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Last 2.10 NOK
Change Today +0.19 / 9.95%
Volume 6.4K
As of 4:18 AM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

reach subsea asa (REACH) Snapshot

1.85 NOK
Previous Close
1.91 NOK
Day High
2.10 NOK
Day Low
1.85 NOK
52 Week High
09/11/14 - 3.94 NOK
52 Week Low
09/4/15 - 1.85 NOK
Market Cap
Average Volume 10 Days
0.18 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 ASA Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Reach Subsea ASA reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total operating income of NOK 219,439,000 against NOK 77,183,000 a year ago. EBITDA was NOK 18,654,000 against NOK 10,889,000 a year ago. Operating result (EBIT) was NOK 12,156,000 against NOK 7,506,000 a year ago. Profit before taxes was NOK 7,430,000 against NOK 6,934,000 a year ago. Diluted earnings per share were NOK 0.10 against NOK 0.09 a year ago. For the six months, the company reported total operating income of NOK 306,042,000 against NOK 125,064,000 a year ago. EBITDA was NOK 14,118,000 against NOK 17,739,000 a year ago. Operating result (EBIT) was NOK 3,625,000 against NOK 11,484,000 a year ago. Loss before taxes was NOK 1,784,000 against profit before taxes of NOK 10,753,000 a year ago. Diluted loss per share was NOK 0.02 against diluted earnings per share of NOK 0.14 a year ago. Net cash used in operating activities was NOK 14,769,000 against net cash flow from operating activities of NOK 5,924,000 a year ago. Purchase of fixed assets was NOK 9,224,000 against NOK 19,529,000 a year ago.

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.


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Industry Average

Valuation REACH Industry Range
Price/Earnings 13.6x
Price/Sales 0.4x
Price/Book 1.0x
Price/Cash Flow 5.0x
TEV/Sales NM Not Meaningful

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