Business accounts

04. Oct 2024
Pelagic fisheries profits up 40% in 2023

Financial statistics by industry are updated for the 2020-2023 period. The theme pages, available under the 'Business' tab above, are also updated for all industry branches.

The new figures show a good overall trend for all industries in 2023 compared to the last few years. The Covid-19 pandemic resulted in a total profit decrease for all industries of more than DKK 1 billion from 2019 to 2020. In 2021, however, the industries managed to bring total profits up to DKK 2.8 billion, and for 2023, total profits reached DKK 3.8 billion.

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Agriculture and fishing had highest profits in 2023, but down from 2022

‘Agriculture and Fishing’ saw profits of DKK 1.5 billion in 2023, down 12% from 2022. Profits in ‘Manufacturing’ amounted to DKK 970 million, up 41% year-on-year. In ‘Wholesale and retail trade; Repair of motor vehicles and motorcycles’, profits were DKK 374 million, a decrease of 32% compared to 2022.

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Aquaculture profits drop 17%

Within ‘Agriculture and Fishing’, the highest profits were reported in ‘Aquaculture’ and ‘Pelagic fisheries’. ‘Aquaculture’ profits amounted to DKK 975 million, down 17% on 2022, while ‘Pelagic fisheries’ profits were DKK 583 million, up 40% from DKK 418 million in 2022.

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Manufacturing profits up 40%

‘Manufacturing’ reported DKK 970 million in profits in 2023, 40% more than in 2022.

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Within this category, ‘Manufacture of food products’, especially the 'Processing and preserving of fish and crustaceans and molluscs' subcategory, saw particularly high profit growth, rising from DKK 508 million in 2022 to DKK 802 million in 2023. This subcategory includes 'Processing and preserving of fish and crustaceans and molluscs', ‘Production of fishmeal and fish oil’ and ‘Processing of salmon and trout’.

For clarification of the classification system, see the NACE section of the box at the bottom of this article.

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Wholesale and retail profits fell 32%

‘Wholesale and retail trade; Repair of motor vehicles and motorcycles’ reported DKK 374 million in profits in 2023, down 32% from 2022.

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Within this category, ‘Wholesale trade, except of motor vehicles and motorcycles’ saw a particularly substantial profit decrease, falling from DKK 425 million in 2022 to DKK 261 million in 2023. Looking further into the subcategories of ‘Wholesale trade, except of motor vehicles and motorcycles’, we see that ‘Wholesale of solid, liquid and gaseous fuels and related products’ fell by 5% from DKK 89 million in 2022 to DKK 85 million in 2023. ‘Wholesale of other food, including fish, crustaceans and molluscs’ profits plunged 66% from DKK 245 million in 2022 to DKK 82 million in 2023, and ‘Wholesale of wood, construction materials and sanitary equipment’ dropped 32% from DKK 52 million in 2022 to DKK 35 million in 2023.

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All-time high profits in transport and storage

The ‘Transport and storage’ industry was severely affected by the Covid-19 pandemic; however, profits have been on a steady increase since then, reaching a record high of DKK 286 million in 2023. This is a seven-fold increase on the 2021 figure.

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