Haugesund, 30 April 2025 – Reach Subsea ASA has today published its Annual and Sustainability Report for 2024.
The annual accounts and reports were approved by the Board of Directors on 8 April 2025. These figures are identical to the preliminary 2024 accounts published as part of the Reach Subsea ASA fourth quarter 2024 report on 12 February 2025.
In 2024, Reach Subsea delivered record-high revenues of NOK 2.7 billion and maintained strong EBIT margins. All HSEQ goals were met with no serious incidents, and 70% of ESG targets were achieved. Operationally, we increased capacity, secured long-term fleet agreements, and stayed on track for the 2025 launch of Reach Remote USVs.
"Continuing our long-term focus on delivering high-quality, sustainable services in the ocean space, we achieved record results in 2024—more than doubling our revenues over the past two years while maintaining strong and consistent margins," said Jostein Alendal, CEO of Reach Subsea.
The Board proposes a dividend of NOK 0.42 (0.36) per share, in line with the company’s dividend policy, to be resolved at the AGM on 28 May 2025. The Notice of the Company's Annual General Meeting will be distributed to shareholders in a separate announcement.
The Reach Subsea ASA Annual and Sustainability Report 2024, along with the company’s annual financial statements in European Single Electronic Format (ESEF), is enclosed and available on the company's website.
For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no
About Reach Subsea
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad, Brazil and Australia. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jorunn Håvardsholm, Communications and Marketing Director at Reach Subsea AS on the time and date provided.