NEC EUROPE LTD

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding net current liabilities of €154.8 million as at 31 March 2025, the directors have prepared these financial statements on a going concern basis, and consider it appropriate for the following reasons: The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that, in both the base case and reasonably possible downsides, the Company will continue to hold, through support from group companies, sufficient cash balances to help it continue to meet its obligations with third parties as they fall due. This assessment is also dependent on its ultimate parent company, NEC Corporation, not seeking repayment of the amounts currently due to the group, which at 31 March 2025 amounted to €90.7m. The company has an intercompany loan facility in place with a sister entity, NEC Capital (UK) Plc. NEC Capital (UK) Plc is a group treasury business which is ultimately funded by NEC Corporation (the ultimate parent company). As at 31 March 2025, the loan facility that the Company could draw down was €111.4 million (for which the company had drawn down €65.3 million). This facility matured in May 2025 and at that time was renewed for a total of €120.9 million with a due date of May 2026. As at the date of approval of these financial statements, €12 million of this facility remains undrawn and available. The cash flow forecast indicate that the company will not have sufficient cash resources to settle the intercompany loan facility in May 2026 and therefore the Company is dependent on NEC Capital (UK) Plc renewing the facility in May 2026 for a further year at a similar amount to the current draw down limit. The Directors have no reason to believe that the facility would not be extended beyond May 2026. In addition, written confirmation has been provided to the Company's directors by NEC Corporation, that, if required, NEC Corporation intends to provide additional financial support sufficient to enable the Company and its subsidiaries to operate and meet its liabilities until at least 31 March 2027. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so having considered the ability and intent of NEC Corporation to provide financial support. The directors therefore have sufficient assurance that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing the annual financial statements.”

Group structure

1. NEC EUROPE LTD · parent
   1. NEC (UK) Ltd. 100% · United Kingdom · sale and distribution of Computer and Communication products and other electronic devices
   2. NEC Deutschland GmbH 100% · Germany · sale and distribution of Computer and Communication products and other electronic devices
   3. NEC France S.A.S. 100% · France · sale and distribution of Computer and Communication products and other electronic devices
   4. NEC Scandinavia AB 100% · Sweden · sale and distribution of Computer and Communication products and other electronic devices
   5. NEC Iberica S.L. 100% · Spain · sale and distribution of Computer and Communication products and other electronic devices
   6. NECPortugal Telecomunicações e Sistemas, S.A. 100% · Portugal · sale and distribution of Computer and Communication products and other electronic devices
   7. NEC Eastern Europe KFT. 100% · Hungary · sale and distribution of Computer and Communication products and other electronic devices
   8. NEC Nederland B.V. 100% · Netherlands · sale and distribution of Computer and Communication products and other electronic devices
   9. NEC Laboratories Europe GmbH 100% · Germany · sale and distribution of Computer and Communication products and other electronic devices
   10. NEC West Africa Limited 10% · Nigeria · sale and distribution of Computer and Communication products and other electronic devices
   11. NEC Telecommunication and Technology Limited 98.64% · Turkey · sale and distribution of Computer and Communication products and other electronic devices
   12. CJSC NEC Neva Communications Systems 90% · Russia · sale and distribution of Computer and Communication products and other electronic devices
   13. XON Holdings (Pty) Ltd 59.99% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   14. NEC XON Consulting (Pty) Ltd 100% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   15. NEC XON Infrastructure (Pty) Ltd 100% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   16. NEC XON Coastal (Pty) Ltd 100% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   17. NEC XON KwaZulu Natal (Pty) Ltd 100% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   18. NEC XON Converged Communications (Pty) Ltd 100% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   19. NEC XON Systems Namibia (Pty) Ltd 100% · Namibia · sale and distribution of Computer and Communication products and other electronic devices
   20. NEC XON Business Solutions (Pty) Ltd 80% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   21. NEC XON Alternative Energy (Pty) Ltd 62% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   22. NEC XON Retail Solutions (Pty) Ltd 51% · South Africa · sale and distribution of Computer and Communication products and other electronic devices
   23. NEC Africa (Pty) Ltd 100% · South Africa · sale and distribution of Computer and Communication products and other electronic devices

Significant events

• “In May 2025, the loan facility in place with a sister company, NEC Capital (UK) Plc, which matured on this date was renewed for a total of £120.9 million with a due date of May 2026.”
• “Following the announcement and the decision to phase out the Unified Communications business in Europe, Com.Tel expressed interest in acquiring shares in NEC Italia and NEC Nederland. The share purchase transaction was finalized on 18 July 2025.”
• “The company has recognised a provision of approximately €4.2 million relating to doubtful receivables from a technology customer. This decision was based on a high likelihood that the customer may enter administration in the coming months.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

4

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -71.2%

  £25,610,264 → £7,369,972

• Cash

  +413.5%

  £122,226 → £627,601

• Net assets

  -12.1%

  -£87,604,889 → -£98,235,090

• Employees

  -22.2%

  162 → 126

• Operating profit

  -545%

  £2,671,637 → -£11,888,870

• Profit before tax

  +65.6%

  -£32,229,542 → -£11,072,295

• Wages

  -5%

  £15,328,537 → £14,566,574

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers