celanese 2008_may_roadshow_presentation_final

1

Celanese CorporationMay 2008

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.

3

Who is Celanese?

Leading Global Integrated Producer

of Chemicals and Advanced Materials

ExecutionDemonstrated track record

of delivering results

StrategyClear focus on growth and

value creation

CultureStrong performance

built on shared principles and

objectives

Superior Value Creation► Industry Leader

● Geographically balanced global positions

● Diversified end market exposure

► Strong Cash Generation

► Significant Growth Capability

● Track record of execution

● Clearly defined opportunities

4

Operating EBITDA1

Today’s portfolio: higher growth, more specialty

► 2007 Financial Highlights:● Net sales - $6,444 million● Operating EBITDA - $1,325 million

► Strategic growth plans continue to accelerate earnings of specialty businesses● Essentially all growth has come from

specialty businesses● Two-thirds of 2010 Growth

Objectives expected from specialty businesses

► Resulting in:● Higher growth rates● Increased overall earnings power of

the portfolio● Reduced volatility

-

200

400

600

800

1,000

1,200

1,400

2005 2006 2007

1Operating EBITDA excludes Other Activities of ($122), ($134) and ($82) respectively for the periods presented

Acetyl IntermediatesConsumer and Industrial SpecialtiesAdvanced Engineered Materials

$ in

mill

ions

5

Globally balanced and integrated businesses aligned to accelerate growth

Acetyl Intermediates (AI)

Formaldehyde

Differentiated Intermediates Specialty ProductsBuilding Block

Raw Materials

Advanced Engineered Materials

(AEM)

Industrial Specialties

(IS)

Consumer Specialties

(CS)

Ticona Engineering

Polymers

Emulsions

Acetate

AT Plastics

Nutrinova

PVOH

Affiliates

Acetic Acid

Anhydride and esters

VAM

6

Committed to delivering value creation

$350 – $400 million increased EBITDA profile plus EPS potential by 2010

Group Asia Revitalization Innovation Organic Balance Sheet

Operational Excellence

EBITDA Impact

Consumer and Industrial Specialties

X X X X >$100MM


X X X X >$100MM

Acetyl Intermediates X X X >$100MM

Celanese Corporate X X Incremental

EPS

Primary Growth Focus

Ope

ratin

g EB

ITD

AEP

S

7

0

200

400

2007 2008 2009 2010

Operating EBITDA Growth Objectives

On track and clear path forward to accelerate 2010 Growth Objectives

► AEM: volume growth > 2X GDP through further penetration

► CIS: Acetate continues execution on revitalization strategy; Emulsions/PVOH revitalization commences

► AI: Nanjing acetic acid plant startup leads integrated complex

Acetyl IntermediatesConsumer and Industrial SpecialtiesAdvanced Engineered Materials

$ in

mill

ions

8

AEM: value in technology and performance realized in price and positioned for growth

$1/ kg

$100 / kg$10 / kg$3 / kg

Price for Performance

95%

5%

Standard Polymers

High-Performance Polymers (HPP)Engineering Thermoplastics (ETP)

ABS, SAN, ASA: 3%

PE = 31% PP = 21%

PET = 7%

PU = 6%

PVC = 17% PS, EPS = 8%

others = 2%

Range of Products$1/kg

$100/kg$10/kg$3/kg

Pric

e R

ange

Perf

orm

ance

Ran

ges

9

14

6

2.5

40

18

Source: Global Insight

Pounds per Vehicle

Source: Celanese Estimates

AEM: significant opportunity for increased penetration in high growth region

0 3,000 6,000 9,000 12,000 15,000

Mexico

Canada

Spain

Brazil

France

S. Korea

India

Germany

U.S.

Japan

China

Vehicle Production (Thousand units)

2006 Production

Production Growth 2006-2012

China production nearly doubles within 5 years

Trend

Global Auto Production

2001

2010E

Highest Current Model

China Current

2007

Advanced Engineered Materials Type of Resins

10

AEM: megatrends driving growth for Vectra® LCP through LED lighting

$17.4 billion in 2017

Drivers:► Improved safety► Lower energy consumption► Miniaturization► Aesthetics► Design trends

LED Street LampsAudi A8 Daytime Running

Lights

Audi R8 54 LEDs per Headlamp

CustomerRequirements

► High flow► Low emissions► Dimensional

stability► Pinpoint light

source

Source: Philips

Applying Connector Expertise to New

Technologies

$5.1 billionin 2006

11

0.0

1.0

2.0

3.0

4.0

2006 2010E

Global Vinyl Emulsions Applications Driving 2010 Growth

OthersCelanese

IS: technology enhancements open $1.0 billion of new growth opportunities

$ in

bill

ions

Applications2010E

Application Sales ($MM)

Growth Rate

Low VOC and nanopaints $400 – $500 10+%

Engineered fabrics/glass fiber $200 – $300 3% - 5%

Enviro-friendly adhesives $100 – $200 8%

China building/construction $100 – $200 30+%

~25%

$1.0 billion expansion = >$250 million in revenue

~30% increase in vinyl space

>25%

12

IS: current regulatory trends enabling growth potential for VAE in U.S.

► 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

0%

50%

1996 2006 2010E

Celanese Others

European VAE Success

VAE

Shar

e of

Inte

rior

Pain

ts

European Interior Paint Industry Development

1990 2006

VOC Content

EU V

OC

par

ts/li

ter

1999 2008

US

VOC

gra

ms/

liter

1999VOC (g/L): 250 – 380

2004VOC (g/L): 100 – 150

VOC Regulatory Trends for Flat to Semi-Gloss Paints

European Standard

VAE provides favorable substitution for low-VOC requirements

1 Based on Celanese estimates

13

AI: consumer trends support long-term growth 1-2% greater than GDP

VAM, EstersPaints, coatings, inks and adhesives used in residential and commercial applications

Emerging Economies

Acetic AcidConsumption of bottled waterWater

Acetic Acid, VAMFilms and polyesterConvenience

VAM (for VAE)Environmentally friendly paints and coatingsEnvironment

VAMIncreased demand for packaging films (PVOH, EVOH)Affluence

Acetic Acid, Acetic AnhydridePharmaceuticalsDemographics

Acetyl Product BenefitedEnd Market Increased DemandKey Trends

14

AI: continued >GDP demand growth driven by each major end use

Acetic Acid End-Use Growth(2000 – 2010) ► Annual acetic acid

demand growth of ~4.5% through at least 2010

► Each end market is experiencing favorable demand expansion

► 2007 – 2010 estimated CAGR:

VAM: 6%PTA: 7%Esters: 4% Anhydride: 3%

Strong acetic acid continues through 2010

Source: Tecnon and Celanese Estimates, 2008

0

2,000

4,000

6,000

8,000

10,000

12,000

2000 2004 2007 2010

Acet

ic A

cid

Dem

and

by E

nd-U

se, k

ta

0

50

100

150

200

250

300

350

Chin

a Ac

etic

Aci

d D

eman

d (in

dexe

d at

100

)VAM PTA Esters Anhydride Other China Demand

CAGR 12%

15

AI: advantaged operating costs and favorable supply/demand continues through 2010

2010E Acetic Acid Cost Curve (kt) (based on nameplate capacity)

By-prod

High Cost Supply

Celanese Technology

0 2,000 4,000 6,000 8,000 10,000 14,000

Conventional MeOH/CO

AOPlus™/Leading Competition

Ethanol

Ethylene

12,000Utilization of EffectiveCapacity1(11/07 ): 91% 93% 92% 94% 93% 91% 91%

Acetic Acid Supply/Demand Balance

12008E-2010E effective utilization based on external analysis assumptionsSource: Celanese estimates, available public data

0

2,000

4,000

6,000

8,000

10,000

12,000

2004 2005 2006 2007 2008E 2009E 2010E

kt

High CostLow CostDemand

16

Recent initiatives to support growth beyond 2010

► Signed an agreement with Wison to double Nanjing CO supply increasing reliability and supporting future expansion

► Announced agreement with SWRI, a leading Chinese technology institute, to acquire technology licensing rights and development capabilities

► Direct to ChinaAnnounced plans to add polymer compounding unit to the Nanjing Complex

Commissioned start-up of Nanjing Celstran® unit

► Kelsterbach relocationAnnounced 40% capacity expansion at new European POM facility

Recent Actions


Acetyl Intermediates

Recently announced authorization for $400 million share repurchase

17

Strong cash flow generation enables future earnings growth

► Strong operating results► Working capital productivity► Decrease in overall borrowing

costs since 2005► Continued improvement in

interest coverage ratio► Enhanced capital flexibility► Bias for growth spending► Maximize return to

shareholders

1 Adjusted free cash flow calculated as cash flow from operations less capital expenditures less other productive asset purchases less operating cash from discontinued operations plus certain other charges – 2008 estimate excludes Kelsterbach relocation

Adjusted Free Cash Flow1

2006 2007 2008E

456385

550 - 600

$ in

milli

ons

3.9x

6.5x6.1x

4.5x

0x

1x

2x

3x

4x

5x

6x

7x

2005 2006 2007 2008E

Operating EBITDA/Net Interest

6.9%

8.0% Borrowing Rate

18

Cost Reduction & Revitalization

ProjectsGrowth Projects Core/Bolt-on

Acquisitions

Growth focused cash flow and capital structure strategy

Share Repurchase Dividends Debt

Repayment

Execute Growth Strategy Optimize Capital Structure

Cash Available for Strategic Use

► Cost► Stability► Flexibility► Maximize shareholder value

Capital Structure Objectives► Aligned with Strategic Pillars► 2 – 4 year simple payback period► > 20 – 50% ROIC

Investment Criteria

19

14% 15% 14%

18%20% 20%

DOW PPG EMN ROH FMC CE

3Yr Avg EBITDA/Sales2

25%

11%

16%

22%

13%

28%


Asia % of Sales1

5%

4% 4% 4%5%

7%


3Yr Avg FCF Yield2

38%

57% 59%

49%

37%29%


North America % of Sales1

-7%

10%

-4%

2%

14% 13%


3Yr Avg EBITDA Growth2

14% 15% 14%18%

20% 20%


3Yr Avg EBITDA/Sales1

-6%

8%

-4%

3%

12% 10%


3Yr Avg EBITDA Growth2

5%4% 4% 4%

5%

7%


3Yr Avg FCF Yield2

45%

66%53% 52%

45%

28%


North America % of Sales1

12%9%

14%

20%

15%

28%


Asia % of Sales1

Case for improved valuation

1Based on information provided in 2007 Form 10-K filings2Thompson Financial as of April 30, 2008, Company reports, Celanese estimates

11.6 11.313.4 13.9

15.8

11.4


Forward P/E2

20

Well positioned for continued earnings growth and value creation

Operating EBITDA Growth Objectives

0

200

400

2007 2008 2009 2010AI CIS AEM

Clear Growth Objectives

Improved Shareholder Value

Operating EBITDA/Net Interest

Increased Financial Flexibility

Operating EBITDA Margin

Improved Portfolio Performance

11%10%

11% 11%

17%19%

16%15% 15%

17%19%

20%19%

16%

21%

5%

10%

15%

20%

2000 2001 2002 2003 2004 2005 2006 2007As ReportedPro Forma for Current Portfolio

3.9x

6.5x6.1x

4.5x

0x

1x

2x

3x

4x

5x

6x

7x

2005 2006 2007 2008E

$ in

mill

ions

21

Appendix

22

600ktSopo (expansion)

200kt

350kt

Tianjin Bohei

Lunan Cathay (expansion)

A

A

A

200ktDaqing

200ktHualu Hensheng A

Delays continue to be common for acetyl projects

= Project delay

Company announced startup A CE 2005 update CE 2006 update CE 2007 update

500ktAcetex (Tasnee)

150ktSopo

150ktFanavaran

200ktLunan Cathay

200ktWujing

150ktBP / Yaraco

300ktBP/FPC

2008200720062005

425kt

550kt

600kt

Capacity

BP / Sinopec

Celanese Nanjing (Phase 1)

Sipchem

20102009Company

A

A

A

A

A

A

A

A

A

A

A

SU

X

SU

SU

X

X

X

X

SU

SU

Cancelled

X

X

X

X

X

X

X

X

X

SU

SU

X

SU

X

X

X

X

X

= Actual plant startupSUX

23

2008 business outlook (updated on April 22, 2008)

► Continued strong global demand► Incremental acetic acid volume

associated with China expansion► VAM and acetic anhydride production scheduled to

begin in Nanjing► Prices expected to adjust only modestly in 2008


► Volume growth >2x GDP across both transportation and non-transportation applications

► Continued high energy and raw material costs expected to pressure margins

► Significant progress expected in Nanjing production capabilities


► Synergy capture from APL integration► Strong underlying business fundamentals


► High raw material costs continue► Realize benefits from revitalization efforts


2008 Guidance:

Adjusted EPS $3.60 to $3.85

Operating EBITDA$1,355 to $1,415 million

Forecasted 2008 adjusted tax rate of

26%

24

$67

$2621st Qtr 2007

$60 down 10%$294 up 12%1st Qtr 2008

Operating EBITDA

Net Salesin millions


First Quarter 2008:► Net sales increase driven by volume growth (6%) and positive

currency effects (8%) ► Growth in China continues to drive results► Slight pricing declines due to geographic and product mix ► Higher raw material and energy costs continue to pressure margins► Overall lower earnings from equity affiliates contributed to decrease

in Operating EBITDA

25

First Quarter 2008:► Net sales increase primarily driven by European acquisition,

improved pricing on global demand and favorable currency impacts► Pricing more than offset significantly higher energy costs► Operating EBITDA improvement also includes acquisition synergies


$60$269

1st Qtr 2007

$65 up 8% $282 up 5%

1st Qtr 2008

Operating EBITDANet Salesin millions

26

First Quarter 2008:► Increase in net sales primarily driven by favorable pricing and foreign

currency effects► Volumes pressured by continued softness in U.S. housing and

construction segments► Increased revenues offset raw material cost pressures


$26$346

1st Qtr 2007

$36 up 38%$365 up 5%

1st Qtr 2008


27


$174$839

1st Qtr 2007

$246 up 41%$1,096 up 31%

1st Qtr 2008


First Quarter 2008:► Strong global demand sustained higher pricing levels and drove

record sales for the quarter► Incremental volumes from the Nanjing plant also contributed to

increase ► Favorable supply/demand environment and increased dividends

from Ibn Sina more than offset higher raw material and energy costs

28

Reg G: Reconciliation of Adjusted EPS

Adjusted Earnings Per Share - Reconciliation of a Non-U.S. GAAP Measure

(in $ millions, except per share data) 2008 2007Earnings from continuing operations before tax and minority interests 218 171 Non-GAAP Adjustments: Other charges and other adjustments 1 22 18 Refinancing costs - (2)Adjusted earnings from continuing operations before tax and minority interests 240 187 Income tax provision on adjusted earnings 2 (62) (52)Minority interests - - Adjusted earnings from continuing operations 178 135Preferred dividends (3) (2)Adjusted net earnings available to common shareholders 175 133Add back: Preferred dividends 3 2Adjusted net earnings for adjusted EPS 178 135

Diluted shares (millions)Weighted average shares outstanding 152.0 159.3Assumed conversion of Preferred Shares 12.0 12.0Assumed conversion of Restricted Stock 0.5 - Assumed conversion of stock options 2.8 3.1 Total diluted shares 167.3 174.4Adjusted EPS 1.06$ 0.77$ 1 See Table 7 for details2 The adjusted tax rate for the three months ended March 31, 2008 is 26% based on the forecasted adjusted tax rate for 2008.

Three Months EndedMarch 31,

29

Reg G: Other Charges and Other Adjustments

Other Charges and Other Adjustments

Other Charges:

(in $ millions) 2008 2007Employee termination benefits 7 - Plant/office closures 7 - Ticona Kelsterbach plant relocation 2 - Other - 1 Total 16 1

Other Adjustments: 1

IncomeStatement

(in $ millions) 2008 2007 ClassificationEthylene pipeline exit costs - 10 Other income/expense, netBusiness optimization 9 2 SG&ATicona Kelsterbach plant relocation (2) - Cost of SalesOther (1) 5 Various Total 6 17

Total other charges and other adjustments 22 18 1 These items are included in net earnings but not included in other charges.

March 31,

Three Months Ended

Three Months Ended

March 31,

30

Other Charges:

(in $ millions) 2007 2006 2007 2006Employee termination benefits 5 1 32 12 Plant/office closures 7 (1) 11 (1)Insurance recoveries associated with plumbing cases (2) (2) (4) (5)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 - - 2 4 Total (60) (2) 58 10

Other Adjustments: 1

(in $ millions) 2007 2006 2007 2006Executive severance & other costs related to Squeeze-Out - 2 - 30 Ethylene pipeline exit costs - - 10 - Business optimization 8 8 18 12 Foreign exchange loss related to refinancing transaction - - 22 - Loss on AT Plastics films sale - - 7 - Discontinued methanol production 2 - 16 31 52 Gain on disposal of investment (Pemeas) - (11) - (11) Gain on Edmonton sale (34) - (34) - Other (7) 2 1 (1) Total (33) 17 55 82

Total other charges and other adjustments (93) 15 113 92 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.

December 31, December 31,

Three Months Ended Twelve Months Ended

Three Months Ended Twelve Months Ended

December 31, December 31,

Reg G: Other Charges and Other Adjustments

Other Charges and Other Adjustments

31

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06N

et S

ales

Adv

ance

d En

gine

ered

Mat

eria

ls25

322

41,

030

91

5

Con

sum

er S

peci

altie

s27

9

22

4

1,11

1

876

I

ndus

trial

Spe

cial

ties

331

309

1,34

6

1,28

1

A

cety

l Int

erm

edia

tes

1,08

383

13,

615

3,

351

Oth

er A

ctiv

ities

1-

62

22

Int

erse

gmen

t elim

inat

ions

(186

)(1

64)

(660

)

(6

67)

Tota

l1,

760

1,43

06,

444

5,

778

Ope

ratin

g Pr

ofit

(Los

s) A

dvan

ced

Engi

neer

ed M

ater

ials

30

29

133

14

5

Con

sum

er S

peci

altie

s69

41

19

9

165

I

ndus

trial

Spe

cial

ties

26

9

28

44

A

cety

l Int

erm

edia

tes

276

10

7

616

45

6

Oth

er A

ctiv

ities

1(7

7)

(46)

(2

28)

(190

)

To

tal

324

14

0

748

62

0

Equi

ty E

arni

ngs

and

Oth

er In

com

e/(E

xpen

se) 2

Adv

ance

d En

gine

ered

Mat

eria

ls7

13

55

55

Con

sum

er S

peci

altie

s3

2

40

24

I

ndus

trial

Spe

cial

ties

-

-

-

(1

)

Ace

tyl I

nter

med

iate

s27

23

78

63

O

ther

Act

iviti

es 1

8

12

-

22

Tota

l45

50

17

3

163

Oth

er C

harg

es a

nd O

ther

Adj

ustm

ents

3

Adv

ance

d En

gine

ered

Mat

eria

ls(1

0)

(1)

(5)

(5)

C

onsu

mer

Spe

cial

ties

(27)

-

(16)

-

Ind

ustri

al S

peci

altie

s(1

)

2

32

16

Ace

tyl I

nter

med

iate

s(9

7)

16

(38)

52

O

ther

Act

iviti

es 1

42

(2)

140

29

To

tal

(93)

15

11

3

92

Dep

reci

atio

n an

d Am

ortiz

atio

n Ex

pens

e A

dvan

ced

Engi

neer

ed M

ater

ials

18

17

69

65

Con

sum

er S

peci

altie

s12

10

51

39

I

ndus

trial

Spe

cial

ties

16

14

59

59

Ace

tyl I

nter

med

iate

s25

23

10

6

101

O

ther

Act

iviti

es 1

2

-

6

5

Tota

l73

64

29

1

269

Ope

ratin

g EB

ITD

A A

dvan

ced

Engi

neer

ed M

ater

ials

45

58

252

26

0

Con

sum

er S

peci

altie

s57

53

27

4

228

I

ndus

trial

Spe

cial

ties

41

25

119

11

8

Ace

tyl I

nter

med

iate

s23

1

169

76

2

672

O

ther

Act

iviti

es 1

(25)

(3

6)

(82)

(1

34)

Tota

l34

9

269

1,

325

1,14

4

1 O

ther

Act

iviti

es p

rimar

ily in

clud

es c

orpo

rate

sel

ling,

gen

eral

and

adm

inis

trativ

e ex

pens

es a

nd th

e re

sults

from

cap

tive

insu

ranc

e co

mpa

nies

.

T

he 2

007

Ope

ratin

g P

rofit

(Los

s) a

nd O

ther

Cha

rges

and

Oth

er A

djus

tmen

ts a

mou

nts

incl

ude

dedu

ctib

le a

ssoc

iate

d w

ith in

sura

nce

reco

very

.2 I

nclu

des

equi

ty e

arni

ngs

from

affi

liate

s, d

ivid

ends

from

cos

t inv

estm

ents

and

oth

er in

com

e/(e

xpen

se).

3 E

xclu

des

adju

stm

ents

to m

inor

ity in

tere

st, n

et in

tere

st, t

axes

, dep

reci

atio

n, a

mor

tizat

ion

and

disc

ontin

ued

oper

atio

ns (S

ee T

able

7).

Thre

e M

onth

s En

ded

Dec

embe

r 31,

Twel

ve M

onth

s En

ded

Dec

embe

r 31,


33


Segm

ent D

ata a

nd R

econ

ciliat

ion

of O

pera

ting

Prof

it (L

oss)

to O

pera

ting E

BITD

A - a

Non

-U.S

. GAA

P Me

asur

e - U

naud

ited Tw

elve M

onth

s End

edMa

rch

31,

June

30,

Sept

embe

r 30,

Dece

mbe

r 31,

Dece

mbe

r 31,

(in $

millio

ns)

2006

2006

2006

2006

2006

Net S

ales

Adv

ance

d Eng

ineer

ed M

ateria

ls23

1

230

23

0

224

915

C

onsu

mer S

pecia

lties

216

22

3

213

22

4

87

6

Indu

strial

Spe

cialtie

s31

1

326

33

5

309

1,281

A

cetyl

Inter

media

tes80

9

839

87

2

831

3,351

O

ther A

ctivit

ies 1

5

6

5

6

22

In

terse

gmen

t elim

inatio

ns(1

52)

(1

67)

(184

)

(1

64)

(6

67)

To

tal

1,420

1,4

57

1,471

1,4

30

5,778

Oper

atin

g Pr

ofit

(Los

s) A

dvan

ced E

ngine

ered

Mate

rials

41

38

37

29

145

Con

sume

r Spe

cialtie

s42

47

35

41

16

5

In

dustr

ial S

pecia

lties

15

3

17

9

44

A

cetyl

Inter

media

tes10

3

12

0

12

6

10

7

45

6

O

ther A

ctivit

ies 1

(45)

(56)

(43)

(46)

(190

)

Tota

l15

6

15

2

17

2

14

0

62

0

Equi

ty E

arni

ngs a

nd O

ther

Inco

me/(

Expe

nse)

2

Adv

ance

d Eng

ineer

ed M

ateria

ls14

14

14

13

55

Con

sume

r Spe

cialtie

s-

22

-

2

24

In

dustr

ial S

pecia

lties

-

(1)

-

-

(1

)

A

cetyl

Inter

media

tes7

15

18

23

63

O

ther A

ctivit

ies 1

3

(3)

10

12

22

Tota

l24

47

42

50

16

3

Othe

r Cha

rges

and

Othe

r Adj

ustm

ents

3

Adv

ance

d Eng

ineer

ed M

ateria

ls(2

)

(2)

-

(1

)

(5)

Con

sume

r Spe

cialtie

s-

-

-

-

-

In

dustr

ial S

pecia

lties

1

10

3

2

16

Ace

tyl In

terme

diates

12

14

10

16

52

O

ther A

ctivit

ies 1

13

15

3

(2)

29

Tota

l24

37

16

15

92

Depr

eciat

ion

and

Amor

tizat

ion

Expe

nse

Adv

ance

d Eng

ineer

ed M

ateria

ls16

16

16

17

65

Con

sume

r Spe

cialtie

s11

9

9

10

39

Indu

strial

Spe

cialtie

s14

15

16

14

59

Ace

tyl In

terme

diates

23

32

23

23

101

Othe

r Acti

vities

11

2

2

-

5

To

tal

65

74

66

64

269

Oper

atin

g EB

ITDA

* A

dvan

ced E

ngine

ered

Mate

rials

69

66

67

58

260

Con

sume

r Spe

cialtie

s53

78

44

53

22

8

In

dustr

ial S

pecia

lties

30

27

36

25

118

Ace

tyl In

terme

diates

145

181

177

169

672

Othe

r Acti

vities

1(2

8)

(4

2)

(2

8)

(3

6)

(1

34)

To

tal

269

310

296

269

1,144

*Q

uarte

rly ea

rning

s for

the d

iscon

tinue

d Edm

onton

Meth

anol

14

12

10

16

52

op

erati

ons h

ave b

een i

nclud

ed in

Othe

r Cha

rges

and O

ther A

djustm

ents.

Oxo

Alco

hol D

ivest

iture

**-

-

26

39

65

Tota

l Ope

ratin

g EB

ITDA

- as

repo

rted

269

310

322

308

1,209

**F

or co

mpar

ative

purp

oses

. Th

e Oxo

Alco

hol D

ivesti

ture w

as re

flecte

d as a

disc

ontin

ued o

pera

tion f

or th

e thr

ee m

onths

ende

d Mar

ch 31

, 200

6 and

June

30, 2

006

in co

njunc

tion w

ith re

portin

g the

resu

lts fo

r the

first

and s

econ

d qua

rter o

f 200

7.

1 Oth

er A

ctivit

ies pr

imar

ily in

clude

s cor

pora

te se

lling,

gen

eral

and

admi

nistra

tive e

xpen

ses a

nd th

e re

sults

from

capti

ve in

sura

nce

comp

anies

.2 In

clude

s equ

ity e

arnin

gs fr

om af

filiat

es, d

ivide

nds f

rom

cost

inves

tmen

ts an

d oth

er in

come

/(exp

ense

).3 E

xclud

es a

djustm

ents

to m

inorit

y int

eres

t, ne

t inte

rest,

taxe

s, de

prec

iation

, amo

rtizati

on a

nd d

iscon

tinue

d op

erat

ions.

Thre

e Mon

ths E

nded

34


Segm

ent D

ata an

d Rec

oncil

iation

of O

pera

ting P

rofit

(Los

s) to

Ope

ratin

g EBI

TDA

- a N

on-U

.S. G

AAP

Meas

ure -

Una

udite

d Twelv

e Mon

ths E

nded

Marc

h 31,

June

30,

Sept

embe

r 30,

Dece

mber

31,

Dece

mber

31,

(in $

millio

ns)

2005

2005

2005

2005

2005

Net S

ales

Adv

ance

d Eng

ineer

ed M

ateria

ls23

9

22

3

212

213

88

7

C

onsu

mer S

pecia

lties

212

219

20

8

20

0

839

Indu

strial

Spe

cialtie

s20

6

26

3

305

286

1,0

60

Ace

tyl In

terme

diates

690

707

73

1

78

3

2,911

O

ther A

ctivit

ies 1

12

8

6

6

32

Inter

segm

ent e

limina

tions

(95)

(99)

(113)

(15

3)

(460)

To

tal1,2

64

1,321

1,3

49

1,335

5,2

69

Oper

ating

Pro

fit (L

oss)

Adv

ance

d Eng

ineer

ed M

ateria

ls39

5

18

(2)

60

Con

sume

r Spe

cialtie

s24

27

21

56

12

8

In

dustr

ial S

pecia

lties

-

5

5

(14)

(4)

A

cetyl

Inter

media

tes14

3

12

1

76

146

486

Othe

r Acti

vities

1(83

)

(33

)

(38

)

(30

)

(18

4)

Total

123

125

82

15

6

48

6

Equit

y Ear

nings

and O

ther

Inco

me/(E

xpen

se) 2

Adv

ance

d Eng

ineer

ed M

ateria

ls12

16

15

11

54

Con

sume

r Spe

cialtie

s-

2

(2)

3

3

In

dustr

ial S

pecia

lties

-

-

-

-

-

Ace

tyl In

terme

diates

12

(10

)

32

35

69

Othe

r Acti

vities

1(8)

18

(2)

5

13

To

tal16

26

43

54

13

9

Othe

r Cha

rges

and O

ther

Adju

stmen

ts 3

Adv

ance

d Eng

ineer

ed M

ateria

ls1

20

4

6

31

C

onsu

mer S

pecia

lties

1

-

10

(24

)

(13

)

In

dustr

ial S

pecia

lties

-

2

8

1

11

A

cetyl

Inter

media

tes19

11

15

(30)

15

O

ther A

ctivit

ies 1

45

(10

)

2

3

40

Total

66

23

39

(44

)

84

Depr

eciat

ion an

d Amo

rtiza

tion E

xpen

se A

dvan

ced E

ngine

ered

Mate

rials

15

14

13

18

60

C

onsu

mer S

pecia

lties

12

12

7

11

42

Indu

strial

Spe

cialtie

s12

11

7

17

47

A

cetyl

Inter

media

tes17

24

35

34

11

0

O

ther A

ctivit

ies 1

2

2

4

1

9

Total

58

63

66

81

268

Oper

ating

EBI

TDA*

Adv

ance

d Eng

ineer

ed M

ateria

ls67

55

50

33

20

5

C

onsu

mer S

pecia

lties

37

41

36

46

160

Indu

strial

Spe

cialtie

s12

18

20

4

54

A

cetyl

Inter

media

tes19

1

14

6

15

8

18

5

68

0

O

ther A

ctivit

ies 1

(44)

(23)

(34)

(21)

(122)

To

tal26

3

23

7

23

0

24

7

97

7

*Q

uarte

rly ea

rning

s for

the d

iscon

tinue

d Edm

onton

Meth

anol

18

10

4

3

35

oper

ation

s hav

e bee

n inc

luded

in O

ther C

harg

es an

d Othe

r Adju

stmen

ts.

Oxo A

lcoho

l Dive

stitu

re22

28

22

9

81

To

tal O

pera

ting E

BITD

A - a

s rep

orted

285

265

252

256

1,058

1 Othe

r Acti

vities

prim

arily

inclu

des c

orpo

rate

sellin

g, ge

nera

l and

admi

nistra

tive e

xpen

ses a

nd th

e res

ults f

rom

capti

ve in

sura

nce c

ompa

nies.

2 Inclu

des e

quity

earn

ings f

rom

affilia

tes, d

ivide

nds f

rom

cost

inves

tmen

ts an

d othe

r inco

me/(e

xpen

se).

3 Exc

ludes

adjus

tmen

ts to

mino

rity in

teres

t, net

inter

est, t

axes

, dep

recia

tion,

amor

tizati

on an

d disc

ontin

ued o

pera

tions

.

Thre

e Mon

ths E

nded

35

Reg G: Reconciliation of 2000 – 2006 Operating EBITDA

Total Celanese 2000 2001 2002 2003 2004 2005 1 2006 1

GAAP Operating Profit 78 (470) 162 133 130 573 747 Depreciation & Amortization 364 372 300 328 256 285 283 Other Charges & Other Adjustments 27 472 (1) 6 340 50 40 Equity Earnings and Other Income/(Expense) 58 58 58 92 75 150 174 Operating EBITDA 528 432 519 559 801 1,058 1,244

Net Sales 4,888 4,537 4,535 5,133 5,069 6,070 6,656 Operating EBITDA Margin 11% 10% 11% 11% 16% 17% 19%

Portfolio Adjustment 5% 5% 4% 6% 3% 3% 0%Pro Forma EBITDA Margin for Current Portfolio 16% 15% 15% 17% 19% 20% 19%1Amounts as reported in the 4Q 2006 earnings release

Reg G: 2006 – 2007 Adjusted Free Cash Flow2006 2007

Net cash provided by operating activities 751 566 Capital expenditures (244) (288) Other productive asset purchases (41) (51) Other charges (10) 158 Adjusted free cash flow 456 385

Date post:	02-Jun-2015
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Economy & Finance