Seafarms Group (SFG ) H2 2025 earnings summary

Executive summary

• Focused on developing Project Sea Dragon and operating prawn aquaculture in North Queensland, with significant investment in expansion and international market development.

• 2025 saw a major reduction in prawn production (605 tonnes vs. 1,186 tonnes in 2024) due to market conditions and flooding impacts.

• Project Sea Dragon Pty Ltd was placed into liquidation; $1.4m was recovered, with $1.75m still subject to court proceedings.

• The Group reported a net loss after tax of $11.7m, a significant improvement from the $19.3m loss in 2024.

Financial highlights

• Revenue and other income fell to $14.6m from $25.5m year-over-year.

• Net loss after tax was $11.7m, improved from $19.3m loss in the prior year.

• Basic and diluted loss per share were both (0.24) cents, compared to (0.40) cents in 2024.

• Cash and cash equivalents increased to $3.3m from $1.2m year-over-year.

• Gain on sale of Farms 1 & 2 was $8.4m.

Outlook and guidance

• Strategic direction remains unchanged: develop Project Sea Dragon as a scalable integrated prawn aquaculture project.

• Ongoing efforts to secure full project financing; additional capital may be required if funding is delayed.