People, Planet, Profit
The wild seafood stocks in the North Atlantic and the Arctic region form the base of our company and is the basis of life for many people.
In Royal Greenland we operate a sustainable, responsible business based on the triple bottom line of People - Planet - Profit. We strongly believe that social, environmental and financial performance go hand in hand
Royal Greenland operates in multiple locations in a widespread geographical area. Across locations cohesion is pursued via common values, knowledge and skills. A solid educational program is offered to employees and, for some personal development courses, also to their families. Particular attention is paid to:
- Strengthening the personal development for employees through courses and mentor schemes
- Promoting professional competencies through training
- Developing the company's managers through higher education
Royal Greenland Academy
The Royal Greenland Academy, which is the core of our training of production workers operates at a high level of activity. Numerous courses in e.g. personal development and at management level several individual courses at business degree and master level are set in motion.
Trainees and apprentices
A training and apprenticeship strategy of providing good and worthwhile training for trainees and apprenticies is being followed. In the financial year 2014/2015 a total of 30 traineeships and apprentice positions were held in the Group.
Higher educational level
As a new initiative, Royal Greenland is supporting Greenlandic students in short-cycle higher vocational education, in particular in the programs Process Technician, Fishery Technologist, Ship’s Engineer and Trainee Mate.
Royal Greenland engages in co-operation at various levels in order to ensure long-term sustainability for the fisheries in the North Atlantic and the Arctic Ocean. In Greenland, Sustainable Fisheries Greenland is the central body handling Greenlandic matters on MSC applications and pre-assessments in close co-operation with actors from the industry.
Scientific study on seabed habitats and ecosystems
Royal Greenland is currently participating in a Ph.D. study on seabed habitats and ecosystems in collaboration with the Greenland Institute of Natural Resources. The project titled 'Towards Sustainable Management of Marine Benthic Ecosystems in Greenland – in relation to national and international standards' is expected to be concluded in November 2016.
The project will contribute with knowledge on vulnerable eco systems in the seas surrounding Greenland. This focus on vulnerable eco systems is especially interesting in order to protect and preserve the areas that hold rare species. The aim is to create an interactive map, where fishermen and other interested stakeholders can see where the eco systems can be found and to what extent they are vulnerable, defined by red, yellow and green indicators. The findings will result in an in-depth understanding of the species living in these eco systems and provide fishermen with guidelines for the prawn fishery, as the research is centered within their habitat.
In 2015, the total commercial utilisation of all species of fish and shellfish purchased in first sales for Royal Greenland’s factories in Greenland amounted to 66%. Prawn shells are already used at the factory in Ilulissat to produce shrimpmeal. The production equipment was renewed in 2014/15, and the quality of the shrimpmeal has been improved.
Greenland halibut is a species for which large parts of the fish are fit for human consumption. The yield has increased over the years, and was 91% on average in 2015. More or less all parts of the fish are used, so that only the skin and bones are discarded. The head, tail, frills and fillets are sold, and a proportion is also sold as whole fish.
Utilization of by-products
It is an ongoing task to focus on utilizing as much of the by-products from primary production as possible. Our Innovation teams are continuously exploring new ways of utilizing by-products such as fish skin, prawn shells and by-catch. Furthermore Royal Greenland is engaged in various academic research projects on the utilization of by-products and protein supply.
On the basis of our origin in the North Atlantic and the Arctic Ocean as well as our strong anchoring in high-quality products, Royal Greenland’s main task is to develop and process marine resources for the maximum benefit of the local communities and our owners. This must be done on a sustainable basis, in terms of both resources and finances.
In the financial year 2014/2015 the net profit after tax was DKK 113 million. Together with an equity of DKK 1.3 billion, it demonstrates that Royal Greenland is a commercially strong and financially sound company.
In Greenland, the basis for income stemming from Royal Greenland's activities in the local communities is paramount. Corporate taxes, dividend and fishery taxes are paid directly based on the results and activities. Furthermore, via wages to employees, purchasing from local fishermen and various purchases from all types of companies delivering goods and services to Royal Greenland, the company contributes broadly to the local communities and our owners.