Murray Cod Australia (MCA) H2 2025 earnings summary

Executive summary

• Achieved a significant turnaround with net profit after tax of $8.56M in FY25, compared to a $6.22M loss in FY24, driven by strong operational execution and strategic investments.

• Biological stock value rose 112% to $67.83M, and EBITDA surged 808% to $18.61M year-over-year.

• Major infrastructure expansion completed at the Stanbridge site, increasing production capacity and supporting future growth.

• Focused on converting increased biomass into cash, with a reliable harvest cycle now established.

Financial highlights

• Revenue increased to $54.1M in FY25 from $30.2M in FY24, reflecting strong sales and biological asset gains.

• Net profit after tax was $8.56M, a turnaround from a $6.22M loss in FY24.

• EBITDA reached $18.61M, up 808% year-over-year.

• Net assets grew to $100.91M from $91.08M in FY24.

• Biological assets valued at $67.83M, up from $32.07M in FY24.

Outlook and guidance

• Strategic focus on converting biomass to cash as fish reach optimal size, expecting uplift in cashflow and financial strength in FY26.

• Continued investment in operational capacity, R&D, and market expansion, with disciplined domestic-first strategy before accelerating exports.

• Targeting further growth in both domestic and international markets, leveraging new infrastructure and brand credibility.