29 Feb 2016 17:07:00
Management Discussion and Analysis Yearly Ending 31-Dec-2015
Management Discussion and Analysis Company name : CHAROONG THAI WIRE & CABLE PUBLIC COMPANY LIMITED Year : 2015 Quarter : Yearly Ending : 31-Dec-2015 Note : CTW001/2016 February 29, 2016 Subject : Management Discussion and Analysis for 2015 To : President The Stock Exchange of Thailand Charoong Thai Wire and Cable Plc.(CTW) would like to clarify the Company and its subsidiaries' 2015 operating results based on the consolidated financial statements for the year ended 31 December 2015 as follows: (Unit : Million Baht) Operating Results Period of the Year 2015 2014 % Change Total revenues 6,451.25 6,878.19 (6.21) Net Profit (Loss) attributable to equity holders of CTW (98.33) 116.47 (184.43) Earnings (Loss) per share (Baht/Share) (0.25) 0.29 Net Profit (Loss) Net loss was THB 120.27 million in 2015 decreased by THB 207.78 million or 237.43% from net profit of THB 87.51 million in 2014 caused from the following main reasons: Revenue from Sales Revenue from sales of THB 6,421.93 million in 2015 decreased by THB 412.48 million or 6.04% from THB 6,834.41 million in 2014. For the year 2015, the Company and its subsidiaries had revenue from local customers of THB 4,188.70 million and from overseas customers of THB 2,233.23 million. Other Income Other Income of THB 29.32 million decreased by THB 14.46 million or 33.04% from THB 43.78 million in 2015, due to decrease in short-term investments and interest rates. In the year 2015, there was loss on exchange of THB 104.22 million, while there was gain on exchange of THB 2.15 million in 2014. Expenses Total expenses of THB 6,533.60 million in 2015 decreased by THB 166.12 million or 2.48% from THB 6,699.72 million in 2014, details are summarized as follows. 1. Cost of Sales Total cost of sales of THB 6,120.70 million in 2015 decreased by THB 177.27 million or 2.81% from THB 6,297.97 million in 2014, which varied depending on sales. In addition, the cost was increased from setting up the allowance for diminution in value of inventory of THB 53.58 million. 2. Selling Expenses Selling expenses in 2015 was THB 101.77 million, decreased by THB 2.08 million or 2.00% from selling expenses of THB 103.85 million in 2014, which most were the reduction of transportation and consulting fees. 3. Administration Expenses Administration expenses in 2015 was THB 311.14 million, increased by THB 13.23 million or 4.44% from administration expenses of THB 297.91 million in 2014, since there was loss on exchange due to the weakness of the Thai Baht comparing with against the US dollar. 4. Finance Cost Finance cost of THB 40.04 million, decreased by THB 3.19 million or 7.39% from finance cost of THB 43.23 million in the same period of the previous year due to the repayment of trust receipts before maturity. The separate financial statements for the year 2015, the Company had net profit of Baht 121.49 million, decreased by Baht 85.04 million or 41.18%, when compared with the net profit of Baht 206.53 million in 2014. Please be informed accordingly. Sincerely yours, (Mr. Sun Tao-Heng) Managing Director This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.