APWC Reports Robust First Half Earnings, Driven by Cable Demand Surge

Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported its financial results for the six months ended June 30, 2021. The leading Asia-Pacific wire and cable manufacturer announced all data in U.S. Dollars at the exchange rate prevailing on the date of the reported event or result.

Asia Pacific Wire & Cable Reports Strong Financial Performance for H1 2021

TAIPEI, Taiwan, November 16, 2021 - Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, announced its financial results for the first half of 2021, ending June 30th.

APWC's revenue surged by 24.8% year-over-year to US$142.8 million, driven by robust demand for its high-quality cables and wires in both domestic and international markets. The company's strong performance was underpinned by the increased deployment of fiber-optic networks and the growing adoption of electric vehicles.

Gross profit increased by 22.3% to US$26.6 million, reflecting the company's efficient operations and cost optimization initiatives. Net income attributable to APWC soared by an impressive 37.5% to US$11.4 million, highlighting the company's financial strength and resilience.

"Our outstanding financial performance in the first half of 2021 is a testament to the resilience of our business model and the strength of our customer base," said Mr. Min-Ying Chen, Chairman of APWC. "We are well-positioned to benefit from the continued expansion of the telecommunications and electric-power industries, and we remain committed to delivering innovative and high-quality solutions to our customers."

APWC's financial position remained solid, with cash and cash equivalents amounting to US$35.1 million as of June 30, 2021. The company's strong financial performance and ample liquidity provide a firm foundation for future growth and expansion.

"We are confident in the long-term prospects of our industry," said Mr. Hsien-Tsung Hsu, President of APWC. "We will continue to invest in research and development, expand our product portfolio, and enhance our customer service to maintain our competitive edge and deliver superior shareholder value."

APWC's strong financial performance in the first half of 2021 sets the stage for continued success in the years to come. With its commitment to innovation, operational excellence, and customer satisfaction, APWC is well-positioned to capture the growth opportunities in the dynamic telecommunications and electric-power sectors.