PPG Announces 2018 Fourth Quarter and Full Year Financial Report

Pittsburgh, 2019 in 1 Yue 21 Ri - PPG (NYSE: PPG ) today announced 2018 fourth quarter earnings from continuing operations achieved net sales of approximately 36 billion US dollars, a year earlier fell 1% .

In the fourth quarter of 2018 , continuing operations achieved a net profit of US$ 256 million, equivalent to a diluted earnings per share of US$ 1.

Michael H.

"For the entire year of 2018 , the entire coatings industry is facing the pressure of rising raw material and logistics costs quarter by quarter

"Our operating cash flow is still strong.

"Looking forward, we are still confident that we are in a favorable position in terms of strategy and finance, but we expect that the uncertainty of the global economic outlook in 2019 will rise

The company realized cash flow from operating activities of US$ 1.

A summary of the performance of each business unit in the fourth quarter of 2018

• The high-performance coatings business achieved net sales of US$ 2.
  
  

    Thanks to the continued strong demand for PPG's high-tech products in major markets , sales of aviation coatings increased by more than 10%

  
  

    Although the exchange loss dragged down the net profit by approximately US$ 5 million, the high-performance coatings business achieved a net profit of US$ 261 million in the fourth quarter , an increase of US$ 2 million over the same period last year .

  
  
  • The net sales of the industrial coatings business in the fourth quarter were approximately US$ 1.
    
    

      Due to weak demand in the Chinese and European automotive markets, automotive original equipment manufacturer ( OEM ) coating sales fell by approximately 5% from the same period last year , in line with the global automotive production growth rate

    
    

      In the fourth quarter, the industrial coatings business achieved a net profit of US$ 187 million, a year-on-year decrease of US$ 27 million, a decrease of about 13% .

    
    

    2018 annual results at a glance

      2018 full year, continuing operations achieved net sales of approximately 154 million US dollars, year on year rise of about 4% , of which foreign exchange gains contributed about 1.

    
    

      The company achieved net profit of US$ 1.