Operation and community

Brim’s Board of Directors consists of five people who are elected at the company’s Annual General Meeting each year.

Brim’s Board of Directors from the 2022 AGM:

• Kristján Þ. Davíðsson, Chairman
• Anna G. Sverrisdóttir, Vice-Chairman
• Hjálmar Kristjánsson
• Kristrún Heimisdóttir
• Magnús Gústafsson

Further information about the Board of Directors can be found on the company’s website, which also includes the company’s articles of association, rules of procedure, governance statement, remuneration policy and other company policies. They are also available to employees on Brim's internal website, where policy changes are announced when they occur.

There were an average of 694 full-time employee positions (FTEs) at Brim and its subsidiaries in 2023, and employee turnover was 12.6% for permanent employees. Employee turnover is somewhat higher than in 2022 due to one vessel being sold, and Kambur's employees was moved to Brim's groundfish department. The number of women working at the company increased by 2% between the years 2022 and 2023, and the ratio is now 31% women and 69% men.

The SMETA social audit was carried out in the fish processing plant in Norðurgarður in 2023. The audit relates to the arrangement of personnel matters, occupational health and safety, work environment and business ethics and the result was an excellent rating. Brim is a party to the certification FISH Standard for Crew that Ábyrgar fiskveiðar ses. manages on behalf of Fisheries Iceland (SFS) and the National Association of Small Boat Owners. The FISH Standard for Crew is based on the ILO 188, which is the only international convention that covers the working conditions of fishermen worldwide. The certification relates to the implementation of a social audit of working conditions on fishing vessels.

• SMETA
• FISH Standard for Crew

In 2023, a development project was launched in collaboration with Akademias on a new approach to Icelandic lessons. A group from Brim studied Icelandic for four months. The course was largely electronic and used the Bara tala app. The project exceeded expectations and the results of the participants were remarkable. There are plans for the preparation of further promotional material (video, interviews, etc.) and the aim is to present this to the employees of Brim and the Ministry of Education and Culture.

Brim's employees have access to Akademias' electronic educational library, which is used to meet compulsory education but also to strengthen employees in their current work and in development for future opportunities. Brim and Akademias have entered into a cooperation agreement to organise and design courses for education in the fishing industry.

A basic course for fish processing employees is held every other year. The aim of the course is to increase employees’ knowledge of fish processing, increase self-confidence and strengthen professional skills. Employees at sea attend courses at the Maritime Safety and Survival Training Centre, where rescue and safety equipment and the correct response to accidents are taught.

In 2023, all of Brim's employees received training on important aspects of workplace communication. The educational material focuses on improving communication and morale and examines how negative communication can affect workplace culture and promote discomfort. The terms bullying, sexual harassment, gender-based harassment and violence (EKKO) are reviewed, their definitions, manifestations and consequences are discussed, along with reactions if such situations arise in the workplace.

There was an increase to Brim’s groundfish rights in the quota year 2023/2024, or about 1% for cod, 62% for golden redfish and 23% for haddock. However, there was a decrease in halibut by 11%, 7% in pollock, and the catch quota for deep-sea redfish was cancelled. No catch quota was allocated based on catch quota in the Barents Sea defined in Russian jurisdiction for 2023.

Total groundfish fishing increased slightly between years and was 43,545 tonnes against 42,965 tonnes in 2022. Thereof, the total catch of trawlers was 41,779 tonnes, and was 41,225 tonnes in 2022. Landings per fishing day were 27.2 tonnes and were 29.5 tonnes in 2022. The longliner Kristján caught 1,767 tonnes this year, and 1,740 tonnes in 2022.

On 15 August, the freezer trawler Sólborg went on its first fishing tour for Brim, after significant improvements to the ship's processing deck. Örfirisey was in dry-dock for four weeks, during which routine maintenance tasks were carried out. All wetfish vessels stopped for 10–20 days due to various maintenance tasks.

Catch for processing in Norðurgarður was 21,734 tonnes of cod, haddock and redfish, which is a little more than the previous year, when 21,444 tonnes were processed. Considerably less pollock was processed this year compared to previous years, but more haddock.

Processing went well during the year. A new sorter for loose frozen products was put into use, which has proven to be successful. Experiments have also been underway with image analysis of fillets for quality inspection.

Kambur fish processing plant processed 3,741 tonnes of cod and haddock, compared to 5,185 tonnes the previous year.

All Brim’s operating units on land and at sea are subject to the official monitoring of the Icelandic Food and Veterinary Authority (Matvælastofnun, MAST), which makes sure that laws and regulations are complied with. MAST’s monitoring operations are based on inspections, which in some cases are carried out without any notice.

The company’s operations in the processing plants in Reykjavík and Vopnafjörður are certified in accordance with the IFS standard (International Feature Standard-Food). This is an internationally recognised standard, and one of the most used in the field of food safety, along with ISO and BRC. These main standards of food safety are co-ordinated under the banner of the Global Food Safety Initiative (GFSI). The activities of Vignir G. Jónsson and Brim’s fish processing plant in Norðurgarður are audited by the FDA (Food and Drug Administration in the USA). All operating units have the MSC (Marine Stewardship Council) traceability certification, and the company uses the IRF (Iceland Responsible Fisheries) certification for the company’s fishing.

The fishmeal and oil plant in Akranes and in Vopnafjörður are certified according to the FEMAS standard (Feed Materials Assurance Scheme). FEMAS is an international feed safety standard for products produced for animal feed, and the plants in Akranes and Vopnafjörður were both audited during the year.

The company’s certified quality systems intend, among other things, to assess customer satisfaction. The procedure provides for the assessment reaching customers representing at least 80% of the company’s turnover. This assessment is performed on a yearly basis. The result of the assessment for 2023 was that 30 customers were assessed in category A and 5 in category B. The situation is therefore considered to be very good and no action is needed.

There were no recalls during the year 2023, neither due to labelling nor for other reasons, and no serious deviations from the company’s rules regarding disclosure or labelling of the company’s products were documented.

Sales companies owned by Brim are mostly responsible for the sale of the company’s products, but in addition to them, Brim employs three sales managers. Icelandic Japan, Icelandic China and Icelandic Hong Kong, which are owned by Brim, handle sales of the company’s products in Asia. Iceland Pelagic, in which Brim owns 33%, handles sales and distribution to the Eastern European market, which consists mostly of frozen pelagic product. Brim’s sales managers sell fresh and frozen products in Western Europe and the US. Sales of fishmeal and fish oil products are entirely handled by the employees of Brim’s pelagic department.

Sales of pelagic products were successful during the year, and the markets for meal and fish oil were particularly good.  A slight decrease is expected in the first quarter, but the final prices have not been released yet.

There was a lot of pressure on prices for frozen sea products, which were historically high at the beginning of the year. Prices gave way until the end of the year, but the process had slowed down significantly and some species began to remain stable towards the end of the year. Demand remained good despite falling prices, high storage costs and financing expenses in our trading countries, and uncertainty among buyers in such a situation.

At the end of the year, things were looking up and there are hopes that the market will turn from a buyer's market to a seller's market when it gets further into 2024.

Market conditions for frozen products have changed so that the HORECA (Hotel – Restaurant – Catering) markets have been growing stronger after the desire to travel increased and visits to restaurants increased. However, the retail market has slowed down. The import of cod of Russian origin to the United States will be shut down at the end of May. Markets in Europe have been under pressure as a result, as it has been assumed that goods of Russian origin will arrive in Europe in greater numbers.  It is expected that this will lead to increased opportunities on the American market for Icelandic fish.

Sales of fresh produce was successful during the year, the prices were very strong at the beginning but gave way slightly as the year went on. Overall, prices were historically high.

A lot of food is processed in East Iceland. At Brim in Vopnafjörður, the production of frozen food products from pelagic fish has been over 20 thousand tonnes per year. The Matarauður Austurlands food festival is held annually and reflects the diversity of food production in the region. Brim participated in the festival in 2023 in collaboration with Menntaskólinn in Kópavogur, where students and teachers at the school used ingredients from Brim to prepare delicious dishes for festival goers.

In 2020, Brim and Akranes Municipality entered into an agreement to establish Breið Developmental, but the company's mission was to create new job opportunities based on development, creative industries and innovation, but also to develop an altered planning in Breiðin. This decision has proven successful. The first project was to convert Brim's old fishing processing plant into an innovation centre. Today, close to one hundred people work in the old fish processing plant in very diverse jobs. The agreement between Brim and Akranes Municipality has been extended until the end of 2026.

New business ventures have been created on the basis of ingenuity and innovation. The innovative companies Running Tide, Norður, Algó and Sedna Biopack have an office in the Breið Innovation Centre. There is also a biotechnology workshop, which is an open collaborative space in biomass research, and focuses on value creation from kelp, algae and stone crabs. Within the centre's walls you can also find the Fab Lab workshop, innovation in language technology and a number of other dynamic companies and organisations such as KPMG, Efla and the Association of Municipalities in West-Iceland.

Cooperation is emphasised in Breiðin’s activities, both within the innovation centre and with universities, educational institutes and companies, both domestically and abroad. Grants have been applied for various projects in the field of research and innovation, and a number of art exhibitions and design events have been held. The development of Breiðin highlights the importance of working with a holistic concept of sustainable development, which is based on infrastructure, innovation, technology and human resources. In accordance with that, the preparation of a new land-use plan for Breiðin is ahead, in line with the winning proposal of the concept competition held in the summer of 2022.

In the spring of 2023, Brim completed the purchase of the Fiskhúsið in the centre of Vopnafjörður. The house was built in 1886 as a warehouse by the Danish store Örum og Wulffe. The building was extensively altered in the first half of the 20th century, and a freezing plant and slaughterhouse was operated there from 1932. For years the car repair shop of Kaupfélag Vopnfirðinga was housed there, and a fish market for a while. In recent years it has been used as a storage facility. Brim purchased the building with community development as its goal, and today the building houses, amongst other things, the artist Sigrún Lára Shanko, Pílufélag Vopnafjarðar and the thrift market Hirðfíflin, which has supported the Sundabúð nursing home with generous gifts in the past years.

A Christmas party was held in Fiskhúsið, and part of the Vopnaskak town festival took place in the building in 2023. On Seaman's Day, Brim served soup in Fiskhúsið, where guests enjoyed the mild weather to the sound of accordion playing, before going to a dance in the community centre Mikligarður, which Brim organised.

Brim entered into a collaboration and sponsorship agreement with The Icelandic Literary Association and became a sponsor of the association from 2021 to 2025. Fishing is intertwined with Icelandic language and culture in a variety of ways. Brim launched a campaign on the company’s website on the Icelandic Language Day to remind people that seafaring and fishing are intertwined with Icelandic culture and language, as can be clearly seen in numerous proverbs and sayings that reference that.

• Íslenskan er hafsjór 2023
• Íslenskan er hafsjór 2022
• Íslenskan er hafsjór 2021

Brim's employees has made an effort to promote the company's activities and also the Icelandic fishing industry, past and present. In 2023, we welcomed a diverse group of domestic and foreign students, politicians and civil servants, representatives of non-governmental organisations, and others.  The main aspects of the company's activities, policy in environmental and social issues are covered, and in some cases tours are taken on board ships and in Brim's land processing plant. In 2023, we welcomed various partner companies of Brim, representatives of pension funds, the Association of Environmentalists, the Rotary Club of Reykjavík, Association of Women in the Fishing Industry, MBA students from Rotterdam, students from the Technical School, the University of Akureyri and the University of Iceland, elementary school students from Akranes and from Sjálandsskóli, a group of former ambassadors to Iceland and a group of companies from Greenland and the Faroe Islands who wanted to learn about Brim's priorities related to the implementation of the European Union's CSRD directive.