© Suzan Fotografie
The Kingfish Company's sales volumes for October and November 2024 soared by 56 percent and 61 percent, respectively, year-on-year, with December projections exceeding 55 percent growth. Total Q4 sales volumes are expected to reach 520–540 metric tonnes, driven by increased market demand and promotional activities.
In tandem with its sales acceleration, The Kingfish Company is undertaking strategic measures to optimise operations. Reductions of biomass levels will target a standing biomass of approximately 800 metric tonnes by the end of Q1 2025. These changes are expected to restore operational efficiency and improve key performance indicators, such as feed conversion ratios and growth rates, which were impacted by previously elevated biomass levels.
To further bolster its expansion, the company has announced a fully underwritten €14 million equity raise. This capital injection will support its sales ramp-up and general corporate initiatives.
“We are taking decisive steps to optimise our operations by adjusting biomass levels to restore operational efficiency and align production with demand. These actions, combined with the contemplated fully underwritten €14 million equity raise and adjustments to our financing terms, will strengthen our ability to scale production toward full capacity and deliver on our strategic objectives for 2025 and beyond,” said Vincent Erenst, CEO of The Kingfish Company, in a statement.
