News Detail

Date/Time
13 Aug 2019 12:34:00
Headline
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2019
Symbol
CTW
Source
CTW
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                Management Discussion and Analysis

Company name                             : CHAROONG THAI WIRE & CABLE PUBLIC 
COMPANY LIMITED
Year                                     : 2019
Quarter                                  : Quarter 2
Ending                                   : 30-Jun-2019
Note                                     :
CTW021/2019
                                                      August 13, 2019

Subject   : Management Discussion and Analysis for the second
                   quarter of 2019

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 2019,
three-month period, ended 30 June 2019 as follows:
                                                                                
           (Unit : Million Baht)
           Operating Results      The second quarter (three-month period)
                                                  2019           2018              
  Change
                                                                                 Million 
Baht       %
Total revenues                   1,395.67     1,917.77         (522.10)     (27.22)
Profit (loss) attributable to
equity holders of CTW       (51.60)           108.58         (160.18)   (147.52)
Earnings (loss) per share
(Baht/Share)                                 (0.13)            0.27            

Profit (loss)
     Loss attributable to equity holders of CTW was THB 51.60
million, decreasing by THB 160.18 million or 147.52% from the profit
of THB 108.58 million in the same period of 2018, caused by the
following main reasons:

Revenue from Sales
     Revenue from sales of THB 1,378.97 million decreased by THB
534.68 million or 27.94% when compared with THB 1,913.65 million
in the same period of the previous year, due to the transition of the
new method of procurement of the Electricity Authorities. As a result,
the procurement of the Electricity Authorities and the delivery
schedules are delayed and a decrease in the revenue from sales of
the Company and its subsidiaries.  In the second quarter of 2019,
three-month period, the Company and its subsidiaries had revenue
from Enameled and non-enameled wire of THB 980.18 million,
followed by Power cable of THB 375.56 million, Fiber optic cable of
THB 15.25 million and Communication cable of THB 4.08 million,
respectively.

Other Income
     Other Income of THB 16.70 million increased by THB 12.59 million
or 306.03% when compare with the same period of the previous year.
In the second quarter of 2019, there was gain on exchange rate of
THB 11.29 million, while there was loss on exchange rate of THB 7.19
million in the second quarter of 2018.

Expenses
     Total expenses of THB 1,457.27 million decreased by THB 315.59
million or 17.80% from THB 1,772.86 million in the second quarter of
the previous year, details were summarized as follows.

   1.    Cost of Sales
       Total cost of sales of THB 1,375.24 million decreased by THB
322.93 million or 19.02% when compared with THB 1,698.17 million
in the same period of the previous year.  In the second quarter of
2019, the gross profit was THB 3.74 million, decreasing by THB
211.75 million or 98.27% from THB 215.49 million in the same period
of the previous year.  The gross profit margin was 0.27% which
decreased from 11.26% in the same period of 2018.

   2.    Selling and Distribution Expenses
       The selling and distribution expenses of THB 28.00 million
increased by THB 4.17 million or 17.50% from THB 23.83 million in
the same period of the previous year due to an increase of the
bidding fee.

   3.    Administrative Expenses
        Administrative expenses of THB 54.04 million increased by THB
3.17 million or 6.23% from THB 50.87 million in the same period of the
previous year since they have recognized the effect of the new Labor
Protection Act (B.E. 2562), resulting increase in provision for long-
term employee benefits.

          Please be informed accordingly.

                                                     Sincerely yours,

                                                  (Mr. Sun Tao-Heng)
                                                   Managing Director
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