After several years with financial challenges, it seems that the autonomously owned sealskin company Great Greenland in Qaqortoq has turned the tide.
This is shown in the annual accounts for 2025, which were published at the company’s general meeting on 5 June.
After several years with financial challenges, it seems that the autonomously owned sealskin company Great Greenland in Qaqortoq has turned the tide.
This is shown in the annual accounts for 2025, which were published at the company’s general meeting on 5 June.
The turnover has increased by almost one million kroner from 14,390,000 kroner to 15,041,000 kroner. This triggers a profit in 2025 of DKK 1,677,000, which is significantly better than budgeted and significantly better than the deficit in 2024 of DKK 1,118,000.
Less procurement
The good result has been achieved, even though the procurement of skins in 2025 has been lower than in 2024. In 2025, 26,672 sealskins were procured against 34,976 sealskins in 2024. For comparison, the procurement in 2023 amounted to 26,076 sealskins, which means that the level of procurement in 2025 overall corresponds to the level in 2023.
There is a good explanation for that, says Great Greenland’s director Aviaja Holm Jensen to Sermitsiaq.
– The higher turnover is primarily related to the sale of finished goods. There is a natural shift in our company, where some of the purchasing of skins one year only affects the production and turnover the following year, explains Aviaja Holm Jensen.
– Skins are procured continuously along the coast, but the transport to Qaqortoq depends on the shipping routes. When the last ship has arrived at the northernmost and easternmost cities, a period passes before new skins can access production from East and North Greenland. That is why we also have departments in Tasiilaq and Upernavik, where skins are collected until they can be sent on with the first ship.
Better quality
Aviaja Holm Jensen also notes that the quality of the purchased skins will improve in the future.
– Over the course of the year, work has been focused on quality improvements, among other things through conversion from the use of brine to freezing at selected procurement locations. This reorganization has had a positive effect on the quality of the hides at the selected procurement locations, the director states.
In 2025, 17,712 Greenland seal skins and 8,960 netside skins were procured, corresponding to a total of 26,672 seal skins.
In addition to processing and selling hides, Great Greenland also runs a visitor center in Qaqortoq.
– The visitor center in Qaqortoq has had an active tourist season with great interest from cruise guests, students, journalists and delegations. However, the number of paid tours has been decreasing compared to the previous year, which is primarily due to internal organizational changes as well as significant changes in access to the company as a result of the permanent closure of the previous access road for tourists, the company states in the management’s annual report.
The management estimates that accessibility has had a direct negative effect on revenue, which is supported by specific revenue figures from cruise visits during the summer period.
At the same time, it is emphasized that the cooperation with local tourist operators works satisfactorily and forms an important part of the communication.
The auditors nod yes
The 2025 accounts have been given the blue stamp by the audit firm BDO and stand in stark contrast to 2024, where there was not only a deficit, but where the auditors cast doubt on the company’s continued existence with a remark that the 2024 accounts were drawn up under the assumption of what in auditor parlance is called “Going Concern”.
It is a warning to a company’s creditors, which means that the values that are in the company can be lost if operations stop. For example, buildings and machinery are unlikely to be sold at book value if the company closes.
New management
The poor result for 2024, to say the least, led to replacements in the management corridor. In 2025, the company’s long-term director, Preben Møller, was replaced by the current director, Aviaja Holm Jensen.
Great Greenland has reversed the development, among other things, through new IT systems, although it has not been without challenges and extra costs.
– The implementation of a new financial system, which we went live with in June 2025, presented us with major challenges. It affected certain administrative processes, such as payments to catchers and traders, says Aviaja Holm Jensen.
The director expects that the company is now on the right track.
– 2026 is expected to be a year marked by consolidation and organizational strengthening, while maintaining a high level of activity. The management expects continued growth in sales, an expansion of the market base and a strengthening of Great Greenland’s brand as a leading supplier of sealskin products, the management report states.
For the financial year 2026, a budget has been prepared that shows an expected turnover of DKK 14,873,000 and a budgeted profit of DKK 44,000. Great Greenland today has an equity capital of DKK 24 million.
