Slide 1: Celanese Q4 2011 Earnings Conference Call / Webcast
1 Dave Weidman, Chairman and Chief Executive Officer Steven Sterin, Senior Vice President and Chief Financial Officer Celanese Q4 2011 Earnings Conference Call / Webcast Tuesday, January 31st, 2012 10:00 a.m. ET Exhibit 99.2
Slide 2: Forward looking statements
2 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 n
Slide 3: Dave Weidman, Chairman and Chief Executive Officer
3 Dave Weidman Chairman and Chief Executive Officer
Slide 4: Q4 and full year 2011 highlights
4 Celanese Corporation Q4 and full year 2011 highlights in millions (except EPS) 4th Qtr 2011 4th Qtr 2010 FY 2011 FY 2010 Net Sales $1,614 $1,507 $6,763 $5,918 Proportional Net Sales from Affiliates $471 $426 $1,780 $1,623 Total: $2,085 $1,933 $8,543 $7,541 Operating Profit/(Loss) $97 $140 $690 $50
Slide 5: Value equation for Celanese
5 Value equation for Celanese Modest earnings volatility Relatively higher margins ~10-15% sustained earnings growth High capital return Translating higher-than-GDP top-line growth to sustained earnings growth Productivity Innovation Geographic Growth Portfolio Enhancements Earnings Growth of Curren
Slide 6: Steven Sterin, Senior Vice President and Chief Financial Officer
6 Steven Sterin Senior Vice President and Chief Financial Officer
Slide 7: Advanced Engineered Materials
7 4th Quarter 2011: ► Strong results despite challenging European economic environment ► Revenue growth as increased value-in-use pricing and revenues from recently acquired product lines offset modestly lower volume ► Higher pricing and higher income from affiliates more than offset higher raw mate
Slide 8: Consumer Specialties
8 4th Quarter 2011: ► Higher volume and pricing on increased global demand, primarily in acetate products ► Higher revenue more than offset by higher raw material and energy costs Outlook: ► First quarter volume and earnings impacted by operational interruption in the low to mid $20 million range ►
Slide 9: Industrial Specialties
9 4th Quarter 2011: ► Revenue growth driven by improved mix from innovative, non-traditional applications and geographic growth ► Higher pricing offset modestly lower volumes and higher raw material costs Outlook: ► Demand driven by innovative products ► Year-over-year earnings growth expected Indus
Slide 10: Acetyl Intermediates
10 4th Quarter 2011: ► Weakened European economy resulted in lower end-market demand and temporary inventory destocking across acetyls ► Higher pricing driven by higher raw materials ► Margins temporarily compressed as higher revenues were more than offset by higher raw material costs and the effect
Slide 11: Affiliate performance
11 ► FY 2011 results • Received $80 million of cash dividends from cost investments (Q2 2011) • Equity affiliates contributed $192 million to earnings with an additional $150 million proportional EBITDA not included in Operating EBITDA Affiliate performance 0 50 100 150 200 250 300 350 FY 2011 FY 20
Slide 12: Free cash flow
12 Free cash flow FY 2011 Adjusted Free Cash Flow $ in millions FY 2011 FY 2010 Net cash provided by operating activities $638 $452 Adjustments to operating cash for discontinued operations $9 $58 Net cash provided by operating activities from continuing operations $647 $510 Less: Capital expenditur
Slide 13: 2012E Adjusted Free Cash Outflows
13 2012E Adjusted Free Cash Outflows (off EBITDA Base) Cash Taxes $120 – $140 Capital Expenditures $350 – $400 Reserve/Other $190 – $200 Net Interest $190 – $200 Pension $100 – $125 Working Capital ($50) – $0 Adjusted Cash Outflows* $900 – $1,100 ► Dividend, share repurchases and required debt servi
Slide 14: Appendix Notes
14 Appendix Notes: References on the following slides to tables correspond to the tables included with Celanese press release dated January 31, 2012
Slide 15: Reg G: Segment data and reconciliation of operating profit to operating EBITDA
15 Reg G: Segment data and reconciliation of operating profit (loss) to operating EBITDA - a non-U.S. GAAP measure – unaudited (Table 1) (in $ m illi on s) 20 11 20 10 20 11 20 10 Ne t S al es Ad va nc ed E ng in ee re d Ma te ria ls 29 2 27 4 1, 29 8 1, 10 9 Co ns um er S pe cia ltie s 30 6 28 1 1,
Slide 16: Reg G: Reconciliation of net earnings to operating EBITDA
16 Reg G: Reconciliation of consolidated net earnings (loss) to operating EBITDA - a non-U.S. GAAP measure – unaudited (Table 1A) (in $ millions) 2011 2010 2011 2010 Net earnings (loss) attributable to Celanese Corporation 95 58 607 377 (Earnings) loss from discontinued operations 1 45 (1) 49 Intere
Slide 17: Reg G: Reconciliation of net debt
17 Reg G: Reconciliation of net debt - a non-U.S. GAAP measure – unaudited (Table 5) As of December 31, (in $ millions) 2011 2010 Short-term borrowings and current installments of long-term debt - third party and affiliates 144 228 Long-term debt 2,873 2,990 Total debt 3,017 3,218 Less: Cash and cas
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 per share Earnings (loss) from continuing operations 96 0.61 103 0.65 606 3.81 426 2.69 Deduct: Income tax (pr
Slide 19: Reg G: Other charges and other adjustments
19 Reg G: Other charges and other adjustments - reconciliation of a non-U.S. GAAP measure – unaudited (Table 7) Other Charges: (in $ millions) 2011 2010 2011 2010 Employee termination benefits 4 6 22 32 Ticona Kelsterbach plant relocation 4 9 47 26 Plumbing actions - (19) (6) (59) Insurance recoveri
Slide 20: Reg G: 4Q 2011 Other charges and adjustments by segment
20 Reg G: 4Q 2011 Other charges and other adjustments by 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 Plant/office closures - - - - - - Ticona Kelsterbach plant relocatio
Slide 21: FY 2011 Other charges and adjustments by segment
21 FY 2011 Other charges and other adjustments by segment - a Non-U.S. GAAP Measure – unaudited Income Statement in millions AEM CS IS AI Other Total Classification Employee termination benefits 8 4 - 4 6 22 Plant/office closures - - - - - - Ticona Kelsterbach plant relocation 47 - - - - 47 Plumbing
Slide 22: Reg G: Equity affiliate results and affiliate EBITDA
22 Reg G: Equity affiliate results and reconciliation of operating profit to affiliate EBITDA - a non-U.S. GAAP measure - total - unaudited (Table 8) (in $ millions) 2011 2010 2011 2010 Net Sales Ticona Affiliates - Asia 1 405 400 1,637 1,543 Ticona Affiliates - Middle East 2 353 205 1,204 923 Infra
Slide 23: Reg G: Proportional affiliate EBITDA reconciliation
23 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) (in $ m ill io ns ) 20 11 20 10 20 11 20 10 P ro po rt io na l N et S al es Ti co na A ff il