Financial Performance - Celanese Corporation's adjusted EBIT is a key performance measure, providing transparency in evaluating operating results after removing unusual activities[11]. - The company reported a free cash flow measure, defined as net cash provided by operations less capital expenditures, indicating long-term cash generating ability[14]. - Net debt is defined as total debt less cash and cash equivalents, offering insights into the company's capital structure and credit quality[14]. - Operating EBITDA is calculated by adding depreciation and amortization to adjusted EBIT, providing a clearer view of operating performance[11]. - The adjusted earnings per share metric is used to assess primary operating results, excluding certain items that affect comparability[11]. - The adjusted EBIT margin is defined as adjusted EBIT divided by net sales, reflecting operational efficiency[11]. - Return on invested capital (adjusted) is calculated using adjusted EBIT tax-effected, assessing income generation from shareholders' and creditors' perspectives[14]. - The document includes reconciliations of non-GAAP financial measures to GAAP measures, ensuring clarity for investors[7]. - Celanese reported a net loss of 1,522millioninQ42024,comparedtoanetincomeof1,960 million in 2023[15]. - Adjusted EBIT for Q4 2024 was 333million,adecreasefrom1,753 million in Q4 2023, reflecting a significant decline in profitability[17]. - Operating EBITDA for Q4 2024 was 517million,downfrom608 million in Q4 2023, indicating a 15% year-over-year decline[15]. - Adjusted earnings from continuing operations for Q4 '24 were (1,514)million,translatingto(13.86) per share[21]. - The company experienced a loss from continuing operations before tax of (1,004)millionin2024[21].−CelaneseCorporationreportedanetlossof1,522 million for 2024, compared to a net earnings of 1,960millionin2023[44].−AdjustedEBITfor2024was1,648 million, slightly down from 1,753millionin2023[44].SegmentPerformance−ThecompanysegmentsitsoperationsintoEngineeredMaterialsandtheAcetylChain,withspecificfinancialmeasuresforeachsegment[4].−TheEngineeredMaterialssegmentreportedanoperatinglossof1,179 million in Q4 2024, with an operating margin of -21.0%[17]. - The Acetyl Chain segment achieved an operating profit of 951millioninQ42024,withamarginof20.05,607 million for 2024, with Q4 '24 sales at 1,281million[24].−AcetylChainsegmentachievednetsalesof4,763 million for 2024, with Q4 '24 sales at 1,110million[24].−OperatingEBITDAforEngineeredMaterialswas1,296 million in 2024, with a margin of 23.1%[19]. - Operating EBITDA for Acetyl Chain was 1,346millionin2024,withamarginof28.3173 million, representing 6.5% of net sales of 2,651million[39].−Thecompanyreporteda1292 million[39]. - Capital expenditures on property, plant, and equipment for Q4 2024 were 105million,contributingtoatotalof435 million for the year[39]. Debt and Equity - Net debt as of Q4 2024 was 11,617million,adecreasefrom12,118 million in Q3 2024[42]. - Celanese's long-term debt decreased to 11,078millionin2024from12,301 million in 2023[44]. - Celanese's shareholders' equity decreased to 5,175millionin2024from7,091 million in 2023[44]. Outlook and Strategic Initiatives - The company provided an outlook indicating a focus on cost management and operational efficiency to navigate market challenges[17]. - Celanese's total revenue for Q4 2024 was significantly impacted by lower demand across key markets, leading to a strategic review of its product offerings[17]. - The company is exploring potential acquisitions and partnerships to enhance its market position and drive future growth[17]. Other Financial Metrics - Total depreciation and amortization expense for Q4 2024 was 185million,comparedto189 million in Q4 2023[15]. - Celanese's interest expense increased to 676millioninQ42024,upfrom720 million in 2023[15]. - Depreciation and amortization expense totaled 728millionfor2024,withQ4′24at184 million[19]. - The company incurred exit and shutdown costs totaling 236millioninQ42024,withatotalof2,009 million for the year[43]. - Asset impairments amounted to 1,638millionin2024,withsignificantimpactsinQ32024[43].−Thecompanyfacedlegalsettlementsandcommercialdisputescostsof8 million in Q4 2024[43]. - The company reported an adjusted effective tax rate of 9% for both 2024 and 2023[22]. - The adjusted effective tax rate remained stable at 9% for both 2024 and 2023[44].
Celanese(CE)2025-02-18 21:36