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Gear maker Vónin remains profitable as ever

2020 was a pretty good year for fishing gear major Vónin, with the company making 53.4 million DKK (7.2M EUR) in profits, beating the previous year’s 52.9 million.

“The sales amounted to a total of 511.2 million DKK [68.7M EUR] in 2020, compared to 522.4 million [70.3M EUR]  in 2019,” Hjalmar H. Petersen, CEO noted. “But even though sales were reduced due to Covid-19, the Vónin group managed to adjust its operations, so the profit would still be greater than the year before.”

Mr. Petersen added: “About two thirds of the total sales were to customers outside the Faroe Islands. More than a third of the sales were for the sea farming industry, where we’ve experienced an especially large growth on the Scottish market”.

Today Vónin has offices and net lofts across the North Atlantic, with about 450 employees in seven countries including the Faroe Islands, Norway, Lithuania, Russia, Iceland, Greenland, and Canada. 

In the Faroe Islands, Vónin has three offices and 100 employees spread over three locations: Fuglafjørður, Norðskála and Tórshavn.

“Our entity in Greenland, Qualat Vónin, is well placed in four important ports, and thus Vónin has become the biggest supplier on the market for the bottom trawl industry and the prawn trawl industry,” Mr. Petersen said.

The acquisition of Danish engineering and design company Volu Ventis is seen as one of last year’s highlights for Vónin, the CEO said.

“To break new ground on the market, Vónin has chosen to strengthen its foundation for developments of new fishing gear. Vónin has acquired the Danish company Volu Ventis ApS, which has a lot of experience in aero- and hydrodynamics.”


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