The Kingfish Company sees continued growth, supported by strong demand for fresh
large fish
Q2 2026 Highlights
o Revenue of EUR10.4 million, an increase of 15% like-for-like YoY
o Volume sold of 755 metric tonnes, up 9% like-for-like YoY
o Revenue per kg increased by EUR0.6 YoY (+4%)
o Production of 691 metric tonnes in the quarter
Kats, Netherlands - July 30, 2026 - The Kingfish Company N.V. (the "Company";
"Kingfish"; OSE: KING), a pioneer and leader in sustainable land-based
production of yellowtail kingfish, publishes its Q2 2026 trading update and an
update on financing.
Commercial performance
Kingfish continued to deliver year-on-year growth in Q2 2026. Revenue increased
by 9% to EUR10.4 million, while sales volumes increased by 5% to 755 metric
tonnes. On a like-for-like basis, excluding fresh sales in the United States,
which were discontinued in October 2025, revenue increased by 15% and sales
volumes grew by 9%.
Demand from the foodservice market remained strong, particularly for fresh large
fish. Customer engagement continues to strengthen with chef partnerships,
expanded distributor agreements, and resilient demand in priority markets. Fresh
large fish volumes increased by 28% year-on-year on a like-for-like basis during
the quarter. Pricing for superior-quality fresh large fish also remained robust,
increasing by 5% year-on-year on a like-for-like basis.
Average revenue per kilogram increased by EUR0.6 to EUR13.8, compared with Q2 2025.
The improvement in underlying pricing was partly offset by a lower proportion of
superior fish, impacting the price mix during the quarter.
Frozen sales revenue decreased by 33% year-on-year, reflecting the Company's
continued focus on developing the premium fresh and frozen segments and
prioritising value over volume.
Production update
Production amounted to 691 metric tonnes in Q2 2026, broadly stable compared
with 707 metric tonnes in the same quarter last year. Standing biomass reached
950 metric tonnes at quarter-end, in line with the Company's targeted nominal
level.
From mid-May, the Company experienced a temporary decline in the proportion of
superior-grade fish, from above 90% to approximately 75%. The lower share of
superior-grade fish primarily affected large fish and resulted in an adverse
product-mix impact during the quarter. The Company has undertaken a detailed
review to identify the causes and has implemented corrective measures, including
reversing certain changes to farming practices introduced over recent quarters.
The first benefits of these measures are expected to become visible during the
coming quarter. However, due to the biological production cycle and the fish
currently in the biomass, the product mix is expected to remain affected for the
next 6 to 12 months.
The Company remains focused on strengthening operational consistency while
building on its market growth momentum.
For media and investor inquiries, please contact
press@the-kingfish-company.com
ir@the-kingfish-company.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by CFO Jean-Charles Valette at the date and time set
out herein, on behalf of the Company.
About The Kingfish Company
The Kingfish Company is a pioneer and leader in sustainable land-based
aquaculture, specialising in the production of high-quality yellowtail kingfish.
The Company operates its flagship facility, Kingfish Zeeland, in the
Netherlands, and holds all necessary permits to expand its operations in the
United States.
Production is based on advanced recirculating aquaculture systems (RAS) that
ensure biosecurity and environmental control. Animal welfare is paramount, and
the fish are grown without the use of antibiotics or vaccines. All operations
run on 100% renewable electricity, and use seawater to conserve freshwater
resources.
The Company's main product, the Yellowtail Kingfish (also known as ricciola,
hiramasa, or greater amberjack), is a versatile premium species highly valued in
Italian and Asian-fusion cuisines. Its products are certified as sustainable and
environmentally responsible by the Aquaculture Stewardship Council (ASC), Best
Aquaculture Practices (BAP), GLOBALG.A.P., and Friend of the Sea.
This press release also includes certain non-IFRS financial measures, which are
not recognised performance metrics under IFRS.
All figures in the press release are unaudited.
Forward Looking Statements
All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict and are based upon
assumptions as to future events that may not prove accurate. Actual results may
differ materially from those expected or projected in the forward-looking
statements. The Company undertakes no responsibility or obligation to update or
alter forward-looking statements for any reason.
-looking\
statements. The Company undertakes no responsibility or obligation to update or\
alter forward-looking statements for any reason.\