-
- -Driven by continued strong demand for sustainably grown Yellowtail Kingfish in Europe and the US, The Kingfish Company [Euronext: KING] more than doubled sales from €3.8 million in H1 ’21 to €8.4 million in H1 ’22
-
- In the first half of 2022, the sales price of both small and large fish increased by 14% compared with the first half of 2021
-
- The Kingfish Company produced a record of 742 tons net growth of high-value Yellowtail Kingfish in H1 ’22, resulting in strong productivity index performance of 0.75 (net biomass growth per cubic meter capacity per day)
-
- In H1 2022 The Kingfish Company is for the first time cash positive for the Netherlands operations.
“We are pleased to report excellent operational results during the first half of 2022, and revenues more than doubled from EUR 3.8 million in the first half of 2021 to EUR 8.4 million in the first half of 2022. The sales price for both small and large fish in the first half of 2022 increased by 14% compared with the same period last year. Fresh fish demand continues to outstrip supply despite increased harvest levels and higher sales prices”, said Ohad Maiman, CEO of The Kingfish Company.
In the first half of 2022, The Kingfish Company achieved a record production of 742 tons net growth. This has resulted in sector leading productivity of 0.75 kg net growth per installed cubic meter per day for the first half of 2022, compared with 0.66 kg net growth in the first half of 2021. The Kingfish Company is pleased with over four years of continuous operations, and over 30 production cycles of fish produced from full cycle hatchery to harvest, with zero mass mortality events to date.
The Kingfish Company posted EUR -1.5m of operating cash flow in the first half of 2022, a significant improvement compared to EUR -3.0m in the first half of 2021. The net loss after tax in the first half of 2022 was EUR -2.8 million, which includes indirect costs and reflects development costs related to the scale-up phase of the business, and planned expansion of the company’s production capacity in the Netherlands and the US.
The company spent EUR 32.4 million on capital expenditure during the first half of 2022. The Kingfish Company continues the expansion of its facilities in Europe with system installation and construction entering its final stage, and in the US, all state and federal permits have been secured for the planned new facility in Maine. The Kingfish Company secured a EUR 75 million ESG linked bilateral loan with PCP in the first half of 2022.
While having been able to avoid significant cost overruns in the first 1.5 years of construction, given current supply chain issues and inflation, The Kingfish Company anticipates significant extra cost and potential delays for the remaining work to completion. Strict cost control measures are in place to limit the impact.
Pour plus d'informations
Please see the attached the Investor Day and H1 2022 presentation. The Kingfish Company will present the strategic update and results presentation to investors, analysts, and media on Friday September 2nd, 2022 at 13:00 CET. The presentation will be followed by a Q&A session. Both will be hosted by the company’s CEO Ohad Maiman and CTO Kees Kloet.
Détails de l'appel
Pour les demandes des médias et des investisseurs, veuillez contacternpress@the-kingfish-company.com
Flux de nouvelles de l'entreprisenhttps://www.the-kingfish-company.com/news
n À propos de The Kingfish Company
The Kingfish Company est un pionnier et un leader de l'aquaculture terrestre durable. La capacité de production annuelle actuelle de son usine Kingfish Zeeland, aux Pays-Bas, est de 1 500 tonnes de limande à queue jaune de haute qualité et de grande valeur.
L'expansion est en cours et la capacité aux Pays-Bas atteindra 3 500 tonnes au second semestre 2022. Aux États-Unis, l'obtention du permis pour l'installation d'une capacité de 8 500 tonnes progresse comme prévu.n
La production est basée sur des systèmes avancés d'aquaculture en recirculation (RAS), qui protègent la biodiversité et garantissent la biosécurité. Le bien-être des animaux est primordial et les poissons sont élevés sans antibiotiques ni vaccins. Les opérations fonctionnent avec 100 % d'énergie renouvelable, provenant du vent, du soleil et du biogaz. Les installations de l'entreprise fonctionnent à l'eau de mer, ce qui évite de gaspiller de l'eau douce précieuse.
Le principal produit de The Kingfish Company, le thazard à queue jaune (également connu sous le nom de Ricciola/Hiramasa/Greater Amberjack), est une espèce de poisson de première qualité très polyvalente, bien connue dans les cuisines fusion italienne et asiatique.
Ses produits sont certifiés et approuvés comme durables et respectueux de l'environnement par Aquaculture Stewardship Council (ASC), Best Aquaculture Practices (BAP) et British Retail Consortium (BRC). Il a remporté le prix d'excellence des produits de la mer 2019 et est recommandé comme choix vert par la Good Fish Foundation.