News Detail

Date/Time
28 Feb 2017 17:07:00
Headline
Management Discussion and Analysis Yearly Ending 31 Dec 2016
Symbol
CTW
Source
CTW
Full Detailed News
Download Full Detailed News
                Management Discussion and Analysis

Company name                             : CHAROONG THAI WIRE & CABLE PUBLIC 
COMPANY LIMITED
Year                                     : 2016
Quarter                                  : Yearly
Ending                                   : 31-Dec-2016
Note                                     :
CTW001/2017
                                                                    February 28,
 2017

Subject   : Management Discussion and Analysis for 2016

To            : President
                   The Stock Exchange of Thailand     

          Charoong Thai Wire and Cable Plc.(CTW) would like to clarify
the Company and its subsidiaries' 2016 operating results based on
the consolidated financial statements for the year ended 31 December
2016 as follows:
                                                                                
           (Unit : Million Baht)
               Operating Results                               Period of the Year
                                                                     2016          
2015  % Change
Total revenues                                        6,641.02       6,451.25      
2.94
Net Profit (Loss) attributable to equity
holders of CTW                                            281.80          (98.33)    
386.58
Earnings (Loss) per share (Baht/Share)        0.71            (0.25)    

Net Profit (Loss)
     Net profit was THB 281.80 million in 2016, increased by THB
380.13 million or 386.58% from net loss of THB 98.33 million in 2015
caused from the following main reasons:

Revenue from Sales
     Revenue from sales of THB 6,427.94 million in 2016 increased
by THB 6.01 million or 0.09% from THB 6,421.93 million in 2015.
     For the year 2016, the Company and its subsidiaries had revenue
from local customers of THB 3,879.67 million and from overseas
customers of THB 2,548.27 million.

Other Income
     Other Income of THB 213.08 million increased by THB 183.76
million or 626.74% from THB 29.32 million in 2015 since the Company
had gain on sales of investment property amounting to THB 156.75
million from the sales of land not being used for operation.  In the year
2016, there was gain on exchange of THB 19.30 million, while there
was loss on exchange of THB 104.22 million in 2015.

Expenses
     Total expenses of THB 6,257.93 million in 2016 decreased by THB
275.66 million or 4.22% from THB 6,533.60 million in 2015, details
were summarized as follows.
     1. Cost of Sales
         Total cost of sales of THB 5,908.03 million in 2016 decreased by
THB 212.67 million or 3.47% from THB 6,120.70 million in 2015 which
included the allowance for diminution in value of inventory of THB
53.58 million, while there was the reversal of allowance for diminution
in value of inventory of THB 102.22 million in 2016 due to increase in
the main raw material (copper) price.
 
     2. Selling Expenses
         Selling expenses was THB 98.60 million in 2016, decreased by
THB 3.16 million or 3.11% from THB 101.77 million in 2015, which
most were the reduction of transportation and consulting fees.

     3. Administration Expenses
         Administration expenses was THB 251.30 million in 2016,
decreased by THB 59.83 million or 19.23% from THB 311.14 million
in 2015 since there was gain on exchange of THB 19.30 million in
2016, while there was loss on exchange of THB 104.22 million due to
the depreciation of Thai Baht against the US dollar in 2015.

     4. Share of profit (loss) from investment in associate
      Share of loss from investment in associate company was THB
1.93 million in 2016, increased by THB 3.51 million or 222.23% from
share of profit from investment in associate of THB 1.58 million in
2015 since its a subsidiary recognized share of loss from investment
in Loxpac Hong Kong Co., Ltd. of THB 1.93 million in 2016, while the
subsidiary recognized  share of profit from investment in Loxpac Hong
Kong Co., Limited by THB 1.58 million in 2015.

     5. Finance Cost
         Finance cost of THB 23.90 million, decreased by THB 16.14
million or 40.30% from  THB 40.04 million in the previous year due to
the repayment of trust receipts before maturity in order to reduce loss
on exchange and interest expenses.

     6. Tax income (expenses)
      Tax expenses of THB 96.91 million in 2016 consisted of the
corporate income tax of THB 68.19 million and relating to origination
of temporary difference of THB 28.72 million, increased by THB 97.46
million in the previous year.  There was tax income of THB 0.54
million, consisted of the corporate income tax of THB 30.13 million
and relating to reversal of temporary differences of THB 30.67 million.

          The separate financial statements for the year 2016, the
Company had net profit of Baht 291.13 million, increased by Baht
169.64 million or 139.63%, when compared with the net profit of
Baht 121.49 million in 2015.

          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.