New Zealand King Salmon Investments Ltd (ASX:NZK) Announces FY25 Results

Financial Performance

New Zealand King Salmon Investments Ltd reported a net profit of $13.4 million for FY25, down from $28.5 million in FY24. Pro-forma EBITDA rose to $29.7 million compared to $24.5 million the previous year. Revenues increased by 13%, from $187.1 million in FY24 to $210.9 million in FY25.

Future Outlook

The company entered a significant multi-year government partnership under the Ministry for Primary Industries Sustainable Food and Fibres Futures fund, supporting future growth investments. However, it anticipates elevated mortality rates in FY26, following two summers of low mortality, which will reduce both harvest and earnings. The Board provided Pro-Forma EBITDA guidance for FY26 in the range of $15 million to $24 million.

Executive Comments

Chair Mark Dewdney stated, “We have continued to make solid improvement during FY25. Our teams throughout the business have worked incredibly hard during the year, and our strong financial performance is a credit to them. Our strong balance sheet gives us the confidence, and ability to invest in our future growth plans, which are anchored by our Blue Endeavour open ocean farm.”

CEO Carl Carrington said, “While we are pleased with the continued improvements to our financial performance, our investment into our new strategy, understanding our organisational capabilities and our risk management framework is designed to prepare our company to achieve further growth and improvements. In terms of our market potential, consumer demand for King salmon remains high. We see major growth opportunities in key markets, such as North America, Australia and China. We are actively planning sales and market development to ensure the increased supply from Blue Endeavour meets growing demand.”

Carl Carrington added, “The foundation of our success will always be our fish. Maintaining our ‘fish come first’ approach is essential, as healthy, thriving fish are key to both our growth and long-term sustainability. By prioritising their welfare, we safeguard our stable core business and drive steady improvements — one eye on the now, and the other on the future. This is underpinned by our new strategic purpose statement ‘towards a healthier tomorrow.’ FY26 is shaping up to be an exciting year for New Zealand King Salmon with the Blue Endeavour opportunity becoming operational, albeit on a pilot scale. We are scheduled to have our Blue Endeavour fish at the Waihinau site in April, with these fish being transferred to the Blue Endeavor site in October, this represents another important milestone for the Company.”

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