How much does Sulmara Subsea Limited make?

Sulmara Subsea Limited reported revenue of £25.3m and a loss of £102k in the year to 31 Dec 2024, according to its accounts filed at Companies House.

How many employees does Sulmara Subsea Limited have?

Sulmara Subsea Limited reported an average of 132 employees in the year to 31 Dec 2024.

Is Sulmara Subsea Limited profitable?

No — Sulmara Subsea Limited reported a loss of £102k in the year to 31 Dec 2024.

Company No. SC606923 · Incorporated 31 Aug 2018

Sulmara Subsea Limited

Registered name: SULMARA SUBSEA LIMITED

Part of Sulmara Subsea International Limited group

Sulmara Subsea Limited made £25.3m revenue and a £102k loss in the year to 31 Dec 2024. read from filing text

Sulmara Subsea Limited’s revenue grew 6% to £25.3m in the year to 31 Dec 2024, with a loss of £102k and 132 employees. The company is classified under “other business support service activities” and is based in Aberdeen; we hold 4 years of its filed accounts.

Full P&L filedSection N · Administrative and support servicesSIC 82990Other business support service activities n.e.c.

Status: Active
Location: Aberdeen, Scotland
Age: 8 yrs · since 2018
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently. From the filing: “The ultimate parent company is Sulmara Subsea International Limited, a company incorporated in Scotland whose address of its registered office is 28 Albyn Place, Aberdeen, United Kingdom, AB10 1YL. Su”

Latest accounts · year to 31 Dec 2024

Key figures

Revenue

£25.3m

Growth ▲6.4%

Profit

−£102k

Growth ▼106%

Profit margin

−0.4%

Gross 24.8%

Employees

132

Change ▲29.4%

Profit / employee

−£773

Revenue/employee £192k

Profitable streak

0yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2021	31 Dec 2022	31 Dec 2023	31 Dec 2024
Disclosure	No P&L	Full P&Lread from filing text	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	—	£22.4m	£23.8m	£25.3m
Cost of sales	—	£16.9m	£17.9m	£19.1m
Gross profit	—	£5.4m	£5.9m	£6.3m
Operating profit	—	£1.7m	£566k	−£1.2m
Profit before tax	—	£1.8m	£1.8m	−£18k
Profit after tax	—	£1.6m	£1.7m	−£102k
Profit (best available)	—	£1.6m	£1.7m	−£102k
Staff costs	—	£5.4m	£8.2m	£10.9m
Employees (average)	40	74	102	132
Ratios
Profit margin	—	6.9%	7.1%	−0.4%
Gross margin	—	24.3%	24.9%	24.8%
Revenue per employee	—	£302k	£234k	£192k
Profit per employee	—	£21k	£16.7k	−£773
Growth (year on year)
Revenue growth	—	—	▲6.5%	▲6.4%
Profit growth	—	—	▲9.5%	▼106%
Headcount growth	—	▲85%	▲37.8%	▲29.4%
Balance sheet — indirect signals, not revenue
Cash at bank	£882k	£1.8m	£27k	£927k
Net assets	£668k	£2.2m	£4m	£3.9m
Fixed assets	£1.4m	£3.1m	£4.2m	£7.7m
Current assets	£9.6m	£19.6m	£16.9m	£29.1m
Debtors	£966k	£3.7m	£3.6m	£2.3m
Deferred income	£238k	£1.1m	£363k	£862k
Source	Accounts · bulk data Dec 2023	Accounts · bulk data Dec 2023	FullAccounts · bulk data Dec 2024	FullAccounts · bulk data Dec 2025

Derived from the latest filing

How the business works

Profit margin: −0.4%; Profit ÷ revenue.
Gross margin: 24.8%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £192k; Revenue ÷ average employees.
Profit per employee: −£773; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 30.2%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 3.4%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 9%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▼0%; Now £3.9m
Cash at bank: ▲3333%; Now £927k
Headcount: ▲29%; Now 132
Deferred income: ▲137%; Now £862k
Fixed assets: ▲81%; Now £7.7m

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Sulmara Subsea International Limitedultimate parent75–100%
Sulmara Subsea Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (2)

Sulmara Geo LimitedFigures not disclosed
Sulmara Subsea Mozambique LimitedFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2024 (profit −£102k), from the Companies House accounts bulk data published Dec 2025. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.