Icelandic seafood company Samherji said it achieved revenues of €542 million (US$617 million) and a gross operating profit of €73.9 million (US$84.1 million) in full year 2025.
The gross operating profit is €12.5 million (US$14.2 million) higher than that of full year 2024.
Operating profit peaked at €50.4 million (US$57.3 million) in 2025 compared to €42.4 million (US$48.2 million) the previous year, an increase of nearly 19 per cent. Samherji said the increase in operating profit is primarily attributable to high product prices in whitefish markets and solid core operations.
Profit after tax was €58.6 million (US$66.7 million). Assets at year-end amounted to €892.5 million (US$1.015 billion), and equity amounted to €676.8 million (US$769.9 million). The equity ratio at year-end was 75.8 per cent.
"Samherji's financial statements show that the company's operations are sound and its finances are strong," said Baldvin Thorsteinsson, CEO of Samherji. "This enables the company to pursue investments that strengthen its competitive position and that of the Icelandic fishing industry."
Samherji Fish Farming has secured financing of a new land-based salmon farming facility in Reykjanes. As part of the financing, new domestic and foreign shareholders joined the company.
Following these ownership changes, Samherji now owns a 61.5 per cent stake in the parent company of Samherji Fish Farming, down from almost 100 per cent at the beginning of the year.
The company's fresh fish trawlers landed 26,691 tonnes of fresh raw material last year. Cod was the largest catch at approximately 16,000 tonnes. As in previous years, haddock, saithe, and redfish were the other main demersal species.
The majority of catch from fresh fish trawlers was processed in Samherji's fish processing plants in the Eyjafjördur area in Dalvík and Akureyri. In total, the plants received 33,166 tonnes of raw material during the year.
Samherji's pelagic vessels landed 51,287 tonnes of raw material during the year. Blue whiting accounted for the largest share at 22,262 tonnes.
Samherji also reported that 2025 was a good year for product sales, and that market conditions were favourable. This is reflected in the increase in turnover at Ice Fresh Seafood, Samherji's sales and marketing arm. Demand grew for most fish species throughout the year.
Markets for cod products were particularly favourable, with demand continuing to grow into 2026. At the same time, market conditions for farmed salmon and Arctic char were more challenging, although overall sales were good.
