APWC Announces Financial Results for the First Quarter of 2026

TAIPEI, Taiwan, May 14, 2026 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited ("APWC" or the "Company") (NASDAQ: APWC) today announced its financial results for the first quarter ended March 31, 2026.

Quarterly revenue was $130.8 million, down 2% from the previous quarter and up 30% from a year ago.

For the quarter, earnings per share were $0.05, down 71% from the previous quarter and up 171% from a year ago.

Copper unit volume, measured by the tonnage of copper contained in the wire and cable sold, decreased 2% sequentially and increased 5% from a year ago. This does not include other raw materials, such as aluminum and insulation materials.

Q1 Fiscal 2026 Summary

Revenue

Revenue for the first quarter was $130.8 million, representing a 30% year-over-year increase. Growth was driven by broad-based momentum across our international markets, where favorable commodity trends and steady project execution contributed an additional $30.2 million to the top line.

North Asia revenue for the first quarter was $23.9 million, up 26% year over year and 3% sequentially, primarily driven by the sustained increase in copper prices.

Thailand's revenue for the first quarter was up 41% year over year and 12% sequentially, reflecting strong execution of public-sector orders, supported by rising copper prices.

ROW revenue grew in the first quarter, up 23% from a year ago, but down 14% sequentially. The annual growth was driven by a recovery in the Australian market, supported by preemptive purchasing amid geopolitical tensions. The sequential decrease reflected the timing of public sector project milestones, resulting in normal quarterly variability.

Gross Profit

Gross profit margin for the first quarter was 8.2%, compared to 3.6% in the same period last year and flat sequentially. The year-over-year expansion was primarily driven by a more favorable product mix and the positive impact of rising copper prices.

Expenses

Total selling, general, and administrative expenses increased 19.0% year-over-year, primarily due to higher research and development costs and increased selling expenses.

Non-Operating Items

During the quarter, the Company recorded a one-time gain of approximately $1.0 million from the disposal of an investment.

Balance Sheet and Cash Flow

Cash and cash equivalents were $73.2 million, an increase of $40.1 million from the preceding quarter. This increase was primarily driven by the successful completion of a rights offering in the first quarter, which raised $34.1 million in net proceeds.

Trade receivables for the first quarter rose to $108.1 million, up $4.6 million from the preceding quarter. The increase in accounts receivable was primarily driven by higher average selling prices, reflecting sustained copper price appreciation.

Inventory was $150.6 million, representing a slight decrease of $1.0 million from the preceding quarter. The stable inventory level reflects the ongoing deliveries, which offset prior-period build-up while maintaining a consistent stock position to support future demand.

Cash flow from operating activities generated an inflow of $1.6 million in the first quarter, compared to a net outflow of $1.9 million in the prior quarter. This improvement was primarily driven by a reduction in inventory purchases, which lowered cash requirements for replenishment. Cash inflow from financing activities recorded $40.6 million, compared with $40.9 million in the prior quarter, primarily driven by the completion of the rights offering.

We encourage shareholders to visit the Company's website for further information (www.apwcc.com). Information on the Company's website or any other website does not constitute a portion of this release.

About Asia Pacific Wire & Cable Corporation Limited

Asia Pacific Wire & Cable Corporation Limited is a holding company incorporated in Bermuda with principal executive offices in Taiwan that operates its business through subsidiaries primarily engaged in the manufacture and distribution of enameled wire, power cable, and telecommunications products in Thailand, Singapore, Australia, the People’s Republic of China, Hong Kong and certain other markets in the Asia Pacific region. The Company also engages in the distribution of certain wire and cable products manufactured by its controlling shareholder, Pacific Electric Wire & Cable Co., Ltd., and certain third parties. The Company also provides project engineering services in the supply, delivery and installation of power cable. The Company’s major customers include appliance component manufacturers, electrical contracting firms, state owned entities, and wire and cable dealers and factories.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes”, “anticipates”, “expects”, “estimates”, “intends”, “plans” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company, or to persons acting on its behalf, are expressly qualified in their entirety by these factors, other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

Investor Relations Contact:

Pacific Holdings Group

2901 Dallas Parkway, Suite 360

Plano, TX 75093

Attn: Paul Weber

Phone: (469) 797-7191

Email: pweber@pusa.com