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Listing venue - Euronext Growth Oslo
Ticker - WEST
Number of shares - 33,619,715
Face value - NOK 0,05
Registrar - Nordea Issuer Services
Please click here for live share price

 

Investor Presentations

Financial calendar

18.01. 2024

Extraordinary General Meeting

15.02. 2024

Second Half Report 2023
(after close)

13.03. 2024

Annual Report 2023

03.04. 2024

Annual General Meeting

23.05. 2024

Announcement of
Q1 2024 dividend

15.08. 2024

First Half Report 2024
and announcement of
Q2 2024 dividend

10.10. 2024

Announcement of
Q3 2024 dividend
(after close)

Dividend policy and History

Western Bulk aims to distribute minimum 80% of net profit in quarterly dividend payments, subject to sufficient free liquidity and working capital to support such payment. The timing and amount of dividends is at the discretion of the Board of Directors.

Period Declared Total dividend amount Dividend per share Ex dividend date Record date Payable date
FY 2021 10.03.22 65 mUSD NOK 17,23 21.03.22 22.03.22 29.03.22
Q1 2022 25.04.22 16 mUSD NOK 4,24 27.04.22 28.04.22 05.05.22
Q2 2022 15.08.22 13 mUSD NOK 3,85 17.08.22 18.08.22 25.08.22
Q3 2022 20.10.22 10 mUSD NOK 3,00 24.10.22 25.10.22 02.11.22
Q4 2022 09.02.23 10 mUSD NOK 3,00 14.02.23 15.02.23 22.02.23
Q1 2023 - - -      
Q2 2023 - - -      
Q3 2023 - - -      
Q4 2023 - - -      
Q1 2024 - - -      
Q2 2024 - - -      
Q3 2024 - - -      

 

Analyst Coverage

This is the current analyst coverage of Western Bulk shares. Please see their contact information below if you have enquiries or wish to access their research.

Lars Bastian Østereng             
Arctic Securities ASA                   
+47 22 93 72 13   
lars.ostereng@arctic.com

Jørgen Lian                               
DNB Markets ASA                         
+47 24 16 91 88
jorgen.lian@dnb.no

             

Analyst Coverage
Main shareholders

Main shareholders

Name # Shares Ownership
Kistefos group  23 093 152 68,7%
Sayonara AS (former Ojada AS) 2 776 792 8,3%
Citibank N.A. 927 840 2,8%
Øra Industrier AS 640 000 1,9%
Employees 529 886 1,6%
Euroclear Bank S.A./N.V. 462 792 1,4%
Avanza Bank AB 282 266 0,8%
Other (1100 other shareholders) 4 906 987 14,6%
  33 619 715 100%

 

General meetings notices and minutes

Key figures

Western Bulk Chartering group

USD million H1 2024 H1 2023 2023 2022 2021
           
Gross revenues 647.4 574.2 1 117.6 1 615.8 1 487.9
Net TC Result 1) 15.1 7.0 9.3 116.0 137.9
Administrative expenses 12.8 12.2 25.1 47.6 50.7
EBITDA 1) 2.4 (5.2) (15.8) 68.5 87.2
Net profit (loss) after tax 1) 2.5 (4.8) (15.6)  66.0 81.0
           
Net TC margin per ship day (USD) 1) 626 310 202 2 870 3 376
Average number of vessels operated 133 125 126 111 112
           
Total assets 118.1 150.7 119.8 162.6 196.6
Book equity 55.0 63.3 52.5 68.1 51.1
Total liabilities 63.1 87.5 67.4 94.5 145.5
           
Interest bearing debt - - - - 3.4
           
Free cash 12.7 47.1 32.9 57.1 108.3
Restricted cash 9.9 23.0 7.5 11.7 13.9
Total cash 22.5 70.1 40.4  68.8 122.1

 

Net TC margin per ship day is the voyage related result (Gross revenues less voyage related costs, FFA and tonnage cost) divided by total ship days in the period.

 

1) 1H 2024 and 1H 2023 Net TC including USD +3.4 million gain and USD -2.7 million loss on positional FFA’s (Forward Freight Agreements). Full year 2023, Full year 2022 and Full year 2021 Net TC including USD -3.8 million loss, USD 3.8 million gain and USD 24.2 million gain. These are derivative positions not qualifying as a hedge, hence booked as financial items in the financial statements.