REACH SUBSEA ASA
Sector unknown·REACH · Oslo Børs·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.
Oil
Raw materials and inputs
DriverPositive impact: strengthens
“Our Values 8 Reach Subsea | Annual Report 2024 Annual Report 2024 Contents Business Performance Sustainability Financial Statements Corporate Governance & Management Corporate Structure Our Focus Well-positioned Reach is perfectly positioned in a rapidly growing market driven by a strong oil & gas market as well as accelerating green energy transition, which will drive ocean-based activities for generations.”
Annual report 2024A · The company itself
Market
“Reach’s gWatch technology was commercialized in 2013. It is currently used on all large gas / oil & gas / condensate fields in Norway and is rapidly reaching other parts of the world.”
Annual report 2024A · The company itself
Market
“16 Reach Subsea | Annual Report 2024 Contents Sustainability Corporate Structure Financial Statements Corporate Governance & Management Annual Report 2024 Business Performance 2024 Market Highlights 17 Reach Subsea | Annual Report 2024 Annual Report 2024 Contents Sustainability Financial Statements Corporate Governance & Management Corporate Structure Business Performance Strong Growth and Diversification in 2024 Oil & Gas Renewable/Other Data Solutions Europe Americas Asia Oceania Expanding Revenues and Services Reach Subsea has once again increased its annual revenues, driven by a growing and diverse service portfolio across our three key segments: Subsea Services, Survey, and Monitoring.”
Annual report 2024A · The company itself
Market
“In 2024, approximately one-third of our revenue came from projects in the Renewable/Other sector, with the remaining two-thirds from Oil & Gas-related projects.”
Annual report 2024A · The company itself
Market
“We support industries like oil & gas, offshore wind, offshore cables, and emerging markets such as carbon storage, environmental monitoring, and subsea minerals.”
Annual report 2024A · The company itself
Chains out: this strengthens Plastics and polymers
Renewables auctions and subsidies
Regulation
DriverPositive impact: strengthens
“Our Values 8 Reach Subsea | Annual Report 2024 Annual Report 2024 Contents Business Performance Sustainability Financial Statements Corporate Governance & Management Corporate Structure Our Focus Well-positioned Reach is perfectly positioned in a rapidly growing market driven by a strong oil & gas market as well as accelerating green energy transition, which will drive ocean-based activities for generations.”
Annual report 2024A · The company itself
Market
“In 2024, approximately one-third of our revenue came from projects in the Renewable/Other sector, with the remaining two-thirds from Oil & Gas-related projects.”
Annual report 2024A · The company itself
Market
“Renewables Awarded several contracts within the renewables market, including cable/route survey, installation, walk to work, light construction and decommissioning.”
Annual report 2024A · The company itself
Market
“We support industries like oil & gas, offshore wind, offshore cables, and emerging markets such as carbon storage, environmental monitoring, and subsea minerals.”
Annual report 2024A · The company itself
Chains in: Wind power strengthens
Automation and robotics
Technology
StrategyPositive impact: strengthens
“The future is autonomous Our ambition is to be at the frontier with regards to technology development, and in 2025 we will launch our first two autonomous offshore support vessels under the name Reach Remote.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“In this context, our focus on remote, over-the-horizon technologies is increasingly relevant. The rising costs of conventional subsea operations highlight the value of cost-efficient solutions like Reach Remote.”
Annual report 2024A · The company itself
Market
“Scheduled for deployment under the Norwegian Flag, these vessels are poised to revolutionize offshore subsea operations, aligning with sustainability initiatives. Reach Remote offers secure, eco-friendly, and cost-effective solutions for global subsea inspection, survey, and intervention services.”
Annual report 2024A · The company itself
Market
“31 Reach Subsea | Annual Report 2024 Annual Report 2024 Contents Sustainability Financial Statements Corporate Governance & Management Corporate Structure Business Performance Remote vessels Reach Subsea DRIX (Orca 1 and Orca 2) The DRIX is an 8-meter-long remotely controlled/autonomous survey vehicle designed for high-quality hydrographic surveys in shallow waters. Equipped with advanced sensors and multi-redundant communication systems, it ensures precise data collection and real-time transmission. Its modular design enables versatile payload integration, supporting a range of missions from seabed mapping to subsea inspections.”
Annual report 2024A · The company itself
Artificial intelligence
Technology
StrategyPositive impact: strengthens
“The future is autonomous Our ambition is to be at the frontier with regards to technology development, and in 2025 we will launch our first two autonomous offshore support vessels under the name Reach Remote.”
Annual report 2024A · The company itself
Market
“We support industries like oil & gas, offshore wind, offshore cables, and emerging markets such as carbon storage, environmental monitoring, and subsea minerals.”
Annual report 2024A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Electrification
Technology
Market
“Scheduled for deployment under the Norwegian Flag, these vessels are poised to revolutionize offshore subsea operations, aligning with sustainability initiatives. Reach Remote offers secure, eco-friendly, and cost-effective solutions for global subsea inspection, survey, and intervention services.”
Annual report 2024A · The company itself
Chains out: this strengthens Electricity, strengthens Power grid expansion, strengthens Copper
Energy efficiency
Technology
StrategyPositive impact: strengthens
“Suppliers are encouraged to reduce their environmental footprint and are committed to achieve energy efficiency.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices strengthens, EU climate and energy policy strengthens
Labour and wages
Raw materials and inputs
StrategyPositive impact: strengthens
“To position ourselves for continued growth, we have taken key steps: • Technology & Remote Operations Developing tools that enhance remote services across both our conventional fleet and Reach Remote USVs, increasing efficiency and expanding service offerings. • Fleet & Equipment Investments Securing long-term vessel charters and making strategic upgrades to our subsea equipment pool, ensuring we remain agile and well-equipped. • Organizational Strength Key recruitments have strengthened our ability to execute projects in an increasingly complex market.”
Annual report 2024A · The company itself
M&A and consolidation
Macro
StrategyPositive impact: strengthens
“Expanding for the future Our strategy is to take even larger parts of the value chain, and after the acquisitions and successful integration of iSurvey and Octio in 2021 and 2022 and Guardian Geomatics in 2023, Reach has the capabilities to capture and process geophysical data, refining it into valuable input for our customers decision processes.”
Annual report 2024A · The company itself
Utilities
End markets
Market
“In 2024, approximately one-third of our revenue came from projects in the Renewable/Other sector, with the remaining two-thirds from Oil & Gas-related projects.”
Annual report 2024A · The company itself
Energy security
Regulation
DriverMixed impact: mixed
“Reach Subsea is well-positioned to navigate this evolving landscape, with strong investments across ocean space sectors. We support industries like oil & gas, offshore wind, offshore cables, and emerging markets such as carbon storage, environmental monitoring, and subsea minerals.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens, Reconstruction of Ukraine strengthens
Chains out: this strengthens Wind power, strengthens Power grid expansion
Geopolitical uncertainty
Macro
DriverMixed impact: mixed
“Reach Subsea is well-positioned to navigate this evolving landscape, with strong investments across ocean space sectors. We support industries like oil & gas, offshore wind, offshore cables, and emerging markets such as carbon storage, environmental monitoring, and subsea minerals.”
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
Asia and emerging markets
Geography
Geography
“International activity Increased international presence with offices in Australia, Singapore and Aberdeen as well as contract awards in the US, Brazil, Trinidad and Tobago and other regions.”
Annual report 2024A · The company itself
Geography
“Global Expansion Our operations span across Europe, the Americas, Asia, and Oceania, reflecting our strong international presence.”
Annual report 2024A · The company itself
United States
Geography
Geography
“International activity Increased international presence with offices in Australia, Singapore and Aberdeen as well as contract awards in the US, Brazil, Trinidad and Tobago and other regions.”
Annual report 2024A · The company itself
Geography
“Global Expansion Our operations span across Europe, the Americas, Asia, and Oceania, reflecting our strong international presence.”
Annual report 2024A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Europe
Geography
Geography
“Global Expansion Our operations span across Europe, the Americas, Asia, and Oceania, reflecting our strong international presence.”
Annual report 2024A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 2.72 bn NOK |
| Revenue growth vs. the year before, same method | 38.2 % |
| EBITDA reported by the company | 1.17 bn NOK |
| Net debt debt incl. leasing minus cash | 1.28 bn NOK |
| Diluted EPS per share | 0.68 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | ✓ |
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.