SUBSEA 7 LIMITED
Get an alert when SUBSEA 7 LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-12-01 (in 7mo)
Last made up 2025-11-17
Watchouts
None on the register
Cash
£53K
-96.4% vs 2023
Net assets
£458M
+6.4% vs 2023
Employees
0
Average over period
Profit before tax
£32M
+329.4% vs 2023
Name history
Renamed 2 times since incorporation
- SUBSEA 7 LIMITED 2002-06-18 → present
- DSND SUBSEA (UK) LIMITED 2002-02-05 → 2002-06-18
- INTERCEDE 1757 LIMITED 2001-11-05 → 2002-02-05
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £269,588,000 | £404,203,000 | |
| Operating profit | -£8,943,000 | £28,863,000 | |
| Profit before tax | -£13,756,000 | £31,552,000 | |
| Net profit | -£13,449,000 | £27,343,000 | |
| Cash | £1,484,000 | £53,000 | |
| Total assets less current liabilities | £430,473,000 | £458,022,000 | |
| Net assets | £430,473,000 | £458,022,000 | |
| Equity | £430,473,000 | £458,022,000 | |
| Average employees | 0 | 0 | |
| Wages | — | — |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -3.3% | 7.1% | |
| Net margin | -5.0% | 6.8% | |
| Return on capital employed | -2.1% | 6.3% | |
| Gearing (liabilities / total assets) | 24.0% | 17.8% | |
| Current ratio | 1.35x | 1.75x | |
| Interest cover | -1.94x | 11.38x |
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.
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider that the going concern assumption remains appropriate for the Company. In forming that conclusion, the Directors have taken into consideration the potential completion of the proposed merger with Saipem S.p.A. The Directors consider that there are no significant doubts over the application of the going concern assumption and no disclosable material uncertainties which cast doubt upon the Company's ability to continue as a going concern.”
Group structure
- SUBSEA 7 LIMITED · parent
- Subsea 7 Deep Sea Limited 100%
- Subsea 7 Engineering Limited 100%
- Subsea 7 Pipeline Production Limited 100%
- Subsea 7 i-Tech Limited 100%
- Swagelining Limited 100%
- Pioneer Lining Technology Limited 100%
- Astori Spółka z.o.o 100%
- Subsea 7 i-Tech do Brasil Serviços Ltda 99.9%
- Subsea 7 i-Tech US Inc. 100%
- Subsea 7 i-Tech Mexico S. de R.L. de C.V. 100%
- Sevenseas Contractors S. de R.L. de C.V. 100%
- Subsea 7 Marine LLC 100%
- 4 Subsea AS 100%
- 4 Subsea Astori AS 100%
- 4Subsea UK limited 100%
- 4Subsea Do Brasil Projetos e Servicos de Integridade Subsea Ltda 99.9%
Significant events
- “A gain of £0.4 million resulted in 2024 from unrealised gains associated with the liquidation of the Venezuelan branch. A loss of £0.5 million resulted in 2023 from unrealised losses associated with a renewables project.”
- “On 24 July 2025, Subsea 7 S.A. and Saipem S.p.A. announced a binding merger agreement. Completion is anticipated in H2 2026, subject to shareholder and regulatory approval. Further details are on www.subsea7.com.”
- “The Board of Directors anticipate activity levels in 2025 to be consistent with 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 27 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PEACE, Lorna Helen | Secretary | 2011-10-19 | — | — |
| EL KURD, Hani | Director | 2024-08-01 | Oct 1979 | Jordanian |
| GORDON, John Alexander | Director | 2011-06-01 | Sep 1967 | British |
| RASSOULI, Kaveh | Director | 2022-06-30 | Dec 1979 | British |
| SHARLAND, Graham Christopher | Director | 2013-01-03 | Jun 1961 | British |
| SIMONS, Phillip John | Director | 2013-04-03 | Apr 1966 | British |
| SYME, Kelly | Director | 2025-09-30 | Apr 1980 | British |
| TAME, Jonathan Richard | Director | 2018-04-01 | Aug 1965 | British |
Show 27 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DAVIES, Robin Ashley | Secretary | 2004-05-31 | 2011-06-27 |
| KRISTIANSEN, Magne | Secretary | 2001-12-27 | 2002-06-10 |
| LAWRIE, Douglas George | Secretary | 2002-06-10 | 2004-05-31 |
| TAYLOR, Darren | Secretary | 2011-06-27 | 2011-10-19 |
| MITRE SECRETARIES LIMITED | Corporate Nominee Secretary | 2001-11-05 | 2001-12-27 |
| ABERGEL, Stephane Rene | Director | 2017-04-11 | 2018-03-12 |
| AUNE, Geir | Director | 2001-12-27 | 2002-02-28 |
| CAILLEAUX, Gael Jean Marie | Director | 2011-06-01 | 2014-06-18 |
| DAVIES, Robin Ashley | Director | 2002-06-10 | 2011-06-20 |
| DUNSMORE, Robert Charles | Director | 2011-06-01 | 2013-01-03 |
| ELLIS, Simon David | Director | 2013-01-03 | 2022-06-30 |
| HOWLEY, Simon James | Director | 2001-11-05 | 2001-12-27 |
| KRISTIANSEN, Magne | Director | 2001-12-27 | 2002-06-10 |
| LAWRIE, Douglas George | Director | 2002-06-10 | 2004-05-31 |
| LOWTHER, David | Director | 2018-03-12 | 2020-10-01 |
| MCCONNELL, James | Director | 2002-06-10 | 2011-06-20 |
| MCNEILL, Stephen Anthony | Director | 2009-05-11 | 2018-04-01 |
| MIKAELSEN, Oeyvind | Director | 2011-06-01 | 2015-01-01 |
| MURRAY, Patricia | Director | 2011-06-01 | 2015-07-18 |
| O'HARA, Marie-Louise Frances | Director | 2011-10-19 | 2012-10-14 |
| RICH, Michael William | Nominee Director | 2001-11-05 | 2001-12-27 |
| SMITH, John | Director | 2002-06-10 | 2004-06-30 |
| SORENSEN, Terje | Director | 2002-02-28 | 2002-06-10 |
| STRACHAN, Colin | Director | 2015-07-18 | 2025-09-30 |
| TAYLOR, Darren | Director | 2011-06-01 | 2011-10-19 |
| WISELY, Stephen George | Director | 2015-01-01 | 2024-08-01 |
| WISELY, Stephen George | Director | 2005-06-21 | 2007-10-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Subsea 7 Holdings (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 186 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-13 | CH01 | officers | Change person director company with change date | |
| 2026-03-12 | CH01 | officers | Change person director company with change date | |
| 2026-03-12 | CH01 | officers | Change person director company with change date | |
| 2025-12-02 | CH01 | officers | Change person director company with change date | |
| 2025-11-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-03 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-15 | AA | accounts | Accounts with accounts type full | |
| 2025-01-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-16 | AA | accounts | Accounts with accounts type full | |
| 2024-08-21 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-21 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-27 | AA | accounts | Accounts with accounts type full | |
| 2022-12-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-07 | AA | accounts | Accounts with accounts type full | |
| 2022-07-15 | CH01 | officers | Change person director company with change date | |
| 2022-07-14 | AP01 | officers | Appoint person director company with name date | |
| 2022-07-13 | TM01 | officers | Termination director company with name termination date | |
| 2021-12-20 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+49.9%
£269,588,000 £404,203,000
-
Cash
-96.4%
£1,484,000 £53,000
-
Net assets
+6.4%
£430,473,000 £458,022,000
-
Employees
—
Not reported
-
Operating profit
+422.7%
-£8,943,000 £28,863,000
-
Profit before tax
+329.4%
-£13,756,000 £31,552,000
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