Q1 2026 Reach Subsea ASA Earnings Call Transcript
Good morning, and welcome to our first quarter 2026 webcast for Reach Subsea ASA. Our report and presentation were released this morning, and I am Jostein Alendal, CEO, and I'm here with our CFO, Arne Joa. Our utilization has continued to lag behind our ambitions this quarter. And revenue remains far below our expectations.
Arne will give more details and cover our financials in a bit.
But at the same time, we will continue to make progress in the introduction and deployment of new technology as the Reach Remote program continues its commercial rollout.
I will return to what that means for our strategy and long-term development shortly.
Please submit questions via the webcast player. We will address them in the Q&A session after the presentation.
Our first quarter results are below target and not satisfactory. Lower vessel utilization remains the main driver this quarter.
This can be explained by the market fluctuations we are experiencing, but the project startup dynamics have also influenced activity level
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