Reach Subsea has announced its first quarter 2025 results, demonstrating another record quarter. Revenue for the quarter stands at NOK 699 million (575 million) and the EBIT at NOK 68 million (29 million).
'We achieved another record-breaking first quarter at Reach Subsea. We are performing well, aligning with our strategy to grow while maintaining healthy margins. That being said, global uncertainties also require high awareness and agility – something we remain focused on to continue delivering value', 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, is currently undergoing a pilot as part of a technology qualification program in collaboration with Equinor, TotalEnergies, and other major energy partners. Meanwhile, Reach Remote 2 is in the commissioning phase, incorporating insights from the ongoing pilot.
'The pilot program with Reach Remote 1 is ongoing, and we are in the process of completing the full task program. The results so far have been very positive, highlighting our ability to successfully execute the work remotely. We are now simultaneously preparing her for commercial operations', said CEO of Reach Subsea Jostein Alendal.
To support these advancements, the company has developed Reach Horizon, a central platform for managing and overseeing remote operations. This system is now being utilized across the Reach Subsea fleet, including for the Reach Remote 1 pilot program, with external client representatives also involved.
1Q 2025 highlights (1Q 2024):
- All time high 1Q revenue and profitability driven by growth, strong market conditions and successful project execution.
- Revenue for 1Q2025 was NOK 698.7 million (NOK 575.3 million).
- EBIT for 1Q2025 was NOK 68.2 million (NOK 28.7 million), while pre- tax result was NOK 67.2 million (NOK –8.9 million).
- Strong outlook as evidenced by a steady backlog of NOK 1.3 billion and tender volume of NOK 10.0 billion.
Source: Reach Subsea
