China Specialty Glass AG reported earnings results for the year 2012. For the year, due to a negative one-off effect of EUR 12.5 million resulting from a convertible loan, earnings before interest and taxes, earnings before taxes as well as net profit were impaired. Despite this effect, EBIT increased by 9.2% to EUR 26.7 million. Excluding this negative one-off effect, EBIT amounted to EUR 39.1 million and EBT to EUR 35.8 million. The one-off effect resulted from losses arising from the initial recognition of a convertible loan as well as the convertible components due to the fact that the interest rate of the loan is higher than the current market rate. Cash flow from operations increased by 48.6% to EUR 29.2 million, up from EUR 19.7 million in the previous year.

The company provided earnings guidance for the year 2013. For the year, the company intends to further increase its product sales by the expansion of its sales network in China and abroad. The required enhanced production capacity will be achieved through the new laminated and thermal pre-stressed glass production line in Sichuan Province, which will be fully put into operation in 2013 and also by the expansion of the existing production plant in Guangzhou. Given the growth opportunities for the company and its market position in China, the company expects to increase its revenues by around 40% in 2013. Net profit is expected to grow at the same pace.