odfjell drilling shetland ltd
odfjell drilling shetland ltd Company Information
Company Number
SC368991
Next Accounts
Sep 2025
Shareholders
odfjell rig iii ltd
Group Structure
View All
Industry
Support activities for petroleum and natural gas extraction
Registered Address
lower ground floor prime view, prime four business park, aberdeen, AB15 8PU
Website
www.odfjelldrilling.comodfjell drilling shetland ltd Estimated Valuation
Pomanda estimates the enterprise value of ODFJELL DRILLING SHETLAND LTD at £144.7m based on a Turnover of £65.7m and 2.2x industry multiple (adjusted for size and gross margin).
odfjell drilling shetland ltd Estimated Valuation
Pomanda estimates the enterprise value of ODFJELL DRILLING SHETLAND LTD at £455m based on an EBITDA of £62.5m and a 7.28x industry multiple (adjusted for size and gross margin).
odfjell drilling shetland ltd Estimated Valuation
Pomanda estimates the enterprise value of ODFJELL DRILLING SHETLAND LTD at £583.8m based on Net Assets of £418.5m and 1.4x industry multiple (adjusted for liquidity).
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Odfjell Drilling Shetland Ltd Overview
Odfjell Drilling Shetland Ltd is a live company located in aberdeen, AB15 8PU with a Companies House number of SC368991. It operates in the support activities for petroleum and natural gas mining sector, SIC Code 09100. Founded in November 2009, it's largest shareholder is odfjell rig iii ltd with a 100% stake. Odfjell Drilling Shetland Ltd is a established, large sized company, Pomanda has estimated its turnover at £65.7m with declining growth in recent years.
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Odfjell Drilling Shetland Ltd Health Check
Pomanda's financial health check has awarded Odfjell Drilling Shetland Ltd a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 2 areas for improvement. Company Health Check FAQs
6 Strong
1 Regular
2 Weak
Size
annual sales of £65.7m, make it larger than the average company (£16.6m)
£65.7m - Odfjell Drilling Shetland Ltd
£16.6m - Industry AVG
Growth
3 year (CAGR) sales growth of -16%, show it is growing at a slower rate (3.4%)
-16% - Odfjell Drilling Shetland Ltd
3.4% - Industry AVG
Production
with a gross margin of 94.8%, this company has a lower cost of product (24.6%)
94.8% - Odfjell Drilling Shetland Ltd
24.6% - Industry AVG
Profitability
an operating margin of 49.5% make it more profitable than the average company (6.7%)
49.5% - Odfjell Drilling Shetland Ltd
6.7% - Industry AVG
Employees
with 299 employees, this is above the industry average (40)
- Odfjell Drilling Shetland Ltd
40 - Industry AVG
Pay Structure
There is insufficient data available for this Key Performance Indicator!
- Odfjell Drilling Shetland Ltd
- - Industry AVG
Efficiency
resulting in sales per employee of £219.7k, this is equally as efficient (£220.2k)
- Odfjell Drilling Shetland Ltd
£220.2k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - Odfjell Drilling Shetland Ltd
- - Industry AVG
Creditor Days
its suppliers are paid after 83 days, this is slower than average (27 days)
83 days - Odfjell Drilling Shetland Ltd
27 days - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Odfjell Drilling Shetland Ltd
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 3 weeks, this is less cash available to meet short term requirements (6 weeks)
3 weeks - Odfjell Drilling Shetland Ltd
6 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 1.3%, this is a lower level of debt than the average (55.2%)
1.3% - Odfjell Drilling Shetland Ltd
55.2% - Industry AVG
ODFJELL DRILLING SHETLAND LTD financials
Odfjell Drilling Shetland Ltd's latest turnover from December 2023 is £65.7 million and the company has net assets of £418.5 million. According to their latest financial statements, we estimate that Odfjell Drilling Shetland Ltd has 299 employees and maintains cash reserves of £208.2 thousand 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 | Nov 2011 | Nov 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 65,682,788 | 66,355,078 | 91,505,362 | 112,143,043 | 111,999,376 | 129,623,411 | 114,588,866 | 118,589,745 | 87,481,298 | 20,424,858 | 6,737,647 | 7,868,936 | ||
| Other Income Or Grants | ||||||||||||||
| Cost Of Sales | 3,425,993 | 3,558,079 | 9,430,657 | 42,330,836 | 34,875,495 | 41,788,503 | 50,223,521 | 99,327,328 | 84,661,850 | 20,425,479 | 6,737,647 | 7,868,936 | ||
| Gross Profit | 62,256,794 | 62,797,000 | 82,074,705 | 69,812,208 | 77,123,881 | 87,834,908 | 64,365,345 | 19,262,417 | 2,819,448 | -621 | ||||
| Admin Expenses | 29,724,961 | 27,958,248 | 28,097,813 | 25,891,713 | 27,348,155 | 32,508,430 | 25,184,121 | 2,358,983 | 7,576 | 13,092 | ||||
| Operating Profit | 32,531,833 | 34,838,752 | 53,976,892 | 43,920,495 | 49,775,726 | 55,326,478 | 39,181,224 | 16,903,434 | 2,811,872 | -13,713 | ||||
| Interest Payable | 1,697,097 | 3,210,682 | 4,664,707 | 8,457,504 | 12,185,667 | 953,281 | 119,071 | 1,088,667 | 778,935 | |||||
| Interest Receivable | 66,211 | 9,478 | 18,861 | 57,205 | 12,161 | 3,149 | 3,249 | 454 | ||||||
| Pre-Tax Profit | 30,900,947 | 31,637,548 | 49,312,185 | 35,481,852 | 37,647,265 | 54,385,358 | 39,065,302 | 15,818,017 | 2,033,391 | -13,713 | -3,004 | -6 | ||
| Tax | 785,734 | -205,381 | -765,256 | -168,876 | -407,130 | -187,368 | -5,456,078 | -411,691 | ||||||
| Profit After Tax | 31,686,680 | 31,432,167 | 48,546,929 | 35,481,852 | 37,478,389 | 53,978,228 | 38,877,935 | 10,361,939 | 1,621,700 | -13,713 | -3,004 | -6 | ||
| Dividends Paid | ||||||||||||||
| Retained Profit | 31,686,680 | 31,432,167 | 48,546,929 | 35,481,852 | 37,478,389 | 53,978,228 | 38,877,935 | 10,361,939 | 1,621,700 | -13,713 | -3,004 | -6 | ||
| Employee Costs | 281,265 | 17,326,000 | 12,823,226 | 14,038,192 | 8,520,175 | |||||||||
| Number Of Employees | 109 | 134 | 124 | 109 | ||||||||||
| EBITDA* | 62,495,586 | 63,386,449 | 81,833,290 | 70,733,135 | 76,253,825 | 86,610,131 | 63,016,200 | 16,903,434 | 2,811,872 | -13,713 |
* 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 | Nov 2011 | Nov 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 399,437,355 | 427,059,582 | 439,666,732 | 465,361,513 | 416,551,219 | 488,878,040 | 487,698,114 | |||||||
| Intangible Assets | ||||||||||||||
| Investments & Other | 785,734 | 1 | 1 | 1 | 1 | |||||||||
| Debtors (Due After 1 year) | 219,423 | 230,765 | 192,259 | 586,015 | 13,113,466 | 17,901,325 | ||||||||
| Total Fixed Assets | 400,223,089 | 427,059,583 | 439,666,733 | 465,580,937 | 416,781,986 | 489,070,301 | 488,284,131 | 13,113,467 | 17,901,325 | |||||
| Stock & work in progress | ||||||||||||||
| Trade Debtors | 6,114,204 | 10,201,714 | 9,200,937 | 19,172,380 | 21,853,472 | 19,015,787 | 19,638,912 | 30,019,963 | 3,636,284 | 812,043 | ||||
| Group Debtors | 23,323,591 | 6,508,285 | 5,278,633 | 1,899,950 | 93,459 | 327,299 | 184,918 | 380 | 10,000 | |||||
| Misc Debtors | 221,183 | 309,885 | 301,370 | 293,701 | 1,291,134 | 1,323,250 | 1,369,230 | 10,127,852 | 16,761,670 | 12,893 | 540 | |||
| Cash | 208,200 | 140,260 | 547,798 | 12,472,808 | 2,236,756 | 1,329,395 | 1,704,884 | 3,510,982 | 5,923,191 | 5,118,016 | 12,084 | 764,718 | ||
| misc current assets | 1,090,323 | |||||||||||||
| total current assets | 23,752,974 | 13,072,636 | 16,329,515 | 24,957,720 | 22,809,866 | 24,833,417 | 22,274,820 | 33,278,127 | 52,704,824 | 8,767,193 | 824,667 | 774,718 | ||
| total assets | 423,976,063 | 440,132,219 | 455,996,248 | 490,538,658 | 439,591,852 | 513,903,718 | 510,558,950 | 46,391,593 | 70,606,149 | 8,767,193 | 824,667 | 774,718 | ||
| Bank overdraft | ||||||||||||||
| Bank loan | ||||||||||||||
| Trade Creditors | 788,082 | 231,867 | 134,188 | 1,030,825 | 5,594,822 | 1,522,739 | 1,932,343 | 898,985 | 1,911,172 | 35,462 | 3,240 | |||
| Group/Directors Accounts | 2,048,002 | 13,729,359 | 67,336,279 | 71,391,730 | 53,620,451 | 62,048,009 | 2,327,762 | 29,468,346 | 59,991,902 | 8,538,623 | 814,437 | 764,724 | ||
| other short term finances | ||||||||||||||
| hp & lease commitments | ||||||||||||||
| other current liabilities | 45,352 | 31,595 | 1,076,768 | 265,804 | 3,330,091 | 1,362,185 | 929,952 | 3,796,873 | 7,157,645 | |||||
| total current liabilities | 2,881,436 | 13,992,822 | 68,547,235 | 72,688,359 | 62,545,365 | 64,932,933 | 5,190,057 | 34,164,203 | 69,060,719 | 8,574,085 | 817,677 | 764,724 | ||
| loans | 2,622,815 | 39,354,265 | 32,737,983 | 105,278,625 | 129,671,074 | 210,009,779 | 442,548,854 | |||||||
| hp & lease commitments | ||||||||||||||
| Accruals and Deferred Income | ||||||||||||||
| other liabilities | ||||||||||||||
| provisions | ||||||||||||||
| total long term liabilities | 2,622,815 | 39,354,265 | 32,737,983 | 105,278,626 | 129,671,075 | 210,009,780 | 442,548,854 | |||||||
| total liabilities | 5,504,251 | 53,347,087 | 101,285,218 | 177,966,985 | 192,216,439 | 274,942,713 | 447,738,912 | 34,164,203 | 69,060,719 | 8,574,085 | 817,677 | 764,724 | ||
| net assets | 418,471,812 | 386,785,132 | 354,711,030 | 312,571,673 | 247,375,413 | 238,961,005 | 62,820,038 | 12,227,390 | 1,545,430 | 193,108 | 6,990 | 9,994 | ||
| total shareholders funds | 418,471,812 | 386,785,132 | 354,711,030 | 312,571,673 | 247,375,413 | 238,961,005 | 62,820,038 | 12,227,390 | 1,545,430 | 193,108 | 6,990 | 9,994 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Nov 2011 | Nov 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 32,531,833 | 34,838,752 | 53,976,892 | 43,920,495 | 49,775,726 | 55,326,478 | 39,181,224 | 16,903,434 | 2,811,872 | -13,713 | ||||
| Depreciation | 29,963,753 | 28,547,697 | 27,856,398 | 26,812,641 | 26,478,099 | 31,283,654 | 23,834,977 | |||||||
| Amortisation | ||||||||||||||
| Tax | 785,734 | -205,381 | -765,256 | -168,876 | -407,130 | -187,368 | -5,456,078 | -411,691 | ||||||
| Stock | ||||||||||||||
| Debtors | 10,612,399 | -2,849,342 | 4,167,705 | -9,173,726 | -2,908,543 | 2,540,331 | -21,724,661 | -21,802,347 | 61,033,781 | 2,836,594 | 802,583 | 10,000 | ||
| Creditors | 556,214 | 97,679 | -896,637 | -4,563,997 | 4,072,083 | -409,603 | 1,033,358 | -1,012,187 | 1,875,710 | 32,222 | 3,240 | |||
| Accruals and Deferred Income | 13,757 | -1,045,173 | 810,964 | -3,064,287 | 1,967,906 | 432,233 | -2,866,921 | -3,360,772 | 7,157,645 | |||||
| Deferred Taxes & Provisions | ||||||||||||||
| Cash flow from operations | 53,238,892 | 65,082,916 | 76,814,656 | 72,278,578 | 85,033,481 | 83,685,301 | 82,719,931 | 28,876,744 | -49,600,245 | -2,818,085 | ||||
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 785,734 | -1 | 1 | |||||||||||
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | ||||||||||||||
| Group/Directors Accounts | -11,681,357 | -53,606,920 | -4,055,451 | 17,771,279 | -8,427,558 | 59,720,247 | -27,140,583 | -30,523,556 | 51,453,279 | 7,724,186 | 49,713 | 764,724 | ||
| Other Short Term Loans | ||||||||||||||
| Long term loans | -36,731,450 | 6,616,282 | -72,540,642 | -24,392,449 | -80,338,705 | -232,539,075 | 442,548,854 | |||||||
| Hire Purchase and Lease Commitments | ||||||||||||||
| other long term liabilities | ||||||||||||||
| share issue | ||||||||||||||
| interest | -1,630,886 | -3,201,204 | -4,664,707 | -8,438,643 | -12,128,462 | -941,120 | -115,922 | -1,085,418 | -778,481 | |||||
| cash flow from financing | -50,043,693 | -49,549,907 | -87,668,372 | 14,654,595 | -129,958,706 | -51,597,209 | 427,007,062 | -31,288,953 | 50,405,420 | 7,924,017 | 49,713 | 774,724 | ||
| cash and cash equivalents | ||||||||||||||
| cash | 67,939 | -407,537 | -11,925,010 | 10,236,052 | 907,361 | -375,489 | -1,806,098 | -2,412,209 | 805,175 | 5,105,932 | -752,634 | 764,718 | ||
| overdraft | ||||||||||||||
| change in cash | 67,939 | -407,537 | -11,925,010 | 10,236,052 | 907,361 | -375,489 | -1,806,098 | -2,412,209 | 805,175 | 5,105,932 | -752,634 | 764,718 |
odfjell drilling shetland ltd Credit Report and Business Information
Odfjell Drilling Shetland Ltd Competitor Analysis
Perform a competitor analysis for odfjell drilling shetland ltd by selecting its closest rivals, whether from the MINING AND QUARRYING sector, other large companies, companies in AB15 area or any other competitors across 12 key performance metrics.
odfjell drilling shetland ltd Ownership
ODFJELL DRILLING SHETLAND LTD group structure
Odfjell Drilling Shetland Ltd has no subsidiary companies.
Ultimate parent company
ODFJELL DRILLING LTD
#0043638
ODFJELL RIG III LTD
#0080259
2 parents
ODFJELL DRILLING SHETLAND LTD
SC368991
odfjell drilling shetland ltd directors
Odfjell Drilling Shetland Ltd currently has 5 directors. The longest serving directors include Ms Helene Odfjell (Mar 2017) and Mr Kjetil Gjersdal (Mar 2022).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Ms Helene Odfjell | Scotland | 59 years | Mar 2017 | - | Director |
| Mr Kjetil Gjersdal | England | 54 years | Mar 2022 | - | Director |
| Mr Erik Askvik | Malta | 63 years | Nov 2023 | - | Director |
| Mr Oivind Haraldsen | Malta | 65 years | Nov 2023 | - | Director |
| Mr John Carbone | Malta | 49 years | Nov 2023 | - | Director |
P&L
December 2023turnover
65.7m
-1%
operating profit
32.5m
-7%
gross margin
94.8%
+0.15%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
418.5m
+0.08%
total assets
424m
-0.04%
cash
208.2k
+0.48%
net assets
Total assets minus all liabilities
odfjell drilling shetland ltd company details
company number
SC368991
Type
Private limited with Share Capital
industry
09100 - Support activities for petroleum and natural gas extraction
incorporation date
November 2009
age
16
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
odfjell drilling caspian limited (December 2011)
pacific shelf 1598 limited (January 2010)
accountant
-
auditor
CROWE U.K. LLP
address
lower ground floor prime view, prime four business park, aberdeen, AB15 8PU
Bank
DET NORSKE BANK ASA
Legal Advisor
BURNESS PAULL LLP
odfjell drilling shetland ltd 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 17 charges/mortgages relating to odfjell drilling shetland ltd. Currently there are 7 open charges and 10 have been satisfied in the past.
odfjell drilling shetland ltd 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.
Click to start generating capital raising & share issue transactions for ODFJELL DRILLING SHETLAND LTD. This can take several minutes, an email will notify you when this has completed.
odfjell drilling shetland ltd Companies House Filings - See Documents
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