Reach Subsea Asa · OSL:REACH
Reach Subsea Asa — Q4 2024 Earnings Presentation
16 slides from Reach Subsea Asa's earnings presentation, Feb 13, 2025
Slide 1: Quarterly Consolidated Presentation Q4 2024
Q4 Q3 2024 2024 Everything within Reach Quarterly Consolidated Presentation Sustainable access to ocean space Jostein Alendal, CEO | Birgitte Wendelbo Johansen, CFO | 13 February 2025 Find out more at reachsubsea.com
Slide 2: Disclaimer
4th Quarter 2024 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
4th4th Quarter 2024 Quarter 2024 9 Reach Subsea confirming steady progress Another record year and a strong 4Q in terms of activity level and operating results driven NOK 685 million by growth, strong market conditions and Revenue Q4 2024 successful project execution. EBIT for Q4 in line with last y
Slide 4: Vessel capacity for long-term growth
4th4th Quarter 2024 Quarter 2024 9 Vessel capacity for long-term growth Order backlog +0% 1600 1500 1300 1200 1200 740 815 690 590 440 *Does not include options and expected call- off extensions under frame agreements Outstanding tender volume NOK 9 billion (NOK 8 billion) Whole fleet now equipped f
Slide 5: Keeping the fleet busy: Strong utilization across vessels
4th4th Quarter 2024 Quarter 2024 9 Keeping the fleet busy: Strong utilization 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 Orca 1 and 2 A large ship in the
Slide 6: Reach Remote
4th4th Quarter 2024 Quarter 2024 18 Reach Remote We will include film clips from Reach Remote and Reach Horizon in the live presentation. Reach Subsea | Quarterly Consolidated Report Sustainability Finance Financial Statements
Slide 7: Steady Progress for Reach Remote 1 & 2
4th4th Quarter 2024 Quarter 2024 Steady Progress for Reach Remote 1 & 2 Proving the capabilities of the Pilot program vessel Joint Industry •Seabed mapping Project •Pipeline inspection •Subsea structure inspection •ROV intervention •Reservoir modelling by gravimetry measurements Highlights Q4 Succes
Slide 8: Financials
4th Quarter 2024 Financials Reach Subsea | Quarterly Consolidated Report
Slide 9: Q4 2024 Highlights
4th Quarter 2024 Q4 2024 Highlights • Strong Q4 quarter leveraged by global operations • Q4 revenue at NOK 685 million • Order backlog remaining strong at NOK 1.2 billion Revenue NOK 685 million (NOK 474 million) EBIT NOK 80 million (NOK 80 million) Pre-tax profit NOK 13 million (NOK 81 million) Cas
Slide 10: Revenue and EBIT growing to record levels
4th Quarter 2024 Revenue and EBIT growing to record levels Rolling 12-month Revenue (MNOK) Rolling 12-month EBIT and Pre-tax profit (MNOK) 3000 400 2750 350 2500 300 2250 250 2000 200 1750 1500 150 1250 100 1000 50 750 0 500 -50 250 0 -100 2018 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022
Slide 11: Q4 2024 Key developments
4th Quarter 2024 Q4 2024 Key developments Revenue mix by sector Revenue mix by segment Revenue mix by geography +44% +44% +44% 800 474 685 800 474 685 474 685 • 44 percent revenue increase for the quarter driven by 800 700 700 700 • Increased number of 600 600 600 176 project days 257 500 500 500 •
Slide 12: Positioned for growth
4th Quarter 2024 Positioned for growth Solid financial position (MNOK) • Strong liquidity and equity 1 092 positions 1 028 • Well-positioned for further 928 938 931 investments in Reach Remote and technology updates 579 414 374 350 331 315 287 257 210 207 160 148 145 130 94 94 70 68 40 26 31 28 2019
Slide 13: Sustainability in REACH
4th Quarter 2024 Sustainability in REACH Environment Social Governance Increase activity CO2 footprint below Lost time incidents Zero work-related 90% completion of 90% completion of within non –Oil & Gas NSA relevant emission (LTI) 0% injuries cyber security Code of Conduct and segment targets awar
Slide 14: Summary
4th Quarter 2024 Summary Reach Subsea | Quarterly Consolidated Report
Slide 15: Positioned for continued growth and value creation, globally
4th Quarter 2024 Positioned for continued growth and value creation, globally 1. ATTRACTIVE MARKET OUTLOOK High investments in Oil and renewable energy set to continue for years 2. POSITIONED FOR FURTHER Haugesund, Bergen, Oslo GROWTH Aberdeen Expanded service offering, expanded long- term vessel ca
Slide 16: Q&A
4th Quarter 2024 Q&A Reach Subsea | Quarterly Consolidated Report