Reach Subsea ASA – Annual and Sustainability Report 2024

30 Apr 2025 13:16 CEST

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. 

More information:
Access the news on Oslo Bors NewsWeb site

644927_REACH-2024-12-31-en.zip
644927_Reach Subsea ASA_Annual and Sustainability Report 2024.pdf