SUBSEA 7 LIMITED
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Cash
£37k
-30.2% lowest in 3 filed years
Net assets
£495m
+8.1% highest in 3 filed years
Employees
0
Average over period
Profit before tax
£47m
+50.5% highest in 3 filed years
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £269,588,000 | £404,203,000 | £407,761,000 | +0.9% | |
| Operating profit | -£8,943,000 | £28,863,000 | £41,371,000 | +43.3% | |
| Profit before tax | -£13,756,000 | £31,552,000 | £47,477,000 | +50.5% | |
| Net profit | -£13,449,000 | £27,343,000 | £37,335,000 | +36.5% | |
| Cash | £1,484,000 | £53,000 | £37,000 | -30.2% | |
| Total assets less current liabilities | £430,473,000 | £475,595,000 | £516,587,000 | +8.6% | |
| Net assets | £430,473,000 | £458,022,000 | £495,263,000 | +8.1% | |
| Equity | £430,473,000 | £458,022,000 | £495,263,000 | +8.1% | |
| Average employees | 0 | 0 | 0 | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £2,474,000 | £2,344,000 | £2,530,000 | +7.9% | |
| Directors' pension contributions | £77,000 | £88,000 | £99,000 | +12.5% | |
| Highest paid director | £741,000 | £816,134 | £978,065 | +19.8% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -3.3% | 7.1% | 10.1% | |
| Net margin | -5.0% | 6.8% | 9.2% | |
| Return on capital employed | -2.1% | 6.1% | 8.0% | |
| Gearing (liabilities / total assets) | 24.0% | 17.8% | 13.2% | |
| Current ratio | 1.35x | 1.75x | 3.46x | |
| Interest cover | -1.94x | 11.38x | 31.08x |
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.
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
Audit & accounting basis
- Accounting basis
- other
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“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%
Significant events
- “On 24 July 2025, Subsea 7 S.A., the ultimate 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”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 28 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 |
| 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 28 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 |
| SHARLAND, Graham Christopher | Director | 2013-01-03 | 2026-07-31 |
| 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 188 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-25 | AA | accounts | Accounts with accounts type full | |
| 2026-08-17 | TM01 | officers | Termination director company with name termination date | |
| 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 |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- 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.