Slide 1: Celanese 4Q 2009 Earnings Conference Call / Webcast
Dave Weidman, Chairman and CEO Steven Sterin, Senior Vice President and CFO Celanese 4Q 2009 Earnings Conference Call / Webcast Tuesday, February 9, 2010 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, capital
Slide 3: Dave Weidman, Chairman and Chief Executive Officer
Dave Weidman Chairman and Chief Executive Officer
Slide 4: Celanese Corporation 4Q and full year 2009 highlights
Celanese Corporation 4Q and full year 2009 highlights in millions (except EPS) 4th Qtr 2009 4th Qtr 2008 FY 2009 FY 2008 Net Sales $1,388 $1,286 $5,082 $6,823 Operating Profit/(Loss) $109 ($152) $290 $440 Adjusted EPS $0.50 ($0.40) $1.71 $2.75 Operating EBITDA $227 $63 $847 $1,164 Fourth Quarter 200
Slide 5: Recent strategic actions build earnings power of portfolio
Recent strategic actions build earnings power of portfolio MOU announced for Acetate expansion project with current China partner Consumer Specialties 2011+: Increased earnings through JV dividends Nanjing VAE / Emulsion capacity expansion Industrial Specialties 2011+: Volume expansion supporting gr
Slide 6: 2010 Earnings Improvement
Productivity Driven Tax Rate 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 realignment Sustained lower tax rate Benefits of manufacturing and adminis
Slide 7: Steven Sterin, Senior Vice President and CFO
Steven Sterin Senior Vice President and CFO
Slide 8: Advanced Engineered Materials
in millions 4th Qtr 2009 4th Qtr 2008 FY 2009 FY 2008 Net Sales $239 $195 $808 $1,061 Operating EBITDA $50 ($3) $134 $170 Advanced Engineered Materials Fourth Quarter 2009: Margin expansion reflecting significant operating leverage Net sales increased with volume recovery across all end-markets and
Slide 9: Consumer Specialties
Fourth Quarter 2009: Strong performance with sustained margins from higher pricing in Acetate products and benefits from fixed spending reductions Volume decline from softer consumer demand and inventory destocking in the late-cycle businesses Strong finish to record year of earnings performance Con
Slide 10: Industrial Specialties
Fourth Quarter 2009: Net sales increased with volume recovery, excluding PVOH divestiture ($54 million in 2008) Higher volumes offset lower pricing related to lower raw material costs Industrial Specialties in millions 4th Qtr 2009 4th Qtr 2008 FY 2009 FY 2008 Net Sales $229 $277 $974 $1,406 Operati
Slide 11: Acetyl Intermediates
Acetyl Intermediates in millions 4th Qtr 2009 4th Qtr 2008 FY 2009 FY 2008 Net Sales $743 $656 $2,603 $3,875 Operating EBITDA $128 $21 $357 $676 Fourth Quarter 2009: Significant volume recovery and margin expansion in seasonally strong quarter Improved performance driven by higher volumes, lower raw
Slide 12: Affiliate Performance: Earnings and dividends impact
4Q 2009 4Q 2008 FY 2009 FY 2008 Dividends - Equity Investments 6 2 37 64 Dividends - Cost Investments 17 29 98 167 4Q 2009 4Q 2008 FY 2009 FY 2008 Earnings - Equity Investments 4 8 48 54 Dividends - Cost Investments 17 29 98 167 4Q 2009: Earnings and dividends impact Lower dividends from Ibn Sina, d
Slide 13: Solid cash generation: Adjusted Free Cash Flow
Solid cash generation Adjusted Free Cash Flow Adjusted Free Cash Flow Adjusted Free Cash Flow $ in millions FY2009 FY2008 Net cash provided by operating activities $596 $586 Adjustments to operating cash for discontinued operations $2 ($3) Net cash provided by operating activities from continuing op
Slide 14: Strong cash generation continues throughout economic cycle
Strong cash generation continues throughout economic cycle Available Cash Available Cash Cash (as of 12/31/2009) $1,254 Kelsterbach Project ~($150) Operating Cash ~($300) Cash Available for Strategic Purposes ~$800 Expect to continue to generate positive free cash flow Ticona Kelsterbach relocation:
Slide 15: Convertible Preferred Stock Redemption
$240 million of 4.25% Convertible Perpetual Preferred Stock currently outstanding Company announced redemption of Preferred Stock for common shares on February 1, 2010 Redemption date: February 22, 2010 Holders have right to convert prior to redemption date Saves ~$8 million annually in cash dividen
Slide 16: Appendix
Celanese Appendix
Slide 17: 4Q 2009 Other Charges and Other Adjustments by Segment
4Q 2009 Other Charges and Other Adjustments by Segment
Slide 18: FY 2009 Other Charges and Other Adjustments by Segment
FY 2009 Other Charges and Other Adjustments by Segment
Slide 19: Reg G: Reconciliation of Adjusted EPS
Reg G: Reconciliation of Adjusted EPS
Slide 20: Reg G: Reconciliation of Net Debt
Reg G: Reconciliation of Net Debt
Slide 21: Reg G: Other Charges and Other Adjustments
Reg G: Other Charges and Other Adjustments
Slide 22: Reg G: Reconciliation of Operating EBITDA
Reg G: Reconciliation of Operating EBITDA
Slide 23: Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share
Reg G: Equity Affiliate Preliminary Results and Celanese Proportional Share - Unaudited