Board Change • Apr 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Group CEO, MD & Non-Executive Director Robert Spadanuda was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 05
First half 2026 earnings released: EPS: AU$0.004 (vs AU$0.012 loss in 1H 2025) First half 2026 results: EPS: AU$0.004 (up from AU$0.012 loss in 1H 2025). Revenue: AU$75.9m (down 1.9% from 1H 2025). Net income: AU$525.5k (up AU$1.89m from 1H 2025). Profit margin: 0.7% (up from net loss in 1H 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Oct 24
WestStar Industrial Limited, Annual General Meeting, Nov 24, 2025 WestStar Industrial Limited, Annual General Meeting, Nov 24, 2025. Location: at armada auditing, 18 sangiorgio court, osborne park wa 6017, Australia Reported Earnings • Oct 01
Full year 2025 earnings released: AU$0.028 loss per share (vs AU$0.03 profit in FY 2024) Full year 2025 results: AU$0.028 loss per share (down from AU$0.03 profit in FY 2024). Revenue: AU$130.8m (down 36% from FY 2024). Net loss: AU$3.41m (down 204% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 32% per year over the past 5 years. Market cap is less than US$10m (AU$10.6m market cap, or US$6.98m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Reported Earnings • Aug 31
Full year 2025 earnings released: AU$0.028 loss per share (vs AU$0.03 profit in FY 2024) Full year 2025 results: AU$0.028 loss per share (down from AU$0.03 profit in FY 2024). Revenue: AU$130.8m (down 36% from FY 2024). Net loss: AU$3.41m (down 204% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings have declined by 10.0% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 10.0% per year over the past 5 years. Market cap is less than US$10m (AU$10.6m market cap, or US$6.55m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Feb 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (28% accrual ratio). Market cap is less than US$10m (AU$12.9m market cap, or US$8.09m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Oct 26
WestStar Industrial Limited, Annual General Meeting, Nov 26, 2024 WestStar Industrial Limited, Annual General Meeting, Nov 26, 2024. Location: armada audting, 18 sangiorgio court, osborne park wa 6017 Australia Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Group CEO, MD & Non-Executive Director Robert Spadanuda was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
Full year 2024 earnings released: EPS: AU$0.03 (vs AU$0.016 in FY 2023) Full year 2024 results: EPS: AU$0.03 (up from AU$0.016 in FY 2023). Revenue: AU$207.6m (down 32% from FY 2023). Net income: AU$3.29m (up 87% from FY 2023). Profit margin: 1.6% (up from 0.6% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. New Risk • Jun 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (0.4% net profit margin). Shareholders have been diluted in the past year (6.3% increase in shares outstanding). Market cap is less than US$100m (AU$15.9m market cap, or US$10.6m). Reported Earnings • Oct 03
Full year 2023 earnings released: EPS: AU$0.016 (vs AU$0.04 in FY 2022) Full year 2023 results: EPS: AU$0.016 (down from AU$0.04 in FY 2022). Revenue: AU$304.3m (up 67% from FY 2022). Net income: AU$1.76m (down 59% from FY 2022). Profit margin: 0.6% (down from 2.4% in FY 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Sep 30
WestStar Industrial Limited, Annual General Meeting, Nov 10, 2023 WestStar Industrial Limited, Annual General Meeting, Nov 10, 2023. Agenda: To consider election of Directors. Reported Earnings • Sep 01
Full year 2023 earnings released: EPS: AU$0.016 (vs AU$0.04 in FY 2022) Full year 2023 results: EPS: AU$0.016 (down from AU$0.04 in FY 2022). Revenue: AU$305.4m (up 68% from FY 2022). Net income: AU$1.76m (down 59% from FY 2022). Profit margin: 0.6% (down from 2.4% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (AU$23.3m market cap, or US$15.1m). Reported Earnings • Mar 01
First half 2023 earnings released: EPS: AU$0.033 (vs AU$0.02 in 1H 2022) First half 2023 results: EPS: AU$0.033 (up from AU$0.02 in 1H 2022). Revenue: AU$165.4m (up 121% from 1H 2022). Net income: AU$3.68m (up 56% from 1H 2022). Profit margin: 2.2% (down from 3.2% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman Phil Re was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
WestStar Industrial Limited, Annual General Meeting, Nov 29, 2022 WestStar Industrial Limited, Annual General Meeting, Nov 29, 2022, at 10:00 W. Australia Standard Time. Location: Registered Office 52 Hope Valley Road Naval Base Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2022 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to approve adoption of the Remuneration Report; to approve reelection of Mr. Lay Ann Ong as Director; to approve 7.1A mandate; to approve Performance Rights Plan. Reported Earnings • Oct 04
Full year 2022 earnings released: EPS: AU$0.04 (vs AU$0.008 in FY 2021) Full year 2022 results: EPS: AU$0.04 (up from AU$0.008 in FY 2021). Revenue: AU$181.8m (up 153% from FY 2021). Net income: AU$4.31m (up 429% from FY 2021). Profit margin: 2.4% (up from 1.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 01
Full year 2022 earnings released: EPS: AU$0.04 (vs AU$0.008 in FY 2021) Full year 2022 results: EPS: AU$0.04 (up from AU$0.008 in FY 2021). Revenue: AU$182.8m (up 155% from FY 2021). Net income: AU$4.31m (up 429% from FY 2021). Profit margin: 2.4% (up from 1.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman Phil Re was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 04
Full year 2021 earnings released: EPS AU$0.001 (vs AU$0.005 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: AU$71.8m (up 15% from FY 2020). Net income: AU$814.6k (down 76% from FY 2020). Profit margin: 1.1% (down from 5.5% in FY 2020). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Executive Departure • Sep 13
Company Secretary Derek Hall has left the company On the 10th of September, Derek Hall's tenure as Company Secretary ended after 4.2 years in the role. We don't have any record of a personal shareholding under Derek's name. Derek is the only executive to leave the company over the last 12 months. Reported Earnings • Sep 01
Full year 2021 earnings released: EPS AU$0.001 (vs AU$0.005 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: AU$72.2m (up 15% from FY 2020). Net income: AU$814.6k (down 76% from FY 2020). Profit margin: 1.1% (down from 5.5% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Mar 04
WestStar Industrial Limited's Engineering Contractor Business SIMPEC Wins $15 Million Contract with IronMerge JV WestStar Industrial Limited announced that its engineering contractor business SIMPEC has been awarded a new contract for the stage 1 improvement works for Pilgangoora Operations Pty Ltd. Building off the existing Stage 1 (2Mtpa) operation, the $15 Million project awarded to SIMPEC involves a series of works to improve operating time and throughput as part of continuous improvement to operational performance of the processing facility. SIMPEC have been contracted to perform all vertical installation works including, earth works, civils, fabrication, structural, mechanical, piping, tanks, electrical and instrumentation works for the project. All works will be conducted with JV Partner IronMerge. SIMPEC continues to actively tender and remain optimistic with proposals being considered. SIMPEC is well positioned for fiscal year 2021. Announcement • Feb 05
Weststar Industrial Limited Appoints Mr. Daniel Coletta as Joint Company Secretary WestStar Industrial Limited advised that Mr. Daniel Coletta has been appointed as joint Company Secretary. Mr. Coletta will share the Company Secretary duties with Mr. Derek Hall. Reported Earnings • Oct 02
Full year earnings released - EPS AU$0.0046 Over the last 12 months the company has reported total profits of AU$3.46m, up 250% from the prior year. Total revenue was AU$62.5m over the last 12 months, up 118% from the prior year. Profit margins were 5.5%, which is higher than the 3.4% margin from last year. The increase in margin was driven by higher revenue.