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Commercial Fishing

EARNINGS UP FOR ICELANDIC FISHING AND PROCESSING VENTURES

EARNINGS UP FOR ICELANDIC

Earnings up for Icelandic fishing and processing ventures. Gross profit, EBITDA as a proportion of operating revenue (excluding transactions of raw materials between enterprises) increased from 21.2% to 25.2% in the Icelandic fishing and fish processing total, from 18.1% to 18.0% in fishing, and 10.6% to 14.8% in fish processing between 2017 and 2018.

Earnings before tax in fishing and fish processing (annuity method) increased from 7.1% to 12.2% between 2017 and 2018. In 2018, total profits were 26.9 billion ISK after subtracting imputed cost of capital of 28.6 billion ISK. Using the standardized balancing methodology, total profits were 11.5% or 25.4 billion ISK compared with 6.9% or 13.1 billion ISK in 2017.

Total assets for fishing and fish processing were roughly 709 billion ISK for 2018. Total debt was in excess of 412 billion ISK, a 10% increase, and equity was roughly 297 billion ISK.

Fisheries remains one of the pillars of the Icelandic economy, responsible for a fair share of both the GDP and the nation’s export revenue. Iceland is one of the world’s leaders in total fisheries, but has in recent years also become a leading country in the advancement of marine technology, fishing equipment, navigational techniques and fish detection instruments, as well as maintaining a sophisticated seafood sector, exporting world-class produce.

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Fisheries remains one of the pillars of the Icelandic economy, responsible for a fair share of both the GDP and the nation’s export revenue. Iceland is one of the world’s leaders in total fisheries, but has in recent years also become a leading country in the advancement of marine technology, fishing equipment, navigational techniques and fish detection instruments, as well as maintaining a sophisticated seafood sector, exporting world-class produce.EARNINGS UP FOR ICELANDIC

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