The Kingfish Company's second quarter 2025 sales volume reached 723 tons.
Photo: The Kingfish Company.
The upward streak continues for The Kingfish Company. The Netherlands land-based yellowtail kingfish farmer presented its Q2 2025 trading update, in which, among other good figures, highlighted what the company called "a strong commercial performance," with sales volume up 41% year-on-year, representing a record quarter-on-quarter growth.
In total, sales volume for Q2 2025 reached 723 tons, this is 211 tons more than in the same quarter last year, which, the company said, reflects continued growth in market demand. "This reflects sustained demand for fresh yellowtail, particularly in the company's key European markets," Kingfish stated in its release.
The land-based producer added that, while in Europe, demand for Kingfish's fresh product continues to expand, reinforcing its market leadership, in the United States, growth has leveled off. Thus, although revenue in this market increased 36% quarter-over-quarter, a weaker U.S. dollar and the introduction of new import tariffs have affected prices and, therefore, consumer affordability.
Kingfish also said it expects that ongoing trade uncertainty could continue to limit the potential of the U.S. market. However, in this Q2 2025, the company also had good news regarding its presence in the United States, as, in April, Kingfish Maine cleared a significant legal hurdle following a decision by Maine's Supreme Judicial Court, which upheld state permits for the company's proposed yellowtail fish farm in Jonesport.
As a result of the growth in sales volumes, The Kingfish Company's revenue in the second quarter of the year also increased, it did by 31% year-on-year. Specifically, total revenue reached EUR 9.6 million, which is EUR 2.3 million more than the EUR 7.3 million in the same period of 2024.
However, impacted by product mix and pricing strategy, revenue per kilo declined from EUR 14.2 in Q2 2024 to EUR 13.2 in Q2 2025. The company explained the decrease was mainly due to a higher proportion of frozen product sales, following a build-up of inventory in previous quarters to align farm biomass with sales development.
Likewise, promotional pricing efforts aimed at expanding market reach and accelerating inventory turnover, a strategy that Kingfish began to implement last year, also played a role. The company's additional investment in commercial activities began to pay off as early as a year ago, in Q2 2024, generating growth in the yellowtail kingfish market in both the professional and retail sectors.
According to the trading update, there was also an increase at the operating level. Production volume increased by 40% compared to Q1 2025, when 505 tons were harvested, compared to 707 tons harvested in this second quarter. The company explained that during Q2 2025, biomass levels have normalized, returning to optimal levels following the biomass reduction implemented earlier this year at the Kats farm.
In addition, The Kingfish Company said it has also resumed optimal feeding levels for its farmed yellowtail. As explained in its fourth quarter and full year 2024 results presentation, this 2025, the land-based fish farm is focused on improving feed efficiency, further optimizing feed formulas, and exceeding its 25×25 targets.
Following the good results pointed to for this second quarter of 2025, Kingfish stated that "with well-aligned biomass growth, harvest, and sales, the company is now operating under improved biological and production conditions."