APWC · Asia Pacific Wire & Cable Corporation Limited

Asia Pacific Wire & Cable Corporation Limited delivered strong year-over-year growth in Q1 FY2026, with revenue rising 30% to $130.8 million, fueled by broad-based momentum across international markets. Favorable copper price trends and steady project execution added $30.2 million to the top line. Segment performance varied: North Asia revenue increased 26% Y/Y to $23.9 million on sustained copper price gains; Thailand surged 41% Y/Y to $51.2 million from strong public-sector orders; ROW grew 23% Y/Y to $55.7 million on Australian market recovery amid geopolitical tensions, though down 14% sequentially due to project timing. Gross profit margin expanded to 8.2% from 3.6% Y/Y, driven by a more favorable product mix and rising copper prices, with gross profit up 189% to $10.7 million. Operating profit swung to $3.3 million from a $2.7 million loss, aided by 8% sequential expense reduction despite 19% Y/Y SG&A increase from higher R&D and selling costs. A $1.0 million one-time gain from investment disposal boosted non-operating items. EPS improved to $0.05 from a $0.07 loss. Balance sheet strengthened with cash at $73.2 million, up $40.1 million sequentially, primarily from a rights offering raising $34.1 million net proceeds. Trade receivables rose to $108.1 million on higher selling prices, while inventory held steady at $150.6 million. Operating cash flow turned positive at $1.6 million versus prior quarter outflow, reflecting reduced inventory purchases. Copper unit volume rose 5% Y/Y, underscoring volume recovery. These results highlight operational resilience and commodity tailwinds, positioning the company for sustained demand in Asia Pacific wire and cable markets.