Reach Subsea
ISIN: NO0003117202 | Ticker: REACH | LEI: 5967007LIEEXZXK7FS45
Country: Norway
Established in 2008, we are a company with a comprehensive knowledge of subsea operations. We are known and respected for our world-class engineering and state of the art remotely-operated underwater vehicles (ROV).
We are already regarded as a knowledgeable Norwegian operator, providing engineering services to the oil industry in a flexible and highly competitive way. Our human resources are first class and contribute towards an impressive reputation in the business.
Our vision is to be the preferred operator by those who need the best possible subsea partner, one that will always perform above expectations. Our business is based on modern, high spec Work ROVs operated by highly qualified offshore personnel and supported by our competent onshore project management and engineering resources. As a platform for performing subsea services, we utilize modern high spec subsea vessels chartered in from various ship owners.
1909
Served areaWorldwide
HeadquartersPostboks 1393 Gard, 5507 Haugesund – Norway
| Line item in (nok) | 01.01.2020 | 01.01.2021 | 01.01.2022 | 01.01.2023 |
|---|---|---|---|---|
| Assets | N/A | 363,014,000.00 | 746,529,000.00 | 952,085,000.00 |
| Noncurrent Assets | N/A | 121,036,000.00 | 392,582,000.00 | 448,030,000.00 |
| Property Plant And Equipment | N/A | 76,569,000.00 | 73,761,000.00 | 85,010,000.00 |
| Construction In Progress | N/A | N/A | 0.00 | 150,499,000.00 |
| Goodwill | N/A | N/A | 0.00 | 86,723,000.00 |
| Intangible Assets Other Than Goodwill | N/A | N/A | 1,457,000.00 | 10,623,000.00 |
| Investments In Joint Ventures Accounted For Using Equity Method | N/A | 22,772,000.00 | 0.00 | N/A |
| Deferred Tax Assets | N/A | 8,161,000.00 | 40,151,000.00 | 24,915,000.00 |
| Current Assets | N/A | 241,978,000.00 | 353,948,000.00 | 504,055,000.00 |
| Current Fuel | N/A | 1,376,000.00 | 8,130,000.00 | 9,884,000.00 |
| Current Trade Receivables | N/A | 90,783,000.00 | 149,633,000.00 | 216,328,000.00 |
| Other Current Receivables | N/A | 44,422,000.00 | 47,150,000.00 | 86,252,000.00 |
| Cash and cash equivalents | 38,657,000.00 | 105,396,000.00 | 149,035,000.00 | 191,591,000.00 |
| Equity And Liabilities | N/A | 363,014,000.00 | 746,529,000.00 | 952,085,000.00 |
| Equity | 165,831,000.00 | 210,155,000.00 | 286,806,000.00 | 579,442,000.00 |
| Issued Capital | N/A | 143,606,000.00 | 144,941,000.00 | 225,726,000.00 |
| Share Premium | N/A | 83,529,000.00 | 85,928,000.00 | 267,345,000.00 |
| Other Equity Interest | N/A | -38,522,000.00 | 15,454,000.00 | 40,390,000.00 |
| Noncurrent Liabilities | N/A | 12,731,000.00 | 119,668,000.00 | 9,242,000.00 |
| Longterm Borrowings | N/A | 12,731,000.00 | 14,497,000.00 | 4,932,000.00 |
| Current Liabilities | N/A | 140,128,000.00 | 340,055,000.00 | 363,401,000.00 |
| Trade And Other Current Payables To Trade Suppliers | N/A | 65,055,000.00 | 63,467,000.00 | 102,430,000.00 |
| Current Payables On Social Security And Taxes Other Than Income Tax | N/A | 7,237,000.00 | 8,498,000.00 | 18,831,000.00 |
| Current Tax Liabilities Current | N/A | 0.00 | 0.00 | 7,853,000.00 |
| Other Current Liabilities | N/A | 39,212,000.00 | 75,203,000.00 | 112,541,000.00 |
| Current Borrowings And Current Portion Of Noncurrent Borrowings | N/A | 12,859,000.00 | 16,260,000.00 | 23,086,000.00 |
| Line item in (nok) | 01.01.2020/ 01.01.2021 |
01.01.2021/ 01.01.2022 |
01.01.2022/ 01.01.2023 |
|---|---|---|---|
| Revenue | N/A | 673,253,000.00 | 1,161,533,000.00 |
| Revenue From Interest | 149,000.00 | 237,000.00 | 1,264,000.00 |
| Revenue From Contracts With Customers | 618,870,000.00 | 673,253,000.00 | N/A |
| Employee Benefits Expense | 111,422,000.00 | 122,374,000.00 | 251,031,000.00 |
| Depreciation And Amortisation Expense | 208,386,000.00 | 239,807,000.00 | 353,532,000.00 |
| Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss | 7,505,000.00 | 0.00 | N/A |
| Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss | 7,505,000.00 | 0.00 | N/A |
| Other Gains Losses | 9,160,000.00 | 13,347,000.00 | 1,287,000.00 |
| Profit Loss From Operating Activities | 51,317,000.00 | 79,064,000.00 | 105,255,000.00 |
| Share Of Profit Loss Of Associates And Joint Ventures Accounted For Using Equity Method | 1,487,000.00 | 146,000.00 | N/A |
| Profit Loss Before Tax | 43,103,000.00 | 73,046,000.00 | 98,023,000.00 |
| Income Tax Expense Continuing Operations | 0.00 | -20,760,000.00 | 25,838,000.00 |
| Profit (loss) | 43,103,000.00 | 93,806,000.00 | 72,185,000.00 |
| Line item in (nok) | 01.01.2020 | 01.01.2021 | 01.01.2022 | 01.01.2023 |
|---|---|---|---|---|
| Profit (loss) | N/A | 43,103,000.00 | 93,806,000.00 | 72,185,000.00 |
| Adjustments For Increase Decrease In Trade Account Payable | N/A | 11,071,000.00 | -11,863,000.00 | 31,454,000.00 |
| Adjustments For Depreciation And Amortisation Expense | N/A | 208,386,000.00 | 239,807,000.00 | 353,532,000.00 |
| Adjustments For Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss | N/A | 7,505,000.00 | 0.00 | N/A |
| Adjustments For Provisions | N/A | 32,557,000.00 | 25,053,000.00 | 7,792,000.00 |
| Adjustments For Sharebased Payments | N/A | 432,000.00 | 0.00 | 1,235,000.00 |
| Adjustments For Losses Gains On Disposal Of Noncurrent Assets | N/A | -9,160,000.00 | 24,718,000.00 | 0.00 |
| Income Taxes Paid Refund Classified As Operating Activities | N/A | 0.00 | 0.00 | N/A |
| Cash Flows From Used In Operating Activities | N/A | 268,691,000.00 | 279,214,000.00 | 466,309,000.00 |
| Proceeds From Sales Of Property Plant And Equipment Classified As Investing Activities | N/A | 0.00 | 24,718,000.00 | N/A |
| Purchase Of Property Plant And Equipment Classified As Investing Activities | N/A | 2,118,000.00 | 1,561,000.00 | 167,805,000.00 |
| Cash Flows From Used In Investing Activities | N/A | -2,118,000.00 | 6,963,000.00 | -204,702,000.00 |
| Proceeds From Issuing Shares | N/A | N/A | 2,923,000.00 | 259,911,000.00 |
| Payments Of Lease Liabilities Classified As Financing Activities | N/A | 15,648,000.00 | 17,793,000.00 | 13,448,000.00 |
| Dividends Paid Classified As Financing Activities | N/A | 0.00 | 21,541,000.00 | 40,484,000.00 |
| Interest Paid Classified As Financing Activities | N/A | 2,176,000.00 | 1,740,000.00 | 1,061,000.00 |
| Cash Flows From Used In Financing Activities | N/A | -200,172,000.00 | -245,139,000.00 | -214,537,000.00 |
| Effect Of Exchange Rate Changes On Cash And Cash Equivalents | N/A | 339,000.00 | 2,602,000.00 | -4,514,000.00 |
| Increase (decrease) in cash and cash equivalents after effect of exchange rate changes | N/A | 66,401,000.00 | 41,037,000.00 | 47,070,000.00 |
| Cash and cash equivalents | 38,657,000.00 | 105,396,000.00 | 149,035,000.00 | 191,591,000.00 |
Please note that some sums might not add up.
NO0003117202
LEI5967007LIEEXZXK7FS45
SectorOil & Gas Equipment & Services
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