Wellard Ltd Turns the Tide with Improved FY2024 Results

Wellard Ltd. (AU:WLD) has released an update.

Wellard Ltd reported a net loss of $0.8 million for FY2024, a significant improvement from the previous year’s $15.5 million loss, thanks to a robust EBITDA of $4.1 million and a strong balance sheet with negative net debt of $8.5 million. The company successfully sold its MV Ocean Ute for $12.0 million, with plans to return most of the proceeds to shareholders. Wellard is entering FY2025 with a full charter book for their largest vessel, a positive indication for future performance.

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