CHINA SPECIALTY GLASS AG China Specialty Glass AG reported earnings results for the year 2013. For the year, revenues increased year-on-year by 4.4% to €118.7 million. On segment level CSG achieved a growth in revenues of 28.8% 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% and 1.3% respectively. With respect to the group's profitability the company realized a significant increase in EBIT of 41.2% to €38.5 million in the financial year 2013. Correspondingly, the EBIT margin increased by 8.4 percentage points to 32.4%.
As a result, the net profit for the reporting period increased by 57.6% to €27.3 million. The net profit margin went up to 23%. The main reason for this is the recognition of a significant loss of €12.5 million arising from the initial recognition of both convertible and loan components of the convertible loan in 2012.
