Statistics Iceland has compiled and analysed the operating accounts of fishing and fish processing companies for 2024 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 results show the profits of the main sub-sectors of these activities such as boats in several size categories, pelagic vessels, wet fish trawlers, freezing trawlers, processing of demersal species like freezing and salting, processing of pelagic and fresh fish processing.
The net profit of fishing and fish processing total decreased between 2023 and 2024 or from 16 % to 25% (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 in¬creased from the year before, or from 19.,2% of revenue to 22.,1%. Net profit of fishing of demersal species decreased from 11,5% to 11,4% and net profit of processing of demersal species increased from 13.,9% to 17.,5%.There was also an decrease in net profit in fishing and processing of fishmeal and fishoil from 41.,8% to 10.,6%.
Aggregated balance sheet of fishing and fish processing shows that the total worth of assets of the fisheries are ISK 1,.093 billion ISK, liabilities are worth of 560 billion ISK and equity 533 billion ISK.
Profitability in fishing and fish processing 2024 — Statistical Series