5.6 ESTONIA
Short description of the national fleet
Fleet capacity
In 2015, the Estonian Baltic Sea fishing fleet consisted of 1 534 registered vessels, with a combined gross tonnage of 5.9 thousand GT and engine power of 31.8 thousand kW. The size of the fleet continued to increase compared to previous years. However, the GT and kW decreased slightly. The reason for this contradiction is the different trends in the large- scale and small-scale fleets. If the number of open sea trawlers decreased by 4 vessels, the small-scale fleet showed an increasing trend (23 boats were added). Due to fishing capacity had been released in large-scale segments, the Ministry of Agriculture have decided to use that capacity to meet the additional need of small-scale fishing boat entry into the register.
Fleet structure
The Estonian Baltic Sea fishing fleet is nationally divided into a large-scale fleet (2% of total vessels in 2015) and a small- scale fleet (98% in 2015). The large-scale fleet operates outside the coastal zone. The fleet is using mainly pelagic trawls and is divided into two size groups (12-18m and 24-40m). The small-scale fleet operates in Estonian coastal waters using mainly passive gears and is also divided into two size groups (0-10m and 10-12m).
Employment
Employment was estimated at 2 070 jobs, corresponding to 497 FTEs in 2014. The number of total employed increased, but the FTE decreased at the same time. It refers to the increase in the number of persons for whom fishing is not the only source of income. The average age of employees was around 50 years.
Effort
An estimated 151 thousand days were spent at sea in 2014. The amount of energy consumed increased 4%, which is related to the increase in the number of days at sea. The 8% reduction in energy costs was a result of the lower fuel prices.
Production
The live weight landed by the Estonian Baltic Sea fleet in 2014 was 54.8 thousand tonnes of seafood, with a landed value of €14.5 million. Although the total weight of landings remained rather stable in 2014 the total value of landings decreased 6%. The reason of this was the fall in the first-sale prices for key species (European sprat, Atlantic herring, and European perch).
In 2014, European sprat generated the highest value (€6 million) landed by the Estonian Baltic Sea fleet, followed by Atlantic herring (€4.7 million) and European perch (€2.2 million). In terms of landings weight, European sprat landings were 28.5 thousand tonnes, Atlantic herring 23.1 thousand tonnes and European perch 1.7 thousand tonnes.
Economic results for 2014 and recent trends
National fleet performance
The Estonian national fleet was profitable in 2014, despite of lower first sales prices for key species. Losses in income were covered mainly by lower fuel prices and operational costs. The improvement in economic performance will be not expected also in 2015. Although the fuel prices remain low, the first sales prices for top two species fall further.
Revenue, estimated at €14.7 million, decreased 6% due to a 6% decrease in landings income, however the other income (€0.2 million) increased 12%.
Total operating costs decreased due to the 34% decrease in repair & maintenance costs as crew costs increased 9%. When including capital costs, total costs amounted to €13.1 million.
Gross Value Added (GVA), gross profit and net profit in 2014 were estimated at €9.3 million, €3.9 million and €1.7 million, respectively. GVA increased 1%, gross profit and net profit decreased 6% and 26%, respectively. These results indicate deterioration in the economic situation compared to 2013.
The (depreciated) replacement value of the Estonian fleet was estimated at €19.2 million and investments amounted to €1.6 million, a 25% decrease compared to 2013.
Overall, the cost structure has remained relatively constant over the years, with apparent decrease in energy costs.
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Resource productivity and efficiency indicators
The gross profit margin in 2014 was 26.7%. Net profit margin was estimated at 11.2%, a 22% decrease compared to 2013.
The Rate of Return on Fixed Tangible Assets (RoFTA) decreased in comparison to 2013 but remained rather a higher level compared to previous years.
Labour productivity (GVA/FTE) continued improved development trend since 2012 when this indicator reached its lowest level between 2008 and 2014.
Fuel consumption per landed tonne and landings in weight per unit of effort (in days at sea) has followed rather decreasing trend compared to 2008.
Drivers affecting the economic performance trends
Changes in first sale fish prices and fuel prices were the main driving forces behind the economic performance in 2014. The decrease in average prices of several important species, such as sprat, herring and perch led to a decrease in income and had a negative impact on profitability. The decline in fuel prices helped to alleviate the situation. The average prices for sprat and herring fall further in 2015 and this affects mainly the performance of large scale fleet. However, the live weight of landing increases in 2015. The reason for that is a large increase (48%) in final available herring quota. Also the fuel prices remain low which helps to save operational costs.
Markets and Trade
Sprat and herring were mainly landed at Estonian ports, where the catch was sold to fish freezing or processing companies, unless the fishing company itself was engaged in the processing and marketing of fish. Estonian trawlers landed fish at 15 Estonian ports. Only 3% of large-scale fleet landings occurred in foreign harbours in 2014. Fish was landed in Latvia, Poland, Sweden and Denmark.
Most of the sprat and herring caught by the large-scale fleet have been sold on the eastern market (Russia, Ukraine et al.) in frozen form. Cod and flounder, on the other hand, were landed and sold at foreign ports mostly Poland and Latvia. At the end of 2013, Russia’s restrictions on imports in Russian Customs Union countries caused concern for companies operating in the fisheries sector. For majority of companies were banned the import of production. Only few companies retained the opportunity to sell fish to Russian market. But it lasted until August 2014 when Russia imposed a complete embargo on many food products. For some time the Russian border remained open only to canned fish and spiced sprat. But also the sales of these products were not going well, because of due to inflation, for Russians this was already too expensive fish. War in Ukraine reduced also fish export to Ukraine. Fish exporters began to deep-freeze and store their production in refrigerator warehouses. Generally fresh fish can be frozen for half a year. During this time, companies made attempts to find new markets. Among others, attention focused also towards of export markets in Asia and Africa. Today, about a third of caught sprats and herring go to animal feed, mainly to Danish fur farms.
Management instruments
The procedure for fishing an all water bodies are prescribed in the Fishing Rules established by the Government of Estonia. The main management measures in Estonia are volume quotas (ITQs) in the open water fisheries (trawling) and gear usage quotas (ITE; individual transferable effort) in the coastal fisheries. Fishing quotas are allocated according to the historic fishing rights. The Estonian experience shows that ITQs can be considered an effective method for increasing the allocation of fishing rights to the most efficient enterprises and speeding the process of reducing excessive fleet capacity. The size of the large-scale fleet decreased 47% between 2008 and 2014 (from 64 to 34 vessels). The main reason for that change was capacity reduction to achieve balance between the size of the fishing fleet and fishing opportunities.
TACs and quotas
Herring, sprat and cod are main internationally regulated/managed fish species targeted by the Estonian Baltic Sea fishing fleet. Total final available quota (after quota transfers) for the fleet in 2014 was 56 865 tonnes. The quota for herring increased 11% to 25 050 tonnes but remained rather stable for sprat and cod, 27 489 tonnes and 1 681 tonnes respectively. The quota uptake levels for herring, sprat and cod were 92%, 95% and 10%, respectively. Predicted low profitability rate was the reason for low quota use of cod.
In 2015, total final quota increases 15% to 6 5307 tonnes. The reason for that is a large increase (48%) in herring quota. At the same time the sprat and cod final quotas decline by 11% each.
Status of Key Stocks
International acoustic surveys of pelagic fish stocks conducted in the Baltic Sea in recent years show that stocks have declined mainly in the southern part of the Baltic Sea and that the lion’s share of stocks is now located in the central and north-eastern parts of the sea. Thus, the current status of the sprat stock in the economic zone of Estonia can still be regarded as relatively satisfactory. However, it should be noted that fishing prospects still depend on the overall status of
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the stock in the Baltic Sea, i.e. the relatively better situation in our waters does not automatically mean better fishing opportunities for our fishers.
Unlike sprat, which is treated as a single stock unit i.e. population across the Baltic Sea, in the case of herring the state of stocks is assessed and advice for exploitation is given for four stock units in different subdivisions of the Baltic Sea. Only two stock units, Central Baltic herring and Gulf of Riga herring, are offering more interest to Estonian fishers. The current status of these herring stocks is regarded as relatively satisfactory.
There is still no commercial cod resource in Estonian waters, and directed fishing for this species is not economically feasible. However, Estonian vessels fish for cod in the Southern Baltic in small quantities. Perch is the most important species in coastal fishery. The perch catches have been relatively stable in recent years, although according to researchers estimate the perch stock is not managed in the most rational way.
Innovation and Development
Innovative and development activities are related to modernization of fishing vessels and ports, but also improvements of fishing gears. For example, in order to reduce fuel consumption old trawl nets are replaced with new ones which have lower resistivity. In order to enhance the protection of fish stocks through the implementation of technical measures, the selectivity and fishing capacity of various commercial fishing methods and types of gear are studied in collaboration with local scientists. A study has also been directed to the mitigation of negative impact of seals in the Estonian coastal fisheries using AHD's (Acoustic Harassment Device) and seal-proof netting material.
Performance by fishing activity
Large-scale fleet
The large-scale fleet operates outside the coastal zone using mainly pelagic trawls. The fleet targets pelagic species such a sprat and herring, but also cod to a lesser extent. The live weight landed by the large-scale fleet in 2014 was 44.4 thousand tonnes of seafood, with a landed value of €9.5 million. The fleet has been profitable.
In 2014, the weight of landings decreased 1% compared to 2013. At the same time the value of landings decreased 4%. The main reason of this was the fall in the first-sale prices for key species as herring and sprat.
Total operating costs decreased due to the 63% fall in repair & maintenance costs. When including capital costs, total costs amounted to €8.4 million in 2014.
Gross Value Added (GVA), gross profit and net profit in 2014 were estimated at €6.5 million, €2.8 million and €1.1 million, respectively. GVA, gross profit and net profit increased 12%, 18% and 19%, respectively. These results indicate improvement in the economic situation compared to 2013.
The (depreciated) replacement value of the large-scale fleet was estimated at €12 million and investments amounted to €0.6 million, decreased 45% compared to 2013.
Small-scale fleet
The small-scale fleet operates in Estonian coastal waters using mainly passive gears. The largest catches taken in 2014 were of herring, followed by perch, smelt, flounder, pikeperch, roach and pike. The live weight landed by the small-scale fleet in 2014 was 10.4 thousand tonnes of seafood, with a landed value of €5.1 million. Generally the total weight of landings has decreased over the period 2008-2014, but the value of landings increased. This shows a general rise in average prices of key species. The fleet has been profitable.
However, in 2014, the value of landings decreased 10% compared to 2013. The main reason of this was the fall in the first-sale prices for some key species (e.g. herring, perch).
Total operating costs increased due to the 21% increase in crew costs. When including capital costs, total costs amounted to €4.7 million in 2014.
Gross Value Added (GVA), gross profit and net profit in 2014 were estimated at €2.8 million, €1.1 million and €0.5 million, respectively. GVA, gross profit and net profit decreased 17%, 36% and 60%, respectively. These results indicate deterioration in the economic situation compared to 2013.
The (depreciated) replacement value of the small scale fleet was estimated at €7 million and investments amounted to €1 million, remained rather stable compared to 2013.
Performance results of selected fleet segments
The 24-40m pelagic trawlers are the most important segment in the Estonian fishing fleet in the Baltic Sea. In 2014 this fleet segment consisted of 28 active vessels accounting for a total of 3 641 GT and 8 727 kW. The number of vessels decreased by one compared to 2013. Employment in 2014 was estimated at 160 jobs, corresponding to 160 FTEs. The segment targets pelagic species such as sprat and herring. The total value of landings was €9.3 million in 2014. The fleet
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segment was profitable. Gross Value Added (GVA), gross profit and net profit in 2014 were estimated at €6.5 million, €2.8 million and €1.2 million, respectively.
The segment with the highest number of vessels and employment in the Estonian fleet is the 0-10m passive gears segment that operates in the coastal fishery. In 2014 this segment consisted of 1 392 vessels accounting for a total 1 621 GT and 17 534 kW. The number of vessels in this segment increased between 2013 and 2014. The employment in 2014 was estimated at 1 563 jobs, corresponding to 209 FTEs. The fleet targets mostly freshwater species, such as perch, pikeperch, but also marine species such as flounder and herring. The total value of landings was €3.7 million in 2014. The fleet segment was profitable. Gross Value Added (GVA), gross profit and net profit in 2014 were estimated at €1.8 million, €0.8 million and €0.3 million, respectively.
Projections for 2015 and outlook
Preliminary results for 2015 suggest an 8% increase in landed weight, but no change in landed value. Projections suggest mixed changes in costs but an increase in net profits and net profit margins to 30%.
The projections for 2016 show large gains in economic performance with landed weight increasing 14% and landed value increasing 18%. With fuel costs continuing to decline the Estonian fleet has projected gross and net profit margins of 35% and 24% respectively. The Estonian fleet is also one of the few that is expected to increase in vessels and days at sea in 2016.
Data issues
The data concerning economic variables were collected as listed and defined in Appendix VI of Commission Decision 2008/949/EC. For economic variables included in the Estonian Fisheries Information System (EFIS) (which includes logbook data and the fishing vessel register) data were collected on all members of the population. For other economic variables questionnaires were sent out. It is important to mention that all these surveys have been carried out on a voluntary basis. Due to confidentiality issues, the data for the distant-water fleet (DTS VL40XX) are not reported. There were only two owners operating with 4 vessels in this segment in 2014.
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Data source: MS data submissions under the DCF 2016 Fleet Economic (MARE/A3/AC(2016)); All monetary values have been adjusted for inflation; constant prices (2015). Figure 5.6 Estonia: Main trends in economic performance indicators (absolute value, panel 1a/top left and relative value, panel 1b/top right); cost structure (panel 2a); productivity (panel 2b); key input/outputs (panel 3a); efficiency (panel 3b); landings (panel 4a); average price of top species (panel 4b).
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Table 5.23 Estonia: National fleet statistics and economic performance results. Data source: MS data submissions under the DCF 2016 Fleet Economic (MARE/A3/AC(2016)); All monetary values have been adjusted for inflation; constant prices (2015). ∆2014 to ∆2014 to 2008 2009 2010 2011 2012 2013 2014 Trend 2013 avg. 08-13
Total number of vessels (#) 954 955 939 928 917 1,343 1,514 13% 50%
Number of Inactive vessels_ms (#) 10 18 10 10 9 7 1 -86% -91%
Vessel tonnage (thousand GT) 7.6 7.6 7.0 6.4 6.0 6.1 6.0 -2% -11%
Engine power (thousand kW) 30.3 30.4 28.7 26.9 26.1 30.6 32.1 5% 11%
Average vessel age (year) 19 20 21 22 23 21 22 5% 5%
Average vessel length (metre) 8 8 8 7 7 6 6 -2% -14%
Enterprises with one vessel (#) 452 451 462 460 462 838 879 5% 69%
Enterprises with 2 to 5 vessels (#) 232 232 198 196 194 209 228 9% 8%
Enterprises with more than 5 vessels (#) 3 3 2 3 2 3 10 233% 275%
FTE (#) 699 541 521 524 540 514 497 -3% -11%
Total employed (person) 3,002 1,899 1,948 1,993 2,046 2,046 2,070 1% -4%
Days at sea (thousand day) 116 123 108 98 95 138 151 9% 33%
Fishing days (thousand day) 153 165 141 124 120 176 196 11% 34%
Number of fishing trips (thousand) 115 122 108 97 94 138 151 10% 34%
Energy consumption (million litre) 5.45 5.03 4.32 3.91 3.65 2.69 2.80 4% -33%
Live weight of landings (thousand tonne) 83.5 83.5 79.6 63.4 53.3 54.6 54.8 0% -21%
Value of landings (million €) 18.4 16.9 14.7 15.1 14.6 15.5 14.5 -6% -8%
Income from landings (million €) 18.3 16.8 14.7 15.1 14.4 15.5 14.5 -6% -8%
Other income (million €) 0.17 0.10 0.13 0.09 0.12 0.17 0.19 12% 44%
Direct income subsidies (million €) 0.01 0.01 0.01 - - - - -100%
Income from leasing fishing rights (million €) 0.00 0.01 0.01 0.02 0.04 0.01 0.01 37% -26%
Wages and salaries of crew (million €) 5.24 4.90 4.48 4.12 4.28 4.06 4.42 9% -2%
Unpaid labour value (million €) 0.95 0.74 0.79 0.84 0.93 0.99 0.96 -3% 10%
Energy costs (million €) 3.78 2.51 2.77 3.23 3.20 2.11 1.94 -8% -34%
Repair & maintenance costs (million €) 0.98 1.52 1.64 1.80 1.63 2.21 1.45 -35% -11%
Other variable costs (million €) 1.72 1.66 1.56 1.20 1.21 1.32 1.31 0% -9%
Other non-variable costs (million €) 0.63 0.71 0.55 0.69 0.50 0.78 0.72 -7% 12%
Annual depreciation costs (million €) 1.50 1.82 1.92 1.63 1.33 1.85 1.87 1% 12%
Rights costs (million €) - 0.05 0.03 0.02 0.04 0.06 0.06 -8% 68%
Opportunity cost of capital (million €) - 0.42 1.51 0.66 0.08 0.08 0.07 0.41 489% 24%
Tangible asset value (million €) 18.9 19.5 20.6 18.9 17.2 18.3 19.2 5% 1%
Fishing rights (million €) 68.9 67.8 64.8 48.9 39.4 40.5 41.9 3% -24%
Investments (million €) 1.0 1.1 1.9 2.4 1.6 2.1 1.6 -25% -6% Financial position (%) 17.0 17.0 17.0 17.0 17.0 17.0 17.0 0% 0% Gross Value Added (million €) 11.3 10.5 8.3 8.3 7.9 9.2 9.3 1% 0% GVA to revenue (%) 61.4 62.1 56.0 54.5 54.9 58.9 63.2 7% 9% Gross profit (million €) 5.1 4.9 3.0 3.3 2.7 4.2 3.9 -5% 1% Gross profit margin (%) 27.9 28.8 20.4 21.9 19.0 26.6 26.7 0% 11% Net profit (million €) 4.1 1.5 0.5 1.6 1.3 2.2 1.6 -26% -12% Net profit margin (%) 22.0 9.0 3.1 10.7 9.2 14.3 11.2 -22% -2% GVA per FTE (thousand €) 16 19 16 16 15 18 19 5% 12% Return on fixed tangible assets (%) 19 16 5 9 8 13 11 -15% -8%
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Table 5.24 Estonia: National fleet statistics and economic performance results based on fleet segment level data. Data source: MS data submissions under the DCF 2016 Fleet Economic (MARE/A3/AC(2016)); All monetary values have been adjusted for inflation; constant prices (2015). Data for 2015 and 2016 are projected.
∆2015 to ∆2016 to Variable / indictor unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 Trend 2014 2015
Total number of vessels (#) 944 937 929 918 908 1336 1513 1,532 1,567 1% 2%
Total employed (person) 3002 1899 1948 1993 2046 2046 2070 2,181 2,235 5% 2%
FTE (#) 699 541 521 524 540 514 497 506 603 2% 19%
Days at sea (day) 116,203 123,405 108,322 97,716 95,245 137,985 151,025 137,255 191,764 -9% 40%
Energy consumption (thousand litres) 5,446 5,026 4,323 3,910 3,653 2,690 2,795 3,091 2,811 11% -9%
Live weight of landings (tonne) 83,544 83,548 79,572 63,351 53,272 54,557 54,767 59,326 67,401 8% 14%
Value of landings (thousand €) 18,359 16,919 14,685 15,127 14,583 15,454 14,544 14,531 17,109 0% 18%
Income from landings (thousand €) 18,279 16,812 14,685 15,127 14,367 15,454 14,544 14,463 17,026 -1% 18%
Other income (thousand €) 166 98 130 88 122 165 185 168 172 -9% 2%
Wages and salaries of crew (thousand €) 5,236 4,903 4,483 4,123 4,276 4,055 4,421 4,126 5,019 -7% 22%
Unpaid labour value (thousand €) 949 741 789 835 927 988 959 1,031 1,055 8% 2%
Energy costs (thousand €) 3,782 2,513 2,765 3,232 3,198 2,115 1,943 1,809 1,461 -7% -19%
Repair & maintenance costs (thousand €) 982 1,515 1,641 1,801 1,631 2,209 1,446 1,750 1,742 21% 0%
Other variable costs (thousand €) 1,721 1,662 1,555 1,204 1,208 1,317 1,312 1,348 1,371 3% 2%
Other non-variable costs (thousand €) 635 713 553 688 502 778 720 622 604 -14% -3%
Annual depreciation costs (thousand €) 1,503 1,824 1,915 1,630 1,335 1,848 1,869 1,607 1,580 -14% -2%
Opportunity cost of capital (thousand €) - 417 1,460 641 78 81 69 409 188 187 -54% -1%
Tangible asset value (replacement) (thousand €) 18,854 18,812 20,165 18,530 16,891 18,175 19,134 17,550 17,450 -8% -1%
Gross Value Added (thousand €) 11,326 10,507 8,301 8,289 7,950 9,200 9,308 9,102 12,021 -2% 32%
Gross profit (thousand €) 5,141 4,863 3,029 3,330 2,746 4,157 3,928 3,945 5,947 0% 51%
Net profit (thousand €) 4,055 1,579 472 1,622 1,331 2,240 1,650 2,150 4,181 30% 94%
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Table 5.25 Estonia: National fleet statistics and economic performance results by fishing activity. Data source: MS data submissions under the DCF 2016 Fleet Economic (MARE/A3/AC(2016)); All monetary values have been adjusted for inflation; constant prices (2015).
Small Scale Coastal Fleet Large Scale Fleet ∆2014 ∆2014 to ∆2014 ∆2014 to 2008 2009 2010 2011 2012 2013 2014 2008 2009 2010 2011 2012 2013 2014 Trend SSCF Trend LSF to 2013 avg. 08-13 to 2013 avg. 08-13
Total number of vessels (#) 880 884 881 876 872 1,300 1,475 64 53 48 42 36 36 38 13% 55% 6% -18%
Vessel tonnage (thousand GT) 1.8 1.8 1.8 1.7 1.7 2.0 2.2 5.6 5.4 5.0 4.4 4.0 4.0 3.8 10% 22% -4% -19%
Engine power (thousand kW) 14.6 14.6 14.5 14.4 14.6 19.6 22.2 15.0 13.7 12.9 11.2 10.3 10.1 9.8 13% 44% -3% -20%
FTE (#) 444 301 309 320 362 339 333 255 240 212 204 178 175 164 -2% -4% -6% -22%
Total employed (person) 2,727 1,646 1,721 1,777 1,858 1,865 1,895 275 253 227 216 188 181 175 2% -2% -3% -22%
Days at sea (thousand day) 108.9 117.3 103.2 93.0 91.1 134.7 147.7 7.3 6.1 5.2 4.7 4.2 3.3 3.4 10% 37% 1% -34%
Fishing days (thousand day) 145.8 159.1 136.1 119.6 115.5 172.9 192.3 6.9 5.6 4.8 4.2 4.0 3.2 3.2 11% 36% 1% -33%
Number of fishing trips (thousand) 109 117 103 93 91 135 148 6 5 5 4 3 3 3 10% 37% 6% -28%
Energy consumption (million litre) 0.6 0.6 0.6 0.6 0.5 0.5 0.5 4.8 4.5 3.7 3.3 3.1 2.2 2.3 7% -8% 3% -37%
Live weight of landings (thousand tonne) 12.6 14.0 11.2 10.4 8.7 9.6 10.4 70.9 69.5 68.3 53.0 44.5 44.9 44.4 8% -6% -1% -24%
Value of landings (million €) 4.1 4.1 3.9 4.2 4.8 5.6 5.1 14.3 12.8 10.8 10.9 9.7 9.8 9.5 -10% 14% -3% -17%
Income from landings (million €) 4.02 4.08 3.86 4.18 4.84 5.62 5.05 14.26 12.73 10.82 10.94 9.52 9.84 9.49 -10% 14% -3% -16%
Other income (million €) 0.07 0.08 0.08 0.08 0.10 0.17 0.17 0.09 0.02 0.05 0.01 0.02 - 0.01 6% 79% -66%
Direct income subsidies (million €) 0.01 0.01 0.01 ------100%
Wages and salaries of crew (million €) 0.58 0.54 0.46 0.49 0.56 0.58 0.70 4.65 4.36 4.03 3.64 3.72 3.48 3.72 21% 31% 7% -6%
Unpaid labour value (million €) 0.95 0.74 0.74 0.79 0.88 0.99 0.95 - - 0.05 0.04 0.05 0.00 0.01 -4% 12% 345% -69%
Energy costs (million €) 0.67 0.53 0.69 0.71 0.72 0.59 0.57 3.11 1.98 2.08 2.52 2.48 1.53 1.37 -3% -12% -10% -40%
Repair & maintenance costs (million €) 0.60 0.61 0.63 0.63 0.64 0.97 0.98 0.38 0.91 1.01 1.17 0.99 1.24 0.46 2% 44% -63% -51%
Other variable costs (million €) 0.42 0.47 0.44 0.43 0.41 0.77 0.78 1.30 1.19 1.12 0.77 0.79 0.55 0.54 0% 58% -1% -44%
Other non-variable costs (million €) 0.04 0.04 0.04 0.04 0.04 0.10 0.10 0.59 0.67 0.51 0.64 0.46 0.68 0.62 3% 95% -9% 4%
Annual depreciation costs (million €) 0.38 0.40 0.40 0.38 0.39 0.48 0.48 1.12 1.43 1.52 1.25 0.95 1.37 1.39 -1% 18% 2% 9%
Opportunity cost of capital (million €) - 0.18 0.61 0.24 0.03 0.03 0.03 0.15 - 0.23 0.85 0.40 0.05 0.05 0.04 0.26 459% 22% 515% 33%
Tangible asset value (million €) 8.2 7.9 7.6 7.1 6.6 7.2 7.2 10.6 10.9 12.6 11.4 10.3 10.9 11.9 -1% -3% 9% 7%
Investments (million €) 0.3 0.2 0.3 0.3 0.3 1.0 1.0 0.6 0.9 1.6 2.1 1.4 1.1 0.6 -5% 142% -45% -53%
Gross Value Added (million €) 2.4 2.5 2.1 2.4 3.1 3.4 2.8 9 8 6 6 5 6 7 -17% 5% 12% -1%
GVA to revenue (%) 57.7 60.3 54.3 57.2 63.2 58.0 53.4 62.5 62.7 56.6 53.4 50.6 59.4 68.6 -8% -9% 15% 19%
Gross profit (million €) 0.8 1.2 0.9 1.2 1.7 1.8 1.1 4 4 2 2 1 2 3 -36% -10% 18% 7%
Gross profit margin (%) 20.2 29.6 23.9 27.2 34.2 31.0 21.9 30.1 28.5 19.2 19.8 11.1 24.0 29.3 -29% -21% 22% 33%
Net profit (million €) 0.6 0.2 0.3 0.8 1.3 1.3 0.5 3.4 1.4 0.2 0.9 0.1 1.0 1.1 -60% -31% 19% 0%
Net profit margin (%) 15.4 5.3 7.7 17.7 25.7 22.2 9.8 23.9 10.6 1.5 7.9 0.6 9.7 12.0 -56% -38% 23% 32%
GVA per FTE (thousand €) 5.3 8.3 6.9 7.6 8.6 9.9 8.4 35.2 33.3 29.0 28.7 27.1 33.4 39.7 -15% 8% 19% 28%
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Table 5.26 Estonia: National fleet statistics and economic performance results by fleet segment. Data source: MS data submissions under the DCF 2016 Fleet Economic (MARE/A3/AC(2016)); All monetary values have been adjusted for inflation; constant prices (2015).
Energy Return on Net profit Total consumed Gross Net GVA per FTE fixed margin number Days at per landed Live weight Value of Gross Value GVA to profit profit Average (labour tangible %∆ 2013 - Economic of vessels FTE sea tonne of landings landings Revenue Added revenue Gross profit margin Net profit margin wage per FTE productivity) assets Profitability average development (#) (#) (day) (l/tonne) (tonne) (thousand €) (thousand €) (thousand €) (%) (thousand €) (%) (thousand €) (%) (thousand €) (thousand €) (%) (2014) (2008-13) trend EST A27 TM2440 ° 28 160 3,078 52 43,525 9,317 9,326 6,457 69.2 2,824 30.3 1,198 12.85 22.7 40 12 High 36% Improved EST A27 PG0010 1,392 209 146,192 107 3,281 3,676 3,817 1,780 46.6 778 20.4 339 8.89 4.8 9 10 Reasonable -47% Deteriorated EST A27 PG1012 83 124 1,470 24 7,122 1,375 1,408 1,011 71.8 364 25.9 171 12.13 5.2 8 9 High -7% Deteriorated EST A27 TM1218 ° 10 4 285 36 839 177 178 60 33.6 - 38 - 21.2 - 58 - 32.76 24.4 15 - 27 Weak -269% Deteriorated
Table 5.27 Estonia: Landed value, weight and average price of principal species. Data source: MS data submissions under the DCF 2016 Fleet Economic (MARE/A3/AC(2016)); All monetary values have been adjusted for inflation; constant prices (2015).
Value of landings (real) Live weight of landings Average landed price (real) (million €) (thousand tonne) (€) 2008 2009 2010 2011 2012 2013 2014 2015 2008 2009 2010 2011 2012 2013 2014 2015 2008 2009 2010 2011 2012 2013 2014 2015 European sprat 9.67 8.29 7.07 6.43 5.88 6.59 5.99 4.55 48.58 47.30 47.86 34.98 28.34 29.81 28.50 23.95 0.20 0.18 0.15 0.18 0.21 0.22 0.21 0.19 Atlantic herring 5.96 5.36 4.27 4.38 5.09 4.77 4.68 6.17 31.83 33.16 28.86 25.33 22.46 21.94 23.13 32.32 0.19 0.16 0.15 0.17 0.23 0.22 0.20 0.19 European perch 1.28 1.42 1.63 1.65 1.38 2.27 2.22 2.40 0.70 0.81 0.88 0.80 0.55 1.22 1.71 1.52 1.83 1.75 1.85 2.08 2.51 1.87 1.30 1.58 Pike-perch 0.18 0.23 0.33 0.45 0.67 0.48 0.68 0.38 0.06 0.07 0.07 0.11 0.15 0.12 0.17 0.08 2.82 3.42 4.56 4.07 4.56 3.93 3.91 4.58 European flounder 0.14 0.14 0.14 0.16 0.13 0.18 0.22 0.20 0.28 0.29 0.29 0.28 0.24 0.28 0.31 0.24 0.49 0.49 0.50 0.56 0.55 0.64 0.72 0.82 European smelt 0.24 0.21 0.16 0.17 0.32 0.52 0.16 0.16 0.74 0.77 0.45 0.20 0.41 0.52 0.23 0.44 0.33 0.27 0.35 0.84 0.78 1.01 0.67 0.36 Atlantic cod 0.63 1.05 0.83 1.53 0.79 0.24 0.16 0.17 0.97 0.82 0.80 1.18 0.69 0.25 0.17 0.18 0.64 1.28 1.05 1.30 1.14 0.96 0.96 0.95 European whitefish 0.06 0.05 0.05 0.03 0.06 0.08 0.10 0.09 0.03 0.02 0.02 0.01 0.02 0.03 0.03 0.02 2.09 2.18 3.12 2.19 2.82 2.94 4.02 4.44 Northern pike 0.02 0.02 0.03 0.05 0.05 0.09 0.09 0.08 0.02 0.01 0.02 0.03 0.04 0.07 0.07 0.05 1.15 1.23 1.19 1.44 1.30 1.37 1.40 1.61
Garfish 0.04 0.04 0.05 0.09 0.02 0.03 0.05 0.08 0.08 0.07 0.09 0.12 0.03 0.02 0.04 0.12 0.44 0.50 0.53 0.77 0.92 1.44 1.16 0.68
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