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    Marine shipping
Western Bulk Chartering AS

Western Bulk Chartering AS

2.34
USD
+0.14
(+6.36%)
55.47MMarket Cap
Feb 18Next Earn
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
32.21
31.98
23.43
44.26
48.06
33.24
36.84
29.26
- -
Basic EPS, GAAP
0.13
-1.14
0.1
2.41
1.96
-0.46
-0.08
0.16
- -
Free Cash Flow per Basic Share
-0.79
-0.35
-0.34
2.9
1.63
-0.55
-0.19
0.11
- -
Dividend per Share
- -
- -
- -
- -
3.15
0.3
- -
- -
- -
Book Value per Share
0.73
0.48
0.6
1.52
2.03
1.56
1.48
1.51
1.51
Tangible Book Value per Share
0.72
0.48
0.6
1.52
2.03
1.56
1.48
1.51
1.51
Basic Weighted Avg Shares
33
33
33
34
34
34
34
34
34
Sales/Revenue/Turnover
1,070
1,063
779
1,488
1,616
1,118
1,238
984
- -
Operating Margin (%)
0.68
-3.02
0.45
4.22
4
-1.09
-2.94
-5.36
- -
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
4
-38
3
81
66
-16
-3
5
- -
Effective Tax Rate (%)
20.63
- -
4.73
4.53
2.83
- -
- -
9.62
- -
Profit Margin (%)
0.39
-3.57
0.41
5.45
4.08
-1.4
-0.22
0.55
- -
Working Capital
55
17
19
50
68
52
49
47
47
LT Debt
31
- -
- -
- -
- -
- -
- -
- -
- -
Total Equity
24
16
20
51
68
52
50
51
51
Return on Invested Capital (%)
- -
- -
8.14
117.13
98.07
- -
- -
-0.06
- -
Return on Capital (%)
- -
- -
9.93
165.75
108.15
- -
- -
10.99
- -
Return on Common Equity (%)
- -
-189.46
17.9
228.45
110.67
-25.91
-5.38
10.69
- -

Capital Structure

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
34
34
34
Market Capitalization
40
45
55

Working Capital

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
116
103
105
Cash, Cash Equivalents & STI
28
36
30
Accounts Receivable, Net
35
17
25
Inventories
39
43
39
Total Current Liabilities
68
57
58
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
33.06%
2.16%
Free Cash Flow
- -
-274.07%
-159.85%
Net Income, GAAP
- -
381.89%
-295.6%
Sales/Revenue/Turnover
- -
11.82%
-20.56%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1,118
2024
- -
- -
1,238
2025
- -
- -
984

Semi-annual Earnings Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
-0.46
2024
- -
- -
-0.08
2025
- -
- -
0.16

Semi-annual Dividends Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.3
2024
- -
- -
- -
2025
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Torbjørn Gjervik
Full Time Employees
93
Sector
Transportation
Industry
Marine shipping
Address
Henrik Ibsensgt. 100 Oslo PS Norway 0230
IPO Date
Jun 1, 2017
Website
westernbulk.com
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Business
Western Bulk Chartering AS (WEST.OL) operates as a global dry bulk shipping company, chartering and managing a fleet of approximately 120 Supramax, Ultramax, Handysize and Panamax vessels on short- to long-term leases from vessel owners worldwide to transport commodities including coal, minerals, ores, grains, agricultural products, steel products, cement, bauxite, timber, fertilizers and other dry bulk cargoes; the company matches cargo owners such as producers, trading houses and receivers with vessels using advanced risk management, market data analytics and proprietary systems to optimize fleet deployment, voyage efficiency and margins across spot, contract and industrial trades. Western Bulk maintains a diversified customer base exceeding 300 clients with no single customer exceeding 3.2% of revenues, commodity exposure spread across coal (29%), agri/grains (23%), minerals (19%), steel products (10%), cement (8%), fertilizers (6%) and others, and geographic operations spanning Far East (34%), Europe (22%), India (19%), North America (9%), Africa (8%), South America (6%) and Middle East (3%) discharge regions. The company, founded in 1982 and headquartered at Henrik Ibsensgt. 100 in Oslo, Norway, employs 94 staff across 20 nationalities in offices located in Oslo, Singapore, Dubai, Seattle, Santiago and Casablanca, enabling decentralized commercial teams focused on North Atlantic, South Atlantic, Pacific/US West Coast, Indian Ocean, Panamax and period tonnage portfolios alongside freight derivatives trading. In recent developments, Western Bulk restructured operations in 2024 to reduce annual general and administrative expenses by 15% to USD 22 million through redundancies and efficiency measures, improved net time charter results to USD 24.4 million from USD 9.3 million in 2023 despite market volatility and USD 4.2 million provisions for 2025 contracts, appointed Torbjørn Gjervik as chief executive officer in September 2024 succeeding interim leadership, and enhanced data-driven decision-making initiatives integrating chartering, technology and analytics while maintaining a debt-free balance sheet with USD 28.4 million in free cash at year-end. The asset-light model supports a dividend policy targeting 80% of net profits distributed quarterly, with cumulative payouts of USD 114 million since its Euronext Growth Oslo listing in 2021 under majority ownership by Kistefos AS.

Company News

Company News APIChatGPT

  • seekingalpha.com

    Western Bulk Chartering AS (WSSTF) Q4 2025 Earnings Call Prepared Remarks Transcript