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New Zealand King Salmon Investments Limited (NZX: NZK) Market Update

Wednesday 8th December 2021

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Further to context provided on 30 September 2021 as part of our FY22 half year results announcement (1H22: Feb to July 21), New Zealand King Salmon is now able to provide an update on full year earnings guidance.

The FY22 revised earnings forecast of proforma EBITDA is in the range of $10.5m to $12.5m, an increase from the previous guidance of $8.0m to $10.0m.

Although trading conditions remain challenging with elevated freight costs, inflationary pressure on raw materials and Covid restrictions impacting food services, we have seen a sustained gain in our financial performance. As previously noted, we continue to see an improvement in fish size, due to the change to our farming model.

The Consent hearing for our open ocean farming application, named “Blue Endeavour”, is nearing completion with the last day targeted for 21st December.

Please see the link below for details

NZK Market Update

Source: New Zealand King Salmon Investments Limited

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