Norway's Reach Subsea Q4 revenue falls, EBIT turns negative

Reach Subsea ASA

12/02/2026 06:16

Overview

Norwegian subsea services firm's Q4 revenue fell yr/yr due to low utilization and project margins

Q4 EBIT turned negative, impacted by Reach Remote start-up costs and currency movements

Company sees increased interest in Reach Remote concept, with growing USV-related tenders

Outlook

Reach Subsea sees backlog at NOK 1.2 bln and tender volume at NOK 10 bln

Company exploring options to accelerate Reach Remote scale-up

Reach Remote concept strengthens market position with successful campaigns

Result Drivers

LOW UTILIZATION - Q4 results were affected by low utilization rates and reduced project margins

REACH REMOTE COSTS - Start-up costs for Reach Remote impacted Q4 EBIT

REACH REMOTE PROGRESS - Reach Remote concept advanced with successful campaigns and new operations center in Australia

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
NOK 606 mln
Q4 EBIT
-NOK 60 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the oil related services and equipment peer group is "buy"

Wall Street's median 12-month price target for Reach Subsea ASA is NOK8.50, about 16.3% above its February 11 closing price of NOK7.31

Press Release: ID:nObiPNnySa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)