News Detail

Date/Time
16 May 2016 17:05:00
Headline
Management Discussion and Analysis Quarter 1 Ending 31-Mar-2016
Symbol
CTW
Source
CTW
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                Management Discussion and Analysis

Company name                             : CHAROONG THAI WIRE & CABLE PUBLIC 
COMPANY LIMITED
Year                                     : 2016
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2016
Note                                     :
CTW023/2016

May 16, 2016

Subject   : Management Discussion and Analysis for the first quarter 2016

To          : President
                The Stock Exchange of Thailand     

          Charoong Thai Wire and Cable Plc.(CTW) would like to clarify the
Company and its subsidiaries' the first quarter 2016 operating results based
on the consolidated financial statements for the three-month period ended
31 March 2016 as follows:

                                                                                
 (Unit : Million Baht)
              Operating Results
                                             The first quarter (three-month period)
                                                        2016             2015          % 
Change
Total revenues                                     1,191.79         1,405.49       
(15.20)
Net Profit (Loss) attributable to
   equity holders of CTW                        (8.50)               7.03     (220.90)
Earnings (Loss) per share (Baht/Share)        (0.02)               0.02    

Net Profit (Loss)
    The Company and subsidiaries had net loss of THB 8.50 million,
decreased by THB 15.53 million or 220.90% from net profit of THB 7.03
million in the same period of 2015 caused by the following main reasons:

Revenue from Sales
    Revenue from sales of THB 1,177.07 million decreased by THB 196.49
million or 14.31% from THB 1,373.56 million in the first quarter of 2015 since
many projects have been postponed due to the economic slowdown.
Moreover, there was the severe price competition, resulting in a decrease in
revenue from sale of the Company and subsidiaries.

Other Income
        Other Income of THB 14.72 million decreased by THB 17.21 million or
53.90% from THB 31.94 million in the same period of 2015, since there was
gain on exchange rate of THB 10.67 million in the first quarter of 2016, which
decreased by THB 12.00 million from the first quarter of 2015 due to Thai baht
weakened.  Moreover, interest income decreased by THB 4.08 million due to
decrease in short term investment and interest rate.

Expenses
    Total expenses of THB 1,188.88 million decreased by THB 200.78 million
or 14.45% from THB 1,389.66 million in the first quarter of 2015, details are
summarized as follows.

    1.    Cost of Sales
       Total cost of sales of THB 1,122.60 million decreased by THB 201.30
million or 15.21% from THB 1,323.90 million in the same period of 2015,
which varied depending on sales.  In addition, they reversed reduction of
cost to net realizable value of inventories during the period of THB 48.38
million due to increase in the main raw material (copper) price.
 
    2.    Selling Expenses
       Selling expenses of THB 22.29 million decreased by THB 2.80 million or
11.14% from THB 25.08 million in the same period of 2015 which the most
were the reduction of service and consulting fees.

    3.    Administration Expenses
       Administration expenses of THB 43.99 million increased by THB 3.32
million or 8.15% from THB 40.68 million in the same period of 2015 due to
increase in allowance for doubtful account and its a subsidiary's remuneration.

    4.    Finance Cost
       Finance cost of THB 5.32 million decreased by THB 5.30 million or
49.86% from finance cost of THB 10.62 million in the same period of the
previous year due to the repayment of trust receipts before maturity.

    5.    Tax expenses
       Tax expenses of THB 6.90 million, decreased by THB 1.94 million or
21.95% from tax expenses of THB 8.83 million in the same period of the
previous year since the Company and its subsidiaries had a loss before tax
expenses of THB 3.11 million, while they had profit before tax expenses of
THB 5.46 million in the first quarter of 2015.

          Please be informed accordingly.

                                                         Sincerely yours,

                               
                                               (Mrs. Sununtha  Phaengsook)
                                            Asst. Managing Director (Finance)
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