Seafood producer Royal Greenland delivered a profit before tax of DKK 217 million, approximately £25 million, in the first half of 2026, compared with a loss of DKK 11 million, approximately £1.3 million, during the same period last year.

Owned by the Greenlandic Government and headquartered in Nuuk, Royal Greenland is a vertically integrated seafood business supplying wild-caught seafood from the North Atlantic and Arctic Ocean to markets around the world. Its portfolio includes cold-water prawns, Greenland halibut, Atlantic cod, snow crab and lumpfish roe, with catches landed at more than 40 facilities and factories across Western Greenland and Atlantic Canada.

The improved financial result reflects higher market prices for several of the company’s key species, combined with continued operational improvements across the business. Revenue increased by 16.5%, while sales volumes remained stable compared with the first half of 2025.

Toke Binzer, CEO of Royal Greenland, commented: “We are pleased with the significant improvement in our first-half results. Favourable market conditions have contributed positively, but the results also reflect the improvements we have implemented across our operations over the past years.

“A stronger financial performance enables us to continue investing in the long-term development of our business while strengthening our competitiveness.”

Investing in long-term competitiveness

As part of its INUA 2027 strategy, Royal Greenland is continuing to invest across its North Atlantic operations to adapt to changing fisheries, improve operational efficiency and create greater value from available raw materials.

The company says these investments also demonstrate its long-term commitment to the coastal communities in which it operates by supporting local employment, developing skills and creating sustainable value.

Current projects include the modernisation of processing facilities in Greenland to support increased cod processing, improve raw material utilisation and increase value creation. Royal Greenland is also investing in its Canadian operations to improve production efficiency, strengthen local capabilities and support the long-term development of coastal communities.

Binzer added: “Fisheries are changing, and our business must evolve accordingly. We continue to invest where we see the greatest long-term potential, whether through modernising our production footprint, improving raw material utilisation or adapting our operations to changing resource availability.

“These investments strengthen our competitiveness while reinforcing our long-term commitment to the communities where we operate across the North Atlantic.”

Continuing the transformation

Despite the significantly improved financial performance, Royal Greenland remains focused on strengthening the business. Cost levels remain high, while declining shrimp quotas continue to challenge the availability of raw materials in parts of the North Atlantic.

The company expects its earnings to continue improving during the second half of 2026. Market conditions remain favourable, although geopolitical uncertainty continues to affect global markets.

Royal Greenland will maintain its focus on operational improvements, cost efficiency, securing access to raw materials and increasing sales of value-added seafood products.

The company will be exhibiting at IFE 2027, part of Food, Drink & Hospitality Week, taking place at Excel London on 5–7 April.