Reach Subsea ASA (LTS:0EMB)

Q2 2026 Reach Subsea ASA Earnings Call Transcript

Aug 18, 2026 / 07:30 AM GMT

Release Date Price: kr6.12 (+9.48%)

Transcript

Key Points

Positve

Revenue increased 44% year-over-year to NOK 988 million, driven by higher project activity and vessel utilization.
EBIT more than doubled to NOK 192 million, reflecting strong operational leverage and improved project performance.
Net profit after tax rose 84% to NOK 134 million, demonstrating healthy earnings growth.
Reach Remote achieved key milestones, including 750 uncrewed operational days, DNV's world-first notation, and regulatory approvals in Norway, UK, and Australia.
The carve-out process for Reach Remote is progressing well, attracting strong interest from both industrial and financial partners.

Negative

Activity levels are unevenly distributed across quarters, with Q2 significantly stronger than Q1, leading to potential volatility.
The equity ratio decreased to 30% from 39% a year ago, primarily due to IFRS 16 lease liabilities from Norman Jarstein.
The Viking Reach sale is expected to close in Q4, with liquidity impact delayed until then.
Viking Vigo delivery has been delayed from Q2 to Q4, potentially affecting fleet capacity plans.
Dividend payments remain restricted by financing agreement covenants, with no guidance on timing.

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

REACH.OL - Reach Subsea ASA
Q2 2026 Reach Subsea ASA Earnings Call
Aug 18, 2026 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, and welcome to Reach Subsea's second quarter 2026 webcast.

Our report and presentation were released this morning, and I am Justin Andall, CEO, and joined by our CFO Arne Johan.

The second quarter has been good with high operational activity and continued progress in the development of Reach Remote.

We delivered strong operational performance while continuing to build the foundation for future growth.

Arne will take you through the financial details in a bit, and later in the presentation I will discuss both our outlook and the progress of Reach Remote and the car-vote process.

Please submit questions via the webcast player and we will address them in the Q&A session after

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