The Kingfish Company crept closer to breaking even in Q3 2023

The Kingfish Company maintained a strong biological performance in the third quarter of 2023 and, through increased productivity, achieved a record-best biomass growth of 637 metric tons (MT), up from 374 MT in the corresponding period of last year.

The company operates a land-based yellowtail kingfish-farming firm in Kats, the Netherlands, and is advancing work on another farm in the U.S. state of Maine.

“We are very happy with the growth of the biomass production in the quarter,” The Kingfish Company CEO Vincent Erenst said. “This is the result of an excellent biological performance of the fish in our new Phase 2 and our old Phase 1 [production systems].”

The firm achieved an H1 harvest of 932 MT, and sold 375 MT of fish in Q3, taking its total volume for the first nine months of 2023 to 1,114 MT – 24 MT more than a year previously.

Thanks to “a more favorable size mix,” and a shift toward larger-sized fish, its revenue for Q3 2023 increased 8.5 percent year over year to EUR 5.7 million (USD 6.1 million), while its revenue earned per kilogram increased 11 percent, or EUR 1.50 (USD 1.60), to EUR 15.30 (USD 16.29).

“Some markets like Italy prefer small fish, while others like larger-sized fish,” Erenst said.

The Kingfish Company’s operational earnings before interest, taxes, depreciation, and amortization (EBITDA) crept closer to the …

Photo courtesy of The Kingfish Company