News Detail

Date/Time
15 May 2020 07:55:00
Headline
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2020
Symbol
CTW
Source
CTW
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                Management Discussion and Analysis

Company name                             : CHAROONG THAI WIRE & CABLE PUBLIC 
COMPANY LIMITED
Year                                     : 2020
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2020
Note                                     :
CTW014/2020
                                                        May 15, 2020

Subject : Management Discussion and Analysis for the first quarter
                   of 2020

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 2020, three-
month period, ended 31 March 2020 as follows:
                                                                                
          (Unit : Million Baht)
           Operating Results            The first quarter (three-month period)
                                                 2020              2019              
Change
                                                                            Million Baht 
      %
Total revenues                   1,163.53         1,580.22      (416.69)      (26.37)
Profit (Loss) attributable to
equity holders of CTW      (32.22)              36.67        (68.89)     (187.85)
Earnings (Loss) per share
(Baht/Share)                                (0.08)              0.09            

Profit & Loss
     Loss attributable to equity holders of CTW of THB 32.22 million
decreased by THB 68.89 million or 187.85% from profit of THB 36.67
million in the same period of 2019, caused by the following main
reasons:

Revenue from Sales
     Revenue from sales of THB 1,161.75 million decreased by THB
398.40 million or 25.54% when compared with THB 1,560.14 million
in the same period of the previous year.  In the first quarter of 2020,
the Company and its subsidiaries had revenue from Power cable of
THB 574.38 million, followed by Enameled and non-enameled wire of
THB 572.83 million, Fiber optic cable of THB 12.81 million and
Communication cable of THB 1.73 million, respectively.

Other Income
     Other Income of THB 1.79 million decreased by THB 18.30 million
or 91.10% from THB 20.08 million because a subsidiary company
received compensation from the Chinese government on rebuilding
the factory fence due to road expansion project in the amount of THB
10.27 million and there was gain on exchange of THB 8.20 million in
the same period of 2019.

Expenses
     Total expenses of THB 1,210.22 million decreased by THB 319.71
million or 20.90% from THB 1,529.94 million in the first quarter of
2019, details were summarized as follows.

   1.    Cost of Sales
       Total cost of sales in the first quarter of 2020 of THB 1,135.06
million decreased by THB 325.52 million or 22.29% when compared
with THB 1,460.58 million in the same period of 2019.  In the first
quarter of 2020, the gross profit was THB 26.69 million, decreasing by
THB 72.88 million or 73.20% from THB 99.56 million in the same
period of the previous year.  The gross profit margin was 2.30% which
decreased from 6.38% in the same period of 2019.

   2.    Selling and Distribution Expenses
       Selling and Distribution expenses of THB 20.27 million decreased
by THB 7.90 million or 28.04% from THB 28.16 million in the same
period of 2019 due to the new  Coronavirus 2019 outbreak situation.
Then the sales promotion plan to expanding the market in the first
quarter of 2020 has been postponed.

   3.    Administrative Expenses
       Administrative expenses of THB 54.90 million increased by THB
13.70 million or 33.26% from THB 41.20 million in the same period of
2019 since there was loss on exchange of THB 12.63 million in the
first quarter of 2020 arising from the weakness of the Thai Baht
against the US dollar.

   4.    Finance Cost
       Finance cost of THB 1.36 million decreased by THB 2.25 million
or 62.38% from THB 3.61 million in the same period of the previous
year.  The decreases were mainly from decrease in the interest
expenses of trust receipts of its subsidiaries.

          Please be informed accordingly.
                                                           Sincerely yours,
         
                                              (Mrs. Sununtha  Phaengsook)
                                        Deputy Managing Director (Finance)
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