Slide 1: Celanese 1Q 2010 Earnings Conference Call / Webcast
Dave Weidman, Chairman and CEO Steven Sterin, Senior Vice President and CFO Celanese 1Q 2010 Earnings Conference Call / Webcast Tuesday, April 27, 2010 10:00 a.m. ET
Slide 2: Forward Looking Statements and Non-GAAP Reconciliation
Forward Looking Statements Reconciliation and Use of Non-GAAP Measures to U.S. GAAP Forward-Looking Statements This presentation may contain "forward-looking statements," which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital
Slide 3: Dave Weidman, Chairman and Chief Executive Officer
Dave Weidman Chairman and Chief Executive Officer
Slide 4: Celanese Corporation 1Q 2010 highlights
Celanese Corporation 1Q 2010 highlights in millions (except EPS) 1st Qtr 2010 1st Qtr 2009 Net Sales $1,388 $1,146 Operating Profit/(Loss) ($14) $27 Adjusted EPS $0.67 $0.08 Operating EBITDA $246 $136 First Quarter 2010: Strong quarterly performance driven by growth strategies accelerating economic
Slide 5: Recent strategic actions build earnings power of portfolio
Recent strategic actions build earnings power of portfolio Project approved for Acetate expansion with current China partner of 30kt/a each tow and flake Consumer Specialties 2012+: Increased earnings through JV dividends Nanjing VAE / Emulsion capacity expansion Industrial Specialties 2011+: Volume
Slide 6: 2010 Earnings Improvement
Productivity Driven Tax Rate 2010 Earnings Improvement AEM: Strong volume on recovery and innovation AI: Technology, 2009 FIFO effect IS: Asia growth focus CS: Sustained performance and higher dividends from China ventures Pardies & Cangrejera closures Other manufacturing realignment SG&A realignmen
Slide 7: Steven Sterin, Senior Vice President and CFO
Steven Sterin Senior Vice President and CFO
Slide 8: Advanced Engineered Materials First Quarter 2010
First Quarter 2010: Record quarterly volume and earnings performance Strong end market demand and continued success in product innovation strategies Significant operating leverage demonstrated, reflecting leading industry engineered polymer technology Advanced Engineered Materials Outlook: Well posi
Slide 9: Consumer Specialties First Quarter 2010
First Quarter 2010: Lower volume due to timing of sales related to outage at manufacturing facility and modest end market softness Fixed spending reduction partially offset lower volumes and higher energy costs Consumer Specialties Outlook: Sequentially stronger volume with recovery of Q1 volume imp
Slide 10: Industrial Specialties First Quarter 2010
First Quarter 2010: Modest volume recovery in Emulsions and EVA performance polymers Growth in Asia and innovation drive revenue and volume growth Stable operation from EVA polymer performance manufacturing facility positively impacts volume 2009 results include divested PVOH business Industrial Spe
Slide 11: Acetyl Intermediates First Quarter 2010
Acetyl Intermediates First Quarter 2010: Advantaged acetic acid technology drives solid results Sustained acetic acid pricing and margin Year-over-year volume growth with rising raw material costs Dividends from the cost investments contributed $27 million to Operating EBITDA, $24 million higher tha
Slide 12: Earnings and dividend impact of affiliates
1Q 2010 1Q 2009 Dividends - Equity Investments 30 18 Dividends - Cost Investments 27 6 1Q 2010 1Q 2009 Earnings - Equity Investments 26 -2 Dividends - Cost Investments 27 6 First Quarter 2010: Earnings and dividend impact Higher dividends from Ibn Sina, driven by improved profitability Higher equity
Slide 13: Ibn Sina venture provides strategic value to Advanced Engineered Materials
Ibn Sina venture provides strategic value to Advanced Engineered Materials Venture extended until 2032 provides ongoing earnings POM manufacturing utilizes advantaged raw materials to support growing customer demand Increased economic participation yields higher earnings beyond 2013 Provides structu
Slide 14: Strong cash generation continues throughout economic cycle
Strong cash generation continues throughout economic cycle Available Cash Available Cash Cash (as of 3/31/2010) $1,139 Kelsterbach Project ~($70) Operating Cash ~($300) Cash Available for Strategic Purposes ~$800 Expect to continue to generate positive free cash flow Ticona Kelsterbach relocation: A
Slide 15: Appendix
Celanese Appendix
Slide 16: Free Cash Flow Q1 2010 Adjusted Free Cash Flow
Free Cash Flow Q1 2010 Adjusted Free Cash Flow Adjusted Free Cash Flow Adjusted Free Cash Flow $ in millions 1Q 2010 1Q 2009 Net cash provided by operating activities $55 $199 Adjustments to operating cash for discontinued operations $3 ($1) Net cash provided by operating activities from continuing
Slide 17: Ibn Sina dividend shift from Acetyls to Advanced Engineered Materials
Ibn Sina dividend shift from Acetyls to Advanced Engineering Materials reflects strategic direction Note: Reflects shift in dividends only. Not adjusted for move from cost to equity method of accounting. Will be reflected in 2Q 2010 10Q filing. 2007 1Q 2Q 3Q 4Q 15 15 26 22 252 731 330 653 As Reporte
Slide 18: 1Q 2010 Other Charges and Other Adjustments by Segment
1Q 2010 Other Charges and Other Adjustments by Segment
Slide 19: Reg G: Reconciliation of Adjusted EPS
Reg G: Reconciliation of Adjusted EPS
Slide 20: Reg G: Reconciliation of Net Debt
Reg G: Reconciliation of Net Debt
Slide 21: Reg G: Other Charges and Other Adjustments
Reg G: Other Charges and Other Adjustments
Slide 22: Reg G: Reconciliation of Operating EBITDA
Reg G: Reconciliation of Operating EBITDA
Slide 23: Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share
Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share - Unaudited