Kingfish Company N.v. · OSL:KING
Kingfish — The Kingfish Company — Q3 2024 Earnings Presentation
13 slides from Kingfish's earnings presentation, Nov 6, 2024
Slide 1: Q3 2024 Financial Results
Q3 2024 Financial Results November 6, 2024
Slide 2: Disclaimer
Disclaimer This document includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this document are based on current expectations, estimates and projections about globa
Slide 3: Agenda
AGENDA Highlights Q3 2024 Production Sales Profitability Financing Concluding Remarks 3
Slide 4: Highlights Q3 2024
Highlights Q3 2024 Kingfish reporting another quarter of robust growth Volume sold increased 37% to 514 tons Sales and Marketing team fully strengthened, effective Q4 Temporary reduction in productivity to align with current sales volume On track for profitability and operational cash break-even by
Slide 5: Hatchery making significant steps forward
Hatchery making significant steps forward Breeding program expanded with next generation larvae and new genes Next generation larvae Successful production of a new generation on site New generation expected to accelerate growth rates, enhance feed efficiency, and provide overall higher quality New g
Slide 6: Production
Production Biomass growth and productivity 700 0.86 0.90 0.83 642 637 626 631 0.80 600 569 0.80 512 0.64 0.70 500 0.57 0.56 0.60 421 0.50 400 0.50 300 0.40 0.30 200 0.20 100 0.10 0 0.00 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Biomass growth (tons) Productivity (kg growth/m3/day) Standing biomass a
Slide 7: Sales volume and revenue
Sales volume and revenue Sales volume Sales per quarter +37% 7,000 +28% 6,000 512 514 5,000 500 4,000 450 410 3,000 400 384 384 377 375 363 2,000 347 343 350 319 1,000 300 - Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q1 Q2 Q3 Q4 2022 2023 2024 Volumes sold stable compared to Q
Slide 8: Price and size mix
Price and size mix Revenue in € per kg Ratio Large / Small - Fresh 15.3 15.2 Large Small 14.4 14.2 14.3 53% 54% 48% 49% 45% 44% 44% 36% 34% 37% 29% Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Price level reflects mix Fresh/Frozen and promotions in
Slide 9: Production and operations
Production and operations Feed cost Energy cost Production cost EUR / kg produced EUR / kg produced EUR / kg produced +16% +44% +26% 1.7 1.4 1.4 9.4 4.0 8.9 8.1 3.7 7.5 7.7 3.5 1.0 3.4 3.1 0.6 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 While feed prices
Slide 10: Profitability
Profitability Gross margin SG&A Operational EBITDA EUR / kg sold EUR / kg sold EUR / kg sold -33% -19% Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 4.6 7.5 4.3 -0.3 -0.6 -0.9 5.1 3.0 2.9 2.9 4.7 4.5 -1.6 3.8 -4.5 -159% Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Gross margin will increase by: The f
Slide 11: Financing and liquidity
Financing and liquidity Liquidity, operational cash flow Financing structure and interest Total liquidity of EUR 15 million at end of Q3 2024 Deposit Cash Q3 2024 cash usage was € 3.3 million: € 3.0mio € 6.4mio € 0.4 million capex € 1.6 million interest € 5.0mio € 1.0 million increase in frozen prod
Slide 12: Concluding remarks
Concluding remarks Our strategic investments in sales and marketing are driving strong growth, as evidenced by a 37% increase in sales volume and a 28% increase in revenue The successful production of the next-generation fingerlings marks a new milestone, underscoring 15 years of advancements in our
Slide 13: Q&A The Kingfish Company
Q&A The Kingfish Company 1 3