- 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, Aug. 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/QY/YRevenues$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)%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.
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.
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 Group2901 Dallas Parkway, Suite 360Plano, TX 75093Attn: Paul WeberPhone: (469) 797-7191Email: [email protected]2025
2026
2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) US$'000 US$'000 US$'000 US$'000Revenue$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 $(0.04)Basic and diluted weighted average common shares outstanding 41,232,454 20,616,227 34,863,953 20,616,227
2025
2026
2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) US$'000 US$'000 US$'000 US$'000Profit 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) $10,052
June 30, 2026
(Unaudited) As of
December 31, 2025
(Audited) US$'000 US$'000 Assets Current assets Cash and cash equivalents64,584 33,163 Financial assets at fair value through profit or loss— 61 Trade receivables112,678 103,535 Other receivables227 936 Contract assets11,894 7,748 Due from related parties484 3,905 Inventories171,278 151,515 Prepayments3,491 3,118 Assets classified as held for sale805 782 Other current assets6,192 4,336 371,633 309,099 Non-current assets Financial assets at fair value through other comprehensive income3,301 4,161 Property, plant and equipment51,168 53,683 Right of use assets2,350 2,879 Investment properties512 536 Intangible assets44 65 Investments in associates830 875 Deferred tax assets5,731 6,169 Other non-current assets4,619 4,228 68,555 72,596 Total assets440,188 381,695
June 30, 2026
(Unaudited) As of
December 31, 2025
(Audited) US$'000 US$'000Liabilities Current liabilities Interest-bearing loans and borrowings58,455 41,828 Trade and other payables54,760 58,184 Due to related parties17,180 9,590 Financial liabilities at fair value through profit or loss56 — Accruals6,060 11,079 Current tax liabilities2,196 644 Employee benefit liabilities1,124 2,507 Financial lease liabilities1,026 1,113 Other current liabilities14,870 6,877 155,727 131,822 Non-current liabilities Interest-bearing loans and borrowings— 510 Employee benefit liabilities7,621 6,524 Lease liabilities1,038 1,473 Deferred tax liabilities4,511 4,239 Other non-current liabilities828 175 13,998 12,921 Total liabilities169,725 144,743 Equity Issued capital413 206 Additional paid-in capital151,973 118,103 Treasury shares(38) (38)Retained earnings67,298 65,087 Other components of equity(14,997) (13,066)Equity attributable to equity holders of the parent204,649 170,292 Non-controlling interests65,814 66,660 Total equity270,463 236,952 Total liabilities and equity440,188 381,695
2025
2026
2025
(Unaudited) (Unaudited) (Unaudited) (Unaudited) US$'000 US$'000 US$'000 US$'000Net cash used in operating activities$(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