Haugesund, 04 August 2026 - Eidesvik Reach AS, the joint venture owning the IMR
vessel Viking Reach and in which Reach Subsea ASA holds a 49.9% ownership
interest, has entered into a Memorandum of Agreement with an undisclosed buyer
for the sale of the vessel.
Completion of the transaction is expected in early Q4 2026, subject to customary
conditions.
As part of the transaction, Reach will also sell the Work-Class ROV (WROV)
onboard Viking Reach to the buyer. Reach expects to recognize an accounting gain
of approximately NOK 30 million related to the WROV sale upon completion of the
transaction.
In addition, Reach expects to recognize an accounting gain of approximately NOK
40 million related to its ownership interest in Eidesvik Reach AS. Both the WROV
gain and the Eidesvik Reach AS gain are expected to be recognized in the fourth
quarter of 2026 upon completion of the vessel sale.
The transaction is also expected to have a significant positive liquidity effect
for Reach. Including proceeds from the WROV sale, and dividends from Eidesvik
Reach AS related to the vessel transaction, the total positive liquidity effect
for Reach is expected to be in excess of NOK 200 million.
"The sale of Viking Reach allows us to realize value in a strong second-hand
vessel market while advancing our long-term fleet renewal strategy. The
investment has delivered an attractive return over our ownership period. The
transaction also releases significant capital, strengthening our balance sheet
and providing additional flexibility to continue high-grading our asset base and
enhancing operational efficiency," says Jostein Alendal, CEO of Reach Subsea
ASA.
Viking Reach has served as an important platform in the Reach fleet for many
years. The sale is consistent with Reach's strategic focus on modernizing its
asset base ahead of the delivery of new vessels currently under construction and
scheduled to enter service over the coming years.
-ENDS-
For more information please contact:
Arne Joa
Chief Financial Officer
Reach Subsea ASA
investors@reachsubsea.com
About Reach Subsea
Reach Subsea delivers its services through a versatile fleet of vessels,
including survey, IMR, construction support, and remote vessels. Our teams
operate worldwide, providing inspection, maintenance, construction support,
survey and data services across multiple industries, supporting clients
throughout every stage of their project lifecycles. Our offshore teams are
powered by advanced ROV technology and backed by onshore engineering expertise,
turning complex ocean challenges into reliable solutions. With over 500 skilled
professionals and offices in Norway, Sweden, the UK, the US, Brazil, Trinidad,
Australia, and Singapore, our vision-'Sustainable access to ocean space'-drives
safe, innovative, and sustainable subsea operations.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading
Act. This stock exchange announcement was published by Jorunn Håvardsholm,
Communications and Marketing Director at Reach Subsea AS on the time and date
provided.
olm\,\
Communications and Marketing Director at Reach Subsea AS on the time and date\
provided. \
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