Photo: The Kingfish Company.
Netherlands land-based yellowtail kingfish farmer The Kingfish Company has released its trading update for the first quarter of 2025, reporting significant growth in sales volume and revenue while continuing to focus on operational streamlining and future expansion.
In Q1 2025, the company sold 578 tons of fish, marking a 41% increase compared to 410 tons in the same period last year. Total revenue rose by 27% year-on-year to €7.5 million, up from €5.9 million in Q1 2024. Revenue per kilogram, however, declined 10% to €12.9/kg, which the company attributed to tactical pricing strategies aimed at reducing standing biomass.
The Kingfish Company said it has successfully completed a "biomass reduction plan" during the quarter, targeting smaller fish through a mix of fresh and frozen product sales. By the end of March, standing biomass had decreased to 922 tons, down from 1,118 tons at the end of December 2024.
"We remain focused on accelerating our growth trajectory and deepening market penetration, with the goal of achieving full utilization of our farm capacity and reaching break-even profitability and positive operational cash flow," the company stated in a press release.
Regarding international markets, Kingfish noted that the effects of the recently-introduced tariffs by the United States are still being assessed, but that this "remains difficult to fully quantify at this stage".
"We continue to monitor the situation closely and will respond pragmatically to any further developments related to tariffs or foreign exchange fluctuations and their implications on our US sales," the company said.
The company also provided an update on its U.S.-based project, Kingfish Maine, which has now secured all required municipal, state, and federal permits following a successful resolution of the final state permit appeal.
"With legal uncertainties now resolved, Kingfish is updating its project plan to reflect the latest developments in design and construction as well as the broader business environment," The Kingfish Company stated.
"In parallel, we are exploring various alternatives, including the possibility of bringing in strategic partners to help accelerate the project’s execution," it added.
