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Last 2.54 NOK
Change Today 0.00 / 0.00%
Volume 0.0
As of 10:25 AM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

reach subsea asa (REACH) Snapshot

2.40 NOK
Previous Close
2.54 NOK
Day High
2.54 NOK
Day Low
2.40 NOK
52 Week High
08/26/14 - 4.21 NOK
52 Week Low
06/17/15 - 2.01 NOK
Market Cap
Average Volume 10 Days
0.17 NOK
Shares Outstanding
Dividend Yield
Current Stock Chart for REACH SUBSEA ASA (REACH)

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reach subsea asa (REACH) Details

Reach Subsea ASA provides subsea services in Norway. The company offers IMR, remotely operated vehicles, survey, construction support, and decommissioning services. It provides engineering services to the oil industry. The company was formerly known as Transit Invest ASA and changed its name to Reach Subsea ASA in December 2012. Reach Subsea ASA was founded in 2008 and is headquartered in Haugesund, Norway.

51 Employees
Last Reported Date: 04/30/15
Founded in 2008

reach subsea asa (REACH) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

reach subsea asa (REACH) Key Developments

Reach Subsea Enters into Firm Contract with Iberdrola Renovables Offshore Deutschland GmbH for the Removal of Nine Piles at the Wikinger Wind Farm

Reach Subsea has entered into a firm contract with Iberdrola Renovables Offshore Deutschland GmbH in Germany for the removal of nine piles at the Wikinger Wind Farm. Reach will execute the contract using Ocean Installer's Normand Mermaid. Total contract duration is approximately two weeks.

Reach Subsea and MMT Establish Joint Venture Agreement Primarily for Survey Services

Reach Subsea and MMT have established a Joint Venture agreement primarily for survey services. Consequently, the two parties have performed a charter restructuring arrangement, which will add more flexibility to the business model and strengthen combined market reach. Included in the Joint Venture agreement is the shared commitment of the two survey vessels, Edda Fonn on charter to Reach until December 2017 and Stril Explorer on charter to MMT until April 2016. The two vessels will now be operated in a pool arrangement where risk and reward will be shared 50/50 between Reach and MMT, and jointly marketed towards clients. In case of not renewing the charter on Stril Explorer beyond the current period, Reach will consequently have a reduced charter commitment of approximately NOK 70 million. This will be re-invested by adding vessel capacity to the pool with MMT. Thus, the agreement increases capacity to grow at a point in time when opportunities are abundant, and the parties will leverage this increased joint strength by adding new competitive vessel capacity in the future and further develop the services offered to clients worldwide.

Reach Subsea ASA Announces Unaudited Consolidated Earnings Results for the First Ended March 31, 2015

Reach Subsea ASA announced unaudited consolidated earnings results for the first ended March 31, 2015. For the quarter, the company reported total income from operations was NOK 86,603,000, LBITDA was NOK 4,536,000, LBIT was NOK 8,531,000, loss before taxes was NOK 9,214,000 and loss was NOK 9,214,000 or NOK 0.12 diluted per share was against total income from operations was NOK 47,920,000, EBITDA was NOK 6,850,000, EBIT was NOK 3,977,000, profit before taxes was NOK 3,819,000 and profit after tax was NOK 3,819,000 or NOK 0.05 diluted per share a year ago. Net cash flow outflow operating activities was NOK 3,848,000 against NOK 1,582,000 a year ago. Purchase of fixed assets was NOK 9,071,000 against NOK 9,739,000 a year ago.


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REACH Competitors

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Helix Energy Solutions Group Inc $8.37 USD -0.13
McDermott International Inc $4.40 USD -0.14
Oceaneering International Inc $40.02 USD -0.89
Subsea 7 SA 69.10 NOK -2.45
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Industry Average

Valuation REACH Industry Range
Price/Earnings 16.4x
Price/Sales 0.5x
Price/Book 1.3x
Price/Cash Flow 7.2x
TEV/Sales 0.1x

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