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NorskReduced profitability for the Norwegian fish farming industry
This is the not unexpected conclusion to be drawn from the profitability survey of Norwegian fish farms in 2007. There was a sharp decrease in profitability from 2006 to 2007.
Average operating margin decreased from 30 per cent in 2006 to 12.6 per cent in 2007.
On the other hand the survey also shows a positive development in productivity.
The total profit in the industry, before taxation, is calculated to approximately 2.4 billion NOK in 2007. For 2006 the total profit before taxation was calculated to 5,6 billion NOK.
The main explanation for this negative development in profitability is a decrease in average sales price of Atlantic salmon and Rainbow trout. Average sales price for Atlantic salmon decreased with 19 per cent from 2006 to 2007, while average sales price for Rainbow trout decreased with 27 per cent in the period.
Reduced productivity
Productivity, calculated as average production per man-year, increased from 392 tons in 2006 to 446 tons in 2007. Higher productivity was due to a combination of decrease in the average number of man-year per company and an increase in the production of fish in the same period. The average number of man-year per company decreased from 12.6 in 2006 to 11.8 in 2007.
Higher production costs per kilo
Production costs per kilo increased with 7 per cent from NOK 14.74 in 2006 to NOK 15.81 in 2007. The main reasons for this negative development were increased feeding costs and smolt costs.
Average feeding costs per kilo increased from NOK 8.36 in 2006 to NOK 8.98 in 2007. The explanation for this development was an increase in the price of feed. Average price of feed per kilo was NOK 7.46 in 2007 compared to NOK 7.16 in 2006.
Smolt costs had however the largest relatives increase from 2006 to 2007. Smolt costs increased with 37 per cent. The reason for this development was an increase in the price of smolt.
Presented tables and figures below are preliminary. The presented figures are based on 46 per cent of the total number of licences in production in 2007. Final figures will be presented at the website of the Directorate of Fisheries in the beginning of November.
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