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Fish processing plant. (Photo: Samherji)

Operations abroad benefit Samherji

  (ICELAND, 9/1/2017)

Samherji hf informed that the operations of the company’s subsidiaries and associates abroad in the financial year 2016 generated gains amounting to ISK 14.3 billion (EUR 114 million). This is more than half of the fishing group's operations are developed outside Iceland.

“We are proud of the operating performance of Samherji hf. Coordinated effort, diligence, hard work and faith among our employees and associates all over the world has once more returned gains, over which there is every reason to rejoice,” said Þorsteinn Már Baldvinsson, CEO of Samherji hf. when the group's annual financial statements for the year 2016 were presented.

The CEO pointed out that significant improvements to the onshore operation of Útgerðarfélag Akureyringa (ÚA) in 2015 have proved a success and that during the analysed year the group had six vessels under construction.

Two of those vessels, Kaldbakur and Björgúlfur, have already arrived in Iceland and Cuxhaven has begun fishing operations in Germany.

In addition, the CEO pointed out that Íslandsbleikja's considerable investments will strengthen the aquaculture operations.

On the other hand, the Group’s CEO explained that the lengthy seamen’s strike that began during the year and lasted into 2017 adversely affected the company’s performance.

The Group’s exports were unfavourably affected by conditions on foreign markets and by the strong currency value of the Icelandic króna.

The revenue of Samherji hf. amounted to approximately ISK 85 billion (EUR 678 million) and earnings before interest, tax, depreciation and amortization (EBITDA) came to approximately ISK 17 billion (EUR 135.6 million).

The Group´s CEO stressed that another large project is the construction of new onshore facilities in Dalvík, an installation which is going to be unique on a world scale.

Those facilities will include a fish processing plant, fitted with the latest high technology equipment, which he believes will constitute a watershed in the Icelandic fishing industry.


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Information of the company:
Address: Glerárgötu 30
City: Akureyri
State/ZIP: (600)
Country: Iceland
Phone: +354 460 9000
Fax: +354 460 9099
E-Mail: [email protected]
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