Welcome to our dedicated page for Asia Pacific Wire & Cable news (Ticker: APWC), a resource for investors and traders seeking the latest updates and insights on Asia Pacific Wire & Cable stock.
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) is a prominent manufacturer and distributor of telecommunications, power cable, and enameled and electronic wire products. Headquartered in Bermuda, with principal executive offices in Taiwan, APWC operates through its subsidiaries in key markets including Singapore, Thailand, Australia, and the People's Republic of China.
The company offers a comprehensive range of telecommunications cable products such as copper-based and fiber optic cables designed for efficient telephone and data transmissions. In addition, APWC manufactures armored and unarmored low voltage power transmission cables for commercial and residential electricity transmission, as well as outdoor applications like street lights and traffic signals.
APWC's enameled wire products are integral in the assembly of various electrical products including transformers, motors, and household appliances. The company also provides project engineering services, facilitating the supply, delivery, and installation of power cables, ensuring a seamless experience for its customers.
Recent financial results for APWC show varied performance across its geographical segments. For the nine months ended September 30, 2023, revenues stood at $294.2 million, a 5.3% decrease from the same period in 2022. This decline was largely due to revenue drops in the Thailand and North Asia regions, attributed to factors like the global economic slowdown and the Sino-American trade war. Conversely, the Rest of World (ROW) region saw a 13.2% revenue increase, driven by robust demand in Australia's construction sector and public sector projects in Singapore.
APWC's financial condition remains robust with $38.5 million in cash and cash equivalents as of September 30, 2023. However, the company recorded a net cash outflow from operating activities amounting to $14.0 million during the first nine months of 2023, primarily due to decreased sales and higher investment in property, plant, and equipment.
In terms of partnerships and customers, APWC serves appliance component manufacturers, electrical contracting firms, state-owned entities, and wire and cable dealers. The company also distributes products manufactured by its controlling shareholder, Pacific Electric Wire & Cable Co., Ltd., as well as other third parties.
APWC continues to navigate through economic challenges while focusing on maintaining a strong market presence across the Asia-Pacific region. Stakeholders are encouraged to visit the company's website for the latest updates and detailed financial reports.
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.
Asia Pacific Wire & Cable Corporation Limited (Nasdaq: APWC) has commenced its rights offering, allowing existing shareholders to purchase additional common shares at a discounted rate. Shareholders as of January 7, 2022, will receive non-transferable subscription rights to buy shares at $0.60 each. The offering is expected to raise approximately $8.3 million for general working capital. Pacific Electric Wire & Cable Co., Ltd., the controlling shareholder, has indicated intent to invest around $6.3 million in the offering. The subscription period runs until January 31, 2022.
Asia Pacific Wire & Cable Corporation (Nasdaq: APWC) announced its upcoming rights offering, providing shareholders with non-transferable subscription rights to purchase additional common shares. The record date is set for January 7, 2022, and the subscription period runs from January 14 to January 31, 2022. Each right allows investment of $0.60 per share at a price 10% below the lower of the volume-weighted average price or the closing price. If fully subscribed, the Company expects to raise approximately $8.3 million for general working capital and corporate purposes.
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported substantial financial growth for the six months ending June 30, 2021. Revenues reached $225.3 million, a notable 76.5% increase from $127.6 million in the same period of 2020. Operating profit surged to $5.0 million from $0.3 million, showing an operating profit margin improvement to 2.2%. Despite these increases, the company recorded a net loss of $0.1 million, however, this reflects a significant recovery from a $1.2 million loss previously. Cash and cash equivalents declined to $39.0 million as of June 30, 2021.
Asia Pacific Wire & Cable Corporation (NASDAQ: APWC) announced its 2021 Annual General Meeting (AGM) scheduled for December 23, 2021, at 9 am EDT at its headquarters in Taipei, Taiwan. The agenda includes approving the previous AGM's record, electing up to nine directors, and appointing PricewaterhouseCoopers as the independent auditor for the fiscal year 2021. The record date for shareholder voting is set for November 5, 2021. Shareholders unable to attend in person can participate via conference call.
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