Kingfish Company reports strong growth for 2025
The Kingfish Company, the Netherlands based yellowtail farmer, saw revenue growth of 29% in 2025, with production by volume up by just 3%.
The company produces yellowtail kingfish at its land-based farm in Zeeland. Its latest business update, which includes preliminary unaudited full year 2025 results and the 2026 first quarter performance, reports higher sales volumes and continued demand in its core European markets.
The 2025 full year results showed revenues up 29% to €35.8m (£31m), compared to €27.7m (£24m) in 2024.
The volume produced increased to 2,576 tons, compared to 2,483 tons in 2024 . The operational EBIT showed a slightly higher loss of -€3.7m (-£3.2m) compared with -€3.4m (-£2.9m) in 2024.
The Kingfish Company said: “The second half of the year showed clear improvement compared to the first half and the prior-year period, although the overall pace of operational and financial improvement remained slower than anticipated.
“Q1 2026 showed strong biological performance, with higher production volumes, improved eFCR (economic feed conversion ratio) and continued progress in the farming performance.
Commercial performance also improved in the 2026 first quarter, supported by higher revenue per kilogram and a stronger focus on larger fresh fish.
Production volume in Q1 2026 was 773 tons, up 53% compared to Q1 2025 and the eFCR was 1.47 compared to Q1 2025:
The volume sold was 714 tons, up 24% compared to Q1 2025 while revenue per kg was €13.2/kg compared to €12.9/kg in Q1 2025.
The company said the commercial performance improved in the first quarter, with higher revenue per kilogram and continued strong demand in core European markets.
The results reflect improved production planning, stronger focus on larger size fresh fish, and continued progress in biological performance, the company said.
CEO Vincent Erenst said: “The Q1 2026 results demonstrate continued progress in our farming operations, with higher production volumes, improved eFCR and stronger overall biological performance.
“We remain focused on further increasing production efficiency, and progressing towards positive EBITDA and operating cash flow, while continuing to serve our core European markets.”
Since May 2026, the company has observed a higher rate of downgraded fish. While the underlying causes are still being assessed, the company said it has identified a number of contributing factors and has implemented remediation actions across both production and commercial activities. These include adjustments to production processes and commercial measures aimed at optimising sales channels and value recovery for affected volumes. The company said it is closely monitoring developments and expects these actions to support a gradual normalisation of downgrade rates.
The company’s update also reports that it has made good progress with its financial restructuring, which is now progressing towards completion. As announced on 12 May 2026, the Extraordinary General Meeting (EGM) has been called for 19 June 2026, where shareholders will be asked to approve the next phase of the refinancing process. Subject to these approvals, the private placement is expected to be completed shortly after the EGM. The repair offer is expected to commence in early July, subject to completion of the 2025 financial statements and the financial restructuring.
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