Asia Pacific Wire & Cable Corporation Limited NASDAQ:APWC
APWC Announces Financial Results for the Second Quarter of 2026
Source: Yahoo Finance
Quarterly revenue of $136.6 million, up 4% from Q1 and up 8% from a year ago.
Quarterly operating profit was $3.4 million, up 36% from a year ago.
TAIPEI, Taiwan, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited ("APWC" or the "Company") (NASDAQ: APWC) today announced its financial results for the second quarter ended June 30, 2026.
Quarterly revenue was $136.6 million, up 4% from the previous quarter and up 8% from a year ago.
For the quarter, earnings per share were $0.01, down 80% from the previous quarter and down 67% from a year ago.
Copper unit volume, measured by the tonnage of copper contained in the wire and cable sold, decreased 3% sequentially and decreased 7% from a year ago. This does not include other raw materials, such as aluminum and insulation materials.
Q2 Fiscal 2026 Summary
Q2 Financial Results | |||||||||||||
($ in millions, except earnings per share) |
Q2 FY2026 |
|
Q1 FY2026 |
|
Q2 FY2025 |
|
Q/Q |
Y/Y | |||||
Revenues |
$ |
136.6 |
|
$ |
130.8 |
|
$ |
126.9 |
|
4 |
% |
8 |
% |
Gross profit |
$ |
11.0 |
|
$ |
10.7 |
|
$ |
8.6 |
|
3 |
% |
28 |
% |
Operating expenses |
$ |
7.7 |
|
$ |
7.6 |
|
$ |
6.4 |
|
1 |
% |
20 |
% |
Operating profit |
$ |
3.4 |
|
$ |
3.3 |
|
$ |
2.5 |
|
3 |
% |
36 |
% |
Net income |
$ |
0.8 |
|
$ |
1.4 |
|
$ |
0.6 |
|
(43 |
)% |
33 |
% |
EPS1 |
$ |
0.01 |
|
$ |
0.05 |
|
$ |
0.03 |
|
(80 |
)% |
(67 |
)% |
Revenue by Reportable Segments | |||||||||||||
($ in millions) |
Q2 FY2026 |
|
Q1 FY2026 |
|
Q2 FY2025 |
|
Q/Q |
Y/Y | |||||
North Asia |
$ |
29.5 |
|
$ |
23.9 |
|
$ |
22.8 |
|
23 |
% |
29 |
% |
ROW |
$ |
55.4 |
|
$ |
55.7 |
|
$ |
59.8 |
|
(1 |
)% |
(7 |
)% |
Thailand |
$ |
51.7 |
|
$ |
51.2 |
|
$ |
44.3 |
|
1 |
% |
17 |
% |
Total |
$ |
136.6 |
|
$ |
130.8 |
|
$ |
126.9 |
|
4 |
% |
8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1Basic and diluted earnings per share (EPS) for the three-month periods ended June 30, 2026, March 31, 2026, and June 30, 2025 are calculated based on weighted average common shares outstanding of 41,232,454, 28,382,902, and 20,616,227, respectively. The increase in weighted average shares in 2026 reflects the full-period impact of the new common shares issued in February 2026. Numerators for all periods reflect profit attributable to the equity holders of the parent.
Revenue
Revenue for the second quarter was $136.6 million, representing an 8% year-over-year increase. The growth was largely attributable to the continued rise in international copper prices, alongside the gradual execution and completion of public-sector contracts.
North Asia revenue for the second quarter was $29.5 million, up 29% year over year and 23% sequentially. This growth was largely attributable to the continued upward trend in copper prices, as well as seasonal factors that boosted sales volume compared to the previous quarter.
Thailand's revenue for the second quarter was up 17% year over year and 1% sequentially, reflecting strong execution of public-sector orders and private-sector investment in manufacturing, supported by rising copper prices.
ROW revenue for the second quarter was down 7% from a year ago and 1% sequentially, primarily reflecting temporary market constraints in Singapore. Despite the modest sequential decline, revenue remained relatively stable compared with the previous quarter.
Gross Profit
Gross profit margin for the second quarter was 8.1%, expanding year over year from 6.8% while remaining relatively unchanged compared to the preceding quarter. The year-over-year growth was largely attributable to higher copper prices and robust demand for public sector orders.
Expenses
Total selling, general, and administrative expenses increased 19.5% year over year, primarily due to higher research and development costs and increased selling expenses.
Balance Sheet and Cash Flow
Cash and cash equivalents were $64.6 million, a decrease of $8.6 million from the preceding quarter, primarily reflecting payments made to suppliers.
Trade receivables for the second quarter rose to $112.7 million, up $4.6 million from the preceding quarter, primarily reflecting higher sales revenue driven by elevated copper prices and volume growth.
Inventory of $171.3 million represents an increase of $20.7 million from the preceding quarter. This expansion was mainly attributable to raw material accumulation required to fulfill public-sector contract delivery schedules.
Cash flow from operating activities generated an outflow of $18.0 million in the second quarter, compared to a net inflow of $1.6 million in the prior quarter. The increased cash outflow was primarily driven by higher raw material costs stemming from sustained copper price increases, as well as an inventory build to support the fulfillment of existing customer contracts. Cash inflow from financing activities was $10.5 million for the second quarter, primarily driven by additional short-term borrowings to fund raw material procurement.
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 Corporation Limited
Asia Pacific Wire & Cable Corporation Limited is a holding company incorporated in Bermuda with principal executive offices in Taiwan that operates its business through operating subsidiaries. Through these subsidiaries, the Company is primarily engaged in the manufacture and distribution of enameled wire, power cable, and telecommunications products in Thailand, Singapore, Australia, the People's Republic of China, Hong Kong and certain other markets in the Asia Pacific region. The Company also engages in the distribution of various wire and cable products manufactured by its controlling shareholder, Pacific Electric Wire & Cable Co., Ltd., and certain third parties. The Company also provides project engineering services in the supply, delivery and installation of power cable. The Company's major customers include appliance component manufacturers, electrical contracting firms, state owned entities, and wire and cable dealers and factories.
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 reports that are filed with the Securities and Exchange Commission and available on the 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 applicable securities laws. The Company assumes no duty to update these forward-looking statements.
Investor Relations Contact: |
Pacific Holdings Group |
2901 Dallas Parkway, Suite 360 |
Plano, TX 75093 |
Attn: Paul Weber |
Phone: (469) 797-7191 |
Email: [email protected] |
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||||||||||
CONSOLIDATED INCOME STATEMENTS | |||||||||||||||
(Amounts in thousands of US Dollars, except share data) | |||||||||||||||
| |||||||||||||||
|
For the three months |
|
For the six months | ||||||||||||
|
ended June 30, |
|
ended June 30, | ||||||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 | ||||||||
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) | ||||||||
|
US$'000 |
|
US$'000 |
|
US$'000 |
|
US$'000 | ||||||||
Revenue |
$ |
136,648 |
|
|
$ |
126,906 |
|
|
$ |
267,494 |
|
|
$ |
227,493 |
|
Cost of sales |
|
(125,636 |
) |
|
|
(118,298 |
) |
|
|
(245,808 |
) |
|
|
(215,220 |
) |
Gross profit |
|
11,012 |
|
|
|
8,608 |
|
|
|
21,686 |
|
|
|
12,273 |
|
|
|
|
|
|
|
|
| ||||||||
Other operating income |
|
395 |
|
|
|
192 |
|
|
|
512 |
|
|
|
227 |
|
Selling, general and administrative expenses |
|
(7,687 |
) |
|
|
(6,434 |
) |
|
|
(15,332 |
) |
|
|
(12,860 |
) |
Other operating expenses |
|
(334 |
) |
|
|
51 |
|
|
|
(334 |
) |
|
|
(1 |
) |
Net impairment loss on financial and contract assets |
|
23 |
|
|
|
65 |
|
|
|
152 |
|
|
|
106 |
|
Operating profit |
|
3,409 |
|
|
|
2,482 |
|
|
|
6,684 |
|
|
|
(255 |
) |
|
|
|
|
|
|
|
| ||||||||
Finance costs |
|
(449 |
) |
|
|
(563 |
) |
|
|
(799 |
) |
|
|
(977 |
) |
Finance income |
|
284 |
|
|
|
44 |
|
|
|
303 |
|
|
|
66 |
|
Gain on disposal of investment |
|
(13 |
) |
|
|
— |
|
|
|
1,031 |
|
|
|
— |
|
Exchange gain |
|
230 |
|
|
|
331 |
|
|
|
592 |
|
|
|
605 |
|
Other income |
|
46 |
|
|
|
(92 |
) |
|
|
119 |
|
|
|
106 |
|
Other expense |
|
61 |
|
|
|
(80 |
) |
|
|
(166 |
) |
|
|
(80 |
) |
Profit before tax |
|
3,567 |
|
|
|
2,121 |
|
|
|
7,763 |
|
|
|
(536 |
) |
Income tax expense |
|
(1,370 |
) |
|
|
(762 |
) |
|
|
(2,510 |
) |
|
|
(401 |
) |
Profit for the period |
$ |
2,197 |
|
|
$ |
1,359 |
|
|
$ |
5,253 |
|
|
$ |
(937 |
) |
|
|
|
|
|
|
|
| ||||||||
Attributable to: |
|
|
|
|
|
|
| ||||||||
Equity holders of the parent |
|
781 |
|
|
|
578 |
|
|
|
2,211 |
|
|
|
(901 |
) |
Non-controlling interests |
|
1,416 |
|
|
|
781 |
|
|
|
3,042 |
|
|
|
(36 |
) |
|
|
2,197 |
|
|
|
1,359 |
|
|
|
5,253 |
|
|
|
(937 |
) |
|
|
|
|
|
|
|
| ||||||||
Basic and diluted profit per share |
$ |
0.01 |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
(0.04 |
) |
Basic and diluted weighted average common shares outstanding |
|
41,232,454 |
|
|
|
20,616,227 |
|
|
|
34,863,953 |
|
|
|
20,616,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||||||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||||||||||
(Amounts in thousands of US Dollars, except share data) | |||||||||||||||
|
|
|
|
|
|
|
| ||||||||
|
For the three months |
|
For the six months | ||||||||||||
|
ended June 30, |
|
ended June 30, | ||||||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 | ||||||||
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) | ||||||||
|
US$'000 |
|
US$'000 |
|
US$'000 |
|
US$'000 | ||||||||
Profit for the period |
|
2,197 |
|
|
|
1,359 |
|
|
|
5,253 |
|
|
|
(937 |
) |
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 |
|
(547 |
) |
|
|
8,916 |
|
|
|
(4,745 |
) |
|
|
11,046 |
|
|
|
(547 |
) |
|
|
8,916 |
|
|
|
(4,745 |
) |
|
|
11,046 |
|
Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods: |
|
|
|
|
|
|
| ||||||||
Changes in the fair value of equity instruments measured at FVOCI |
|
63 |
|
|
|
(12 |
) |
|
|
(817 |
) |
|
|
(18 |
) |
Income tax effect |
|
(13 |
) |
|
|
3 |
|
|
|
163 |
|
|
|
4 |
|
|
|
50 |
|
|
|
(9 |
) |
|
|
(654 |
) |
|
|
(14 |
) |
Re-measuring losses on defined benefit plans |
|
12 |
|
|
|
(43 |
) |
|
|
71 |
|
|
|
(54 |
) |
Income tax effect |
|
(2 |
) |
|
|
9 |
|
|
|
(14 |
) |
|
|
11 |
|
|
|
10 |
|
|
|
(34 |
) |
|
|
57 |
|
|
|
(43 |
) |
|
|
|
|
|
|
|
| ||||||||
Other comprehensive income for the year, net of tax |
|
(487 |
) |
|
|
8,873 |
|
|
|
(5,342 |
) |
|
|
10,989 |
|
Total comprehensive income for the period, net of tax |
|
1,710 |
|
|
|
10,232 |
|
|
|
(89 |
) |
|
|
10,052 |
|
Attributable to: |
|
|
|
|
|
|
| ||||||||
Equity holders of the parent |
|
853 |
|
|
|
7,022 |
|
|
|
280 |
|
|
|
7,119 |
|
Non-controlling interests |
|
857 |
|
|
|
3,210 |
|
|
|
(369 |
) |
|
|
2,933 |
|
|
$ |
1,710 |
|
|
$ |
10,232 |
|
|
$ |
(89 |
) |
|
$ |
10,052 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES |
| ||||
CONSOLIDATED BALANCE SHEETS |
| ||||
|
| ||||
|
|
|
|
|
|
|
As of |
|
|
As of |
|
|
US$'000 |
|
|
US$'000 |
|
Assets |
|
|
|
|
|
Current assets |
|
|
|
|
|
Cash and cash equivalents |
64,584 |
|
|
33,163 |
|
Financial assets at fair value through profit or loss |
— |
|
|
61 |
|
Trade receivables |
112,678 |
|
|
103,535 |
|
Other receivables |
227 |
|
|
936 |
|
Contract assets |
11,894 |
|
|
7,748 |
|
Due from related parties |
484 |
|
|
3,905 |
|
Inventories |
171,278 |
|
|
151,515 |
|
Prepayments |
3,491 |
|
|
3,118 |
|
Assets classified as held for sale |
805 |
|
|
782 |
|
Other current assets |
6,192 |
|
|
4,336 |
|
|
371,633 |
|
|
309,099 |
|
Non-current assets |
|
|
|
|
|
Financial assets at fair value through other comprehensive income |
3,301 |
|
|
4,161 |
|
Property, plant and equipment |
51,168 |
|
|
53,683 |
|
Right of use assets |
2,350 |
|
|
2,879 |
|
Investment properties |
512 |
|
|
536 |
|
Intangible assets |
44 |
|
|
65 |
|
Investments in associates |
830 |
|
|
875 |
|
Deferred tax assets |
5,731 |
|
|
6,169 |
|
Other non-current assets |
4,619 |
|
|
4,228 |
|
|
68,555 |
|
|
72,596 |
|
Total assets |
440,188 |
|
|
381,695 |
|
|
|
|
|
|
|
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
CONSOLIDATED BALANCE SHEETS | |||||
| |||||
|
|
|
| ||
|
As of |
|
As of | ||
|
US$'000 |
|
US$'000 | ||
Liabilities |
|
|
| ||
Current liabilities |
|
|
| ||
Interest-bearing loans and borrowings |
58,455 |
|
|
41,828 |
|
Trade and other payables |
54,760 |
|
|
58,184 |
|
Due to related parties |
17,180 |
|
|
9,590 |
|
Financial liabilities at fair value through profit or loss |
56 |
|
|
— |
|
Accruals |
6,060 |
|
|
11,079 |
|
Current tax liabilities |
2,196 |
|
|
644 |
|
Employee benefit liabilities |
1,124 |
|
|
2,507 |
|
Financial lease liabilities |
1,026 |
|
|
1,113 |
|
Other current liabilities |
14,870 |
|
|
6,877 |
|
|
155,727 |
|
|
131,822 |
|
|
|
|
| ||
Non-current liabilities |
|
|
| ||
Interest-bearing loans and borrowings |
— |
|
|
510 |
|
Employee benefit liabilities |
7,621 |
|
|
6,524 |
|
Lease liabilities |
1,038 |
|
|
1,473 |
|
Deferred tax liabilities |
4,511 |
|
|
4,239 |
|
Other non-current liabilities |
828 |
|
|
175 |
|
|
13,998 |
|
|
12,921 |
|
Total liabilities |
169,725 |
|
|
144,743 |
|
|
|
|
| ||
Equity |
|
|
| ||
Issued capital |
413 |
|
|
206 |
|
Additional paid-in capital |
151,973 |
|
|
118,103 |
|
Treasury shares |
(38 |
) |
|
(38 |
) |
Retained earnings |
67,298 |
|
|
65,087 |
|
Other components of equity |
(14,997 |
) |
|
(13,066 |
) |
Equity attributable to equity holders of the parent |
204,649 |
|
|
170,292 |
|
Non-controlling interests |
65,814 |
|
|
66,660 |
|
Total equity |
270,463 |
|
|
236,952 |
|
Total liabilities and equity |
440,188 |
|
|
381,695 |
|
|
|
|
|
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
| |||||||||||||||
|
|
|
|
|
|
|
| ||||||||
|
For the three months |
|
For the six months | ||||||||||||
|
ended June 30, |
|
ended June 30, | ||||||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 | ||||||||
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) | ||||||||
|
US$'000 |
|
US$'000 |
|
US$'000 |
|
US$'000 | ||||||||
Net cash used in operating activities |
$ |
(17,963 |
) |
|
$ |
(15,454 |
) |
|
$ |
(16,392 |
) |
|
$ |
(17,462 |
) |
Net cash used in investing activities |
|
(1,136 |
) |
|
|
(919 |
) |
|
|
(2,066 |
) |
|
|
(2,966 |
) |
Net cash provided by financing activities |
|
10,482 |
|
|
|
11,577 |
|
|
|
51,066 |
|
|
|
19,612 |
|
Effect of exchange rate |
|
(17 |
) |
|
|
1,508 |
|
|
|
(1,187 |
) |
|
|
1,749 |
|
Net decrease in cash and cash equivalents |
|
(8,634 |
) |
|
|
(3,288 |
) |
|
|
31,421 |
|
|
|
933 |
|
Cash and cash equivalents at beginning of period |
|
73,218 |
|
|
|
38,256 |
|
|
|
33,163 |
|
|
|
34,035 |
|
Cash and cash equivalents at end of period |
$ |
64,584 |
|
|
$ |
34,968 |
|
|
$ |
64,584 |
|
|
$ |
34,968 |
|