PPG發(fā)布2019年財(cái)務(wù)指南
PPG Announces Full-Year 2019 Financial Guidance
近日，PPG公布了2019年部分運(yùn)營和財(cái)務(wù)目標(biāo)。為實(shí)現(xiàn)這些目標(biāo)，公司將推出一系列戰(zhàn)略舉措，為股東創(chuàng)造更大價(jià)值，并有望推動(dòng)今年及以后的業(yè)績?cè)鲩L。公司董事會(huì)和管理團(tuán)隊(duì)將齊心協(xié)力，致力于為股東創(chuàng)造價(jià)值，推動(dòng)戰(zhàn)略目標(biāo)的實(shí)現(xiàn)。
PPG recently announced certain targets for 2019. The operational and financialmetrics are supported by PPG’s strategic initiatives to enhance shareholdervalue, and are expected to drive performance this year and beyond. The Boardand management team are strongly aligned and accountable for shareholder valuecreation and are committed to achieving these targets.
預(yù)計(jì)2019年全年以恒定貨幣結(jié)算的銷售額同比增長3-5%(含近期宣布的收購項(xiàng)目)
預(yù)計(jì)調(diào)整后每股收益同比增長(剔除匯兌損益)7-10%，主要?jiǎng)恿碜杂诠纠^續(xù)與客戶合作，提高創(chuàng)新產(chǎn)品的售價(jià)，并將逐步使?fàn)I業(yè)利潤率向成本攀升前的水平復(fù)蘇
績效考核將與創(chuàng)造股東價(jià)值緊密結(jié)合，繼續(xù)以每股收益增長10%作為長期激勵(lì)方案中與利潤相關(guān)的指標(biāo)
實(shí)現(xiàn)至少7000萬美元的成本縮減，已反映于每股收益目標(biāo)中
延續(xù)過去47年的傳統(tǒng)，向董事會(huì)提議增加年度分紅
2019年第二季度末前，完成對(duì)建筑和工業(yè)涂料業(yè)務(wù)合并或拆分是否會(huì)提升股東價(jià)值的戰(zhàn)略評(píng)估
繼續(xù)加強(qiáng)公司治理結(jié)構(gòu)，進(jìn)一步支持董事會(huì)和管理層，通過修改公司章程和相關(guān)政策來取消分級(jí)董事會(huì)和超多數(shù)投票權(quán)。 PPG過去曾向股東提出過這些議案，但今年將采取更多措施，并聘請(qǐng)代理律師，希望獲得通過提案所需的80%普通股股東同意。
Sales growth of 3 to 5 percent in constant currencies including recently announced acquisitions
Adjusted earnings per share growth, excluding currency translation impacts, of 7 to 10 percent, including improvement toward pre-inflationary operating margins as we continue to work with customers to receive appropriate value for our innovative products
Strong alignment with shareholder value creation by maintaining 10 percent EPS growth as the earnings-related metric for variable long-term incentive compensation
Deliver at least $70 million in cost savings, which are reflected in the EPS target
Recommend an increase in the annual per share dividend to our Board of Directors, consistent with the past 47 years
Complete the strategic review of the business portfolio regarding the shareholder value associated with the combination or separation of the architectural and industrial coatings businesses by the end of the second quarter 2019
Continued Board and management support to enhance governance structure by proposing to amend Articles of Incorporation and Bylaws eliminating the classified board and removing supermajority voting. PPG has made these shareholder proposals in the past, but will take an extra step this year and engage a proxy solicitor in an effort to achieve the required approval of 80 percent of the outstanding shares of common stock.
PPG公司董事長兼首席執(zhí)行官M(fèi)ichael H. McGarry表示：“這些目標(biāo)反映了PPG的運(yùn)營宗旨，即為客戶提供創(chuàng)新產(chǎn)品、推動(dòng)卓越運(yùn)營和回饋股東。7-10%的每股收益增長目標(biāo)切合實(shí)際，具有可操作性，并反映了當(dāng)前的宏觀經(jīng)濟(jì)環(huán)境。我們的長期薪酬激勵(lì)中與盈利相關(guān)的指標(biāo)仍將維持不變，即每股收益同比增長10%，確保與創(chuàng)造股東價(jià)值的目標(biāo)一致。”
“These targets areconsistent with our hallmarks of delivering innovative products to ourcustomers, driving operational excellence and rewarding shareholders,” saidMichael H. McGarry, PPG chairman and CEO. “The 7 to 10 percent EPS growthtarget is specific, actionable and reflective of the current macroeconomic environment.We will maintain a minimum of 10 percent EPS growth as our earnings-relatedmetric for our variable long-term incentive compensation, ensuring very strongalignment with shareholder value creation.
“過去幾個(gè)月來，PPG與許多股東進(jìn)行了積極的溝通。近日宣布的財(cái)務(wù)目標(biāo)是PPG戰(zhàn)略規(guī)劃的結(jié)果，響應(yīng)了廣大股東的意見，并表現(xiàn)出公司對(duì)長期發(fā)展前景和卓越運(yùn)營的信心。
“Over the last severalmonths, PPG has actively engaged with many of our shareholders. The targets andobjectives announced recently resulted from PPG’s planning process, areresponsive to a broad set of shareholder feedback and demonstrate confidence inthe Company’s long-term prospects and operational excellence.
“PPG在戰(zhàn)略和財(cái)務(wù)方面仍處于良好地位。我們擁有一支優(yōu)秀的管理團(tuán)隊(duì)，差異化的行業(yè)經(jīng)驗(yàn)、遍布世界的運(yùn)營網(wǎng)絡(luò)以及一流的創(chuàng)新產(chǎn)品。公司董事會(huì)和管理層致力于為股東創(chuàng)造價(jià)值。我們非常感謝所有股東給予的反饋和建設(shè)性意見，并將在今年隨后時(shí)間進(jìn)一步提供關(guān)于公司運(yùn)營的更新數(shù)據(jù)。”McGarry總結(jié)道。
“PPG remainswell-positioned strategically and financially. We have an outstanding team anddifferentiated industry expertise, a broad geographic footprint and robustworld-class product innovation. The Board and management remain deeplycommitted to shareholder value creation. We are very appreciative of the inputand constructive dialogue that we have with all of our shareholders and lookforward to providing further updates throughout the year,” concluded McGarry.