Webcast: The importance of the aquaculture industry in the Faroe Islands

07.12.2022

At Bakkafrost, we are committed to community engagement, and we aim to educate our community about the business.
As part of the work to ensure open and transparent communications with industry, stakeholder groups and our community, Odd Eliasen, COO at Havsbrún feed department, and Høgni Dahl Jakobsen, CFO at Bakkafrost, had a presentation on the development of the aquaculture industry and the importance of the industry to the Faroese community.

Some highlights are:

• The aquaculture industry is the biggest export industry in the Faroe Islands
• The Faroese aquaculture industry is expected to pay 600 mDKK in taxes in 2022
• Taxes from the aquaculture industry will increase to 900-1,100 mDKK by 2026 when harvest volume reaches 150 kt.
• Since 2016, Bakkafrost has purchased 13.3bn DKK from Faroese suppliers
• Compared to peers, Bakkafrost has the highest investment rate per produced tonne

Watch Odd Eliasen’s presentation here: https://vimeo.com/778781034/96ae2d0952

Watch Høgni Dahl Jakobsen’s presentation here: https://vimeo.com/778781129/eb9c15b2f4