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Celanese Corporation Reports Fourth Quarter 2012 Results, Adjusted Earnings Increased 16 Percent Over Prior Year, Expect 2013 Earnings Growth Of 12 To 14 Percent

Stocks in this article: CE

Celanese Corporation (NYSE: CE), a global technology and specialty materials company, today reported fourth quarter 2012 adjusted earnings per share of $0.67, a 16 percent increase over the prior year period, driven by expanded operating EBITDA margins in the company's Consumer Specialties, Advanced Engineered Materials and Acetyl Intermediates segments. Diluted earnings per share from continuing operations for the quarter were $0.60 compared with $0.61 last year.

  Three Months Ended  

Year Ended

December 31,

December 31,

(in $ millions, except per share data) - Unaudited   2012   2011 2012   2011
Net sales 1,501 1,614 6,418 6,763
Operating profit (loss) 86 97 511 690
Net earnings (loss) attributable to Celanese Corporation 95 95 605 607
Operating EBITDA 1 254 243 1,209 1,362
Diluted EPS - continuing operations $ 0.60 $ 0.61 $ 3.81 $ 3.81
Diluted EPS - total $ 0.59 $ 0.60 $ 3.79 $ 3.82
Adjusted EPS 2   $ 0.67 $ 0.58 $ 3.80 $ 4.47

1 Non-U.S. GAAP measure. See reconciliation in Table 1A.

2 Non-U.S. GAAP measure. See reconciliation in Table 6.

"Celanese completed 2012 with strong fourth quarter results reflecting the breadth of our global footprint, the depth of our product portfolio and our success in delivering innovative customer applications while also improving our cost position. As a result, we expanded operating EBITDA margins by 180 basis points and increased adjusted earnings per share by 16 percent over the prior year period even with a challenging economic environment and continued trough-like demand for acetyl products and derivatives," said Mark Rohr, chairman and chief executive officer. "Celanese also delivered strong cash flow, ending the year with nearly $1 billion of cash on the balance sheet and well positioned to pursue our growth initiatives and balanced capital deployment strategy in 2013."

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