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VALHI FOR IMMEDIATE RELEASE Valhi , Inc. Three Lincoln Centre 5430 LBJ Freeway , Suite 1700 Dallas , Texas 75240-2620 PRESS RELEASE CONTACT : Janet G. Keckeisen Vice President - Investor Relations ( 972 ) 233-1700 VALHI REPORTS SECOND QUARTER 2021 RESULTS DALLAS , TEXAS . . August 5 , 2021. Valhi , Inc. ( NYSE : VHI ) reported net income attributable to Valhi stockholders of $ 21.4 million , or $ .75 per share , in the second quarter of 2021 compared to a net loss of $ 9.1 million , or $ .32 per share , in the second quarter of 2020. For the first six months of 2021 , Valhi reported net income attributable to Valhi stockholders of $ 36.2 million , or $ 1.27 per diluted share compared to net income of $ 15.3 million , or $ .54 per diluted share in the first six months of 2020. Net income attributable to Valhi stockholders increased in the second quarter of 2021 as compared to the second quarter of 2020 primarily due to higher operating results from all of our segments and a gain on the sale of land not used in our operations . Net income attributable to Valhi stockholders increased in the first six months of 2021 as compared to the first six months of 2020 primarily due to the net effects of higher operating results from our Chemicals and Component Products Segments , lower income from tax increment infrastructure reimbursement from our Real Estate Management and Development Segment in 2021and a gain on the sale of land not used in our operations in the second quarter of 2021 . The Chemicals Segment's net sales were $ 478.6 million in the second quarter of 2021 compared to $ 386.0 million in the second quarter of 2020 and $ 943.6 million in the first six months of 2021 compared to $ 807.0 million in the same period of 2020. The Chemicals Segment's net sales increased in the 2021 periods primarily due to higher sales volumes and higher average TiO2 selling prices . TiO2 sales volumes were 16 % higher in the second quarter of 2021 as compared to the second quarter of 2020 and 9 % higher in the first six months of 2021 compared to the same period in 2020 primarily due to higher demand in all major markets resulting from overall improvements in global economic activity in the 2021 periods compared to the same periods in 2020 due to the negative economic effects from the COVID - 19 pandemic in the second quarter of 2020. The Chemicals Segment's average TiO2 selling prices were 3 % higher in the second quarter of 2021 as compared to the second quarter of 2020 and 1 % higher in the first six months of 2021 as compared to the first six months of 2020. The Chemicals Segment's average TiO2 selling prices at the end of the second quarter of 2021 were 4 % higher than its average TiO2 selling prices at the end of 2020. TiO2 selling prices will increase or decrease generally as a result of competitive market pressures , changes in the relative level of supply and demand as well as changes in raw material and other manufacturing costs . Fluctuations in currency exchange rates ( primarily the euro ) also affected net sales comparisons , increasing our Chemicals Segment's net sales by approximately $ 22 million in the second quarter of 2021 and approximately $ 42 million in the first six months of 2021 as compared to the second quarter and first six months of 2020. The table at the end of this press release shows how each of these items impacted net sales . The Chemicals Segment's operating income in the second quarter of 2021 was $ 47.4 million as compared to $ 35.9 million in the second quarter of 2020 and $ 85.1 million for the six months ended June 30 , 2021 compared to $ 82.7 million for the same prior year period . The Chemicals Segment's operating income increased in the 2021 periods primarily due to higher sales volumes and higher average TiO2 selling prices , partially offset by higher manufacturing and other production costs , including higher costs for raw materials and energy . The Chemicals Segment's TiO2 production volumes were 2 % higher in the second quarter of 2021 as compared to the second quarter of 2020 and 1 % higher in the year - to - date period of 2021 due to adjustments to reduce production levels in 2020 as a result of the COVID - 19 pandemic . The Chemicals Segment's production facilities operated its production facilities at overall average capacity utilization rates of 99 % in the first six months of 2021 ( 97 % and 100 % in the first and second quarters of 2021 , respectively ) compared to 95 % in 2020 ( 95 % and 96 % in the first and second quarters of 2020 , respectively ) . Fluctuations in currency exchange rates also affected the year - to - date operating income comparison , which decreased operating income by approximately $ 17 million in the year - to - date 2021 period as compared to the same period of 2020. Fluctuations in currency exchange rates had a nominal effect on the second quarter operating income comparison . Page 1 of 6