Please note that this press release was corrected on 4 January 2024 from the original version. The figures in the balance sheet for the year 2022 were re-evaluated and have been corrected. The total assets of the fishing industry are now estimated at around 1,062 billion ISK and equity at almost 520 billion ISK.
Statistics Iceland has compiled and analysed the operating accounts of fishing and fish processing companies for 2022 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 in total increased between 2021 and 2022 from 22% to 26,3%,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 22,5% of revenue to 23,1%. Net profit of fishing of demersal species increased from 14% to 15,7% and net profit of processing of demersal species decreased from 17,9% to 15%. There was also an increase in net profit in fishing and processing of fishmeal and fishoil from 28,1% to 42,5%.
Aggregated balance sheet of fishing and fish processing shows that the total worth of assets of the fisheries are 1,062 billion ISK, liabilities are worth 542 billion ISK and equity 520 billion ISK.
Profitability in fishing and fish processing 2022 — Statistical Series