WE SODA LTD
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Next accounts due
2027-09-30 (in 1y)
Last filed for 2025-12-31
Confirmation statement due
2027-02-20 (in 9mo)
Last made up 2026-02-06
Watchouts
None on the register
Cash
£189M
+1.6% vs 2024
Net assets
£1B
+0.7% vs 2024
Employees
2,500
+73.7% vs 2024
Profit before tax
£61M
-51.7% vs 2024
Net assets
2-year trend · vs Basic Materials median
Accounts
2-year trend · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Turnover | £899,912,528 | £1,825,577,465 | |
| Operating profit | £277,169,755 | £316,207,561 | |
| Profit before tax | £125,716,827 | £60,700,519 | |
| Net profit | £103,848,777 | £28,931,801 | |
| Cash | £186,429,207 | £189,320,237 | |
| Total assets less current liabilities | £2,355,257,228 | £3,305,784,285 | |
| Net assets | £1,228,148,999 | £1,237,020,756 | |
| Equity | £1,228,148,999 | £1,237,020,756 | |
| Average employees | 1,439 | 2,500 | |
| Wages | £86,053,373 | £151,704,225 |
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 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Operating margin | 30.8% | 17.3% | |
| Net margin | 11.5% | 1.6% | |
| Return on capital employed | 11.8% | 9.6% | |
| Gearing (liabilities / total assets) | 52.8% | 68.6% | |
| Current ratio | 16.80x | 3.24x | |
| Interest cover | 1.58x | 4.08x |
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
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Our opinion is not modified in respect of a going concern matter.”
Group structure
- WE SODA LTD · parent
- WE Soda Shipping Holdings Limited 100%
- WE Soda Enterprises Inc 100%
- Eti Maden İşletmeleri Genel Müdürlüğü ve Ticaret A.Ş. 74%
- Kazan Soda Elektrik Üretim A.Ş. 100%
- Solvay Soda World LLC 100%
- WE Soda World LLC 100%
- WE Soda Holding B.V. and TC Soda Holdings Inc. 100%
- WE Soda Investments Holding Plc 100%
- Denmar Depoculuk Nakliyat ve Ticaret A.Ş. 100%
- WE Soda Holdings LLC 100%
- WE Soda Affiliates Holdings LLC 100%
- WE Soda West LLC 100%
- WE Soda Minerals LLC 100%
- WE Soda US LLC 100%
- WE Soda Partners LLC 100%
- WE Soda Europe LLC 100%
- Global Glass Industries LLC 100%
- WE Qliki Holdings LLC 100%
- OBIII LLC 100%
- American Natural Soda Ash Corporation 100%
- AMSAC Asia Singapore Private Limited 100%
- WE Soda Holdings S. 100%
Significant events
- “In February 2025, the Group completed the acquisition of Genesis Alkali (Alkali Business), creating one of the world's leading industrial minerals companies and the world's largest producer of natural soda ash.”
- “The Group secured a $2.8 billion credit facility.”
- “On 3 December 2025, the District Court of The Hague issued an adverse judgement regarding patent infringement proceedings launched by Solvay S.A.”
- “WE Soda Investments Holdings Limited merged with Park Holding A.Ş. in 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 14 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SMALL, Jeremy Peter | Secretary | 2024-03-28 | — | — |
| CINER, Ikbal Didem | Director | 2024-03-28 | Feb 1980 | Turkish |
| ERDOGAN, Mehmet Ali | Director | 2016-07-06 | Oct 1970 | British |
| HALL, Nicholas Rodney | Director | 2024-03-28 | Aug 1974 | British |
| HOE-RICHARDSON, Samantha Jane | Director | 2024-03-28 | Jan 1971 | British |
| KAINYAH, Rosalind Nana Emela | Director | 2024-03-28 | Jan 1958 | British |
| KENYON-SLANEY, Harry James Rudolph | Director | 2024-03-28 | Feb 1961 | British |
| TOHMA, Ahmet | Director | 2022-02-25 | Oct 1980 | Turkish |
| WARREN, Alasdair John | Director | 2019-01-08 | Jul 1966 | British |
| WESTMACOTT, Peter John, Sir | Director | 2024-03-28 | Dec 1950 | British |
| ÖZEN, Sait Ergun | Director | 2024-03-28 | May 1960 | Turkish |
Show 14 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ERDOGAN, Erdogan | Secretary | 2016-07-06 | 2022-05-26 |
| ERDOGAN, Mehmet Ali | Secretary | 2022-05-26 | 2024-03-28 |
| BASTUG, Recep | Director | 2019-01-01 | 2019-09-01 |
| CINER, Ikbal Didem | Director | 2022-03-23 | 2023-04-01 |
| CINER, Ikbal Didem | Director | 2018-11-06 | 2022-02-01 |
| CINER, Turgay | Director | 2022-02-01 | 2022-03-23 |
| HINTON, Thomas Edward | Director | 2020-06-11 | 2022-01-28 |
| INCE, Suat | Director | 2020-04-20 | 2022-01-18 |
| PAPAKALODOUKAS, Vasileios | Director | 2021-10-01 | 2022-09-22 |
| SOLAKLAR, Arif Sinan | Director | 2021-10-01 | 2022-09-22 |
| USTA, Gursel | Director | 2024-03-28 | 2025-10-02 |
| USTA, Gursel | Director | 2019-01-01 | 2023-04-01 |
| WESTMACOTT, Peter John, Sir | Director | 2019-01-01 | 2023-02-08 |
| ÖZEN, Sait Ergun | Director | 2019-01-01 | 2023-02-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Akkan Enerji Ve Madencilik As | Corporate entity | Significant influence | 2016-07-06 | Ceased 2022-09-09 |
| Mr Turgay Ciner | Individual | Significant influence | 2016-07-06 | Ceased 2022-09-09 |
| Kew Soda Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-07-06 | Active |
Filing timeline
Last 20 of 106 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-09 | AA | accounts | Accounts with accounts type group | |
| 2026-05-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-03-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-02-23 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2025-10-08 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-08-04 | AA | accounts | Accounts with accounts type group | |
| 2025-02-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-17 | AA | accounts | Accounts with accounts type group | |
| 2024-04-05 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-04-05 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-04-05 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-05 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-05 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-05 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 0
- Officers appointed
- 0
- 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
FY2024 → FY2025 · period ending 2025-12-31 vs 2024-12-31
-
Turnover
+102.9%
£899,912,528 £1,825,577,465
-
Cash
+1.6%
£186,429,207 £189,320,237
-
Net assets
+0.7%
£1,228,148,999 £1,237,020,756
-
Employees
+73.7%
1,439 2,500
-
Operating profit
+14.1%
£277,169,755 £316,207,561
-
Profit before tax
-51.7%
£125,716,827 £60,700,519
-
Wages
+76.3%
£86,053,373 £151,704,225
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