STATS Group revenue increases with further internationalisation in the pipeline

Pipeline technology specialist STATS (UK) Ltd increased revenues to just under £50 million while EBITDA earnings rose to £7.8 million from £6.5 million.

By Dawn Renton
Wednesday, 25th May 2022, 8:02 am
Updated Wednesday, 25th May 2022, 8:03 am
There's further internationalisation in the pipeline for STATS (Pic: Simon Price)
There's further internationalisation in the pipeline for STATS (Pic: Simon Price)

Headquartered in Kintore, STATS principal activity is the provision of pressurised pipeline isolation, hot tapping and plugging services to the energy industry.

STATS Group Chief Executive Officer, Leigh Howarth, said the company had delivered an excellent trading result for the year despite the ongoing impact of the Coronavirus pandemic.

He said: “The Middle East was one of the strongest performing regions with revenues increasing from £7.9m in 2020 to £11.6m, while in Malaysia income rose sharply to £1.4m. The group consolidated growth in its domestic UK market with revenues up from £5.1m to £6.7m, while the Canadian market grew from £6.7m to £7.8m.”

Leigh Howarth, CEO, STATS Group (Pic: Simon Price)

STATS recorded a number of important operational milestones, including its continued expansion in the North American market and development of new client relationships in the US. In the Saudi Arabian market, the company strengthened its position with the award of a major subsea intervention project, while in Australia the completion of several major intervention projects using STATS’ patented BISEP tools built on the firm’s excellent track record.

In Nigeria, STATS completed a long-term isolation project on a FPSO on behalf of a major oil and gas operator, whilst in the UKCS, the company delivered six concurrent North Sea pipeline shutdown campaigns on behalf of several clients.