Fish Processing in Karmøy: Current Status and Outlook

The fish processing industry in Karmøy is a small, static sector with 8 registered companies, but no employees and zero sales revenue after 2016. The industry shows signs of structural challenges, with no wage growth and a drastic sales decline from 2016 to 2017. Although no companies are registered in bankruptcy, the figures indicate an industry in stagnation. For entrepreneurs, this may signal a need for innovation or differentiation to create value in a competitive market.

The fish processing industry in Karmøy has been marked by a drastic decline in sales and employees:

• Sales: 2.0 million NOK in 2016, but zero in all years from 2017 onward.
• Employees: 6 employees in 2020, but only 2 in 2021 (a decline of 66.7 %).

This shows an industry in stagnation, with no wage growth and a complete cessation of activities after 2016. There is no data on operating profit or EBITDA for companies in the industry, which suggests a lack of economic activity.

There are 8 companies registered in the fish processing industry in Karmøy, with the following organizational forms:

Note: Sildakongen As is the only company with a negative operating profit (EBITDA), but all companies have zero sales and no employees.

Fish processing activities in Karmøy are distributed across several districts:

• Stol: 2 companies (Ferkingstad Høvring)
• Åkrehamn: 1 company (Hansen Fisk Og Skalldyr)
• Skudeneshavn: 2 companies (Jensen)
• Avaldsnes: 3 companies (Kyvik Sild As, Sildakongen As)

There is no clear concentration of activity in a single district, which suggests a dispersed distribution of fish processing operations in the municipality.

The industry shows no signs of dynamism or growth:

• Bankruptcies: No companies in the industry are registered in bankruptcy.
• Operating Profit: All companies have zero sales and no employees, with the exception of Sildakongen As, which has a negative EBITDA of -16.0K NOK.

This indicates an industry in stagnation, with no wage growth and a lack of economic activity. There is no data on lease agreements or operating costs for the companies, which makes it difficult to assess potential challenges for entrepreneurs.

For entrepreneurs in the fish processing industry in Karmøy, the data suggest a challenging market situation:

• Low competitiveness: No wage growth and zero sales after 2016.
• Lack of operational activity: All companies have zero employees and no sales.
• Need for innovation: To create value, entrepreneurs should consider unique differentiation strategies, such as focusing on local markets or specialized products.

SmartGrunder can help entrepreneurs explore potential addresses in Karmøy for fish processing operations, with a focus on natural distributions and market opportunities.

The service industry in Karmøy is significantly larger in scope than the fish processing industry, with 76 companies and operating income exceeding 1.7 billion NOK in 2021. Compared to the fish processing industry, the service industry shows a more stable development, with a growth rate of 1.7 % in 2021. Peer companies in the service industry, such as supermarkets and discount stores, have positive EBITDA and higher sales (up to 101.7 million NOK for Extra Kopervik). This shows that the service industry has greater growth potential and wage stability than the fish processing industry.

The fish processing industry in Karmøy is a small, static sector with no wage growth and zero sales after 2016. For entrepreneurs, this may indicate a need for innovation and differentiation to create value in a competitive market. The service industry in the municipality shows a more stable development, with higher sales and more companies. SmartGrunder can help entrepreneurs explore potential addresses in Karmøy for fish processing operations, with a focus on natural distributions and market opportunities.