DGAP-Adhoc: China Specialty Glass AG: Revenue growth of 39.4% in the first half year 2012

China Specialty Glass AG  / Key word(s): Half Year Results

30.08.2012 19:01

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ad hoc release according to § 15 WpHG

China Specialty Glass AG: Revenue growth of 39.4% in the first half year
2012

Gruenwald/Munich, August 30, 2012 - China Specialty Glass AG ('CSG'), the
German holding of one of China's largest producers of security glass, has
shown a strong growth in the first six months of the financial year 2012
with revenues increasing by 39.4% to EUR 48.4 million (H1 2011: EUR 34.7
million). This success was mainly driven by strong sales in the second
quarter 2012 with a plus of 65.2% compared to the previous year. The
company achieved rising sales in all operating segments. Revenues of
construction glass showed the strongest growth and improved by 93.2% to EUR
8.5 million.

The strong sales in the three operating segments of CSG was accompanied by
an increase in gross profit of 45.0% from EUR 16.0 million in the first
half year 2011 to EUR 23.2 million in the same period 2012. This
corresponds to a slightly higher gross profit margin of 47.7% in the first
half year 2012 compared to the first six months of 2011 with a gross profit
margin of 46.1%. Especially due to one-off costs in connection with a new
bank loan, net profit decreased slightly by 4.2% from EUR 10.9 million in
H1 to 10.4 million in H1 2012.

In May 2012 CSG secured financing for the expansion of the second
production site in Sichuan. This new facility will significantly increase
the production capacity for lamination glass and thermal tempering glass.
Initial test operations of the first production phase have already started
but nevertheless due to the delay in the financing as well as the required
government approvals the production will not go into full operation until
2013.

Despite the delay in the construction of the new production plant, CSG
confirms the full year revenue target of approx. EUR 100 million based on
the strong sales in the second quarter of 2012. Net profit margin for 2012
is expected to reach approximately 25%. This mainly results from the
one-off costs in connection with the new bank loan. The previous target was
a 30% margin.


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Information and Explaination of the Issuer to this News:

About China Speciality Glass AG

China Speciality Glass AG is the German holding company of China Specialty
Glass Group. The group develops, produces and sells specialty glass. The
company's major products sold under its 'Hing Wah' brand are security
glass, which includes bulletproof glass, intruder resistant glass, bomb
blast resistant glass and self-defence glass as well as construction glass,
which includes architecture laminated glass, architecture tempered glass,
fire resistant glass, hollow glass and electric-controlled colour-changing
glass. For security glass products in the Chinese banking and automotive
industry, the Group is one of the market leaders both in terms of
production output and market share.

The shares of China Specialty Glass AG are listed in the Prime Standard of
Frankfurt Stock Exchange
(ISIN DE000A1EL8Y8 / WKN A1EL8Y / Ticker 8GS).

For further requests please contact:

Kirchhoff Consult AG
Dr. Kay Baden
T: +49 40 60 91 86 39
F: +49 40 60 91 86 60
E: baden@kirchhoff.de
or visit www.csg-ag.com

30.08.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      China Specialty Glass AG
              An den Römerhügeln 1
              82031 Grünwald
              Germany
Phone:        +49 (0)89 189 42 52 27
Fax:          +49 (0)89 189 42 52 28
E-mail:       ir@csg-ag.com
Internet:     http://www.csg-ag.de
ISIN:         DE000A1EL8Y8
WKN:          A1EL8Y
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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