Reach Subsea Asa · OSL:REACH
Reach Subsea Asa — Q1 2025 Earnings Presentation
17 slides from Reach Subsea Asa's earnings presentation, May 8, 2025
Slide 1: Quarterly Consolidated Presentation
1Q 2025 Q3 2024 Everything within Reach Quarterly Consolidated Presentation Sustainable access to ocean space Jostein Alendal, CEO | Birgitte Wendelbo Johansen, CFO | 08 May 2025 Find out more at reachsubsea.com
Slide 2: Disclaimer
1st Quarter 2025 Disclaimer IMPORTANT – You must read the following before The Information has been prepared by the future business strategies and the environment in This presentation contains statistics, data, continuing. The following applies to this document, Company, and no other party accepts a
Slide 3: Reach Subsea confirming steady progress
1st Quarter 2025 1st Quarter 2025 9 Reach Subsea confirming steady progress All time high 1Q revenue and profitability driven by growth, strong market conditions NOK 699 million and successful project execution. Revenue 1Q 2025 Revenue for 1Q2025 was NOK 698.7 million (NOK 575.3 million). NOK 68 mil
Slide 4: Vessel capacity for long-term growth
1st Quarter 2025 1st Quarter 2025 9 Vessel capacity for long-term growth Order backlog 0% 1600 1500 1300 1300 1200 1200 740 815 690 590 440 *Does not include options and expected call- off extensions under frame agreements Outstanding tender volume NOK 10 billion (NOK 10 billion) Entire fleet equipp
Slide 5: Keeping the fleet busy: Strong utilisation across vessels
1st Quarter 2025 1st Quarter 2025 9 Keeping the fleet busy: Strong utilisation across vessels A large ship in the water A large ship in the water Description automatically generated Description automatically generated Viking Reach Havila Subsea Deep Cygnus Go Electra Survey, IMR and Light Constructi
Slide 6: The progress for Reach Remote 1 & 2
1st 1st Quarter 2025 Quarter 2025 The progress for Reach Remote 1 & 2 Proving the capabilities of the vessel • Seabed mapping Pilot program • Pipeline inspection Joint Industry • Subsea structure inspection Project • ROV intervention • Reservoir modelling by gravimetry measurements Highlights 1Q Del
Slide 7: Reach Remote
1st Quarter 2025 1st Quarter 2025 18 Reach Remote Film clips – a summary of the Reach Remote 1 pilot phase. Reach Subsea | Quarterly Consolidated Report Sustainability Finance Financial Statements
Slide 8: Reach Remote Showcases Next-Generation Maritime and Subsea Robotization
1st Quarter 2025 Reach Remote 1 Showcases Next-Generation Maritime and Subsea Robotization Successful pilot with Reach Remote 1 Commercial Projects Scaling up the Reach Remote fleet Humans and Technology Reach Remote 1 and 2 are now joining our With the Reach Remote 1 & 2 concept Reach Subsea are co
Slide 9: Financials
1st Quarter 2025 Financials Reach Subsea | Quarterly Consolidated Report
Slide 10: Q1 2025 Highlights
1st Quarter 2025 Q1 2025 Highlights • Strong 1Q quarter leveraged by global operations • 1Q revenue at NOK 699 million • Order backlog remaining strong at NOK 1.3 billion Revenue NOK 699 million (NOK 575 million) EBIT NOK 68 million (NOK 29 million) Pre-tax profit NOK 67 million (NOK -9 million) Cas
Slide 11: Revenue and EBIT growing to record levels
1st Quarter 2025 Revenue and EBIT growing to record levels Rolling 12-month Revenue (MNOK) Rolling 12-month EBIT and Pre-tax profit (MNOK) 3000 450 2750 400 2500 350 2250 300 2000 250 1750 1500 200 1250 150 1000 100 750 50 500 0 250 0 -50 2018 2019 2020 2021 2022 2023 2024 2025 2018 2019 2020 2021 2
Slide 12: 1Q 2025 Key developments
1st Quarter 2025 1Q 2025 Key developments Revenue mix by sector Revenue mix by segment Revenue mix by geography +22% +22% +22% 800 575 699 800 575 699 575 699 • 22 percent revenue increase for the quarter driven by 800 700 700 700 31 • Increased number of 107 600 600 600 177 project days 500 500 500
Slide 13: Positioned for growth
1st Quarter 2025 Positioned for growth Solid financial position (MNOK) 1 292 1 092 • Strong liquidity and equity 1 028 positions 928 938 931 • Capital increase from Warrants being exercised into new shares. • Well-positioned for further investments in Reach Remote and technology updates 579 554 414
Slide 14: Sustainability in REACH
1st Quarter 2025 Sustainability in REACH Environment Social Governance Increase proportion of Ensure operational Lost time incidents Zero work-related Strong corruption and Enhance fleet classified as maturity of remote (LTI) at 0 (INCA injuries (IMCA bribery resilience cybersecurity unmanned/modern
Slide 15: Summary
1st Quarter 2025 Summary Reach Subsea | Quarterly Consolidated Report
Slide 16: Positioned for continued growth
1st Quarter 2025 Positioned for continued growth ATTRACTIVE MARKET OUTLOOK POSITIONED FOR GROWTH STRONG MARGINS Well-positioned in a dynamic market, Expanded service offerings, long-term Strong execution, proven track record in navigating uncertainty with adaptability. vessel capacity, and a global
Slide 17: 1st Quarter 2025 Q&A
1st Quarter 2025 Q&A Reach Subsea | Quarterly Consolidated Report