New Zealand King Salmon returned to profit in the first half of FY26 as improved summer fish performance lifted biomass, reduced mortality and supported upgraded earnings guidance.
The company reported net profit after tax of NZ$13.8 million (€6.9 million) for the six months ended 31 March, compared with a NZ$20.8 million (€10.4 million) loss in the prior corresponding period. Revenue rose 6% to NZ$100 million (€50 million).
Pro-forma EBITDA increased to NZ$17.2 million (€8.6 million) from NZ$5.7 million (€2.9 million), supported by improved fish quality, lower mortality and stronger processing efficiency.
Chief executive Carl Carrington said the improved fish performance reflected a new summer feed diet, increased stock grading and tighter operational execution.
The company upgraded FY26 EBITDA guidance to NZ$23 million-NZ$29 million (€11.5 million-€14.5 million) from NZ$19 million-NZ$27 million previously, citing continued positive fish performance and reduced uncertainty around Middle East-related freight disruption.
FY28 harvest guidance was also raised to 8,500-9,100 tonnes from 8,200-8,800 tonnes previously.
New Zealand King Salmon said the arrival of the Ronja King wellboat and installation of Blue Endeavour pilot pens would support volume growth from FY27 onward.
