Haugesund, 26 August 2025: Reach Subsea ASA announces its second quarter and half-year 2025 results, demonstrating a solid but not record-breaking quarter. Revenue for the quarter stands at NOK 684 million (623 million) and the EBIT at NOK 91 million (121 million).
The half-year results 2025 are all-time high with revenues standing at NOK 1 383 million (1 196 million) and the EBIT at NOK 159 million (150 million), primarily explained by the strong first quarter.
"Global uncertainty is influencing customer behavior and slowing some decision-making. Our second quarter is impacted by these dynamics. Although these patterns are likely to persist throughout 2025 we believe the outlook is sound and we are confident that our strategic path is addressing both the short-term and long-term demand", said CEO of Reach Subsea, Jostein Alendal.
Reach Subsea’s commitment to the robotization of the subsea industry remains strong. Reach Subsea’s USV, Reach Remote 1, successfully completed a pilot project earlier this year proving the Reach Remote capabilities. Reach Remote 1 has continued with commercial operations in the North Sea since. Meanwhile, Reach Remote 2 has prepared for its own journey also set up for commercial operations.
"Reach Remote 1 and 2 are now part of our operational fleet. Reach Remote 1 has demonstrated her capabilities with the remote concept firmly proven in the successful pilot earlier this year. The development of new use cases is accelerating hand in hand with Reach Remote utilized in commercial campaigns", said CEO of Reach Subsea Jostein Alendal.
Technology development is at the core of Reach Subsea’s strategy — from transforming subsea operations with Reach Remote, to Reach Horizon, a central platform for managing and overseeing remote operations, and to adopting new technologies that continuously enhance quality and efficiency. The company plans for continued investments, supported by the successful NOK 500 million bond placement announced in early July.
Reach Subsea's order backlog stands at NOK 1.15 billion and the tender volume stands at 8 billion.
2Q 2025 highlights:
- Weaker 2Q than last year driven by lower than expected utilisation of assets.
- All time high turnover and EBIT for the first half of 2025.
- Reach Remote – now a proven solution in commercial operation, redefining subsea operations.
- Successful NOK 500 million bond placement provides capital for fleet expansion and strategic investments.
- The outlook remains sound, with a backlog of NOK 1.15 billion and tender volume of NOK 8 billion, as expected in a cautious market.
-ENDS-
QUARTERLY PRESENTATION
Reach Subsea’s CEO Jostein Alendal and CFO Birgitte Wendelbo Johansen will host a webcast presentation of the results in English today at 9:30 CET.
Questions may be submitted during the presentation through the webcast player.
Webcast link: https://channel.royalcast.com/landingpage/hegnarmedia/20250826_3/
The report and presentation will be made available at https://reachsubsea.no and www.newsweb.no.
A recorded version of the presentation will be available after the live stream is concluded.
For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no
About Reach Subsea
Reach Subsea delivers its services through a versatile fleet of vessels, including survey, IMR, construction support, and remote vessels. Our teams operate worldwide, providing inspection, maintenance, construction support, survey and data services across multiple industries, supporting clients throughout every stage of their project lifecycles. Our offshore teams are powered by advanced ROV technology and backed by onshore engineering expertise, turning complex ocean challenges into reliable solutions. With over 500 skilled professionals and offices in Norway, Sweden, the UK, the US, Brazil, Trinidad, Australia, and Singapore, our vision—'Sustainable access to ocean space’—drives safe, innovative, and sustainable subsea operations.
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.