DGAP-News: China Specialty Glass AG: Further growth in the first quarter 2012
(firmenpresse) - DGAP-News: China Specialty Glass AG / Key word(s): Quarter Results
China Specialty Glass AG: Further growth in the first quarter 2012
30.05.2012 / 08:32
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CSG AG: Further growth in the first quarter 2012
* Revenues increased by 10.7% to EUR 18,2 million
* Net profit margin of 28.7%
* Positive outlook confirmed
Gruenwald/Munich, May 30, 2012 - China Specialty Glass AG ('CSG') has
started with good results into the financial year 2012. The German holding
of one of China's largest producers of security glass increased its
revenues by 10.7% to EUR 18.2 million (2011: EUR 16.4 million) in the first
three months of 2012. This positive development was mainly the result of an
increase in sales in the product segments of bank security glass and
construction glass. While the sales of bank security glass grew by 35.4% to
EUR 8.8 million, the sales of construction glass increased by 40.0% to EUR
2.8 million compared to the same period in 2011.
The gross profit in the first quarter of 2012 rose by 11.8% to EUR 7.6
million while the overall gross profit margin improved slightly from 46.2%
in the first quarter 2011 to 46.7% in the current reporting period. This
increase was mainly the result of an increase in proportion of sales of
bank security glass. This product segment recorded a higher gross profit
margin of 43.2% compared to 41.5% in the same period 2011.
The net profit remained stable in comparison to the first quarter of 2011
and amounted to EUR 5.2 million. Due to higher operating expenses and
finance costs during the first quarter 2012, the net profit margin
decreased slightly from 31.7% in the first quarter of 2011 to 28.7% in the
first three months of 2012.
Higher production capacity and innovative products
In July 2012 the first phase of CSG's new production site in Sichuan will
go into operation. Herewith the Group's capacity to produce lamination
glass and tempering glass will increase significantly. CSG expects that
these new production capacities will improve the overall financial
performance of the Group and broaden the geographic and market coverage of
CSG in the near future.
Additionally CSG continues to develop innovative high margin products for
the banking, automotive, and construction glass markets. Specifically, the
new intruder resistant glass products concluded the testing phase and are
expected to place high volume orders of the automotive and banking industry
in the upcoming years.
Positive outlook
Given the growth opportunities, CSG expects to achieve revenues of
approximately EUR 100 million and a net profit margin of approximately 30%
in the financial year 2012.
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(at)kirchhoff.de
or visit www.csg-ag.com
End of Corporate News
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30.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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(at)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 News DGAP News-Service
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171970 30.05.2012
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