12 May 2017 18:15:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2017
Management Discussion and Analysis Company name : CHAROONG THAI WIRE & CABLE PUBLIC COMPANY LIMITED Year : 2017 Quarter : Quarter 1 Ending : 31-Mar-2017 Note : CTW020/2017 May 12, 2017 Subject : Management Discussion and Analysis for the first quarter of 2017 To : President The Stock Exchange of Thailand Charoong Thai Wire and Cable Plc.(CTW) would like to clarify the Company and its subsidiaries' operating results based on the consolidated financial statements for the first quarter of 2017, three-month period, ended 31 March 2017 as follows: (Unit : Million Baht) Operating Results The first quarter (three-month period) 2017 2016 Change Baht % Total revenues 1,570.06 1,191.79 378.27 31.74 Profit(Loss) attributable to equity holders of CTW 45.74 (8.50) 54.24 638.24 Earnings per share (Baht/Share) 0.115 (0.021) Profit (Loss) Profit attributable to equity holders of CTW of THB 45.74 million, increased by THB 54.24 million or 638.24% from loss of THB 8.50 million in the same period of 2016, caused by the following main reasons: Revenue from Sales Revenue from sales of THB 1,557.62 Million, increased by THB 380.55 Million or 32.33% when compared with THB 1,177.07 Million in the same period of the previous year. In the first quarter of 2017 the Company and its subsidiaries had revenue from Enameled and non-enameled wire of THB 940.98 Million, Power cable of THB 530.51 Million, Fiber optic cable of THB 64.82 Million and Communication cable of THB 21.09 Million, respectively. Other Income Other Income of THB 12.44 million, decreased by THB 2.29 million or 15.54% from THB 14.72 million in the same period of 2016, since there was gain on exchange of THB 8.42 million in the first quarter of 2017, which there was gain on exchange of THB 10.67 in the first quarter of 2016. Expenses Total expenses of THB 1,506.29 million, increased by THB 317.41 million or 26.70% from THB 1,188.88 million in the first quarter of 2016, details were summarized as follows. 1. Cost of Sales Total cost of sales of THB 1,440.97 million increased by THB 318.37 million or 28.36% from THB 1,122.60 million in the same period of 2016, which varied depending on sales. In the first quarter of 2017, gross profit of Baht 116.65 million, increased by Baht 54.47 million. Gross profit margin was calculated at 7.49%, while it was 4.63% in the same period of 2016. 2. Selling Expenses Selling expenses of THB 26.27 million increased by THB 3.98 million or 17.86% from THB 22.29 million in the same period of 2016 due to increase in the commission fee and transportation fee. 3. Administration Expenses Administration expenses of THB 39.04 million decreased by THB 4.95 million or 11.24% from THB 43.99 million in the same period of 2016, since there was reversal of allowance for doubtful account of THB 4.42 million in the first quarter of 2017, arising from the repayment from trade accounts receivable of the Company and its subsidiaries. 4. Finance Cost Finance cost of THB 7.12 million increased by THB 1.80 million or 33.75% from finance cost of THB 5.32 million in the same period of the previous year due to increase in the letter of credit and trust receipts. 5. Tax expenses Tax expenses of THB 12.59 million, increased by THB 5.69 million or 82.58% from tax expenses of THB 6.90 million in the same period of the previous year since the Company had the corporate income tax to pay during the first quarter of 2017. Please be informed accordingly. Sincerely yours, (Mrs. Sununtha Phaengsook) Asst. Managing Director (Finance) 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.