Reach Subsea ASA (OSL:REACH)
kr 8.26 0.16 (1.98%) Market Cap: 2.24 Bil Enterprise Value: 3.77 Bil PE Ratio: 9.95 PB Ratio: 2.39 GF Score: 75/100
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Q2 2022 Reach Subsea ASA Earnings Call Transcript

Aug 23, 2022 / 01:30PM GMT
Release Date Price: kr3.78 (+7.04%)
Jostein Alendal
Reach Subsea ASA - CEO

Good morning, and welcome to this presentation of the second quarter and half year of 2022 for Reach Subsea ASA. I am Jostein Alendal, the CEO of the company; and later you will meet our CFO, Birgitte Wendelbo Johansen.

The second-quarter and half-year report was released earlier this morning together with the presentation material for this webcast. (Conference Instructions)

As you know, Reach has evolved a lot during the last six to nine months, and we will continue also to develop in the years to come. I'll come back to that a bit later, but let's have a look at the highlights for the second quarter and half year on slide number 3.

It is a pleasure to report strong results for Reach Subsea in the second quarter of 2022. And not only strong, I should say, it is record strong. With revenues doubling and EBIT almost tripling compared to same quarter last year, we clearly demonstrate the strength of our business model in a positive market environment. We now see the benefit of our efforts to fill more vessel capacity, and in the second

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