2019 Annual Report Financial Overview
Monday, May 18, 2020

Sealaska published the 2019 annual report on May 1, 2020. Shareholders can view it at MySealaska.com. We are sharing excerpts from the document.


Sealaska achieved another year of record financial performance in 2019 with $77.8 million in net income. Every operating business delivered significant year-over-year growth. Government and Commercial Services tripled operating EBITDA following strong performance at Gregg Drilling. We completed the integration of Orca Bay and Odyssey Foods and are continuing to see growth in operating EBITDA post-merger. Natural Resources’ operating EBITDA increased as well following the financial performance of timber and the second year of our carbon sequestration project.  Our businesses are building a solid base for Sealaska’s future.

Our profits facilitate our investment in critical community and shareholder programs, while protecting and preserving our environment for future generations.


Growth in operating EBITDA (earnings before interest, tax, depreciation and amortization) reflects the financial results of our operating decisions and is the primary measure we use to assess the overall performance of Sealaska’s operations.

We continue to focus on building profitable businesses that align with our vision — to protect and preserve our environment for the health of our planet and our people. Sealaska has the unique privilege of investing our profits in critical community needs and programs that benefit shareholders today and into the future.

Growth in operating EBITDA shows that our investments are working and the efforts our employees are making across Sealaska are adding value.


Net income encompasses the results of the entire corporation, including operations, investments and ANCSA Section 7(i), along with the effect of interest, taxes, depreciation and amortization. In 2019, Sealaska posted the greatest net income the corporation has ever achieved. Increasing net income leads to increasing shareholder distributions. Under the 5-year average of net income dividend formula, shareholder dividends have more than doubled from two years ago and reached the highest level in over 20 years.


Operations and investments are the primary sources of Sealaska’s gross revenue. Our 2019 revenue — $700M — is the largest in Sealaska’s history. Since 2015, revenue has grown six-fold, reflecting dramatic growth in our operations over a relatively short time. While the size of our revenue isn’t as important as the size of our profits, the magnitude of the increase highlights the growing scale of our businesses, and the success of our three operating platforms in food, land and water. We will continue to invest in and grow our operations, so they can continue to be the main contributors to increases in all three financial measures expressed in these tables.


Financial statements help management make decisions that will affect the company in the future and provide shareholders with insight into how the company is doing financially. Examining trends – changes in revenue, costs, profitability – help us understand the company’s trajectory and make strategic decisions that guide future direction.

Financial statements also provide shareholders, banks, customers, suppliers and other interested parties with information about the company’s performance.

Sealaska relies on an external auditor to ensure that our financial statements are accurate – auditors review our accounting data objectively, document any significant issues they may find, issue an opinion on whether our financial statements fairly present the company’s financial condition, and report their findings directly to the board.

Accounting rules define what each financial statement includes so that they can easily be compared with other similar companies. There are five components to a complete set of audited financial statements.

Please open and review Sealaska’s Reading Financials document.


Sealaska achieved another year of record financial performance with $77.8M in net income and $700M in total revenues. Sealaska’s 2019 revenue of $700M is the largest in Sealaska’s history. Increasing net income leads to increasing shareholder distributions. Operations and investments are the primary sources of Sealaska’s gross revenue. This is the greatest net income the corporation has ever achieved. Every operating business delivered significant year-over-year growth. Sealaska businesses are building a solid base for the future. This allows for investments in critical community and shareholder programs. Flip through Sealaska’s story.

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