Slide 1: Celanese 1Q 2011 Earnings Conference Call / Webcast
Dave Weidman, Chairman and Chief Executive Officer Steven Sterin, Senior Vice President and Chief Financial Officer Celanese 1Q 2011 Earnings Conference Call / Webcast Tuesday, April 26, 2011 10:00 a.m. ET
Slide 2: Forward looking statements; reconciliation and use of non-GAAP measures
Forward looking statements Reconciliation and use of non-GAAP measures to U.S. GAAP This presentation may contain "forward-looking statements," which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing nee
Slide 3: Dave Weidman, Chairman and Chief Executive Officer
Dave Weidman Chairman and Chief Executive Officer
Slide 4: Celanese Corporation 1st Quarter 2011 highlights
Celanese Corporation 1st Quarter 2011 highlights 1st Quarter 2011: Strong results driven by overall higher pricing and improved volume Resilient earnings growth in a higher raw materials environment Global demand remains healthy across all segments * See slides 20 and 21 for equity affiliate results
Slide 5: Expect at least $0.85 adjusted earnings per share improvement in 2011
Expect at least $0.85 adjusted earnings per share improvement in 2011 2x to 3x GDP revenue growth Strong earnings conversion Robust technology-rich pipeline Continued earnings growth Strong operating margins Growth opportunities in Asia Growth in Asia Process innovation and productivity High industr
Slide 6: Steven Sterin, Senior Vice President and Chief Financial Officer
Steven Sterin Senior Vice President and Chief Financial Officer
Slide 7: Advanced Engineered Materials
1st Quarter 2011: Strong volume growth across all product lines with robust value-in-use pricing Improved revenue offset by higher raw materials and investment for future growth Build of inventory for European expansion continues to constrain volumes Outlook: Startup of new POM facility in Europe su
Slide 8: Consumer Specialties
1st Quarter 2011: Higher volume on modestly higher global demand, as well as additional supply compared to Q1 2010 Higher pricing and volumes more than offset increased raw materials and energy costs Outlook: Dividends/earnings from China Acetate ventures expected to be modestly higher than 2010 cas
Slide 9: Industrial Specialties
1st Quarter 2011: Strong results with continued growth in traditional and nontraditional applications Expanded margins as higher volume, enhanced product mix and increased pricing more than offset higher raw material costs Increased demand for vinyl emulsions and EVA photovoltaic/medical application
Slide 10: Acetyl Intermediates
Acetyl Intermediates 1st Quarter 2011: Improved results on continued strong global demand for acetic acid and downstream derivative products Higher industry utilization due to planned and unplanned production outages of multiple acetyl producers Favorable pricing across all regions and product lines
Slide 11: Affiliate performance: emerging markets growth and raw material hedge
Provide growth in emerging markets and structural raw material hedge 1st Quarter 2011: equity affiliates contributed $43 million to earnings with an additional $35 million proportional Affiliate EBITDA not included in Operating EBITDA Outlook: dividends/earnings from China Acetate ventures expected
Slide 12: Free cash flow 1st Quarter 2011
Free cash flow 1st Quarter 2011 Adjusted Free Cash Flow Adjusted Free Cash Flow Adjusted Free Cash Flow $ in millions 1st Qtr 2011 1st Qtr 2010 Net cash provided by operating activities $132 $55 Adjustments to operating cash for discontinued operations - $3 Net cash provided by operating activities
Slide 13: Available cash; dividend, debt service and share repurchases
Dividend, debt service and share repurchases of ~$105-125 million Expect approximately $150 million net cash outflow for Kelsterbach expansion in 2011, including capital expenditures and project expense Strong cash generation continues throughout economic cycle Available Cash Available Cash Cash (as
Slide 14: Appendix
Appendix Notes: References on the following slides to tables correspond to the tables included with Celanese press release dated April 26, 2011
Slide 15: Reg G: Segment data and reconciliation of operating profit (loss) to operating EBITDA
Reg G: Segment data and reconciliation of operating profit (loss) to operating EBITDA - a non-U.S. GAAP measure - unaudited (Table 1)
Slide 16: Reg G: Reconciliation of consolidated net earnings (loss) to operating EBITDA
Reg G: Reconciliation of consolidated net earnings (loss) to operating EBITDA - a non-U.S. GAAP measure - unaudited (Table 1A)
Slide 17: Reg G: Adjusted earnings (loss) per share reconciliation
Reg G: Adjusted earnings (loss) per share - reconciliation of a non-U.S. GAAP measure - unaudited (Table 6)
Slide 18: Reg G: Other charges and other adjustments
Reg G: Other charges and other adjustments - reconciliation of a non-U.S. GAAP measure - unaudited (Table 7)
Slide 19: 1Q 2011 Other charges and other adjustments by segment
1Q 2011 Other charges and other adjustments by segment - reconciliation of a non-U.S. GAAP measure - unaudited
Slide 20: Reg G: Equity affiliate results and reconciliation to affiliate EBITDA
Reg G: Equity affiliate results and reconciliation of operating profit to affiliate EBITDA - a non-U.S. GAAP measure - total - unaudited (Table 8)
Slide 21: Reg G: Equity affiliate proportional results and affiliate EBITDA
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)