Celanese Corporation · NYSE:CE
Celanese — Q3 2009 Earnings Presentation
19 slides from Celanese's earnings presentation, Oct 27, 2009
Slide 1: Celanese 3Q 2009 Earnings Conference Call / Webcast
Dave Weidman, Chairman and CEO Steven Sterin, Senior Vice President and CFO Celanese 3Q 2009 Earnings Conference Call / Webcast Tuesday, October 27, 2009 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 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, capita
Slide 3: Dave Weidman, Chairman and Chief Executive Officer
Dave Weidman Chairman and Chief Executive Officer
Slide 4: Celanese Corporation 3Q 2009 highlights
Celanese Corporation 3Q 2009 highlights $ in millions (except EPS) 3rd Qtr 2009 3rd Qtr 2008 Net Sales $1,304 $1,823 Operating Profit/(Loss) $65 $151 Adjusted EPS $0.58 $0.78 Operating EBITDA $241 $314 Third Quarter 2009: Earnings reflect stabilization in demand across end markets Selected geographi
Slide 5: Steven Sterin, Senior Vice President and CFO
Steven Sterin Senior Vice President and CFO
Slide 6: Consumer Specialties: Third Quarter 2009
Third Quarter 2009: Improved performance with higher level of earnings driven by expanded margins Modest volume decline from reduction in consumer spending and inventory destocking in the late-cycle businesses Continues to be a strong cash generator Consumer Specialties $ in millions 3rd Qtr 2009 3r
Slide 7: Advanced Engineered Materials
$ in millions 3rd Qtr 2009 3rd Qtr 2008 Net Sales $220 $272 Operating EBITDA $56 $45 Advanced Engineered Materials Third Quarter 2009: Continued year-over-year volume pressure in NA/EU with growth in Asia across all industries Significant sequential EBITDA improvement for second consecutive quarter
Slide 8: Industrial Specialties
Third Quarter 2009: PVOH divestiture impact vs. 3Q 2008: approximately $74 million in net sales and $8 million in operating EBITDA Margins expand with lower raw material and energy costs, along with the benefits of fixed spending reductions, more than offsetting lower pricing Volume growth in Asia a
Slide 9: Acetyl Intermediates
Acetyl Intermediates $ in millions 3rd Qtr 2009 3rd Qtr 2008 Net Sales $666 $1,056 Operating EBITDA $105 $182 Third Quarter 2009: Decrease in net sales driven by lower industry pricing on lower industry utilization and lower raw material costs Results exclude $87 million in charges related to closur
Slide 10: Affiliate Performance: Income Statement and Cash Flows
3Q 2008 3Q 2009 3Q 2008 3Q 2009 Dividends - Cost Investments 35 19 Earnings - Equity Investments 19 19 3Q 2009: Earnings contribution decreased to $38 million from $54 million on lower dividends from cost affiliate and lower earnings from AEM equity affiliates AEM 3Q 2009 equity earnings benefited f
Slide 11: Solid cash generation: Adjusted Free Cash Flow
Solid cash generation Adjusted Free Cash Flow Adjusted Free Cash Flow Adjusted Free Cash Flow $ in millions 2009 YTD 2008 YTD Net cash provided by operating activities $408 $345 Adjustments to operating cash for discontinued operations $1 ($10) Net cash provided by operating activities from continui
Slide 12: 2010 Earnings Improvement
Productivity Driven Tax Rate Represents approximately $1.00 per share in 2010 earnings improvement 2010 Earnings Improvement AEM: Destocking complete AI: Technology, 2009 FIFO effect IS: Asia growth focus CS: Sustain performance Pardies & Cangrejera closures Other manufacturing realignment SG&A real
Slide 13: Appendix
© Celanese Appendix
Slide 14: 3Q 2009 Other Charges and Other Adjustments by Segment
3Q 2009 Other Charges and Other Adjustments by Segment
Slide 15: Reg G: Reconciliation of Adjusted EPS
Reg G: Reconciliation of Adjusted EPS
Slide 16: Reg G: Reconciliation of Net Debt
Reg G: Reconciliation of Net Debt
Slide 17: Reg G: Other Charges and Other Adjustments
Reg G: Other Charges and Other Adjustments
Slide 18: Reg G: Reconciliation of Operating EBITDA
Reg G: Reconciliation of Operating EBITDA
Slide 19: Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share
Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share - Unaudited