Slide 1: Celanese Q2 2012 Earnings
1 Mark Rohr, Chairman and Chief Executive Officer Steven Sterin, Senior Vice President and Chief Financial Officer Celanese Q2 2012 Earnings Monday, July 23, 2012 EX 99.2
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements This presentation and remarks made as part of this presentation 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
Slide 3: Non-US GAAP Financial Information
3 Non-US GAAP Financial Information Reconciliation of Non-U.S. GAAP Measures to U.S. GAAP This presentation reflects the following performance measures: operating EBITDA, business operating EBITDA, affiliate EBITDA and proportional affiliate EBITDA, adjusted earnings per share, net debt, and adjuste
Slide 4: Mark Rohr, Chairman and Chief Executive Officer
4 Mark Rohr Chairman and Chief Executive Officer
Slide 5: Highlights of recent activities
5 ►Announced plans to backward integrate into methanol at Clear Lake, Texas ► Launched SunsationSM sweetener platform ►Entered into Joint Statement of Cooperation with Pertamina to advance fuel ethanol projects in Indonesia ► In the process of starting up the technology development unit for ethanol
Slide 6: Celanese Corporation Q2'12 highlights
6 ► Second best quarterly adjusted EPS in Celanese history, despite challenging economic conditions in Europe and slower growth in Asia ► The acetyl industry challenged by soft demand * See slides 23 and 24 for equity affiliate results and Celanese’s proportional share in millions (except EPS) Q2’11
Slide 7: Steven Sterin, Senior Vice President and Chief Financial Officer
7 Steven Sterin Senior Vice President and Chief Financial Officer
Slide 8: Advanced Engineered Materials
8 Advanced Engineered Materials ► Slightly lower sequential earnings Expect higher sales and lower raw material costs Lower equity earnings from strategic affiliates Sequential (Q2’12 vs Q1’12) ► Sales and earnings growth driven by increased pricing ► Increased equity earnings from strategic aff
Slide 9: Consumer Specialties
9 Consumer Specialties ► Expect YoY earnings growth due to higher pricing in Acetate and higher volume in Nutrinova Sequential ► Sales and earnings growth from higher volume due to volume shift from Q1 production interruption ► Dividends from strategic affiliates YoY ► Sales: higher pricing; higher
Slide 10: Industrial Specialties
10 Industrial Specialties ► Expect sequentially lower earnings due to seasonality and mix Sequential ► Sales and earnings increased due to: Volume growth in Emulsions in NA and Asia Improved mix in EVA Performance Polymers YoY ► Sales: volume growth in North America and Asia offset by unfavorabl
Slide 11: Acetyl Intermediates
11 Acetyl Intermediates ► Assuming no improvement in global economic conditions, expect trough-like conditions in the acetyl chain to continue through remainder of 2012 Sequential ► Sales: volume decline due to soft demand ► Earnings: margin expansion driven by higher pricing and lower raw material
Slide 12: Affiliate performance
12 ► Q2’12: equity affiliates contributed $62 million to earnings with an additional $43 million proportional Affiliate EBITDA not included in Operating EBITDA ► Equity and cost investment dividends were $146 million, a $21 million increase from Q2’11 ► Q3 Outlook: earnings from AEM’s strategic affi
Slide 13: Free cash flow 2nd Quarter 2012
13 Free cash flow 2nd Quarter 2012 1Amounts primarily associated with cash outflows for purchases of other productive assets that are classified as ‘investing activities’ for U.S. GAAP purposes 2Excludes Ticona Kelsterbach expansion cash flows ► Positive free cash flow continues despite weak market
Slide 14: Strong cash generation continues throughout economic cycle
14 ► Dividend, debt service, option receipts, and share repurchases of ~$80-100 million ► Board authorized 25% increase in dividend effective August 2012 Strong cash generation continues throughout economic cycle * Excludes cash outflows for the Ticona Kelsterbach expansion capital expenditures of a
Slide 15: Appendix
15 Appendix Notes: References on the following slides to tables correspond to the tables included with Celanese press release dated July 23, 2012
Slide 16: Reg G: Business segment data and reconciliation of operating profit to operating EBITDA
16 Reg G: Business segment data and reconciliation of operating profit (loss) to operating EBITDA - a non-U.S. GAAP measure – unaudited (Table 1) Ju ne 30 , Ma rc h 3 1, Ju ne 30 , (in $ mi llio ns ) 20 12 20 12 20 11 Ne t S ale s Ad va nc ed En gin ee red M ate ria ls 32 3 31 7 34 6 Co ns um er Sp
Slide 17: Reg G: Reconciliation of net earnings to operating EBITDA
17 Reg G: Reconciliation of consolidated net earnings (loss) to operating EBITDA - a non-U.S. GAAP measure – unaudited (Table 1A) June 30, March 31, June 30, (in $ millions) 2012 2012 2011 Net earnings (loss) attributable to Celanese Corporation 210 183 203 (Earnings) loss from discontinued operatio
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 Earnings (loss) from continuing operations 210 1.31 183 1.15 205 1.29 Deduct: Income tax (provision) benefit (
Slide 19: Reg G: Other charges and other adjustments reconciliation
19 Reg G: Other charges and other adjustments - reconciliation of a non-U.S. GAAP measure – unaudited (Table 7) Other Charges (Gains), net: June 30, March 31, June 30, (in $ millions) 2012 2012 2011 Employee termination benefits 1 - 9 Ticona Kelsterbach plant relocation 2 - 16 Plumbing actions - - (
Slide 20: Q2 2012 Other charges and other adjustments by business segment
20 Q2 2012 Other charges and other adjustments by business segment - reconciliation of a non-U.S. GAAP measure - unaudited Income Statement in $ millions AEM CS IS AI Other Total Classification Employee termination benefits - 2 - (1) - 1 Ticona Kelsterbach plant relocation 2 - - - - 2 Insurance reco
Slide 21: Q1 2012 Other charges and other adjustments by business segment
21 Q1 2012 Other charges and other adjustments by business segment - reconciliation of a non-U.S. GAAP measure - unaudited Income Statement in $ millions AEM CS IS AI Other Total Classification Employee termination benefits - 1 - - (1) - Total other charges (gains), net - 1 - - (1) - Business optimi
Slide 22: Q2 2011 Other charges and other adjustments by business segment
22 Q2 2011 Other charges and other adjustments by business segment - reconciliation of a non-U.S. GAAP measure - unaudited Income Statement in $ millions AEM CS IS AI Other Total Classification Employee termination benefits 4 3 - 1 1 9 Ticona Kelsterbach plant relocation 16 - - - - 16 Plumbing actio
Slide 23: Reg G: Equity affiliate results and affiliate EBITDA reconciliation
23 Reg G: Equity affiliate results and reconciliation of operating profit to affiliate EBITDA - a non-U.S. GAAP measure - total - unaudited (Table 8) June 30, March 31, June 30, (in $ millions) 2012 2012 2011 Net Sales Ticona Affiliates - Asia 1 441 423 393 Ticona Affiliates - Middle East 2 380 304
Slide 24: Reg G: Proportional affiliate EBITDA reconciliation
24 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) Ju n e 3 0, M ar ch 3 1, Ju n e 3 0, (in $ m ill io ns ) 20 12 20 12 20 11 P ro po rt io na