This document provides details on Celanese Corporation's second quarter 2007 earnings conference call, including details on the call participants, forward-looking statements, and reconciliation of non-GAAP measures. It also summarizes key financial highlights and performance details for Celanese's business segments, including increased sales and operating EBITDA compared to the prior year. Equity investments also continued to deliver increased income and cash flow.
Celanese will hold a conference call on April 22, 2008 at 10:00 am ET to discuss its first quarter 2008 earnings. The call will feature Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO. The document provides forward-looking statements and non-GAAP financial measures to supplement GAAP reporting. It summarizes Celanese's financial highlights for Q1 2008, including revenue increases across most business segments and higher adjusted EPS compared to Q1 2007. Celanese affirms its 2008 guidance for adjusted EPS and operating EBITDA.
Celanese will hold a conference call on October 31, 2006 to discuss its third quarter 2006 earnings. The call will include presentations from Dave Weidman, President and CEO, and John J. Gallagher III, Executive Vice President and CFO. They will discuss Celanese's financial results for the third quarter, business segment highlights, capitalization, guidance for full year 2006, and reconciliation of certain non-GAAP financial measures used by management.
The document summarizes Celanese Corporation's third quarter 2007 earnings conference call that was scheduled for October 23, 2007 at 10:00 am ET. It would be led by Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO. The document provides an overview of Celanese's business segments and key financial highlights for the third quarter of 2007, including adjusted EPS of $0.73, a 7% increase in net sales, and operating EBITDA of $302 million. It also reviews the company's outlook and growth strategies for 2007.
Celanese will hold a conference call on February 6, 2007 at 10:00 am CT to discuss its 4th quarter 2006 earnings. The call will feature presentations from Dave Weidman, President and CEO, and John J. Gallagher III, Executive Vice President and CFO. The document provides an overview of Celanese's 4th quarter and full year 2006 financial highlights including net sales, operating profit, adjusted EPS, operating EBITDA, and free cash flow. It also outlines Celanese's objectives to grow operating EBITDA to $300-350 million by 2010 through business revitalization, innovation, organic growth in Asia, and a focus on operational excellence.
The document summarizes Celanese's 2Q 2008 earnings conference call. It includes an agenda with the Chairman and CEO and SVP and CFO scheduled to speak. It also provides forward-looking statements, non-GAAP financial measure definitions, and notes the results are unaudited. Key highlights are record net sales for the quarter driven by higher pricing and volumes in Asia, but lower operating profit and EPS due to higher raw material costs, and a plan to achieve growth objectives by 2010 through volume growth in advanced materials and consumer/industrial specialties.
This document discusses Celanese Corporation's performance in 2008 and strategies going forward. It contains the following key points:
1. Celanese reported strong financial results for the third quarter and year-to-date 2008, despite challenging market conditions.
2. The company has executed a strategy focused on specialty businesses and divesting non-core assets to create a more resilient portfolio.
3. Going forward, Celanese aims to accelerate growth in specialty businesses like Consumer Specialties and leverage its integrated operations and global positions.
Celanese held an Investor Day on December 13, 2006 in New York City. Celanese is a leading global chemical company with estimated 2006 revenue of $6.7 billion and operating EBITDA of $1.2 billion. Between 2000-2006, Celanese focused on strengthening its portfolio by investing in specialty businesses and divesting non-core assets. Celanese aims to continue growing earnings between 2007-2010 by expanding in Asia, growing downstream specialties, and organizational alignment to address growth opportunities.
This document provides an annual report for Constellation Energy. It summarizes that in 2004:
- Constellation Energy grew its earnings per share excluding special items by 17.4%, well above its 10% goal and the industry average.
- It achieved a 14.8% total return for shareholders through stock appreciation and dividends.
- It strengthened its balance sheet by reducing debt and expects to continue growing its dividend in line with earnings.
- It integrated recent acquisitions successfully to complement its competitive energy business and became the largest power provider to wholesale and commercial/industrial customers in North America.
Celanese will hold a conference call on April 22, 2008 at 10:00 am ET to discuss its first quarter 2008 earnings. The call will feature Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO. The document provides forward-looking statements and non-GAAP financial measures to supplement GAAP reporting. It summarizes Celanese's financial highlights for Q1 2008, including revenue increases across most business segments and higher adjusted EPS compared to Q1 2007. Celanese affirms its 2008 guidance for adjusted EPS and operating EBITDA.
Celanese will hold a conference call on October 31, 2006 to discuss its third quarter 2006 earnings. The call will include presentations from Dave Weidman, President and CEO, and John J. Gallagher III, Executive Vice President and CFO. They will discuss Celanese's financial results for the third quarter, business segment highlights, capitalization, guidance for full year 2006, and reconciliation of certain non-GAAP financial measures used by management.
The document summarizes Celanese Corporation's third quarter 2007 earnings conference call that was scheduled for October 23, 2007 at 10:00 am ET. It would be led by Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO. The document provides an overview of Celanese's business segments and key financial highlights for the third quarter of 2007, including adjusted EPS of $0.73, a 7% increase in net sales, and operating EBITDA of $302 million. It also reviews the company's outlook and growth strategies for 2007.
Celanese will hold a conference call on February 6, 2007 at 10:00 am CT to discuss its 4th quarter 2006 earnings. The call will feature presentations from Dave Weidman, President and CEO, and John J. Gallagher III, Executive Vice President and CFO. The document provides an overview of Celanese's 4th quarter and full year 2006 financial highlights including net sales, operating profit, adjusted EPS, operating EBITDA, and free cash flow. It also outlines Celanese's objectives to grow operating EBITDA to $300-350 million by 2010 through business revitalization, innovation, organic growth in Asia, and a focus on operational excellence.
The document summarizes Celanese's 2Q 2008 earnings conference call. It includes an agenda with the Chairman and CEO and SVP and CFO scheduled to speak. It also provides forward-looking statements, non-GAAP financial measure definitions, and notes the results are unaudited. Key highlights are record net sales for the quarter driven by higher pricing and volumes in Asia, but lower operating profit and EPS due to higher raw material costs, and a plan to achieve growth objectives by 2010 through volume growth in advanced materials and consumer/industrial specialties.
This document discusses Celanese Corporation's performance in 2008 and strategies going forward. It contains the following key points:
1. Celanese reported strong financial results for the third quarter and year-to-date 2008, despite challenging market conditions.
2. The company has executed a strategy focused on specialty businesses and divesting non-core assets to create a more resilient portfolio.
3. Going forward, Celanese aims to accelerate growth in specialty businesses like Consumer Specialties and leverage its integrated operations and global positions.
Celanese held an Investor Day on December 13, 2006 in New York City. Celanese is a leading global chemical company with estimated 2006 revenue of $6.7 billion and operating EBITDA of $1.2 billion. Between 2000-2006, Celanese focused on strengthening its portfolio by investing in specialty businesses and divesting non-core assets. Celanese aims to continue growing earnings between 2007-2010 by expanding in Asia, growing downstream specialties, and organizational alignment to address growth opportunities.
This document provides an annual report for Constellation Energy. It summarizes that in 2004:
- Constellation Energy grew its earnings per share excluding special items by 17.4%, well above its 10% goal and the industry average.
- It achieved a 14.8% total return for shareholders through stock appreciation and dividends.
- It strengthened its balance sheet by reducing debt and expects to continue growing its dividend in line with earnings.
- It integrated recent acquisitions successfully to complement its competitive energy business and became the largest power provider to wholesale and commercial/industrial customers in North America.
Celanese Corporation reported third quarter results for 2008 with increases in net sales, operating profit, and earnings per share compared to the previous year. However, the company adjusted its full year 2008 outlook downward due to expectations of continued economic slowdown in North America and Europe negatively impacting volumes. Net sales increased 16% to $1.82 billion driven by higher pricing and volumes, while operating profit rose to $151 million. Earnings per share increased to $1.01. The company expects full year adjusted earnings per share between $3.40-$3.55, down from previous guidance, and operating EBITDA between $1.32-$1.355 billion.
Celanese Corporation reported record second quarter results for 2008, with net sales increasing 20% and operating profit more than doubling compared to the second quarter of 2007. Several of Celanese's business segments saw higher sales and profits driven by increased pricing, volumes, and currency impacts. Despite challenges from higher raw material and energy costs, the company reaffirmed its full-year 2008 outlook for adjusted earnings per share and operating EBITDA.
public serviceenterprise group 1Q 2007 Slidesfinance20
This document provides a summary of PSEG's earnings conference call for the first quarter of 2007. Key highlights include:
1) PSEG reported operating earnings of $335 million or $1.32 per share for Q1 2007, an increase from $213 million or $0.85 per share in Q1 2006.
2) PSEG Power delivered strong results driven by the roll-off of below-market contracts and sustained top quartile nuclear performance.
3) PSE&G saw earnings growth from rate relief received in late 2006 and more normal weather compared to unusually warm conditions in 2006.
4) Cash flow and liquidity remain strong, allowing PSEG to reduce parent debt levels
The document provides an overview of AES Corporation's financial results for the first quarter of 2006. Some key highlights include revenues increasing 13% to $3.013 billion compared to the same period in 2005, driven largely by higher prices and currency effects. Income before taxes and minority interest increased 68% to $633 million. Diluted earnings per share from continuing operations were $0.52 compared to $0.19 in the prior year. Segment results were positively impacted by higher demand and prices across most business lines.
The document summarizes Celanese Corporation's 3Q 2008 earnings conference call and webcast scheduled for October 21, 2008. It includes an agenda with the Chairman and CEO and SVP and CFO slated to speak. The document also provides forward-looking statements, non-GAAP reconciliations, and highlights of Celanese's 3Q 2008 financial results including net sales, operating profit, adjusted EPS, and operating EBITDA by business segment. Celanese's affiliates continued to deliver value through dividends in 3Q 2008.
fpl group library.corporate-library. corporate-finance17
FPL Group reported record adjusted earnings per share for 2008, driven by strong performance at NextEra Energy Resources. NextEra Energy Resources had a record year and added approximately 1,300 MW of wind capacity. FPL's earnings were challenged by a weak Florida economy and flat customer growth. FPL will seek a new rate agreement in 2009 to support investments in cleaner generation. NextEra Energy Resources continues to perform well due to contributions from new and existing projects. FPL Group expects adjusted EPS of $4.05 to $4.25 for 2009.
Goodrich reported first quarter 2007 results with sales growth of 12% and segment operating income margin expansion to 14.5% compared to 12% in first quarter 2006. Net income was $100 million or $0.78 per share compared to $202 million or $1.60 per share in first quarter 2006, which included a large tax benefit. The company increased its full year 2007 outlook with sales expected between $6.3-6.5 billion and net income per share of $3.20-$3.35. Market channels such as commercial aerospace production and aftermarket as well as defense were expected to see continued growth through 2008 and beyond.
public serviceenterprise group european_tripfinance20
1) Public Service Enterprise Group (PSEG) is holding a European marketing trip from February 25-29, 2008 to promote its business.
2) PSEG provides forward-looking statements about its performance, which are subject to various risks and uncertainties that could cause actual results to differ.
3) PSEG presents non-GAAP operating earnings in addition to GAAP net income to exclude certain one-time items in order to provide a consistent performance measure.
Third Quarter 2012 Investor PresentationCNOServices
3Q12 results reflect management's successful recapitalization which lowered CNO's cost of capital while maintaining strong capital ratios. Significant progress was also made on resolving the OCB litigation.
CNO's businesses continued to perform well with core earnings building. Investments were made to strengthen distribution and product offerings.
Capital and liquidity remained strong after deploying $455 million to reduce diluted shares by 15% YTD. Metrics like RBC ratio and debt to capital excluding AOCI remained high.
1) Ecolab achieved record sales and earnings in 2008 despite challenging economic conditions and increasing costs. Net sales increased 12% to $6.1 billion and operating income increased 7% to $713 million.
2) Ecolab increased its quarterly dividend by 8% to $0.56 per share, representing its 17th consecutive annual dividend increase.
3) For 2009, Ecolab expects continued earnings growth excluding special items, and modest revenue growth at fixed currency exchange rates. However, raw material costs are expected to be above 2008 levels in the first half.
This document provides information on Raytheon Company's fourth quarter and full-year 2007 earnings. Key highlights include record bookings of $9.2 billion in Q4 and $25.5 billion for the year. Sales were $6 billion in Q4 and $21.3 billion for the year, both up 8%. Earnings per share from continuing operations was $1.45 in Q4 and $3.80 for the year. The document also provides guidance for 2008, forecasting sales between $22.4-22.9 billion and EPS from continuing operations of $3.65-3.80.
- The document provides AES Corporation's third quarter 2006 financial review, including highlights and guidance updates.
- Key highlights include a 14% increase in revenues year-over-year due to higher prices and new projects. Gross margin increased 9% while income before taxes declined 114% due to losses on asset sales related to restructuring.
- Guidance for 2006 was updated, with revenue growth expected at 9-10% and adjusted EPS estimated at $1.09, up from the prior guidance of $1.01.
The document summarizes Celanese Corporation's 1Q 2008 earnings conference call. It includes details on the speakers, forward-looking statements, non-GAAP reconciliations, and 1Q 2008 financial highlights for each business segment. Celanese reports higher sales driven by price increases and currency effects, though margins were pressured by rising input costs. Affiliate earnings and dividends increased. Celanese affirms 2008 guidance for adjusted EPS of $3.60-$3.85 and operating EBITDA of $1.355-$1.415 billion.
The document summarizes Celanese Corporation's 1Q 2009 earnings conference call. It provides an overview of the participants in the call and includes forward-looking statements and information on non-GAAP measures. The financial highlights show a year-over-year decline in net sales, operating profit, and adjusted EPS due to lower volumes and pricing pressure. Segment results are also down across most businesses compared to prior year. However, the company maintained a strong cash position and generated positive adjusted free cash flow for the quarter.
The document summarizes Celanese Corporation's second quarter 2008 earnings conference call. It provides an overview of the participants in the call, including the Chairman and CEO and Senior Vice President and CFO. Key highlights from the second quarter include record sales driven by higher pricing and growth in Asia, though operating profit declined due to higher raw material costs. The document reviews financial results and performance across Celanese's business segments and discusses continued strong cash generation and the company's outlook for 2008.
The document summarizes Celanese's 2Q 2008 earnings conference call. It includes an agenda with the Chairman and CEO and SVP and CFO scheduled to speak. It also provides forward-looking statements, non-GAAP reconciliations, and describes results as unaudited. Key highlights are record net sales for the quarter driven by higher pricing and volumes in Asia, though operating profit and EPS declined from significantly higher raw material costs. The company also reaffirms its path to achieving operating EBITDA growth objectives by 2010 through volume growth in advanced materials and further acetate tow penetration.
The document summarizes Celanese Corporation's 4Q 2007 earnings conference call. It includes highlights such as a 23% increase in 4Q net sales and a 52% increase in adjusted EPS compared to the same period last year. Celanese also provides guidance for 2008, forecasting adjusted EPS between $3.40-$3.70 and operating EBITDA of $1,290-$1,360 million. Segment results are presented for Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates. Affiliate contributions and continued strong cash generation are also discussed.
The document summarizes an upcoming earnings call for Celanese Corporation for the fourth quarter and full year of 2007. It lists Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO, as speakers on the call. The document also provides key financial highlights including year-over-year increases in 4Q 2007 net sales, operating profit, adjusted EPS, and operating EBITDA compared to 4Q 2006, as well as increases in full year 2007 net sales and operating EBITDA compared to full year 2006.
The document summarizes Celanese Corporation's 4Q 2007 earnings conference call. It includes highlights such as a 23% increase in 4Q net sales and a 52% increase in adjusted EPS compared to the same period last year. Celanese also provides guidance for 2008, forecasting adjusted EPS between $3.40-$3.70 and operating EBITDA of $1,290-$1,360 million. Segment results and details on continued strong cash generation are also presented. Key executives Dave Weidman and Steven Sterin will discuss 4Q performance and business outlook further on the earnings call.
The document summarizes Celanese Corporation's 1Q 2006 earnings conference call and webcast scheduled for May 9, 2006. It includes an agenda with the CEO and CFO slated to speak. Financial highlights are provided for Celanese's 1Q 2006 results including net sales growth of 12% and diluted adjusted EPS growth of 16% year-over-year. Guidance for full year 2006 adjusted EPS is given in the range of $2.50 to $2.90 per share. Various non-GAAP financial measures are reconciled to the most comparable GAAP measures.
The document summarizes Celanese's 4Q 2008 earnings conference call. It discusses Celanese's 4Q 2008 financial results including a net loss of $152 million compared to an operating profit in 4Q 2007, and an adjusted EPS of ($0.38) compared to $2.77 in 4Q 2007. It also provides highlights for each of Celanese's business segments and discusses the outlook for 2009 including expected continued volume declines.
The document summarizes Celanese's 4Q 2008 earnings conference call. It discusses Celanese's 4Q 2008 financial results including a net loss of $152 million compared to an operating profit in 4Q 2007, and an adjusted EPS of ($0.38) compared to $2.77 in 4Q 2007. It also provides highlights for each of Celanese's business segments and discusses the outlook for 2009 including expected continued volume declines.
Celanese Corporation reported third quarter results for 2008 with increases in net sales, operating profit, and earnings per share compared to the previous year. However, the company adjusted its full year 2008 outlook downward due to expectations of continued economic slowdown in North America and Europe negatively impacting volumes. Net sales increased 16% to $1.82 billion driven by higher pricing and volumes, while operating profit rose to $151 million. Earnings per share increased to $1.01. The company expects full year adjusted earnings per share between $3.40-$3.55, down from previous guidance, and operating EBITDA between $1.32-$1.355 billion.
Celanese Corporation reported record second quarter results for 2008, with net sales increasing 20% and operating profit more than doubling compared to the second quarter of 2007. Several of Celanese's business segments saw higher sales and profits driven by increased pricing, volumes, and currency impacts. Despite challenges from higher raw material and energy costs, the company reaffirmed its full-year 2008 outlook for adjusted earnings per share and operating EBITDA.
public serviceenterprise group 1Q 2007 Slidesfinance20
This document provides a summary of PSEG's earnings conference call for the first quarter of 2007. Key highlights include:
1) PSEG reported operating earnings of $335 million or $1.32 per share for Q1 2007, an increase from $213 million or $0.85 per share in Q1 2006.
2) PSEG Power delivered strong results driven by the roll-off of below-market contracts and sustained top quartile nuclear performance.
3) PSE&G saw earnings growth from rate relief received in late 2006 and more normal weather compared to unusually warm conditions in 2006.
4) Cash flow and liquidity remain strong, allowing PSEG to reduce parent debt levels
The document provides an overview of AES Corporation's financial results for the first quarter of 2006. Some key highlights include revenues increasing 13% to $3.013 billion compared to the same period in 2005, driven largely by higher prices and currency effects. Income before taxes and minority interest increased 68% to $633 million. Diluted earnings per share from continuing operations were $0.52 compared to $0.19 in the prior year. Segment results were positively impacted by higher demand and prices across most business lines.
The document summarizes Celanese Corporation's 3Q 2008 earnings conference call and webcast scheduled for October 21, 2008. It includes an agenda with the Chairman and CEO and SVP and CFO slated to speak. The document also provides forward-looking statements, non-GAAP reconciliations, and highlights of Celanese's 3Q 2008 financial results including net sales, operating profit, adjusted EPS, and operating EBITDA by business segment. Celanese's affiliates continued to deliver value through dividends in 3Q 2008.
fpl group library.corporate-library. corporate-finance17
FPL Group reported record adjusted earnings per share for 2008, driven by strong performance at NextEra Energy Resources. NextEra Energy Resources had a record year and added approximately 1,300 MW of wind capacity. FPL's earnings were challenged by a weak Florida economy and flat customer growth. FPL will seek a new rate agreement in 2009 to support investments in cleaner generation. NextEra Energy Resources continues to perform well due to contributions from new and existing projects. FPL Group expects adjusted EPS of $4.05 to $4.25 for 2009.
Goodrich reported first quarter 2007 results with sales growth of 12% and segment operating income margin expansion to 14.5% compared to 12% in first quarter 2006. Net income was $100 million or $0.78 per share compared to $202 million or $1.60 per share in first quarter 2006, which included a large tax benefit. The company increased its full year 2007 outlook with sales expected between $6.3-6.5 billion and net income per share of $3.20-$3.35. Market channels such as commercial aerospace production and aftermarket as well as defense were expected to see continued growth through 2008 and beyond.
public serviceenterprise group european_tripfinance20
1) Public Service Enterprise Group (PSEG) is holding a European marketing trip from February 25-29, 2008 to promote its business.
2) PSEG provides forward-looking statements about its performance, which are subject to various risks and uncertainties that could cause actual results to differ.
3) PSEG presents non-GAAP operating earnings in addition to GAAP net income to exclude certain one-time items in order to provide a consistent performance measure.
Third Quarter 2012 Investor PresentationCNOServices
3Q12 results reflect management's successful recapitalization which lowered CNO's cost of capital while maintaining strong capital ratios. Significant progress was also made on resolving the OCB litigation.
CNO's businesses continued to perform well with core earnings building. Investments were made to strengthen distribution and product offerings.
Capital and liquidity remained strong after deploying $455 million to reduce diluted shares by 15% YTD. Metrics like RBC ratio and debt to capital excluding AOCI remained high.
1) Ecolab achieved record sales and earnings in 2008 despite challenging economic conditions and increasing costs. Net sales increased 12% to $6.1 billion and operating income increased 7% to $713 million.
2) Ecolab increased its quarterly dividend by 8% to $0.56 per share, representing its 17th consecutive annual dividend increase.
3) For 2009, Ecolab expects continued earnings growth excluding special items, and modest revenue growth at fixed currency exchange rates. However, raw material costs are expected to be above 2008 levels in the first half.
This document provides information on Raytheon Company's fourth quarter and full-year 2007 earnings. Key highlights include record bookings of $9.2 billion in Q4 and $25.5 billion for the year. Sales were $6 billion in Q4 and $21.3 billion for the year, both up 8%. Earnings per share from continuing operations was $1.45 in Q4 and $3.80 for the year. The document also provides guidance for 2008, forecasting sales between $22.4-22.9 billion and EPS from continuing operations of $3.65-3.80.
- The document provides AES Corporation's third quarter 2006 financial review, including highlights and guidance updates.
- Key highlights include a 14% increase in revenues year-over-year due to higher prices and new projects. Gross margin increased 9% while income before taxes declined 114% due to losses on asset sales related to restructuring.
- Guidance for 2006 was updated, with revenue growth expected at 9-10% and adjusted EPS estimated at $1.09, up from the prior guidance of $1.01.
The document summarizes Celanese Corporation's 1Q 2008 earnings conference call. It includes details on the speakers, forward-looking statements, non-GAAP reconciliations, and 1Q 2008 financial highlights for each business segment. Celanese reports higher sales driven by price increases and currency effects, though margins were pressured by rising input costs. Affiliate earnings and dividends increased. Celanese affirms 2008 guidance for adjusted EPS of $3.60-$3.85 and operating EBITDA of $1.355-$1.415 billion.
The document summarizes Celanese Corporation's 1Q 2009 earnings conference call. It provides an overview of the participants in the call and includes forward-looking statements and information on non-GAAP measures. The financial highlights show a year-over-year decline in net sales, operating profit, and adjusted EPS due to lower volumes and pricing pressure. Segment results are also down across most businesses compared to prior year. However, the company maintained a strong cash position and generated positive adjusted free cash flow for the quarter.
The document summarizes Celanese Corporation's second quarter 2008 earnings conference call. It provides an overview of the participants in the call, including the Chairman and CEO and Senior Vice President and CFO. Key highlights from the second quarter include record sales driven by higher pricing and growth in Asia, though operating profit declined due to higher raw material costs. The document reviews financial results and performance across Celanese's business segments and discusses continued strong cash generation and the company's outlook for 2008.
The document summarizes Celanese's 2Q 2008 earnings conference call. It includes an agenda with the Chairman and CEO and SVP and CFO scheduled to speak. It also provides forward-looking statements, non-GAAP reconciliations, and describes results as unaudited. Key highlights are record net sales for the quarter driven by higher pricing and volumes in Asia, though operating profit and EPS declined from significantly higher raw material costs. The company also reaffirms its path to achieving operating EBITDA growth objectives by 2010 through volume growth in advanced materials and further acetate tow penetration.
The document summarizes Celanese Corporation's 4Q 2007 earnings conference call. It includes highlights such as a 23% increase in 4Q net sales and a 52% increase in adjusted EPS compared to the same period last year. Celanese also provides guidance for 2008, forecasting adjusted EPS between $3.40-$3.70 and operating EBITDA of $1,290-$1,360 million. Segment results are presented for Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates. Affiliate contributions and continued strong cash generation are also discussed.
The document summarizes an upcoming earnings call for Celanese Corporation for the fourth quarter and full year of 2007. It lists Dave Weidman, Chairman and CEO, and Steven Sterin, Senior Vice President and CFO, as speakers on the call. The document also provides key financial highlights including year-over-year increases in 4Q 2007 net sales, operating profit, adjusted EPS, and operating EBITDA compared to 4Q 2006, as well as increases in full year 2007 net sales and operating EBITDA compared to full year 2006.
The document summarizes Celanese Corporation's 4Q 2007 earnings conference call. It includes highlights such as a 23% increase in 4Q net sales and a 52% increase in adjusted EPS compared to the same period last year. Celanese also provides guidance for 2008, forecasting adjusted EPS between $3.40-$3.70 and operating EBITDA of $1,290-$1,360 million. Segment results and details on continued strong cash generation are also presented. Key executives Dave Weidman and Steven Sterin will discuss 4Q performance and business outlook further on the earnings call.
The document summarizes Celanese Corporation's 1Q 2006 earnings conference call and webcast scheduled for May 9, 2006. It includes an agenda with the CEO and CFO slated to speak. Financial highlights are provided for Celanese's 1Q 2006 results including net sales growth of 12% and diluted adjusted EPS growth of 16% year-over-year. Guidance for full year 2006 adjusted EPS is given in the range of $2.50 to $2.90 per share. Various non-GAAP financial measures are reconciled to the most comparable GAAP measures.
The document summarizes Celanese's 4Q 2008 earnings conference call. It discusses Celanese's 4Q 2008 financial results including a net loss of $152 million compared to an operating profit in 4Q 2007, and an adjusted EPS of ($0.38) compared to $2.77 in 4Q 2007. It also provides highlights for each of Celanese's business segments and discusses the outlook for 2009 including expected continued volume declines.
The document summarizes Celanese's 4Q 2008 earnings conference call. It discusses Celanese's 4Q 2008 financial results including a net loss of $152 million compared to an operating profit in 4Q 2007, and an adjusted EPS of ($0.38) compared to $2.77 in 4Q 2007. It also provides highlights for each of Celanese's business segments and discusses the outlook for 2009 including expected continued volume declines.
The document summarizes Celanese Corporation's 3Q 2008 earnings conference call. It provides an overview of the company's performance including a 16% increase in net sales driven by higher pricing and volumes. Operating profit increased to $151 million though margins were compressed by higher raw material costs. Adjusted EPS increased 7% to $0.78 per share. All business segments saw sales growth with Advanced Engineered Materials and Industrial Specialties impacted by weaker automotive and industrial end markets respectively. Affiliates continued to deliver value with $54 million in earnings. Strong cash generation resulted in $195 million in adjusted free cash flow.
Celanese held a conference call to discuss its fourth quarter 2005 earnings. Key highlights included strong underlying business results driven by higher pricing and demand. The company also provided an outlook for 2006, forecasting adjusted EPS between $2.50-$2.90. Significant contributions continue to come from equity and cost investments, which paid $154 million in dividends for full-year 2005, up from $77 million in 2004. Capitalization was also discussed, with net debt of $3.047 billion as of December 31, 2005.
The document summarizes the agenda and presentations for Celanese Corporation's 2007 Investor Day. The agenda included presentations on Celanese's business segments and strategies for growth, operational excellence, and value creation. Celanese aimed to pursue premier performance and deliver superior value creation through industry-leading growth and a geographically balanced global position across diversified end markets.
This document provides details on Celanese Corporation's second quarter 2006 earnings conference call, including an agenda with the CEO and CFO as speakers. It also provides financial highlights for Q2 2006 such as an 11% increase in net sales and an 18% rise in operating EBITDA. Celanese issues guidance for full year 2006 of adjusted EPS between $2.50-$2.80.
This document from Celanese Corporation discusses non-GAAP financial measures and forward-looking statements. It provides definitions and explanations for operating EBITDA, adjusted earnings per share, and adjusted free cash flow, which are used by management for planning, budgeting, and evaluating financial results. The document also contains forward-looking guidance on sales and earnings growth through 2010 for various divisions, driven by initiatives in Asia, innovation, and organic growth.
This document discusses Celanese Corporation's presentation at the Citi 5th Annual Small and Mid-Cap Conference on March 18, 2008. It begins with forward-looking statements and information on non-GAAP financial measures. Then, it provides an overview of Celanese as a leading global producer of chemicals and advanced materials. Finally, it outlines Celanese's strategies and growth opportunities in its key business segments to achieve its 2010 objectives of increasing operating EBITDA by $350-400 million.
The document is a presentation from Lehman Brothers on Celanese Corporation's High Yield Bond and Syndicated Loan Conference on March 14, 2008. It discusses Celanese's businesses, strategies, and financial performance. Specifically, it outlines Celanese's portfolio of businesses, geographic presence, growth objectives through 2010 aimed at increasing operating EBITDA by $350-400 million, strong cash flow generation, Asia growth strategy centered around a new complex in Nanjing, opportunities in advanced engineered materials and consumer/industrial specialties, and technology enhancements opening $1 billion in new opportunities in industrial specialties.
The document summarizes BB&T's 2nd Annual Manufacturing and Materials Conference held on March 20, 2008. It discusses Celanese, a leading global integrated producer of chemicals and advanced materials. Celanese has executed a strategy since 2000 to focus on businesses with sustainable competitive advantages, invest in advantaged positions, and aggressively pursue growth. Today Celanese has a more resilient portfolio with less volatility and is on track to meet growth objectives of $350-400 million in increased earnings by 2010 through organic growth and initiatives in Asia, revitalization, innovation, and operational excellence.
This document summarizes Celanese Corporation's presentation at the Credit Suisse 16th Annual Chemical Conference on September 26, 2007. Celanese has an attractive hybrid business model balanced between commodity and specialty chemicals. It aims to grow earnings from 2007 to 2010 through initiatives in Asia, revitalizing businesses like acetate and industrial specialties, and increasing sales of high-performance polymers. Celanese expects $300-350 million in additional operating EBITDA by 2010 through organic growth, operational excellence, and balance sheet improvements.
This document summarizes a presentation given by Celanese at the Morgan Stanley Global Basic Materials Conference on February 19-21, 2008. It discusses Celanese's business segments including Advanced Engineered Materials, Consumer and Industrial Specialties, and Acetyl Intermediates. It highlights Celanese's geographically balanced positions, track record of growth through acquisitions and investments, and goals to increase operating EBITDA through focused growth initiatives in Asia, product revitalization, and innovation.
Robert G. Bohn, Chairman, President and CEO of Oshkosh Truck Corporation, and Charles L. Szews, Executive VP and CFO, reported record financial results for the first quarter of fiscal year 2006. Sales increased 22.5% to $790.3 million and operating income grew 28.6% to $87 million. EPS increased 28.6% to $0.72. For fiscal year 2006, the company estimates sales between $3.3-3.4 billion, operating income between $316.5-329 million, and EPS between $2.55-2.65, representing growth of 17-21.6%.
1) Oshkosh reported record second quarter fiscal year 2006 results with sales up 25.6% and operating income up 27.3% driven by strong performance in the defense segment.
2) The defense segment results nearly doubled compared to the previous year due to growth in remanufactured and new truck sales, however challenges remain in locating used vehicle carcasses for remanufacturing.
3) The fire and emergency segment saw a temporary dip in earnings as anticipated due to heavily weighted airport product sales in the second half of the year and two component issues that delayed revenue recognition.
Robert G. Bohn, Chairman, President and CEO of Oshkosh Truck Corporation, discussed the company's strong third quarter fiscal year 2006 results and provided an outlook for fiscal years 2006 and 2007. Some highlights included record sales and operating income for Q3 2006. The company also announced two acquisitions, AK Specialty Vehicles and Iowa Mold Tooling, expected to be accretive to earnings in fiscal 2007. For fiscal 2006, Oshkosh estimates sales growth of 14.9-16.6% and EPS growth of 24-26%. Fiscal 2007 estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15.
Oshkosh Truck Corporation presented an investor presentation on its proposed acquisition of JLG Industries, Inc. The presentation discussed Oshkosh's track record of successful acquisitions and shareholder value creation. It also outlined the objectives of acquiring JLG to support growth above 15%, diversify into the fast-growing aerial work platform market, and execute its long-term acquisition strategy. Finally, the presentation provided an overview of Oshkosh Truck Corporation and its proven strategy of new product leadership, operational excellence, and strategic acquisitions that have fueled strong sales and earnings growth.
Robert Bohn, Chairman of Oshkosh Truck Corporation, discussed the company's strong fiscal 2006 financial results and outlook for fiscal 2007. Key points include:
1) Fiscal 2006 sales increased 15.8% and operating income grew 22%, with EPS up 26.6%.
2) The acquisition of JLG Industries was announced, which will diversify the company and support growth of over 15%.
3) Fiscal 2007 stand-alone estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15, with the JLG acquisition expected to be modestly accretive.
In this earnings call, Oshkosh Truck Corporation discusses its first quarter 2007 results. Sales increased 27.4% to $1.01 billion due to the acquisition of JLG Industries. Operating income decreased 3.9% to $83.6 million and EPS decreased 23.6% to $0.55. The company increased its full-year 2007 EPS estimate range to $3.15 to $3.25 per share. JLG is meeting expectations and integration is progressing well. Defense sales were lower compared to strong prior year results while fire and emergency and commercial saw strong performance.
This document summarizes an earnings conference call for Oshkosh Truck Corporation for the second quarter of fiscal year 2007. Sales increased 96.6% to $1.66 billion and operating income grew 69.1% to $134.8 million. For fiscal year 2007, the company estimates sales of $6.1-6.2 billion and operating income of $568-580 million. It also provides segment-level results and highlights for access equipment, defense, fire & emergency, and commercial.
1) Oshkosh reported strong third quarter 2007 results with sales increasing 108% to $1.85 billion and operating income up 133% to $192.7 million.
2) Access equipment and defense led the growth in sales and operating income. The acquisition of JLG was accretive to EPS by $0.35 per share.
3) For fiscal year 2007, Oshkosh estimates sales between $6.3-6.35 billion and EPS between $3.35-3.40, and for fiscal year 2008 estimates sales between $7-7.2 billion and EPS between $4.15-4.35.
The document summarizes Oshkosh Truck Corporation's fourth quarter fiscal 2007 earnings conference call. It discusses record sales and operating income for fiscal 2007. Projections are provided for fiscal 2008, estimating sales between $7.1-7.3 billion and operating income between $690-715 million. Segment performances are reviewed, with access equipment and defense highlighted as key growth drivers. Estimates are also given for interest expense, tax rates, capital expenditures and debt levels for fiscal 2008.
Oshkosh Corporation held an earnings conference call to discuss its first quarter fiscal year 2008 results. Sales increased 49% to $1.5 billion due to strong growth in access equipment and defense, while earnings per share declined 9.1% to $0.50. For fiscal year 2008, the company estimates revenue of $7.1-7.3 billion, operating income of $675-700 million, and earnings per share of $4.15-4.35. Challenging economic conditions are impacting commercial and fire & emergency segments, but global initiatives and cost reductions will support the full-year outlook.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2008. Key highlights include sales increasing 6.7% to $1.8 billion and operating income rising 24.8% to $168.2 million. EPS grew 42.6% to $0.97. While access equipment and defense saw strong demand, commercial and fire & emergency faced challenging market conditions. The company maintained its fiscal year 2008 EPS estimate range of $4.15 to $4.35.
The document summarizes Oshkosh Corporation's earnings conference call for the third quarter of fiscal year 2008. It discusses increases in sales revenue but decreases in operating income and earnings per share compared to the previous year. Several initiatives are mentioned to manage costs and cash flow in changing market conditions. Business segment results are provided, with strength in access equipment and defense but challenges in commercial and fire & emergency sectors.
This document is the transcript from Oshkosh Corporation's earnings conference call for the fourth quarter of fiscal year 2008. It discusses Oshkosh's financial results for Q4 and fiscal year 2008, including sales, operating income, earnings per share, and debt reduction. It also provides an outlook for fiscal year 2009, estimating revenues of $6.3-6.7 billion, operating income of $350-400 million, and EPS of $1.65-2.05. The transcript reviews performance and outlook for each of Oshkosh's business segments and discusses its financing plans.
Robert Bohn and David Sagehorn of Oshkosh Corporation gave a presentation at the Goldman Sachs Conference in November 2008. They discussed Oshkosh's strong financial position and actions taken to reduce costs and debt. While market conditions were volatile due to the economic downturn, Oshkosh was well positioned with backlogs in defense, fire, and refuse collection vehicles. The presentation outlined Oshkosh's segments and strategies to manage through the difficult economy.
1) The document is from a presentation given by Oshkosh executives Charles Szews and David Sagehorn at the R.W. Baird Industrial Conference on November 12, 2008.
2) Oshkosh reported sales increased 13.2% to $7.1 billion in fiscal 2008, with international sales reaching $2.1 billion. However, operating income decreased 1.5% and EPS decreased 5.9% due to non-cash impairment charges.
3) Oshkosh recently secured multiple defense contracts and sees opportunities in the domestic refuse collection vehicle market, but the current market volatility and credit crisis make fiscal 2009 projections difficult given exposure to construction and municipal spending.
Charles Szews, President and COO of Oshkosh Corporation, presented at the Cowen and Company Aerospace & Defense Conference on February 5, 2009. He discussed Oshkosh's business segments, products, competitive advantages, challenges, and actions taken in response to the economic downturn. Key points included reduced revenues and earnings in Q1 2009, cost reduction efforts, and focus on core businesses with strong backlogs like defense and fire apparatus that have gained market share.
Oshkosh Corporation held an earnings conference call to discuss its first quarter fiscal year 2008 results. Sales increased 49% to $1.5 billion due to strong growth in access equipment and defense, while earnings per share declined 9.1% to $0.50. For fiscal year 2008, the company estimates revenue of $7.1-7.3 billion, operating income of $675-700 million, and earnings per share of $4.15-4.35. Challenging economic conditions are impacting commercial and fire & emergency segments, but global initiatives and cost reductions will support the full-year outlook.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2008. Key highlights include sales increasing 6.7% to $1.8 billion and operating income rising 24.8% to $168.2 million. EPS grew 42.6% to $0.97. While access equipment and defense saw strong demand, commercial and fire & emergency faced challenging market conditions. The company maintained its fiscal year 2008 EPS estimate range of $4.15 to $4.35.
This document contains the transcript from Oshkosh Corporation's earnings conference call for the third quarter of fiscal year 2008. Key highlights include a 6.6% increase in quarterly sales to $1.97 billion but a 5.9% decrease in operating income to $181.2 million. EPS for the quarter decreased 1.7% to $1.19. Oshkosh revised its estimate for full year 2008 EPS to a range of $3.15 to $3.30.
This document summarizes an earnings conference call for Oshkosh Corporation for the fourth quarter of fiscal year 2008. It discusses the company's financial results including a 5.8% increase in sales to $1.9 billion but a 32% decrease in operating income to $122 million. The document also provides an overview of Oshkosh's fiscal year 2008 results and discusses challenges faced in various business segments due to economic conditions. It notes actions taken by the company to reduce costs and debt. An outlook is given for fiscal year 2009 noting market volatility and a plan to drive over $500 million in debt reduction. Business segment results and outlooks are also summarized.
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celanese q2_2007_earnings_pres
1. Celanese 2Q 2007 Earnings
Conference Call / Webcast
Friday, July 27, 2007 10:00 a.m. ET
Dave Weidman, Chairman and CEO
John J. Gallagher III, Executive Vice President and President
Acetyls and Celanese Asia
2. Forward Looking Statements, Reconciliation and Use of Non-GAAP
Measures to U.S. GAAP
Forward-Looking Statements
This release 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 release, 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.
Reconciliation of Non-U.S. GAAP Measures to U.S. GAAP
This release reflects four performance measures, operating EBITDA, affiliate EBITDA, adjusted earnings per share, and net debt 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 net debt is total debt.
Use of Non-U.S. GAAP Financial Information
§ 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. 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
flows from operating activities 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.
§ Affiliate EBITDA, a measure used by management to measure performance of its equity investments, is defined as the proportional operating profit plus the proportional
depreciation and amortization of its equity investments. Affiliate EBITDA, including Celanese Proportional Share of affiliate information on Table 8, is not a recognized term
under U.S. GAAP and is not meant to be an alternative to operating cash flow of the equity investments. The company has determined that it does not have sufficient
ownership for operating control of these investments to consider their results on a consolidated basis. The company believes that investors should consider affiliate EBITDA
when determining the equity investments’ overall value in the company.
§ 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 Items 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.
§ Net debt is defined as total debt less cash and cash equivalents. 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 capital structure. Our management and credit analysts use net debt to evaluate the company's capital structure and assess
credit quality. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.
2
3. Dave Weidman
Chairman and Chief Executive Officer
3
4. Celanese Corporation Q2 2007 Highlights
in millions (except EPS) 2nd Qtr 2007 2nd Qtr 2006
Net Sales $1,457
$1,556
Operating Profit $152
$71
Adjusted EPS $0.71
$0.84
Operating EBITDA $310
$326
Note: All figures exclude results of discontinued operations of Oxo Alcohol business.
4
5. Celanese continues to execute its growth
strategy
Primary Growth Focus
Balance Operational EBITDA
Group Asia Revitalization Innovation Organic
Sheet Excellence Impact
Consumer and
Operating EBITDA
X X X X
Industrial > $100MM
Specialties
Advanced
X X X X
Engineered > $100MM
Materials
Acetyl
X X X > $100MM
Intermediates
Celanese Incremental
EPS
X X EPS
Corporate
$300 – $350 million increased EBITDA profile plus EPS potential by 2010
5
6. John J. Gallagher III
Executive Vice President and President Acetyls and
Celanese Asia
6
7. Celanese Corporation Financial Highlights
≥ Net sales increased 7% from the prior
2nd Qtr 2nd Qtr
in millions (except EPS) 2007 2006 year
≥ Improved pricing partially offset
$1,556
Net Sales $1,457 reduced volumes in Chemical
Products
$71
Operating Profit $152 ≥ Volume increases in Ticona
≥ Inclusion of APL sales in Acetate
($117)
GAAP Net Earnings (Loss) $103
Products
Special Items ≥ Operating profit decreased 53% due
to other expenses related to long-
Other Charges/Adjustments $106 $37
term management compensation
Refinancing and Related Costs $265 -- and restructuring activities
≥ GAAP net earnings decreased to a
Adjusted EPS $0.84 $0.71
loss on expenses related to the debt
refinancing
Effective Tax Rate 28% 28%
≥ Adjusted EPS up 18% to $0.84/share
Diluted Share Basis 174.6 172.1
≥ Operating EBITDA increased 5% to
$326
Operating EBITDA $310 $326
7
8. Chemical Products
in millions 2nd Qtr 2007 2nd Qtr 2006
$1,002 up 3% $977
Net Sales
$176 down 15% $207
Operating EBITDA
Second Quarter 2007:
> Reduced volumes due to unplanned outage of Clear Lake acetic acid
unit
> Successful start-up of Nanjing acetic acid unit partially offset volume loss
> Sales increased due to higher pricing, currency and continued strong
demand
> Pricing strength could not offset margin impact of lower volumes and
higher raw material costs
8
9. Ticona Technical Polymers
in millions 2nd Qtr 2007 2nd Qtr 2006
$257 up 12% $230
Net Sales
$70 up 6% $66
Operating EBITDA
Second Quarter 2007:
> Net sales increase driven by strong volume growth (8%) and currency
effect (4%)
> Strong demand continues for all major products in Europe and Asia
> Moderate growth in North American automotive and housing
applications supported by strong growth in other end markets
> Volume growth partially offset by higher raw material and energy costs
9
10. Acetate Products
in millions 2nd Qtr 2007 2nd Qtr 2006
$235 up 34% $176
Net Sales
$80 up 45% $55
Operating EBITDA
> Increased revenues attributable to inclusion of APL acquisition in Q2
> Continued operating margin improvement with revitalization program
> Higher dividends from China ventures contributed to EBITDA improvement
Performance Products
in millions 2nd Qtr 2007 2nd Qtr 2006
$47 down 2% $48
Net Sales
$21 $21
Operating EBITDA
> Continued volume growth in Sunett™ and favorable currency impacts did not
fully offset decrease in non-core volumes
> Price reductions in line with company expectations
10
11. Strong performance continues for
Equity and Cost Investments
• Q2 2007: Cash flow higher than earnings impact due to increased cash dividend from
Acetate China ventures
• FY 2007 Income Guidance: Income modestly above 2006 full-year performance
• Full-year 2007 Cash Flow guidance: Cash flow approximates income statement impact
Income Statement Cash Flow
120
120
100
100
$ millions
$ millions
80
80
64
64
60 46
60 46
49
40
40 39
39 49
20 40
41
20 36
36
23 19
18 10
0
0
Q2 2006 Q2 2007 YTD 2006 YTD 2007
Q2 2006 Q2 2007 YTD 2006 YTD 2007
Dividends - Cost Investments
Dividends - Cost Investments
Dividends - Equity Investments
Earnings - Equity Investments
Note: All figures exclude results of discontinued operations of Oxo Alcohol business
11
12. Affiliates continue to deliver value
Equity Affiliate Preliminary Results - Celanese Proportional Share - Unaudited4
Equity Affiliate Preliminary Results - Total - Unaudited Three Months Ended Six Months Ended
Three Months Ended Six Months Ended (in $ millions) June 30, June 30,
(in $ millions) June 30, June 30, 2007 2006 2007 2006
2007 2006 2007 2006 Net Sales
Net Sales 145 287
Ticona Affiliates 137 265
1
Ticona Affiliates 312 619
294 571 133 253
Infraserv 205 316
2
Infraserv 411 753
343 664 278 342 540 581
Total
723 637 1,372 1,235
Total
Operating Profit
Operating Profit 24 45
Ticona Affiliates 21 42
49 93
Ticona Affiliates 44 88 9 14
Infraserv 7 11
25 42
Infraserv 16 31 33 28 59 53
Total
74 60 135 119
Total
Depreciation and Amortization
Depreciation and Amortization 6 12
Ticona Affiliates 5 11
13 27
Ticona Affiliates 10 22 7 14
Infraserv 6 13
13 11 26 24
21 40 Total
Infraserv 20 39
34 30 67 61
Total
Affiliate EBITDA3
Affiliate EBITDA3 30 57
Ticona Affiliates 26 52
16 27
Infraserv 13 23
62 120
Ticona Affiliates 54 110
46 39 84 75
Total
46 82
Infraserv 36 70
108 90 202 180
Total
Equity in net earnings of affiliates (as reported on the Income Statement)
15 29
Ticona Affiliates 12 26
Net Income
8 12
Infraserv 6 10
30 60
Ticona Affiliates 26 56
23 18 41 36
Total
27 40
Infraserv 16 28
57 42 100 84
Total
Afilliate EBITDA in excess of Equity in net earnings of affiliates5
Net Debt 15 28
Ticona Affiliates 14 26
107 107
Ticona Affiliates (27) (27) 8 15
Infraserv 7 13
47 47
Infraserv 63 63 23 21 43 39
Total
154 36 154 36
Total
Net Debt
46 46
Ticona Affiliates (15) (15)
17 17
Infraserv 21 21
63 6 63 6
Total
1
Ticona Affiliates includes PolyPlastics (45% ownership), Korean Engineering Plastics(50%) and Fortron Industries(50%)
2
Infraserv includes Infraserv Entities valued as equity investments (Infraserv Höchst Group - 31% ownership, Infraserv Gendorf - 39% and Infraserv Knapsack 27%)
3
Affiliate EBITDA is the sum of Operating Profit and Depreciation and Amortization, a non-U.S. GAAP measure
4
Calculated as the product of figures from the above table times Celanese ownership percentage
12
5
Product of Celanese proportion of Affiliate EBITDA less Equity in net earnings of affiliates; not included in Celanese operating EBITDA
13. Summary of Cash Flow Changes
Cash Flow from Operations Cash Used in Financing Activities
Year over Year Comparison
YTD YTD
Debt repayments ($211)
($ in millions) 2007 2006
Refinancing costs ($240)
Cash from operations $79 $167
Share repurchases ($258)
Discontinued operations $101 $28
Other $3
Cash from continuing operations $180 $195
Cash used in financing activities ($706)
Add back: Long-term mgmt comp $73
Total $253 $195
13
14. 2007 Business Outlook
> Clear Lake impact to continue into third quarter
Chemical
> Full production rates at Nanjing acetic acid
Products facility
> Continue >2x GDP volume growth across
transportation and non-transportation end-uses
Ticona
> Continuing high raw material costs
> Improved earnings continue from revitalization
Acetate efforts
Products > Integration of APL acquisition
> Strong business fundamentals continue
Performance
Products > Continued volume growth in core business
14
15. Impact from Recent Strategic Initiatives
2006
Q3 Q4 HY06
Adjusted EPS (As Reported) $0.79 $0.77 $1.56
Portfolio Enhancements:
Oxo Alcohol Divestiture ($0.08) ($0.13) ($0.21)
Edmonton Methanol Shut Down ($0.04) ($0.07) ($0.11)
Balance Sheet Improvements:
Debt Refinancing $0.04 - $0.06 $0.04 - $0.06 $0.08 - $0.12
Adjusted EPS (Comparable Basis) $0.71 - $0.73 $0.61 - $0.63 $1.32 - $1.36
≥ Divest non-core business lines
≥ Closed sale of oxo alcohol business in Q1 2007
≥ Discontinued methanol production unit in Q2 2007
≥ Capital structure opportunities
≥ Debt refinancing completed in Q2 2007 (reduced debt by ~$113 MM and lowered interest
expense by ~$10-15MM per quarter)
≥ Share repurchases (retired 2.4 million shares with Dutch auction and 8.5 million shares with
Board authorized plan – impacts not fully realized in EPS for Q2 2007)
15
17. Reg G: Reconciliation of Diluted Adjusted EPS
Adjusted Earnings Per Share - Reconciliation of a Non-U.S. GAAP Measure
Three Months Ended Six Months Ended
June 30, June 30,
2007 2006 2007 2006
(in $ millions, except per share data)
Earnings (loss) from continuing operations
before tax and minority interests (168) 134 3 251
Non-GAAP Adjustments:
1
Other charges and other adjustments 115 166
37 61
- -
Refinancing costs 256 254
Adjusted earnings from continuing operations
before tax and minority interests 203 171 423 312
2
Income tax provision on adjusted earnings (57) (118)
(48) (87)
(1)
Minority interests - - (1)
Adjusted earnings from continuing operations 146 122 305 224
Preferred dividends (3) (2) (5) (5)
Adjusted net earnings available to common shareholders 143 120 300 219
Add back: Preferred dividends 3 2 5 5
Adjusted net earnings for adjusted EPS 146 122 305 224
Diluted shares (millions)
Weighted average shares outstanding 156.9 158.6 158.1 158.6
12.0 12.0
12.0
Assumed conversion of Preferred Shares 12.0
-
0.2
Assumed conversion of Restricted Stock 0.5 -
1.5 4.2 1.4
5.2
Assumed conversion of stock options
Total diluted shares 174.6 172.1 174.5 172.0
Adjusted EPS 0.84 0.71 1.75 1.30
1
See Table 7 for details
2
The adjusted tax rate for the three and six months ended June 30, 2007 is 28% based on the original full year 2007 guidance.
17
18. Reg G: Reconciliation of Net Debt
Net Debt - Reconcilation of a Non-U.S. GAAP Measure
June 30, December 31,
2007 2006
(in $ millions)
Short-term borrowings and current
installments of long-term debt - third party and affiliates 187 309
3,198
Long-term debt 3,189
3,385 3,498
Total debt
Less: Cash and cash equivalents 470 791
Net Debt 2,915 2,707
18
19. Reg G: Reconciliation of 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) 2007 2006 2007 2006
Employee termination benefits 25 9 25 11
- -
-
Plant/office closures 2
Total restructuring 25 11 25 11
- -
Insurance recoveries associated with plumbing cases (2) (3)
Long-term compensation triggered by Exit Event 74 - 74 -
3 3
Asset impairments - -
Ticona Kelsterbach relocation 3 - 3 -
3
- 1
Other 4
Total 105 12 106 12
Other Adjustments: 1
Three Months Ended Six Months Ended
June 30, June 30,
(in $ millions) 2007 2006 2007 2006
Executive severance & other costs related
- 1
to Squeeze-Out 13 23
- 10
Ethylene Pipeline Exit -
3 5
Business Optimization - -
9 9
Foreign exchange loss related to refinancing transaction - -
2
Discontinued Methanol production (2) 12 31 26
- 4
Other - -
10 25 60 49
Total
115 37 166 61
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.
19
20. 20
Segment Data and Reconciliation of Operating Profit (Loss) to Operating EBITDA -
a Non-U.S. GAAP Measure.
Three Months Ended Six Months Ended
June 30, June 30,
(in $ millions) 2007 2006 2007 2006
Net Sales
1,002 2,004
Chemical Products 977 1,914
257 519
Technical Polymers Ticona 230 461
235 458
Acetate Products 176 343
47 92
Performance Products 48 97
Other Activities 1 58 117
68 129
(43) (79)
Intersegment eliminations (42) (67)
Total 1,556 1,457 3,111 2,877
Operating Profit (Loss)
91 239
Chemical Products 130 251
32 68
Technical Polymers Ticona 38 79
29 58
Acetate Products 29 52
16 32
Performance Products 16 33
Other Activities 1 (97) (120)
(61) (107)
Total 71 152 277 308
2
Equity Earnings and Other Income/(Expense)
18 22
Chemical Products 15 23
16 30
Technical Polymers Ticona 14 29
34 34
Acetate Products 21 21
1 1
Performance Products 1 1
Other Activities 1 (2) 3
(4) (3)
Total 67 47 90 71
3
Other Charges and Other Adjustments
30 76
Chemical Products 20 33
5 5
Technical Polymers Ticona (2) (4)
8 9
Acetate Products - -
- -
Performance Products - -
Other Activities 1 72 76
19 32
Total 115 37 166 61
Reg G: Reconciliation of Operating EBITDA
Depreciation and Amortization Expense
37 71
Chemical Products 42 75
17 34
Technical Polymers Ticona 16 32
9 16
Acetate Products 5 12
4 8
Performance Products 4 8
Other Activities 1 7 12 12
6
Total 73 74 141 139
Operating EBITDA
176 408
Chemical Products 207 382
70 137
Technical Polymers Ticona 66 136
80 117
Acetate Products 55 85
21 41
Performance Products 21 42
Other Activities 1 (21) (29)
(39) (66)
Total 326 310 674 579
1
Other Activities primarily includes corporate selling, general and administrative expenses
and the results from AT Plastics and captive insurance companies.
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).