New Zealand King Salmon has announced a reduction in its harvest volumes for the 2025-26 financial year, which will have a negative impact on its earnings guidance.
The company said the decision to reduce harvest was made to rebuild biomass after a period of lower than anticipated growth.
The main reason for the reduced growth was subdued feed outs, which were below forecast volume for longer than expected.
As a result of the harvest reduction, NZK's forecast harvest volume for FY26 has been revised down to 5,200-5,400 metric tonnes, from the previous range of 5,900-6,300t.
The company's pro-forma ebitda guidance for FY26 has also been lowered to $6 million-$12m, from $15m-$24m.
NZK expects harvest volumes to start recovering by September 2025.
It acknowledged that the reduced harvest would have an impact on its operations and customers, and said it is currently working through those issues.
NZK said the reason for the reduced feed outs and growth rates is multifactorial, with the warmer water months being the dominant correlation.
It said this can lead to increased stress and fish health challenges, which suppress appetite and growth.
The company plans to implement a specific summer diet to support fish health and performance, based on positive trial results in its Ruakākā trial pens.
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