Norway · Delayed Price · Currency is NOK Reach Subsea ASA Earnings Call Transcripts
Fiscal Year 2025
-
Q4 2025 saw revenue and EBIT decline sharply year-over-year due to lower vessel utilization, project mix, and startup costs for remote operations, but operational cash flow and liquidity remain strong. Major milestones were achieved in the Reach Remote program, positioning the company for long-term growth.
-
Q3 2025 results were below expectations due to lower vessel utilization and one-off costs from Reach Remote implementation, but operational cash flow and balance sheet strength improved. Major milestones in unmanned vessel operations and strong market interest support a positive long-term outlook.
-
Q2 2025 saw lower vessel utilization and weaker margins, but half-year results hit record highs, supported by strong first quarter performance and ongoing investments in remote operations. The long-term outlook remains positive, with robust demand and strategic expansion underway.
-
Record Q1 results with 22% revenue and 130% EBIT growth year-over-year, driven by high project activity and strong market conditions. Successful Reach Remote pilot paves way for commercial operations and further fleet expansion, with robust financials and a NOK 1.3 billion backlog.
Fiscal Year 2024
-
Record revenue and activity in 2024, with Q4 revenue up 44% year-over-year and full-year revenue at NOK 2.7 billion. Strong backlog, ongoing fleet mobilization, and new technology initiatives position the company for further growth in 2025.
-
Q3 2024 saw nearly 30% revenue growth year-over-year, surpassing NOK 2 billion YTD, with strong fleet utilization and robust project activity. Reach Remote USVs are nearing operational launch, supported by a EUR 14.3 million EU grant, and the outlook remains positive across core markets.
-
Q2 2024 saw strong financial results, with revenue and profit growth year-over-year, driven by increased capacity, global expansion, and technology innovation. The outlook remains robust, with a high-margin backlog and continued fleet and service enhancements planned.