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    KING ME   NL00150001S5


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Kingfish N : The Kingfish Company - Business update Q3'21

10/07/2021 | 02:01am EST
The Kingfish Company [Euronext: KING] increases capacity guidance of existing
and planned systems by 20 percent, reports record production and harvest levels,
and achieves higher sales prices in Q3 2021.

With close to four years of continuous system operation, strong consistent
productivity, and 23 full production cycles from hatchery to harvest- with no
mass mortality incidents- The Kingfish Company now increases the currently
installed capacity guidance from previous 1,250 tonnes to 1,500 tonnes per year.
This change also applies to all future planned facilities.

"We are continuously impressed with the robustness and quality of our systems,
and proud of the high level of professionalism of our team. We are now looking
back at close to four years of successful and continuous operation with no mass
mortality events. With productivity consistently exceeding initial design
capacity, we are confident that the name-plate capacity of our current and
planned systems can be increased substantially compared to earlier estimates,"
said Ohad Maiman, CEO of The Kingfish Company.

"In the third quarter, we achieved full run-rate standing biomass of the new
system, as planned. In addition, we see yet another quarter with record
production, record harvest levels and record sales prices, all contributing to
solid results," Mr. Maiman continued.

In Q3 2021 the company set a new production record with 338 tons growth, an
increase of 26 percent over the previous record achieved in Q2'21. The currently
installed capacity guidance increases from previous 1,250 tonnes to 1,500 tonnes
per year. Productivity was 0.68 kg per cubic meter per day, an increase of 10%
from the previous quarter as the new system capacity matures.

Compared to Q3'20 sales grew 70 percent in revenue to EUR2.8m and 54 percent in
whole fish equivalent (WFE) tonnage to 232 tonnes. Record average sales price of
EUR12.2/WFE kg achieved on overall sales, an increase of 4 percent on Q2'21 and 11
percent on Q3'20.

The achieved sales price of large fish averaged at EUR13.7/WFE kg and small fish
at EUR10.6/WFE kg during Q3'21.

For more information

Please see the attached Q3 2021 business update presentation.

The Kingfish Company will present the business update to investors, analysts,
and media on Thursday October 7th, 2021 at 11:00 CEST. The online presentation
will be followed by a Q&A session. Both will be hosted by the company's CEO Ohad
Maiman, CFO Christo du Plessis and COO Kees Kloet.

Call in details

For media and investor inquiries, please contact

Company News feed

About The Kingfish CompanyThe Kingfish Company is a pioneer and leader in sustainable land-based
aquaculture. Current annual production capacity at its Kingfish Zeeland facility
in the Netherlands is 1,500 tons of high quality and high value Yellowtail

Expansion is underway and capacity in the Netherlands will reach 3,500 tons in
the second half of 2022. In the US, permitting for the company's 8,500 tons
capacity facility is progressing as planned, with production start scheduled for
second half of 2023.

Production is based on advanced recirculating aquaculture systems (RAS), which
protect biodiversity and ensure biosecurity. Animal welfare is paramount, and
the fish is grown without use of antibiotics and vaccines. Operations run on 100
percent renewable energy, sourced from wind, solar and biogas. The company's
facilities operate on sea water, avoiding wasting of precious fresh water.

The Kingfish Company's main product at present, the Yellowtail Kingfish (also
known as Ricciola/Hiramasa/Greater Amberjack) is a highly versatile premium fish
species, well known in the Italian and Asian fusion cuisines.
Its products are certified and approved as sustainable and environmentally
friendly by Aquaculture Stewardship Council (ASC), Best Aquaculture Practices
(BAP) and British Retail Consortium (BRC). It was the winner of the 2019 Seafood
Excellence Award, and it is recommended as green choice by Good Fish Foundation.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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More news
Sales 2021 8,74 M 9,89 M 9,89 M
Net income 2021 -7,28 M -8,24 M -8,24 M
Net Debt 2021 29,0 M 32,8 M 32,8 M
P/E ratio 2021 -21,0x
Yield 2021 -
Capitalization 153 M 173 M 173 M
EV / Sales 2021 20,8x
EV / Sales 2022 15,5x
Nbr of Employees 93
Free-Float 35,8%
Duration : Period :
The Kingfish Company N.V. Technical Analysis Chart | KING ME | NL00150001S5 | MarketScreener
Technical analysis trends THE KINGFISH COMPANY N.V.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 1
Last Close Price 2,25 €
Average target price 3,32 €
Spread / Average Target 47,4%
EPS Revisions
Managers and Directors
Ohad Maiman Chief Executive Officer
Christo du Plessis Chief Financial Officer
Johannes Cornelius A den Bieman Chairman
Kees Kloet Chief Operating Officer
Janneke van der Linde Head-Sales & Marketing
Sector and Competitors