Profitability analysis model for fish farmers (Simplified version)

Profitability analysis model for fish farming is designed by Finnish Game and Fisheries Research Institute. Please contact Markus Kankainen at markus.kankainen@rktl.fi for further information.
The aim of this simplified budgeting tool is to estimate overall profitabity of a fish farm. Finnish Game and Fisheries Research Institute is not liable for the calculations made with the spreadsheet.
Copyright is owned by Finnish Game and Fisheries Research Institute and the software may not be delivered, used, published, translated without the permission of software administration (Markus Kankainen).

General guide: Fill the light blue cells into this table - The results are shown in green cells and diagrams. Fish farming Cost-Benefit factors
You may use assisting tables "Investment and fixed costs" and "Variable costs" to determine factors in more detail.
Additional info may be found in red triangels in yellow guide cells. See and try example below.
Sales
Profitability factor Mortality (example)
Details and added information Sales price Average market price /kg 4.50
Input fields 5%
Result field 5% Productivity factors

Fingerling purchasing Average size of fingerling gram 20 Production volume per year, kg 430,000
Factor based profit account /kg Growth Estimated average final weight 500 Growth, x times the initial weight 25
/kg Production cost and profit Mortality Total mortality % 10% Number of fingerlings 955,556
Revenue 1,741,500 4.50 5 Harvest yield Gutting yield % 90% Sales volume, kg 387,000
Production cost Profit/lost Feed efficiency Feed conversion ratio (FCR) 0.90 Feed usage, kg 390,440
4.5
Variable costs Feed cost 1.4124444444 Profit/ lost
Feed cost 546,616 1.41 Fingerling
4 cos 0.7407407407 Company fixed costs
Fingerling cost 286,667 0.74 Personel cost 0.4650697674 Other cost
3.5
Other variable costs 278,640 0.72 Investment co 0.9438866572 Personnel costs Number of personnel 3 Average monthly salary 3333
Fixed costs Other3 cost 0.900878553 Investment cost Salary overhead rate 30%
Fixed personnel 179,982 0.47 Profit/
2.5 lost 0.04 Investment Investment total value 2,597,000 Investment depreciation years 8.8
Investment depreciation 295,114 0.76 Capital costs Capital interest % 5.00% Tax rate % 28.00%
2 Personel cost
Other fixed costs 70,000 0.18 Other fixed costs Other fixed cost total /year 70,000
Financial costs 1.5 4.4630201628
Fingerling cost
Capital costs 70,170 0.18 Volume depended variable costs
1
Total costs 1,727,189 4.46
Feed cost
Taxes 4,007 0.01 0.5 Feed cost 1.40 /kg feed
0 Fingerling cost 15.00 /kg fingerling or roe 20 Gram fingerling
Profit 10,304 0.03 Production cost Profit/lost Other variable costs 0.72 /kg

Part-financed by the European Union (European Regional Development Fund and European Neighbourhood and Partnership Instrument)
Company fixed costs

Investment costs Investment total value 3,710,000 Investment weighted average depreciation ye 8.8
Production estates Investment initial value 200,000 Deprecation years 10
Production constructions Investment initial value 900,000 Deprecation years 10
Farming equipment Investment initial value 400,000 Deprecation years 5
Other production equipment Investment initial value 200,000 Deprecation years 5
Transport Investment initial value 100,000 Deprecation years 5
Monitoring and Management Investment initial value 50,000 Deprecation years 3
Other Furniture Investment initial value 10,000 Deprecation years 5
Other Isolated production building Investment initial value 1,800,000 Deprecation years 10
Other Consultancy and supervision Investment initial value 50,000 Deprecation years 5

Investment subsidy Investment value with subsidy 2,597,000

% of the investment total value 30%

Fixed personel costs Person-years total 3 Average month person costs 3333
Number of staff Person-years 2 Average month salary staff 3000
Number of manager personnel Person-years 1 Average month salary managers 4000
Salary overhead rate Share of the salary 30% Annual person costs 156,000

Other fixed costs Annual value estimate 70,000

Rents Annual value 5,000
Maintenance Annual value 20,000
Production lisences and monitoring Annual value 5,000
Book keeping and financial administration Annual value 5,000
Marketing Annual value 5,000
Fixed electricity Annual value 10,000
Travel Annual value 5,000
Research and development expenses Annual value 5,000
Insurance Annual value 5,000
Other Logistic (road) fee Annual value 5,000
Other Annual value
Other Annual value
Volume depended variable costs

Volume, kg gutted fish 387,000

Number of fish in beginning 955,556

Variable cost factors Targeted by: Annual total variable cost 1,112,310
Annual total variable cost /kg 2.87
Feed cost average /kg feed 1.4 546,616 1.41

Fingerling cost 20 average /kg 15 286,667 0.74

Roe cost average /kg roe 0.00

Other annual variable cost 279,027

Other variable cost /kg 0.72
Volume depended investment /gutted fish 0 0

Personnel /gutted fish 0.1 38,700

Fish insurance /gutted fish 0.2 77,400
Vaccination /fish 0 0
Medicines /gutted fish 0.02 7,740
Fuel /gutted fish 0.02 7,740
Electricity /gutted fish 0.2 77,400
Oxygen /gutted fish 0.01 3,870
Transport /gutted fish 0.05 19,350
Washing water /gutted fish 0.001 387
Waste water /gutted fish 0.01 3,870
Ice /gutted fish 0.01 3,870
Sludge treatment chemicals 0.05 19,350
pH-control chemicals 0.05 19,350
Other /gutted fish 0 0
Other /gutted fish 0 0
Other /piece 0 0
Profit account Euro %

Revenue 1,741,500 100%

Variable costs
Feed cost 546,616 31.6 %
Fingerling cost 286,667 16.6 %
Other variable costs 278,640 16.1 %
Fixed costs
Fixed personnel 179,982 10.4 %
Investment depreciation 295,114 17.1 %
Other fixed costs 70,000 4.1 %
Financial costs
Capital costs 70,170 4.1 %
Total costs 1,727,189 100.0 %
Taxes 4,007

Profit 10,304 0.59%