Subsea 7 International Contracting Limited
Other specialised construction activities n.e.c. · Sutton
ActiveUnited KingdomIncorporated 1995Private Limited Company
Financial position
Accounts to 2025-12-31 · USD · Company accounts
Net assets
USD 88,484,000
Cash
—
Turnover
USD 1,069,526,000
Profit / loss
—
Current assets
USD 197,012,000
Creditors < 1 year
USD 384,981,000
Equity
USD 88,484,000
Average employees
52
Balance-sheet trend
USD · companyFinancial statements
Selected figures from the best-ranked available filing for each period. Missing values remain unknown.
Some figures were read by AI from scanned accounts, so small errors are possible. View the filed accounts
| Reported figures | 2025-12-3112 months · Company · AI-read | 2024-12-31Company · AI-read |
|---|---|---|
| Balance sheet | ||
| Net assets | USD 88,484,000 | USD 41,393,000 |
| Equity | USD 88,484,000 | USD 41,393,000 |
| Retained earnings | USD 88,484,000 | USD 41,393,000 |
| Assets | ||
| Fixed assets | USD 281,755,000 | USD 233,194,000 |
| Property, plant & equipment | USD 36,000 | USD 1,581,000 |
| Current assets | USD 197,012,000 | USD 288,355,000 |
| Stock | USD 15,653,000 | USD 15,363,000 |
| Liabilities | ||
| Creditors | USD 390,283,000 | USD 480,156,000 |
| Creditors within one year | USD 384,981,000 | USD 407,121,000 |
| Provisions | USD 888,000 | USD 4,943,000 |
| Profit & loss | ||
| Turnover | USD 1,069,526,000 | USD 996,982,000 |
| Operating profit | USD 82,513,000 | USD 53,901,000 |
| Interest receivable | USD 693,000 | USD 2,189,000 |
| Interest payable | USD 11,648,000 | USD 27,496,000 |
| Profit before tax | USD 68,870,000 | USD 31,702,000 |
| Tax | USD 22,050,000 | USD 15,668,000 |
| Operating costs | ||
| Depreciation | USD 1,471,000 | USD 1,945,000 |
| Audit fees | USD 52,194,000 | USD 50,625,000 |
| People & pay | ||
| Average employees | 52 | 53 |
| Staff costs | USD 10,955,000 | USD 10,399,000 |
| Social security costs | USD 1,372,000 | USD 1,230,000 |
| Pension costs | USD 711,000 | USD 735,000 |
| Directors' remuneration | USD 2,012 | USD 1,684 |
| Highest paid director | USD 962,000 | USD 728,000 |
| Source evidence | View filing | View filing |
From the accounts
What the accounts for 2025-12-31 say about themselves, read by AI from the scanned filing.
- Principal activity
- The principal activity of the Company during the year was the charter of vessels from and to other group companies and to provide project management and subsea installation services to the offshore oil and gas industry.
- What it does
- charter of vessels · project management · subsea installation services · offshore oil and gas industry (AI keywords)
- The year
- The Company’s total comprehensive income for the financial year of $46.8 million (2024: $16.0 million) has been transferred to reserves.
- Outlook
- Activity levels in 2026 are expected to be consistent with the activity levels in 2025. The Directors expect that revenue will continue to be generated from the chartering of vessels, provision of project management and subsea installation services to the offshore energy industry.
- Auditor
- Ernst & Young LLP · senior statutory auditor Jamie Dixon
- Audit opinion
- Clean (unmodified)
- Immediate parent
- Subsea 7 International Holdings (UK) Limited · England
- Ultimate parent
- Subsea 7 S.A. · Luxembourg
- Ultimate controlling party
- Subsea 7 S.A.
- Accounts
- Full accounts · FRS 101
- Approved
- 2026-08-19, signed by John Gordon
Turnover by segment (14)
- Brazil: 297,556 (000s) (2025-12-31)
- Brazil: 316,033 (000s) (2024-12-31)
- UK: 203,988 (000s) (2025-12-31)
- UK: 151,820 (000s) (2024-12-31)
- Norway: 190,709 (000s) (2025-12-31)
- Norway: 160,049 (000s) (2024-12-31)
- Angola: 80,008 (000s) (2025-12-31)
- Australia: 77,716 (000s) (2025-12-31)
- Australia: 94,130 (000s) (2024-12-31)
- Turkey: 71,544 (000s) (2025-12-31)
- USA: 50,679 (000s) (2025-12-31)
- USA: 52,745 (000s) (2024-12-31)
- Other: 97,326 (000s) (2025-12-31)
- Other: 222,205 (000s) (2024-12-31)
Related parties (13)
- Non-wholly owned subsidiaries · subsidiary · Sales to related party · 446 (000s)
- Non-wholly owned subsidiaries · subsidiary · Amounts owed by related party · 38,104 (000s)
- Non-wholly owned subsidiaries · subsidiary · Sales to related party · 3,062 (000s)
- Non-wholly owned subsidiaries · subsidiary · Amounts owed by related party · 62,784 (000s)
- Non-wholly owned subsidiaries · subsidiary · Amounts owed to related party · 24,233 (000s)
- Joint ventures and associates · joint ventures and associates · Sales to related party · 1,119 (000s)
- Joint ventures and associates · joint ventures and associates · Amounts owed by related party · 616 (000s)
- Joint ventures and associates · joint ventures and associates · Sales to related party · 16 (000s)
- Joint ventures and associates · joint ventures and associates · Amounts owed by related party · 16 (000s)
- Other related parties · other related parties · Purchases from related party · 20,913 (000s)
- Other related parties · other related parties · Amounts owed to related party · 159 (000s)
- Other related parties · other related parties · Purchases from related party · 19,915 (000s)
- Other related parties · other related parties · Amounts owed to related party · 119 (000s)
Disposals (1)
- Seven Champion vessel
Principal risks (1)
- Economic risk
Secured borrowing
Registered charges, lenders and security interests.
Charges and related records
0 outstanding chargesShow 1 satisfied / released
Shares · created 2004-02-24 · satisfied 2008-05-19
All monies
Satisfied