In 2016, the total revenues of fishery industry companies were EUR 901 million, and there were 1,779 companies in total in the industry. The added value produced by the fishery industry was EUR 146 million, and the companies provided 2,052 person-years of employment. Fishing companies accounted for 73 per cent of all fishery businesses. Wholesaling of fish was the largest segment in terms of revenue. The majority of people were employed in fish processing.
In 2016, there were 1,779 companies operating in the fisheries industry. The companies operated in commercial marine fisheries, aquaculture, fish processing, fish wholesale and fish retail. The majority of the companies in the industry (73 per cent) were fishing companies.
Total revenue of the fishery industry amounted to EUR 901 million, which showed a decrease of 12 per cent from 2015. According to researcher Markku Kärnä from the Natural Resources Institute Finland (Luke), the added value produced by the entire fishery industry increased by almost one-fifth to EUR 146 million.
Fish trade and fish processing are very centralised, meaning that the ten largest companies produce clearly more than 80 per cent of the total revenue in these segments.
The fishery industry provided 2,052 person-years of employment. Fish processing provided the most employment: 30 per cent of the entire industry. The number of person-years increased in fish trading, while the number of person-years decreased in fish processing and primary production.
The net result of the fish industry showed a profit and was better than in 2015 in all the industries. The largest net profit, EUR 6.6 million, was made in fish retail.
Fish processing and wholesale are the fishery industry’s largest segments
After one year of profit, revenue in the fishery industry showed a decrease in 2016. Fishing companies were the only segment where revenue decreased: the revenue of the other fishery industry actors increased.
“Wholesale revenue increased the most, by 15 per cent. Fish wholesalers achieved the largest profits in the fishery industry in 2016: EUR 322 million. Profits from fish processing amounted to EUR 311 million,” Kärnä says.
Profit and profitability of aquaculture companies improved
In 2016, there were 173 companies with aquaculture as their main line of business in Finland. The aquaculture companies are divided into five categories based on their main production orientation. The categories are: marine food fish production, freshwater food fish production, recirculating aquaculture systems, hatcheries & nurseries and ponds.
The segment provided 340 person-years of employment. The profit from aquaculture increased by 10 per cent, to EUR 74 million. More than half of the profit from aquaculture companies, some EUR 43 million, came from marine food fish production. The business of companies in this sector was also the most profitable. The net result showed a profit in nearly all the production forms, and the profitability of the entire segment improved.
The solvency and liquidity of companies in the segment were mainly good or satisfactory.
Profitability data for the fishery industry has been updated in the EconomyDoctor online service and statistical database
Financial indicators of fishery industry companies are published in Luke’s EconomyDoctor and statistical database. Financial indicators for 2008–2016 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 orientation and for fishing by form of fishing.