Kingfish company reports record sales, but net loss widens in H1

The Kingfish Company announced its H1 2025 financial statements, reporting a new sales record with volumes reaching 1,301 tons, a 41% increase year-on-year. This led to a 31% increase in revenue, amounting to €17.0m compared to €13.049m in H1 2024. However, average revenue per kilogram declined to €13.1 from €14.3 due to targeted promotional pricing and increased frozen product sales.

Operational EBITDA came in at €-2.0 per kilogram, versus €-1.1 per kilogram in H1 2024, attributed to lower gross margin and temporarily elevated farming costs. The company reported a net loss after tax of €-18.5m for H1 2025, an increase from €-13.3m in the same period last year, primarily due to higher financing costs.

The company maintains €15.3m in total liquidity as of June 30, 2025, and has paused fresh yellowtail kingfish commercial efforts in the US due to increased import tariffs and unfavorable exchange rates. Despite this, the company remains optimistic about accelerating revenue growth and anticipates achieving positive operational EBITDA and cash flow in 2026.