Slide 1: Celanese Q3 2012 Earnings
1 Mark Rohr, Chairman and Chief Executive Officer Steven Sterin, Senior Vice President and Chief Financial Officer Celanese Q3 2012 Earnings Monday, October 22, 2012 EX 99.2
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements This presentation and remarks made as part of this presentation contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other
Slide 3: Non-US GAAP Financial Information
3 Non-US GAAP Financial Information Reconciliation of Non-U.S. GAAP Measures to U.S. GAAP This presentation reflects the following performance measures: operating EBITDA, business operating EBITDA, affiliate EBITDA and proportional affiliate EBITDA, adjusted earnings per share, net debt, and adjuste
Slide 4: Mark Rohr, Chairman and Chief Executive Officer
4 Mark Rohr Chairman and Chief Executive Officer
Slide 5: Continue to make progress on strategic initiatives
5 ►Announced innovative, new CelFXTM matrix technology for filter media ►Started up the Technology Development Unit for ethanol at our Clear Lake plant ►Continue to make progress on the construction of ethanol unit in Nanjing Continue to make progress on strategic initiatives Lower Volatility Strong
Slide 6: Q3 2012 highlights and financial summary
6 ► The acetyl industry continues to experience trough-like conditions due to soft demand in Europe and Asia ► Portfolio of customer-oriented solution businesses delivered higher year-over-year (YoY) operating margins, driven by Advanced Engineered Materials ► Improved sequential and YoY Operating E
Slide 7: Steven Sterin, Senior Vice President and Chief Financial Officer
7 Steven Sterin Senior Vice President and Chief Financial Officer
Slide 8: Advanced Engineered Materials
8 Sequential (Q3’12 vs Q2’12) ► Higher pricing offset by lower volumes and unfavorable currency ► Improved base business earnings ► Lower equity earnings from strategic affiliates Year-over-Year (Q3’12 vs Q3’11) ► Higher pricing offset by lower volumes and unfavorable currency ► Sustained margins dr
Slide 9: Consumer Specialties
9 Sequential ► Lower Q3 volumes due to temporarily higher volumes in Q2 related to Q1 production interruption ► Modest earnings growth and margin expansion, excluding dividends from strategic affiliates of $83 million in Q2’12 YoY ► Earnings growth and margin expansion due to higher pricing on conti
Slide 10: Industrial Specialties
10 Sequential ► Lower pricing driven by weak demand for EVA applications ► Record quarterly earnings in Emulsions more than offset by weak demand for EVA applications YoY ► Lower pricing due to weak demand for EVA applications and lower raw material costs; unfavorable currency ► Record quarterly ear
Slide 11: Acetyl Intermediates
11 Sequential ► Lower pricing due to lower raw material costs and continued soft demand in Europe and Asia ► Flat margins as lower pricing was offset by lower raw material costs YoY ► Lower pricing and volumes due to temporarily elevated utilization in prior year and soft demand in Europe and Asia i
Slide 12: Strategic Affiliate Performance
12 ► Q3’12: equity affiliates contributed $50 million to earnings with an additional $38 million proportional Affiliate EBITDA not included in Operating EBITDA ► Equity and cost investment dividends were $38 million, down $10 million from Q3’11 ► Q4 Outlook: equity earnings from AEM’s strategic affi
Slide 13: Adjusted Free Cash Flow
13 12012 amounts primarily associated with cash outflows for purchases of other productive assets that are classified as ‘investing activities’ for U.S. GAAP purposes. 2011 amounts primarily associated with Fraport related cash expenses 2Excludes cash flows related to POM expansion in Germany ► Stro
Slide 14: Expected Uses of Cash in 2012
14 ► Dividend, debt service, option receipts, and share repurchases of ~$80-100 million ► Recently increased share repurchase authorization to $400 million, with $136 million remaining as of September 30, 2012 * Excludes cash outflows for capital expenditures of approximately $60 million related to
Slide 15: Appendix
15 Appendix Notes: References on the following slides to tables correspond to the tables included with Celanese press release dated October 22, 2012
Slide 16: Reg G: Business segment data and reconciliation of operating profit to operating EBITDA
16 Reg G: Business segment data and reconciliation of operating profit (loss) to operating EBITDA - a non-U.S. GAAP measure – unaudited (Table 1) Se pt em be r 3 0, Ju ne 30 , De ce m be r 3 1, Se pt em be r 3 0, (in $ m illi on s) 20 12 20 12 20 11 20 11 Ne t S al es Ad va nc ed E ng ine er ed M at
Slide 17: Reg G: Reconciliation of net earnings to operating EBITDA
17 Reg G: Reconciliation of consolidated net earnings (loss) to operating EBITDA - a non-U.S. GAAP measure – unaudited (Table 1A) September 30, June 30, December 31, September 30, (in $ millions) 2012 2012 2011 2011 Net earnings (loss) attributable to Celanese Corporation 117 210 95 167 (Earnings) l
Slide 18: Reg G: Adjusted earnings per share reconciliation
18 Reg G: Adjusted earnings (loss) per share - reconciliation of a non-U.S. GAAP measure – unaudited (Table 6) (in $ millions, except share and per share data) per share per share per share Earnings (loss) from continuing operations 119 0.74 210 1.31 167 1.05 Deduct: Income tax (provision) benefit (
Slide 19: Reg G: Other charges and other adjustments reconciliation
19 Reg G: Other charges and other adjustments - reconciliation of a non-U.S. GAAP measure – unaudited (Table 7) September 30, June 30, December 31, September 30, (in $ millions) 2012 2012 2012 2011 Employee termination benefits 1 1 4 5 Kelsterbach plant relocation 3 2 4 14 Plumbing actions (4) - - (
Slide 20: Q3 2012 Other charges and other adjustments by business segment
20 Q3 2012 Other charges and other adjustments by business segment - reconciliation of a non-U.S. GAAP measure - unaudited Income Statement in $ millions AEM CS IS AI Other Total Classification Employee termination benefits - 1 - 1 (1) 1 Kelsterbach plant relocation 3 - - - - 3 Plumbing actions (4)
Slide 21: Q2 2012 Other charges and other adjustments by business segment
21 Q2 2012 Other charges and other adjustments by business segment - reconciliation of a non-U.S. GAAP measure - unaudited Income Statement in $ millions AEM CS IS AI Other Total Classification Employee termination benefits - 2 - (1) - 1 Kelsterbach plant relocation 2 - - - - 2 Insurance recoveries
Slide 22: Q4 2011 Other charges and other adjustments by business segment
22 Q4 2011 Other charges and other adjustments by business segment - reconciliation of a non-U.S. GAAP measure - unaudited Income Statement in millions AEM CS IS AI Other Total Classification Employee termination benefits 3 1 - - - 4 Kelsterbach plant relocation 4 - - - - 4 Asset impairments - - - 1
Slide 23: Q3 2011 Other charges and other adjustments by business segment
23 Q3 2011 Other charges and other adjustments by business segment - reconciliation of a non-U.S. GAAP measure - unaudited Income Statement in millions AEM CS IS AI Other Total Classification Employee termination benefits 1 (2) - 2 4 5 Kelsterbach plant relocation 14 - - - - 14 Plumbing actions (2)
Slide 24: Reg G: Equity affiliate results and reconciliation to affiliate EBITDA
24 Reg G: Equity affiliate results and reconciliation of operating profit to affiliate EBITDA - a non-U.S. GAAP measure - total - unaudited (Table 8) September 30, June 30, September 30, (in $ millions) 2012 2012 2011 Net Sales Affiliates - Asia 1 431 441 428 Aff iliates - Middle East 2 281 380 334
Slide 25: Reg G: Proportional affiliate EBITDA reconciliation
25 Reg G: Equity affiliate results and reconciliation of proportional operating profit to proportional affiliate EBITDA - a non-U.S. GAAP measure - Celanese proportional share – unaudited (Table 8 continued) Se pt em be r 30 , Ju ne 3 0, Se pt em be r 30 , (in $ m ill io ns ) 20 12 20 12 20 11 P ro