Statistics Iceland has compiled and analysed the operating accounts of fishing and fish processing companies for 2023 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.
The net profit of fishing and fish processing total decreased between 2022 and 2023 or from 26.3% to 24% (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 decreased from the year before, or from 23.1% of revenue to 19.2%. Net profit of fishing of demersal species decreased from 15.7% to 11.5% and net profit of processing of demersal species decreased from 15% to 13.9%.There was also an decrease in net profit in fishing and processing of fishmeal and fishoil from 42.5% to 41.8%.
Aggregated balance sheet of fishing and fish processing shows that the total worth of assets of the fisheries were 1,059 billion ISK, liabilities were worth of 554 billion ISK and equity 505 billion ISK.
Profitability in fishing and fish processing 2023 — Statistical Series