Fishing company Síldarvinnslan booked a profit of ISK 1.7 billion (€11.9 million), marking a solid first-half result despite a meagre capelin haul. Revenues totalled ISK 21.2 billion, and EBITDA reached ISK 5.1 billion.
The company’s balance sheet shows assets of ISK 130.5 billion and liabilities of ISK 47.2 billion—leaving equity at ISK 83.3 billion. Smooth operations at Grindavík, along with strong prices for cod and saithe, played key roles.
CEO Pushes Back on Fee Debate
CEO Gunnþór Ingvason defended the industry amid criticism over fishing fees. He said claims of high profits are misleading and stressed that fishing firms face low returns on equity due to their hefty infrastructure investments.
With Parliament’s recent approval of higher fishing fees, Ingvason warned that companies may need to scale back investment and streamline operations to adapt.
Looking Ahead: Quotas and Forecasts
The mackerel season is winding down, with herring and remaining saithe quotas coming next. Scientists are meeting to assess capelin for 2026, with early signs looking promising.
“Market conditions are good—we see positive times ahead,” said Ingvason.