Last year’s accounts from Nova Sea were announced last week, and show a turnover of close to NOK 2.7 billion (€265 million), compared with NOK 2.9 billion (€285 million) the year before. Net profit (after NOK 162 million in tax expense) ended at NOK 640 million (€63 million), compared to NOK 879 million (€86 million) the year before.
Despite a somewhat lower result, the board of the company, partly owned by Mowi, has maintained the strategy of a four per cent profit share with the employees, in addition to a performance-based bonus. The company states that NOK 45.9 million (€4.5 million) of the profit has been set aside for profit sharing and bonuses for the employees. Per employee, last year’s bonus payment amounted to NOK 148,000 (€14,560) per full-time equivalent, including holiday pay and pension, writes Helgelands Blad .
Creates ripple effects
Over the past five years, the company has distributed NOK 260 million (€26 million) in profit sharing and bonuses to employees. For an entire man-year, over five years, this amounts to close to one million kroner.
“Why does the company have such a bonus policy?”
“The profit sharing has always been a big part of Nova Sea. Everyone who works at Nova Sea contributes just as much to us performing as well as possible based on the prerequisites we have. Therefore, the board has decided that everyone should get a share of the profits that are created, even in what has been an uncertain time. In addition, it contributes to commitment and pride among
those who work in Nova Sea, and ripple effects for our local communities,” said CEO Tom Eirik Aasjord to Helgelands Blad.
Satisfied, after all
Despite the fact that the accounts last year show a slight downward trend, compared with the previous year, Aasjord is satisfied.
“Overall, we are very pleased with the result for 2020.”
“Despite the corona and the challenges it brought, we have achieved good results. Much of this is due to very dedicated and skilled employees and the efforts they make every day for Nova Sea. In addition, our biological performance throughout 2020 has been generally good and the market impressively adaptable, given the situation the world has been in. This again shows the salmon’s strong position as a healthy, good and preferred product,” said Aasjord.