1 Presentation of 2013 Year End Financial Results
YOY Net Revenue North Asia $117,658$123, % Thailand 175,347188, % ROW 167,671149, % Total 460,676462, % Cost of sales (408,860)(411,786) Gross profit 51,81650, % US$'000 For the year ended December 31 Revenue and GP Summary
3 Revenue Pie Chart
AmountGP%AmountGP% Gross Profit North Asia 4, %6, % Thailand $26, %$25, % ROW 20, %18, % Total 51, %50, % US$'000 For the year ended December 31 Gross Profit Analysis
5 Gross Profit Pie Chart
6 Gross Profit Margin Analysis Gross Profit Margin Changes North Asia – Gross margin was down from 5.49% in 2012 to 4.09 in It was primarily caused by the decrease in the copper price and weak demand in the market. Thailand – Gross margin was up from 13.29% in 2012 to 15.17% in As the selling price was set at a predetermined amount based on the sales agreements signed with customers, the region enjoyed a higher profit margin as the copper price decreased leading to products manufactured at a lower cost. ROW – The gross profit margin of the region in 2013 remained stable compared to 2012.
7 THAILAND AUSTRALIA CHINA SINGAPORE Headquarters 26% 38% 13% 23% Regional Locations and Facilities TOTAL HEADCOUNT: 2013: 1, : 1,411 Pacific Electric Wire & Cable (Shenzhen) Co., Ltd. Shanghai Yayang Electric Co., Ltd. CCH (Crown Century Holding) Hong Kong Ningbo Pacific Wire Co., Ltd. Charoong Thai Wire & Cable Public Co., Ltd. Siam Fiber Optics Co., Ltd. Siam Pacific Electric Wire & Cable Co., Ltd. Australia Pacific Electric Cables Pty., Ltd. Sigma Cable Co., Pte Ltd. Sigma-Epan International Pte., Ltd. SDI project engineering Power cable Distributed products Fiber optic cable Enameled wire Employee headcount % Revenue contribution (2013) Factories/op units Electronic wire 2013 : : : : : : : : : : 77 As of September 30, 2012 and 2013
8 Summary Income Statement Total Sales $460,676$462,265 Cost of Sales (408,860)(411,786) Gross Profit 51,81650,479 Operating Income 17,24220,823 Income Before Tax 16,78424,552 Net Income 11,26616,974 Less: Net Income attributable to non-controlling interests 5,5187,578 Net Income (Loss) attributable to APWC 5,8479,694 Basic and Diluted Income (Loss) per Share (USD) $0.42$0.70 US$'000 For the year ended December 31
9 Net Income Analysis Net Income decreased from $16,974K to $11,266K because of two main reasons as following: Net $3,859K insurance compensation received in 2012 for SP flooding Exchange Loss $1,245K in 2013 VS. Exchange Gain $2,411K in 2012
10 Summary Balance Sheet 2013/12/312012/12/31 Cash and Cash Equivalents $62,509$72,816 Current Assets 302,249327,940 Non-current Assets 62,38663,811 TOTAL ASSETS 364,635391,751 Bank Loans and Trust Receipts 41,78957,845 Current Liabilities 127,772146,135 Non-current Liabilities 8,7368,456 Total Liabilities 136,508154,591 Total Shareholders’ Equity 228,127237,160 TOTAL LIABS and SHS’ EQUITY 364,635391,751 Net Book Value Per Share US$'000
11 Net Book Value Analysis Net Book Value Changes Net Book Value decreased from $11.79/share to $11.39/share mainly due to the exchange rate fluctuated US$ / AUD$US$ / RMB$US$ / SGD$US$ / THB$ Dec 31, 2012 Closing Rate Dec 31, 2013 Closing Rate Increase (Decrease) %3.22%-3.52%-6.91%
12 Thank You