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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Kaldvik
Kaldvik (KLDVK) investor relations material
Kaldvik Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary13 Nov, 2026
Executive summary
Q3 harvest was 4,483 tonnes, above ~3,500-tonne guidance, with a 75.8% superior share; jellyfish-related mortality in generation 25 drove an €11.5m biomass write-down.
Operational EBIT excluding the write-down was -€3.8m; FY 2026 harvest guidance remained ~17,000 tonnes.
Financial highlights
Q3 operating income was €26.1m vs €9.9m YoY; salmon revenue was €25.7m vs €9.6m.
Operational EBIT was -€3.8m vs -€5.0m YoY, or -€0.85/kg vs -€3.26/kg, excluding the €11.5m write-down.
Q3 net loss was €18.8m vs €11.1m YoY; basic and diluted EPS was -€0.11 vs -€0.07.
YTD 2026 total revenue was €73.9m vs €66.2m; net loss was €60.9m vs €33.9m.
Outlook and guidance
Q4 2026 harvest is expected at ~4,200 tonnes; FY 2026 guidance remains ~17,000 tonnes and FY 2027 guidance is ~18,000 tonnes.
Revised plan targets ~30,000 tonnes in 2028, with long-term potential of ~45,000 tonnes supported by the 53,800-tonne MAB license base.
2027 is a transition year; 2028 growth is expected to be driven by generation 26 biomass and improved biological yield in later generations.
The 2025 generation model assumes a 75% superior share; written-down biomass is expected to lower its future cost per kilo.
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Latest events from Kaldvik
- Harvest and operational metrics improved, but losses and debt increased amid volatile markets.KLDVK
Q2 2026 - Q1 2026 losses from early harvest were offset by new strategies and improved future outlook.KLDVKQ1 2026
- Record Q4 harvests but negative EBIT; 2025 generation drives optimism for 2026.KLDVKQ4 2025
- Q3 2025 featured lower harvest, deepening losses, and reduced guidance amid operational challenges.KLDVKQ3 2025
- Q2 2025 marked by negative EBIT and weak harvests, but 2025 outlook strong on new capacity.KLDVKQ2 2025
- Q3 EBIT EUR 2.1M, revenue EUR 24.5M, 2024 harvest cut to 15,000t amid growth investments.KLDVKQ3 2024
- Negative EBIT in Q2, but strong biomass and 17,500t harvest guidance with major investments.KLDVKQ2 2024
- Strong Q1 growth, asset acquisitions, and new financing support future expansion.KLDVKQ1 2025
- Biological setbacks led to a EUR 23.1m write-down, but growth and refinancing initiatives continue.KLDVKQ4 2024
Next Kaldvik earnings date
Q4 202625 Feb, 2027
Kaldvik
Next Kaldvik earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
Kaldvik (formerly Ice Fish Farm AS) operates as a fish farm in Iceland. It also cultivates biostimulants, which are naturally occurring substances intended to stimulate various physiological responses and accelerate the natural metabolic activity of aquatic organisms such as phytoplankton and zooplankton. The company was founded in 2020 and is based in Kopavogur, Iceland