Reach Subsea ASA - Company Profile
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Reach Subsea ASA (Reach) provides engineering consultancy services and advanced remotely-operated underwater vessels (ROV) to the oil industry. The company also offers inspection, maintenance and repair, survey, construction support and decommissioning services. Reach offers multi-support vessels with ROVs to its customers. The company serves technologically demanding customers in need of engineering and equipment related to subsea operations. Its assets include Viking Neptun, Havila Harmony, Havila Subsea, Olympic Challenger, Topaz Tiamat, Olympic Delta, Still Explorer, Surveyor Interceptor and Supporter. Reach serves cable and wind, oil and gas and other industries. The company carries out operations through its wholly-owned subsidiary, Reach Subsea AS. Reach is headquartered in Haugesund, Rogaland, Norway.
Headquarters
Norway
Address
Garpeskjaervegen 2, Haugesund, 5527
Website
reachsubsea.no
Telephone
47 40 007710
No of Employees
273
Industry
Energy and Utilities
Ticker Symbol & Exchange
REACH (OSL)
Revenue (2022)
$121.0M
69.4%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-23%
(2022 vs 2021)
Market Cap*
$153.1M
Net Profit Margin (2022)
XYZ
-54.5%
(2022 vs 2021)
* As of and is in US$
Reach Subsea ASA premium industry data and analytics
Products and Services
| Services |
|---|
| Inspection Maintenance and Repair |
| Remotely-operated Underwater Vessel Operation Survey |
| Engineering Consultancy |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Contracts/Agreements | In October, the company entered into an agreement with SSEN Transmission for the Spittal to Peterhead HVDC power cable. |
| 2023 | Contracts/Agreements | In October, the company entered into an agreement to acquire 100% of the shares of Guardian Geomatics PTY. LTD. |
| 2023 | Contracts/Agreements | In May, the company secured a contract from an unnamed renewable energy company for the delivery of offshore wind-related services. |
Competitor Comparison
| Key Parameters | Reach Subsea ASA | Fugro NV | DOF Subsea AS | Havila Shipping ASA | DeepOcean AS |
|---|---|---|---|---|---|
| Headquarters | Norway | Netherlands | Norway | Norway | Norway |
| City | Haugesund | Leidschendam | Bergen | Fosnavag | Postterminalen |
| No. of Employees | 273 | 10,000 | 1,181 | 429 | - |
| Entity Type | Public | Public | Private | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Rachid Bendriss | Chairman | Executive Board | 2020 | - |
| Birgitte Wendelbo Johansen | Chief Financial Officer; HR Manager | Executive Board | - | - |
| Jostein Alendal | Managing Director; Chief Executive Officer | Senior Management | - | - |
| Inge Grutle | Chief Operating Officer | Senior Management | - | - |
| Bard Thuen Hogheim | Chief Commercial Officer | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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