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Asia Pacific Wire & Cable Corporation Limited (APWC)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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3.0000+0.0200 (+0.67%)
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Neutralpattern detected
Previous Close2.9800
Open3.0000
Bid2.9300 x 3000
Ask3.0300 x 1000
Day's Range2.9800 - 3.0300
52 Week Range1.1500 - 8.8000
Volume2,040
Avg. Volume46,514
Market Cap41.459M
Beta (5Y Monthly)0.88
PE Ratio (TTM)N/A
EPS (TTM)-0.0400
Earnings DateJan 04, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateSep 13, 2018
1y Target EstN/A
  • GlobeNewswire

    Asia Pacific Wire & Cable Corporation Ltd. Announces Plans for Rights Offering to Shareholders

    Taipei, Taiwan, July 16, 2021 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (Nasdaq: APWC) (the “Company”), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced that it has filed a Registration Statement on Form F-1 (the “Registration Statement”) with the Securities and Exchange Commission for a rights offering to holders of its common shares. The purpose of the rights offering i

  • GlobeNewswire

    Asia Pacific Wire & Cable Corporation Ltd. Reports Full Year 2020 Financial Results

    TAIPEI, Taiwan, April 30, 2021 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the twelve months ended December 31, 2020. Unless otherwise indicated, all data are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported. Full Year 2020 Financial Results (Ended December 31, 2020), and 2019 comparative results Full Year 2020Full Year 2019CHANGERevenues$313.6 million$338.2 million(7.3)%Operating Profit/(Loss)$7.6 million$(0.6) million1,264%Net Income/(Loss)$(0.6) million$(1.6) million66.2%EPS(1)$(0.04)$(0.12)66.7% (1)The calculation of the earnings per share is based on 13,819,669 and 13,819,669 basic and diluted weighted average common shares issued and outstanding for the twelve months ended December 31, 2020 and 2019, respectively. Full Year 2020 Results Revenues for the twelve months ended December 31, 2020, were $313.6 million, a decrease of 7.3% from $338.2 million for the twelve months ended December 31, 2019. The decrease was primarily attributable to revenue decreases in the Company’s Thailand and North Asia regions, partially offset by increased revenue in the Company’s Rest of World (“ROW”) region. Net revenue in the Company’s Thailand region decreased by 16.7%, primarily due to decreased sales of low margin products. Revenues in the Company's North Asia region decreased by 4.4%, primarily due to the cessation of manufacturing operations of Shanghai Asia Pacific Electric Co., Ltd. (“Yayang”) in October 2019. Revenues in the Company's ROW region increased by 8.4%, primarily attributable to abating competition for reasons associated with COVID-19. The Company's North Asia region includes China and Hong Kong; the Thailand region consists of operations and sales within Thailand; the ROW region includes Singapore, Australia and the other markets where APWC has operations or sales outside of the Thailand region and North Asia region. Operating profit for the twelve months ended December 31, 2020 increased to $7.6 million from a loss of $(0.6) million for the twelve months ended December 31, 2019. Operating profit margin increased from a loss of (0.2)% in 2019 to a profit of 2.4% in 2020. In the Thailand region, operating profit margin increased from 1.8% to 7.8%, which was attributable primarily to an improvement in sales mix. In the North Asia region, operating profit margin increased from 1.6% in 2019 to 4.2% for the same period in 2020, primarily attributable to an improvement in sales mix and a reduction in severance expenses. The ROW region’s operating loss margin widened from (1.9)% in 2019 to (4.6)% in 2020, primarily attributable to reasons associated with COVID-19. Selling, general and administrative expenses for the twelve months ended December 31, 2020 were $27 million, compared to $25.1 million reported for the twelve months ended December 31, 2019. Net loss attributable to APWC shareholders was $(0.6) million for the full year 2020, compared to a net loss of $(1.6) million for the full year 2019. The decrease in net loss was primarily due to an increase in operating profit. The weighted average number of shares issued and outstanding was 13.82 million for the twelve months ended December 31, 2020 and 2019. Financial Condition APWC reported $52.2 million in cash and cash equivalents as of December 31, 2020, compared to cash and cash equivalents of $53.7 million as of December 31, 2019. Current assets totaled $263.7 million as of December 31, 2020, compared to $239.5 million as of December 31, 2019. Working capital was $180.3 million as of December 31, 2020. Short term bank loans were $10.1 million at December 31, 2020, a decrease from $11.4 million at the end of 2019. The Company had $3.7 million in long-term debt outstanding at December 31, 2020, compared to $0.0 in long-term debt as of December 31, 2019. Shareholder's equity attributable to APWC was $157.9 million as of December 31, 2020, compared to $153.9 million as of December 31, 2019. APWC reported $16.4 million in cash generated from operations during the twelve months ended December 31, 2020, compared to cash generated from operations of $15.1 million in the corresponding period in 2019. The increase in cash generated from operations in 2020 was primarily attributable to improved product margins. The Company reported $20.3 million in cash outflows from investing activities during the twelve months ended December 31, 2020, compared to $6.4 million in cash outflows in the same period of 2019. The increase in cash used in investing activities in the full year of 2020 was attributable primarily to the increase in purchases of property, plant and equipment. APWC reported $2.1 million in cash inflows from financing activities during the full year of 2020, compared to $17.9 million in cash outflows from financing activities in the same period of 2019. The cash inflows in 2020 were primarily attributable to an increase in borrowings. We encourage shareholders to review our Annual Report for the year ended December 31, 2020, which has been filed with the Securities and Exchange Commission, and to visit the Company's website for further information (www.apwcc.com). Information on the Company's website or any other website does not constitute a portion of this release. About Asia Pacific Wire & Cable Corporation Asia Pacific Wire & Cable Corporation is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products manufactured by its principal shareholder, Pacific Electric Wire & Cable Company, a Taiwanese company. The Company also provides project engineering services in the supply, delivery and installation ("SDI") of power cables to certain of its customers. Safe Harbor Statement This release contains certain "forward-looking statements" relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "anticipates", "expects", “estimates”, “intends”, “plans” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements. Contact:Investor Relations Contact:Skyline Corporate Communications Group, LLCLisa Gray, Senior Account ManagerOne Rockefeller Plaza, 11th FloorNew York, NY 10020Office: (646) 893-5835Email: lisa@skylineccg.com

  • GlobeNewswire

    Asia Pacific Wire & Cable Corporation Ltd. Reports Third Quarter 2020 Financial Results

    TAIPEI, Taiwan, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the nine months ended September 30, 2020. Unless otherwise indicated, all data are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported. First Nine Months 2020 Financial Results (Ended September 30, 2020), and 2019 comparative results    First 9 Months 2020First 9 Months 2019CHANGE Revenues$207.2 million$249.7 million(17.0)% Operating Profit/(Loss)$5.9 million$(3.1) million294.5% Net Income/(Loss)$0.4 million$(2.0) million118.1% EPS(1)$0.03$(0.14)121.4%   (1)The calculation of the earnings per share is based on 13,819,669 and 13,819,669 basic and diluted weighted average common shares issued and outstanding for the nine months ended September 30, 2020 and 2019, respectively. First Nine Months 2020 Results Revenues for the nine months ended September 30, 2020, were $207.2 million, a decrease of 17.0% from $249.7 million for the nine months ended September 30, 2019.  The decrease was primarily attributable to revenue decreases in the Company’s Thailand, North Asia, and Rest of World (“ROW”) regions. Net revenue in the Company’s Thailand region decreased by 21.8%, primarily due to decreased sales of low margin products. Revenues in the Company's North Asia region decreased by 16.0%, primarily due to the cessation of manufacturing operations of Shanghai Asia Pacific Electric Co., Ltd. (“Yayang”) in October 2019. Revenues in the Company's Rest of World ("ROW") region decreased by 8.7%, primarily due to Singapore not reaching full resumption of work for reasons associated with COVID-19. The Company's North Asia region includes China and Hong Kong; the Thailand region consists of operations and sales within Thailand; the ROW region includes Singapore, Australia and the other markets where APWC has operations or sales outside of the Thailand region and North Asia region.Operating profit for the nine months ended September 30, 2020 increased to $5.9 million from a loss of $(3.1) million for the nine months ended September 30, 2019.  Operating profit margin increased from a loss of (1.2)% in 2019 to a profit of 2.9% in 2020.  In the Thailand region, operating profit margin increased from a loss of (0.4)% to a profit of 7.6%, which was attributable primarily to the increase in sales of higher profit margin products. In the North Asia region, operating profit margin increased from 0.9% in 2019 to 3.8% for the same period in 2020, primarily attributable to a decrease in lower margin products and severance expenses. The ROW region’s operating loss margin decreased from (2.8)% in 2019 to (2.3)% in 2020, primarily attributable to abating competition for reasons associated with COVID-19.Selling, general and administrative expenses for the nine months ended September 30, 2020 were $18.2 million, compared to $19.0 million reported for the nine months ended September 30, 2019.  Net income attributable to APWC shareholders was $0.4 million for the first nine months of 2020, compared to a net loss of $(2.0) million for the same period in 2019.  The increase in net income was primarily due to an increase in gross profit. The weighted average number of shares issued and outstanding was 13.82 million for the nine months ended September 30, 2020 and 2019.Financial ConditionAPWC reported $44.6 million in cash and cash equivalents as of September 30, 2020, compared to cash and cash equivalents of $53.7 million as of December 31, 2019.Current assets totaled $237.2 million as of September 30, 2020, compared to $239.5 million as of December 31, 2019.  Working capital was $173.2 million as of September 30, 2020.  Short term bank loans were $12.9 million at September 30, 2020, an increase from $11.4 million at the end of 2019.  The Company had $3.4 million in long-term debt outstanding at September 30, 2020, compared to $0.0 in long-term debt as of December 31, 2019. Shareholder's equity attributable to APWC was $150.3 million as of September 30, 2020, compared to $153.9 million as of December 31, 2019.APWC reported $6.3 million in cash generated from operations during the nine months ended September 30, 2020, compared to cash used in operations of $2.0 million in the corresponding period in 2019. The increase in cash generated from operations in 2020 was primarily attributable to improved product margin. The Company reported $19.3 million in cash outflows from investing activities during the nine months ended September 30, 2020, compared to $2.9 million in cash outflows in the same period of 2019. The increase in cash used for investing activities in the first nine months of 2020 was attributable primarily to the increase in purchases of property, plant and equipment. APWC reported $6.0. million in cash inflows from financing activities during the first nine months of 2020, compared to $6.5 million in cash outflows from financing activities in the same period of 2019. The cash inflows in 2020 was primarily attributable to an increase in borrowing.We encourage shareholders to visit the Company's website for further information (www.apwcc.com). Information on the Company's website or any other website does not constitute a portion of this release.About Asia Pacific Wire & Cable CorporationAsia Pacific Wire & Cable Corporation is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products manufactured by its principal shareholder, Pacific Electric Wire & Cable Company, a Taiwanese company. The Company also provides project engineering services in the supply, delivery and installation ("SDI") of power cables to certain of its customers.Safe Harbor StatementThis release contains certain "forward-looking statements" relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "anticipates", "expects", “estimates”, “intends”, “plans” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.Contact: Investor Relations Contact: Skyline Corporate Communications Group, LLC Lisa Gray, Senior Account Manager One Rockefeller Plaza, 11th Floor New York, NY 10020 Office: (646) 893-5835 Email: lisa@skylineccg.com  ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS (Unaudited) (Amounts in thousands of US Dollars, except share data)           For the nine months    ended Sept 30,     2020    2019       (Unaudited)  (Unaudited) Revenue$207,204  $249,659  Cost of sales (183,197)  (234,585) Gross profit 24,007   15,074         Other operating income 450   950  Selling, general and administrative expenses (18,176)  (19,025) Other operating expenses (344)  (52) Operating profit / (loss)                 5,937   (3,053)        Finance costs (563)  (821) Finance income 228   393  Share of loss of associates (1)  (2) Exchange loss (637)  1,543  Other income 919   644  Other expense -   (1) Profit before tax                 5,883   (1,297) Income tax expense (2,647)  (964) Profit/(Loss) for the period$3,236  $(2,261)        Attributable to:    Equity holders of the parent$357  $(1,974) Non-controlling interests$2,879  $(287) Basic and diluted profit / (loss) per share$0.03  $(0.14) Basic and diluted weighted average common shares outstanding 13,819,669   13,819,669           ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Amounts in thousands of US Dollars, except share data)           For the nine months    ended Sept 30,     2020    2019       (Unaudited)  (Unaudited) Profit/(Loss) for the period$3,236  $(2,261) Other comprehensive income    Other comprehensive income to be reclassified to profit or loss in subsequent periods:     Exchange differences on translation of foreign operations, net of tax of nil (7,268)  4,721     (7,268)  4,721  Other comprehensive income not to be reclassified to profit or loss in subsequent periods:     Changes in the fair value of equity instruments measured at FVOCI (1,565)  425   Income tax effect 313   (85)    (1,252)  340   Re-measuring losses on defined benefit plans 227   (135)  Income tax effect (45)  27     182   (108)        Other comprehensive (loss) / income for the year , net of tax (8,338)  4,953  Total comprehensive (loss) / income for the period, net of tax (5,102)  2,692  Attributable to:    Equity holders of the parent (3,559)  (791) Non-controlling interests (1,543)  3,483     $(5,102) $2,692             ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands of US Dollars, except share data)       As of Sept 30, 2020 (Unaudited) As of December 31, 2019 (Audited)      Assets    Current assets    Cash and cash equivalents$44,584 $53,673 Trade receivables 66,626  74,077 Other receivables 9,692  6,868 Contract assets 1,795  4,686 Due from related parties 10,471  11,566 Inventories 98,214  85,187 Prepayments 3,861  1,926 Other current assets 1,958  1,521   237,201  239,504 Non-current assets    Financial assets at fair value through other comprehensive income 2,454  4,062 Property, plant and equipment 47,370  41,747 Right of use assets 3,368  3,735 Prepaid land lease payments -  - Investment properties 5,866  730 Intangible assets 187  128 Investments in associates accounted from using equity method 881  935 Deferred tax assets 4,207  3,939 Other non-current assets 3,966  4,131   68,299  59,407 Total assets$305,500 $298,911        ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands of US Dollars, except share data)       As of Sept 30, 2020 (Unaudited) As of December 31, 2019 (Audited) Liabilities    Current liabilities    Interest-bearing loans and borrowings$12,872  11,356  Trade and other payables 18,737  16,879  Due to related parties 10,731  3,284  Financial liabilities at fair value through profit or loss -  3  Accruals 12,458  14,437  Current tax liabilities 3,330  2,872  Employee benefit liabilities 2,101  1,888  Financial lease liabilities 564  574  Other current liabilities 3,196  2,356    63,989  53,649       Non-current liabilities    Interest-bearing loans and borrowings 3,400  -  Employee benefit liabilities 9,943  10,434  Financial lease liabilities 1,825  2,254  Deferred tax liabilities 4,217  4,139    19,385  16,827  Total liabilities 83,374  70,476       Equity    Issued capital 138  138  Additional paid-in capital 110,416  110,416  Treasury shares (38) (38) Retained earnings 53,741  53,384  Other components of equity (13,962) (10,046) Equity attributable to equity holders of the parent 150,295  153,854  Non-controlling interests 71,831  74,581  Total equity$222,126  228,435  Total liabilities and equity$305,500  298,911                       ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands of U.S. Dollars)       For the years       ended Sept 30,       2020   2019     (Unaudited) (Unaudited)   Net cash provided by / (used in) operating activities                                                                                                                                                                                                $6,258 $(2,025) Net cash used in investing activities (19,335) (2,945) Net cash (used in) financing activities                   5,973  (6,476) Effect of exchange rate on cash and cash equivalents (1,985) 1,414  Net decrease in cash and cash equivalents (9,089) (10,032) Cash and cash equivalents at beginning of period 53,673  60,778  Cash and cash equivalents at end of period                                                                                                             $44,584 $50,746