11 Aug 2017 17:06:00
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2017
Management Discussion and Analysis Company name : CHAROONG THAI WIRE & CABLE PUBLIC COMPANY LIMITED Year : 2017 Quarter : Quarter 2 Ending : 30-Jun-2017 Note : CTW028/2017 August 11, 2017 Subject : Management Discussion and Analysis for the second 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 second quarter of 2017, three-month period, ended 30 June 2017 as follows: (Unit : Million Baht) Operating Results The second quarter (three-month period) 2017 2016 Change Baht % Total revenues 1,712.63 1,831.26 (118.64) (6.48) Profit attributable to equity holders of CTW 31.94 186.28 (154.34) (82.85) Earnings per share (Baht/Share) 0.08 0.47 Profit (Loss) Profit attributable to equity holders of CTW of THB 31.94 million, decreased by THB 154.34 million or 82.85% from profit of THB 186.28 million in the same period of 2016, caused by the following main reasons: Revenue from Sales Revenue from sales of THB 1,683.16 million increased by THB 31.42 million or 1.90% when compared with THB 1,651.74 million in the same period of the previous year. In the second quarter of 2017, the Company and its subsidiaries had revenue from Enameled and Non-enameled wire of THB 1,019.16 million, Power cable of THB 616.12 million, Fiber optic cable of THB 30.55 million and Communication cable of THB 16.43 million, respectively. Other Income Other Income of THB 29.47 million decreased by THB 150.06 million or 83.59% from THB 179.52 million in the same period of 2016 since the Company had gain on of investment property, land not being used for operation, of THB 156.75 million in the second quarter of 2016. Expenses Total expenses of THB 1,667.05 million increased by THB 83.36 million or 5.26% from THB 1,583.69 million in the second quarter of 2016, details were summarized as follows. 1. Cost of Sales Total cost of sales in the second quarter of 2017 of THB 1,593.96 million, including the allowance for diminution in value of inventories of THB 11.37 million increased by THB 91.62 million or 6.10% when compared with THB 1,502.35 million in the same period of 2016, which reversed allowance for diminution in value of inventories of THB 37.30 million. In the second quarter of 2017, the gross profit was THB 89.20 million, decreasing by THB 149.39 million from the same period of the previous year. The gross profit margin was 5.30% which dropped from 9.04% in the same period of 2016. 2. Selling Expenses Selling expenses of THB 23.73 million increased by THB 0.88 million or 3.84% from THB 22.86 million in the same period of 2016 due to increase in the tender fee and transportation fee. 3. Finance Cost Finance cost of THB 7.35 million increased by THB 0.94 million or 14.58% from finance cost of THB 6.41 million in the same period of the previous year which was mostly interest payment of trust receipts. 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.