WLD 0.00% 4.5¢ wellard limited

Wellard appoints Brendan Wade as chief operating officer, page-8

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    Have a look at the prospectus - there's an FX risk matrix. It's definitely subject to currency risk given it reports in AUD but has USD sales and USD debt.

    In general, a lower AUD rate is positive for revenue given ~90% of sales are priced in USD. I am unsure if they do any hedging of sales though. Seems unlikely given the nature of the transactions.

    On the flip side, debt is denominated in USD so lower AUD is a negative.

    They assumed 0.75 average rate for their prospectus forecasts - it's been well below this for most of the FY16 financial year, until March when it jumped up to the current 0.76-0.78 range.
 
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