The Kingfish Company (KING) H2 2025 earnings summary

Executive summary

• Celebrated its tenth anniversary, marking a decade of growth and innovation in sustainable land-based Yellowtail Kingfish aquaculture.

• Achieved a 29% year-over-year revenue increase to €35.8 million, driven by strong performance in the large fresh fish segment and expansion in European markets.

• Completed a major financial restructuring in June 2026, strengthening the balance sheet and providing additional liquidity for future growth.

• Continued focus on operational efficiency, premium product positioning, and disciplined growth.

Financial highlights

• Revenue rose 29% year-over-year to €35.8 million; sales volume reached 2,649 tonnes WFE.

• Gross margin stable at €5.1 million; gross profit per kg declined to €1.9 from €2.6 in 2024.

• Operational EBITDA was negative €3.7 million, broadly stable from negative €3.4 million in 2024.

• Net loss for the year was €35.9 million, similar to the prior year.

• Cash used in operations improved to €3.1 million from €9.4 million in 2024.

• Capital expenditure was €2.3 million, focused on optimisation and efficiency.

• Cash position at year-end: €5.9 million.

Outlook and guidance

• Strategic focus remains on ramping up to full capacity, achieving positive EBITDA and operating cash flow.

• Plans to leverage RAS advantages, drive product development, and expand in Europe.

• Investment in 2026 will prioritize operational reliability, efficiency, and compliance.

• New sustainability targets set for 2030: further 25% reductions in carbon footprint and marine resource dependency.