INNOVEX INTERNATIONAL (EUROPE) LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-30 (in 2mo)
Last made up 2025-07-16
Watchouts
None on the register
Cash
£11M
-50.1% vs 2023
Net assets
£68M
-23.3% vs 2023
Employees
197
-10.9% vs 2023
Profit before tax
-£1M
-117.3% vs 2023
Name history
Renamed 1 time since incorporation
- INNOVEX INTERNATIONAL (EUROPE) LIMITED 2026-02-26 → present
- DRIL-QUIP (EUROPE) LIMITED 1983-02-10 → 2026-02-26
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 | £75,544,000 | £46,108,000 | |
| Operating profit | £5,293,000 | -£2,066,000 | |
| Profit before tax | £5,979,000 | -£1,034,000 | |
| Net profit | £4,440,000 | -£1,252,000 | |
| Cash | £22,999,000 | £11,472,000 | |
| Total assets less current liabilities | £89,435,000 | £68,929,000 | |
| Net assets | £88,785,000 | £68,087,000 | |
| Equity | £88,785,000 | £68,087,000 | |
| Average employees | 221 | 197 | |
| Wages | £13,535,000 | £13,372,000 |
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 | 7.0% | -4.5% | |
| Net margin | 5.9% | -2.7% | |
| Return on capital employed | 5.9% | -3.0% | |
| Gearing (liabilities / total assets) | 36.3% | 43.4% | |
| Current ratio | 2.52x | 2.09x | |
| Interest cover | 1323.25x | -35.62x |
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 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company has obtained a letter of support confirming that the Parent will provide financial support to the Company such that the Company is able to operate as a going concern and to settle their liabilities as they fall due. Uncertainty exists on Russian and Ukraine conflict, and major oil and gas operators have a wide variety of different demand estimates in the future which could materially impact the Company's earnings if demand remains weak for a prolonged period of time. Directors have considered a plausible downside and an analysis on cashflow. In this scenario, the Company has sufficient liquidity headroom to meet its working capital requirement.”
Group structure
- INNOVEX INTERNATIONAL (EUROPE) LIMITED · parent
- Dril-Quip (Nigeria) Limited 1%
- Dril-Quip Angola Prestacao de Services Lda 1%
- Dril-Quip Egypt for Petroleum Services S.A.El 1%
- Dril-Quip (Ghana) Ltd 1%
- Dril-Quip Cote D'Ivoire 1%
- Dril-Quip Egypt for Management Services LLC (Egypt) 1%
Significant events
- “On March 18th, 2024, Dril-Quip announced agreement with Innovex International, Inc. to merge in an all-stock transaction. This was completed on September 6, 2024, with the combined company assuming the Innovex International, Inc name and listing on the New York Stock Exchange. The combined business has a comprehensive product and service offering for the lifecycle of the oil and gas well.”
- “On 26 February 2026, the company changed it's name from Dril-Quip (Europe) Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 14 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HENDRY, Christopher Charles | Secretary | 2023-10-16 | — | — |
| ANDERSON, Adam Baker | Director | 2024-09-20 | Mar 1976 | American |
| HENDRY, Christopher Charles | Director | 2024-08-27 | Oct 1989 | British |
| REED, Kendal Ryan | Director | 2024-09-20 | Mar 1988 | American |
Show 14 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CAMERON, Sonia Ann | Secretary | 2019-03-25 | 2023-08-04 |
| FLETCHER, Brian Anthony | Secretary | 1994-11-14 | 1997-09-05 |
| GARIEPY, James | Secretary | 2005-07-14 | 2011-05-06 |
| MCKENDRICK, David Allan | Secretary | 2011-05-06 | 2019-03-25 |
| SKENE, Norman Edward | Secretary | 1997-09-05 | 2005-07-14 |
| YOUNGHAM, Walter Ernest | Secretary | — | 1994-11-14 |
| BIRD, Jeffrey John | Director | 2017-10-18 | 2024-09-20 |
| BROOKS, Jerry Mark | Director | 2011-02-03 | 2017-10-18 |
| GARIEPY, James Alfred | Director | 2011-07-22 | 2019-03-01 |
| LOVELESS, Gary Wilton | Director | — | 2006-04-11 |
| REIMERT, Larry Eugene | Director | — | 2011-02-03 |
| SMITH, Gary Don | Director | — | 2009-11-02 |
| WALKER, James Michael | Director | — | 2011-07-22 |
| WEBSTER, James Cleveland | Director | 2019-03-01 | 2024-09-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Dril-Quip Uk Holdco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-10-27 | Active |
| Dril-Quip Inc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2017-10-27 |
Filing timeline
Last 20 of 188 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-02-26 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | AA | accounts | Accounts with accounts type full | |
| 2026-03-07 | DISS40 | gazette | Gazette filings brought up to date | |
| 2026-03-03 | GAZ1 | gazette | Gazette notice compulsory | |
| 2026-02-26 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-07-16 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-14 | CH01 | officers | Change person director company with change date | |
| 2025-03-27 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-13 | AA | accounts | Accounts with accounts type full | |
| 2024-10-15 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-15 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-15 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-15 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-27 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-17 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-02-29 | AA | accounts | Accounts with accounts type full | |
| 2023-10-16 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-08-04 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-07-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-14 | CH01 | officers | Change person director company with change date | |
| 2023-07-14 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- 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
-39%
£75,544,000 £46,108,000
-
Cash
-50.1%
£22,999,000 £11,472,000
-
Net assets
-23.3%
£88,785,000 £68,087,000
-
Employees
-10.9%
221 197
-
Operating profit
-139%
£5,293,000 -£2,066,000
-
Profit before tax
-117.3%
£5,979,000 -£1,034,000
-
Wages
-1.2%
£13,535,000 £13,372,000
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