NORTH ENERGY ASA
Sector unknown·NORTH · Euronext Expand Oslo·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Utilities
End markets
Market
“Reach Subsea ASA (“Reach Subsea”) is a company listed on Oslo Stock Exchange which has the objective to become a leading subsea service provider, offering solutions to survey the seabed and solutions for maintaining the integrity of the client’s subsurface equipment and infrastructure.”
Annual report 2024A · The company itself
Market
“A technology qualification program was entered into with Equinor, TotalEnergies, and several other energy companies. Through this program, the participating energy companies will fund execution of several subsea work scopes utilising Reach Remote, thereby qualifying the solution.”
Annual report 2024A · The company itself
Market
“After year-end, the Company made a new investment in senior secured bonds issued by Petrofac Limited (“Petrofac”). Petrofac is a UK listed energy services company that delivers services and EPC projects to energy clients globally.”
Annual report 2024A · The company itself
Market
“Investment in Wind Catching Systems AS Wind Catching Systems AS (“Wind Catching Systems”) is a developer of floating offshore wind technology and intends to enable offshore wind operators and developers to produce electricity at a cost that competes with other energy sources, without subsidies.”
Annual report 2024A · The company itself
EU climate and energy policy
Regulation
DriverPositive impact: strengthens
“Wind Catching Systems continued making good progress in developing its innovative solution for floating offshore wind production and attracted further financial support through additional grants from Enova.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“In October the EU Innovation Fund announced that it had granted Reach EUR 14.3 million under the Net Zero Technologies Initiative to support the scale-up of the Reach Remote project.”
Annual report 2024A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Automation and robotics
Technology
Market
“Reach Subsea has continued the development of the Reach Remote project, a new innovative solution for providing subsea services on a remote and autonomous basis, with several landmark events taking place during the year. A technology qualification program was entered into with Equinor, TotalEnergies, and several other energy companies.”
Annual report 2024A · The company itself
Digitalisation
Technology
Market
“Reach Subsea has continued the development of the Reach Remote project, a new innovative solution for providing subsea services on a remote and autonomous basis, with several landmark events taking place during the year. A technology qualification program was entered into with Equinor, TotalEnergies, and several other energy companies.”
Annual report 2024A · The company itself
Chains in: Cybersecurity (products and services) strengthens, Public investment and infrastructure strengthens
Chains out: this strengthens IT consulting and public-sector IT
Electrification
Technology
Market
“Investment in Wind Catching Systems AS Wind Catching Systems AS (“Wind Catching Systems”) is a developer of floating offshore wind technology and intends to enable offshore wind operators and developers to produce electricity at a cost that competes with other energy sources, without subsidies. The company is currently developing floating multi-turbine technology (“WCS concept”) that is expected to cut acreage use by more than 80% and increase efficiency significantly in comparison to conventional floating offshore wind farms.”
Annual report 2024A · The company itself
Chains out: this strengthens Electricity, strengthens Power grid expansion, strengthens Copper
Wind power
Technology
Market
“Investment in Wind Catching Systems AS Wind Catching Systems AS (“Wind Catching Systems”) is a developer of floating offshore wind technology and intends to enable offshore wind operators and developers to produce electricity at a cost that competes with other energy sources, without subsidies. The company is currently developing floating multi-turbine technology (“WCS concept”) that is expected to cut acreage use by more than 80% and increase efficiency significantly in comparison to conventional floating offshore wind farms.”
Annual report 2024A · The company itself
Chains in: Interest rates weakens, Energy security strengthens
Chains out: this strengthens Steel, strengthens Rare earths and critical raw materials, strengthens Renewables auctions and subsidies, strengthens Power grid expansion
Equity and capital markets
Macro
DriverPositive impact: strengthens
“The Reach share has during the year provided a total return, including dividends, of 83%, equivalent to a value contribution of NOK 190.1 million to North Energy.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Additionally, financial market volatility and potential market corrections could disrupt economic stability.”
Annual report 2024A · The company itself
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“Additionally, geopolitical tensions and trade disruptions, particularly in commodities like oil, created uncertainties and volatility in global markets. The ongoing conflict between Russia and Ukraine continued to be a major source of instability, with Russia intensifying its military efforts and Ukraine struggling to maintain international support.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“However, several risks could impact this outlook, including geopolitical tensions, persistent inflation in certain sectors, and policy uncertainty.”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Inflation
Macro
DriverNegative impact: weakens
“In 2024, the global economy was significantly impacted by persistent inflation in the services sector, which complicated efforts to normalize monetary policy. This inflationary pressure led to higher interest rates for a longer period, affecting consumer spending and business investments.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“However, several risks could impact this outlook, including geopolitical tensions, persistent inflation in certain sectors, and policy uncertainty.”
Annual report 2024A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Interest rates
Macro
DriverNegative impact: weakens
“In 2024, the global economy was significantly impacted by persistent inflation in the services sector, which complicated efforts to normalize monetary policy. This inflationary pressure led to higher interest rates for a longer period, affecting consumer spending and business investments.”
Annual report 2024A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
Business cycle and GDP growth
Macro
DriverNegative impact: weakens
“While advanced economies like the United States saw upgrades in their growth forecasts, other regions, especially in Europe and emerging markets, faced downgrades due to various disruptions.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“The global economic outlook for 2025 is cautiously optimistic, with projected growth of 3.3% and a decline in global headline inflation to 4.2%.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“These included conflicts, civil unrest, and extreme weather events, which hindered production and shipping.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Trade tensions and environmental risks, such as climate change, also pose significant challenges.”
Annual report 2024A · The company itself
Chains out: this weakens Agriculture and food production
Tariffs and trade policy
Macro
DriverMixed impact: mixed
“Additionally, geopolitical tensions and trade disruptions, particularly in commodities like oil, created uncertainties and volatility in global markets.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Trade tensions and environmental risks, such as climate change, also pose significant challenges.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Europe
Geography
DriverNegative impact: weakens
“While advanced economies like the United States saw upgrades in their growth forecasts, other regions, especially in Europe and emerging markets, faced downgrades due to various disruptions.”
Annual report 2024A · The company itself
Oil
Raw materials and inputs
DriverMixed impact: mixed
“Additionally, geopolitical tensions and trade disruptions, particularly in commodities like oil, created uncertainties and volatility in global markets.”
Annual report 2024A · The company itself
Chains out: this strengthens Plastics and polymers
Sea freight and freight rates
Raw materials and inputs
InputNegative impact: weakens
“During the year, Reach Subsea took several steps towards securing vessel capacity and upgrading and enhancing its pool of subsea equipment and technologies. Charters were entered into, and extended, for the subsea vessels Olympic Taurus and Havila Subsea, securing visibility into 2028.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Semiconductors and electronic components
Raw materials and inputs
InputNegative impact: weakens
“Further engineering work has been performed in 2024 with key focus areas being marine engineering and equipment design in partnership with Tier 1 equipment providers to optimise the operating performance of the unit.”
Annual report 2024A · The company itself
Chains in: Artificial intelligence strengthens
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0 bn NOK |
| Revenue growth vs. the year before, same method | 25 % |
| EBITDA reported by the company | 0.06 bn NOK |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 0.5 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (NOK), not converted to DKK. Quotes are shown as the company's own words in the report's original language.