Statistics Iceland has compiled and analysed the operating accounts of fishing and fish processing companies for 2021 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 the industry.
Photo: Daliscot
The net profit of fishing and fish processing in total increased between 2020 and 2021 from 20.1% to 22%,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 18.4% of revenue to 22.5%. Net profit of fishing of demersal species increased from 13.9% to 14% and net profit of processing of demersal species increased from 12.6% to 17.9%.There was also an increase in net profit in fishing and processing of fishmeal and fishoil from 19.2% to 28.1%.
Aggregated balance sheet of fishing and fish processing shows that the total worth of assets of the fisheries are 953 billion ISK, liabilities are worth 520 billion ISK and equity 434 billion ISK.
Profitability in fishing and fish processing 2021 - Statistical Series