Nova Sea staff see €23,000 in bonuses — each!

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Some 250 employees of Nova Sea — nestled on a five-square-kilometre island called Lovund — can now bolt to their local bank machine, however hard-up for space.

Generous: manager Odd Stroem of Nova Sea

“On average, there’s 220,000 (EUR 23,000) and vacation pay for those who have worked the whole year,” manager Odd Stroem said in letter to SalmonBusiness.

“Some 250 staff at Nova Sea are covered by the measure,” he said.

Every year, employees get four percent of company net profit. In addition, there are performance-based bonuses.

In 2017, the company sold 40,700 tonnes of gutted salmon and saw turnover of EUR 270 million. That yielded a pre-tax profit of EUR 110 million and full-year profit of EUR 91 million, the company told SalmonBusiness.

So, the rounds are all on Stroem again, as he gives away to staff a total of around EUR 5.7 million. In 2016, he rang out EUR 21,000 to each employee, while in 2015 staff saw NOK 9,900 each in bonuses.

So, over a three-year stretch, each employee has seen a half-million kroner in bonuses — or enough cash to salt their stews and adds sauce to their Friday tacos.