apwc 2012 annual general meeting 2012 half year results
DESCRIPTION
APWC 2012 Annual General Meeting 2012 Half Year Results. October 5, 2012. Revenue and GP Analysis. 20116/30 2012/6/30. In USD ‘000. G.P. ratios are derived by dividing individual country/segment G.P. against each country/segment revenue. Locations and Facilities. As of June 30, 2012. - PowerPoint PPT PresentationTRANSCRIPT
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APWC 2012 Annual General Meeting2012 Half Year Results
October 5, 2012
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Revenue and GP Analysis Revenue and GP Analysis
G.P. ratios are derived by dividing individual country/segment G.P. against each country/segment revenue
In USD ‘000 20116/30 2012/6/30
Thailand 100,593 37.2% 82,266 38.2% -18.2%
Australia 26,905 9.9% 29,029 13.5% 7.9%
Singapore 26,034 9.6% 26,948 12.5% 3.5%
China 88,574 32.7% 59,192 27.5% -33.2%TOTAL MANUFACTURE 242,106 89.5% 197,435 91.7% -18.5%
Distribution 15,604 5.8% 16,231 7.5% 4.0%
SDI 12,823 4.7% 1,628 0.8% -87.3%
TOTAL SALES 270,533 100.0% 215,294 100.0% -20.4%
GP
Thailand 12,482 12.4% 11,216 13.6% -10.1%
Australia 5,165 19.2% 6,037 20.8% 16.9%
Singapore 2,629 10.1% 2,593 9.6% -1.3%
China 7,328 8.3% 3,287 5.6% -55.1%TOTAL MANUFACTURE 27,604 11.4% 23,133 11.7% -16.2%
Distribution 1,716 11.0% 439 2.7% -74.4%
SDI 5 0.0% (822) -50.5.% -16540.0%
TOTAL GP 29,325 10.8% 22,750 10.6% -22.4%
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THAILAND
AUSTRALIA
CHINA
SINGAPORE
Headquarters
372
828
149
77
14
27.5%
38.2%
13.5%
13.3%
Locations and FacilitiesLocations and Facilities
Others: Distributed products of 7.5% include Sigma Cable, SEI, Australia, and CTW.
TOTAL HEADCOUNT: 1,440
As of June 30, 2012
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• Pacific Electric Wire & Cable (Shenzhen) Co., Ltd.• Shanghai Yayang Electric Co., Ltd.• Shandong Pacific Rubber Cable Co., Ltd.• Shandong HuaYu Fiber Optics Cable• 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 (1H09)
Factories/op units
Electronic wire
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Products and Services Rev. & GM Products and Services Rev. & GM
Revenue ($ millions) Gross Margin %
Products 2011/6/30 2012/6/30 2011/6/30 2012/6/30
Telecommunication Cable 32.3 9.0 21.4 35.0
Power Cable 95.0 104.2 13.2 13.8
Enameled Wire 114.8 84.2 7.1 6.7
Distributed Products 15.6 16.2 11.0 2.7
Electronic Cable - - - -
SDI Project Engineering Services 12.8 1.6 0.0 -50.5
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Summary Income StatementSummary Income Statement
(USD '000) 2010 (audited) 2011/6/30 2012/6/30
Total Sales $446,594 $270,533 (a) 215,294
Cost of Sales (389,571) (241,208) (192,544)
Gross Profit 57,023 29,325 (a) 22,750
Income from Operations 28,652 12,714 11,048
Income Before Taxes 31,832 12,051 12,422 (b)
Net Income (Loss) attributable to APWC
14,140 5,138 5,294
Basic and Diluted Income (Loss) per Share (USD)
$1.02 $0.37 0.38
a. Sales up to 2011/6/30 included SPFO revenue of 16.6 million, gross profit of 2.9 million.b. SP recognizes other income of Thai Baht 143.4 million (US$ 4,527K) from settlement of flood loss.
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Summary Balance SheetSummary Balance Sheet
As of (USD ‘000) 2011/12/31 2012/6/30
Cash and Cash Equivalents 76,672 54,227
Current Assets 288,697 319,444
Other Assets 48,592 50,497
TOTAL ASSETS 337,289 369,941
Bank Loans and Trust Receipts 52,813 47,140
Current Liabilities 117,741 131,347
Other Liabilities 4,859 17,930
TOTAL LIABILITIES 122,600 149,277
Total Shareholders’ Equity 214,689 220,664
TOTAL LIABS and SHS’ EQUITY 337,289 369,941
Net Book Value per Share 10.59 11.06
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Summary Analyses (i)Summary Analyses (i)
• Gross Margin Ratio Erosion GM ratio down from 10.8% to 10.6%, a 1.9% decreased than that of last
year’s. Major reasons being:• Decrease in copper price by 14% year over year• Decrease in distributed product margin from 11.0% to 2.7%
• Decrease in SG&A expenses by 1.5 million (detail next slide)
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Summary Analyses (ii)Summary Analyses (ii)
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Detail SG&A Account AnalysisBalance as of 06/30/2011
16,976
(in US '000)Items Country/site Reason
Saving on SG&A expenses due to disposal of Shangdong Fiber Optic Cable
SPFO, China Savings on commissions, entertainment, transportation and others
(3,026)
Freight cost increase APEC, Australia Sales increase hence transportation increases 355
Flood damage Siam Pacific, Thailand
Additional flooding damages identified in 2012 749
Salaries NPC, ChinaAPEC, Australia
Headcount increase in NPC and APEC salary adjustment due to an overall 4% increase, sales commission increase, and a new hire of operational manager.
471
(1,451)
Balance as of 06/30/2012
15,525
This Presentation of APWC was developed by the Company and CCG and is intended solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy the Company’s stock. This presentation is based upon information available to the public, as well as other information from sources which management believes to be reliable, but is not represented by APWC or CCG as being fully accurate nor does it purport to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.