1. Reach Subsea ASA in brief 2. Highlights 3. Financials 4. Vessels and resources 1st Quarter 2014 Presentation 1
HIGHLIGHTS 1Q2014 Revenues of NOK 48 million and a healthy EBITDA margin of 14% in a low season quarter. Reach Subsea now has projects worth NOK 200m in the order book (ex options) for execution in the remainder of 2014. Order…
REPORT 1ST QUARTER 2014 Income Statement Highlights: NOK 000 1Q14 1Q13 2013 Revenues of NOK 48 m Operating income 47 920 1 187 62 276 stems from three Operating expenses -41 070 -4 016 -41 070 contracts in the quarter, majority…
REPORT 1ST QUARTER 2014 Balance Sheet Highlights: NOK 000 1Q14 2013 Solid cash-position of Fixed assets 100 821 93 905 NOK 45m Current Assets 126 936 117 308 Receivables of NOK 82m Total Assets 227 757 211 213 includes restricted…
REPORT 1ST QUARTER 2014 Cash flow Highlights: NOK 000 1Q14 2013 Back-end loaded Net cash flow from 1 582 -31 220 revenues in the quarter operating activities Investments in the Net cash flow from quarter related to refit of -9 789…
REACH SUBSEA ASA IN BRIEF Reach Subsea was established in 2008 in Norway as a consultancy company. Reach Subsea expansion plan launched summer 2012. new equity, new management, new shareholders and a focused business plan. Reach…
FIVE YEAR PERSPECTIVE ON PLAN SO FAR Realistic growth plan increasing fleet by one vessel per year 2012 2013 2014e 2015e 2016e Investing in new assets and Vessels 0 1 3 4 5 securing the right assets ROV systems 0 2 5 8 12…
THE BOARD OF DIRECTORS Kre Johannes Lie Chairman of the Board Merete Haugli Board member Foto av Kre Johann es Lie Kre Johannes Lie holds a Master of Science Merete Haugli has education from degree. He has broad experience from the…
BUSINESS SEGMENTS 10
VESSELS AND RESOURCES Reach Subsea now provides high quality IMR/LCV services to the end-clients full satisfaction Dina Star was ready end March, equipped with 1-2 Supporter ROVs and a new AHC 150 tonnes crane Dina Star started…
NORMAND REACH 2 year contract from yard delivery in June plus 2 yearly options. Delivery includes Reach 2 WROV units with advanced handling and ROV personel. Possibility for increased services related to offshore and engineering…
STRIL EXPLORER Stril Explorer did the first job in March 2014 for EMAS/Troll. Now working for Statnett. Reach doing engineering and ROV services. MMT doing survey services. Tendering now for both short and long term jobs.…
NEWBUILD DESIGN - LCV GA and design developed by Reach Subsea and Salt Ship design Delivery of newbuild planned Q1 2016 14
NEW TECHNOLOGY SURVEYOR Reach Subsea and MMT have established a new company, Surveyor AS, as owner of the newbuild Surveyor ROV. Surveyor to be delivered in July this year and will start test and operations in 2nd half of…
PROJECT TOTAL FRANKLIN WHP DREDGING For end client TOTAL E&P UK LTD, Reach Subsea performed dredging/excavation support and intermediate MBE surveys with vessel Dina Star for the preparation of the seabed at the Franklin location, in…
PROJECT BYGGVE ROV INSPECTION For end client TOTAL E&P Norge AS, Reach Subsea preformed gas leak investigation/inspection and measurements at Byggve 25/5-C-1AH well with vessel Dina Star. Supporter 7 was equipped with inspection…
PROJECT EMAS TROLL A SURVEY SERVICES For end client Statoil, Reach Subsea performed J-tube pigging, dredging and pre lay MBES and sidescan survey with vessel Stril Explorer for the preparation of 2 HVDC and 1 HVAC cable lay from…
PROJECT HSSE MATTRESS INSTALLATION For client HSSE, Reach Subsea in cooperation with MMT AB performed ROV dive support, survey and mattress installation with the vessel Stril Explorer outside the port of Zeebrugge, Belgium. Supporter…
PROJECT EXXONMOBIL SAM DEPLOYMENT For client ExxonMobil, Reach Subsea performed SAM(Subsea Accumulator Module) deployment and positioning with the vessel Stril Explorer at the Balder D area 165km west of Haugesund. Supporter 10 was…
PROJECT STATNETT SKAGERRAK SURVEY For end client Statnett, Reach Subsea in cooperation with MMT is currently performing Multibeam, Sidescan and Cable tracking survey of the Skagerrak 4 cable between Norway and Denmark, the NorNed cable…
LIST OF SHAREHOLDERS Shareholders Number % of total ACCELLO PARTNERS I AS 23 444 254 30,9 % JOSO INVEST AS 6 864 589 9,0 % JT INVEST AS A- INVEST AS 5 301 539 3 749 949 7,0 % 4,9 % Highlights: GSE SANDVIK AS 3 437 500 4,5 %…
SUMMARY Revenues of NOK 48 million and a healthy EBITDA margin of 14% in a low season quarter. Reach Subsea now has projects worth NOK 200 million in the order book (ex options) for execution in the remainder of 2014. Order…
EXPANDING RESOURCE BASE Our human resources both onshore and offshore consist of highly skilled personnel, all with long experience in planning, management and execution of advanced subsea operations 24
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