Year 2015 was bleaker than usual in the fishery sector as total income decreased having been on the increase for many years. However, there are some positive signs of development in primary production of the fishery sector.
Lower fuel prices had a positive impact on the financial results of large fishing trawlers.
“Although the price of rainbow trout decreased, the increased production of aquaculture also increased the revenues and profitability of the sector. In turn, fish processing and fish trade did not do so well. The fish processing industry and fish trade which primarily rely on imported fish saw their profitability decrease due to the high price of imported salmon,” says Researcher Heidi Pokki of Luke, the Natural Resources Institute Finland.
The fishery industry is very concentrated
In 2015, there were 1,747 companies working in the fisheries sector. Most of them (72%) were fishing companies. Total income of the fishery industry (EUR 839 million) decreased by 12 per cent from the previous year. The added value produced by fishery industry decreased by one-fifth to EUR 122 million. Fish trade and fish processing are very concentrated sectors, and concentration has also taken place over the past few years in marine fishing and aquaculture.
The fishing industry provided 2,536 person-years of employment. Fish processing provided the most employment, 32 per cent. The number of person-years increased in primary production and decreased in fish processing and retail trade.
Fish processing is the largest individual segment in the fishery industry
In 2015, total income of the fishery sector decreased having been on the increase for many years. Of the different segments, only aquaculture companies increased their revenues. Income decreased most in the fish processing segment, almost by a quarter. However, fish processing accounted for most of the income, EUR 302 million.
Large trawlers improved their net results
In 2015, there were 1,256 fishing companies operating at sea. Most of the marine fishing companies were coastal fishing companies using vessels less than 12 metres long. Of all fishing companies, 71 per cent were coastal fishers with annual turnover below EUR 8,500. Only four per cent of fishing companies used trawlers.
The total income of fishing companies amounted to EUR 38 million. Large trawlers improved their net results thanks to cheaper fuel. They accumulated half of the total income of fishing companies. The best financial results were achieved by the coastal fishermen with annual turnover above EUR 8,500, in all EUR three million. Apart from small coastal fishers, fishing produced a positive net result.
Marine fishers made net investments totalling approximately EUR eight million. The biggest investors were large trawlers (EUR 4 million) and small coastal fishers (EUR 2 million). Apart from the large trawlers, solvency of the fishing companies was good and liquidity satisfactory or good. Large trawler companies had a poor equity ratio and liquidity.
Profitability data of the fishery industry were updated in the Economy Doctor online service and statistical database
Financial indicators of fishery sector companies are published in Luke’s Economy Doctor and statistical database. Financial indicators for 2008–2015 are available in Finnish, Swedish and English. The companies’ financial indicators can be viewed for processing and fish trade by company size, for aquaculture by production technique and for fishing by form of fishing.