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VALHI REPORTS FOURTH QUARTER 2023 RESULTS

VALHI REPORTS FOURTH QUARTER 2023 RESULTS

VALHI 公佈 2023 年第四季度業績
瓦利化工 ·  03/07 13:00

Dallas, Texas, March 07, 2024 (GLOBE NEWSWIRE) -- Valhi, Inc. (NYSE: VHI) reported net income attributable to Valhi stockholders of $3.9 million, or $.14 per share, in the fourth quarter of 2023 compared to a net loss of $9.4 million, or $.33 per share, in the fourth quarter of 2022. For the full year of 2023, Valhi reported a net loss attributable to Valhi stockholders of $12.1 million, or $.42 per share, compared to net income of $90.2 million, or $3.16 per share, for the full year of 2022. Net income attributable to Valhi stockholders increased in the fourth quarter of 2023 as compared to the fourth quarter of 2022 primarily due to higher operating results from all of our segments. Net income attributable to Valhi stockholders decreased in the full year of 2023 as compared to the full year of 2022 primarily due to lower operating results from our Chemicals Segment.

得克薩斯州達拉斯,2024年3月7日(環球新聞社)——Valhi, Inc.(紐約證券交易所代碼:VHI)報告稱,2023年第四季度歸屬於Valhi股東的淨收益爲390萬美元,合每股虧損0.14美元,而2022年第四季度的淨虧損爲940萬美元,合每股虧損0.33美元。Valhi報告稱,2023年全年歸屬於Valhi股東的淨虧損爲1,210萬美元,合每股虧損0.42美元,而2022年全年的淨收益爲9,020萬美元,合每股虧損3.16美元。與2022年第四季度相比,歸屬於Valhi股東的淨收益在2023年第四季度有所增加,這主要是由於我們所有細分市場的經營業績都有所提高。與2022年全年相比,歸屬於Valhi股東的淨收益在2023年全年有所下降,這主要是由於我們的化學品板塊的經營業績下降。

The Chemicals Segment's net sales of $400.1 million in the fourth quarter of 2023 were $57.7 million, or 17%, higher than in the fourth quarter of 2022 and its net sales of $1.7 billion in the full year of 2023 were $263.7 million, or 14%, lower than in the full year of 2022. The Chemicals Segment's net sales increased in the fourth quarter of 2023 compared to the fourth quarter of 2022 due to the net effects of higher sales volumes due to strengthening demand for TiO2 in our Chemicals Segment's primary markets of Europe and North America and lower average TiO2 selling prices. The Chemicals Segment's net sales decreased in the full year of 2023 compared to the full year of 2022 due to the effects of lower sales volumes in all major markets and lower average TiO2 selling prices. The Chemicals Segment's TiO2 sales volumes were 29% higher in the fourth quarter of 2023 as compared to the fourth quarter of 2022 and 13% lower in the full year of 2023 as compared to the full year of 2022. Average TiO2 selling prices were 11% lower in the fourth quarter of 2023 as compared to the fourth quarter of 2022 and 4% lower in the full year of 2023 as compared to the full year of 2022. Average TiO2 selling prices at the end of 2023 were 13% lower than at the end of 2022. The Chemicals Segment's changes in product mix positively contributed to net sales, primarily due to higher average selling prices and sales volumes in its complementary businesses which somewhat offset declines in TiO2 sales volumes in the full year of 2023. Fluctuations in currency exchange rates (primarily the euro) also affected net sales comparisons, increasing our Chemicals Segment's net sales by approximately $10 million in both the fourth quarter and full year of 2023 as compared to the same periods in 2022. The table at the end of this press release shows how each of these items impacted our Chemical Segment's net sales.

化工板塊在2023年第四季度的淨銷售額爲4.01億美元,比2022年第四季度增長了5,770萬美元,增長了17%,而其2023年全年淨銷售額爲17億美元,爲2.637億美元,下降了14%,比2022年全年下降了14%。化學品板塊在2023年第四季度的淨銷售額與2022年第四季度相比有所增加,這是由於對TiO的需求增強導致銷量增加的淨影響2 在我們化學品板塊的主要市場歐洲和北美以及較低的平均TiO2 銷售價格。由於所有主要市場銷量減少和平均TiO下降的影響,化學品板塊2023年全年的淨銷售額與2022年全年相比有所下降2 銷售價格。化學品板塊的 TiO2 與2022年第四季度相比,2023年第四季度的銷量增長了29%,與2022年全年相比,2023年全年的銷量下降了13%。平均二氧化鈦量2 與2022年第四季度相比,2023年第四季度的銷售價格下降了11%,與2022年全年相比,2023年全年銷售價格下降了4%。平均二氧化鈦量2 2023年底的銷售價格比2022年底下降了13%。化工板塊產品組合的變化對淨銷售額做出了積極貢獻,這主要是由於其補充業務的平均銷售價格和銷量的上漲,這在一定程度上抵消了TiO的下降2 2023 年全年的銷量。貨幣匯率(主要是歐元)的波動也影響了淨銷售額的比較,與2022年同期相比,我們的化學品板塊在2023年第四季度和全年的淨銷售額均增加了約1000萬美元。本新聞稿末尾的表格顯示了這些項目如何影響我們化學品板塊的淨銷售額。

The Chemicals Segment's operating loss in the fourth quarter of 2023 was $1.6 million as compared to an operating loss of $15.3 million in the fourth quarter of 2022. For the full year of 2023, the Chemicals Segment recognized an operating loss of $41.1 million compared to operating income of $174.6 million for the full year of 2022. The Chemicals Segment's operating loss decreased in the fourth quarter of 2023 compared to the same period in 2022 primarily due to the net effects of higher sales volumes and lower average TiO2 selling prices. The Chemicals Segment's operating income decreased in the full year of 2023 as compared to the full year of 2022 primarily as a result of the combination of lower sales volumes, higher production costs and lower average TiO2 selling prices. In addition, cost of sales in the fourth quarter and full year of 2023 includes $22 million and $96 million, respectively, of unabsorbed fixed production and other manufacturing costs associated with production curtailments at its facilities during the full year of 2023 as the Chemicals Segment adjusted its TiO2 production volumes to align inventory levels with lower demand. TiO2 production volumes were 15% higher in the fourth quarter of 2023 compared to the fourth quarter of 2022 but 19% lower in the full year of 2023 compared to the full year of 2022. As a result of reduced demand and scheduled maintenance activities, the Chemicals Segment operated its production facilities at 72% of practical capacity utilization in the full year of 2023 (76%, 64%, 73% and 75% in the first, second, third and fourth quarters of 2023, respectively) compared to 89% in the full year of 2022 (100%, 95%, 93% and 65% in the first, second, third and fourth quarters of 2022, respectively). Fluctuations in currency exchange rates (primarily the euro) decreased the Chemicals Segment's operating loss by approximately $5 million in the fourth quarter of 2023 and by approximately $16 million in the full year of 2023 as compared to the same prior year periods.

化工板塊在2023年第四季度的營業虧損爲160萬美元,而2022年第四季度的營業虧損爲1,530萬美元。2023年全年,化工板塊確認的營業虧損爲4,110萬美元,而2022年全年的營業收入爲1.746億美元。化工板塊在2023年第四季度的營業虧損與2022年同期相比有所下降,這主要是由於銷量增加和平均TiO下降的淨影響2 銷售價格。與2022年全年相比,化工板塊2023年全年的營業收入有所下降,這主要是由於銷量減少、生產成本上升和平均TiO降低的綜合結果2 銷售價格。此外,隨着化學品板塊調整其TiO,2023年第四季度和2023年全年的銷售成本分別包括2200萬美元和9,600萬美元的未吸收固定產量和其他製造成本,這些成本與其工廠在2023年全年減產相關的其他製造成本2 產量以使庫存水平與較低的需求保持一致。TiO2 與2022年第四季度相比,2023年第四季度的產量增長了15%,但與2022年全年相比,2023年全年的產量下降了19%。由於需求減少和定期維護活動,化學品板塊在2023年全年運營其生產設施的實際產能利用率爲72%(2023年第一、第二、第三和第四季度分別爲76%、64%、73%和75%),而2022年全年爲89%(2022年第一、第二、第三和第四季度分別爲100%、95%、93%和65%)。與去年同期相比,貨幣匯率(主要是歐元)的波動使化學品板塊在2023年第四季度的營業虧損減少了約500萬美元,2023年全年的營業虧損減少了約1,600萬美元。

The Chemicals Segment's operating loss in the full year of 2023 includes an insurance settlement gain related to a 2020 business interruption insurance claim of $2.5 million ($1.3 million, or $.05 per share, net of tax and noncontrolling interest), a fixed asset impairment related to the write-off of certain costs resulting from a capital project termination of $3.8 million ($1.8 million, or $.06 per share, net of tax and noncontrolling interest) and restructuring costs related to workforce reductions of $5.8 million ($2.8 million, or $.10 per share, net of tax and noncontrolling interest). The Chemicals Segment's operating income in the full year of 2022 includes a gain related to the 2020 business interruption insurance claim noted above of $2.7 million ($1.4 million, or $.05 per share, net of tax and noncontrolling interest).

化工板塊2023年全年的營業虧損包括與2020年營業中斷保險索賠相關的保險結算收益(130萬美元,扣除稅收和非控股權益後每股0.05美元)、與註銷資本項目終止380萬美元(扣除稅收和非控制權益後每股0.06美元)產生的某些成本相關的固定資產減值以及重組與裁員相關的成本爲580萬美元(280萬美元,合每股0.10美元,扣除稅款)和非控股權益)。化工板塊2022年全年的營業收入包括與上述2020年營業中斷保險索賠相關的270萬美元(扣除稅收和非控股權益後的140萬美元,合每股0.05美元)的收益。

The Component Products Segment's net sales were $43.2 million in the fourth quarter of 2023 compared to $40.0 million in the fourth quarter of 2022 and $161.3 million for the full year of 2023 compared to $166.6 million for the full year of 2022. The Component Products Segment's net sales increased in the fourth quarter of 2023 compared to the same period in 2022 primarily due to higher security products sales related to a pilot project for a government security customer, partially offset by lower marine components sales primarily to the towboat market. The Component Products Segment's net sales decreased for the full year of 2023 compared to the full year of 2022 due to lower marine components sales predominantly to the towboat market, partially offset by higher security products sales to the government security market largely in the fourth quarter related to the pilot project noted above. Operating income attributable to the Component Products Segment was $7.4 million in the fourth quarter of 2023 compared to $5.4 million in the fourth quarter of 2022 and $25.4 million for each of the years ended December 31, 2023 and December 31, 2022. The Component Products Segment's operating income increased in the fourth quarter of 2023 compared to the same period in 2022 due to higher sales and improved gross margin percentage at security products, partially offset by lower marine components sales and gross margin percentage. Operating income for the full year of 2023 was comparable to 2022 as lower marine components sales were offset by higher gross margin percentages across both the security products and marine components reporting units, primarily due to lower production costs, and higher security products sales.

組件產品板塊在2023年第四季度的淨銷售額爲4,320萬美元,而2022年第四季度爲4,000萬美元,2023年全年爲1.613億美元,而2022年全年爲1.666億美元。組件產品板塊在2023年第四季度的淨銷售額與2022年同期相比有所增長,這主要是由於與政府安全客戶試點項目相關的安全產品銷售增加,但主要針對拖船市場的船用零部件銷售的減少部分抵消了這一增長。組件產品板塊2023年全年的淨銷售額與2022年全年相比有所下降,這是由於船用零部件的銷售下降,主要是拖船市場,但部分被政府安全市場安全產品銷售的增加所抵消,主要是在第四季度與上述試點項目有關。2023年第四季度歸屬於組件產品板塊的營業收入爲740萬美元,而2022年第四季度爲540萬美元,截至2023年12月31日和2022年12月31日的每年的營業收入爲2540萬美元。組件產品板塊在2023年第四季度的營業收入與2022年同期相比有所增加,這要歸因於安全產品的銷售額增加和毛利率百分比的提高,但部分被船用零部件銷售和毛利率百分比的下降所抵消。2023年全年的營業收入與2022年相當,原因是船用零部件銷售額的下降被安全產品和船用零部件報告部門的毛利率百分比提高所抵消,這主要是由於生產成本降低和安全產品銷售增加。

The Real Estate Management and Development Segment had sales of $9.7 million in the fourth quarter of 2023 compared to $20.2 million in the fourth quarter of 2022. For the full year of 2023 the Real Estate Management and Development Segment had sales of $93.9 million compared to sales of $125.7 million for the full year of 2022. Land sales revenue is generally recognized over time based on cost inputs, and land sales revenues are dependent on spending for development activities. Land sales revenues are also impacted by the relative timing of when new land parcel sales are closed. Land sales revenues decreased in the fourth quarter and full year of 2023 as compared to the same periods in 2022 primarily due to the decreased pace of development activity within the residential/planned community. The pace of development activities is dictated by a number of factors such as city permit and design approval and labor and materials availability. Recognition of tax increment infrastructure reimbursement of $25.2 million ($13.1 million, or $.46 per share, net of tax and noncontrolling interest) in the full year of 2023 and $15.2 million ($7.9 million, or $.28 per share, net of tax and noncontrolling interest) in the full year of 2022 are included in the determination of operating income. Our Real Estate Management and Development Segment also recognized a loss of $2.6 million ($1.3 million, or $.04 per share, net of tax and noncontrolling interest) related to the sale of a subsidiary in the fourth quarter of 2023.

房地產管理和開發板塊在2023年第四季度的銷售額爲970萬美元,而2022年第四季度的銷售額爲2,020萬美元。2023年全年,房地產管理和開發板塊的銷售額爲9,390萬美元,而2022年全年的銷售額爲1.257億美元。土地銷售收入通常根據成本投入在一段時間內予以確認,土地銷售收入取決於開發活動的支出。土地銷售收入還受到新地塊銷售結束的相對時間的影響。與2022年同期相比,2023年第四季度和全年的土地銷售收入有所下降,這主要是由於住宅/規劃社區內部的開發活動步伐放緩。開發活動的步伐由許多因素決定,例如城市許可和設計批准以及勞動力和材料的可用性。營業收入的確定中包括2023年全年2,520萬美元(扣除稅收和非控股權益後的1,310萬美元,合每股0.46美元)和2022年全年1,520萬美元(扣除稅收和非控股權益後的每股790萬美元,合每股0.28美元)的確認。我們的房地產管理和開發部門還確認了與2023年第四季度出售子公司相關的260萬美元虧損(130萬美元,扣除稅收和非控股權益後每股虧損0.04美元)。

Due to historically low water levels at Lake Mead, Nevada at the end of the second quarter of 2022, the Real Estate Management and Development Segment's subsidiary Basic Water Company (BWC) ceased operations at its water intake facility and on September 10, 2022 BWC and its subsidiaries voluntarily filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Nevada. The Real Estate Management and Development Segment recognized aggregate charges of $19.7 million related to BWC during 2022, including $16.4 million ($8.2 million, or $.29 per share, net of tax and noncontrolling interest), primarily in the second quarter, related to the impairment of the water delivery system fixed assets and, as a result of the bankruptcy filing of BWC in the third quarter, a $2.0 million ($1.0 million, or $.04 per share, net of tax and noncontrolling interest) loss on the deconsolidation of BWC and bad debt expense of $1.3 million ($.6 million, or $.02 per share, net of tax and noncontrolling interest) related to an intercompany receivable with BWC. These charges are all included in the determination of the Real Estate Management and Development Segment's operating income.

由於內華達州米德湖的水位在2022年第二季度末處於歷史最低水平,房地產管理和開發部門的子公司基礎水務公司(BWC)停止了其取水設施的運營,並於2022年9月10日自願向美國內華達特區破產法院申請了第11章的破產保護。房地產管理和開發板塊確認2022年與《生物武器公約》相關的總費用爲1,970萬美元,其中包括1,640萬美元(扣除稅收和非控股權益後的每股820萬美元,合0.29美元),主要集中在第二季度,與輸水系統固定資產減值有關,以及由於《生物武器公約》在第三季度申請破產而產生的200萬美元(合100萬美元,合0.04萬美元)《生物武器公約》解散後的每股(扣除稅收和非控股權益)虧損和壞賬支出130萬美元(合60萬美元)或每股0.02美元,扣除稅收和非控股權益),與與《生物武器公約》的公司間應收賬款有關。這些費用都包含在確定房地產管理和開發板塊的營業收入中。

Corporate expenses decreased 6% in the fourth quarter of 2023 as compared to the fourth quarter of 2022 primarily due to lower litigation fees and related costs. Corporate expenses decreased 5% in the full year of 2023 as compared to the full year of 2022 primarily due to lower administrative expenses. Interest income and other increased to $6.8 million in the fourth quarter of 2023 compared to $4.8 million in the fourth quarter of 2022 and $21.3 million for the full year of 2023 compared to $10.4 million in the full year of 2022 primarily due to higher average interest rates and increased investment balances.

與2022年第四季度相比,2023年第四季度的公司支出下降了6%,這主要是由於訴訟費和相關成本的降低。與2022年全年相比,2023年全年公司支出下降了5%,這主要是由於管理費用減少。利息收入和其他收入在2023年第四季度增至680萬美元,而2022年第四季度爲480萬美元,2023年全年爲2,130萬美元,而2022年全年爲1,040萬美元,這主要是由於平均利率提高和投資餘額增加。

Our net loss attributable to Valhi stockholders in 2023 includes a non-cash loss of $6.2 million ($3.8 million, or $.13 per share, net of tax and noncontrolling interest) related to the termination of a United Kingdom pension plan and a gain of $1.5 million ($1.1 million, or $.04 per share, net of tax) on the sale of land not used in our operations; both recognized in the second quarter.

我們在2023年歸屬於Valhi股東的淨虧損包括與終止英國養老金計劃相關的620萬美元(扣除稅收和非控股權益後的380萬美元,合每股0.13美元)以及出售未用於我們運營的土地的150萬美元(110萬美元,扣除稅後每股0.04美元)的收益;均在第二季度確認。

The statements in this press release relating to matters that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those predicted. While it is not possible to identify all factors, we continue to face many risks and uncertainties. Among the factors that could cause our actual future results to differ materially include, but are not limited to, the following:

本新聞稿中與非歷史事實事項相關的陳述是前瞻性陳述,代表管理層基於當前可用信息的信念和假設。儘管我們認爲此類前瞻性陳述中反映的預期是合理的,但我們無法保證這些預期是正確的。就其性質而言,此類陳述涉及大量風險和不確定性,可能會對預期結果產生重大影響,而未來的實際結果可能與預測的結果存在重大差異。儘管不可能確定所有因素,但我們仍然面臨許多風險和不確定性。可能導致我們未來實際業績出現重大差異的因素包括但不限於以下因素:

  • Future supply and demand for our products;
  • The extent of the dependence of certain of our businesses on certain market sectors;
  • The cyclicality of certain of our businesses (such as Kronos' TiO2 operations);
  • Customer and producer inventory levels;
  • Unexpected or earlier-than-expected industry capacity expansion (such as the TiO2 industry);
  • Changes in raw material and other operating costs (such as ore, zinc, brass, aluminum, steel and energy costs);
  • Changes in the availability of raw materials (such as ore);
  • General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy costs, reduce demand or perceived demand for TiO2, component products and land held for development or impair our ability to operate our facilities (including changes in the level of gross domestic product in various regions of the world, natural disasters, terrorist acts, global conflicts and public health crises);
  • Operating interruptions (including, but not limited to, labor disputes, leaks, natural disasters, fires, explosions, unscheduled or unplanned downtime, transportation interruptions, certain regional and world events or economic conditions and public health crises);
  • Technology related disruptions (including, but not limited to, cyber-attacks; software implementation, upgrades or improvements; technology processing failures; or other events) related to our technology infrastructure that could impact our ability to continue operations, or at key vendors which could impact our supply chain, or at key customers which could impact their operations and cause them to curtail or pause orders;
  • Competitive products and substitute products;
  • Customer and competitor strategies;
  • Potential difficulties in integrating future acquisitions;
  • Potential difficulties in upgrading or implementing accounting and manufacturing software systems;
  • Potential consolidation of our competitors;
  • Potential consolidation of our customers;
  • The impact of pricing and production decisions;
  • Competitive technology positions;
  • Our ability to protect or defend intellectual property rights;
  • The introduction of trade barriers or trade disputes;
  • The ability of our subsidiaries to pay us dividends;
  • Uncertainties associated with new product development and the development of new product features;
  • Fluctuations in currency exchange rates (such as changes in the exchange rate between the U.S. dollar and each of the euro, the Norwegian krone and the Canadian dollar and between the euro and the Norwegian krone) or possible disruptions to our business resulting from uncertainties associated with the euro or other currencies;
  • Decisions to sell operating assets other than in the ordinary course of business;
  • The timing and amounts of insurance recoveries;
  • Our ability to renew, amend, refinance or establish credit facilities;
  • Increases in interest rates;
  • Our ability to maintain sufficient liquidity;
  • The ultimate outcome of income tax audits, tax settlement initiatives or other tax matters, including future tax reform;
  • Our ability to utilize income tax attributes, the benefits of which may or may not have been recognized under the more-likely-than-not recognition criteria;
  • Environmental matters (such as those requiring compliance with emission and discharge standards for existing and new facilities, or new developments regarding environmental remediation or decommissioning obligations at sites related to our former operations);
  • Government laws and regulations and possible changes therein (such as changes in government regulations which might impose various obligations on former manufacturers of lead pigment and lead-based paint, including NL, with respect to asserted health concerns associated with the use of such products) including new environmental, health, safety, sustainability or other regulations (such as those seeking to limit or classify TiO2 or its use);
  • The ultimate resolution of pending litigation (such as NL's lead pigment and environmental matters);
  • Our ability to comply with covenants contained in our revolving bank credit facilities;
  • Our ability to complete and comply with the conditions of our licenses and permits;
  • Changes in real estate values and construction costs in Henderson, Nevada; and
  • Pending or possible future litigation or other actions.
  • 我們產品的未來供需;
  • 我們的某些業務對某些市場部門的依賴程度;
  • 我們某些業務的週期性(例如Kronos的TiO)2 操作);
  • 客戶和生產商庫存水平;
  • 意外或早於預期的行業產能擴張(例如TiO)2 工業);
  • 原材料和其他運營成本(例如礦石、鋅、黃銅、鋁、鋼和能源成本)的變化;
  • 原材料(例如礦石)可用性的變化;
  • 損害全球經濟、擾亂我們的供應鏈、增加材料和能源成本、減少對二氧化鈦的需求或感知需求的全球總體經濟和政治狀況2, 零部件產品和土地用於開發或損害我們運營設施的能力(包括世界各地區國內生產總值水平的變化、自然災害、恐怖行爲、全球衝突和公共衛生危機);
  • 運營中斷(包括但不限於勞資糾紛、泄漏、自然災害、火災、爆炸、計劃外或計劃外停機、運輸中斷、某些地區和世界事件或經濟狀況和公共衛生危機);
  • 可能影響我們持續運營能力的與我們的技術基礎設施相關的技術中斷(包括但不限於網絡攻擊;軟件實施、升級或改進;技術處理故障;或其他事件);可能影響我們供應鏈的關鍵供應商;或可能影響其運營並導致他們削減或暫停訂單的主要客戶;
  • 競爭產品和替代產品;
  • 客戶和競爭對手的策略;
  • 整合未來收購的潛在困難;
  • 升級或實施會計和製造軟件系統方面的潛在困難;
  • 競爭對手的潛在整合;
  • 我們客戶的潛在整合;
  • 定價和生產決策的影響;
  • 具有競爭力的技術職位;
  • 我們保護或捍衛知識產權的能力;
  • 引入貿易壁壘或貿易爭端;
  • 我們的子公司向我們支付股息的能力;
  • 與新產品開發和新產品功能開發相關的不確定性;
  • 貨幣匯率的波動(例如美元與歐元、挪威克朗和加元之間以及歐元和挪威克朗之間的匯率變化),或歐元或其他貨幣的不確定性可能導致我們的業務中斷;
  • 決定出售非正常業務過程中的運營資產;
  • 追回保險的時間和金額;
  • 我們續訂、修改、再融資或建立信貸額度的能力;
  • 提高利率;
  • 我們維持足夠流動性的能力;
  • 所得稅審計、稅收結算舉措或其他稅務事項的最終結果,包括未來的稅收改革;
  • 我們利用所得稅屬性的能力,這些屬性的好處可能已經得到認可,也可能不是,根據更有可能的認可標準,也可能沒有得到承認;
  • 環境問題(例如要求遵守現有和新設施的排放和排放標準的問題,或與我們以前的運營相關的場地的環境修復或退役義務方面的新開發項目);
  • 政府法律和法規及其可能的變化(例如政府法規的變化,這可能會對包括荷蘭在內的鉛顏料和鉛基塗料的前製造商施加各種義務,要求他們承擔與使用此類產品相關的健康問題),包括新的環境、健康、安全、可持續性或其他法規(例如尋求限制或分類二氧化鈦的法規)2 或其用途);
  • 未決訴訟(例如荷蘭的鉛顏料和環境問題)的最終解決方案;
  • 我們遵守循環銀行信貸額度中包含的契約的能力;
  • 我們完成和遵守我們的執照和許可證條件的能力;
  • 內華達州亨德森市房地產價值和建築成本的變化;以及
  • 未決或將來可能的訴訟或其他訴訟。

Should one or more of these risks materialize (or the consequences of such development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those currently forecasted or expected. We disclaim any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise.

如果其中一項或多項風險得以實現(或此類發展的後果惡化),或者如果基本假設被證明不正確,則實際結果可能與目前的預測或預期存在重大差異。無論是由於信息變化、未來事件還是其他原因,我們均不打算或有義務更新或修改任何前瞻性陳述。

Valhi, Inc. is engaged in the chemicals (TiO2), component products (security products and recreational marine components) and real estate management and development industries.

Valhi, Inc. 從事化學品業務(TiO2),組件產品(安全產品和休閒船用組件)以及房地產管理和開發行業。

*****

*****

Investor Relations Contact

投資者關係聯繫人

Bryan A. Hanley
Senior Vice President and Treasurer
Tel. 972-233-1700

布萊恩·A·漢利
高級副總裁兼財務主管
電話 972-233-1700

VALHI, INC. AND SUBSIDIARIES

VALHI, INC.和子公司

CONDENSED SUMMARY OF OPERATIONS
(In millions, except earnings per share)

簡要的操作摘要
(以百萬計,每股收益除外)

Three months ended Year ended
December 31, December 31,
2022 2023 2022 2023
(unaudited)
Net sales
Chemicals $ 342.4 $ 400.1 $ 1,930.2 $ 1,666.5
Component products 40.0 43.2 166.6 161.3
Real estate management and development 20.2 9.7 125.7 93.9
Total net sales $ 402.6 $ 453.0 $ 2,222.5 $ 1,921.7
Operating income (loss)
Chemicals $ (15.3) $ (1.6) $ 174.6 $ (41.1)
Component products 5.4 7.4 25.4 25.4
Real estate management and development 7.3 11.4 39.4 49.9
Total operating income (loss) (2.6) 17.2 239.4 34.2
General corporate items:
Interest income and other 4.8 6.8 10.4 21.3
Gain on land sales 1.5
Other components of net periodic pension and
OPEB expense
(4.1) (1.8) (13.9) (11.8)
Changes in market value of Valhi common stock held
by subsidiaries
(.7) .4 (1.6) (1.7)
General expenses, net (9.2) (8.8) (36.5) (34.7)
Interest expense (7.0) (6.9) (27.9) (28.3)
Income (loss) before income taxes (18.8) 6.9 169.9 (19.5)
Income tax expense (benefit) (8.3) (3.8) 33.8 (22.4)
Net income (loss) (10.5) 10.7 136.1 2.9
Noncontrolling interest in net income (loss) of subsidiaries (1.1) 6.8 45.9 15.0
Net income (loss) attributable to Valhi stockholders $ (9.4) $ 3.9 $ 90.2 $ (12.1)
Amounts attributable to Valhi stockholders:
Basic and diluted net income (loss) per share $ (.33) $ .14 $ 3.16 $ (.42)
Basic and diluted weighted average shares outstanding 28.5 28.5 28.5 28.5
三個月已結束 年終了
十二月三十一日 十二月三十一日
2022 2023 2022 2023
(未經審計)
淨銷售額
化學品 $ 342.4 $ 400.1 $ 1,930.2 $ 1,666.5
組件產品 40.0 43.2 166.6 161.3
房地產管理和開發 20.2 9.7 125.7 93.9
淨銷售總額 $ 402.6 $ 453.0 $ 2,222.5 $ 1,921.7
營業收入(虧損)
化學品 $ (15.3) $ (1.6) $ 174.6 $ (41.1)
組件產品 5.4 7.4 25.4 25.4
房地產管理和開發 7.3 11.4 39.4 49.9
總營業收入(虧損) (2.6) 17.2 239.4 34.2
一般公司物品:
利息收入和其他 4.8 6.8 10.4 21.3
出售土地的收益 1.5
定期淨養老金的其他組成部分以及
OPEB 開支
(4.1) (1.8) (13.9) (11.8)
持有的Valhi普通股市值的變化
按子公司劃分
(.7) .4 (1.6) (1.7)
一般開支,淨額 (9.2) (8.8) (36.5) (34.7)
利息支出 (7.0) (6.9) (27.9) (28.3)
所得稅前收入(虧損) (18.8) 6.9 169.9 (19.5)
所得稅支出(福利) (8.3) (3.8) 33.8 (22.4)
淨收益(虧損) (10.5) 10.7 136.1 2.9
子公司淨收益(虧損)中的非控股權益 (1.1) 6.8 45.9 15.0
歸屬於Valhi股東的淨收益(虧損) $ (9.4) $ 3.9 $ 90.2 $ (12.1)
歸屬於Valhi股東的金額:
基本和攤薄後的每股淨收益(虧損) $ (.33) $ .14 $ 3.16 $ (.42)
基本和攤薄後的加權平均已發行股數 28.5 28.5 28.5 28.5

VALHI, INC. AND SUBSIDIARIES
IMPACT OF PERCENTAGE CHANGE IN CHEMICAL SEGMENT'S NET SALES
(unaudited)

VALHI, INC.和子公司
化工板塊淨銷售額百分比變動的影響
(未經審計)

Three months ended Year ended
December 31, December 31,
2023 vs. 2022 2023 vs. 2022
Percentage change in TiO2 net sales:
TiO2 sales volumes 29% (13)%
TiO2 product pricing (11) (4)
TiO2 product mix/other (4) 2
Changes in currency exchange rates 3 1
Total 17% (14)%
三個月已結束 年終了
十二月三十一日 十二月三十一日
2023 年對比 2022 2023 年對比 2022
TiO 的百分比變化2 淨銷售額:
TiO2 銷量 29% (13)%
TiO2 產品定價 (11) (4)
TiO2 產品組合/其他 (4) 2
貨幣匯率的變化 3 1
總計 17% (14)%

Primary Logo

Source: Valhi, Inc.

資料來源:Valhi, Inc.

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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