Reach Subsea ASA (FRA:4RS)

Q4 2025 Reach Subsea ASA Earnings Call Transcript

Feb 12, 2026 / 08:30 AM GMT

Release Date Price: €0.6 (-0.66%)

Transcript

Key Points

Positve

Reach Subsea ASA (FRA:4RS) has successfully advanced its Re Remote program, moving from field trials to commercial use, showcasing operational scalability.
The company is the first globally to operate fully unmanned vessels of its size, with operations in Norway and Australia.
Significant milestones have been achieved in the remote program, strengthening long-term growth potential despite short-term implementation costs.
The company has maintained a stable backlog year over year, with rising tender activity, indicating potential future growth.
Reach Subsea ASA (FRA:4RS) has secured a new 735 million loan facility, enhancing its liquidity and financial flexibility.

Negative

The financial results for Q4 2025 were below targets, with lower vessel utilization and reduced project margins impacting performance.
Revenue for the quarter decreased to NOC 606 million from NOC 685 million in Q4 2024, with EBIT turning negative.
Profit after tax was negative, highlighting challenges in achieving profitability.
The company faced headwinds from foreign exchange movements and higher depreciation costs.
Vessel utilization remains a challenge, with the need for improved planning and execution to secure work and increase utilization rates.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

REACH.OL - Reach Subsea ASA
Q4 2025 Reach Subsea ASA Earnings Call
Feb 12, 2026 / 08:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to our 4th quarter 2025 webcast for the Subsea authors.

Our report and presentation were released this morning.

And I'm Jose Ardol, CEO, and I'm here with our CFO on the U.

Let me start by being direct. Our financial results this quarter are below our targets.

And I will give you more details and cover our financials in a bit.

On the bright side, though, we have made significant progress in the introduction and deployment of new technology.

Most notably, the Re Remote program has taken another major step forward, moving well beyond initial field trials and is now proving its capabilities in real commercial use.

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