PPG Industry's 2014 fourth quarter and full year sales and adjusted profit reached a new record high

· The sales volume in the whole quarter increased by 4% year-on-year, and the growth rate in all regions maintained or exceeded the previous quarter's level

· Adjusted diluted earnings per share from continuing operations for the fourth quarter was US$2.

· The acquired Comex business has begun to contribute to sales and profit growth

· A total of US$300 million in stock repurchases in the fourth quarter, and a total of US$750 million in stock repurchases throughout the year

· In 2014, net sales reached 15.

· Adjusted diluted earnings per share from continuing operations in 2014 reached US$9.

· As of the end of 2014, the total cash and short-term investments totaled approximately US$1.

Financial performance of each business in the fourth quarter of 2014

The industrial coatings business achieved sales of US$1.
34 billion in the fourth quarter, an increase of US$15 million from the same period last year and a year-on-year increase of 1%
.
The overall sales volume of the business increased by 5% year-on-year, but exchange rate factors dragged down the sales this quarter to 4%
.
In each business, the effective sales of automotive original equipment manufacturer (OEM) coatings in all major regions have increased over the same period of the previous year, and the total sales have achieved mid-to-high single-digit growth, significantly exceeding the overall industry growth of about 2%.
Level
.
Sales of industrial coatings and specialty coatings and materials in various regions have also steadily increased, with the US and Canadian markets particularly eye-catching
.
The sales volume of packaging coatings also increased over the same period last year, and the European market also began to rebound
.
The overall net profit of the industrial coatings business in the fourth quarter was US$223 million, an increase of US$21 million from the fourth quarter of 2013, a 10% year-on-year increase, mainly due to rising sales and falling production costs
.

The glass business achieved sales of US$272 million in the fourth quarter, an increase of US$8 million over the same period last year and a year-on-year increase of 3%.
This was mainly due to the increase in sales volume and sales price.
However, the exchange rate in this quarter had a negative impact on performance
.
With the gradual increase in demand for high value-added products in residential and non-residential end markets, the sales of flat glass continued to increase, but this was offset by the decline in sales of fiberglass business
.
Glass fiber sales rebounded in the European market this quarter, but sales declined in the North American market due to customer inventory adjustments
.
In the fourth quarter, the glass business achieved an overall net profit of 33 million U.
S.
dollars, an increase of 11 million U.
S.
dollars over the same period last year
.
Earnings growth momentum mainly comes from increased sales, increased capacity utilization, and reduced costs
.

Financial data for the whole year of 2014

Net sales from continuing operations for the full year of 2014 were US$15.
4 billion, an increase of 8% from US$14.
3 billion in the same period last year
.
Among them, the acquisition of business contributed about 4% of sales growth, sales and selling prices contributed to sales growth of 4% and 1%, respectively, but the exchange loss brought a 1% negative impact on sales
.
In 2014, continuing operations achieved net profit of US$1.
13 billion, equivalent to a diluted earnings per share of US$8.
10 (2013 net profit of US$950 million and diluted earnings per share of US$6.
55)
.
Adjusted net profit from continuing operations was US$1.
36 billion, equivalent to US$9.
75 in diluted earnings per share (adjusted net profit in 2013 was US$1.
11 billion, equivalent to US$7.
67 in diluted earnings per share)
.

PPG: Innovation, as you see

The goal of PPG Industries is to continue to maintain its position as the world's leading supplier of coatings and specialty materials
.
Relying on its leadership in innovation, sustainable development and color, PPG helps customers from industries, transportation, consumer goods, construction and other fields and their after-sales markets to improve the appearance of their products in a variety of ways
.
PPG Industries was founded in 1883 and is headquartered in Pittsburgh, USA
.
It has production bases and affiliates in nearly 70 countries around the world .
According to financial reports, the company's global net sales in 2014 were 15.
4 billion U.
S.
dollars
.
PPG is listed on the New York Stock Exchange (stock code: PPG)
.
For more information, please visit or china.
ppg.
com, and follow PPG Twitter @PPGIndustries
.