PPG交出148億美元的成績單(PPG 2017 Q4 financial report）” 126205″

    PPG公布第四季度和2017全年財報
    PPG reports fourthquarter and full-year 2017 financial results

• 第四季度淨銷售額約37億美元，同比增長近8%
• 第四季度持續經營業務攤薄每股收益為0.72美元，調整後攤薄每股收益為1.19美元
• 第四季度銷量較去年同期攀升3%
• 公司第四季度回購了4億美元的股票，全年股票回購超過8億美元
• 財務靈活性保持強勁，截至年末，現金和短期投資約15億美元
• 公司承諾2018年將支出至少24億美元用於收購項目和股票回購
• Fourth quarter net sales of approximately  $3.7billion, up about 8 percent versus prior year
• Fourth quarter reported earnings per diluted sharefrom continuing operations of $0.72 and adjusted earnings per diluted sharefrom continuing operations of $1.19
• Sales volume growth of 3 percent in the fourth quarter versus prior year
• Share repurchases of $400 million in the fourth quarter and slightly more than $800 million for the year
• Strong financial flexibility with approximately   $1.5 billion of cash and short-term investments at year-end
• Commitment to deploy at least $2.4 billion   onacquisitions and share repurchases in 2018

    美國匹茲(zi) 堡市，2018年1月23日–PPG（紐約證交所代碼：PPG）近日公布2017年第四季度財報，持續經營業(ye) 務實現淨銷售額37億(yi) 美元，較去年同期增長近8%。第四季度銷量增加3%，銷售均價(jia) 連續第三個(ge) 季度上漲，貢獻銷售額增長近1%。匯兌(dui) 收益貢獻淨銷售額約1.15億(yi) 美元，影響幅度超過3%。收購相關(guan) 業(ye) 務（剔除已剝離業(ye) 務）貢獻銷售額增長近1%。

    PITTSBURGH,Jan. 23, 2018 – PPG (NYSE:PPG) recentlyreported fourth quarter 2017 net sales of approximately $3.7 billion, up nearly8 percent versus the prior year. Sales volumes increased by 3 percentyear-over-year and selling prices improved sequentially for the thirdconsecutive quarter, adding less than 1 percent to sales growth. Favorableforeign currency translation improved net sales by more than 3 percent, orabout $115 million, and acquisitions-related sales, net of divestitures, addedless than 1 percent to sales growth.
 
    PPG公司董事長兼首席執行官Michael McGarry 表示：“第四季度，我們(men) 各主要地區的業(ye) 務表現呈現出均衡、穩健的增長勢頭，兩(liang) 大業(ye) 務銷量增長都超過2%。本季度中國因環保壓力而大規模限產(chan) ，部分神秘彩金随机派发最高赠送供應短缺，導致神秘彩金随机派发最高赠送價(jia) 格超預期上漲。盡管如此，得益於(yu) 持續的利潤提升舉(ju) 措，我們(men) 的平均銷售價(jia) 格連續第三個(ge) 季度上漲，抵消了神秘彩金随机派发最高赠送價(jia) 格增幅高於(yu) 預期的影響。”

    “In the fourth quarter, we delivered solid and balanced sales growth ineach major region, and  both reportingsegments achieved at least 2 percent sales volume growth,” said Michael H.McGarry, PPG chairman and chief executive officer. “Additionally, our aggregateselling prices improved for the third consecutive quarter as we made continuedprogress on our margin recovery efforts, despite higher than anticipated rawmaterial inflation in the quarter driven by ongoing supply-related issues,including production curtailments from additional environmental enforcement in China.”
 
    “第四季度，高性能塗料業(ye) 務實現了全年最高的銷量增長，增幅超過2%，主要由於(yu) 汽車修補漆的銷售表現繼續跑贏行業(ye) ，航空業(ye) 務增速加快，加之美國建築塗料自營渠道保持穩健的中等個(ge) 位數銷量增長。工業(ye) 塗料業(ye) 務同樣保持了中等個(ge) 位數的銷量增幅，再次大幅跑贏全球工業(ye) 增速，其中通用工業(ye) 和包裝塗料業(ye) 務表現突出。” McGarry補充道。

    “Our Performance Coatings segment delivered its highest salesvolume growth of the year, growing more than 2 percent aided by continuedabove-market performance in automotive refinish coatings, strengtheningaerospace growth and solid mid-single-digit percentage volume growth in our U.S. company-owned architectural coatings stores. Industrial Coatingsmaintained a mid-single-digit percentage sales volume growth rate, once againwell outpacing global industrial production, led by our general industrial andpackaging coatings businesses,” McGarry said. 
 
    “全年來看，盡管塗料供應鏈一再中斷，導致神秘彩金随机派发最高赠送價(jia) 格大幅上漲，但我們(men) 的調整後攤薄每股收益仍取得了增長。我們(men) 繼續積極管理成本結構，通過2016年重組計劃節省了5000萬(wan) 美元的成本，實現既定目標上緣。戰略上，2017年我們(men) 出售了最後一塊非核心業(ye) 務——美國玻璃纖維業(ye) 務，標誌著持續多年的業(ye) 務轉型順利完成，並繼續實施以盈利增長為(wei) 目標的現金部署項目。”

    “For the full year, we delivered adjusted earnings perdiluted share growth despite repeated disruptions to the coatings industrysupply chain that resulted in significant coatings raw material inflation. We continued our legacy of aggressively managing our cost structure and delivered $50 million of full year cost savings from our 2016 restructuring program,achieving the top-end of our target. Strategically, during 2017 we completedour multi-year portfolio transformation with the sale of the U.S. fiber glassbusiness, our last remaining non-core business, and continued ourearnings-accretive focused cash deployment.”
 
    “2017年經營現金流非常健康，全年現金流超過15億(yi) 美元，其中營運資金比率持續改善。我們(men) 還延續了向股東(dong) 返還現金的傳(chuan) 統，全年通過股票回購和股息派發向股東(dong) 返還了超過12億(yi) 美元。至此，PPG已連續第118年支付年度股息，並連續46年增加每股派息，包括去年7月時增加股息13%。”McGarry繼續道。

    “Our cash flow from operations was excellent, totaling over $1.5 billionfor the year, including the benefit from improved operating working capitalratioses. We also continued our heritage of returning cash to shareholders, with more than $1.2 billion returned in 2017 via share repurchases and dividends. Weremain proud that PPG has paid annual dividends for 118 consecutive years, andincreased per-share payouts for 46 consecutive years, including a 13% per-shareincrease in July.” McGarry continued.
 
    “展望未來，我們(men) 預計全球經濟複蘇範圍將逐步擴大，相信憑借廣闊的地域覆蓋、豐(feng) 富的產(chan) 品組合和先進的技術，我們(men) 定能從(cong) 這一複蘇勢頭中獲益。”McGarry總結道：“考慮到塗料行業(ye) 麵臨(lin) 的神秘彩金随机派发最高赠送價(jia) 格大幅上漲，我們(men) 預計上半年盈利將小幅下滑。我們(men) 將繼續與(yu) 客戶合作，努力解決(jue) 成本上升問題，預計2018年銷售均價(jia) 將繼續上漲。最後，我們(men) 的財務靈活性依舊強勁，因此將依照此前公布的2017-2018年合計35億(yi) 美元現金部署計劃，在2018年支出至少24億(yi) 美元的現金用於(yu) 收購和股票回購項目。”

“Looking ahead, we are well positioned to benefit from broadening andmore synchronized global economic growth due to our geographic reach, excellentproduct portfolio, and advanced customer technologies, McGarry said. We expectminimal abatement in the first half of the year to the high level of rawmaterial inflation that the coatings industry is experiencing. We will continueto work with our customers to address the inflationary environment and expectto realize additional selling price increases in 2018. Finally, we continue tohave strong financial flexibility and are committed to deploy a minimum of $2.4billion of cash in 2018 on acquisitions and share repurchases as part of ourpreviously communicated target to deploy $3.5 billion in 2017 and 2018combined,” McGarry concluded.

    截至2017年末，PPG的現金和短期投資總額共計約15億(yi) 美元。目前PPG的股票回購授權預算中仍剩餘(yu) 36億(yi) 美元，其中包括12月PPG董事會(hui) 通過的25億(yi) 美元授權。

    The company reported year-end 2017 cash and short-terminvestments of approximately $1.5 billion. Also, PPG had $3.6 billion remainingon its current share repurchase authorizations at year-end 2017, including a $2.5 billion authorization approved by PPG’s Board of Directors in December.

    2017年全年業(ye) 績一覽
    Full-Year 2017 Financial Results

    2017年全年持續經營業(ye) 務淨銷售額為(wei) 148億(yi) 美元，同比增長超過3%。有利的匯率因素貢獻銷售額5500萬(wan) 美元，影響幅度近1%。其中，內(nei) 生銷售額增幅為(wei) 1.5%，收購業(ye) 務銷售額增長1%以上。

    Full-year 2017 reported net sales from continuing operationswere approximately $14.8 billion, up more than 3 percent, versus the prioryear, including favorable foreign currency translation  of less than 1percent, or approximately $55 million. Organic sales growth of 1.5 percent versus the prior year was supplemented by acquisition-related sales growth of more than 1 percent.
 
    2017年全年持續經營營業(ye) 實現淨利潤14億(yi) 美元，相當於(yu) 攤薄每股收益5.46美元。2017年全年持續經營業(ye) 務調整後攤薄每股收益為(wei) 5.87美元，同比增長近4%。調整後淨利潤中剔除了稅後淨支出1.05億(yi) 美元，約合每股0.41美元，其中包括：美國最新的“減稅與(yu) 就業(ye) 法案”相關(guan) 的淨支出9700萬(wan) 美元、養(yang) 老金結算費用3800萬(wan) 美元，資產(chan) 減值費用700萬(wan) 美元，收購相關(guan) 成本600萬(wan) 美元，同時出售墨西哥普拉卡（Plaka）牆板業(ye) 務獲得2400萬(wan) 美元收益，某法律訴訟相關(guan) 獲益1100萬(wan) 美元，以及出售非營運資產(chan) 獲得投資收益800萬(wan) 美元。2017年，不利的匯率因素影響稅前利潤達700萬(wan) 美元。全年持續經營業(ye) 務的有效稅率為(wei) 28.8%，調整後有效稅率為(wei) 24.4%。

    The company’s 2017 full-year reported net income from continuing operations was$1.4 billion, or $5.46 per diluted share. Full-year 2017 adjusted earnings perdiluted share from continuing operations was $5.87 per diluted share,representing an increase of nearly 4 percent year-over-year. Adjusted netincome excludes net after-tax charges totaling $105 million, or $0.41 perdiluted share. These net after-tax charges include: $97 million net chargerelated to the new U.S. Tax Cuts and Jobs Act legislation; $38 million forpension settlement charges; $7 million for asset write-downs; and $6 millionfor transaction-related costs, partially offset by a $24 million gain from thesale of the Mexican Plaka wallboard business; an $11 million benefit from alegal settlement, and an $8 million gain from the sale of a non-operatingasset. In 2017, foreign currency translation unfavorably impacted pre-taxincome by $7 million. The effective tax rate from continuing operations was 28.8 percent for 2017 and the adjusted effective tax rate from continuing operations was 24.4 percent for 2017.
 
    2016年全年持續經營業(ye) 務實現淨利潤5.47億(yi) 美元，相當於(yu) 攤薄每股收益2.05美元。全年持續經營業(ye) 務調整後攤薄每股收益5.67美元，其中剔除了9.59億(yi) 美元的稅後支出，相當於(yu) 每股3.62美元，包括養(yang) 老金結算費用6.16億(yi) 美元，與(yu) 匹茲(zi) 堡石棉信托結算資金相關(guan) 的稅費支出1.51億(yi) 美元，業(ye) 務重組相關(guan) 費用1.44億(yi) 美元，環境儲(chu) 備金費用增加5100萬(wan) 美元，資產(chan) 減值費用1700萬(wan) 美元，收購相關(guan) 成本500萬(wan) 美元，以及提前償(chang) 還債(zhai) 務溢價(jia) 500萬(wan) 美元，而出售某聯營企業(ye) 權益帶來淨投資收益3000萬(wan) 美元。2016年持續經營業(ye) 務有效稅率為(wei) 27.6%，調整後有效稅率為(wei) 24.6%。

    The company’s 2016 full-year reported net income from continuing operations was $547 million, or $2.05 per diluted share. Full-year 2016 adjusted earnings perdiluted share from continuing operations was $5.67 per diluted share. Adjustednet income excludes net after-tax charges totaling $959 million, or $3.62 perdiluted share. These net after-tax charges include: $616 million for pension settlement charges; $151 million for a net tax charge related to asbestos settlement funding; $144 million for business restructuring; $51 million chargefor increases to legacy environmental reserves; $17 million for assetwrite-downs; $5 million for transaction-related costs; and $5 million for apremium on the early retirement of debt, partially offset by a $30 million netgain on the disposals of ownership interests in business affiliates. Theeffective tax rate from continuing operations was 27.6 percent for 2016 and theadjusted effective tax rate from continuing operations was 24.6 percent for 2016.

    PPG（紐約證交所代碼: PPG）始終致力於(yu) 為(wei) 客戶開發並提供值得信賴的油漆、塗料和材料產(chan) 品已逾130年。秉持奉獻與(yu) 創新精神，PPG幫助客戶應對各類嚴(yan) 峻挑戰，共同推動行業(ye) 進步。PPG公司總部設在美國匹茲(zi) 堡市，其運營和研發機構遍布全球70多個(ge) 國家，2017年公司全球淨銷售額達148億(yi) 美元。PPG為(wei) 建築、消費品、工業(ye) 、交通運輸等領域及其售後市場的客戶提供高附加值產(chan) 品和服務。更多訊息，敬請瀏覽www.ppg.com。

    At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 130 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $14.8 billion in 2017. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com. 

責任編輯：李謹之