The economic sustainability of Italian aquaculture farms: Who has the potential to start the blue transition?

The European policy objectives, aligned with the Green Deal, focus on strengthening the aquaculture sector’s resilience, competitiveness, and sustainability. In this regard, the present work explores whether aquaculture companies are prepared to embrace the blue transition and invest in new practices and technologies. The study examines the case of Italian aquaculture by analyzing the financial performance of various companies through Altman’s Z’ Score, classifying them based on their balance sheets from 2017 to 2021. This study supports the idea that financially stable companies have the economic potential to invest in a more sustainable future. The findings highlight that 80 % of Italian aquaculture companies are currently under financial stress, limiting their capacity to adopt new practices or technologies. These results open the debate for decision-makers about whether the priority should be the blue transition or the companies’ financial stability.