Reach Subsea reports weaker Q3 amid remote technology investment

Reach Subsea ASA reported Q3 2025 revenue of NOK 688 million, down from NOK 835 million in Q3 2024, with an EBIT of NOK 51 million (Q3 2024: NOK 134 million). The weaker results are primarily attributed to lower-than-expected vessel utilization due to a market slowdown and extraordinary implementation costs related to its Reach Remote concept, although these investments are seen as crucial for long-term strategy. The company's vision of "Sustainable access to ocean space" underpins its commitment to creating a sustainable future, driving safe and innovative subsea operations.

The company is progressing with its robotization strategy, with Reach Remote 1 and 2 operational across multiple time zones and orders placed for units 3 and 4. This expansion is expected to enhance efficiency and solidify the business model. The order backlog stands at NOK 1.05 billion, and the tender volume is NOK 9 billion, indicating strong market interest in the Reach Remote concept and increasing USV-related tenders. Reach Subsea remains well-positioned for further investments in Reach Remote and technology updates, supported by strong liquidity and an equity ratio of approximately 35%.