Q1 2022 Reach Subsea ASA Earnings Call Transcript
Good morning, and welcome to this presentation of the first quarter of 2022 for Reach Subsea ASA. My name is Jostein Alendal, and I'm the CEO of the company; and with me is CFO, Birgitte Wendelbo Johansen.
Our report was released earlier this morning together with the material for this presentation. And as usual, this webcast of our quarterly presentations gives you the opportunity to submit questions through the webcast player during and after the presentation. Please do so, and we will answer in the Q&A session.
Before moving to the quarter -- this first quarter, let me remind you that the company has changed a lot during this winter. In addition to our day-to-day business, we are in the time of investments and the shaping of the long-term future. So let's start with slide number 3.
In this quarter, there are three very specific reasons for the decline in results compared to last year. I will quickly comment, and Birgitte will, of course, go through the numbers and details later.
So firstly, as you may know, we have
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