Reach Subsea (REACH)

[Saksa]

Urolige tider som gjør de kortsiktige nervøse, er ned 20% fra toppen, ikke noe fundamentalt er endret, mye nytt fra selskapet som burde styrke aksjen, men pga ovennevnte gir dette i allefall mulig gode innganger BULL

[Kjoerpaa]

Takk for svar.

[Saksa]

Så denne på en morgenrapport i dag :

REACH SUBSEA: Arctic øker kursmålet til NOK 5,5 (5), gjentar kjøp.

Bra de har troa

[TekBot]

Reach Subsea ASA – Final results of the Subsequent Offering

Reach Subsea ASA – Final results of the Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
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Haugesund, 28 March 2023: Reference is made to the stock exchange announcement published by Reach Subsea ASA (“Reach” or the “Company”) (Oslo Børs: REACH) on 12 March 2023 regarding the commencement of a subsequent offering (the “Subsequent Offering”) and registration of a national prospectus dated 10 March 2023 (the “Prospectus”).

The subscription period expired on 27 March 2023 at 16:30 (CET). By the end of the subscription period, the Company had received valid subscriptions for 312,635 Offer Shares in the Subsequent Offering. The Company’s board of directors has today resolved that a total of 312,635 Offer Shares will be allocated based on subscription rights in accordance with the allocation criteria set out in the Prospectus.

The Company will raise NOK 1,328,698.75 in gross proceeds through the Subsequent Offering.

Notifications of allocated Offer Shares in the Subsequent Offering and the corresponding amount to be paid by each subscriber will be available via each subscriber’s VPS account on or about 28 March 2023. The due date for payment of the Offer Shares is on 30 March 2023.

Subject to duly payment of the Offer Shares by the subscribers, the share capital increase relating to the Subsequent Offering is expected to be registered with the Norwegian Register of Business Enterprises on or about 4 April 2023 and the Offer Shares will be delivered to the VPS accounts of the subscribers to whom they are allocated on or about 5 April 2023.

This information is subject to a duty of disclosure pursuant to the Company’s continuing obligations as a company listed on Oslo Børs.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers subsea services as a subcontractor and/or directly to end clients, based out of our head office in Haugesund. The core business of the Group is based on modern, high spec Work ROVs operated by highly-qualified offshore personnel, and supported by onshore engineering resources. The Group’s objective is to be a preferred subsea partner and full-service provider of subsea operations for clients, focusing on safety, environment, financial solidity and profitability. www.reachsubsea.no

Kilde

[TekBot]

Reach Subsea – Annual Report and Sustainability Report 2022

Haugesund, 31 March 2023 – Reach Subsea ASA has today published its Annual Report and Sustainability Report for 2022.

The annual accounts and reports were approved by the Board of Directors on the 28 March 2023. The numbers are identical to the preliminary 2022 accounts published as part of the Reach Subsea ASA fourth quarter 2022 report published 14 February 2023.
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“2022 was a tremendous year for Reach Subsea. Not only did we reach record high revenue and operation profit, but we also broadened our offering through the successful integration of iSurvey and Octio, secured a long-term core fleet on highly attractive terms, strengthened our balance sheet, entered a strategic partnership with Wilhelmsen and advanced our Reach Remote project, which is bringing us into the robotic future,” said CEO of Reach Subsea Jostein Alendal.

Reach Subsea is well positioned in a rapidly growing market driven by high activity in the oil & gas sector as well as an accelerating green energy transition.

“We have a solid growth outlook both short- and long-term. Our order backlog, counted from the start of 2023, is NOK 780 million, 7 times higher than one year earlier. With a complete subsea offering and state of the art technology, we are ready and able to capture the market opportunities with a renewed and cost-effective fleet,” said Jostein Alendal.

According to Reach Subsea’s Sustainability report, 14 of the company’s 16 sustainability goals were achieved in 2022.

“As a company working on and below our beautiful oceans with a significant oil & gas related activity, a credible and ambitious sustainability strategy is essential to be able to attract talent, customers, and capital. Our ambitions for the years to come are high, and we are proud to be one of the leading forces in the industry when it comes to remote operations and robotization. Our two first Reach Remote unmanned surface vessels are expected to be launched towards the end of this year. With 90 percent lower emissions than a traditional vessel, Reach Remote will be a strong contributor to the net zero emission goal both we and our customers are working towards,” said Jostein Alendal.

As described in the Reach Subsea ASA fourth quarter 2022 report, the Board proposes a dividend of NOK 0.18 per share, in accordance with the company’s dividend policy, to be resolved at the Annual General Meeting on 31 May 2023. The Notice of the Company’s Annual General Meeting will be sent to the shareholders in a separate announcement.

“Reach Subsea ASA Annual Report 2022” and “Reach Subsea ASA Sustainability Report 2022” and the company’s annual financial statements in European Single Electronic Format (ESEF) follow enclosed and are also available on the Company’s website.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

www.reachsubsea.no

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. The information was submitted for publication by CFO Birgitte Wendelbo Johansen, on behalf of the Company at the date and time set out above.

Kilde

[TekBot]

Reach Subsea ASA – New share capital registered

Reach Subsea ASA – New share capital registered

Haugesund, 3 April 2023: Reference is made to the stock exchange notice published by Reach Subsea ASA (“Reach” or the “Company”) (Oslo Børs: REACH) on 28 March 2023 regarding the completion of a subsequent offering (the “Subsequent Offering”) of new shares in the Company.
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The Subsequent Offering consists of 312,635 new shares in the Company. The new shares resolved issued by the Company’s Board of Directors on 28 March 2023 pursuant to a board authorization granted by the extraordinary general meeting in the Company on 10 March 2023, have now been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 255,449,563.00 divided into the equivalent number of shares, each with a nominal value of NOK 1.
The information was submitted for publication by CFO Birgitte Wendelbo Johansen, on behalf of the Company at the date and time set out above.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

www.reachsubsea.no

Kilde

[Christian]

Yara to start operating the world’s first fully emission-free container ship...

Gammel sak, men forklarer jo hvorfor CEO-en i Reach er så komfortabel med USV-ene KOG bygger for dem.

[torsteinius]

Reach Subsea on LinkedIn: Welcoming Cleiver Moulin to the Reach Subsea Group

Reach Subsea on LinkedIn: #reachremote #reachsubsea #autonomous...

Reach Subsea on LinkedIn: The sun is shining in Haugesund🌞 Many are touring...

[TekBot]

Reach Subsea – Five months plus options offshore wind contract with tier one renewable energy company

Haugesund, 2 May 2023 - Reach Subsea ASA, the trusted data and subsea service provider for ocean-based industries, has been awarded a five months plus options contract with a major renewable energy company for delivery of offshore wind related services.

The subsea vessel Deep Cygnus will be utilized on the project, which will commence project in early May 2023. With this fixture the Deep Cygnus has a significant contract coverage for the 2023 season.
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“The offshore wind market will be a great driver for Reach Subsea in the years to come, and the growth has just started. We are proud to once again have been given the trust form a tier one renewable energy company to deliver high-end services. The Deep Cygnus vessel has performed well in the renewables segment for many years, and we are happy for the continuation as part of the Reach Subsea fleet, said Jostein Alendal, CEO of Reach Subsea.

Reach Subsea last summer signed an agreement for the use of Deep Cygnus for 4 years with an option to extend for one year.

“The long-term Deep Cygnus charter is part of our strategy to secure significant high-quality vessel capacity for the coming years, preparing for growing demand for our service offerings in both the renewables- and oil & gas segments in the coming years,” said Jostein Alendal.

During the coming winter 2023/2024, Deep Cygnus will go into drydock for periodic maintenance and for battery installation during the winter 2023/2024 and be ready for the 2024 season with a significant reduction in fuel consumption and state of the art subsea equipment.

“In Reach Subsea we have clear short- and long-term targets for reduced emissions, and installation of batteries for electrical propulsion on Deep Cygnus will be another step in the right direction,” said Jostein Alendal.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Birgitte Wendelbo Johansen, Chief Financial Officer at Reach Subsea ASA on the time and date provided.

Kilde

[TekBot]

Invitation to presentation of the first quarter results for 2023

Invitation to presentation of the first quarter results for 2023

Haugesund, 05 May 2023 – Reach Subsea ASA will publish its financial results for the first quarter 2023 on Tuesday 9 May 2023 at 07:00 CEST. The company’s CEO Jostein Alendal and CFO Birgitte Wendelbo Johansen will host a webcast presentation of the results in English on the same day at 9:30 CET.
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Date: 09 May 2023
Time: 09:30 CEST
Link: https://channel.royalcast.com/webcast/hegnarmedia/20230509_4

The report and presentation will be made available at https://reachsubsea.no and www.newsweb.no.

A recorded version of the presentation will be available after the live stream is concluded. Participants will have the opportunity to submit questions online throughout the webcast session.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

This information was submitted for publication by CFO Birgitte Wendelbo Johansen, on behalf of the Company at the date and time set out above.

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

Kilde

[torsteinius]

Hvor skal Edda Sun/Viking Reach mon tro? https://www.marinetraffic.com/en/ais/home/shipid:312390/zoom:10
Lurer på om den er i arbeid allerede…

[Metallian]

Er den ikke på hyre for s7 da?

[Saksa]

Litt vanskelig å tracke aktiviteten, men ser frem til tirsdag 09/05 og 1Q resultatet, kommer nok mye info om ståa i selskapet da…

[torsteinius]

Jeg tenker Q1 blir OK, men tenker det løsner bra når de får de fjernstyrte ROVene sine, de første kommer vel ca i Q4. Da får de ned kostnadene betraktelig. Store skip som de leier idag vil erstattes med små fjernstyrte enheter som de eier og som gjør samme jobben med mindre mannskap.

Det er ikke ROVer som vi diskuterte lenger opp, men fjernstyrte enheter som har rover under seg. Usikker på hvor mange konkurrenter som har tilsvarende…

[TekBot]

Reach Subsea ASA – Q1 2023: Continued strong growth and record-high order book

Reach Subsea ASA – Q1 2023: Continued strong growth and record-high order book

Haugesund, 9 May 2023: Reach Subsea ASA, the trusted data and subsea service provider for ocean-based industries, today published record high revenue and and an improved EBIT for the first quarter of 2023. Revenue grew by 81 percent to NOK 234 million, and the order backlog grew 133 percent to a record-high NOK 815 million.
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“Reach Subsea is perfectly positioned in a market with strong growth in demand both within traditional oil and gas-related services and renewable energy. Our growth is enabled by a strong team, a fleet of top modern vessel fleet on financially attractive long-term charters, an upgraded equipment pool, and an end-to-end product and service offering,” said CEO of Reach Subsea Jostein Alendal.

The profitability of Reach Subsea was improved in the first quarter, which is seasonally soft in terms of utilization. Operating profit (EBIT) was negative NOK 8 million compared to negative NOK 38 million in Q1 2022. Pre tax profit was NOK 6 million compared to a loss of NOK 44 million in the same period in 2022.

“We have increased our capacity since last year, and I am happy to see that we increased our vessel utilization, which drives the margin improvement. During the first quarter, we have phased in several new vessels and spent time mobilizing and preparing them for the upcoming high season. The strong development in order backlog indicates continued strong growth, and high utilization going forward,” said Jostein Alendal.

So far this year, Reach Subsea has announced several major contracts both within oil and gas and offshore wind, including a three-year frame agreement with Equinor for work on the Norwegian continental shelf and internationally to 2026.

In 2024 Reach Subsea expects to launch its first two autonomous subsea support vessels, Reach Remote. Construction of the vessels, subsystems and control centers are progressing, and full-scale testing, certification, and client verification will commence early 2024.

“Robotics is the future in this industry. For a large range of tasks, we can use the small, cost-efficient Reach Remote support vessels with nearly no emissions. Our customer dialogue indicates great interest in the concept worldwide, and we expect to see Reach Remote ready for clients from the main season in 2024,” said Jostein Alendal.

Q1 2023 highlights (2022 figures in brackets):

• First quarter 2023 was characterized by seasonally lower utilization, and preparations for upcoming main season.
• EBIT for 1Q 2023 was NOK -8.4 million (NOK -37.7 million), while pre- tax result was NOK 5.6 million (NOK -44.3 million).
• Secured NOK 126.3 million in new equity in a private placement, and completed Viking Reach acquisition.
• On track with mobilizations, equipment upgrades and preparations for the main season in 2023 and the coming years with a fleet of top spec, modern vessels, ROVs and survey spreads.
• Strong market conditions across all sectors fuelled by high energy prices, increased focus on energy security, and structural growth in offshore renewables
• Order backlog increased further to record high level of NOK 815 million

-ENDS-

QUARTERLY PRESENTATION
Reach Subsea’s CEO Jostein Alendal and CFO Birgitte Wendelbo Johansen will host a webcast presentation of the results in English today at 9:30 CEST.

Questions may be submitted during the presentation through the webcast player.

Webcast link: https://channel.royalcast.com/webcast/hegnarmedia/20230509_4

The report and presentation will be made available at https://reachsubsea.no and www.newsweb.no.

A recorded version of the presentation will be available after the live stream is concluded.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Birgitte Wendelbo Johansen, Chief Financial Officer at Reach Subsea ASA on the time and date provided.

Kilde

[Christian]

Fint resultat for å være Q1. Normalt er Q1 veldig dårlig pga været i nordsjøen, men når de nå har prosjekter mange andre steder i verden, så blir resultatet relativt sett veldig bra. Greit å vite de ikke får en kjempeminus hver Q1 framover.

Fra Q4 2022 presentasjonen:

Fra Q1 2023

Vil si de holder skjemaet sånn mer eller mindre. Det var vel kanskje et spørsmål om de kunne rekke noe sent i Q4 2023.

[Christian]

CEO nevner, ved denne sliden at markedet blir “tighter and tighter, driving margins”

[TekBot]

Notice of Annual General Meeting

Notice of Annual General Meeting

The Annual General Meeting of Reach Subsea ASA will be held 31 May 2023 at 12:00 at Reach Subsea’s headquarters at Møllervegen 6, Haugesund, Norway.
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Please find attached Notice of Annual General Meeting, including notice of attendance and proxy forms.
Remuneration report and Nomination committee recommendation are available on General meetings - Reach Subsea

All the documents to be processed at the General Meeting are available at www.reachsubsea.no

Contact information:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

www.reachsubsea.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Birgitte Wendelbo Johansen, Chief Financial Officer at Reach Subsea ASA on the time and date provided.

Kilde

[TekBot]

Key information relating to proposed cash dividend

Key information relating to proposed cash dividend

Reference is made to the stock exchange announcement from Reach Subsea ASA sent today with notice for the Annual General Meeting 31 May 2023. The Board of Directors of Reach Subsea ASA has decided to propose a cash dividend of NOK 0.18 per share for the financial year 2022.
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Key information relating to cash dividend to be paid by Reach Subsea ASA:

Dividend amount: 0.18 per share
Declared currency: NOK
Date of approval: 31 May 2023
Last day including right: 31 May 2023
Ex-date: 1 June 2023
Record date: 2 June 2023
Payment date: on or about 8 June 2023

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

www.reachsubsea.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Birgitte Wendelbo Johansen, Chief Financial Officer at Reach Subsea ASA on the time and date provided.

Kilde

[TekBot]

Reach Subsea ASA – Subsea vessel Olympic Triton chartered for 3 years plus 2 years options

Reach Subsea ASA – Subsea vessel Olympic Triton chartered for 3 years plus 2 years options

Haugesund, 30 May 2023: Reach Subsea continues to build long-term capacity to serve the growing market for subsea services. Following a six-month charter of the multifunctional subsea support and construction vessel Olympic Triton, announced 6 February 2023, Reach Subsea has exercised the option to charter the vessel for 3 years plus 2 yearly options, including the six months charter announced in February.
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“The strong market growth for subsea services is expected to continue for many years, with thousands of new offshore wind turbines to be installed and serviced, and increasing activity in the traditional oil and gas sector. With an end-to-end service offering for ocean data and services, Reach Subsea is perfectly positioned, and by chartering Olympic Triton for the coming three years on attractive financial terms we are further strengthening our ability to leverage the accelerating market,” said Jostein Alendal, CEO of Reach Subsea.

Olympic Triton is a versatile and modern multifunctional subsea vessel with a 150 tons crane and a large accommodation and deck capacity, suitable to meet Reach Subsea’s clients’ requirements within both the renewable energy and oil and gas sectors. Reach Subsea has already utilized the vessel successfully for a project initiated in the first quarter 2023, for a renewable energy company in North West Europe.

“We are impressed with the performance of the vessel and the marine management from Olympic, and we are very happy to further build on our long-standing fruitful cooperation. The structure of the contract implies limited risk and a good upside for both Reach Subsea and Olympic and includes a portion of profit sharing between the two parties,” said Jostein Alendal.

For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located across Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group’s objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision “Sustainable access to ocean space” underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Birgitte Wendelbo Johansen, Chief Financial Officer at Reach Subsea ASA on the time and date provided.

Kilde