APWC Announces Financial Results for the Fourth Quarter of 2025 and Fiscal Year 2025
Rhea-AI Summary
Asia Pacific Wire & Cable Corporation (NASDAQ: APWC) reported Q4 2025 revenue of $133.8M (4% sequential, -2% YoY) and FY2025 revenue of $489.7M (+4% YoY). FY2025 EPS was $0.18 (+6% YoY); Q4 EPS was $0.17 (+31% YoY). Gross profit for Q4 was $11.0M (8.2% margin). Cash and equivalents were $33.2M; inventory rose to $151.5M. The company recorded a one-time $0.7M gain on investment disposal and filed its 2025 Form 20-F with the SEC.
Positive
- FY2025 revenue +4% to $489.7M
- FY2025 EPS +6% to $0.18
- Q4 EPS +31% year-over-year to $0.17
- North Asia revenue +19% in FY2025
Negative
- Q4 gross margin down to 8.2% (from 9.1% a year ago)
- FY2025 operating profit down 36% to $6.4M
- Inventory increased $24.7M to $151.5M
News Market Reaction – APWC
In the Apr 29 session, APWC declined 0.63%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 14 | Q3 2025 earnings | Positive | -2.1% | Q3 2025 revenue and EPS growth with stronger operating profit and margins. |
| Aug 14 | Q2 2025 earnings | Positive | +13.4% | Strong Q2 2025 revenue growth, EPS expansion, and margin improvement across segments. |
| Apr 02 | FY 2024 results | Neutral | +1.3% | Full-year 2024 revenue and operating profit growth offset by lower net income and EPS. |
| Dec 02 | Q3 2024 results | Negative | -8.9% | Nine‑month 2024 revenue growth but declining net income and EPS despite higher operating profit. |
| Aug 26 | Q2 2024 results | Negative | -7.5% | First‑half 2024 revenue increase and operating improvement alongside a swing to net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have usually led to price moves broadly aligned with the tone of results, though the most recent Q3 2025 report saw a negative reaction despite positive metrics.
Over the past two years, APWC’s earnings and annual results have shown consistent revenue growth, but profitability and margins have fluctuated. Events like Q2 2025 drove a strong positive reaction, while Q3 2024 and some 2024 updates saw selling pressure despite operational improvement. Today’s Q4/FY 2025 report continues themes of modest revenue and EPS growth offset by margin pressure and higher operating expenses, fitting into a pattern where investors react to the balance between growth and profitability.
Key Terms
form 20-f regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Quarterly revenue of
$133.8 million , up4% from Q3 - Full Year EPS was
$0.18 , up6% from prior year
TAIPEI, Taiwan, April 29, 2026 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited ("APWC" or the "Company") (NASDAQ: APWC) today announced its financial results for the fourth quarter and full year ended December 31, 2025 and the April 29, 2026 filing with the U.S. Securities and Exchange Commission (“SEC”) of its annual report on Form 20-F for the year ended December 31, 2025 (the “2025 Annual Report”).
Quarterly revenue was
For fiscal year 2025, revenue was
For the quarter, earnings per share were
Copper unit volume, measured by the tonnage of copper contained in the wire and cable sold, decreased
Q4 Fiscal Year 2025 Summary
| Q4 Financial Results | |||||||||||||||||
| ($ in millions, except earnings per share) | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Q/Q | Y/Y | ||||||||||||
| Revenues | $ | 133.8 | $ | 128.4 | $ | 136.1 | 4 | % | (2 | )% | |||||||
| Gross profit | $ | 11.0 | $ | 11.1 | $ | 12.4 | (1 | )% | (11 | )% | |||||||
| Operating expenses | $ | 8.3 | $ | 7.3 | $ | 6.8 | 14 | % | 22 | % | |||||||
| Operating profit | $ | 2.8 | $ | 3.8 | $ | 5.5 | (26 | )% | (49 | )% | |||||||
| Net income | $ | 3.5 | $ | 1.1 | $ | 2.6 | 218 | % | 35 | % | |||||||
| EPS | $ | 0.17 | $ | 0.05 | $ | 0.13 | 240 | % | 31 | % | |||||||
| Revenue by Reportable Segments | |||||||||||||||||
| ($ in millions) | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Q/Q | Y/Y | ||||||||||||
| North Asia | $ | 23.3 | $ | 21.3 | $ | 20.4 | 9 | % | 14 | % | |||||||
| ROW | $ | 64.6 | $ | 56.8 | $ | 71.5 | 14 | % | (10 | )% | |||||||
| Thailand | $ | 45.9 | $ | 50.3 | $ | 44.2 | (9 | )% | 4 | % | |||||||
| Total | $ | 133.8 | $ | 128.4 | $ | 136.1 | 4 | % | (2 | )% | |||||||
Revenue
Revenue for the fourth quarter was
North Asia revenue for the fourth quarter was
Thailand revenue for the fourth quarter was up
ROW revenue rose to
Gross Profit
Gross profit margin for the fourth quarter was
Expenses
Total selling, general, and administrative expenses increased
Non-Operating Items
During the quarter, the Company recorded a one-time gain of approximately
Net Income
Net income increased by
Balance Sheet and Cash Flow
Cash and cash equivalents were
Trade receivables for the fourth quarter rose to
Inventory was
Cash flow from operating activities saw an outflow of
Fiscal Year 2025 Summary
| 2025 Financial Results | ||||||||||
| ($ in millions, except earnings per share) | FY2025 | FY2024 | Y/Y | |||||||
| Revenues | $ | 489.7 | $ | 472.7 | 4 | % | ||||
| Gross profit | $ | 34.4 | $ | 35.1 | (2 | )% | ||||
| Operating expenses | $ | 28.5 | $ | 25.9 | 10 | % | ||||
| Operating profit | $ | 6.4 | $ | 10.0 | (36 | )% | ||||
| Net income | $ | 3.7 | $ | 3.5 | 6 | % | ||||
| EPS | $ | 0.18 | $ | 0.17 | 6 | % | ||||
| Revenue by Reportable Segments | ||||||||||
| ($ in millions) | FY2025 | FY2024 | Y/Y | |||||||
| North Asia | $ | 86.3 | $ | 72.6 | 19 | % | ||||
| ROW | $ | 226.5 | $ | 227.3 | — | % | ||||
| Thailand | $ | 176.9 | $ | 172.8 | 2 | % | ||||
| Total | $ | 489.7 | $ | 472.7 | 4 | % | ||||
Revenue
Fiscal year 2025 revenue was
North Asia revenue for 2025 was
Thailand revenue for 2025 was
ROW revenue for 2025 was
Gross Profit
Fiscal year 2025 gross profit margin decreased by
Expenses
Total selling, general, and administrative expenses increased
Net Income
Net income increased by
Balance Sheet and Cash Flow
Cash and cash equivalents for 2025 were
Trade receivables for 2025 were
Inventory for 2025 was
Cash flow from operating activities saw an outflow of
We encourage shareholders to review our 2025 Annual Report filed with the SEC, 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 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 subsidiaries 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 certain 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 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.
| Investor Relations Contact: |
| Pacific Holdings Group |
| 2901 Dallas Parkway, Suite 360 |
| Plano, TX 75093 |
| Attn: Paul Weber |
| Phone: (469) 797-7191 |
| Email: pweber@pusa.com |
| 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 twelve months | ||||||||||||||
| ended December 31, | ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | (Audited) | (Audited) | ||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||
| Revenue | $ | 133,787 | $ | 136,109 | $ | 489,679 | $ | 472,672 | |||||||
| Cost of sales | (122,761 | ) | (123,749 | ) | (455,252 | ) | (437,577 | ) | |||||||
| Gross profit | 11,026 | 12,360 | 34,427 | 35,095 | |||||||||||
| Other operating income | 211 | 198 | 593 | 1,365 | |||||||||||
| Selling, general and administrative expenses | (8,340 | ) | (6,810 | ) | (28,502 | ) | (25,855 | ) | |||||||
| Other operating expenses | — | (12 | ) | (1 | ) | (12 | ) | ||||||||
| Net impairment loss on financial and contract assets | (65 | ) | (205 | ) | (140 | ) | (585 | ) | |||||||
| Operating profit | 2,832 | 5,531 | 6,377 | 10,008 | |||||||||||
| Finance costs | (407 | ) | (476 | ) | (1,913 | ) | (2,304 | ) | |||||||
| Finance income | 38 | 45 | 145 | 208 | |||||||||||
| Share of loss of associates | (1 | ) | — | (2 | ) | (2 | ) | ||||||||
| Gain on disposal of investment | 662 | — | 662 | — | |||||||||||
| Exchange gain/(loss) | 187 | (41 | ) | 861 | 823 | ||||||||||
| Other income | 335 | 452 | 587 | 878 | |||||||||||
| Other expense | 31 | 41 | — | (234 | ) | ||||||||||
| Profit before tax | 3,677 | 5,552 | 6,717 | 9,377 | |||||||||||
| Income tax expense | (14 | ) | (1,456 | ) | (1,503 | ) | (2,809 | ) | |||||||
| Profit for the period | $ | 3,663 | $ | 4,096 | $ | 5,214 | $ | 6,568 | |||||||
| Attributable to: | |||||||||||||||
| Equity holders of the parent | 3,510 | 2,588 | 3,670 | 3,486 | |||||||||||
| Non-controlling interests | 153 | 1,508 | 1,544 | 3,082 | |||||||||||
| 3,663 | 4,096 | 5,214 | 6,568 | ||||||||||||
| Basic and diluted profit per share | $ | 0.17 | $ | 0.13 | $ | 0.18 | $ | 0.17 | |||||||
| Basic and diluted weighted average common shares outstanding | 20,616,227 | 20,616,227 | 20,616,227 | 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 twelve months | ||||||||||||||
| ended December 31, | ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | (Audited) | (Audited) | ||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||
| Profit for the period | 3,663 | 4,096 | 5,214 | 6,568 | |||||||||||
| Other comprehensive income | |||||||||||||||
| Cumulative translation differences reclassified to profit or loss on liquidation of a subsidiary | — | — | — | — | |||||||||||
| 4,454 | (14,432 | ) | 16,195 | (5,459 | ) | ||||||||||
| 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 | 473 | (457 | ) | 1,013 | (67 | ) | |||||||||
| Income tax effect | (96 | ) | 93 | (204 | ) | 15 | |||||||||
| 377 | (364 | ) | 809 | (52 | ) | ||||||||||
| Re-measuring losses on defined benefit plans | (350 | ) | (353 | ) | (410 | ) | (390 | ) | |||||||
| Income tax effect | 70 | 71 | 82 | 78 | |||||||||||
| (280 | ) | (282 | ) | (328 | ) | (312 | ) | ||||||||
| Other comprehensive income for the year, net of tax | 4,551 | (15,078 | ) | 16,676 | (5,823 | ) | |||||||||
| Total comprehensive income for the period, net of tax | 8,214 | (10,982 | ) | 21,890 | 745 | ||||||||||
| Attributable to: | |||||||||||||||
| Equity holders of the parent | 6,523 | (8,749 | ) | 15,334 | (2,101 | ) | |||||||||
| Non-controlling interests | 1,691 | (2,233 | ) | 6,556 | 2,846 | ||||||||||
| $ | 8,214 | $ | (10,982 | ) | $ | 21,890 | $ | 745 | |||||||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| As of December 31, 2025 (Audited) | As of December 31, 2024 (Audited) | ||||
| US$'000 | US$'000 | ||||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | 33,163 | 34,035 | |||
| Financial assets at fair value through profit or loss | 61 | — | |||
| Trade receivables | 103,535 | 102,789 | |||
| Other receivables | 936 | 1,257 | |||
| Contract assets | 7,748 | 688 | |||
| Due from related parties | 3,905 | 607 | |||
| Inventories | 151,515 | 126,814 | |||
| Prepayments | 3,118 | 3,195 | |||
| Assets classified as held for sale | 782 | 747 | |||
| Other current assets | 4,336 | 1,529 | |||
| 309,099 | 271,661 | ||||
| Non-current assets | |||||
| Financial assets at fair value through other comprehensive income | 4,161 | 3,069 | |||
| Property, plant and equipment | 53,683 | 52,227 | |||
| Right of use assets | 2,879 | 2,420 | |||
| Investment properties | 536 | 504 | |||
| Intangible assets | 65 | 110 | |||
| Investments in associates | 875 | 807 | |||
| Deferred tax assets | 6,169 | 6,684 | |||
| Other non-current assets | 4,228 | 2,378 | |||
| 72,596 | 68,199 | ||||
| Total assets | 381,695 | 339,860 | |||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||
| CONSOLIDATED BALANCE SHEETS | |||||
| As of December 31, 2025 (Audited) | As of December 31, 2024 (Audited) | ||||
| US$'000 | US$'000 | ||||
| Liabilities | |||||
| Current liabilities | |||||
| Interest-bearing loans and borrowings | 41,828 | 24,098 | |||
| Trade and other payables | 58,184 | 57,220 | |||
| Due to related parties | 9,590 | 9,715 | |||
| Financial liabilities at fair value through profit or loss | — | 21 | |||
| Accruals | 11,079 | 8,246 | |||
| Current tax liabilities | 644 | 1,624 | |||
| Employee benefit liabilities | 2,507 | 2,178 | |||
| Financial lease liabilities | 1,113 | 648 | |||
| Other current liabilities | 6,877 | 4,272 | |||
| 131,822 | 108,022 | ||||
| Non-current liabilities | |||||
| Interest-bearing loans and borrowings | 510 | 4,872 | |||
| Employee benefit liabilities | 6,524 | 5,908 | |||
| Lease liabilities | 1,473 | 1,425 | |||
| Deferred tax liabilities | 4,239 | 4,079 | |||
| Other non-current liabilities | 175 | 189 | |||
| 12,921 | 16,473 | ||||
| Total liabilities | 144,743 | 124,495 | |||
| Equity | |||||
| Issued capital | 206 | 206 | |||
| Additional paid-in capital | 118,103 | 118,103 | |||
| Treasury shares | (38 | ) | (38 | ) | |
| Retained earnings | 65,087 | 61,417 | |||
| Other components of equity | (13,066 | ) | (24,730 | ) | |
| Equity attributable to equity holders of the parent | 170,292 | 154,958 | |||
| Non-controlling interests | 66,660 | 60,407 | |||
| Total equity | 236,952 | 215,365 | |||
| Total liabilities and equity | 381,695 | 339,860 | |||
| ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
| For the three months | For the twelve months | ||||||||||||||
| ended December 31, | ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | (Audited) | (Audited) | ||||||||||||
| US$'000 | US$'000 | US$'000 | US$'000 | ||||||||||||
| Net cash (used in)/provided by operating activities | $ | (1,878 | ) | $ | 21,449 | $ | (7,755 | ) | $ | 24,300 | |||||
| Net cash used in investing activities | (309 | ) | (1,165 | ) | (4,267 | ) | (3,373 | ) | |||||||
| Net cash (used in)/provided by financing activities | (281 | ) | (18,839 | ) | 9,069 | (24,258 | ) | ||||||||
| Effect of exchange rate | 357 | (1,813 | ) | 2,081 | (604 | ) | |||||||||
| Net decrease in cash and cash equivalents | (2,111 | ) | (368 | ) | (872 | ) | (3,935 | ) | |||||||
| Cash and cash equivalents at beginning of period | 35,274 | 34,403 | 34,035 | 37,970 | |||||||||||
| Cash and cash equivalents at end of period | $ | 33,163 | $ | 34,035 | $ | 33,163 | $ | 34,035 | |||||||
