Slide 1: Celanese Q4 2014 Earnings
Celanese Q4 2014 Earnings Thursday, January 22, 2015 Conference Call / Webcast Friday, January 23, 2015 10:00 a.m. ET © Celanese Mark Rohr, Chairman and Chief Executive Officer Chris Jensen, Senior Vice President, Finance Exhibit 99.3 © Celanese Celanese Corporation 1
Slide 2: 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 expenditures, financing needs and other information that is not historical information. All forward-looking sta
Slide 3: Mark Rohr, Chairman and Chief Executive Officer
Mark Rohr Chairman and Chief Executive Officer © Celanese Celanese Corporation 3
Slide 4: Recent Highlights
Recent Highlights © Celanese Celanese Corporation • Received The American Composites Manufacturers Association's Award for carbon fiber strands used in overhead conductors • Introduced low-friction and low-wear thermoplastics for medical devices that enables the device to operate smoothly • Opened a
Slide 5: Factors Affecting Net Sales Changes: Q4 Performance
Factors Affecting Net Sales Changes Net sales (in millions) Q4 Performance $1,800 $1,200 $600 $0 30% 20% 10% 0% Q4 2013 Q3 2014 Q4 2014 15.1% 20.1% 18.1% $1,616 $1,769 $1,559 Celanese Corporation Q4 2014 Highlights © Celanese Celanese Corporation • Record fourth quarter adjusted EPS and segment inco
Slide 6: Advanced Engineered Materials Q4 Performance
YoY Segment income highlights • Volume increase driven by growth in Europe and Asia • Impacted by timing of turnaround activity • Affiliate earnings increased by $7 million due to fewer turnarounds in fourth quarter 2014 QoQ Segment income highlights • Volume decline reflects typical seasonal trends
Slide 7: Consumer Specialties Q4 Performance
Consumer Specialties Q4 Performance Factors Affecting Net Sales Changes © Celanese Celanese Corporation YoY Segment income highlights • Higher pricing of acetate tow offset by legacy contract in acetate flake • Lower cost driven by productivity initiatives • Lower volume due to high customer tow inv
Slide 8: Industrial Specialties Q4 Performance
Industrial Specialties Q4 Performance Factors Affecting Net Sales Changes © Celanese Celanese Corporation QoQ Segment income highlights • Volume decline mainly due to normal fourth quarter seasonality in emulsion polymers • Pricing consistent as product mix in EVA polymers offset slightly lower pric
Slide 9: Acetyl Intermediates Q4 Performance
Acetyl Intermediates Q4 Performance Factors Affecting Net Sales Changes © Celanese Celanese Corporation YoY Segment income highlights • VAM pricing increased due to productivity initiatives and unplanned industry outages • Lower volume reflects increased flexibility in our business QoQ Segment incom
Slide 10: Fairway: Clear Lake methanol project update
Fairway: Clear Lake methanol project update, expected start-up October 1, 2015 Status Update • Working to pull project schedule forward • All major equipment set • Civil ~100% complete • Steel ~70% complete • Piping ~25% complete • Electrical & Instrumentation ~30% complete Clear Lake Methanol Unit
Slide 11: 2015 Outlook: Adjusted EPS $5.00 to $5.50
2015 Outlook: Expect adjusted EPS in the range of $5.00 to $5.50 Headwinds Methanol • Impact of ~$0.40 to $0.60 of adjusted EPS • At current methanol and energy costs expect to be at the lower end of the range Other • Sharp decline in global oil pricing ◦ Pressuring global GDP growth ◦ Lower raw mat
Slide 12: Chris Jensen, Senior Vice President, Finance
Chris Jensen Senior Vice President, Finance © Celanese Celanese Corporation 12
Slide 13: 2014 De-leveraging
Debt reduction • Expect lower annual interest expense by $30 million. Reduced total debt by $200 million ◦ Issued €300 million senior unsecured notes maturing in 2019 with an interest rate of 3.250% ◦ Proceeds from the Euro 3.250% notes plus cash on hand used to redeem $600 million 6.625% senior uns
Slide 14: Strong Cash Flow Generation
Strong Cash Flow Generation • Record operating cash flow and adjusted free cash flow, primarily driven by strong earnings • Ended the year with ~$800 million of cash • Net capex of $414 million in 2014 Continue to create value through our balance sheet Adjusted Free Cash Flow (in millions) Cash flow
Slide 15: Dividend Payout and Share Repurchases
Dividend* Payout and Share Repurchases Dividend Share Repurchases $300 $250 $200 $150 $100 $50 $0 2010 2011 2012 2013 2014 Return of Cash to Shareholders Share Repurchases • Deployed $250 million to repurchase ~4.3 million shares in 2014 • Remaining share repurchase authorization of $451 million • W