Statistics Iceland has compiled and analysed the operating accounts of fishing and fish processing companies for 2020 as well as their balance sheets. Information from these statements along with data on exports and catches were used to measure the overall profitability in the subsectors of these branches of industry.
The net profit of fishing and fish processing in total increased between 2019 and 2020 from 19% to 20,1% (corrected for the effect of changes in the exchange rate according to the annuity approach and 6% rate of return). Net profit of fishing and fish processing of demersal species increased from the year before, or from 17.6% of revenue to 18.4%. Net profit of fishing of demersal species increased from 11.9% to 13.9% and net profit of processing of demersal species decreased from 13.5% to 12.6%.There was also an increase in net profit in fishing and processing of fishmeal and fishoil from 14% to 19.2%.
Aggregated balance sheet of fishing and fish processing shows that the total worth of assets of the fisheries are 830 billion ISK, liabilities are worth 496 billion ISK and equity 333 billion ISK.
Profitability in fishing and fish processing 2020 - Statistical Series