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Asia Pacific Wire & Cable (NASDAQ: APWC) grows Q2 2026 revenue but EPS drops

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Asia Pacific Wire & Cable Corporation Limited reported solid top-line growth for the quarter ended June 30, 2026, with revenue of $136.6 million, up 4% sequentially and 8% year over year, driven mainly by higher international copper prices and execution of public-sector contracts.

Operating profit rose to $3.4 million, up 36% from a year earlier, and gross profit margin expanded to 8.1% from 6.8%. However, earnings per share were $0.01, down 80% from the prior quarter and 67% from a year ago, as higher share count diluted profit attributable to equity holders.

By segment, North Asia revenue grew 29% year over year to $29.5 million, Thailand rose 17% to $51.7 million, while Rest of World declined 7% to $55.4 million. Cash and cash equivalents were $64.6 million, but there was an operating cash outflow of $18.0 million in the quarter, reflecting inventory build and higher raw material costs; short-term borrowings increased, contributing to $10.5 million of financing cash inflow.

Positive

  • Revenue growth and margin expansion: Q2 2026 revenue reached $136.6 million, up 8% year over year, while gross margin improved from 6.8% to 8.1%, supporting a 36% increase in operating profit to $3.4 million.
  • Stronger six-month performance: For the six months ended June 30, 2026, revenue grew to $267.5 million from $227.5 million and profit for the period improved to $5.3 million from a loss of $0.9 million.
  • Segment strength in North Asia and Thailand: North Asia revenue increased 29% year over year to $29.5 million and Thailand rose 17% to $51.7 million, highlighting robust demand in these markets.

Negative

  • Earnings per share sharply lower: Q2 2026 EPS was $0.01, down 80% from the prior quarter and 67% from a year earlier, despite higher revenue and operating profit.
  • Significant operating cash outflow: Cash flow from operating activities was an outflow of $18.0 million in Q2 2026, compared with a net inflow of $1.6 million in the prior quarter, driven by higher raw material costs and inventory build.
  • Higher short-term borrowings: Interest-bearing current loans and borrowings increased to $58.5 million as of June 30, 2026, from $41.8 million at year-end 2025, and financing cash inflow of $10.5 million in Q2 was mainly from additional short-term debt.
Q2 2026 Revenue $136.6 million Quarter ended June 30, 2026; up 4% Q/Q and 8% Y/Y
Q2 2026 Operating Profit $3.4 million Quarter ended June 30, 2026; up 36% year over year
Q2 2026 EPS $0.01 Basic and diluted earnings per share; down 80% from Q1 2026
Gross Profit Margin 8.1% Q2 2026 margin vs 6.8% in Q2 2025
Operating Cash Flow Q2 2026 $18.0 million outflow Net cash used in operating activities for Q2 2026
Cash and Cash Equivalents $64.6 million Balance as of June 30, 2026
Short-term Borrowings $58.5 million Current interest-bearing loans and borrowings as of June 30, 2026
Inventories $171.3 million Inventory balance as of June 30, 2026, up from prior quarter
gross profit margin financial
"Gross profit margin for the second quarter was 8.1%, expanding year over year"
Gross profit margin shows how much money a company keeps from sales after paying for the goods or services it sold. It’s like checking how much profit is left over from each dollar earned before covering other costs. A higher margin indicates the company makes more money from its sales, which helps assess its profitability and efficiency.
cash flow from operating activities financial
"Cash flow from operating activities generated an outflow of $18.0 million in the second quarter"
Cash flow from operating activities is the amount of actual cash a company earns or uses from its core business work—money collected from customers minus cash paid for things like suppliers, wages, and everyday bills—similar to a household’s paycheck minus monthly living expenses. Investors watch it because it shows whether the business’s regular operations generate real cash to pay debts, fund growth, or return money to shareholders, and it’s harder to fake than accounting profit.
non-controlling interests financial
"Non-controlling interests 1,416 ... 3,042"
An ownership stake in a subsidiary held by outside shareholders rather than the parent company, representing the portion of that subsidiary’s assets and profits the parent does not control. For investors, it shows what part of consolidated earnings and equity belongs to others — like a roommate who owns part of a house — which affects how much value and profit per share are truly attributable to the parent company’s shareholders.
financial assets at fair value through other comprehensive income financial
"Financial assets at fair value through other comprehensive income 3,301"
basic and diluted earnings per share financial
"Basic and diluted earnings per share (EPS) for the three-month periods ended June 30, 2026"
Basic earnings per share (EPS) shows how much of a company’s profit is attributable to each outstanding share by dividing net income by the current number of shares, while diluted EPS adjusts that figure to include additional shares that could appear from options, convertible debt or other claims. Investors use both numbers to see profit on a per-share basis and to judge how potential future share issuance might shrink each owner’s slice of earnings, like comparing how large a pizza slice is now versus if more people join the table.

FAQ

How did APWC (APWC) perform financially in Q2 2026?
APWC reported Q2 2026 revenue of $136.6 million, up 8% year over year, with operating profit of $3.4 million, up 36%. Gross margin expanded to 8.1%, while net income attributable to equity holders was $0.8 million.

What happened to APWC (APWC) earnings per share in Q2 2026?
APWC’s Q2 2026 EPS was $0.01, down 80% from $0.05 in Q1 2026 and down 67% from $0.03 a year earlier. The company attributed this to the impact of a higher weighted average share count and profit mix.

How did APWC (APWC) revenue by segment change in Q2 2026?
In Q2 2026, North Asia revenue was $29.5 million (up 29% year over year), Thailand $51.7 million (up 17%), and Rest of World $55.4 million (down 7%). Total revenue rose to $136.6 million from $126.9 million.

What was APWC (APWC) cash flow from operations in Q2 2026?
APWC recorded operating cash outflow of $18.0 million in Q2 2026, versus a $1.6 million inflow in Q1 2026. The company cited higher raw material costs and inventory buildup to fulfill public-sector and other contracts.

What is APWC (APWC) cash and debt position as of June 30, 2026?
As of June 30, 2026, APWC held $64.6 million in cash and cash equivalents and had $58.5 million of current interest-bearing loans and borrowings. Total assets were $440.2 million and total equity was $270.5 million.

How did APWC (APWC) perform for the first half of 2026?
For the six months ended June 30, 2026, APWC generated revenue of $267.5 million and profit for the period of $5.3 million, compared with revenue of $227.5 million and a loss of $0.9 million in the same period of 2025.

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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



FORM 6-K



REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August, 2026

Commission File Number: 1-14542




ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED

(Translation of registrant’s name into English)



15/Fl. B, No. 77, Sec. 2, Dunhua South Road
Taipei, 106, Taiwan, Republic of China
(Address of principal executive office)



Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒                Form 40-F  ☐

This Registrant issued a press release on August 14, 2026, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Exhibit 99.1. Press Release dated August 14, 2026





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.                                                                        

ASIA PACIFIC WIRE & CABLE
CORPORATION LIMITED

(Registrant)

By: /s/ Brian Ma
Name:    Brian Ma
Title:    Acting Chief Financial Officer
Date: August 14, 2026







APWC Announces Financial Results for the Second Quarter of 2026
•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, August 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.
1

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.


2

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: pweber@pusa.com
3

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 




4

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 

5

ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of
June 30, 2026
(Unaudited)
As of
December 31, 2025
(Audited)
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 





6

ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of
June 30, 2026
(Unaudited)
As of
December 31, 2025
(Audited)
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 


7




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 
8

Source: View Original Filing on SEC EDGAR

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