DGAP-Adhoc: China Specialty Glass AG announces preliminary financial results 2013


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

24.11.2014 11:36

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

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China Specialty Glass AG announces preliminary financial results 2013

Munich, 24 November 2014 - For the full financial year 2013 China Specialty
Glass AG ("CSG"), holding company of one of the largest producers of
security glass in China, reports preliminary, unaudited results: Revenues
increased year-on-year by 4.4 per cent to 118.7 million Euros. On segment
level CSG achieved a growth in revenues of 28.8 per cent in the segment of
construction glass. At the same time, the segment revenues of automotive
security glass and banking security glass dropped slightly by 1.5 per cent
and 1.3 per cent respectively.

With respect to the group's profitability CSG realized a significant
increase in EBIT of 41.2 per cent to 38.5 million Euros in the financial
year 2013. Correspondingly, the EBIT margin increased by 8.4 percentage
points to 32.4 per cent. As a result, the net profit for the reporting
period increased by 57.6 per cent to 27.3 million Euros. The net profit
margin went up to 23 per cent. The main reason for this is the recognition
of a significant loss of 12.5 million Euros arising from the initial
recognition of both convertible and loan components of the convertible loan
in 2012.

As of December 31, 2013 the cash position of CSG increased significantly by
41.6 per cent to 119.6 million Euros due to the cash inflows from its
operations and the new bank loans. Furthermore, the group's equity improved
by 21.4 per cent to 139.4 million Euros, representing an equity ratio of
69.0 per cent (December 31, 2012: 68.3 per cent).

The final financial results for 2013 will be published with the annual
report in the first quarter of 2015.


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Information and Explaination of the Issuer to this News:

About CSG  

China Specialty Glass AG is the German holding company of the China
Specialty Glass Group. The Group develops, produces and sells specialty
glass. The Group's main products, which are all sold under the brand name
'Hing Wah', are, on the one hand, for safety glasses such as bullet-proof,
bomb-proof and burglar-resistant glasses and, on the other hand, for
constructional glasses including laminated, tempered and fire-resistant
glasses, hollow glass blocks and electrically-controlled colour-changing
glass. The Group is one of the leading companies in China in the fields of
safety glass for banks and the automobile industry, both in terms of
production output and market share.
The shares of China Specialty Glass AG are listed in the Prime Standard of
the Frankfurt Stock Exchange (ISIN DE000A1EL8Y8 / SIN A1EL8Y / Ticker 8GS).


For more information, please visit the Group's website www.csg-ag.com or
please contact:
Kirchhoff Consult AG
Anja Ben Lekhal
T: +49 40 60 91 86 55
F: +49 40 60 91 86 60
Email: anja.benlekhal@kirchhoff.de

24.11.2014 The DGAP 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
              Maximiliansplatz 15
              80333 München
              Germany
Phone:        +49 (0)40 60 91 86-0
Fax:          +49 (0)40 60 91 86-60
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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