This document discusses Celanese Corporation's use of non-GAAP financial measures and forward-looking statements in company presentations. It provides definitions and explanations for key performance metrics used by Celanese, such as operating EBITDA, adjusted earnings per share, and adjusted free cash flow. It also notes that Celanese is unable to reconcile forecasts for these non-GAAP measures to GAAP measures. The document aims to explain these non-GAAP measures to investors and how management uses them for planning, budgeting, and evaluating financial and operating results.
AIT Group is a global management consulting firm that has over 10 years experience in Lean Six Sigma Training, Coacing, and Certification as well as Supply Chain using the SCOR model to transform business processes to standardized and streamlined value streams.
AIT Group is a global management consulting firm that has over 10 years experience in Lean Six Sigma Training, Coacing, and Certification as well as Supply Chain using the SCOR model to transform business processes to standardized and streamlined value streams.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
2. Forward looking statements;
Reconciliation and use of non-GAAP
measures to U.S. GAAP
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. When used in this presentation, the words “outlook,”
“forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify
forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance
that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause
actual results to differ materially from those expressed as forward-looking statements. Certain of these risk factors are discussed in the company’s filings with the
Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to
update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated
events or circumstances.
This presentation reflects three performance measures, operating EBITDA, adjusted earnings per share and adjusted free cash flow as non-U.S. GAAP measures.
The most directly comparable financial measure presented in accordance with U.S. GAAP in our consolidated financial statements for operating EBITDA is operating
profit; for adjusted earnings per share is earnings per common share-diluted; and for adjusted free cash flow is cash flow from operations.
►Operating EBITDA, a measure used by management to measure performance, is defined as operating profit from continuing operations, plus equity in net earnings
from affiliates, other income and depreciation and amortization, and further adjusted for other charges and adjustments. We provide guidance on operating EBITDA
and are unable to reconcile forecasted operating EBITDA to a GAAP financial measure because a forecast of other charges and other adjustments is not practical.
Our management believes operating EBITDA is useful to investors because it is one of the primary measures our management uses for its planning and budgeting
processes and to monitor and evaluate financial and operating results. Operating EBITDA is not a recognized term under U.S. GAAP and does not purport to be an
alternative to operating profit as a measure of operating performance or to cash flow from operations as a measure of liquidity. Because not all companies use
identical calculations, this presentation of operating EBITDA may not be comparable to other similarly titled measures of other companies. Additionally, operating
EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not consider certain cash requirements such as interest
payments, tax payments and debt service requirements nor does it represent the amount used in our debt covenants.
►Adjusted earnings per share is a measure used by management to measure performance. It is defined as net earnings (loss) available to common shareholders plus
preferred dividends, adjusted for other charges and adjustments, and divided by the number of basic common shares, diluted preferred shares, and options valued
using the treasury method. We provide guidance on an adjusted earnings per share basis and are unable to reconcile forecasted adjusted earnings per share to a
GAAP financial measure because a forecast of other charges and other adjustments is not practical. We believe that the presentation of this non-U.S. GAAP measure
provides useful information to management and investors regarding various financial and business trends relating to our financial condition and results of operations,
and that when U.S. GAAP information is viewed in conjunction with non-U.S. GAAP information, investors are provided with a more meaningful understanding of our
ongoing operating performance. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.
►The tax rate used for adjusted earnings per share is the tax rate based on our original guidance communicated at the company’s investor day in December 2007.
We adjust this tax rate during the year only if there is a substantial change in our underlying operations; an updated forecast would not necessarily result in a change
to our tax rate used for adjusted earnings per share. The adjusted tax rate may differ significantly from the tax rate used for U.S. GAAP reporting in any given
reporting period. It is not practical to reconcile our prospective adjusted tax rate to the actual U.S. GAAP tax rate in any future period.
►Adjusted free cash flow is defined as cash flow from operations less capital expenditures, other productive asset purchases, operating cash from discontinued
operations and certain other charges. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors
regarding changes to the company’s cash flow. Our management and credit analysts use adjusted free cash flow to evaluate the company’s liquidity and assess credit
quality. This non-U.S. GAAP measure is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.
2
3. Who is Celanese?
Superior Value Creation
Strategy
Industry Leader
Clear focus on growth and ►
value creation
Geographically balanced
●
global positions
Culture Diversified end market
Leading Global ●
Strong performance exposure
Integrated Producer
built on shared of Chemicals and
Strong Cash Generation
►
principles and
Advanced Materials
objectives
Significant Growth
►
Capability
Execution Track record of execution
●
Demonstrated track record
Clearly defined
●
of delivering results
opportunities
3
4. Globally balanced and integrated
businesses aligned to accelerate growth
Differentiated Intermediates Specialty Products
Building Block
Acetate
Consumer
Specialties
Anhydride
(CS)
Nutrinova
and esters
Acetic
Acid
Emulsions
Industrial
Raw VAM PVOH Specialties
Materials
(IS)
AT Plastics
Formaldehyde
Ticona
Advanced
Engineering
Acetyl Intermediates Engineered
Polymers
(AI) Materials
(AEM)
Affiliates
4
5. Today’s portfolio: higher growth, more
specialty
2007 Financial Highlights:
►
Operating EBITDA1
Net sales - $6,444 million
●
Operating EBITDA - $1,325 million
Advanced Engineered Materials ●
Consumer and Industrial Specialties
Strategic growth plans
►
Acetyl Intermediates
1,400
continue to accelerate
earnings of specialty
1,200
businesses
1,000
Essentially all growth has come from
●
$ in millions
specialty businesses
800
Two-thirds of 2010 Growth
●
Objectives expected from specialty
600
businesses
Resulting in:
400 ►
Higher growth rates
●
200
Increased overall earnings power of
●
the portfolio
-
Reduced volatility
●
2005 2006 2007
1Operating EBITDA excludes Other Activities of ($122), ($134) and ($82) respectively for the periods presented
5
6. Committed to delivering value creation
Primary Growth Focus
Balance Operational EBITDA
Group Asia Revitalization Innovation Organic
Sheet Excellence Impact
Consumer and
EPS Operating EBITDA
Industrial X X X X >$100MM
Specialties
Advanced
Engineered X X X X >$100MM
Materials
Acetyl
X X X >$100MM
Intermediates
Celanese Incremental
X X
Corporate EPS
$350 – $400 million increased EBITDA profile
plus EPS potential by 2010
6
7. On track and clear path forward to
accelerate 2010 Growth Objectives
Operating EBITDA Growth Objectives
Advanced Engineered Materials
400
AEM: volume growth 2X GDP
Consumer and Industrial Specialties ►
Acetyl Intermediates
through further penetration
CIS: Acetate continues
►
$ in millions
execution on revitalization
200
strategy; Emulsions/PVOH
revitalization commences
AI: Nanjing acetic acid plant
►
startup leads integrated complex
0
2007 2008 2009 2010
7
8. Asia strategy: high-return growth
Celanese Nanjing Integrated Complex Investment Dynamics
GUR® Celstran® Total investment: $300 -
►
Warehouse Flare
Unit Unit $350 million – over 80%
complete
Acetic Anhydride Vinyl Acetate
Total revenue: $600 - $800
►
Unit Monomer Unit
million when sold out by
2010
Incremental EBITDA: $120 -
►
Acetic Acid
Utilities /
$150 million by 2010
Unit
Tank Farm
Emulsions
Complex
Administration &
ROIC = 25 – 30%
Compounding
Maintenance
8
9. AEM: value in technology and performance
realized in price and positioned for growth
$100 / kg Price for Performance
$10 / kg
$3 / kg
$100/kg
High-Performance Polymers (HPP)
5%
$10/kg
Engineering Thermoplastics (ETP)
$3/kg
others = 2%
Performance
Price Range
Ranges
PU = 6%
95% Standard Polymers
$1/ kg PET = 7%
ABS, SAN, ASA: 3%
PS, EPS = 8%
PVC = 17%
PE = 31% PP = 21%
$1/kg
Range of Products
9
10. AEM: significant opportunity for
increased penetration in high growth
region
Advanced Engineered Materials
Global Auto Production
Type of Resins
China
Japan
6
2001
U.S.
Germany
14
2007
India
S. Korea
2010E 18
China production
France
nearly doubles Highest
Brazil
within 5 years 40
Current
Spain Model
Canada 2006 Production China
2.5 Trend
Current
Production Growth 2006-2012
Mexico
0 3,000 6,000 9,000 12,000 15,000
Pounds per Vehicle
Vehicle Production (Thousand units)
Source: Global Insight Source: Celanese Estimates
10
11. AEM: megatrends driving growth for
Vectra® LCP through LED lighting
Customer
Requirements
High flow
►
Low emissions
►
Dimensional
►
stability
Pinpoint light
►
Drivers:
source
Improved safety
►
Lower energy consumption
►
$5.1 billion $17.4 billion
Miniaturization
►
Aesthetics
►
in 2006 in 2017
Design trends
►
Audi A8 Audi R8 LED Street Lamps Applying Connector
Daytime Running 54 LEDs per Expertise to New
Lights Headlamp Technologies
11 Source: Philips
12. IS: technology enhancements open
$1.0 billion of new growth opportunities
Global Vinyl Emulsions Applications Driving 2010 Growth
2010E
Growth
4.0
Applications Application
>25% Rate
Sales ($MM)
~30%
3.0
$ in billions
~25% Low VOC and nano
$400 – $500 10+%
increase in paints
2.0
vinyl space
Engineered
$200 – $300 3% - 5%
fabrics/glass fiber
1.0
Enviro-friendly
$100 – $200 8%
adhesives
0.0
2006 2010E China building/
$100 – $200 30+%
construction
Others
Celanese
$1.0 billion expansion = >$250 million in revenue
12
13. IS: current regulatory trends enabling
growth potential for VAE in U.S.
VOC Regulatory Trends for
European Interior Paint
European VAE Success Flat to Semi-Gloss Paints
Industry Development
50%
VAE Share of Interior
1999
US VOC grams/liter
EU VOC parts/liter
VOC (g/L): 250 – 380
Paints
VOC Content 2004
VOC (g/L): 100 – 150
0%
European
1996 2006 2010E
Standard
Celanese Others
1990 2006
1999 2008
Current trends in U.S. following European precedent
►
► In 2008, Southern California will further restrict emission requirements in paints
► Today, less than 25% of the interior paints meet the contemplated guidelines
$100 - $2001 per ton estimated cost for non-VAE emulsions to achieve standard
► U.S. interior paint opportunity ~$1.0 billion
VAE provides favorable substitution for low-VOC requirements
1 Based on Celanese estimates
13
14. AI: consumer trends support long-term
growth 1-2% greater than GDP
Acetyl Product
Key Trends End Market Increased Demand
Benefited
Paints, coatings, inks and adhesives
Emerging
VAM, Esters
used in residential and commercial
Economies
applications
Acetic Acid, Acetic
Demographics Pharmaceuticals
Anhydride
Increased demand for packaging films
Affluence VAM
(PVOH, EVOH)
Convenience Films and polyester Acetic Acid, VAM
Water Consumption of bottled water Acetic Acid
Environmentally friendly paints and
Environment VAM (for VAE)
coatings
14
15. AI: continued >GDP demand growth
driven by each major end use
Acetic Acid End-Use Growth
Annual acetic acid
►
(2000 – 2010)
demand growth of ~4.5%
through at least 2010
12,000 350
► Each end market is
China Acetic Acid Demand (indexed at 100)
experiencing favorable
CAGR 12%
Acetic Acid Demand by End-Use, kta
300
10,000
demand expansion
► 2007 – 2010 estimated
250
8,000
CAGR:
200
VAM: 6%
6,000
150
PTA: 7%
4,000
Esters: 4%
100
Anhydride: 3%
2,000
50
0 0
2000 2004 2007 2010
Strong acetic acid
VAM PTA Esters Anhydride Other China Demand
continues through 2010
Source: Tecnon and Celanese Estimates, 2008
15
16. AI: advantaged operating costs and
favorable supply/demand continues
through 2010
2010E Acetic Acid Cost Curve (kt)
Acetic Acid Supply/Demand Balance
(based on nameplate capacity)
High Cost
12,000
Ethylene Low Cost
High Cost Supply
Demand
Ethanol 10,000
8,000
Celanese
Conventional
Technology
kt
6,000
MeOH/CO
AOPlus™/Leading 4,000
Competition
2,000
By-
prod
0
2004 2005 2006 2007 2008E 2009E 2010E
Utilization of
0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Effective
Capacity1(11/07 ): 91% 93% 92% 94% 93% 91% 91%
12008E-2010E effective utilization based on external analysis assumptions
Source: Celanese estimates, available public data
16
17. Recent initiatives to support growth
beyond 2010
Recent Actions
Direct to China
►
Announced plans to add polymer compounding
unit to the Nanjing Complex
Advanced
Commissioned start-up of Nanjing Celstran® unit
Engineered
Materials Kelsterbach relocation
►
Announced 40% capacity expansion at new
European POM facility
Signed an agreement with Wison to double
►
Nanjing CO supply increasing reliability and
supporting future expansion
Acetyl
Announced agreement with SWRI, a leading
Intermediates ►
Chinese technology institute, to acquire
technology licensing rights and development
capabilities
Recently announced authorization for $400 million share repurchase
17
18. Strong cash flow generation enables
future earnings growth
Adjusted Free Cash Flow1
Strong operating results
►
550
456
Working capital productivity
►
385
$ in millions
Decrease in overall borrowing
►
costs since 2005
Continued improvement in
►
interest coverage ratio
2006 2007 2008E
Enhanced capital flexibility
►
Operating EBITDA/Net Interest
Bias for growth spending
►
7x
8.0% Borrowing Rate
6.5x
6x
Maximize return to
►
6.1x
5x
shareholders
4.5x
4x
3.9x
3x
2x
6.9%
1x
0x
2005 2006 2007 2008E
1 Adjustedfree cash flow calculated as cash flow from operations less capital expenditures less other productive asset purchases less operating
18
cash from discontinued operations plus certain other charges – 2008 estimate excludes Kelsterbach relocation
19. Growth focused cash flow and capital
structure strategy
Cash Available for Strategic Use
Execute Growth Strategy Optimize Capital Structure
Cost Reduction
Core/Bolt-on Share Debt
& Revitalization Growth Projects Dividends
Acquisitions Repurchase Repayment
Projects
Capital Structure Objectives
Investment Criteria
Cost
Aligned with Strategic Pillars ►
►
Stability
2 – 4 year simple payback period ►
►
Flexibility
> 20 – 50% ROIC ►
►
Maximize shareholder value
►
19
20. Case for improved valuation
3Yr Avg EBITDA/Sales2
3Yr Avg FCF Yield2 3Yr Avg EBITDA Growth2
20% 20%
18%
15%
7%
14% 14%
14%
13%
5% 10%
5%
4%
4%
4%
2%
DOW PPG EMN ROH FMC CE -4%
-7%
DOW PPG EMN ROH FMC CE
DOW PPG EMN ROH FMC CE
NorthAvgEBITDAYield2 1 21
America Sales1
3Yr3YrForward % of Sales
3YrAvg % FCF Growth
Asia EBITDA/Sales
Avg of P/E2
66% 28%
12% 7%
20% 10%
15.8 20%
53% 52%
8% 18%
13.9
13.4 20%
45%
5% 45%
5%
15%
11.6 11.4
11.3
14% 14% 4%
4% 3% 15%
4% 14%
12% 28%
9%
-4%
-6%
North America % of Sales1
Asia % of Sales1
DOW PPG EMN ROH FMC CE
59% 28%
57%
25%
49%
22%
38% 37%
16%
29%
13%
11%
DOW PPG EMN ROH FMC CE
DOW PPG EMN ROH FMC CE
1Based on information provided in 2007 Form 10-K filings
2Thompson Financial as of April 30, 2008, Company reports, Celanese estimates
20
22. Delays continue to be common for
acetyl projects
Company Capacity 2005 2006 2007 2008 2009 2010
300kt
BP/FPC SU
A X
150kt
BP / Yaraco A X SU
200kt
Wujing A X X SU
150kt
Sopo A X SU
150kt
Fanavaran A X SU
200kt
Lunan Cathay X SU
A
500kt Cancelled
Acetex (Tasnee) A
600kt
Celanese Nanjing (Phase 1) X SU
A X
550kt
BP / Sinopec A X X X
425kt
Sipchem A X X X
200kt
Daqing A X SU
200kt
Hualu Hensheng X
A
350kt
Lunan Cathay (expansion) A X
600kt
Sopo (expansion) A X
200kt
Tianjin Bohei A X
Company announced startup CE 2005 update CE 2006 update CE 2007 update
A
X = Project delay SU = Actual plant startup
22
23. 2008 business outlook
(reaffirmed on July 22, 2008)
Volume growth at 2x GDP for full year – decreasing
►
auto builds in second half of 2008
Advanced
► Continued high energy and raw material costs
Engineered
expected to pressure margins
Materials
2008 Guidance:
► Continued progress with Asia strategy
Adjusted EPS
Strong underlying industry fundamentals
►
Consumer
$3.60 to $3.85
► Rising energy costs
Specialties
Operating EBITDA
High raw material costs continue
►
Industrial
$1,355 to $1,415 million
► Housing and construction softness
Specialties
Forecasted 2008
Strong underlying industry fundamentals
►
adjusted tax rate of
► Acetic acid prices expected to adjust only
Acetyl
modestly in second half of 2008 26%
Intermediates
► High raw material and energy costs continue
23
24. Advanced Engineered Materials
in millions 2nd Qtr 2008 2nd Qtr 2007
Net Sales $257
$300 up 17%
Operating EBITDA $70
$68 down 3%
Second Quarter 2008:
► Net sales increase driven by volume growth (8%) and positive
currency effects (9%)
► Growth in China and non-automotive applications more than offset
impacts of challenging U.S. automotive market
► Higher raw material and energy costs continue to pressure margins
► Operating EBITDA decrease primarily due to lower earnings from
equity affiliates
24
25. Consumer Specialties
in millions 2nd Qtr 2008 2nd Qtr 2007
Net Sales $281
$292 up 4%
Operating EBITDA $104
$107 up 3%
Second Quarter 2008:
► Net sales increase primarily driven by improved pricing on global
demand and favorable currency impacts
► Higher pricing offset by significantly higher raw material and energy
costs
► Operating EBITDA improvement driven by higher dividends from
expanded China acetate ventures
25
26. Industrial Specialties
in millions 2nd Qtr 2008 2nd Qtr 2007
Net Sales $355
$386 up 9%
Operating EBITDA $34
$37 up 9%
Second Quarter 2008:
► Increase in net sales primarily driven by favorable pricing and foreign
currency effects
► Volumes pressured by declines in certain North American and
European markets
► Operating EBITDA improvement mainly due to higher sales offsetting
raw material cost pressures
26
27. Acetyl Intermediates
2nd Qtr 2008 2nd Qtr 2007
in millions
Net Sales $829
$1,067 up 29%
Operating EBITDA $148
$227 up 53%
Second Quarter 2008:
► Record sales for the quarter attributable to higher pricing on
strong global demand, increased volumes from Nanjing and
favorable currency impacts
► Volume and pricing strength more than offset high input costs
versus the prior year which included impacts from the Clear Lake
outage
► Increased dividends from Ibn Sina also contributed to improved
Operating EBITDA
27
28. Reg G: Reconciliation of Adjusted EPS
Adjusted Earnings Per Share - Reconciliation of a Non-U.S. GAAP Measure
Three Months Ended Twelve Months Ended
December 31, December 31,
2007 2006 2007 2006
(in $ millions, except per share data)
Earnings from continuing operations
125 526
before tax and minority interests 313 447
Non-GAAP Adjustments:
1
Other charges and other adjustments 15 92
(93) 113
- -
Refinancing costs - 254
Adjusted earnings from continuing operations
140 618
before tax and minority interests 220 814
2
Income tax provision on adjusted earnings (35) (163)
(62) (228)
(1)
Minority interests (4)
(1) (1)
Adjusted earnings from continuing operations 157 104 585 451
Preferred dividends (2) (10)
(3) (10)
Adjusted net earnings available to common shareholders 154 102 575 441
Add back: Preferred dividends 2 10
3 10
Adjusted net earnings for adjusted EPS 157 104 585 451
Diluted shares (millions)
Weighted average shares outstanding 158.7 158.6
151.7 154.5
12.0
Assumed conversion of Preferred Shares 12.0 12.0
12.0
-
Assumed conversion of Restricted Stock - 0.4
0.6
1.8 1.2
Assumed conversion of stock options 4.3
4.3
Total diluted shares 172.5 171.8
168.6 171.2
Adjusted EPS 0.93 0.61 3.42 2.62
1
See Table 7 for details
2
The adjusted tax rate for the three and twelve months ended December 31, 2007 is 28% based on the original full year 2007 guidance.
28
29. Reg G: Reconciliation of Adjusted EPS
Adjusted Earnings (Loss) Per Share - Reconciliation of a Non-U.S. GAAP Measure
Three Months Ended Six Months Ended
June 30, June 30,
2008 2007 2008 2007
(in $ millions, except per share data)
Earnings (loss) from continuing operations
(168) 3
before tax and minority interests 247 465
Non-GAAP Adjustments:
1
Other charges and other adjustments 117 135
24 46
256 254
Refinancing costs - -
Adjusted Earnings (loss) from continuing operations
205 392
before tax and minority interests 271 511
2
Income tax (provision) benefit on adjusted earnings (57) (110)
(70) (133)
-
Minority interests 0
1 1
Adjusted Earnings (loss) from continuing operations 202 148 379 282
Preferred dividends (3) (5)
(2) (5)
Adjusted net earnings (loss) available to common shareholders 200 145 374 277
Add back: Preferred dividends 3 5
2 5
Adjusted net earnings (loss) for adjusted EPS 202 148 379 282
Diluted shares (millions)
Weighted average shares outstanding 156.9 158.1
150.9 151.4
12.0
Assumed conversion of Preferred Shares 12.0 12.1
12.1
0.2
Assumed conversion of Restricted Stock 0.5 0.6
0.8
5.2 4.2
Assumed conversion of stock options 3.4
4.1
Total diluted shares 174.6 174.5
167.8 167.6
Adjusted EPS $ 1.20 $ 0.85 2.26 1.62
1
See Table 7 for details
2
The adjusted tax rate for the three months ended June 30, 2008 is 26% based on the forecasted adjusted tax rate for 2008.
29
30. Reg G: Other Charges and Other Adjustments
Other Charges and Other Adjustments
Other Charges:
Three Months Ended Twelve Months Ended
December 31, December 31,
(in $ millions) 2007 2006 2007 2006
Employee termination benefits 1 12
5 32
(1)
Plant/office closures (1) 11
7
Insurance recoveries associated with plumbing cases (2) (5)
(2) (4)
Insurance recoveries associated with Clear Lake, Texas - -
(40) (40)
Resolution of commercial disputes with a vendor - -
(31) (31)
Deferred compensation triggered by Exit Event - -
- 74
Asset impairments - -
- 9
Ticona Kelsterbach plant relocation - -
1 5
-
Other 4
- 2
Total (60) (2) 58 10
Other Adjustments: 1
Three Months Ended Twelve Months Ended
December 31, December 31,
(in $ millions) 2007 2006 2007 2006
Executive severance & other costs related
to Squeeze-Out 2 30
- -
Ethylene pipeline exit costs - -
- 10
Business optimization 8 12
8 18
Foreign exchange loss related to refinancing transaction - -
- 22
Loss on AT Plastics films sale - -
- 7
2
Discontinued methanol production 16 52
- 31
Gain on disposal of investment (Pemeas) (11) (11)
- -
Gain on Edmonton sale - -
(34) (34)
Other 2 (1)
(7) 1
(33) 17 55 82
Total
(93) 15 113 92
Total other charges and other adjustments
1
These items are included in net earnings but not included in other charges.
2
Adjusted earnings per share included earnings from its discontinued methanol production which was included in the company's 2007 guidance.
30
31. Reg G: Other Charges and Other Adjustments
Reconciliation of Other Charges and Other Adjustments
Other Charges:
Three Months Ended Six Months Ended
June 30, June 30,
(in $ millions) 2008 2007 2008 2007
Employee termination benefits 25 25
4 11
-
Plant/office closures - 7
-
74
Long-term compensation triggered by Exit Event 74 -
-
3
Asset impairments 3 -
-
Ticona Kelsterbach plant relocation 3 3
3 5
-
Other 1
-
-
Total 7 105 23 106
Other Adjustments: 1
Three Months Ended Six Months Ended Income
June 30, June 30, Statement
Classification
(in $ millions) 2008 2007 2008 2007
Ethylene pipeline exit costs - 10 Other income/expense, net
(2) (2)
Business optimization 3 5 SG&A
9 18
Foreign exchange loss related to refinancing transaction 9 9 Other income/expense, net
- -
Ticona Kelsterbach plant relocation - - Cost of Sales
(2) (4)
Plant closures - - Cost of Sales
7 7
Other - 5 Various
5 4
17 12 23 29
Total
24 117 46 135
Total other charges and other adjustments
1
These items are included in net earnings but not included in other charges.
31
32. 32
Segment Data and Reconciliation of Operating Profit (Loss) to Operating EBITDA -
a Non-U.S. GAAP Measure
Three Months Ended Twelve Months Ended
December 31, December 31,
(in $ millions) 2007 2006 2007 2006
Net Sales
253 1,030
Advanced Engineered Materials 224 915
279 1,111
Consumer Specialties 224 876
331 1,346
Industrial Specialties 309 1,281
1,083 3,615
Acetyl Intermediates 831 3,351
1
Other Activities - 2
6 22
(186) (660)
Intersegment eliminations (164) (667)
Total 1,760 1,430 6,444 5,778
Operating Profit (Loss)
30 133
Advanced Engineered Materials 29 145
69 199
Consumer Specialties 41 165
26 28
Industrial Specialties 9 44
276 616
Acetyl Intermediates 107 456
1
Other Activities (77) (228)
(46) (190)
Total 324 140 748 620
Equity Earnings and Other Income/(Expense) 2
7 55
Advanced Engineered Materials 13 55
3 40
Consumer Specialties 2 24
- -
Industrial Specialties - (1)
27 78
Acetyl Intermediates 23 63
1
Other Activities 8 -
12 22
Total 45 50 173 163
Other Charges and Other Adjustments 3
(10) (5)
Advanced Engineered Materials (1) (5)
(27) (16)
Consumer Specialties - -
(1) 32
Industrial Specialties 2 16
(97) (38)
Acetyl Intermediates 16 52
1
Other Activities 42 140
(2) 29
Total (93) 15 113 92
Depreciation and Amortization Expense
18 69
Advanced Engineered Materials 17 65
12 51
Consumer Specialties 10 39
16 59
Industrial Specialties 14 59
25 106
Acetyl Intermediates 23 101
1
Other Activities - 5
6
2
Total 73 64 291 269
Operating EBITDA
Reg G: Reconciliation of Operating EBITDA
45 252
Advanced Engineered Materials 58 260
57 274
Consumer Specialties 53 228
41 119
Industrial Specialties 25 118
231 762
Acetyl Intermediates 169 672
1
Other Activities (25) (82)
(36) (134)
Total 349 269 1,325 1,144
1
Other Activities primarily includes corporate selling, general and administrative expenses and the results from captive insurance companies.
The 2007 Operating Profit (Loss) and Other Charges and Other Adjustments amounts include deductible associated with insurance recovery.
2
Includes equity earnings from affiliates, dividends from cost investments and other income/(expense).
3
Excludes adjustments to minority interest, net interest, taxes, depreciation, amortization and discontinued operations (See Table 7).