Account
Please wait, authorizing ...

Do you have an account? Create one now.

×

PPG Reports 2022 Financial Results

Estado financiero

International. The paints and coatings industry leader sets record sales for all of 2022 of approximately $17.7 billion, helped by organic growth of 8%.

Components of the year-over-year change in net sales included higher sales prices (+11%), lower sales volumes (-5%), divestment-related sales and settlement of operations in Russia (-1%) and unfavorable foreign currency translation (-5%).

"We continue to make progress in our approach to achieving full operating margin recovery, as year-over-year earnings improved in both segments despite more acute pandemic-related demand disruptions in China," said PPG President and CEO Tim Knavish.

"This earnings improvement was driven by aggregate sales price increases totaling 19% on a two-year cumulative basis, as we remained focused on mitigating the significant cumulative cost inflation incurred over the past two years," Knavish added.

- Publicidad -

Overall sales volumes declined 5% year-over-year as manufacturing activity slowed in most regions, "including Asia Pacific, where volumes fell by a low double-digit percentage mainly due to pandemic-related impacts in China."

"As anticipated, demand remained weak in global DIY architectural coatings. In Europe, aggregate industrial activity weakened sequentially and sales volumes fell by an average single-digit percentage; However, our quarterly operating profit in that region was consistent with year-ago levels, driven by solid pricing and cost management.

Federico Duarte
Author: Federico Duarte
Editor en Latin Press, Inc.
Comunicador social y periodista con experiencia de más de 15 años en medios de comunicación. Apasionado por hacer de la vida una historia para contar. [email protected]

No thoughts on “PPG Reports 2022 Financial Results”

• If you're already registered, please log in first. Your email will not be published.

Leave your comment

In reply to Some User
Suscribase Gratis
SUBSCRIBE TO OUR ENGLISH LANGUAGE NEWSLETTER
DO YOU NEED A PRODUCT QUOTE?
HIGHLIGHTED INTERVIEWS

Entrevista con Sergio Zárate de Lanxess

Entrevista con Sergio Zárate Empresa: Lanxess Realizada por Ana María Mejía Evento: LACS 2019 - México Junio 2019

Entrevista con Roberto Barrera de Lubrizol

Entrevista con Roberto Barrera Empresa: Lubrizol Realizada por Ana María Mejía Evento: LACS 2019 - México Junio 2019

Entrevista con Miguel Ángel Castillo de Evonik

Entrevista con Miguel Ángel Castillo Empresa: Evonik Realizada por Ana María Mejía Evento: LACS 2019 - México Junio 2019

Entrevista con Marcos Basso de Eastman

Entrevista con Marcos Basso Empresa: Eastman Realizada por Ana María Mejía Evento: LACS 2019 - México Junio 2019

Entrevista con Juan Carlos Orozco de DOW

Entrevista con Juan Carlos Orozco Empresa: DOW Realizada por Ana María Mejía Evento: LACS 2019 - México Junio 2019
Load more...
SITE SPONSORS










LATEST NEWSLETTER
Ultimo Info-Boletin