New Zealand King Salmon Investments Ltd – FY25 (Sept) Performance and GHG Disclosure

New Zealand King Salmon Investments Ltd (NZX: NZK, ASX: NZK) delivered a starkly negative financial picture for the eight‑month period ending 30 September 2025, reversing the profitability shown in the year‑to‑31 January 2025. The company’s results, released on 27 November 2025, reveal a net loss of $6.3 million versus a $13.4 million profit in the prior year. Pro‑forma EBITDA collapsed from $29.7 million to $7.1 million. Sales volumes fell more than 50 % – from 6,582 metric tonnes (12 months to 31 January 2025) to 3,260 metric tonnes (8 months to 30 September 2025). Revenue followed the same downward trend.

What drove the collapse?

  • Supply‑chain constraints and price volatility – The company’s core product, salmon, has suffered from heightened input costs and limited market access, squeezing margins.
  • Operational restructuring – In the year to 31 January, NZK executed a major cost‑cutting program that delivered a temporary profit. By September, the program had begun to incur transition costs that outweighed the savings.
  • Capital expenditure and debt servicing – Recent capital investments in fish‑farming infrastructure and the repayment of short‑term debt have further strained cash flow.

Greenhouse‑gas reporting – a silver lining?

In a separate disclosure, NZK released its Scope 1, 2, 3 GHG Statement for the period ending 30 September 2025. The report follows the Greenhouse Gas Protocol and the Corporate Value Chain (Scope 3) Accounting and Reporting Standard. While the company’s absolute emissions figures were not disclosed in the summary, the statement demonstrates NZK’s compliance with international reporting standards and an intention to integrate sustainability metrics into its strategic planning.

Market reaction and investor confidence

The company’s share price, trading at AUD 0.185 on 24 November 2025, sits well below the 52‑week low of AUD 0.17 and near the 52‑week high of AUD 0.235. A price‑earnings ratio of –6.53 reflects the ongoing loss and signals investor caution. Market capitalization hovers at roughly AUD 99.6 million, underscoring the limited scale of the firm’s operations relative to its peers.

Corporate governance and transparency

The ongoing disclosure notice from 24 November 2025 details the acquisition of a relevant interest by Director Jack Lee Porus, reinforcing the company’s commitment to regulatory transparency.

Bottom line

New Zealand King Salmon Investments Ltd’s FY25 (Sept) results expose a company in transition: profitability has been eroded by supply‑chain pressures, high operating costs, and a restructuring slowdown. Despite a comprehensive GHG reporting effort, the firm’s financial fundamentals remain weak, and its share price reflects the uncertainty that investors face. Unless a clear turnaround strategy is articulated – particularly one that addresses cost control, market expansion, and debt management – confidence in the company’s ability to regain profitability will stay low.