Reach Subsea ASA – 2Q 2025: Impacted by a cautious market

26 Aug 2025 07:00 CEST

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.

More information:
Access the news on Oslo Bors NewsWeb site

653795_Reach Subsea ASA 2Q 2025 Presentation.pdf
653795_Reach Subsea ASA 2Q 2025 Report.pdf