GATES INDUSTRIAL CORPORATION PLC
Operating primarily as Gates Corporation, this publicly listed company manufactures power transmission belts and fluid power products for industrial, automotive, and infrastructure applications worldwide.
Get an alert when GATES INDUSTRIAL CORPORATION PLC files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£610M
USD 812,100,000
+19.1% highest in 3 filed years
Net assets
£2.9B
USD 3,792,700,000
+10.2% highest in 3 filed years
Employees
13,171
-6.7% lowest in 3 filed years
Profit before tax
£237M
USD 315,900,000
-12.8% vs 2024
Watch the reel
Our short-form breakdown of GATES INDUSTRIAL CORPORATION PLC's latest filing
Flat revenue, fewer staff, but a 41% jump in boardroom pay for Gates Corporation. 💼
Net assets
3-year trend · vs Basic Materials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-30 | 2024-12-28 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £2,675,561,903 | £2,565,511,539 | £2,587,536,646 | +0.9% | |
| Operating profit | £351,349,320 | £372,246,862 | £367,886,943 | -1.2% | |
| Profit before tax | £181,838,683 | £272,419,755 | £237,465,233 | -12.8% | |
| Net profit | £169,585,808 | £180,034,579 | £194,241,900 | +7.9% | |
| Cash | £541,682,327 | £512,666,316 | £610,463,805 | +19.1% | |
| Total assets less current liabilities | £4,928,286,853 | £4,636,021,950 | £4,905,810,719 | +5.8% | |
| Net assets | £2,712,546,042 | £2,587,912,501 | £2,851,011,050 | +10.2% | |
| Equity | £2,712,546,042 | £2,349,620,386 | £2,583,702,924 | +10% | |
| Average employees | 14,929 | 14,117 | 13,171 | -6.7% | |
| Wages | £474,930,467 | £63,820,191 | £458,768,699 | +618.8% | |
| Directors' remuneration | £4,735,774 | £11,275,652 | £16,011,426 | +42% |
Figures converted to GBP from USD at 0.752 per USD (Frankfurter spot rate) — hover any figure for the original. — 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 | 2023-12-30 | 2024-12-28 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 13.1% | 14.5% | 14.2% | |
| Net margin | 6.3% | 7.0% | 7.5% | |
| Return on capital employed | 7.1% | 8.0% | 7.5% | |
| Gearing (liabilities / total assets) | 50.8% | 50.0% | 47.8% | |
| Current ratio | 3.12x | 3.23x | 3.43x | |
| Interest cover | 2.18x | 3.55x | 2.94x |
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
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors' assessment of the group's and parent company's ability to continue to adopt the going concern basis of accounting included: ... assessing the appropriateness of the going concern disclosures in the financial statements.”
Group structure
- GATES INDUSTRIAL CORPORATION PLC · parent
- Gates Argentina S.A. 100%
- Gates Australia Pty, Limited 100%
- Gates E&S Bahrain W.L.L. 49%
- Gates Distribution Centre N.V. 100%
- Gates do Brasil Industria e Commercio Ltda 100%
Significant events
- “During the three months ended March 28, 2026, the Company repurchased 710,058 shares under the existing share repurchase program in the open market at a total cost of approximately $16.5 million, plus costs paid directly related to the transaction of $0.1 million.”
- “In March 2026, we completed an annuity purchase for most of the retirees in the Canadian defined benefit pension plan. The $30.4 million purchase price, funded from plan assets, settled the $31.3 million of the pension benefit obligation.”
- “On May 1, 2026, the Company announced that it entered into a definitive agreement to acquire the belts business from The Timken Company including select manufacturing assets. The transaction is expected to close in the third quarter of 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| COMPUTERSHARE COMPANY SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2024-12-06 | — | — |
| CANTIE, Joseph Stephen | Director | 2025-03-30 | Sep 1963 | American |
| ELIASSON, Fredrik Justus | Director | 2022-10-24 | Dec 1970 | American |
| IRELAND III, James William | Director | 2018-11-07 | Jan 1955 | American |
| JUREK, Ivo | Director | 2017-09-25 | Oct 1964 | American |
| MAINS, Stephanie Kimble | Director | 2019-02-28 | Jul 1967 | American |
| NEELY, Wilson Stuart | Director | 2020-04-01 | Nov 1955 | American |
| SIMPKINS, Neil | Director | 2017-11-20 | Apr 1966 | British |
| ZHANG, Peifang, Dr. | Director | 2020-07-01 | Jun 1961 | German |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| INTERTRUST (UK) LIMITED | Corporate Secretary | 2017-09-25 | 2024-12-06 |
| BRACKEN, Cristin Cracraft | Director | 2020-03-30 | 2020-03-30 |
| CALHOUN, David | Director | 2017-11-20 | 2020-01-09 |
| KAHR, Julia Casper | Director | 2017-09-25 | 2022-12-31 |
| KLEBE, Terry | Director | 2017-12-15 | 2022-12-31 |
| MEISEL, Seth Asher | Director | 2023-01-01 | 2024-12-31 |
| OVELMEN, Karyn | Director | 2017-12-15 | 2019-03-01 |
| PLANT, John Charles | Director | 2017-12-15 | 2019-07-23 |
| TILLMAN, Alicia | Director | 2021-04-27 | 2025-08-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Stephen Allen Schwarzman | Individual | Significant influence, Significant influence (as firm) | 2017-09-27 | Ceased 2022-02-16 |
| Intertrust Trustees (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2017-09-25 | Ceased 2017-09-27 |
Filing timeline
Last 20 of 184 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-06-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-29 | SH01 | capital | Capital allotment shares | |
| 2026-06-25 | SH03 | capital | Capital return purchase own shares | |
| 2026-06-23 | AA | accounts | Accounts with accounts type group | |
| 2026-06-20 | RESOLUTIONS | resolution | Resolution | |
| 2026-06-04 | SH01 | capital | Capital allotment shares | |
| 2026-06-02 | SH06 | capital | Capital cancellation shares | |
| 2026-05-07 | SH01 | capital | Capital allotment shares | |
| 2026-04-30 | SH03 | capital | Capital return purchase own shares | |
| 2026-04-08 | SH01 | capital | Capital allotment shares | |
| 2026-03-23 | SH06 | capital | Capital cancellation shares | |
| 2026-03-23 | SH06 | capital | Capital cancellation shares | |
| 2026-03-23 | SH06 | capital | Capital cancellation shares | |
| 2026-03-23 | SH06 | capital | Capital cancellation shares | |
| 2026-03-05 | SH01 | capital | Capital allotment shares | |
| 2026-02-13 | SH01 | capital | Capital allotment shares | |
| 2026-02-12 | SH06 | capital | Capital cancellation shares | |
| 2026-02-12 | SH06 | capital | Capital cancellation shares | |
| 2026-02-10 | CH01 | officers | Change person director company with change date | |
| 2026-01-30 | SH06 | capital | Capital cancellation shares | |
| 2026-01-27 | SH03 | capital | Capital return purchase own shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 17
- 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.