Ithaca Energy (uk) Limited

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ithaca energy (uk) limited Company Information

Live

MatureMegaDeclining

Company Number

SC272009

Next Accounts

Sep 2025

Industry

Extraction of crude petroleum

Directors

Iain Lewis

Julie McAteer

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Shareholders

comptonia nominees limited (as nominee for bnp paribas acting as security trustee)

Group Structure

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Contact

Registered Address

13 queen's road, aberdeen, AB15 4YL

Website

www.ithacaenergy.com

ithaca energy (uk) limited Estimated Valuation

£2.3b

Pomanda estimates the enterprise value of ITHACA ENERGY (UK) LIMITED at £2.3b based on an EBITDA of £466.3m and a 4.86x industry multiple (adjusted for size and gross margin).

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Ithaca Energy (uk) Limited is a live company located in aberdeen, AB15 4YL with a Companies House number of SC272009. It operates in the extraction of crude petroleum sector, SIC Code 06100. Founded in August 2004, it's largest shareholder is comptonia nominees limited (as nominee for bnp paribas acting as security trustee) with a 100% stake. Ithaca Energy (uk) Limited is a mature, mega sized company, Pomanda has estimated its turnover at £635.1m with declining growth in recent years.

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

Health Rating4out of 5

5 Strong

3 Regular

4 Weak

Size

annual sales of £635.1m, make it larger than the average company (£57.8m)

Growth

3 year (CAGR) sales growth of -7%, show it is growing at a slower rate (13.3%)

EXPORT

Ithaca Energy (Uk) Limited's latest turnover from December 2023 is £635.1 million and the company has net assets of -£519.5 million. According to their latest financial statements, Ithaca Energy (Uk) Limited has 592 employees and maintains cash reserves of £127.3 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	635,091,690	730,252,436	645,120,078	792,905,231	285,798,856	204,019,867	157,601,538	94,217,164	121,559,056	178,561,722	149,401,862	97,283,305	77,592,581	83,889,613	70,903,139
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	342,105,425	590,365,227	473,553,813	529,600,320	248,196,156	156,500,040	151,567,732	76,560,289	134,077,293	201,820,750	129,648,115	76,260,773	56,866,720	37,953,685	30,136,723
Gross Profit	292,986,266	139,887,209	171,566,265	263,304,912	37,602,700	47,519,827	6,033,806	17,656,875	-12,518,237	-23,259,027	19,753,747	21,022,531	20,725,861	45,935,928	40,766,416
Admin Expenses	29,290,264	225,283,511	-56,904,666	185,713,652	28,566,608	-30,621,645	7,301,130	31,216,549	249,842,465	188,900,680	39,329,901	4,843,019	1,986,567	2,983,175	34,364,208
Operating Profit	263,696,002	-85,396,302	228,470,931	77,591,260	9,036,092	78,141,472	-1,267,324	-13,559,674	-262,360,702	-212,159,707	-19,576,154	16,179,512	18,739,294	42,952,753	6,402,208
Interest Payable	176,379,959	156,788,153	153,640,333	219,107,381	90,805,458	45,424,978	38,092,606	26,872,501	28,846,034	20,064,127	8,802,403	2,876,754	920,574	346,433	440,336
Interest Receivable	90,757,308	22,709,276	8,894	34,638	0	981,334	0	43,832	17,072	11,451	33,009	112,656	175,611	0	0
Pre-Tax Profit	211,111,793	-219,037,060	74,473,195	-141,913,136	-84,306,045	21,981,094	-58,993,031	-71,463,396	-170,651,094	-97,970,074	-36,082,393	18,550,850	19,876,148	36,875,272	6,186,533
Tax	-44,077,342	-351,187,754	-62,787,256	18,872,014	11,847,858	-10,129,776	41,018,185	40,772,070	182,736,303	133,266,662	11,288,704	27,110,318	1,954,526	2,249,953	-51,993
Profit After Tax	167,034,451	-570,224,814	11,685,938	-123,041,123	-72,458,187	11,851,318	-17,974,846	-30,691,326	12,085,209	35,296,588	-24,793,689	45,661,167	21,830,673	39,125,225	6,134,540
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	167,034,451	-570,224,814	11,685,938	-123,041,123	-72,458,187	11,851,318	-17,974,846	-30,691,326	12,085,209	35,296,588	-24,793,689	45,661,167	21,830,673	39,125,225	6,134,540
Employee Costs	80,702,831	72,196,731	54,651,088	83,309,353	5,552,377	6,878,154	9,546,583	8,631,959	12,297,067	10,416,826	10,869,479	7,578,183	4,761,846	4,573,167	4,531,741
Number Of Employees	592	519	517	75	35	36	37	36	40	40	38	36	29	24	181
EBITDA*	466,343,129	220,622,267	492,333,630	366,756,373	145,262,616	164,680,766	-1,267,324	14,067,210	19,455,999	10,221,391	26,660,065	34,306,205	36,882,741	42,952,753	40,111,689

* 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	4,306,153,610	4,498,711,732	1,601,816,123	4,451,490,363	3,930,126,174	1,149,653,128	945,310,422	597,978,314	804,223,964	872,281,090	454,202,152	330,384,757	320,850,946	171,845,781	131,892,290
Intangible Assets	48,499,962	476,140,566	72,723,377	582,437,161	486,455,399	177,364,416	144,685,572	137,229,314	126,683,998	46,347,049	30,924,936	27,110,933	606,938	611,535	0
Investments & Other	2,418,084,093	2,547,218,598	2,661,755,478	2,407,005,950	2,171,437,059	211,283,345	53,262,036	250,091,510	51,596,306	153,873,578	19,795,339	18,458,507	18,475,568	0	0
Debtors (Due After 1 year)	1,840,000,767	587,353,640	194,021,994	216,938,449	1,960,093	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	4,354,653,571	4,974,852,298	4,530,316,973	5,033,927,524	4,416,581,572	1,327,017,543	1,089,995,994	985,299,139	930,907,962	918,628,139	485,127,087	357,495,690	321,457,884	172,457,316	131,892,291
Stock & work in progress	8,272,845	45,945,676	109,518,881	54,590,993	18,805,017	29,252,583	23,400,624	16,714,857	14,737,699	12,474,998	1,808,939	8,681,359	4,137,654	0	0
Trade Debtors	21,452,467	51,041,970	18,732,918	14,320,988	27,519,073	42,351,999	122,585,116	125,324,516	166,034,456	175,135,507	171,828,745	87,544,324	49,054,162	58,008,319	31,977,020
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,681,044
Misc Debtors	72,243,535	106,500,422	98,319,721	52,700,950	23,454,372	1,552,511	596,811	997,385	11,899,736	13,511,718	11,637,287	19,006,402	0	0	717,632
Cash	127,289,956	182,313,358	36,929,732	671,462	6,651,995	13,816,390	22,053,993	20,631,344	7,945,056	12,975,036	32,366,805	16,617,212	54,154,907	32,641,708	22,322,999
misc current assets	50,880,074	115,750,786	4,043,018	52,899,014	66,393,046	24,067,131	915,645	8,852,661	98,468,881	115,092,755	3,365,683	5,079,414	15,586,912	11,578,196	0
total current assets	280,138,878	501,552,214	267,544,271	175,183,409	142,823,504	111,040,615	169,552,191	172,520,763	299,085,830	329,190,015	221,007,460	136,928,712	122,933,637	102,228,224	65,698,697
total assets	4,634,792,449	5,476,404,512	4,797,861,244	5,209,110,933	4,559,405,076	1,438,058,158	1,259,548,185	1,157,819,902	1,229,993,792	1,247,818,154	706,134,547	494,424,402	444,391,521	274,685,540	197,590,988
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	7,379,728	9,564,183	64,658,365	38,377,298	3,007,480,194	369,920,692	76,676,280	59,265,611	80,671,271	105,331,705	62,895,623	15,214,233	13,007,579	11,009,499	198,482,573
Group/Directors Accounts	0	1	3,433,143,851	0	0	0	1	173,411,258	1	0	0	1	0	0	0
other short term finances	81,242,998	184,261,490	40,273,307	0	0	0	0	0	1,427,906	0	0	0	0	0	0
hp & lease commitments	15,267,398	31,947,364	2,596,425	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	4,151,647,355	3,898,265,937	568,853,400	3,670,820,676	0	0	392,658,013	111,249,615	261,912,927	265,043,132	193,912,324	325,657,472	293,825,250	202,155,582	0
total current liabilities	4,255,537,482	4,124,038,978	4,109,525,350	3,709,197,975	3,007,480,194	369,920,692	469,334,295	343,926,484	344,012,106	370,374,838	256,807,949	340,871,706	306,832,830	213,165,084	198,482,573
loans	146,466,660	909,090,768	283,011,239	1,299,969,801	1,551,167,106	1,175,422,573	967,444,523	477,693,017	1,050,584,355	1,192,276,508	534,175,083	2,265,450	4,569,596	6,284,223	0
hp & lease commitments	0	0	0	0	0	21,741,568	22,678,042	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	825,504,488	1,018,071,050	661,625,293	694,131,805	571,203,785	352,386,445	200,022,430	216,328,821	210,616,172	148,042,598	58,166,633	31,343,880	33,946,638	22,740,423	1,744,656
provisions	0	1,135,913,450	84,448,936	393,322,674	313,550,468	0	0	0	0	0	71,475,538	37,032,750	91,337,728	8,849,568	0
total long term liabilities	898,737,819	2,040,573,160	1,029,085,469	1,551,274,535	1,505,231,807	940,097,732	693,769,927	694,021,839	735,984,789	744,404,916	364,786,426	50,992,982	82,469,036	31,666,356	6,851,531
total liabilities	5,154,275,301	6,164,612,138	5,138,610,819	5,260,472,510	4,512,712,001	1,310,018,424	1,163,104,222	1,037,948,324	1,079,996,895	1,114,779,754	621,594,375	391,864,688	389,301,866	244,831,440	205,334,104
net assets	-519,482,852	-688,207,626	-340,749,575	-51,361,577	46,693,075	128,039,734	96,443,963	119,871,578	149,996,896	133,038,400	84,540,172	102,559,714	55,089,655	29,854,100	-7,743,116
total shareholders funds	-519,482,851	-688,207,627	-340,749,575	-51,361,577	46,693,075	128,039,734	96,443,964	119,871,578	149,996,896	133,038,400	84,540,173	102,559,714	55,089,654	29,854,101	-7,743,116

	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	263,696,002	-85,396,302	228,470,931	77,591,260	9,036,092	78,141,472	-1,267,324	-13,559,674	-262,360,702	-212,159,707	-19,576,154	16,179,512	18,739,294	42,952,753	6,402,208
Depreciation	202,647,127	306,018,568	263,862,699	289,165,112	136,136,297	86,539,293	0	27,626,884	281,816,700	222,381,098	46,236,218	18,126,693	18,143,447	0	33,709,481
Amortisation	0	0	0	0	90,228	0	0	0	0	0	0	0	0	0	0
Tax	-44,077,342	-351,187,754	-62,787,256	18,872,014	11,847,858	-10,129,776	41,018,185	40,772,070	182,736,303	133,266,662	11,288,704	27,110,318	1,954,526	2,249,953	-51,993
Stock	-37,672,831	-63,573,205	54,927,888	35,785,976	-10,447,566	5,851,959	6,685,767	1,977,158	2,262,701	10,666,059	-6,872,420	4,543,705	4,137,654	0	0
Debtors	1,188,800,737	433,821,398	27,114,247	231,026,850	9,029,027	-79,277,417	-3,139,973	-51,612,292	-10,713,032	5,181,192	76,915,306	57,496,564	-8,954,157	14,632,621	43,375,698
Creditors	-2,184,455	-55,094,182	26,281,067	-2,969,102,895	2,637,559,502	293,244,412	17,410,669	-21,405,661	-24,660,434	42,436,082	47,681,390	2,206,654	1,998,080	-187,473,074	198,482,573
Accruals and Deferred Income	253,381,418	3,329,412,537	-3,101,967,276	3,670,820,676	0	-392,658,013	281,408,398	-150,663,312	-3,130,205	71,130,808	-131,745,148	31,832,222	91,669,668	202,155,582	0
Deferred Taxes & Provisions	-1,135,913,450	1,051,464,514	-308,873,738	79,772,206	313,550,468	0	0	0	0	-71,475,538	34,442,788	-54,304,978	82,488,160	8,849,568	0
Cash flow from operations	-1,613,578,606	3,824,969,188	-3,037,055,708	900,305,547	3,109,638,984	128,562,846	335,024,134	-67,594,559	182,851,993	169,732,154	-81,715,088	-20,889,848	219,809,678	54,102,161	195,166,571
Investing Activities
capital expenditure	417,551,600	-3,606,331,367	3,095,525,326	-906,511,064	-3,225,790,554	-323,560,843	-354,788,366	168,073,450	-294,096,523	-655,882,150	-173,867,616	-54,164,499	-167,144,015	-40,565,026	-165,601,771
Change in Investments	-129,134,505	-114,536,880	254,749,528	235,568,891	1,960,153,714	158,021,309	-196,829,474	198,495,204	-102,277,272	134,078,239	1,336,832	-17,061	18,475,568	0	0
cash flow from investments	546,686,105	-3,491,794,487	2,840,775,798	-1,142,079,955	-5,185,944,268	-481,582,152	-157,958,892	-30,421,754	-191,819,251	-789,960,389	-175,204,448	-54,147,438	-185,619,583	-40,565,026	-165,601,771
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-1	-3,433,143,850	3,433,143,850	0	0	-1	-173,411,257	173,411,257	0	0	0	0	0	0	0
Other Short Term Loans	-103,018,492	143,988,183	40,273,307	0	0	0	0	-1,427,906	1,427,906	0	0	0	0	0	0
Long term loans	-762,624,108	626,079,529	-1,016,958,562	-251,197,305	375,744,533	207,978,050	489,751,506	-572,891,338	-141,692,153	658,101,425	531,909,633	-2,304,146	-1,714,627	6,284,223	0
Hire Purchase and Lease Commitments	-16,679,966	29,350,939	2,596,425	0	-21,741,568	-936,474	22,678,042	0	0	0	0	0	0	0	0
other long term liabilities	-192,566,562	356,445,757	-32,506,512	122,928,020	218,817,340	152,364,015	-16,306,391	5,712,649	62,573,574	89,875,965	26,822,753	-2,602,758	11,206,215	20,995,767	1,744,656
share issue	1,690,325	222,766,763	-301,073,936	24,986,470	-8,888,472	19,744,452	-5,452,768	566,008	4,873,287	13,201,639	6,774,148	1,808,893	3,404,881	-1,528,009	-13,877,656
interest	-85,622,651	-134,078,877	-153,631,439	-219,072,743	-90,805,458	-44,443,644	-38,092,606	-26,828,669	-28,828,962	-20,052,676	-8,769,394	-2,764,098	-744,963	-346,433	-440,336
cash flow from financing	-1,158,821,455	-2,188,591,556	1,971,843,133	-322,355,558	473,126,375	334,706,398	279,166,526	-421,457,999	-101,646,348	741,126,353	556,737,140	-5,862,109	12,151,506	25,405,548	-12,573,336
cash and cash equivalents
cash	-55,023,402	145,383,626	36,258,270	-5,980,533	-7,164,395	-8,237,603	1,422,649	12,686,288	-5,029,980	-19,391,769	15,749,593	-37,537,695	21,513,199	10,318,709	22,322,999
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-55,023,402	145,383,626	36,258,270	-5,980,533	-7,164,395	-8,237,603	1,422,649	12,686,288	-5,029,980	-19,391,769	15,749,593	-37,537,695	21,513,199	10,318,709	22,322,999

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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ITHACA ENERGY (UK) LIMITED group structure

Ithaca Energy (Uk) Limited has 3 subsidiary companies.

Ultimate parent company

ITHACA ENERGY (UK) LIMITED

SC272009

3 subsidiaries

ITHACA SPL LIMITED

01275469

ITHACA MA LIMITED

03947050

ITHACA OIL AND GAS LIMITED

01546623

ITHACA ENERGY (UK) LIMITED Shareholders

comptonia nominees limited (as nominee for bnp paribas acting as security trustee)

100%

Ithaca Energy (Uk) Limited currently has 5 directors. The longest serving directors include Mr Iain Lewis (Feb 2023) and Mrs Julie McAteer (May 2024).

officer	country	age	start	end	role
Mr Iain Lewis	Scotland	47 years	Feb 2023	-	Director
Mrs Julie McAteer	Scotland	55 years	May 2024	-	Director
Mrs Julie McAteer	Scotland	55 years	May 2024	-	Director
Mr Yaniv Friedman	England	50 years	Jul 2024	-	Director
Mr Luciano Vasques	United Kingdom	61 years	Oct 2024	-	Director

P&L

December 2023

turnover

635.1m

-13%

operating profit

263.7m

-409%

gross margin

46.2%

+140.83%

turnover

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

Balance Sheet

December 2023

net assets

-519.5m

-0.25%

total assets

4.6b

-0.15%

cash

127.3m

-0.3%

net assets

Total assets minus all liabilities

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company number

SC272009

Type

Private limited with Share Capital

industry

06100 - Extraction of crude petroleum

incorporation date

August 2004

ultimate parent company

None

previous names

ledge 816 limited (September 2004)

address

13 queen's road, aberdeen, AB15 4YL

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 36 charges/mortgages relating to ithaca energy (uk) limited. Currently there are 16 open charges and 20 have been satisfied in the past.

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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ithaca energy (uk) limited Company Information

ithaca energy (uk) limited Estimated Valuation

ithaca energy (uk) limited Estimated Valuation

ithaca energy (uk) limited Estimated Valuation

Ithaca Energy (uk) Limited Overview

Ithaca Energy (uk) Limited Health Check

ITHACA ENERGY (UK) LIMITED financials

ithaca energy (uk) limited Credit Report and Business Information

Ithaca Energy (uk) Limited Competitor Analysis

ithaca energy (uk) limited Ownership

ithaca energy (uk) limited directors

ithaca energy (uk) limited company details

ithaca energy (uk) limited Charges & Mortgages

ithaca energy (uk) limited Capital Raised & Share Issues BETA

ithaca energy (uk) limited Companies House Filings - See Documents