New Zealand King Salmon Investments Limited Analysis

Overview

New Zealand King Salmon is the world's largest aquaculture producer of King salmon, supplying salmon under three key brands: Ora King, Regal and Southern Ocean. We own and operate eight seafarms in the Marlborough Sounds, harvesting and processing more than 7,000 MT of King salmon a year.

Three new sea farms consented in 2014 are expected to enable the company to approximately double annual production over time. NZ King Salmon controls all elements of the value chain from breeding and growing to harvesting and processing, and we have been selling salmon to consumers and chefs for more than 30 years.

The New Zealand salmon farming industry has been recognised as a global leader in sustainable seafood following New Zealand's 'Best Choice' accreditation in 2015 in the Monterey Bay Aquarium's globally respected consumer guide Seafood Watch.

NZ King Salmon listed on the New Zealand and Australian Stock Exchanges in October 2016.

Performance

The following information was extracted from New Zealand King Salmon Investments Limited's Half year results, released on 26 May 2026

NZK - NEW ZEALAND KING SALMON INVESTMENTS LIMITED ANNOUNCES 1HY26 RESULTS

New Zealand King Salmon Investments Ltd (NZX & ASX: NZK) reports its financial performance for the sixmonth period ended 31 March 2026 (1HY26). Key points include:

• Net profit for the period: $13.8m for the 6 months ended 31 March 2026 (1HY26), compared to a loss of $20.8m for the 6 months ended 31 July 2025

• Pro-forma EBITDA: A profit of $17.2m for 1HY26, compared to a profit of $5.7m for the 6 months ended 31 July 2025

• Pro-forma EBIT: A profit of $12.3m for 1HY26, compared to a profit of $1.2m for the 6 months ended 31 July 2025

• Sales volumes: Increased to 2,799 MT (6 months to 31 March 2026) from 2,624 MT (6 months to 31 July 2025)

• Revenue: increased to $100.3m (6 months to 31 March 2026) from $94.5m (6 months to 31 July 2025)

“It has been a positive start to FY26 with strong results off the back of positive fish performance over the summer period, which also supported a strong first half of sales and greater operational efficiencies across the company. The improved summer fish performance can be attributed to a range of factors and initiatives including the implementation of the new summer diet, increased grading of stock and a focus on operational execution.

“Looking at the remainder of FY26 we have seen in May the arrival of the Ronja King wellboat and the successful installation of our Blue Endeavour pilot pens, marking significant milestones for our company. These are big pieces of operational infrastructure that will underpin our volume growth from FY27 onwards,” says CEO Carl Carrington.