Sharechat Logo

New Zealand King Salmon - Trading Update

Monday 17th March 2025

Text too small?

The Board of New Zealand King Salmon Investments Limited (NZX/ASX: NZK) advise that we are currently experiencing higher than expected sea farm mortality, coupled with lower than anticipated growth rates. Although the business does experience higher mortality in the summer months, it is at a level which will impact harvest volumes for FY26. The Board want to emphasise that mortality levels are significantly lower than the mortality which occurred at the end of FY22 and the beginning of FY23.

 

This situation will not impact the FY25 Guidance of $26m to $30m on a pro-forma operating EBITDA basis (as the elevated mortality has occurred post 31 January 2025) but will impact our FY26 harvest and profitability.

 

Although the Board has not provided guidance for FY26, initial estimates for the FY26 harvest are now between 5,900 & 6,300 MT G&G with a FY26 pro-forma operating EBITDA range likely to be $15m - $24m. The Board will provide further FY26 guidance with the release of the year-end results scheduled for 27 March 2025.

 

The Board acknowledges the cause of fish mortality is multi-factorial with the dominant correlation currently occurring with prolonged elevated water temperature which increases stress and reduces the salmon’s resistance to bacteria and other pathogens. The recent change to the farming model mitigates some of the summer mortality risk by avoiding holding fish at our warmer sites over summer. The business continues to invest in improved fish health outcomes to further mitigate the risk, such as thermotolerance, vaccine development and diets.

 

Authorised by:

Board of Directors of New Zealand King Salmon Investments Limited

For investor or analyst queries, please contact:

Carl Carrington, CEO, New Zealand King Salmon Investments Ltd, carl.carrington@kingsalmon.co.nz

Ben Rodgers, CFO and Company Secretary, New Zealand King Salmon Investments Ltd, ben.rodgers@kingsalmon.co.nz

 

 



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report
June 26th Morning Report
Devon Funds Morning Note - 25 June 2025
June 25th Morning Report
NWF - NZ Windfarms shareholders approve Meridian acquisition
GMT - GMT and GMT Bond Issuer Limited 2025 Annual Report