Q1 FY25 business update overview

Clean Seas Seafood (ASX:CSS) has released its Q1 FY25 business update. The company reported a sales volume of 605 tonnes, generating A$13.4 million in revenue. This marks a decrease from the previous quarter due to strategic decisions. However, pricing per kilogram increased as demand stayed strong.

Strategic focus and future outlook

Clean Seas Seafood's Q1 FY25 update shows a strategic shift towards higher-margin sales channels and inventory reduction, resulting in a sales volume of 605 tonnes and A$13.4 million in revenue. The company highlights improvements in operational cash flow and a consolidated farming footprint. They aim for FY25 sales volumes of 2,550 - 2,650 tonnes with an operating EBITDA close to breakeven. With decreasing feed prices and the introduction of new technologies, Clean Seas is poised to enhance its financial performance. The appointment of Craig Hughes as GM Operations underscores their commitment to operational efficiency and best practices, setting a course for sustainable growth.

Executive insights on financial performance

We have successfully reduced our frozen inventory and achieved positive operating cash flow, thanks to our strategic focus on higher-margin channels and cost-saving measures. Our pricing increase reflects ongoing strong demand, and we are optimistic about our financial outlook as feed prices decrease.