solstad offshore uk limited

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solstad offshore uk limited Company Information

Share SOLSTAD OFFSHORE UK LIMITED
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MatureMegaRapid

Company Number

SC091332

Registered Address

johnstone house, 52-54 rose street, aberdeen, AB10 1HA

Industry

Sea and coastal freight water transport

 

Telephone

-

Next Accounts Due

September 2025

Group Structure

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Directors

Graham Dale2 Years

Gary Cunningham0 Years

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Shareholders

den norske nominees limited 100%

solstad offshore uk limited Estimated Valuation

£146.2m

Pomanda estimates the enterprise value of SOLSTAD OFFSHORE UK LIMITED at £146.2m based on a Turnover of £108.1m and 1.35x industry multiple (adjusted for size and gross margin).

solstad offshore uk limited Estimated Valuation

£159m

Pomanda estimates the enterprise value of SOLSTAD OFFSHORE UK LIMITED at £159m based on an EBITDA of £34.5m and a 4.61x industry multiple (adjusted for size and gross margin).

solstad offshore uk limited Estimated Valuation

£5.3m

Pomanda estimates the enterprise value of SOLSTAD OFFSHORE UK LIMITED at £5.3m based on Net Assets of £3.4m and 1.57x industry multiple (adjusted for liquidity).

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Solstad Offshore Uk Limited Overview

Solstad Offshore Uk Limited is a live company located in aberdeen, AB10 1HA with a Companies House number of SC091332. It operates in the sea and coastal freight water transport sector, SIC Code 50200. Founded in January 1985, it's largest shareholder is den norske nominees limited with a 100% stake. Solstad Offshore Uk Limited is a mature, mega sized company, Pomanda has estimated its turnover at £108.1m with rapid growth in recent years.

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Solstad Offshore Uk Limited Health Check

Pomanda's financial health check has awarded Solstad Offshore Uk Limited a 4 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 6 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating4out of 5
positive_score

5 Strong

positive_score

1 Regular

positive_score

6 Weak

size

Size

annual sales of £108.1m, make it larger than the average company (£8m)

£108.1m - Solstad Offshore Uk Limited

£8m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 120%, show it is growing at a faster rate (8.5%)

120% - Solstad Offshore Uk Limited

8.5% - Industry AVG

production

Production

with a gross margin of 19.4%, this company has a higher cost of product (34.4%)

19.4% - Solstad Offshore Uk Limited

34.4% - Industry AVG

profitability

Profitability

an operating margin of 17.3% make it more profitable than the average company (12.6%)

17.3% - Solstad Offshore Uk Limited

12.6% - Industry AVG

employees

Employees

with 11 employees, this is similar to the industry average (13)

11 - Solstad Offshore Uk Limited

13 - Industry AVG

paystructure

Pay Structure

on an average salary of £92.9k, the company has a higher pay structure (£64.9k)

£92.9k - Solstad Offshore Uk Limited

£64.9k - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £9.8m, this is more efficient (£681.8k)

£9.8m - Solstad Offshore Uk Limited

£681.8k - Industry AVG

debtordays

Debtor Days

it gets paid by customers after 36 days, this is later than average (27 days)

36 days - Solstad Offshore Uk Limited

27 days - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 4 days, this is quicker than average (28 days)

4 days - Solstad Offshore Uk Limited

28 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 3 days, this is less than average (19 days)

3 days - Solstad Offshore Uk Limited

19 days - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 2 weeks, this is less cash available to meet short term requirements (13 weeks)

2 weeks - Solstad Offshore Uk Limited

13 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 90.8%, this is a higher level of debt than the average (58.3%)

90.8% - Solstad Offshore Uk Limited

58.3% - Industry AVG

SOLSTAD OFFSHORE UK LIMITED financials

EXPORTms excel logo

Solstad Offshore Uk Limited's latest turnover from December 2023 is £108.1 million and the company has net assets of £3.4 million. According to their latest financial statements, Solstad Offshore Uk Limited has 11 employees and maintains cash reserves of £1.1 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover108,097,00080,681,00045,414,00010,164,00013,824,00010,518,0008,260,00013,503,00020,456,00028,072,00033,187,00028,074,00027,192,00025,507,00023,025,000
Other Income Or Grants000000000000000
Cost Of Sales87,085,00074,146,00040,477,00014,969,00012,598,00010,761,00010,937,00018,665,00021,059,00017,248,00019,061,00012,123,00015,072,00014,426,00013,730,000
Gross Profit21,012,0006,535,0004,937,000-4,805,0001,226,000-243,000-2,677,000-5,162,000-603,00010,824,00014,126,00015,951,00012,120,00011,081,0009,295,000
Admin Expenses2,360,000-544,0001,250,000-38,0001,345,0001,486,000-670,0006,903,000-380,000-1,698,000-1,854,0003,176,000893,0003,326,0007,591,000
Operating Profit18,652,0007,079,0003,687,000-4,767,000-119,000-1,729,000-2,007,000-12,065,000-223,00012,522,00015,980,00012,775,00011,227,0007,755,0001,704,000
Interest Payable943,0003,320,000523,0001,265,0002,218,0002,010,0001,900,0002,414,0001,989,0001,995,0002,759,0002,605,0002,882,0003,100,0003,911,000
Interest Receivable281,00035,000013,00024,0006,5594,00053,000137,000123,000144,000183,000304,000287,000429,000
Pre-Tax Profit18,715,000-6,528,0001,775,000-6,019,000-2,313,000-13,611,000-3,903,000-8,729,000-2,075,00011,153,00047,076,00010,353,0008,649,0004,942,000-1,778,000
Tax-83,000-9,000-6,000-3,000-7,000-8,0004,000-41,00024,00011,000144,000-305,00015,00036,000141,000
Profit After Tax18,632,000-6,537,0001,769,000-6,022,000-2,320,000-13,619,000-3,899,000-8,770,000-2,051,00011,164,00047,220,00010,048,0008,664,0004,978,000-1,637,000
Dividends Paid000000033,989,0001,957,0006,250,00018,711,0000000
Retained Profit18,632,000-6,537,0001,769,000-6,022,000-2,320,000-13,619,000-3,899,000-42,759,000-4,008,0004,914,00028,509,00010,048,0008,664,0004,978,000-1,637,000
Employee Costs1,022,0001,389,0001,152,0001,064,000898,000739,000301,000222,0001,047,000985,000879,000842,000642,000584,000631,000
Number Of Employees1117151514114310111111111111
EBITDA*34,468,00029,573,0005,173,0004,404,0002,813,000-196,000-1,209,000-1,507,0007,125,00013,688,00017,874,00013,674,00014,787,00011,303,0005,631,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets0107,000256,00033,452,00042,506,00048,059,00051,174,00052,954,00064,168,00067,767,00074,730,00074,773,00067,456,00071,175,00070,353,000
Intangible Assets6,988,00027,250,0000000000000000
Investments & Other0001,613,0001,649,00009,876,0009,876,0009,876,0009,876,0009,876,0009,876,0009,876,0009,876,0009,876,000
Debtors (Due After 1 year)1,220,0001,648,0000000000000000
Total Fixed Assets8,208,00029,005,000256,00035,065,00044,155,00048,059,00061,050,00062,830,00074,044,00077,643,00084,606,00084,649,00077,332,00081,051,00080,229,000
Stock & work in progress754,000200,00078,000119,00085,000443,000317,00000000000
Trade Debtors10,900,00018,196,00010,743,000802,0001,367,0001,133,0001,041,0005,293,0002,294,0004,885,0004,961,0004,888,0005,290,0004,519,0004,375,000
Group Debtors6,968,00014,994,0007,969,0009,660,0005,927,00000015,397,0007,037,0003,405,00012,173,0009,067,0006,635,0009,051,000
Misc Debtors8,750,000460,000510,000266,000200,000000734,000595,000605,000282,000395,000215,000410,000
Cash1,107,0001,903,0006,690,0001,003,0001,635,0001,263,000486,000471,00014,052,00018,798,00026,432,0004,248,0004,026,0003,946,0004,075,000
misc current assets0000000313,0000000000
total current assets28,479,00035,753,00025,990,00011,850,0009,214,0005,799,0007,600,0006,077,00032,477,00031,315,00035,403,00021,591,00018,778,00015,315,00017,911,000
total assets36,687,00064,758,00026,246,00046,915,00053,369,00053,858,00068,650,00068,907,000106,521,000108,958,000120,009,000106,240,00096,110,00096,366,00098,140,000
Bank overdraft000000000000000
Bank loan000000004,469,00018,750,0005,229,00018,656,0007,072,0006,164,0006,000,000
Trade Creditors 960,00067,758,000102,000125,000164,000297,0001,452,0003,071,0001,042,0002,950,000852,0001,350,000845,000867,000712,000
Group/Directors Accounts15,197,000033,636,00056,355,00056,749,00006,039,000011,000134,0008,380,00026,625,00022,744,00024,193,00026,662,000
other short term finances0000054,849,000000000000
hp & lease commitments2,938,000091,00089,00036,0000000000000
other current liabilities9,329,0003,150,000703,000310,000214,0000412,0000358,000418,000503,000567,000469,000588,000537,000
total current liabilities28,424,00070,908,00034,532,00056,879,00057,163,00055,627,0007,903,0003,071,0005,880,00022,252,00014,964,00047,198,00031,130,00031,812,00033,911,000
loans00000048,897,00050,087,00042,133,00024,190,00047,443,00029,949,00045,935,00054,173,00058,826,000
hp & lease commitments4,870,0009,089,00056,000147,000295,0000000000000
Accruals and Deferred Income000000000000000
other liabilities000000000000000
provisions000000000000000
total long term liabilities4,870,0009,089,00056,000147,000295,000048,897,00050,087,00042,133,00024,190,00047,443,00029,949,00045,935,00054,173,00058,826,000
total liabilities33,294,00079,997,00034,588,00057,026,00057,458,00055,627,00056,800,00053,158,00048,013,00046,442,00062,407,00077,147,00077,065,00085,985,00092,737,000
net assets3,393,000-15,239,000-8,342,000-10,111,000-4,089,000-1,769,00011,850,00015,749,00058,508,00062,516,00057,602,00029,093,00019,045,00010,381,0005,403,000
total shareholders funds3,393,000-15,239,000-8,342,000-10,111,000-4,089,000-1,769,00011,850,00015,749,00058,508,00062,516,00057,602,00029,093,00019,045,00010,381,0005,403,000
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit18,652,0007,079,0003,687,000-4,767,000-119,000-1,729,000-2,007,000-12,065,000-223,00012,522,00015,980,00012,775,00011,227,0007,755,0001,704,000
Depreciation12,00026,0001,486,0009,171,0002,932,0001,533,000798,00010,558,0007,348,0001,166,0001,894,000899,0003,560,0003,548,0003,927,000
Amortisation15,804,00022,468,0000000000000000
Tax-83,000-9,000-6,000-3,000-7,000-8,0004,000-41,00024,00011,000144,000-305,00015,00036,000141,000
Stock554,000122,000-41,00034,000-358,000126,000317,00000000000
Debtors-7,460,00016,076,0008,494,0003,234,0006,361,000-5,664,0001,504,000-13,132,0005,908,0003,546,000-8,372,0002,591,0003,383,000-2,467,00013,836,000
Creditors-66,798,00067,656,000-23,000-39,000-133,000-1,155,000-1,619,0002,029,000-1,908,0002,098,000-498,000505,000-22,000155,000712,000
Accruals and Deferred Income6,179,0002,447,000393,00096,000214,000-412,000412,000-358,000-60,000-85,000-64,00098,000-119,00051,000537,000
Deferred Taxes & Provisions000000000000000
Cash flow from operations-19,328,00083,469,000-2,916,0001,190,000-3,116,0003,767,000-4,233,00013,255,000-727,00012,166,00025,828,00011,381,00011,278,00014,012,000-6,815,000
Investing Activities
capital expenditure4,553,000-49,595,00031,710,000-117,0002,621,0001,582,000982,000656,000-3,749,0005,797,000-1,851,000-8,216,000159,000-4,370,000-74,280,000
Change in Investments00-1,613,000-36,0001,649,000-9,876,000000000009,876,000
cash flow from investments4,553,000-49,595,00033,323,000-81,000972,00011,458,000982,000656,000-3,749,0005,797,000-1,851,000-8,216,000159,000-4,370,000-84,156,000
Financing Activities
Bank loans0000000-4,469,000-14,281,00013,521,000-13,427,00011,584,000908,000164,0006,000,000
Group/Directors Accounts15,197,000-33,636,000-22,719,000-394,00056,749,000-6,039,0006,039,000-11,000-123,000-8,246,000-18,245,0003,881,000-1,449,000-2,469,00026,662,000
Other Short Term Loans 0000-54,849,00054,849,000000000000
Long term loans00000-48,897,000-1,190,0007,954,00017,943,000-23,253,00017,494,000-15,986,000-8,238,000-4,653,00058,826,000
Hire Purchase and Lease Commitments-1,281,0008,942,000-89,000-95,000331,0000000000000
other long term liabilities000000000000000
share issue0-360,0000000000000007,040,000
interest-662,000-3,285,000-523,000-1,252,000-2,194,000-2,003,441-1,896,000-2,361,000-1,852,000-1,872,000-2,615,000-2,422,000-2,578,000-2,813,000-3,482,000
cash flow from financing13,254,000-28,339,000-23,331,000-1,741,00037,000-2,090,4412,953,0001,113,0001,687,000-19,850,000-16,793,000-2,943,000-11,357,000-9,771,00095,046,000
cash and cash equivalents
cash-796,000-4,787,0005,687,000-632,000372,000777,00015,000-13,581,000-4,746,000-7,634,00022,184,000222,00080,000-129,0004,075,000
overdraft000000000000000
change in cash-796,000-4,787,0005,687,000-632,000372,000777,00015,000-13,581,000-4,746,000-7,634,00022,184,000222,00080,000-129,0004,075,000

solstad offshore uk limited Credit Report and Business Information

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Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Solstad Offshore Uk Limited Competitor Analysis

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Perform a competitor analysis for solstad offshore uk limited by selecting its closest rivals, whether from the TRANSPORTATION AND STORAGE sector, other mega companies, companies in AB10 area or any other competitors across 12 key performance metrics.

solstad offshore uk limited Ownership

SOLSTAD OFFSHORE UK LIMITED group structure

Solstad Offshore Uk Limited has 3 subsidiary companies.

Ultimate parent company

SOLSTAD OPERATIONS HOLDING AS

#0128127

1 parent

SOLSTAD OFFSHORE UK LIMITED

SC091332

3 subsidiaries

SOLSTAD OFFSHORE UK LIMITED Shareholders

den norske nominees limited 100%

solstad offshore uk limited directors

Solstad Offshore Uk Limited currently has 3 directors. The longest serving directors include Mr Graham Dale (Apr 2022) and Mr Gary Cunningham (Feb 2024).

officercountryagestartendrole
Mr Graham DaleScotland68 years Apr 2022- Director
Mr Gary CunninghamUnited Kingdom35 years Feb 2024- Director
Mr Eivind KvilhaugNorway54 years Feb 2024- Director

P&L

December 2023

turnover

108.1m

+34%

operating profit

18.7m

+163%

gross margin

19.5%

+139.98%

turnover

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

Balance Sheet

December 2023

net assets

3.4m

-1.22%

total assets

36.7m

-0.43%

cash

1.1m

-0.42%

net assets

Total assets minus all liabilities

solstad offshore uk limited company details

company number

SC091332

Type

Private limited with Share Capital

industry

50200 - Sea and coastal freight water transport

incorporation date

January 1985

age

39

incorporated

UK

ultimate parent company

SOLSTAD OPERATIONS HOLDING AS

accounts

Full Accounts

last accounts submitted

December 2023

previous names

ondur limited (July 1997)

lorenco limited (February 1985)

accountant

-

auditor

ERNST & YOUNG LLP

address

johnstone house, 52-54 rose street, aberdeen, AB10 1HA

Bank

DEN NORSKE BANK

Legal Advisor

-

solstad offshore uk 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 51 charges/mortgages relating to solstad offshore uk limited. Currently there are 16 open charges and 35 have been satisfied in the past.

charges

solstad offshore uk limited Companies House Filings - See Documents

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