Core Viewpoint - Asia Pacific Wire & Cable Corporation Limited (APWC) reported its financial results for the year ended December 31, 2024, showing significant revenue growth and improved operating profit, despite a slight decline in net income and earnings per share [1][2]. Financial Performance - Revenues for 2024 were $472.7 million, an increase of 11.0% from $425.8 million in 2023 [2][3]. - Operating profit rose to $10 million, a substantial increase of 546.5% from $1.5 million in 2023 [2][4]. - Net income for 2024 was $3.5 million, down 9.9% from $3.9 million in 2023 [2][3]. - Earnings per share (EPS) decreased to $0.17, a decline of 10.5% from $0.19 in 2023 [2][3]. Segment Performance - Thailand segment revenues increased by $5.9 million (4%) to $172.8 million, driven by higher sales of power cables and government contracts [3]. - North Asia segment revenues grew by $14.0 million (24%) to $72.6 million, attributed to rising copper prices and new customer acquisitions [3]. - Rest of World (ROW) segment revenues rose by $27.1 million (14%) to $227.3 million, with strong demand in Australia and completion of public sector projects in Singapore [3]. Operating Margins - Operating profit margin in the Thailand segment improved from a loss of (1.27)% in 2023 to 4.13% in 2024, reflecting better profitability in the public utility sector [4]. - North Asia segment's operating profit margin decreased from 3.06% in 2023 to (0.61)% in 2024 due to increased R&D costs [4]. - ROW segment's operating profit margin fell from 4.31% in 2023 to 2.29% in 2024, impacted by competitive pressures and contract provisions [4]. Strategic Initiatives - The company is exploring opportunities to expand its global operations, focusing on the Americas and South Asia, while enhancing capabilities in renewable energy and electric power systems [8].
Asia Pacific Wire & Cable Corporation Limited Announces Full Year 2024 Financial Results and Filing of Annual Report on Form 20-F for 2024