Asia Pacific Wir Stock Price, News & Analysis

Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported its financial results for the year ended December 31, 2022, with revenues of $433.9 million, a 9.0% decrease from $476.7 million in 2021. The decline was largely driven by reduced sales in Thailand and North Asia. Operating profit was $8.1 million, a turnaround from a loss of $5.0 million in 2021, with an improved operating profit margin of 1.9%. Net income rose to $3.9 million, compared to a net loss of $2.6 million the previous year. Cash and cash equivalents increased to $54.0 million, up from $44.5 million. APWC experienced challenges including a 13.1% revenue drop in Thailand and a 27.8% decrease in North Asia, impacted by geopolitical tensions and supply chain issues. The company saw better performance in its Rest of the World region with a 7.5% revenue growth.

Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported financial results for the nine months ending September 30, 2022. Revenues decreased by 6.0% to $310.7 million, primarily due to declines in Thailand and North Asia regions. Operating profit fell 41.5% to $3.8 million, with a margin decrease to 1.23%. Net income improved to $0.6 million from a net loss of $1.4 million in 2021. The company saw cash reserves rise to $47.5 million and reported $5.7 million in cash from operating activities, a significant recovery.

Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported a decline in revenues for the first six months of 2022, totaling $207.4 million, down 8.0% from $225.3 million in 2021. This drop was driven mainly by reduced sales in the Thailand and North Asia regions, adversely affected by economic conditions and currency depreciation. The company faced an operating profit of $1.8 million, a decrease of 63.4%, leading to a net loss of $0.3 million. Cash and cash equivalents remained stable at $44.6 million, with a working capital of $160.4 million as of June 30, 2022.

Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported financial results for the six months ending June 30, 2022, showing revenues of $207.4 million, down 8.0% from $225.3 million in the previous year, mainly due to declines in Thailand and North Asia. Operating profit fell 63.4% to $1.8 million, with net loss attributable to shareholders increasing to $(0.3) million. Cash reserves remained stable at $44.6 million. The report highlights the impact of external factors, including economic slowdown and supply chain disruptions from geopolitical events.

Asia Pacific Wire & Cable Corporation (NASDAQ: APWC) will hold its 2022 Annual General Meeting on September 16, 2022, at its headquarters in Taipei, Taiwan, starting at 9:00 am EDT. The agenda includes approving the prior meeting's minutes, electing new directors, and appointing PricewaterhouseCoopers Taiwan as auditors. Shareholders must be on record by July 18, 2022, to vote. The meeting will provide a platform for shareholders to discuss the company's audited financial statements and other important matters.

Asia Pacific Wire & Cable Corporation (NASDAQ: APWC) filed its annual report on Form 20-F for the year ended December 31, 2021, reporting significant financial results. Revenue increased by 52.0% to $476.7 million, primarily driven by higher copper prices and recovery in sales post-COVID-19. However, the company reported an operating loss of $5.0 million, a notable decline from a profit of $7.6 million in 2020. Net loss attributable to shareholders was $(2.6 million), compared to $(0.6 million) the previous year. Cash and cash equivalents decreased to $44.5 million.

Asia Pacific Wire & Cable Corporation Limited (Nasdaq: APWC) successfully completed its rights offering, raising approximately $8.3 million by issuing 6,796,558 common shares. The offering, which was oversubscribed, ended on January 31, 2022. The subscription price was set at $1.22 per share, reflecting a 10% discount from the average trading price. The proceeds will be utilized for general working capital and corporate purposes, bringing total outstanding shares to 20,616,227.