Netherlands RAS fish farmer increased sales and production in Q2
But Kingfish Company's revenue per kilo was lower than in same period last year
Netherlands fish farmer The Kingfish Company today said it had delivered a strong commercial performance in the second quarter of the year, with sales volume increasing 41% year-on-year to 723 tonnes, a record quarter-over-quarter growth in volume.
This reflects sustained demand for fresh yellowtail kingfish (Seriola lalandi), particularly in the company’s key European markets, Kingfish said in a trading update.
Total revenue reached €9.6 million (£8.3m / US $110m), up 31% from the same period last year.
Average revenue per kilogram came in at €13.2, compared to €14.2 in Q2 2024. The decrease was primarily driven by a higher proportion of frozen product sales, following a build-up of inventory in prior quarters to align the farm biomass with sales development. Promotional pricing efforts aimed at expanding market reach and accelerating inventory turnover also impacted average pricing.
Slowdown in US
Kingfish said demand for its fresh product in Europe continues to expand, reinforcing its market leadership. In contrast, growth in the United States has levelled off, despite a 36% revenue increase quarter-on-quarter. A weaker US dollar and newly introduced import tariffs have weighed on pricing and consumer affordability. Kingfish added that it expects that ongoing trade uncertainty may continue to constrain US market potential.
Operationally, production increased by 40% from the 505 tonnes harvested in Q1, reaching 707 tonnes in Q2. Following a biomass reduction implemented earlier this year, Kingfish Company’s land-based recirculating aquaculture system (RAS) farm in Zeeland has returned to optimal biomass levels.
The company said that with well-aligned biomass growth, harvest, and sales, it is now operating under improved biological and production conditions.
The trading update did not include any information on profit and loss.