NZ King Salmon warns of lower FY26 harvest volumes

New Zealand King Salmon Investments (NZX:NZK) has alerted investors to expected lower harvest volumes for FY26, stemming from higher than anticipated sea farm mortality and slower growth rates. While increased mortality is typical in the summer months, the current levels are projected to impact FY26 harvest volumes, although FY25 guidance remains unchanged. The company reaffirmed its FY25 pro-forma operating EBITDA guidance of $26 million to $30 million, as the elevated mortality occurred after January 31, 2025. Initial estimates for FY26 harvests are now projected to be between 5,900 and 6,300 MT G&G, with a pro-forma operating EBITDA range likely to be $15 million to $24 million. The company plans to release further FY26 guidance alongside its year-end results on March 27, 2025. NZK attributes the fish mortality to multiple factors, including prolonged elevated water temperatures, increased stress, and reduced resistance to pathogens. The company is investing in strategies to mitigate these risks.