SUBSEA 7 INTERNATIONAL HOLDINGS (UK) LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-09-17 (in 4mo)
Last made up 2025-09-03
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
£6B
+22.7% vs 2023
Employees
0
Average over period
Profit before tax
£1B
+23.6% vs 2023
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | £836,587,843 | £1,038,605,634 | |
| Profit before tax | £830,216,457 | £1,025,933,284 | |
| Net profit | £831,727,205 | £1,029,091,179 | |
| Cash | — | — | |
| Total assets less current liabilities | £4,531,234,248 | £5,560,325,426 | |
| Net assets | £4,531,234,248 | £5,560,325,426 | |
| Equity | £4,531,234,248 | £5,560,325,426 | |
| 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 |
|---|---|---|---|
| Return on capital employed | 18.5% | 18.7% | |
| Gearing (liabilities / total assets) | 2.9% | 0.0% | |
| Current ratio | -0.01x | — | |
| Interest cover | 116.14x | 85.21x |
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 combination 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 INTERNATIONAL HOLDINGS (UK) LIMITED · parent
- Acergy B.V. 100%
- Acergy France S.A.S. 100%
- Subsea 7 Blue Space Limited 100%
- Subsea 7 Chartering (UK) Limited 100%
- Subsea 7 Crewing Limited 100%
- Subsea 7 Equatorial Guinea S.A. 65%
- Subsea 7 Finance (UK) PLC 100%
- Subsea 7 Holdings (UK) Limited 100%
- Subsea 7 International Contracting Limited 100%
- Subsea 7 Luanda Ltd 100%
- Subsea 7 Middle East FZ-LLC 100%
- Subsea 7 Offshore Resources (UK) Limited 100%
- Subsea 7 Treasury (UK) Limited 100%
- Subsea 7 West Africa Contracting Limited 100%
- Subsea Seven Doha Oil & Gas Services and Trading LLC 100%
- Xodus Group (Holdings) Limited 100%
- 4Subsea AS 100%
- 4Subsea Astori AS 100%
- 4Subsea Do Brasil Projetos e Servicos de Integridade Subsea Ltda 100%
- 4Subsea UK Limited 100%
- Aquarius Solutions Inc. 100%
- Astori Spółka z.o.o 100%
- Evolv Energies Limited 100%
- Belmet 7 Limited 49%
- Comex Saudi Arabia Limited 50%
- Eidesvik Seven AS 50%
- Eidesvik Seven Chartering AS 50%
- Marinza S.A. 100%
- ETPM (Malaysia) Sdn Bhd 75%
- ETPM Saudi Arabia Limited 50%
- Global Oceon Engineers Nigeria Limited 40%
- Globestar Engineering Company (Nigeria) Limited 98.84%
- GO FZE 40%
- Nautilus Floating Solutions S. L. 59.12%
- Naviera Subsea 7 S. de R.L. de C.V. 49%
- Nigerstar 7 FZE 100%
- Nigerstar 7 Limited 100%
- Ocean Geo Solutions, Inc. 100%
- OHT Alfa Lift AS 72.42%
- OneSubsea Investments UK Ltd 10%
- OneSubsea LLC 10%
- OneSubsea Processing AS 10%
- Pelagic Nigeria Limited 100%
- Pioneer Lining Technology Limited 100%
- PT Subsea 7 Indonesia 94.99%
- PT. Subsea 7 Manufaktur Indonesia 100%
- Seaway 7 AS 72.4%
- Seaway 7 Chartering AS 72.42%
- Seaway 7 Denmark A/S 72.42%
- Seaway 7 Engineering B.V. 72.42%
- Seaway 7 Germany GmbH 72.42%
- Seaway 7 Heavy Transport AS 72.42%
- Seaway 7 Holding NL B.V. 72.42%
- Seaway 7 Management AS 72.42%
- Seaway 7 Norway AS 72.42%
- Seaway 7 Offshore Contractors B.V. 72.42%
- Seaway 7 Offshore Crew B.V. 72.42%
- Seaway 7 Offshore Installation AS 72.42%
- Seaway 7 Renewables UK Limited 72.42%
- Seaway 7 Treasury Limited 72.42%
- Seaway 7 UK Limited 72.42%
- Seaway 7 US Inc. 72.42%
- Seaway 7 Vessels B.V. 72.42%
- Seaway Aimery AS 72.42%
- Seaway Albatross AS 72.42%
- Seaway Eagle AS 72.42%
- Seaway Falcon AS 72.42%
- Seaway Hawk AS 72.42%
- Seaway Heavy Lifting Contracting Limited 72.42%
- Seaway Heavy Lifting Holding Limited 100%
- Seaway Heavy Lifting Limited 72.42%
- Seaway Heavy Lifting Shipping Limited 72.42%
- Seaway Moxie AS 72.42%
- Seaway Offshore Cables Limited 72.42%
- Seaway Osprey AS 72.42%
- Seaway Phoenix AS 72.42%
- Seaway Swan AS 72.42%
- Seaway Ventus AS 72.42%
- Servicios Subsea 7 S. de R.L. de C.V. 52%
- Sevenseas Contractors S. de R.L. de C.V. 100%
- SHL Contracting Germany GmbH 72.42%
- SHL Contracting US Inc. 72.42%
- SHL Stanislav Yudin Limited 72.42%
- SO France S.A. 100%
- Sonacergy - Serviços E Construções Petroliferas, Lda 60%
- Sonamet Industrial S.A. 60%
- Subsea 7 (Guyana) Incorporated 100%
- Subsea 7 (ME) Pte Limited 100%
- Subsea 7 (Singapore) Pte Limited 100%
- Subsea 7 (US) LLC 100%
- Subsea 7 Angola S.A.S. 100%
- Subsea 7 Asia Pacific Sdn Bhd 100%
- Subsea 7 Australia Contracting Pty Ltd 100%
- Subsea 7 Blue Space Investments S.A.S. 100%
- Subsea 7 Canada Inc. 100%
- Subsea 7 Crewing Services Pte. Ltd. 100%
- Subsea 7 Deep Sea Limited 100%
- Subsea 7 do Brasil Serviços Ltda 100%
- Subsea 7 Engineering France S.A.S. 100%
- Subsea 7 Engineering Limited 100%
- Subsea 7 Holding Norway AS 100%
- Subsea 7 Holdings (US) Inc. 100%
- Subsea 7 i-Tech Limited 100%
- Subsea 7 i-Tech Mexico S. de R.L. d e C.V. 100%
- Subsea 7 i-Tech US Inc. 100%
- Subsea 7 Korea Co., Ltd 100%
- Subsea 7 Limited 100%
- Subsea 7 (Trinidad & Tobago) LLC 100%
- Subsea 7 Malaysia Sdn Bhd 30%
- Subsea 7 Marine (US) Inc. 100%
- Subsea 7 Marine LLC 100%
- Subsea 7 Mexico S. de R.L. de C.V. 100%
- Subsea 7 Moçambique, Limitada 100%
- Subsea 7 Navica AS 100%
- Subsea 7 Nigeria Limited 100%
- Subsea 7 Nile Delta Limited 100%
- Subsea 7 NL B.V. 100%
- Subsea 7 Norway AS 100%
- Subsea 7 Pipeline Production Limited 100%
- Subsea 7 Port Isabel LLC 100%
- Subsea 7 Portugal Unipessoal Limitada 100%
- Subsea 7 Saudi Arabia Limited 100%
- Subsea 7 Sénégal SAS 100%
- Subsea 7 Services (Singapore) Pte Limited 100%
- Subsea 7 Servicos Offshore S.A. 100%
- Subsea 7 Shipping Limited 100%
- Subsea 7 Singapore Contracting Pte Limited 100%
- Subsea 7 Vessel Owner AS 100%
- Subsea 7 Volta Contractors Limited 49%
- Subsea Integration Alliance LLC 50%
- Swagelining Limited 100%
- VOI Vessel 2 AS 72.42%
- Xodus Academy Limited 100%
- Xodus DMCC 100%
- Xodus Greenfuel Development Company Pty Ltd 100%
- Xodus Green Light Pty Limited 100%
- Xodus Group A/S 100%
- Xodus Group B.V. 100%
- Xodus Group Consultants Sdn. Bhd 100%
- Xodus Group Doha LLC 100%
- Xodus Group Inc 100%
- Xodus Group Japan 100%
- Xodus Group Limited 100%
- Xodus Group Pty Limited 100%
- ZNM Nigeria Limited 100%
Significant events
- “On 24 July 2025, Subsea 7 S.A., the immediate parent undertaking of the Company and the parent company of the Group, and Saipem S.p.A. announced that they have entered into a binding merger agreement, confirming the terms of the combination of the two companies.”
- “On 10 April 2025 the Board agreed to increase Subsea 7 Luanda Limited's overdraft facility to 9.0 billion Kwanza ($10.0 million) and extend its maturity date to 30 November 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PEACE, Lorna Helen | Secretary | 2014-09-03 | — | — |
| FOLEY, Mark | Director | 2022-01-01 | Apr 1973 | British |
| LOUYS, Nathalie Veronique Jacqueline Ghislaine | Director | 2014-09-03 | Nov 1963 | Belgian |
| MAY, Richard George | Director | 2025-03-31 | Feb 1983 | British |
| WATTS, Rachel | Director | 2021-10-01 | Mar 1972 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BRINGER, Alexandre Armand | Director | 2017-10-09 | 2022-09-07 |
| FOLEY, Mark | Director | 2014-09-03 | 2017-10-06 |
| HODGKINSON, Mark Austin | Director | 2014-09-03 | 2021-10-01 |
| ROSA, Ricardo Horacio | Director | 2014-09-03 | 2021-12-31 |
| YOUNG, Douglas James | Director | 2022-09-07 | 2025-03-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Subsea 7 S.A. | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 44 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-04 | AA | accounts | Accounts with accounts type full | |
| 2025-09-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-08 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-03 | AA | accounts | Accounts with accounts type full | |
| 2024-09-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-29 | CH01 | officers | Change person director company with change date | |
| 2023-11-27 | AA | accounts | Accounts with accounts type full | |
| 2023-09-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-07 | AA | accounts | Accounts with accounts type full | |
| 2022-09-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-12 | AP01 | officers | Appoint person director company with name date | |
| 2022-09-12 | TM01 | officers | Termination director company with name termination date | |
| 2022-01-14 | AP01 | officers | Appoint person director company with name date | |
| 2022-01-14 | TM01 | officers | Termination director company with name termination date | |
| 2021-12-24 | AA | accounts | Accounts with accounts type full | |
| 2021-10-14 | AP01 | officers | Appoint person director company with name date | |
| 2021-10-14 | TM01 | officers | Termination director company with name termination date | |
| 2021-09-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-12-31 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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
—
Not reported
-
Cash
—
Not reported
-
Net assets
+22.7%
£4,531,234,248 £5,560,325,426
-
Employees
—
Not reported
-
Operating profit
+24.1%
£836,587,843 £1,038,605,634
-
Profit before tax
+23.6%
£830,216,457 £1,025,933,284
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