2020 has unfortunately started in a way that none of us could have foreseen. The COVID-19 (the coronavirus) pandemic has spread across the globe, and no industry is unaffected and market situation is impacted.
The Grieg Groups’ operations are influenced by international trade and economy. We monitor the situation closely, but the extent and duration of these effects are still uncertain and cannot be predicted at this time, says Elisabeth Grieg, Chair of the Board in Grieg Maturitas.
During 2019 the Grieg Group continued to develop positively in most business areas. The year was characterized by consolidation and operation within new corporate structures, continued digitization of our services both nationally and internationally, and implementation of the UN’s Sustainability Goals in all our companies.
The Grieg Group had a total profit before tax of NOK 1,036 million, with a turnover of NOK 10,6 billions. Equity is NOK 7.9 billions (47%), and the Group is well positioned for the future and for today’s challenging markets with the COVID-19 outbreak.
-We consider 2019 to be a good year for the Grieg Group, says Elisabeth Grieg.
- Another strong year in Grieg Seafood, good market, and increased production – harvest volume 82 973 tonnes and target of harvest volume of 150 000 tonnes in 2025.
- Grieg Star improved earnings due to cost reductions and continuous development- and improvement of process, as well as increased synergies from the G2 Ocean collaboration.
- Grieg Shipbrokers, general progress in most segments, but is facing a challenging market globally. Increased activity on purchases and sales, including service vessels within the seafood business.
- Grieg Logistics´ continues to invest in the sale of digital services and systems to ports and terminals through Grieg Connect, the company has strengthened its market position. Grieg Logistics’ results were affected by lower activity from their agency services.
- Grieg Green has further strengthened its position, as one of few companies providing sustainable ship and rig recycling.
- Grieg Investor has had its best year ever both in terms of income and profit, and a strong customer growth.
- Grieg Kapital has had its first year of operation and is established to coordinate our financial investments and to strengthen the Group’s asset management.
- In 2019, the Grieg Group has implemented the UN Sustainability Goals as part of the business strategy in all companies, with common Sustainability Goals at the Group level.
-Our commitment to sustainability and, in particular, our support to clean and clear the ocean of plastic is an important goal in all our companies, including our work and support from the Grieg Foundation, says Elisabeth Grieg, Chair of the Board in Grieg Maturitas.
The Grieg Foundation owns 25% of the Grieg Group. The foundation supports local and international projects for education of children and youth, music and culture, medical research, environmental projects, and social impact investment projects. In 2019, Grieg Foundations’ contribution amounted to NOK 44 million. Since its establishment, the foundation has distributed approx. NOK 637 million.
Se the annual report here