,848	157,154,706	161,967,169	138,089,698	76,133,949	114,517,721	116,027,870	84,987,583	46,770,610	20,854,158	18,185,606	9,695,838	6,543,232	6,883,521
total current liabilities	246,248,753	174,689,634	187,074,398	181,344,983	151,839,064	85,734,223	118,112,119	119,279,096	136,969,579	85,490,570	42,049,212	42,763,575	80,802,389	76,148,981	47,384,050
loans	0	0	0	12,316,652	57,910,880	0	0	0	0	0	0	97,655	0	0	0
hp & lease commitments	58,726,310	33,465,817	0	6,158,326	28,955,440	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	217,343	282,160	376,751	466,290	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	553,313	0	0	0	99,521	99,484	0
provisions	553,978	2,600,322	5,325,214	7,047,920	5,117,394	4,729,974	6,553,998	1,285,122	2,591,184	916,018	493,399	0	0	225,988	3,967,502
total long term liabilities	59,280,288	36,066,140	2,662,607	9,682,287	31,731,482	2,647,148	3,653,751	1,108,851	3,144,498	916,019	493,400	97,655	99,521	325,473	3,967,503
total liabilities	305,529,042	210,755,774	189,737,005	191,027,270	183,570,546	88,381,371	121,765,870	120,387,947	140,114,077	86,406,589	42,542,612	42,861,230	80,901,910	76,474,453	51,351,553
net assets	19,334,766	22,462,211	39,556,967	14,432,972	19,584,938	140,025,788	148,553,173	375,577,401	232,567,127	136,846,124	82,707,292	57,608,385	43,845,867	27,865,389	16,073,585
total shareholders funds	19,334,766	22,462,211	39,556,968	14,432,971	19,584,939	140,025,789	148,553,174	375,577,401	232,567,127	136,846,124	82,707,292	57,608,385	43,845,867	27,865,389	16,073,585

	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	Nov 2010	Nov 2009
Operating Activities
Operating Profit	-3,226,425	-12,032,533	46,470,744	6,397,494	18,316,982	135,073,003	148,728,119	164,806,026	117,671,091	47,412,373	28,396,770	17,685,513	16,445,854	16,344,878	10,045,446
Depreciation	1,615,131	2,471,419	12,795,870	10,284,176	1,936,469	1,667,172	5,799,670	15,968,362	5,166,848	1,614,733	5,471,613	7,006,282	4,842,321	4,633,382	7,176,742
Amortisation	36,651,576	12,880,380	8,773,276	8,292,295	8,850,766	0	0	0	0	0	0	0	0	0	0
Tax	-17,873,091	-16,066,907	-11,052,864	-5,061,336	-5,988,224	-5,094,053	-10,439,406	-9,050,847	-19,753,997	-5,365,253	-5,379,341	-3,450,271	386,888	-3,571,604	293,220
Stock	-3,472,723	2,390,148	7,240,314	282,123	325,021	317,492	-320,319	-253,976	1,984,098	2,717,402	-2,417,989	396,840	-159,972	-666,839	4,474,258
Debtors	24,845,393	8,215,321	15,307,563	51,055,805	-40,047,740	-29,857,732	-239,447,255	157,407,422	139,841,544	33,051,628	75,701,893	-24,854,760	17,909,868	16,075,367	27,098,299
Creditors	-666,002	-1,126,329	4,464,743	1,866,730	-3,828,666	6,005,879	343,170	-1,272,290	-702,258	4,349,186	342,282	-645,021	820,690	-610,052	968,686
Accruals and Deferred Income	9,053,173	-119,458,858	-4,812,463	23,660,128	61,890,932	-38,478,363	-1,599,688	31,506,577	38,216,973	25,916,452	2,668,552	8,489,768	3,152,606	-340,289	6,883,521
Deferred Taxes & Provisions	-2,046,344	-2,724,892	-1,722,706	1,930,526	387,420	-1,824,024	5,268,876	-1,306,062	1,675,166	422,619	493,399	0	-225,988	-3,741,514	3,967,502
Cash flow from operations	2,135,348	-146,663,189	32,368,723	-3,967,915	121,288,398	126,889,854	387,868,315	43,498,320	448,181	38,581,080	-41,290,629	53,544,191	7,672,475	-2,693,727	-2,237,440
Investing Activities
capital expenditure	-108,362,618	-7,672,886	-19,979,701	17,024,648	-46,789,202	2,348,102	-15,918,818	2,035,154	-11,723,843	-17,938,556	44,890,059	-10,162,965	-1,430,272	-26,287,063	-42,839,445
Change in Investments	177,243	639,147	0	0	0	0	0	-3,664,442	-1,399,679	3,351,959	1,575,943	136,219	0	0	1
cash flow from investments	-108,539,861	-8,312,033	-19,979,701	17,024,648	-46,789,202	2,348,102	-15,918,818	5,699,596	-10,324,164	-21,290,515	43,314,116	-10,299,184	-1,430,272	-26,287,063	-42,839,446
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	20,000,767	111,647,356	0	0	0	-1	1	-47,458,482	13,964,294	13,175,721	-3,725,198	-45,883,560	680,111	29,715,270	39,531,843
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	-12,316,652	-45,594,228	57,910,880	0	0	0	0	0	-97,655	97,655	0	0	0
Hire Purchase and Lease Commitments	68,431,674	30,018,884	-81,192	-19,035,395	36,933,196	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	-553,313	553,313	0	0	-99,521	37	99,484	0
share issue	98,979	-5,062,223	60,895	4,275,268	-5,742,151	-11,747,197	35,838,098	-6,418,728	1,511,784	16,648,723	1,738,661	0	359,403	-218,144	8,910,539
interest	-15,920,357	-4,003,683	-2,214,279	-2,375,784	470,305	3,012,742	5,958,779	3,114,124	1,711,159	581,171	490,837	-472,725	-695,403	-824,737	-1,280,583
cash flow from financing	72,611,063	132,600,334	-14,551,228	-62,730,139	89,572,230	-8,734,456	41,796,878	-51,316,399	17,740,550	30,405,615	-1,593,355	-46,358,151	344,148	28,771,873	47,161,799
cash and cash equivalents
cash	0	0	0	0	0	0	-7,393,596	-14,676,868	7,967,855	10,821,179	282,114	-3,113,143	6,070,086	-147,504	189,877
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	0	0	0	0	0	0	-7,393,596	-14,676,868	7,967,855	10,821,179	282,114	-3,113,143	6,070,086	-147,504	189,877

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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SUBSEA 7 INTERNATIONAL CONTRACTING LIMITED group structure

Subsea 7 International Contracting Limited has no subsidiary companies.

Ultimate parent company

SUBSEA 7 SA

#0061195

SUBSEA 7 INTERNATIONAL HOLDINGS (UK) LIMITED

09201671

2 parents

SUBSEA 7 INTERNATIONAL CONTRACTING LIMITED

03073521

SUBSEA 7 INTERNATIONAL CONTRACTING LIMITED Shareholders

subsea 7 international holdings (uk) limited

100%

Subsea 7 International Contracting Limited currently has 6 directors. The longest serving directors include Mr John Gordon (May 2011) and Mr Simon Ellis (Apr 2018).

officer	country	age	start	end	role
Mr John Gordon	England	57 years	May 2011	-	Director
Mr Simon Ellis	England	49 years	Apr 2018	-	Director
Mr Simon Ellis	England	49 years	Apr 2018	-	Director
Mr Jonathan Tame	England	59 years	Oct 2020	-	Director
Mr Jonathan Tame	England	59 years	Oct 2020	-	Director
Mr Yann Cottart	England	43 years	Jan 2023	-	Director

P&L

December 2023

turnover

580.2m

+9%

operating profit

-3.2m

gross margin

23.2%

-4.51%

turnover

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

Balance Sheet

December 2023

net assets

19.3m

-0.14%

total assets

324.9m

+0.39%

cash

net assets

Total assets minus all liabilities

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company number

03073521

Type

Private limited with Share Capital

industry

43999 - Specialised construction activities (other than scaffold erection) n.e.c.

incorporation date

June 1995

ultimate parent company

SUBSEA 7 SA

previous names

acergy international limited (January 2011)

stolt offshore international limited (January 2006)

address

40 brighton road, sutton, surrey, SM2 5BN

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 1 charges/mortgages relating to subsea 7 international contracting limited. Currently there are 0 open charges and 1 have been satisfied in the past.

subsea 7 international contracting limited Company Information

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subsea 7 international contracting limited Estimated Valuation

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