Celanese Corporation · NYSE:CE
Celanese — Investor Day (May 2010)
168 slides from Celanese's investor day presentation, May 11, 2010
Slide 1: Celanese Corporation - 2010 Investor Day
Celanese Corporation - 2010 Investor Day May 11, 2010
Slide 2: Agenda
Agenda Celanese Corporation 2010 Investor Day 8:30 a.m. Introduction/Agenda Mark Oberle Senior Vice President, Corporate Affairs 8:35 a.m. Celanese Corporation David Weidman Chairman and Chief Executive Officer 9:00 a.m. Advanced Engineered Materials Roeland Polet General Manager, Ticona Engineering
Slide 3: Forward-Looking Statements and 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, capital
Slide 4: Celanese Corporation
Celanese Corporation David Weidman Chairman and Chief Executive Officer
Slide 5: Celanese technology-focused portfolio
Celanese technology-focused portfolio - building on a track record of execution and value creation Celanese ($ in millions) 2009 Revenue: $5,082 2009 Operating EBITDA: $847 Revenue: $1,078 Operating EBITDA: $348 Revenue: $808 Operating EBITDA: $134 Revenue: $974 Operating EBITDA: $109 Revenue: $2,22
Slide 6: Growth opportunities represent an attractive investment
Celanese growth opportunities represent an attractive investment for shareholders Increasingly confident in strategic objective of $1.6 to $1.8 billion mid-term operating EBITDA Technology-focused; specialty materials Strategic affiliates: Add to attractive portfolio Leading portfolio with strategic
Slide 7: Portfolio well positioned for earnings growth
Consumer Specialties (Acetate Flake and Tow, High Intensity Food Sweetener) Industrial Specialties (Vinyl Emulsions and EVA Performance Polymers) Advanced Engineered Materials (Engineered Thermoplastics and Polymers) Acetyl Intermediates (Acetic Acid and Acetyl Derivatives) Cash generation with earn
Slide 8: Diversified end-use exposure
Note: End-use breakdown based on 2009 actual gross sales and internal estimates Other 8% Construction 4% Paints & Coatings 15% Automotive 8% Consumer & Medical Applications 11% Filter Media 20% Consumer and Industrial Adhesives 10% Textiles 6% Food and Beverage 5% Chemical Additives 4% Paper & Packa
Slide 9: Strategic affiliates add to portfolio
Total Company2 Strategic Rationale Strategic affiliates add to technology and specialty materials capability 1 Ibn Sina resegmented to AEM 2 Excludes Infraserv affiliates and includes intersegment eliminations Strategic affiliates add significant value to the Celanese portfolio Industrial Specialtie
Slide 10: Strategic affiliates enhance emerging economies opportunity
Strategic affiliates enhance emerging economies opportunity Note: End-use and geographic estimates based on Celanese 2009 gross sales with strategic affiliates proportional revenue and management estimates Other 8% Construction 3% Paints & Coatings 13% Automotive 11% Consumer & Medical Applications
Slide 11: Diverse exposure in Asia
Diverse exposure in Asia Note: End-use and geographic estimates based on Celanese 2009 gross sales with strategic affiliates proportional revenue Top AOC Sales by Country Japan 43% India 14% Indonesia 8% South Korea 7% Thailand 5% Singapore 5% Other 18% Revenue by Region (USD) Consolidated Revenue b
Slide 12: Portfolio enhancements drive improved performance
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 As Reported 0.11 0.1 0.11 0.11 0.16 0.17 0.19 0.2 0.17 0.17 Pro Forma for Current Portfolio 0.16 0.15 0.15 0.17 0.2 0.21 0.2 0.21 0.18 0.17 Operating EBITDA Margin Portfolio enhancements drive improved performance throughout an economic cycle 2001 Po
Slide 13: Shift to technology and specialty materials portfolio
Continuing to shift to technology and specialty materials portfolio Operating EBITDA Shift 2001* 2005* 2009* Mid Cycle EBITDA Specialty 280 438 591 1175 Commodity -43 0 0 Advantaged Commodity 173 648 357 575 ($ in millions) Reduced volatility Advantaged Intermediates Specialty Materials Commodity In
Slide 14: Portfolio moderates earnings volatility
Peak to trough EBITDA more comparable to specialty chemicals Celanese portfolio moderates earnings volatility Peak to Trough EBITDA % Change Peak to Trough EBITDA Margin % Change Note: Peak year defined as the best year in earnings (2005-2008) for all companies. Trough year defined as 2009. 2009 Act
Slide 15: Growth opportunities represent an attractive investment
Celanese growth opportunities represent an attractive investment for shareholders Increasingly confident in strategic objective of $1.6 to $1.8 billion mid-term operating EBITDA Technology-focused; specialty materials Strategic affiliates: Add to attractive portfolio Leading portfolio with strategic
Slide 16: What we told you last year
What we told you last year © Celanese Operating EBIT $1,600,909 mation |_| mI Ea 81100 miton '$800-1,000 million : 72008 Bese Productnty Gown Recosionary Normalized Econemie Operating nomation Recovery “Tends Trough Racowmry | Lever ‘ever é ri } f { 2006 - 2010 Strategic Objectives 2009 to “Recovery
Slide 17: Earnings growth levers
Economic Growth Participate in global economic recovery and industrial growth Global GDP growth expected to drive overall volume improvement off of 2009 base Innovation Value creation levers drive increased earnings Productivity Value-added products drive margin expansion Access to new application s
Slide 18: Confident in short-term earnings growth
Confident in short-term earnings growth 2010 2009 Geographic Growth Innovation Portfolio Productivity Economic Growth YOY Improvement +>$250 million operating EBITDA +>$1.25 Adjusted EPS Operating EBITDA $847 Adjusted EPS $1.71 Continued strength in emerging economies Nanjing expansion supports furt
Slide 19: Confident in short-term earnings growth
Geographic Growth Innovation Portfolio Productivity Economic Growth Confident in short-term earnings growth YOY Improvement +~$150 million operating EBITDA +~$0.75 Adjusted EPS YOY Improvement +>$250 million operating EBITDA +>$1.25 Adjusted EPS Low High In-Year Impact Continued growth in emerging e
Slide 20: Multiple strategic levers accelerate earnings growth
2009 2010 2011 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA Base 1250 1353 1392 1492 Add Add 103 39 100 108 Total 847 1100 1250 1600 Continued generation & deployment of cash Improved earnings power Accelerated topline growth Earnings power of advantaged portfolio Operating
Slide 21: Today's Celanese: Technology and Specialty Materials Company
2001* 2005* 2009* 2013 EBITDA Specialty 280 438 591 1150 Commodity -43 0 0 0 Advantaged Commodity 173 648 357 550 Today's Celanese: A Technology and Specialty Materials Company "Undifferentiated Era" "Hybrid Transition" "Technology & Specialty Materials Era" Advantaged Intermediates Specialty Materi
Slide 22: Growth opportunities represent an attractive investment
Celanese growth opportunities represent an attractive investment for shareholders Increasingly confident in strategic objective of $1.6 to $1.8 billion mid-term operating EBITDA Leading portfolio with strategic affiliates Significant mid-term earnings growth opportunities Celanese-specific value gro
Slide 23: Key valuation metrics vs Dow Jones Chemical Index
Continuing to shift to technology focused specialty materials portfolio Note: CEX defined as DOW Jones chemical index as of April 2010; measurements using First Call consensus estimates 2009 - 2011 Key Valuation Metrics vs Dow Jones Chemical Index (CEX) Bottom Quartile Third Quartile Second Quartile
Slide 24: Growth opportunities represent an attractive investment
Celanese growth opportunities represent an attractive investment for shareholders Increasingly confident in strategic objective of $1.6 to $1.8 billion mid-term operating EBITDA Technology-focused; specialty materials Strategic affiliates: Add to attractive portfolio Leading portfolio with strategic
Slide 25: Advanced Engineered Materials
Advanced Engineered Materials Roeland Polet General Manager
Slide 26: Advanced Engineered Materials: Performance driven solutions
Fortron Industries Ownership 50% Korea Engineering Plastics Ownership 50% Polyplastics Ownership 45% Ticona Advanced Engineered Materials: Delivering performance driven solutions in specialty materials Celanese ($ in millions) 2009 Revenue: $5,082 2009 Operating EBITDA: $847 Advanced Engineered Mate
Slide 27: Specification driven business model
~70% of Ticona business is specification-based AEM: Specification driven business model End-use Customers OEMs Raw Material Supplier AEM Solutions - processing expertise and material performance Material and Performance Specifications AEM Injection molding Extrusion Converter Manufacturer Monomer an
Slide 28: ~70% of Ticona business is specified
Ticona Polyamide Poly- propylene Poly- carbonate 70 29 7 14 Average Specification by Material Type Relative % Specified ~70% of Ticona business is uniquely specified 2001 2005 2010E 1 1.414673046 1.834130781 7% Revenue CAGR Revenue Growth since 2001 Revenue indexed to 2001 Business model drives grow
Slide 29: Significant earnings growth in specialty materials
Increasing contribution from strategic affiliates Accelerated revenue growth of 8 to 10% Strong earnings conversions AEM: Significant earnings growth in specialty materials Operating EBITDA 2009 2010 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA Base 350 400 435 465 Add Add 5
Slide 30: Platforms for significant revenue expansion
Platforms for significant revenue expansion Revenue Opportunity ($ in millions) Innovation Emerging economies Portfolio enhancements $50 - $100 Economic growth Accelerated Growth Through:
Slide 31: High-performance technology-focused product portfolio
^ ^ ^ ^ ^ Polyphenylene sulfide (Fortron(r)) ^ ^ ^ ^ ^ Ultra-high molecular weight PE (GUR(r)) ^ ^ ^ High-performance, technology-focused product portfolio ^ ^ ^ Polyester engineering resins (Celanex(r) Thermx(r)) ^ ^ ^ ^ Long-fiber reinforced thermoplastic (Celstran(r)) ^ ^ ^ ^ Liquid crystal polym
Slide 32: Recent portfolio enhancements
FACT LFT Acquisition Recent portfolio enhancements build on advantaged specialty materials Expands customer/application space Enables manufacturing footprint optimization Adds technology capabilities Extends current relationship and advantaged raw material position Increases economic participation S
Slide 33: DuPont LCP and PCT businesses
Ticona LCP Mid-Cycle Sales East 75 75 200 185 Strategic Drivers Benefits to Ticona Summary Acquired Zenite(r) liquid crystal polymer business from DuPont Includes Thermx(r) high performance polyester resin Purchase price: ~$60 million Post synergy multiple: < 5x DuPont LCP and PCT Businesses Expands
Slide 34: Recent transactions enhance portfolio offerings
Recent transactions enhance the portfolio offerings and enable future growth Strategic Drivers Benefits to Ticona Summary Will construct 50 kt POM facility in the Middle East Increases interest in venture from 25% to 32.5% at POM launch and extends until 2032 <6x expected multiple post POM productio
Slide 35: Well positioned for demand from emerging economies
Well positioned to meet increasing demand from emerging economies 2006 2007 2008 2009 2010E Developed Countries 222 244 209 145 231 AEM Affiliate Revenue AEM Strategic Affiliates Footprint Ibn Sina Al Jubail, Saudi Arabia Korean Engineered Plastics Ulsan, Korea Polyplastics JV Nantong, China 2006 20
Slide 36: Platforms for significant revenue expansion
Platforms for significant revenue expansion Revenue Opportunity ($ in millions) Innovation Emerging economies Portfolio enhancements Economic growth $150 - $200 Accelerated Growth Through:
Slide 37: Diverse end-use industries support growth
Automotive Medical Consumer Electronics Developed 5 - 7% 3 - 5 % 2 - 4% 4 - 6% Emerging 7 - 10% 7 - 10% 8 - 10% 8 - 10% Automotive Medical Consumer Industrial E&E Alt. Fabrication East 44 13 13 16 6 7 West North Diverse end-use industries and global presence support growth opportunities 6% Consumer
Slide 38: Global automotive production foundation for growth
Historic High 2009 2010E 2011E 2012E 2013E Developed Countries 71 59.9 69.3 75.7 81.6 85.8 Emerging Countries Global Automotive Production Global automotive production provides solid foundation for growth 2009 - 2013 CAGR: 10% Key Production Growth by Country Brazil South Korea India Germany US Japa
Slide 39: Platforms for significant revenue expansion
Platforms for significant revenue expansion Revenue Opportunity ($ in millions) Innovation $150 - $200 Emerging economies Portfolio enhancements Economic growth Accelerated Growth Through:
Slide 40: Application development drives value per vehicle
Estimated Value per Vehicle 2005 2007 2009 % Medical in total sales 1 102.6435525 1.426157999 Ticona Polymers Weight per Vehicle Application development with key customers drives increasing value per vehicle 2005 2007 2009 Ticona Pounds Per Vehicle 1 1.059027205 1.157625721 Ticona Polymers Value per
Slide 41: Engineered thermoplastics drive innovation: powertrain
Fuel Efficiency Potential Growth Average ETPs Engineered thermoplastic polymers (ETPs) drive customer innovation 2007 Platform 2013/2014 Platform Interior Powertrain Exterior 5.0 lbs 2.1 lbs 2.0 lbs 40 - 50% 40 - 50% 150 - 175% Key Global Automotive Trends Fuel Efficiency Increase fuel economy stand
Slide 42: Engineered thermoplastics drive innovation: safety
Safety Systems Potential Growth Average ETPs Fuel Efficiency Increase fuel economy standards Lighter weight vehicles Alternative fuels Enhanced sensing technology Increased "computing power" Emerging hybrid technologies Vehicle 'Electronification' Engineered thermoplastic polymers drive customer inn
Slide 43: Engineered thermoplastics drive innovation: electrical
Key Global Automotive Trends Fuel Efficiency Increase fuel economy standards Lighter weight vehicles Alternative fuels Increased regulatory requirements Converging global standards Enhanced sensing technology Increased "computing power" Emerging hybrid technologies Safety Enhancement Vehicle 'Electr
Slide 44: Innovation fuels significant opportunity
Fuel Efficiency Electrical Systems Engineered thermoplastic polymers drive customer innovation Innovation fuels significant opportunity Key Global Automotive Trends Safety Systems Source: Celanese internal estimates ~11 lbs Average ETPs 2013/2014 Platform 75 - 100% Potential Growth Growth Trends 200
Slide 45: Growth in medical space
Ticona Sales to Medical End Use Growth in medical space with new application development 2006 2007 2008 2009 2010E % Medical in total sales 45.75 61.8 84.88 105.04 115 Surgical Tools Orthopedic implants Inhalers Drug Delivery Systems Ticona products in Medical Applications Underlying Fundamental Tre
Slide 46: Electronics applications growth
Forecasted PC Shipments Consumers and producers both drive growth in electronics applications Pin Density Wall Thickness Emission Requirements Temperature Requirements Time Relative Change in Requirements 2009 2010E 2011E 2012E 2013E PC Shipments 100 117 137 160 187 Enhanced technology experience Fa
Slide 47: Technology expands application space opportunity
Technology expands application space opportunity Innovation accelerates top-line growth Polymer Technology Breakthrough polymer modifications New Application Development Existing specified business New Translating products into new applications Innovation Focused Growth Underlying Fundamentals Pipel
Slide 48: Platforms for significant revenue expansion
Platforms for significant revenue expansion Revenue Opportunity ($ in millions) Innovation $50-$100 Emerging economies Portfolio enhancements Economic growth Accelerated Growth Through:
Slide 49: Global platforms require global solutions
Global platforms require global solutions Ticona ETPs Penetration per Vehicle Developed Regions Emerging Regions 2 4 6 8 Average Pounds per Vehicle Significant Translation Opportunity Global Platforms Need Global Solutions Ticona Application Development Centers Strong translation growth with increas
Slide 50: Significant earnings growth in specialty materials
Increasing contribution from strategic affiliates Accelerated revenue growth of 8 to 10% Strong earnings conversions AEM: Significant earnings growth in specialty materials Operating EBITDA 2009 2010 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA Base 350 400 435 465 Add Add 5
Slide 51: Consumer Specialties
Consumer Specialties Todd Elliott General Manager
Slide 52: Consumer Specialties: Record earnings in 2009
Consumer Specialties Nutrinova Consumer Specialties: Record earnings performance in 2009 Earnings growth driven by manufacturing productivity and geographic expansions, not GDP dependent Leading acetate position in China; highest growth region for end-use products Strong global presence in food ingr
Slide 53: Global integrated model provides competitive advantage
Acetate Flake Acetate Tow Nutrinova Acetic Acid Acetic Anhydride Esters and Other Derivatives Global integrated model provides Celanese with competitive advantage Acetyl technology advantage builds through integrated supply position Significant process technology embedded in Consumer Specialities Bu
Slide 54: Consumer Specialties: Sustained improvements
Significant near-term productivity opportunities Well positioned for growth through Acetate China ventures Consistent growth in earnings Consumer Specialties: Sustained improvements 2009 2010 Geographic Growth Productivity 2013 EBITDA Base 359 367 Add Add 8 59 Total 348 359 426 Operating EBITDA $348
Slide 55: Consumer Specialties overview
Acetate Nutrinova Consumer Specialties overview: Record earnings performance in 2009 Strong cash generating business Capacity aligned with global customer growth Long-standing relationship with China strategic ventures History of successful manufacturing realignment and productivity Consumer Special
Slide 56: Acetate tow industry profile
Acetate Tow Global Demand - 2009 Acetate Tow Competition - 2009 Acetate tow industry profile Low single-digit global growth Asia is largest global consumer and fastest growing region 2009 global demand is ~720kt 2009 Estimates Asia 394 Americas 84 W. Europe 90 E. Europe 123 ROW 27 2008 Q1 to Q3 GAMA
Slide 57: Industry efficiently deploys investments
Industry efficiently deploys investments Acetate tow industry regional supply alignment 2005 2006 2007 2008 2009 Americas EU Asia 05 Tow Capacity 320 195 226 09 Tow Capacity 304 204 275 Regional Industry Capacity (kt) 2009 Tow Capacity 2004 Tow Capacity Industry Overview Industry-wide capacity align
Slide 58: Celanese Acetate consistently delivered earnings growth
2004 2005 2006 2007 2008 2009 2010E 138 161 228 273 287 298 298 a 274.0401104 293.2334998 347.9663186 348 b c d Celanese Acetate has consistently delivered earnings growth Consumer Specialties: Successful revitalization and continued execution of current strategy Consumer Specialties Operating EBITD
Slide 59: Capacity realignment strengthens strategic footprint
Capacity realignment strengthens strategic footprint Tow Production Flake Production Nantong, China (Approved Expansion) Lanaken, Belgium Spondon, United Kingdom (Proposed Consolidation) Narrows, Virginia Ocotlan, Mexico Kunming, China Zhuhai, China Projected Industry Tow Demand: 2010-2015 Affiliate
Slide 60: Manufacturing footprint optimization
Manufacturing footprint optimization Optimizing Global Footprint and Cost Position Proposed closure of Spondon, UK facility in mid-to-late 2011 Acetate capacity in-line with global demand shifts Build on unique flexibility of Celanese manufacturing network Opportunity to significantly improve cost p
Slide 61: 25+ year partnership in fastest growing region
25+ year partnership in fastest growing region Track record of successful expansions Expansion of Nantong Acetate venture addresses portion of expected additional demand 30kt of additional flake and tow capacity Expected to be complete by end of 2012 Positive contributions from additional dividends
Slide 62: China position continues to strengthen portfolio
2004 2005 2006 2007 2008 2009 2010E EBITDA 6.8 4.5 21 37 46 56 71 9.6 12.7 5.4 China position continues to strengthen portfolio Acetate Dividends Dec 2009 - Announced Memorandum of understanding for next phase of China expansion April 2010 - Approved Memorandum of understanding NDRC approval Expansi
Slide 63: Further growth in Acetate earnings power
Further growth in Acetate earnings power Consumer Specialties EBITDA projections 2009 2010E 2011E 2012E 2013E 2014E New Earnings Target Consumer Specialties Operating EBITDA and Dividends 2009 - 2014E Ongoing Ongoing New New New growth Next China expansion Manufacturing realignment Maintain foundati
Slide 64: Consumer Specialties: Sustained improvements
Significant near-term productivity opportunities Well positioned for growth through Acetate China ventures Consistent growth in earnings Consumer Specialties: Sustained improvements 2009 2010 Geographic Growth Productivity 2013 EBITDA Base 359 367 Add Add 8 59 Total 348 359 426 Operating EBITDA $348
Slide 65: Industrial Specialties
Phil McDivitt General Manager Industrial Specialties
Slide 66: Industrial Specialties: Technology and innovation drive growth
EVA Performance Polymers Emulsions 2009 Revenue: $974 2009 Operating EBITDA: $109 Consumer Specialties Industrial Specialties: Technology and innovation drive growth throughout Acetyls chain Innovation driving business growth opportunities Leading vinyl emulsions position in emerging economies Leadi
Slide 67: Industrial Specialties builds on global Acetyl leadership
Industrial Specialties builds on Celanese global Acetyl leadership Emulsions EVA Performance Polymers Consumes 20% of Celanese-produced VAM Provides optionality through the chain Innovation drives volume growth and adds value to Acetyl chain Acetyls Celanese Acetyl Value Chain Source: Celanese inter
Slide 68: Industrial Specialties: Balanced earnings growth
Advantaged chemistry Innovation through new vinyl technology Emerging region growth Industrial Specialties: Balanced earnings growth Operating EBITDA 2009 2010 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA Base 120 135 162 189 Add Add 15 27 27 25 Total 94 120 214 15 $109 mill
Slide 69: Leveraging strengths to enhance vinyl leadership
Leveraging strengths to enhance our vinyl leadership Geographic Growth Build on established position in China Leading vinyl solutions in emerging regions Innovation Drive vinyl technology innovation Create new application opportunities Vinyl Chemistry Leadership Vinyl System Advantages Advantaged 'l
Slide 70: Emulsions well positioned in each region
Emulsions well positioned in each region to drive growth Geographic Growth Build on established position in China Leading vinyl solutions in emerging regions Innovation Drive vinyl technology innovation Create new application opportunities Vinyl Chemistry Leadership Vinyl System Advantages Advantage
Slide 71: Global manufacturing footprint
Global manufacturing footprint optimizes current demand and provides platform for future growth Source: Celanese internal estimates Technology Center Manufacturing Plant Well positioned in China to capture demand in emerging regions 2-3% 10-12% Emulsions Regional Growth Rates 2-3% US Europe Asia
Slide 72: Nanjing expansion supports vinyl system growth
Nanjing expansion supports vinyl system growth Vinyl system leadership Focus on product technology differentiation Partner with leading Western and Chinese companies 2008 Nanjing I Achieved a leading position in China for key segments Sales growth 18 months ahead of plan Developed business in other
Slide 73: Adoption of vinyl technology drives geographic growth
Adoption of vinyl technology drives geographic growth 2013 Estimated Celanese Emulsions Net Sales 35% 50% 15% Accelerating use of vinyl systems in emerging economies Source: Celanese internal estimates
Slide 74: Technology leadership accelerates earnings
Technology leadership accelerates earnings Geographic Growth Build on established position in China Leading vinyl solutions in emerging regions Innovation Drive vinyl technology innovation Create new application opportunities Vinyl Chemistry Leadership Vinyl System Advantages Advantaged 'light feeds
Slide 75: Macro drivers for innovation-based growth
Macro drivers for innovation-based growth Macro Drivers Consumer: Environmentally-sensitive Comfort and convenience Compliance: Global VOC legislation Building and product certification Customer: Improved cost-in-use Reduced volatility Green construction binders Photovoltaic cells encapsulant Appare
Slide 76: BriteCoat emulsions technology for paper
Traditional vinyl technology give superior print characteristics but limited strength New vinyl technology maintains superior print performance with equal to or superior strength (IP filed) Initial launch in North America BriteCoat(tm) emulsions technology for the paper segment SB SBX SA Vinyl Paper
Slide 77: Target applications where EVA brings unique value
Target applications where EVA brings unique value Extend current medical grade EVA polymers into medical packaging and devices Opportunity for premium pricing in medical grades Ateva(tm) EVA performance polymer uniquely positioned to capture growth EVA Technology for Medical Use Medical End Uses Bui
Slide 78: Gaining traction from technology leadership
Gaining traction from technology leadership and applied innovation 2009 accomplishments Medical: Developed new grade for market expansion Carpet/Textiles: New vinyl technology Paper: New vinyl technology to improve functionality and end-use opportunities Construction: New grades focused on improving
Slide 79: Balanced opportunities across multiple segments
Balanced opportunities across multiple segments Consumer: Environmentally-sensitive Comfort and convenience Compliance: Global VOC legislation Building and product certification Customer: Improved cost-in-use Reduced volatility Macro Drivers Coatings Paper/Packaging Carpet/Textiles Construction 500
Slide 80: MONTHLY 1/1/2006 2/1/2006 3/1/2006 4/1/2006 5/1/2006 6/1/2006 7/1/2006 8/1/2006 9/1/2006 10/1/2006 11/1/2006 12/1/200…
MONTHLY 1/1/2006 2/1/2006 3/1/2006 4/1/2006 5/1/2006 6/1/2006 7/1/2006 8/1/2006 9/1/2006 10/1/2006 11/1/2006 12/1/2006 1/1/2007 2/1/2007 3/1/2007 4/1/2007 5/1/2007 6/1/2007 7/1/2007 8/1/2007 9/1/2007 10/1/2007 11/1/2007 12/1/2007 1/1/2008 2/1/2008 3/1/2008 4/1/2008 5/1/2008 6/1/2008 7/1/2008 8/1/200
Slide 81: Industrial Specialties: Balanced earnings growth
Advantaged chemistry Innovation through new vinyl technology Emerging region growth Industrial Specialties: Balanced earnings growth Operating EBITDA 2009 2010 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA Base 120 135 162 189 Add Add 15 27 27 25 Total 94 120 214 15 $109 mill
Slide 82: Acetyl Intermediates
Acetyl Intermediates John Fotheringham General Manager
Slide 83: Acetyl Intermediates: 2009 Performance
Vinyl Acetate Monomer Acetic Acid Advanced Engineered Materials Acetyl Intermediates: 2009 Performance Celanese ($ in millions) 2009 Revenue: $5,082 2009 Operating EBITDA: $847 Acetyl Intermediates 2009 Revenue*: $2,603 2009 Operating EBITDA: $357 Extended acetyl value chain Leading global position
Slide 84: Acetyls: Growth fueled by innovation
Continued global growth throughout the Acetyl chain Stable Acetic Acid margins reflect technology advantage Acetyls: Growth fueled by innovation Operating EBITDA Technology innovation further improves operating position 2009 2010 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA
Slide 85: Clear and sustainable advantage in acetic acid
Broad Acetyl portfolio and global reach Clear and sustainable advantage in acetic acid Sustainable competitive advantages provide growth and productivity opportunities Differentiated cost curve remains intact Sustainable position on industry cost curve Balanced global position for diverse applicatio
Slide 86: Acetic acid technological advantage
Raw Material and Conversion Cost Advantages Capital Advantages Source: Various press releases, 2007 China Acetic Acid Conference and Celanese internal estimates Significant acetic acid technological advantage provides unique position in the industry CE AOPlus 2 CE AOPlus at 600 kt Chinese Technology
Slide 87: Process innovation drives EBITDA opportunities
Process innovation to drive over $50 million of EBITDA opportunities Variable Cost ($/t) Acetic Acid Technology Comparisons Source: Celanese internal analysis, available public information; based on recent raw material costs Dis-advantaged Technology Lowest Cost Local China Celanese Celanese Near Te
Slide 88: Extended Acetyl technology advantage
Specialty Products Differentiated Intermediates An extended Acetyl technology advantage through downstream integration Acetyl Technology Position High Lower Patented advantages Differentiated processes Unique applications High Process Technology Application Technology Leading technology in building
Slide 89: Clear and sustainable advantage in acetic acid
Broad Acetyl portfolio and global reach Clear and sustainable advantage in acetic acid Sustainable competitive advantages provide growth and productivity opportunities Differentiated cost curve remains intact Sustainable position on industry cost curve Balanced global position for diverse applicatio
Slide 90: Acetyl Intermediates revenue detail
Acetyl Intermediates Revenue Detail* Opportunities in Downstream Derivatives 2009 Total Acetyl Revenue Non Acetyl Products Acetic Acid Derivatives Acetic Acid Outside China Acetic Acid China Base 2.6 Underlying 2.2 0.7 0.24 Detail 0.4 1.5 0.46 0.24 Earnings growth not dependent on acetic acid margin
Slide 91: Celanese attractive position in acetyls
Celanese Eastman Dairen Ineos Showa Denko Lyondell Dow Daicel Jiangmen Others 2008 21 7 5 4 3 3 3 2 2 2 2 2 2 1 1 1 1 1 1 1 1 32 Global Acetyl Derivatives - 2009 Global Acetic Acid - 2009 Celanese Celanese Expansion BP Sopo Lyondell Kyodo Sakusan Wujing Others 2009 24 21 5 4.5 3.8 4.4 35 Celanese co
Slide 92: Global Acetyl industry demand
Global Acetyl Industry Demand Geographic growth provides more than $25 million of EBITDA opportunity 2005 2006 2007 2008 2009 2010E 2011E 2012E 2013E Long-term Growth Americas 4652 4803 4656 4498 4318 4366 4461 4578 4678 Europe 3984 3990 4135 3948 3709 3753 3845 3944 4039 Asia Outside China 4334 451
Slide 93: Leading low-cost global footprint
All capacity values shown in kt per year Leading low-cost global footprint positioned and able to meet growing customer demand Strategically positioned acetic acid assets employ leading technology Downstream assets located in-region for low cost-to-serve Global assets economically scaleable to facil
Slide 94: Solvent consumption provides acetyl opportunities
Oil Based Solvents Acetic Acid Based Solvents Short-term Opportunity Long-term Opportunity 2010 31 39 10 20 Solvent consumption provides opportunities for increased acetyl demand Global Solvent Industry: $7 billion More sustainable priced acetic acid may facilitate further growth Switching difficult
Slide 95: Clear and sustainable advantage in acetic acid
Broad Acetyl portfolio and global reach Clear and sustainable advantage in acetic acid Sustainable competitive advantages provide growth and productivity opportunities Differentiated cost curve remains intact Sustainable position on industry cost curve Balanced global position for diverse applicatio
Slide 96: China acetic acid pricing
Henan Shunda Pricing has remained at expected levels despite recent capacity additions China Acetic Acid Industry Pricing* * Source: ICIS NE Asia Average Acetic Acid Spot Pricing Celanese profitability remains attractive Pricing for CE to earn >15% EBITDA Inventory Destocking 200 300 400 500 Jan-09
Slide 97: China capacity project timeline
Company 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Yankuang Cathay Daqing Wujing BP Nanjing Shaanxi Yulin Henan Shunda Yunnan Yunwei Shaanxi Yanchang Tianjin Bohai Hualu Hengsheng Kingboard Yankuang Henan Yima Sopo Chang Chun (Taiwan) Wujing (Huayi Anhui) BP Chongqing Yankuang Yongmei Lo
Slide 98: 2010E acetic acid cost curve
2010E Acetic Acid Cost Curve Source: Celanese internal estimates Capacity additions 2010 to 2013 will have minimal impact to current cost curve $ per ton By-Product Avg Other Leading Technology Ethylene Highest Cost China MeOH 2010E Demand Ethanol Average Celanese Avg Non-China MeOH Carbonylation Ef
Slide 99: 2011E acetic acid cost curve
Source: Celanese internal estimates $ per ton By-Product Avg Other Leading Technology Ethylene Highest Cost China MeOH 2011E Demand Ethanol Effective Industry Utilization Rates Lower Cost China MeOH Pricing for CE to earn >15% EBITDA 75 - 80% Capacity additions 2010 to 2013 will have minimal impact
Slide 100: 2012E acetic acid cost curve
Source: Celanese internal estimates $ per ton By-Product Avg Other Leading Technology Ethylene Highest Cost China MeOH 2012E Demand Ethanol Effective Industry Utilization Rates Lower Cost China MeOH Pricing for CE to earn >15% EBITDA 75 - 80% Capacity additions 2010 to 2013 will have minimal impact
Slide 101: 2013E acetic acid cost curve
All announced projects, if realized, expected to be equal to or above today's economics Stable acetic acid margins expected over coming years Source: Celanese internal estimates Differentiated cost curve remains intact and attractive for Celanese $ per ton By-Product Avg Other Leading Technology Eth
Slide 102: Acetyls: Growth fueled by innovation
Continued global growth throughout the Acetyl chain Stable Acetic Acid margins reflect technology advantage Acetyls: Growth fueled by innovation Operating EBITDA Technology innovation further improves operating position 2009 2010 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA
Slide 103: Celanese Operational Excellence
Celanese Operational Excellence John Wardzel Vice President, Operations Jim Alder Senior Vice President, Operations & Technical
Slide 104: Our culture of execution
Our culture of execution Tools & Processes Six Sigma & Lean Digitization Manufacturing Standardization Labor Optimization Stretch Goals EBITDA Productivity Growth Innovation Sustainability Gap (versus) Theoretical Limits Industry Benchmarks Management & Shareholder Expectations Performance Employee
Slide 105: Productivity framework supports strategic investments
Productivity framework supports strategic investments Raw material and other purchases Energy Fixed manufacturing Business process optimization Improve yield Offset fixed cost inflation Improve operating leverage and earnings Fund growth and investments Return cash to shareholders Value of Productiv
Slide 106: Sustainable fixed cost reductions
Achieved $150 million of sustainable fixed cost reductions in 2009 Committed to $100 million of fixed cost reductions in 2010 Productivity obtained in every region and function Productivity drivers Best in class Benchmarking Strategic projects Six Sigma / Lean processes Delivering on commitments Sus
Slide 107: Process improvement drives productivity
Process improvement drives productivity Breakdown on sources of productivity Productivity Sources 2005 - 2010 Project Productivity Shutdown Productivity Ongoing Productivity East 0.28 0.2 0.52 Continuous Focus on Productivity Ongoing productivity Manufacturing footprint productivity Major initiative
Slide 108: Shared services efficiency
Standardized, efficient processes Improved accuracy, timeliness and controls Scalable operations End-to-end process opportunity Operational Efficiency Annual cost savings of >$10 million Improved cost structure Cost Effectiveness Success with consolidation of NA and EU financial shared services Buda
Slide 109: Productivity forever
Productivity forever Baseline 1200 1100 1100 1050 1050 1000 1000 950 950 100 100 100 100 50 50 50 50 Spending1 Productivity2 Inflation Process technology improvements Catalyst / yield Digitization Energy reduction Multi-year initiative Critical to meeting sustainability goals Strategic programs Raw
Slide 110: Our culture of execution
Our culture of execution Tools & Processes Six Sigma & Lean Digitization Manufacturing Standardization Labor Optimization Stretch Goals EBITDA Productivity Growth Innovation Sustainability Gap (versus) Theoretical Limits Industry Benchmarks Management & Shareholder Expectations Performance Employee
Slide 111: Efficient capital spending
Capital Spending by Category Efficient capital spending 2004 2005 2006 2007 2008 2009 2010 Forecast Maintain Plant 86 98 98 115 126 107 120 Productivity 75 40 30 32 60 24 47 Other Growth 35 28 55 8.5 29 14 57 Nanjing 13 47 69 147.5 51 20 41 Note: Not including Kelsterbach plant relocation Maintain P
Slide 112: Shift towards Asia: diversified manufacturing footprint
Americas Europe Asia Change -784.9373 -938 501.87 651422425 651422425 670676562 165934768 165934768 613832837 Shift towards Asia Improved proximity to emerging end markets Expanded footprint in lower cost geographies Enhanced ability for strategic raw material sourcing Optimized asset utilization As
Slide 113: Nanjing integrated complex
Nanjing integrated complex Acetic Acid Unit Utilities / Tank Farm Emulsions Complex Acetic Anhydride Unit GUR Unit Celstran Unit Vinyl Acetate Monomer Unit Administration & Maintenance Compounding (under construction) Further opportunity for capital efficient growth - space for three new units Green
Slide 114: A portable and scalable model for new sites
A portable and scalable model for future new site Nanjing integrated complex 100% ownership enables rapid response to market Local government / park officials highly supportive Local coal-based CO supplier more reliable than expected With proper diligence, can protect intellectual property Can achie
Slide 115: Our culture of execution
Our culture of execution Tools & Processes Six Sigma & Lean Digitization Manufacturing Standardization Labor Optimization Stretch Goals EBITDA Productivity Growth Innovation Sustainability Gap (versus) Theoretical Limits Industry Benchmarks Management & Shareholder Expectations Performance Employee
Slide 116: Extending performance culture to safety
Extending performance culture to safety Top performer in the chemical industry Winner of ACC's 2009 Sustained Excellence Award 5-year track record of continuous improvement 25-30% / year reduction in OSHA Incident Rate Celanese Safety Performance Sustainability in our processes - Safety 2009 Safety
Slide 117: Sustainability: Energy and Environmental
2005 - 2010 Annualized Reduction Goals Sustainability in our processes - Energy and Environmental Set aggressive 2010 energy and environmental reduction goals...and will meet or exceed them Winner of ACC's 2010 Initiative of the Year Award 2010 - 2015 Annualized Reduction Goals Setting aggressive 20
Slide 118: Sustainability: Energy and Greenhouse Gases
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010E 2015 Goal 0.904 0.843 0.823 1.01 0.854 0.764 0.719 0.652 0.593 0.582 0.466 North 45.9 46.9 45 43.9 Sustainability in our processes - Energy and Greenhouse Gases Reduction in Energy Intensity Energy (MM BTU/1,000 lb) Greenhouse Gases (ton/ton) Reduct
Slide 119: Sustainability: Air Emissions and Waste
Sustainability in our processes - Air Emissions and Waste Reduction in Air Emission Intensity Air Emissions (ton/1000 ton) Waste (ton/ton) Reduction in Waste Intensity 2005 - 2010 32% reduction in intensity (vs. 30% goal) 2010 - 2015 Goal Further 25% reduction 2005 - 2010 68% reduction in intensity
Slide 120: World-class technology drives step change improvements
World-class technology drives "step change" improvements Sustainability in our processes - Energy and Environmental Strategic Economic SUSTAINABLE Celanese Pampa Celanese Nanjing Local Chinese Producers Celanese (Six Global Sites) Technology 60 year old butane oxidation World-class AOPlus(r) Calcium
Slide 121: Value in sustainability
Value in sustainability Metal replacement in auto increases fuel efficiency, decreases emissions ? EVA Performance Polymers - Higher EVAs for solar cell encapsulation ? Value for Customers ? Value for Shareholders >$200 million / year sustainable energy and waste productivity Value for Employees and
Slide 122: Our culture of execution
Our culture of execution Tools & Processes Six Sigma & Lean Digitization Manufacturing Standardization Labor Optimization Stretch Goals EBITDA Productivity Growth Innovation Sustainability Gap (versus) Theoretical Limits Industry Benchmarks Management & Shareholder Expectations Performance Employee
Slide 123: Business Summary
Doug Madden Executive Vice President and Chief Operating Officer Business Summary
Slide 124: Well-defined path forward - delivering today
Well-defined path forward - delivering today Project approved for Acetate expansion with current China partner of 30kt/a each tow and flake Proposed Spondon site closure and manufacturing consolidation Consumer Specialties 2012+: Increased earnings through China ventures dividends 2011+: Productivit
Slide 125: Additional growth opportunities
Additional growth opportunities Next Generation Acetyl technology advancements Success with innovation and new technology VAE Nanjing expansion Manufacturing optimization China venture expansion Ibn Sina venture enhancement FACT LFT acquisition DuPont LCP/PCT acquisition Updated view highlights shif
Slide 126: Advanced Engineered Materials summary
Impact 2010 to 2013 EBITDA Operating EBITDA Advanced Engineered Materials summary 8-10% revenue growth: Growth in application space Growth through emerging economies Innovation through new products +++ High variable margin translates to ~50% conversion of revenue to EBITDA +++ Raw materials & energy
Slide 127: Consumer Specialties summary
Impact 2010 to 2013 EBITDA Operating EBITDA 2009 2010 Geographic Growth Productivity 2013 EBITDA Base 359 367 Add Add 8 59 Total 348 359 426 Well positioned for growth in Asia Increased dividends from China ventures +++ Productivity based on manufacturing alignment in growth regions ++ Sustained pri
Slide 128: Industrial Specialties summary
Impact 2010 to 2013 EBITDA Operating EBITDA Industrial Specialties summary Innovation of new products and applications: Expanding low VOC vinyl systems Increasing application space Strong innovation pipeline +++ Geographic growth through adoption of low VOC technologies ++ Counter-cyclical to key Ac
Slide 129: Acetyl Intermediates summary
Impact 2010 to 2013 EBITDA Operating EBITDA Acetyl Intermediates summary * Ibn Sina represents cost dividends and does not include the effects of converting to equity method accounting Volume growth and margin expansion in downstream derivatives ++ Acetic Acid cost curve sustained ? Process innovati
Slide 130: Multiple strategic levers accelerate earnings growth
2009 2010 2011 Geographic Growth Innovation Productivity Economic Growth 2013 EBITDA Base 1250 1353 1392 1492 Add Add 103 39 100 108 Total 847 1100 1250 1600 Continued generation & deployment of cash Improved earnings power Accelerated topline growth Earnings power of advantaged portfolio Operating
Slide 131: Celanese Value
Celanese Value Steven Sterin Senior Vice President and Chief Financial Officer
Slide 132: The Value of Celanese
The Value of Celanese Current Portfolio's Financial and Cash Flow Performance Attractive Capital Structure Additional Value of Strategic Affiliates Attractive Investment Thesis
Slide 133: 2009 Financial update
Celanese ($ in millions) 2009 Revenue: $5,082 2009 Operating EBITDA: $847 Free Cash Flow: $420 Revenue: $1,078 Operating EBITDA: $348 Revenue: $808 Operating EBITDA: $134 Revenue: $974 Operating EBITDA: $109 Revenue: $2,220 Operating EBITDA: $357 Advantaged portfolio delivered significantly higher e
Slide 134: Track record of generating significant cash
Track record of generating significant cash * Defined as cash flow from operations less capital expenditures plus growth and productivity investments and cash from divestitures Cash Generation 2005 2006 2007 2008 2009 Free Cash Flow before Strategic Investments 631 669 497 473 583 Divestitures 48 23
Slide 135: Balanced approach: reinvestment and returning cash
Low High Balanced approach: High-return reinvestments and returning cash to shareholders Return on Capital Deployed/ Value Creation History of Shareholder Returns through Cash Deployment (2005-2009) Return of Capital and Capital Structure Strategic Investments Productivity* Growth Acquisitions Total
Slide 136: Investments result in significant earnings growth
Investments result in significant earnings growth 1 Productivity includes all cash costs (capital expenditures & severance) 2 EBITDA improvement vs. 2004 Balanced deployment of cash to maximize shareholder value 2005 - 2010 Total strategic investments: ~$1.7 Billion Total earnings power improvement2
Slide 137: Increased earnings power drives shareholder value
Increased earnings power drives significant shareholder value Operating EBITDA Improvement 2004 2010 E 2011E Base Add Add Total 600 847 1250 $776 million ~$1,250 million ~$1,100 million Cash reinvestment results in significant earnings growth & value creation *Enterprise Value as of December 31, 200
Slide 138: Track record of generating cash for shareholders
Track record of generating significant cash for shareholders Source: Based on information obtained from Thomson Reuters First Call as of April 20, 2010 and company reports 2-Year Average Free Cash Flow/Sales TTM ALB DD CE ARG PPG NLC CYT LZ ASH PX FMC EMN APD ROC DOW Free Cash Flow/Revenue Averaged
Slide 139: Incremental ROIC - WACC spread
Celanese Incremental ROIC - WACC Spread Above Industry Average Spread 2005 2006 2007 2008 2009 2010E* 2005-2009 ROIC - WACC Spread Celanese Specialty Chemicals Commodity Chemicals Industrial Gases Average 0.052 0.037 0.021 0.016 0.026 Note: Specialty Chemicals companies include DuPont, Ecolab, FMC,
Slide 140: Examples of high-return investments: acquisitions
APL Vinamul Acetex Post Merger EBITDA Multiple 4.5 4 4.4 5.6 Pre Merger EBITDA Multiple 6 6 5.9 7.1 Examples of high-return investments: Highly synergistic acquisitions Success in Integration Purchase price/EBITDA multiple Pre Acquisition Multiple Post Acquisition Multiple SG&A Logistics Other Manuf
Slide 141: Nanjing Integrated Complex high-return investment
Celanese Nanjing Integrated Complex Example of high-return investment: Geographic growth based on technology advantage Low Capital Total initial investment: $300-350 million Incremental expansion investment: $60-80 million High Returns Approximately $1 billion in revenue Approximately $200 million i
Slide 142: Cash available for strategic purposes
Cash (as of 3/31/2010) $1,139 Kelsterbach Project ~($70) Operating Cash ($100-$200) Cash Available for Strategic Purposes $900-$1,000 Available Cash (revised) Cash (as of 3/31/2010) $1,139 Kelsterbach Project ~($70) Operating Cash ~($300) Cash Available for Strategic Purposes ~$800 Operating cash im
Slide 143: Disciplined deployment of cash
Aligned with strategic pillars 2 - 4 year simple payback period ~15 - 35% ROIC Investment Criteria Value creation beyond 2010: Disciplined deployment of cash Flexibility Cost Stability Maximize shareholder value Capital Structure Objectives Current Cash Available for Strategic Use: ~$900 - $1,000 mi
Slide 144: Opportunities for earnings growth through cash deployment
Opportunities for Earnings Growth through Cash Deployment Opportunities for Earnings Growth through Cash Deployment Acetyl Intermediates Geographic growth Technology advancement Advanced Engineered Materials Portfolio enhancement New product/application innovation Advantaged raw materials Consumer S
Slide 145: The Value of Celanese
The Value of Celanese Current Portfolio's Financial and Cash Flow Performance Attractive Capital Structure Additional Value of Strategic Affiliates Attractive Investment Thesis
Slide 146: Celanese capital structure
Celanese capital structure Term Loan - $2.7 billion Other Debt - $800 million Debt Common Stock Equity Priority Uses of Liquidity High-return investments Mergers & Acquisitions Return to shareholders Capital structure Share buyback to at least offset dilution $122 million authorized Increased divide
Slide 147: Celanese capital structure
Celanese capital structure Earnings growth and cash generation favorably enhance capital structure alternatives Considerations for Future Capital Structure Improving credit profile Enhances flexibility Increases access to capital Evaluate debt levels Optimizes cost of funding Staggered maturities Bl
Slide 148: The Value of Celanese
The Value of Celanese Current Portfolio's Financial and Cash Flow Performance Attractive Capital Structure Additional Value of Strategic Affiliates Attractive Investment Thesis
Slide 149: Strategic value of our affiliates
Strategic value of our affiliates Polyplastics JV Nantong, China Ibn Sina Al Jubail, Saudi Arabia Acetate Venture Nantong, China Acetate Venture Zhuhai, China Polyplastics Fuji City, Japan Acetate Affiliates AEM Affiliates Access geographies Emerging economies Strategic raw material positioning Hist
Slide 150: Economic value of our strategic affiliates
Economic value of our strategic affiliates 2003 2004 2005 2006 2007 2008 2009 2010E CE portion EBITDA 110 128 159 149 174 164 134 184 Equity in earnings 39 48 51 76 82 54 29 82 Earnings from Equity Affiliates Included in Operating EBITDA Earnings and Proportional EBITDA of Affiliates Proportional EB
Slide 151: Additional value in affiliates
Total 2009 EBITDA as reported by affiliates* $351 2009 Celanese proportional EBITDA $134 Less: Reported equity in net earnings of affiliates $29 Celanese proportional affiliate EBITDA not included in CE 2009 results $105 Enterprise value of unreported affiliate EBITDA (Using CE EV/EBITDA multiple) $
Slide 152: The Value of Celanese
The Value of Celanese Current Portfolio's Financial and Cash Flow Performance Attractive Capital Structure Additional Value of Strategic Affiliates Attractive Investment Thesis
Slide 153: History of value creation
History of value creation Operating EBITDA Improvement 2001 2009 2013 EBITDA Base Add Add Total 388 847 1700 ~$400 million $1,600 - $1,800 million $847 million >15% CAGR Continuing our track record of delivering on commitments 11% CAGR
Slide 154: Key valuation metrics vs Dow Jones Chemical Index
Continuing to shift to technology focused specialty materials portfolio Note: CEX defined as DOW Jones chemical index as of April 2010; measurements using First Call consensus estimates 2009 - 2011 Key Valuation Metrics vs Dow Jones Chemical Index (CEX) Bottom Quartile Third Quartile Second Quartile
Slide 155: Earnings power of advantaged portfolio
Earnings power of advantaged portfolio Operating EBITDA 2009 2010 2011 2013 EBITDA Base Add Add Total 847 1097 1247 1600 $847 million $1,600 - $1,800 million +~$150 million +~$0.75 / share +>$250 million +>$1.25 / share +~$350 million +~$1.75 / share Continued generation & deployment of cash Improve
Slide 156: Celanese Corporation - 2010 Investor Day
Celanese Corporation - 2010 Investor Day May 11, 2010
Slide 157: Reg G: Reconciliation of Operating EBITDA (Table 1)
Reg G: Reconciliation of Operating EBITDA (Table 1)
Slide 158: Reg G: Reconciliation of Operating EBITDA (Table 1a)
Reg G: Reconciliation of Operating EBITDA (Table 1a)
Slide 159: Reg G: Reconciliation of Operating EBITDA (Table 1b)
Reg G: Reconciliation of Operating EBITDA (Table 1b)
Slide 160: Reg G: Other Charges and Other Adjustments (Table 2)
Reg G: Other Charges and Other Adjustments (Table 2)
Slide 161: Reg G: Other Charges and Other Adjustments (Table 2a)
Reg G: Other Charges and Other Adjustments (Table 2a)
Slide 162: Reg G: Reconciliation of Adjusted EPS (Table 3)
Income tax (provision) benefit on adjusted Reg G: Reconciliation of Adjusted EPS (Table 3) Adjusted Earnings (Loss) Per Share - Reconciliation of a Non-U.S. GAAP Measure (in $ millions, except per share data) per share per share per share per share Earnings (loss) from continuing operations 1 - -0.0
Slide 163: Reg G: Equity Affiliate Preliminary Results (Table 4)
Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share - Unaudited (Table 4)
Slide 164: Reg G: Equity Affiliate Preliminary Results (Table 4a)
Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share - Unaudited (Table 4a)
Slide 165: Reg G: Proportional EBITDA in affiliates (Table 4b)
Reg G: Proportional EBITDA in affiliates above earnings from equity investments (Table 4b)
Slide 166: Reg G: Reconciliation of Free Cash Flows (Table 5)
Reg G: Reconciliation of Free Cash Flows (Table 5)
Slide 167: Reg G: Reconciliation of 2001 - 2009 Operating EBITDA (Table 6)
Reg G: Reconciliation of 2001 - 2009 Operating EBITDA (Table 6) * Amount not restated for 2007 divestitures reported as discontinued operations
Slide 168: Reg G: Reconciliation of Consumer Specialties EBITDA (Table 7)
Reg G: Reconciliation of Consumer Specialties EBITDA (Table 7)