ENI UK LIMITED

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

• Turnover

  -54.9%

  £292,822,000 → £132,006,000

• Cash

  +57.5%

  £331,916,000 → £522,673,000

• Net assets

  +358.5%

  £292,855,000 → £1,342,705,000

• Employees

  -13.9%

  180 → 155

• Operating profit

  -1,851.6%

  £11,161,000 → -£195,500,000

• Profit before tax

  +50.1%

  £300,310,000 → £450,684,000

• Wages

  -15.4%

  £19,253,000 → £16,280,000

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

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.

1. ENI UK LIMITED 2003-04-10 → present
2. AGIP (U.K.) LIMITED 1965-10-29 → 2003-04-10

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors are satisfied that the company has adequate financial resources, including access to Eni Group financial resources, to continue to operate for the foreseeable future being not less than twelve months from the date of signing these financial statements and meet its obligations as they fall due. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.”

Group structure

1. ENI UK LIMITED · parent
   1. Eni Hewett Limited 100% · Scotland · Oil company
   2. Eni TNS Limited 100% · Scotland · Dormant
   3. Eni Liverpool Bay Operating Company Limited 100% · England & Wales · Dormant
   4. Eni LNS Limited 100% · England & Wales · Oil company
   5. Eni CCUS Holding Limited 100% · England & Wales · Holding
   6. Bacton CCS 100% · England & Wales · CCS
   7. Liverpool Bay CCS Limited 100% · England & Wales · CCS
   8. Eni Tellus Limited 100% · England & Wales · CCS

Significant events

• “On 23 April 2024, the company, together with Eni Energy Holdings Limited, an affiliate of the company, and Ithaca Energy plc, signed a Business Combination Agreement ("BCA") to combine substantially all of its upstream assets in the UK with Ithaca Energy plc, excluding its East Irish Sea assets and CCUS activities.”
• “Under the terms of the BCA, the company and Eni Energy Group Holdings Limited agreed to sell the entire issued share capital of their respective subsidiaries, Eni Elgin Franklin Limited and Neptune E&P UK Limited, to Ithaca Energy plc in exchange for the allotment and issuance of 38.5% of Ithaca Energy plc's diluted issued share capital to the company upon completion.”
• “On 31 August 2024, as part of the BCA, an internal reorganisation took place, under which the company transferred its entire allotted and issued share capital of Eni UKCS Limited to Eni Elgin/Franklin Limited and transferred the P2613 exploration licence for the Glenelg oil field to Eni UKCS Limited for no consideration.”
• “Additionally, on 24 September 2024, as part of the BCA, Eni UK Limited acquired an interest in the UK Continental Shelf Seaward Production Licence, the Joint Operating Agreement for the Seaward Licence, and the Unitisation Agreement for the Sillimanite Field ("Sillimanite assets") from Eni Energy E&P UK Limited, an affiliate of the company, for consideration equal to the net book value of Sillimanite's net assets as of 24 September 2024. This resulted in a net cash inflow of £0.5 million to the company, receivable from Eni Energy E&P UK Limited.”
• “Under the BCA, the company granted DKL Energy Limited, the major shareholder of Ithaca Energy plc, an option to sell 3.6% of Ithaca Energy plc's shares. On 8 October 2024, DKL Energy Limited exercised this option (the "Sell-Down Transaction"). Following the completion of the Sell-Down Transaction, the company now owns 37.2% of Ithaca Energy plc's shares.”
• “In 2024, Eni UK Limited paid £431.6 million to Eni Energy Group Holding Limited for the disposal of Eni Energy E&P UK, based on the prorated market value of Ithaca Energy plc shares issued to the company. To finance this settlement, the company issued 450 million ordinary shares of £1.00 each to its immediate parent, Eni International B.V., in exchange for a £450.0 million capital contribution (2023: £nil).”
• “The business combination transaction was completed on 3 October 2024, with an effective date of 30 June 2024. The investment value of Eni Elgin/Franklin Limited disposed of amounted to £35.7 million. The transaction resulted in a gain on disposal of £427.2 million. The company also recognised a loss on the disposal of call options amounting to £3.2 million. The investment in Ithaca Energy plc, recognised by the company, amounts to £698.3 million, reflecting the fair value of shares received and the working capital adjustment for the interim economic transactions as at 30 June 2024.”
• “As at 31 December 2024, the receivable due from Ithaca Energy plc amounts to £171.7 million which relates to the adjustment for the interim economic transactions as at 30 June 2024.”
• “In June 2023, the High Court judged that amendments made to the Virgin Media scheme were invalid... In July 2024, the Court of Appeal upheld the June 2023 decision... The Company currently considers that it is unlikely that there will be any impact on the Defined Benefit Obligation, subject to further investigation. We are therefore disclosing this issue as a potential contingent liability at the 2024 year-end.”

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

Filings

9

last 12 months

Capital events

1

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

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