King salmon was introduced to New Zealand from northern California as a game fish in the late 19th century
Warmer summer negativily affect NZ King Salmon's harvest, earnings
(NEW ZEALAND, 5/3/2019)
The 2019 summer season has again been challenging for overall fish performance, due to sustained warm water temperatures which continued into April, reports New Zealand King Salmon.
The company announced that full year mortality cost for the year ended 30 June 2019 (FY19) will now be materially higher than in FY18, and that it expects to harves around 7,900 tonnes, down 9 percent from the previous estimate.
Biological perfomance previously presented to investors
As a consequence directors advise that expected FY19 operating EBITDA is likely to be at the lower end of the previously noted Guidance of between NZD 25.0 million and NZD 28.5 million.
Havest volumes previously presented to investors
The challenging summer means that FY20 harvest volumes are likely to be in line with FY19, rather than around 8,700 tonnes previously advised.
John Ryder, Chairman of New Zealand King Salmon, said that although fish performance has not met theirexpectations during 2019, "the company continues to meaningfully grow value within the available supply of salmon."
Managing director and chief executive Grant Rosewarne highlighted that the company adopted specific measueres to mitigate the effects of climate change, such as:
- Choosing to move to site single year class of fish across all farms as soon as possible (global best practice is regional ‘all in all out’ single year class), with fallowing between year classes.
- Intensified work with Government and the local community, to obtain approval for the critical Ministry for Primary Industry proposal covering relocation of low flow sites to higher flow areas.
- Actioning the current strategy towards longer term open ocean farming.
“We note that the Coalition Government is committed to addressing and mitigating the effects of climate change and strengthening biosecurity. New Zealand’s green rated salmon industry is an ideal candidate to demonstrate that commitment given the solutions are relatively simple, such as shifting existing salmon space to cooler deeper waters and enabling open ocean farming, together with best practice biosecurity protocols," said Rosewarne.
"We believe local councils, such as the Marlborough District Council, would respond positively to such leadership," he added.
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Information of the company:
Address:
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31 Bullen Street
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City:
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Tahunanui
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State/ZIP:
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Nelson (NZ 7011)
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Country:
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New Zealand
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Phone:
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+64 3 548 5714
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Fax:
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+64 3 548 6993
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E-Mail:
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[email protected]
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