View ValuationWestern Bulk Chartering 将来の成長Future 基準チェック /16Western Bulk Charteringの収益は年間107.5%で減少すると予測されていますが、年間利益は年間6.5%で増加すると予測されています。EPS は年間 増加すると予測されています。自己資本利益率は 3 年後に12.5% 5.1%なると予測されています。主要情報6.5%収益成長率5.11%EPS成長率Shipping 収益成長5.1%収益成長率-107.5%将来の株主資本利益率12.50%アナリストカバレッジLow最終更新日10 Mar 2026今後の成長に関する最新情報お知らせ • Dec 23Western Bulk Chartering AS Provides Earnings Guidance for the Full Year of 2023Western Bulk Chartering AS provided earnings guidance for the full year of 2023. The company is expecting net loss after tax of USD 14 million to USD 16 million for the full year.お知らせ • Apr 26+ 1 more updateWestern Bulk Chartering as Provides Earnings Guidance for the Second Quarter of 2022Western Bulk Chartering AS provided earnings guidance for the second quarter of 2022. The company is expecting net profit after tax of USD 7 million to USD 9 million.お知らせ • Mar 30Western Bulk Chartering AS Provides Earnings Guidance for the First Quarter 2022Western Bulk Chartering AS provided earnings guidance for the first quarter 2022. The company is expecting a record First Quarter 2022 result with net profit after tax of USD 18 million to USD 20 million.すべての更新を表示Recent updatesBoard Change • May 20No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Member of the Board Betina Nygaard is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.お知らせ • Feb 14Western Bulk Chartering AS Proposes Cash Dividend, Payable on February 25, 2026Western Bulk Chartering AS proposed cash dividend of NOK 1.21 per share to be paid by the company. Last day including right is February 13, 2026. Ex-date is February 16, 2026. Record date is February 17, 2026. Payment date is February 25, 2026.お知らせ • Dec 30Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2026Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2026.お知らせ • Nov 01+ 1 more updateWestern Bulk Chartering AS to Report Fiscal Year 2025 Results on Mar 11, 2026Western Bulk Chartering AS announced that they will report fiscal year 2025 results on Mar 11, 2026お知らせ • Jun 19Western Bulk Chartering as Elects Espen Åbø as Member of the Board of DirectorsWestern Bulk Chartering AS at the extraordinary general meeting held on June 19, 2025, Espen Åbø was elected as a new member of the board of directors.お知らせ • Apr 10Western Bulk Chartering AS Approves Dividend Payment in Accordance with the Dividend PolicyWestern Bulk Chartering AS at its annual general meeting held on April 10, 2025, approved dividend payment in accordance with the following dividend policy: Western Bulk aims to distribute minimum 80% of net profit in quarterly dividend payments, subject to efficiency free liquidity and working capital to support such payments. The timing and amount is at the discretion of the Boards of Directors. The policy has been in force since the annual general meeting in 2022. The authority to approve dividend payment will be based on the company's unaudited quarterly management accounts for the financial year commencing January 1, 2025 to December 31, 2025 without being required to publish those accounts, with such authority to expire on the date of next annual general meeting.お知らせ • Jan 01Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2025Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2025.お知らせ • Dec 31+ 2 more updatesWestern Bulk Chartering AS to Report First Half, 2025 Results on Aug 14, 2025Western Bulk Chartering AS announced that they will report first half, 2025 results on Aug 14, 2025Reported Earnings • Aug 19First half 2024 earnings released: EPS: US$0.074 (vs US$0.14 loss in 1H 2023)First half 2024 results: EPS: US$0.074 (up from US$0.14 loss in 1H 2023). Revenue: US$647.4m (up 13% from 1H 2023). Net income: US$2.49m (up US$7.32m from 1H 2023). Profit margin: 0.4% (up from net loss in 1H 2023). The move to profitability was driven by higher revenue. Revenue is expected to decline by 107% p.a. on average during the next 3 years, while revenues in the Shipping industry in Europe are expected to grow by 2.2%.お知らせ • Jun 26Western Bulk Chartering AS Announces Executive Changes, Effective September 1, 2024Western Bulk Chartering AS announced that Joachim Frantsen has been appointed as the new Head of the North Atlantic desk, effective 1 September 2024. He succeeds Torbjørn Gjervik who has been promoted to Group CEO. Joachim has previously held the position of Head of Black Sea and Mediterranean/Steel team and joined Western Bulk as a chartering manager in January 2017, coming from the Torvald Klaveness Group where he worked in chartering for more than 10 years. The North Atlantic desk consists of 9 chartering managers working out of the company´s offices in Oslo and Seattle. The team handles a volume of more than 40 vessels across the North Atlantic region.お知らせ • Jun 14Western Bulk Chartering AS Announces Executive ChangesWestern Bulk Chartering AS appointed Amit Jakhmola as the company’s new Head the Indian Ocean desk, effective 1 September. He succeeds Mohneesh Bhutani who will be fully dedicated to the company´s growth within the Panamax segment as Head of Panamax going forward. Amit Jakhmola joined Western Bulk as a chartering manager in April 2019, coming from Ifchor Middle East LLC Dubai as a Dry Cargo Ship Broker. Before that, he worked with Interocean Shipping in Delhi. The Western Bulk Panamax division is fully operational with a total of 5 chartering managers across Dubai, Singapore, and Oslo, allowing the company to cover all major basins and actively engage in a diverse array of trades. Mohneesh Bhutani has held the positions as both Head of Panamax and Head of Indian Ocean, but will be fully dedicated to the company’s growth within the Panamax segment as Head of Panamax going forward.お知らせ • Mar 05Western Bulk Chartering AS Appoints Ørjan Svanevik Interim Chief Executive OfficerThe Board of Directors of Western Bulk Chartering AS announced the appointment of Board member Ørjan Svanevik as interim Chief Executive Officer (CEO), effective immediately. Svanevik has been a Board member of the company since August 2023, and will continue to serve as a director in parallel with the interim CEO position. Reference is made to the stock exchange notice 15 February 2024, announcing that Hans Aasnæs will step down from his position as CEO of Western Bulk.Reported Earnings • Feb 18Full year 2023 earnings released: US$0.47 loss per share (vs US$1.96 profit in FY 2022)Full year 2023 results: US$0.47 loss per share (down from US$1.96 profit in FY 2022). Revenue: US$1.12b (down 31% from FY 2022). Net loss: US$15.6m (down 124% from profit in FY 2022). Revenue is forecast to decline by 104% p.a. on average during the next 3 years, while revenues in the Shipping industry in Europe are expected to remain flat.New Risk • Feb 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. High level of non-cash earnings (20% accrual ratio). Minor Risks Dividend is not well covered by cash flows (188% cash payout ratio). Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (€74.7m market cap, or US$80.5m).Valuation Update With 7 Day Price Move • Dec 28Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to €2.22, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Shipping industry in Europe. Total loss to shareholders of 29% over the past year.お知らせ • Dec 23Western Bulk Chartering AS Provides Earnings Guidance for the Full Year of 2023Western Bulk Chartering AS provided earnings guidance for the full year of 2023. The company is expecting net loss after tax of USD 14 million to USD 16 million for the full year.お知らせ • Dec 20+ 3 more updatesWestern Bulk Chartering AS, Annual General Meeting, Apr 03, 2024Western Bulk Chartering AS, Annual General Meeting, Apr 03, 2024.Reported Earnings • Aug 21First half 2023 earnings released: US$0.14 loss per share (vs US$1.11 profit in 1H 2022)First half 2023 results: US$0.14 loss per share (down from US$1.11 profit in 1H 2022). Revenue: US$574.2m (down 35% from 1H 2022). Net loss: US$4.84m (down 113% from profit in 1H 2022). Revenue is expected to fall by 106% p.a. on average during the next 3 years compared to a 6.2% decline forecast for the Shipping industry in Europe.Board Change • Aug 21No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Reported Earnings • Aug 18First half 2023 earnings released: US$0.14 loss per share (vs US$1.11 profit in 1H 2022)First half 2023 results: US$0.14 loss per share (down from US$1.11 profit in 1H 2022). Revenue: US$574.2m (down 35% from 1H 2022). Net loss: US$4.84m (down 113% from profit in 1H 2022). Revenue is expected to fall by 106% p.a. on average during the next 3 years compared to a 6.3% decline forecast for the Shipping industry in Europe.New Risk • Aug 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 42% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (42% accrual ratio). Minor Risks Dividend is not well covered by cash flows (189% cash payout ratio). Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (€80.7m market cap, or US$87.8m).Buying Opportunity • May 10Now 28% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be €4.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 107% per annum. Earnings is also forecast to decline by 48% per annum over the same time period.Buying Opportunity • Apr 11Now 25% undervalued after recent price dropOver the last 90 days, the stock is down 7.9%. The fair value is estimated to be €4.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 107% per annum. Earnings is also forecast to decline by 48% per annum over the same time period.Reported Earnings • Mar 18Full year 2022 earnings released: EPS: US$1.96 (vs US$2.41 in FY 2021)Full year 2022 results: EPS: US$1.96 (down from US$2.41 in FY 2021). Revenue: US$1.62b (up 8.6% from FY 2021). Net income: US$66.0m (down 19% from FY 2021). Profit margin: 4.1% (down from 5.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 107% p.a. on average during the next 3 years compared to a 11% decline forecast for the Shipping industry in Europe.Buying Opportunity • Mar 15Now 20% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be €4.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to decline by 107% per annum. Earnings is also forecast to decline by 48% per annum over the same time period.お知らせ • Feb 11Western Bulk Chartering AS Declares Quarterly Dividend for the Fourth Quarter 2022, Payable on 22 February, 2023Western Bulk Chartering AS declared a quarterly dividend of NOK 3 per share for the fourth quarter 2022, totaling a dividend of USD 10 million. The ex-dividend date is February 14, 2023, record date is February 15, 2023 and payment date is 22 of February, 2023. Last day including right is February 13, 2023 and approval date is February 9, 2023.Reported Earnings • Feb 10Full year 2022 earnings releasedFull year 2022 results: Revenue: US$1.62b (up 8.6% from FY 2021). Net income: US$66.0m (down 19% from FY 2021). Profit margin: 4.1% (down from 5.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 137% p.a. on average during the next 2 years compared to a 11% decline forecast for the Shipping industry in Europe.Board Change • Jan 20No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.お知らせ • Dec 31+ 3 more updatesWestern Bulk Chartering AS to Report Fiscal Year 2022 Results on Feb 09, 2023Western Bulk Chartering AS announced that they will report fiscal year 2022 results on Feb 09, 2023Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.お知らせ • Oct 21Western Bulk Chartering AS Declares Dividend for the Third Quarter of 2022, Payable on November 2, 2022Western Bulk Chartering AS declared a dividend of USD 10 million based on the company's results for the third quarter of 2022. The dividend of USD 10 million corresponds to a dividend of NOK 100.9 million, or NOK 3.00 per share. The share will trade ex dividend on October 24, 2022, record date is October 25, 2022 and payment date is November 2, 2022.お知らせ • Aug 16Western Bulk Chartering AS Declares Cash Dividend, Payable on August 25, 2022Based on the strong results for the first half of 2022, Western Bulk Chartering AS hereby declares a quarterly dividend of USD 13 million for the second quarter. Dividend per share is NOK 3.85 at USDNOK 9,95. Ex-date is August 17, 2022. Record date is August 18, 2022. Payment date is August 25, 2022.Valuation Update With 7 Day Price Move • Jul 29Investor sentiment improved over the past weekAfter last week's 17% share price gain to €5.20, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Shipping industry in Europe.Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.お知らせ • Apr 26+ 1 more updateWestern Bulk Chartering as Provides Earnings Guidance for the Second Quarter of 2022Western Bulk Chartering AS provided earnings guidance for the second quarter of 2022. The company is expecting net profit after tax of USD 7 million to USD 9 million.お知らせ • Mar 30Western Bulk Chartering AS Provides Earnings Guidance for the First Quarter 2022Western Bulk Chartering AS provided earnings guidance for the first quarter 2022. The company is expecting a record First Quarter 2022 result with net profit after tax of USD 18 million to USD 20 million.Valuation Update With 7 Day Price Move • Mar 18Investor sentiment improved over the past weekAfter last week's 15% share price gain to €6.80, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 8x in the Shipping industry in Europe.Valuation Update With 7 Day Price Move • Feb 24Investor sentiment improved over the past weekAfter last week's 18% share price gain to €6.00, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 11x in the Shipping industry in Europe.Reported Earnings • Feb 18Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: US$1.49b (up 91% from FY 2020). Net income: US$81.0m (up US$77.8m from FY 2020). Profit margin: 5.4% (up from 0.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates.お知らせ • Feb 18Western Bulk Chartering AS Propose Dividend for 2021The Board of Directors of Western Bulk Chartering AS will propose a dividend for 2021 of USD 65 million to the Annual General Meeting. The dividend is expected to be paid in end of March, following the Annual General Meeting in medio March.業績と収益の成長予測DB:7EJ - アナリストの将来予測と過去の財務データ ( )USD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202829777112/31/202729777112/31/20263072020112/31/20251,039544N/A9/30/20251,081-199N/A6/30/20251,122-71414N/A3/31/20251,196-544N/A12/31/20241,270-3-6-6N/A9/30/20241,230-6-20-20N/A6/30/20241,191-8-35-34N/A3/31/20241,154-12-26-26N/A12/31/20231,118-16-18-18N/A9/30/20231,212400N/A6/30/20231,307241919N/A3/31/20231,461453737N/A12/31/20221,616665555N/A9/30/20221,711888585N/A6/30/20221,806109115115N/A3/31/20221,64795106106N/A12/31/20211,488819898N/A9/30/20211,204486161N/A6/30/2021921152424N/A3/31/2021850967N/A12/31/20207793-11-11N/A9/30/2020874-6-9-9N/A6/30/2020969-16-7-7N/A3/31/20201,016-27-9-9N/A12/31/20191,063-38-12-11N/A9/30/20191,082-31N/A-28N/A6/30/20191,101-24N/A-45N/A3/31/20191,086-10N/A-35N/A12/31/20181,0704N/A-26N/A9/30/20189867N/A-12N/A6/30/201890210N/A2N/A3/31/20188657N/A4N/A12/31/20178274N/A7N/A9/30/2017799-10N/A-3N/A6/30/2017748-21N/A-20N/A3/31/2017690-29N/A-30N/A12/31/2016632-37N/A-41N/A9/30/2016685-46N/A-24N/A6/30/2016784-37N/A-20N/A3/31/2016887-27N/A1N/A12/31/2015990-16N/A23N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 7EJの予測収益成長率 (年間6.5% ) は 貯蓄率 ( 1.9% ) を上回っています。収益対市場: 7EJの収益 ( 6.5% ) German市場 ( 17.1% ) よりも低い成長が予測されています。高成長収益: 7EJの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: 7EJの収益は今後 3 年間で減少すると予想されています (年間-107.5% )。高い収益成長: 7EJの収益は今後 3 年間で減少すると予測されています (年間-107.5% )。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 7EJの 自己資本利益率 は、3年後には低くなると予測されています ( 12.5 %)。成長企業の発掘7D1Y7D1Y7D1YTransportation 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/09 13:05終値2026/06/09 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Western Bulk Chartering AS 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Kyrre FlesjaDNB CarnegieJostein AschjemDNB Carnegie
お知らせ • Dec 23Western Bulk Chartering AS Provides Earnings Guidance for the Full Year of 2023Western Bulk Chartering AS provided earnings guidance for the full year of 2023. The company is expecting net loss after tax of USD 14 million to USD 16 million for the full year.
お知らせ • Apr 26+ 1 more updateWestern Bulk Chartering as Provides Earnings Guidance for the Second Quarter of 2022Western Bulk Chartering AS provided earnings guidance for the second quarter of 2022. The company is expecting net profit after tax of USD 7 million to USD 9 million.
お知らせ • Mar 30Western Bulk Chartering AS Provides Earnings Guidance for the First Quarter 2022Western Bulk Chartering AS provided earnings guidance for the first quarter 2022. The company is expecting a record First Quarter 2022 result with net profit after tax of USD 18 million to USD 20 million.
Board Change • May 20No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Member of the Board Betina Nygaard is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
お知らせ • Feb 14Western Bulk Chartering AS Proposes Cash Dividend, Payable on February 25, 2026Western Bulk Chartering AS proposed cash dividend of NOK 1.21 per share to be paid by the company. Last day including right is February 13, 2026. Ex-date is February 16, 2026. Record date is February 17, 2026. Payment date is February 25, 2026.
お知らせ • Dec 30Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2026Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2026.
お知らせ • Nov 01+ 1 more updateWestern Bulk Chartering AS to Report Fiscal Year 2025 Results on Mar 11, 2026Western Bulk Chartering AS announced that they will report fiscal year 2025 results on Mar 11, 2026
お知らせ • Jun 19Western Bulk Chartering as Elects Espen Åbø as Member of the Board of DirectorsWestern Bulk Chartering AS at the extraordinary general meeting held on June 19, 2025, Espen Åbø was elected as a new member of the board of directors.
お知らせ • Apr 10Western Bulk Chartering AS Approves Dividend Payment in Accordance with the Dividend PolicyWestern Bulk Chartering AS at its annual general meeting held on April 10, 2025, approved dividend payment in accordance with the following dividend policy: Western Bulk aims to distribute minimum 80% of net profit in quarterly dividend payments, subject to efficiency free liquidity and working capital to support such payments. The timing and amount is at the discretion of the Boards of Directors. The policy has been in force since the annual general meeting in 2022. The authority to approve dividend payment will be based on the company's unaudited quarterly management accounts for the financial year commencing January 1, 2025 to December 31, 2025 without being required to publish those accounts, with such authority to expire on the date of next annual general meeting.
お知らせ • Jan 01Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2025Western Bulk Chartering AS, Annual General Meeting, Apr 10, 2025.
お知らせ • Dec 31+ 2 more updatesWestern Bulk Chartering AS to Report First Half, 2025 Results on Aug 14, 2025Western Bulk Chartering AS announced that they will report first half, 2025 results on Aug 14, 2025
Reported Earnings • Aug 19First half 2024 earnings released: EPS: US$0.074 (vs US$0.14 loss in 1H 2023)First half 2024 results: EPS: US$0.074 (up from US$0.14 loss in 1H 2023). Revenue: US$647.4m (up 13% from 1H 2023). Net income: US$2.49m (up US$7.32m from 1H 2023). Profit margin: 0.4% (up from net loss in 1H 2023). The move to profitability was driven by higher revenue. Revenue is expected to decline by 107% p.a. on average during the next 3 years, while revenues in the Shipping industry in Europe are expected to grow by 2.2%.
お知らせ • Jun 26Western Bulk Chartering AS Announces Executive Changes, Effective September 1, 2024Western Bulk Chartering AS announced that Joachim Frantsen has been appointed as the new Head of the North Atlantic desk, effective 1 September 2024. He succeeds Torbjørn Gjervik who has been promoted to Group CEO. Joachim has previously held the position of Head of Black Sea and Mediterranean/Steel team and joined Western Bulk as a chartering manager in January 2017, coming from the Torvald Klaveness Group where he worked in chartering for more than 10 years. The North Atlantic desk consists of 9 chartering managers working out of the company´s offices in Oslo and Seattle. The team handles a volume of more than 40 vessels across the North Atlantic region.
お知らせ • Jun 14Western Bulk Chartering AS Announces Executive ChangesWestern Bulk Chartering AS appointed Amit Jakhmola as the company’s new Head the Indian Ocean desk, effective 1 September. He succeeds Mohneesh Bhutani who will be fully dedicated to the company´s growth within the Panamax segment as Head of Panamax going forward. Amit Jakhmola joined Western Bulk as a chartering manager in April 2019, coming from Ifchor Middle East LLC Dubai as a Dry Cargo Ship Broker. Before that, he worked with Interocean Shipping in Delhi. The Western Bulk Panamax division is fully operational with a total of 5 chartering managers across Dubai, Singapore, and Oslo, allowing the company to cover all major basins and actively engage in a diverse array of trades. Mohneesh Bhutani has held the positions as both Head of Panamax and Head of Indian Ocean, but will be fully dedicated to the company’s growth within the Panamax segment as Head of Panamax going forward.
お知らせ • Mar 05Western Bulk Chartering AS Appoints Ørjan Svanevik Interim Chief Executive OfficerThe Board of Directors of Western Bulk Chartering AS announced the appointment of Board member Ørjan Svanevik as interim Chief Executive Officer (CEO), effective immediately. Svanevik has been a Board member of the company since August 2023, and will continue to serve as a director in parallel with the interim CEO position. Reference is made to the stock exchange notice 15 February 2024, announcing that Hans Aasnæs will step down from his position as CEO of Western Bulk.
Reported Earnings • Feb 18Full year 2023 earnings released: US$0.47 loss per share (vs US$1.96 profit in FY 2022)Full year 2023 results: US$0.47 loss per share (down from US$1.96 profit in FY 2022). Revenue: US$1.12b (down 31% from FY 2022). Net loss: US$15.6m (down 124% from profit in FY 2022). Revenue is forecast to decline by 104% p.a. on average during the next 3 years, while revenues in the Shipping industry in Europe are expected to remain flat.
New Risk • Feb 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. High level of non-cash earnings (20% accrual ratio). Minor Risks Dividend is not well covered by cash flows (188% cash payout ratio). Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (€74.7m market cap, or US$80.5m).
Valuation Update With 7 Day Price Move • Dec 28Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to €2.22, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Shipping industry in Europe. Total loss to shareholders of 29% over the past year.
お知らせ • Dec 23Western Bulk Chartering AS Provides Earnings Guidance for the Full Year of 2023Western Bulk Chartering AS provided earnings guidance for the full year of 2023. The company is expecting net loss after tax of USD 14 million to USD 16 million for the full year.
お知らせ • Dec 20+ 3 more updatesWestern Bulk Chartering AS, Annual General Meeting, Apr 03, 2024Western Bulk Chartering AS, Annual General Meeting, Apr 03, 2024.
Reported Earnings • Aug 21First half 2023 earnings released: US$0.14 loss per share (vs US$1.11 profit in 1H 2022)First half 2023 results: US$0.14 loss per share (down from US$1.11 profit in 1H 2022). Revenue: US$574.2m (down 35% from 1H 2022). Net loss: US$4.84m (down 113% from profit in 1H 2022). Revenue is expected to fall by 106% p.a. on average during the next 3 years compared to a 6.2% decline forecast for the Shipping industry in Europe.
Board Change • Aug 21No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Reported Earnings • Aug 18First half 2023 earnings released: US$0.14 loss per share (vs US$1.11 profit in 1H 2022)First half 2023 results: US$0.14 loss per share (down from US$1.11 profit in 1H 2022). Revenue: US$574.2m (down 35% from 1H 2022). Net loss: US$4.84m (down 113% from profit in 1H 2022). Revenue is expected to fall by 106% p.a. on average during the next 3 years compared to a 6.3% decline forecast for the Shipping industry in Europe.
New Risk • Aug 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 42% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (42% accrual ratio). Minor Risks Dividend is not well covered by cash flows (189% cash payout ratio). Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (€80.7m market cap, or US$87.8m).
Buying Opportunity • May 10Now 28% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be €4.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 107% per annum. Earnings is also forecast to decline by 48% per annum over the same time period.
Buying Opportunity • Apr 11Now 25% undervalued after recent price dropOver the last 90 days, the stock is down 7.9%. The fair value is estimated to be €4.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 107% per annum. Earnings is also forecast to decline by 48% per annum over the same time period.
Reported Earnings • Mar 18Full year 2022 earnings released: EPS: US$1.96 (vs US$2.41 in FY 2021)Full year 2022 results: EPS: US$1.96 (down from US$2.41 in FY 2021). Revenue: US$1.62b (up 8.6% from FY 2021). Net income: US$66.0m (down 19% from FY 2021). Profit margin: 4.1% (down from 5.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 107% p.a. on average during the next 3 years compared to a 11% decline forecast for the Shipping industry in Europe.
Buying Opportunity • Mar 15Now 20% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be €4.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to decline by 107% per annum. Earnings is also forecast to decline by 48% per annum over the same time period.
お知らせ • Feb 11Western Bulk Chartering AS Declares Quarterly Dividend for the Fourth Quarter 2022, Payable on 22 February, 2023Western Bulk Chartering AS declared a quarterly dividend of NOK 3 per share for the fourth quarter 2022, totaling a dividend of USD 10 million. The ex-dividend date is February 14, 2023, record date is February 15, 2023 and payment date is 22 of February, 2023. Last day including right is February 13, 2023 and approval date is February 9, 2023.
Reported Earnings • Feb 10Full year 2022 earnings releasedFull year 2022 results: Revenue: US$1.62b (up 8.6% from FY 2021). Net income: US$66.0m (down 19% from FY 2021). Profit margin: 4.1% (down from 5.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 137% p.a. on average during the next 2 years compared to a 11% decline forecast for the Shipping industry in Europe.
Board Change • Jan 20No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
お知らせ • Dec 31+ 3 more updatesWestern Bulk Chartering AS to Report Fiscal Year 2022 Results on Feb 09, 2023Western Bulk Chartering AS announced that they will report fiscal year 2022 results on Feb 09, 2023
Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
お知らせ • Oct 21Western Bulk Chartering AS Declares Dividend for the Third Quarter of 2022, Payable on November 2, 2022Western Bulk Chartering AS declared a dividend of USD 10 million based on the company's results for the third quarter of 2022. The dividend of USD 10 million corresponds to a dividend of NOK 100.9 million, or NOK 3.00 per share. The share will trade ex dividend on October 24, 2022, record date is October 25, 2022 and payment date is November 2, 2022.
お知らせ • Aug 16Western Bulk Chartering AS Declares Cash Dividend, Payable on August 25, 2022Based on the strong results for the first half of 2022, Western Bulk Chartering AS hereby declares a quarterly dividend of USD 13 million for the second quarter. Dividend per share is NOK 3.85 at USDNOK 9,95. Ex-date is August 17, 2022. Record date is August 18, 2022. Payment date is August 25, 2022.
Valuation Update With 7 Day Price Move • Jul 29Investor sentiment improved over the past weekAfter last week's 17% share price gain to €5.20, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Shipping industry in Europe.
Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Tord Meling was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
お知らせ • Apr 26+ 1 more updateWestern Bulk Chartering as Provides Earnings Guidance for the Second Quarter of 2022Western Bulk Chartering AS provided earnings guidance for the second quarter of 2022. The company is expecting net profit after tax of USD 7 million to USD 9 million.
お知らせ • Mar 30Western Bulk Chartering AS Provides Earnings Guidance for the First Quarter 2022Western Bulk Chartering AS provided earnings guidance for the first quarter 2022. The company is expecting a record First Quarter 2022 result with net profit after tax of USD 18 million to USD 20 million.
Valuation Update With 7 Day Price Move • Mar 18Investor sentiment improved over the past weekAfter last week's 15% share price gain to €6.80, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 8x in the Shipping industry in Europe.
Valuation Update With 7 Day Price Move • Feb 24Investor sentiment improved over the past weekAfter last week's 18% share price gain to €6.00, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 11x in the Shipping industry in Europe.
Reported Earnings • Feb 18Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: US$1.49b (up 91% from FY 2020). Net income: US$81.0m (up US$77.8m from FY 2020). Profit margin: 5.4% (up from 0.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates.
お知らせ • Feb 18Western Bulk Chartering AS Propose Dividend for 2021The Board of Directors of Western Bulk Chartering AS will propose a dividend for 2021 of USD 65 million to the Annual General Meeting. The dividend is expected to be paid in end of March, following the Annual General Meeting in medio March.