The Kingfish Company (KING) Q2 2024 TU earnings summary

Sales and revenue performance

• Achieved record sales growth of 36% in Q2 2024, with 512 tons sold compared to 377 tons in Q2 2023.

• Revenue increased by 31% to €7.3 million, up from €5.6 million in Q2 2023.

• Revenue per kg was €14.2, slightly down from €14.8 per kg in Q2 2023.

Operational and biological highlights

• Standing biomass more than doubled to 1,075 tons at the end of Q2 2024.

• Net biomass growth reached 631 tons, up from 512 tons in Q2 2023.

• Harvest volume grew 55% to 599 tons, compared to 387 tons in Q2 2023.

• RAS systems operated optimally, supporting reliable and sustainable production.

Market and product development

• Focused commercial efforts led to market expansion in both professional and retail sectors.

• Main product, Yellowtail Kingfish, is recognized for versatility and premium quality.

• Products are certified sustainable by ASC, BAP, GLOBAL G.A.P., and Friend of the Sea.