Celanese Corporation Reports Third Quarter 2012 Results

  Celanese Corporation Reports Third Quarter 2012 Results

Business Wire

DALLAS -- October 22, 2012

Celanese Corporation (NYSE: CE), a global technology and specialty materials
company, today reported third quarter 2012 adjusted earnings per share of
$0.93. This compares with $1.27 in the prior year period. Increased volumes
and expanded operating margins in the company's portfolio of businesses
focused on customer-oriented solutions, which includes Advanced Engineered
Materials, and Consumer and Industrial Specialties, were offset by lower
margins in Acetyl Intermediates due to continued soft demand and lower pricing
across acetyl products and derivatives. Diluted earnings per share from
continuing operations for the quarter were $0.74 compared with $1.05 last
year.

                                                        
(in $ millions, except per share  2012       2011        2012       2011
data) - Unaudited
Net sales                            1,609       1,807       4,917       5,149
Operating profit (loss)              163         196         425         593
Net earnings (loss) attributable     117         167         510         512
to Celanese Corporation
Operating EBITDA ^1                  298         374         955         1,119
Diluted EPS - continuing           $ 0.74      $ 1.05      $ 3.21      $ 3.21
operations
Diluted EPS - total                $ 0.73      $ 1.05      $ 3.20      $ 3.22
Adjusted EPS ^2                   $ 0.93     $ 1.27     $ 3.13     $ 3.89

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

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

"Celanese delivered on its commitments with a solid quarter amid a challenging
economic environment. Our customer-oriented solution businesses generated
strong results, reflecting the value we provide to our customers, but demand
for acetyl products and derivatives remained at trough-like conditions. The
Advanced Engineered Materials and Consumer Specialties businesses each
expanded operating EBITDA margins sequentially and year-over-year, excluding
affiliate earnings," said Mark Rohr, chairman and chief executive officer.
"Celanese's strong operating cash flow in the third quarter enabled the
company to improve its net debt position by $124 million from the prior
quarter. We will continue to pursue our balanced capital deployment strategy
to optimize value for our shareholders."

Operating profit for the quarter was $163 million compared with $196 million
in the prior year on expanded operating margins in the company's
customer-oriented solution businesses which were offset by lower margins in
Acetyl Intermediates. The tax rate and diluted share count for adjusted
earnings per share in the third quarter were 17 percent and 160.1 million,
respectively. Net earnings were $117 million in the third quarter of 2012
compared with the prior year results of $167 million.

Net sales in the third quarter were $1,609 million compared to $1,807 million
in the prior year. The company's portfolio of customer-oriented solution
businesses delivered increased year-over-year volumes, but the lower sales in
the quarter were primarily driven by lower pricing in its Acetyl Intermediates
and Industrial Specialties businesses, as well as unfavorable currency impacts
across the company.

Recent Highlights

  *Started up the company's technology development unit for ethanol
    production at its facility in Clear Lake, Texas. The unit will support the
    company's continuing development of TCX^® ethanol process technology for
    customers in both industrial-grade and fuel ethanol.
  *Announced the company's new CelFX^TM matrix technology for filter media.
    CelFX^TM provides a flexible additive platform for innovation that allows
    our customers increased filter design flexibility, improved constituent
    reduction and supports a broad choice for enhancement additives.
  *Increased the company's share repurchase authorization to $400 million. As
    of September 30, 2012, the company had $136 million remaining under its
    previous authorization.

Third Quarter Business Segment Overview

Advanced Engineered Materials

Advanced Engineered Materials delivered sustained results despite the impact
of weaker economic conditions in Europe. Net sales were $322 million compared
with $332 million in the prior year period. Pricing was up by 3 percent,
reflecting the value of its innovative, customer-oriented solutions. Net
sales, however, were negatively impacted by unfavorable currency. Stronger
volumes in the Americas and Asia were more than offset by softer European
demand across the majority of its product lines. Operating EBITDA was $109
millioncompared with $112 million in the prior year period as the higher
pricing was offset by lower equity earnings and currency impacts. Equity
earnings from the company's affiliates were $45 million compared with $52
million in the prior year period, driven by lower methyl tertiary-butyl ether
(MTBE) pricing in the company's Ibn Sina affiliate. Operating profit in the
third quarter of 2012 was $43 million compared with $14 million in the same
period last year, primarily due to other charges and other adjustments in the
third quarter of 2011 related to the company's startup and expansion of its
polyacetal (POM) facility in Frankfurt Hoechst Industrial Park, Germany.

Consumer Specialties

Consumer Specialties delivered improved year-over-year performance reflecting
the value-added applications it provides to its global customer base. Net
sales increased to $314 million compared with $298 million in the same period
last year, primarily driven by 6 percent higher year-over-year pricing on
continued strong global demand. Operating EBITDA was $87 million compared with
$78 million in the same period last year as operating EBITDA margins expanded
on the higher pricing. Operating profit in the quarter increased to $70
million from $66 million last year.

Industrial Specialties

Industrial Specialties' net sales in the third quarter of 2012 were $297
million compared with $332 million in the prior year period. Volumes increased
by 2 percent year-over-year, primarily due to increased demand in North
America and Asia, partially offset by lower European volumes. However, pricing
in the quarter was lower than the prior year period due to weaker demand in
its Ethylene Vinyl Acetate (EVA) applications and lower raw material costs.
Third quarter results were also negatively impacted by the Euro. Operating
EBITDA was $36 million compared with $43 million in the prior year period as
record results in Emulsions this quarter were more than offset by lower demand
for EVA applications. Operating profit in the third quarter of 2012 was $23
million compared with $30 million in the prior year period.

Acetyl Intermediates

Acetyl Intermediates' net sales in the third quarter of 2012 were $785 million
compared with $975 million in the same period last year, primarily due to
lower pricing and demand across the acetyl chain, as well as negative currency
impacts. The lower pricing in the period reflects continued weak economic
conditions in Europe and Asia which contributed to softer global demand for
acetyl products. Additionally, temporarily elevated industry utilization in
the third quarter of 2011 due to planned and unplanned outages of acetyl
producers resulted in higher industry pricing in the prior year period.
Operating EBITDA in the third quarter of 2012 was $91 million compared with
$168 million in the same period last year, primarily due to the lower pricing
which was partially offset by lower raw material costs. Operating profit in
the current period was $62 million compared with $128 million in the same
period last year.

Taxes

The tax rate for adjusted earnings per share was 17 percent in the third
quarter of 2012 and the third quarter of 2011. The effective tax rate for
continuing operations for the third quarter of 2012 was 31 percent compared
with 17 percent in the same period last year. The higher effective tax rate in
the third quarter of 2012 was primarily due to changes in uncertain tax
positions. Net cash taxes paid were $54 million in the first nine months of
2012 which were comparable with $48 million in the first nine months of 2011.

Strategic Investments

Earnings from equity investments, which are reflected in the company's
earnings and operating EBITDA, were $50 million in the third quarter of 2012,
a $7 million decrease from the prior year period primarily due to lower MTBE
pricing in the company's Ibn Sina affiliate. The cash flow impact of equity
investments was $37 million, a $10 million decrease from the prior year
period, also related to the company's Ibn Sina affiliate.

Cash Flow

During the first nine months of 2012, the company generated $661 million in
cash from operating activities, an $180 million increase from the same period
last year, primarily driven by lower trade working capital versus the prior
year period. Cash used in investing activities during the first nine months of
2012 was $397 million compared with $296 million in the same period last year.
The 2012 results include the company's acquisition of two product lines from
Ashland Inc. and investments in other productive assets. In 2011, we received
the final payment of $158 million associated with the relocation of our POM
operations in Germany, partially offset by lower related capital expenditures
in the current period. Net cash used in financing activities during the first
nine months of 2012 was $21 million compared with $224 million in the prior
year period. During the second quarter of 2011, the company used a net of $116
million to prepay a portion of one of its term loan facilities. Net debt at
the end of the third quarter of 2012 was $2,052 million, a $283 million
decrease from the end of 2011.

Outlook

"We expect the challenging global economic environment will continue into
2013. Despite this and normal seasonality, we expect fourth quarter 2012
adjusted earnings will be modestly higher than the prior year, reflecting the
progress we are making on actions that are within our control. For 2013, we
expect earnings growth will be driven by Celanese-specific initiatives and be
consistent with our long-term growth objectives of 12 to 14 percent," said
Rohr. "We will continue to focus on technology platforms that expand the
company's addressable opportunities and invest in technology innovation that
enhances our growth prospects."

The company's earnings presentation and prepared remarks related to the third
quarter results will be posted on its website at www.celanese.com in the
investor section after market close on October 22.

Celanese Corporation is a global technology leader in the production of
specialty materials and chemical products that are used in most major
industries and consumer applications. Our products, essential to everyday
living, are manufactured in North America, Europe and Asia. Known for
operational excellence, sustainability and premier safety performance,
Celanese delivers value to customers around the globe with best-in-class
technologies. Based in Dallas, Texas, the company employs approximately 7,600
employees worldwide and had 2011 net sales of $6.8 billion, with approximately
73% generated outside of North America. For more information about Celanese
Corporation and its global product offerings, visit www.celanese.com or the
company's blog at www.celaneseblog.com.

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,” “may,” “can,”
“could,” “might,” “will” 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 results expressed or implied in the
forward-looking statements contained in this release. These risks and
uncertainties include, among other things: changes in general economic,
business, political and regulatory conditions in the countries or regions in
which we operate; the length and depth of product and industry business
cycles, particularly in the automotive, electrical, electronics and
construction industries; changes in the price and availability of raw
materials, particularly changes in the demand for, supply of, and market
prices of ethylene, methanol, natural gas, wood pulp and fuel oil and the
prices for electricity and other energy sources; the ability to pass increases
in raw material prices on to customers or otherwise improve margins through
price increases; the ability to maintain plant utilization rates and to
implement planned capacity additions and expansions; the ability to improve
productivity by implementing technological improvements to existing plants;
increased price competition and the introduction of competing products by
other companies; market acceptance of our technology; the ability to obtain
governmental approvals and to construct facilities on terms and schedules
acceptable to the company; changes in the degree of intellectual property and
other legal protection afforded to our products or technology, or the theft of
such intellectual property; compliance and other costs and potential
disruption or interruption of production or operations due to accidents, cyber
security incidents, terrorism or political unrest or other unforeseen events
or delays in construction or operation of facilities, including as a result of
geopolitical conditions, including the occurrence of acts of war or terrorist
incidents or as a result of weather or natural disasters; potential liability
for remedial actions and increased costs under existing or future
environmental regulations, including those relating to climate change;
potential liability resulting from pending or future litigation, or from
changes in the laws, regulations or policies of governments or other
governmental activities in the countries in which we operate; changes in
currency exchange rates and interest rates; our level of indebtedness, which
could diminish our ability to raise additional capital to fund operations or
limit our ability to react to changes in the economy or the chemicals
industry; and various other factors discussed from time to time 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 the following performance measures: operating EBITDA,
business operating EBITDA, affiliate EBITDA and proportional affiliate EBITDA,
adjusted earnings per share and net debt as non-U.S. GAAP measures. These
measurements are not recognized in accordance with U.S. GAAP and should not be
viewed as an alternative to U.S. GAAP measures of performance. The most
directly comparable financial measure presented in accordance with U.S. GAAP
in our consolidated financial statements for operating EBITDA and business
operating EBITDA is net income; for proportional affiliate EBITDA is equity in
net earnings of affiliates; for affiliate 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 is defined by the company as net earnings less interest
    income plus loss (earnings)from discontinued operations, interest
    expense, taxes, and depreciation and amortization, and further adjusted
    for Other Charges and Adjustments as described in Table 7. We present
    operating EBITDA because we consider it an important supplemental measure
    of our operations and financial performance. We believe that operating
    EBITDA is more reflective of our operations as it provides transparency to
    investors and enhances period-to-period comparability of our operations
    and financial performance. Operating EBITDA is one of the measures
    management uses for its planning and budgeting process to monitor and
    evaluate financial and operating results and for the company's incentive
    compensation plan. Operating EBITDA should not be considered as an
    alternative to net income determined in accordance with U.S. GAAP. We may
    provide guidance on operating EBITDA and are unable to reconcile
    forecasted operating EBITDA to a U.S. GAAP financial measure because a
    forecast of Other Charges and Adjustments is not practical.
  *Business operating EBITDA is defined by the company as net earnings less
    interest income plus loss (earnings)from discontinued operations,
    interest expense, taxes and depreciation and amortization, and further
    adjusted for Other Charges and Adjustments as described in Table 7, less
    equity in net earnings of affiliates, dividend income from cost
    investments and other (income)expense. This supplemental performance
    measure reflects the operating results of the company's operations without
    regard to the financial impact of its equity and cost investments.
  *Affiliate EBITDA is defined by the company as operating profit plus the
    depreciation and amortization of its equity affiliates. Proportional
    affiliate EBITDA, a measure used by management to measure performance of
    its equity investments, is defined by the company as the proportional
    operating profit plus the proportional depreciation and amortization of
    its 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 proportional affiliate EBITDA as an additional
    measure of operating results.
  *Adjusted earnings per share is a measure used by management to measure
    performance. It is defined by the company 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
    may provide guidance on an adjusted earnings per share basis and are
    unable to reconcile forecasted adjusted earnings per share to a U.S. GAAP
    financial measure without unreasonable effort 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. Note: The income tax rate used for adjusted earnings per
    share approximates the midpoint in a range of forecasted tax rates for the
    year. This range may include certain partial or full-year forecasted tax
    opportunities, where applicable, and specifically excludes changes in
    uncertain tax positions, discrete items and other material items adjusted
    out of our U.S. GAAP earnings for adjusted earnings per share purposes,
    and changes in management's assessments regarding the ability to realize
    deferred tax assets. We analyze this rate quarterly and adjust if there is
    a material change in the range of forecasted tax rates; an updated
    forecast would not necessarily result in a change to our tax rate used for
    adjusted earnings per share. The adjusted tax rate is an estimate and may
    differ 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 given future
    period.
  *Net debt is defined by the company 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. Proportional net debt is defined as our
    proportionate share of our affiliates' net debt.

Results Unaudited

The results presented in this release, together with the adjustments made to
present the results on a comparable basis, have not been audited and are based
on internal financial data furnished to management. Quarterly results should
not be taken as an indication of the results of operations to be reported for
any subsequent period or for the full fiscal year.

                                                        
                                                           
Consolidated Statements of Operations - Unaudited
                                                           
                                     Three Months Ended    Nine Months Ended
                                     September 30,         September 30,
(in $ millions, except share and    2012      2011       2012      2011
per share data)
Net sales                            1,609      1,807      4,917      5,149
Cost of sales                       (1,285 )   (1,406 )   (3,992 )   (3,987 )
Gross profit                         324        401        925        1,162
Selling, general and                 (121   )   (140   )   (379   )   (408   )
administrative expenses
Amortization of intangible assets    (12    )   (17    )   (38    )   (50    )
Research and development expenses    (24    )   (24    )   (76    )   (72    )
Other (charges) gains, net           2          (24    )   (1     )   (39    )
Foreign exchange gain (loss), net    (4     )   1          (4     )   1
Gain (loss) on disposition of       (2     )   (1     )   (2     )   (1     )
businesses and asset, net
Operating profit (loss)              163        196        425        593
Equity in net earnings (loss) of     50         57         163        146
affiliates
Interest expense                     (44    )   (54    )   (134   )   (166   )
Refinancing expense                  —          —          —          (3     )
Interest income                      —          1          1          2
Dividend income - cost investments   1          1          85         80
Other income (expense), net         3         —         4         9      
Earnings (loss) from continuing      173        201        544        661
operations before tax
Income tax (provision) benefit      (54    )   (34    )   (32    )   (151   )
Earnings (loss) from continuing     119       167       512       510    
operations
Earnings (loss) from operation of    (3     )   —          (3     )   3
discontinued operations
Gain (loss) on disposition of        —          —          —          —
discontinued operations
Income tax (provision) benefit,     1         —         1         (1     )
discontinued operations
Earnings (loss) from discontinued   (2     )   —         (2     )   2      
operations
Net earnings (loss)                  117        167        510        512
Net earnings (loss) attributable    —         —         —         —      
to noncontrolling interests
Net earnings (loss) attributable     117        167        510        512
to Celanese Corporation
Cumulative preferred stock          —         —         —         —      
dividends
Net earnings (loss) available to    117       167       510       512    
common shareholders
Amounts attributable to Celanese
Corporation
Earnings (loss) per common share -
basic
Continuing operations                0.75       1.07       3.24       3.27
Discontinued operations             (0.01  )   —         (0.01  )   0.01   
Net earnings (loss) - basic         0.74      1.07      3.23      3.28   
Earnings (loss) per common share -
diluted
Continuing operations                0.74       1.05       3.21       3.21
Discontinued operations             (0.01  )   —         (0.01  )   0.01   
Net earnings (loss) - diluted       0.73      1.05      3.20      3.22   
Weighted average shares (in
millions)
Basic                                159.1      156.2      157.9      156.1
Diluted                             160.1     159.0     159.6     159.0  

                                                               
                                                                  
Consolidated Balance Sheets - Unaudited
                                                                  
                                                  As of           As of
(in $ millions)                                  September 30,   December 31,
                                                  2012            2011
ASSETS
Current assets
Cash & cash equivalents                           928             682
Trade receivables - third party and affiliates,   932             871
net
Non-trade receivables, net                        188             235
Inventories                                       711             712
Deferred income taxes                             106             104
Marketable securities, at fair value              56              64
Other assets                                     47             35       
Total current assets                             2,968          2,703    
Investments in affiliates                         775             824
Property, plant and equipment, net                3,295           3,269
Deferred income taxes                             539             421
Other assets                                      446             344
Goodwill                                          768             760
Intangible assets, net                           174            197      
Total assets                                     8,965          8,518    
LIABILITIES AND EQUITY
Current liabilities
Short-term borrowings and current installments    141             144
of long-term debt - third party and affiliates
Trade payables - third party and affiliates       685             673
Other liabilities                                 507             539
Deferred income taxes                             19              17
Income taxes payable                             43             12       
Total current liabilities                        1,395          1,385    
Long-term debt                                    2,839           2,873
Deferred income taxes                             131             92
Uncertain tax positions                           189             182
Benefit obligations                               1,354           1,492
Other liabilities                                 1,142           1,153
Commitments and contingencies
Stockholders' equity
Preferred stock                                   —               —
Common stock                                      —               —
Treasury stock, at cost                           (897     )      (860     )
Additional paid-in capital                        731             627
Retained earnings                                 2,903           2,424
Accumulated other comprehensive income (loss),   (822     )      (850     )
net
Total Celanese Corporation stockholders' equity   1,915           1,341
Noncontrolling interests                         —              —        
Total equity                                     1,915          1,341    
Total liabilities and equity                     8,965          8,518    

                                                          
                                                             
Table 1

Business Segment Data and Reconciliation of Operating Profit (Loss) to
Operating EBITDA -

a Non-U.S. GAAP Measure - Unaudited
                                                             
                              Three Months Ended             Nine Months Ended
                              June 30,  September 30,       September 30,
(in $ millions)              2012       2012     2011      2012     2011
Net Sales
Advanced Engineered           323        322       332       962       1,006
Materials
Consumer Specialties          327        314       298       905       855
Industrial Specialties        327        297       332       933       951
Acetyl Intermediates          821        785       975       2,458     2,702
Other Activities ^ 1          —          —         —         —         1
Intersegment eliminations    (123   )   (109  )   (130  )   (341  )   (366  )
Total                        1,675     1,609    1,807    4,917    5,149 
Operating Profit (Loss)
Advanced Engineered           21         43        14        85        79
Materials
Consumer Specialties          75         70        66        184       168
Industrial Specialties        34         23        30        76        83
Acetyl Intermediates          77         62        128       199       392
Other Activities ^ 1         (43    )   (35   )   (42   )   (119  )   (129  )
Total                        164       163      196      425      593   
Other Charges and Other
Adjustments ^2
Advanced Engineered           10         (8    )   18        5         52
Materials
Consumer Specialties          (1     )   7         3         23        18
Industrial Specialties        —          —         —         2         —
Acetyl Intermediates          1          7         12        10        (7    )
Other Activities ^ 1         9         —        10       17       17    
Total                        19        6        43       57       80    
Depreciation and
Amortization Expense ^3
Advanced Engineered           28         29        27        84        65
Materials
Consumer Specialties          10         10        9         29        27
Industrial Specialties        13         13        12        39        34
Acetyl Intermediates          19         20        25        59        75
Other Activities ^ 1         4         3        4        10       10    
Total                        74        75       77       221      211   
Business Operating EBITDA
Advanced Engineered           59         64        59        174       196
Materials
Consumer Specialties          84         87        78        236       213
Industrial Specialties        47         36        42        117       117
Acetyl Intermediates          97         89        165       268       460
Other Activities ^ 1         (30    )   (32   )   (28   )   (92   )   (102  )
Total                        257       244      316      703      884   
Equity Earnings, Cost -
Dividend Income and Other
Income (Expense)
Advanced Engineered           55         45        53        143       127
Materials
Consumer Specialties          84         —         —         85        80
Industrial Specialties        —          —         1         —         1
Acetyl Intermediates          2          2         3         5         7
Other Activities ^ 1         4         7        1        19       20    
Total                        145       54       58       252      235   
Operating EBITDA
Advanced Engineered           114        109       112       317       323
Materials
Consumer Specialties          168        87        78        321       293
Industrial Specialties        47         36        43        117       118
Acetyl Intermediates          99         91        168       273       467
Other Activities ^ 1         (26    )   (25   )   (27   )   (73   )   (82   )
Total                        402       298      374      955      1,119 

^1 Other Activities includes corporate selling, general and administrative
expenses and the results from captive insurance companies.

^2 See Table 7 for details.

^3 Excludes accelerated depreciation and amortization expense included in
Other Charges and Other Adjustments above. See Table 1A for details.

                                                          
                                                             
Table 1A

Reconciliation of Consolidated Net Earnings (Loss) to Operating EBITDA -

a Non-U.S. GAAP Measure - Unaudited
                                                             
                                  Three Months Ended         Nine Months Ended
                                  June 30,  September 30,   September 30,
(in $ millions)                  2012       2012   2011    2012     2011
Net earnings (loss)
attributable to Celanese          210        117     167     510       512
Corporation
(Earnings) loss from              —          2       —       2         (2    )
discontinued operations
Interest income                   —          —       (1  )   (1   )    (2    )
Interest expense                  45         44      54      134       166
Refinancing expense               —          —       —       —         3
Income tax provision (benefit)    54         54      34      32        151
Depreciation and amortization     74         75      77      221       211
expense ^2
Other charges (gains), net ^1     3          (2  )   24      1         39
Other adjustments ^1             16        8      19     56       41    
Operating EBITDA                 402       298    374    955      1,119 
Detail by Business Segment
Advanced Engineered Materials     114        109     112     317       323
Consumer Specialties              168        87      78      321       293
Industrial Specialties            47         36      43      117       118
Acetyl Intermediates              99         91      168     273       467
Other Activities ^3              (26   )    (25 )   (27 )   (73  )    (82   )
Operating EBITDA                 402       298    374    955      1,119 

^1 See Table 7 for details.

^2 Excludes accelerated depreciation and amortization expense as detailed in
the table below and included in Other adjustments above.

^3 Other Activities includes corporate selling, general and administrative
expenses and the results from captive insurance companies.

                                                          
                                  Three Months Ended         Nine Months Ended
                                  June 30,  September 30,   September 30,
(in $ millions)                  2012       2012    2011   2012      2011
Advanced Engineered Materials     —          —        —      —          3
Consumer Specialties              1          3        —      4          7
Industrial Specialties            —          —        —      2          —
Acetyl Intermediates              —          —        —      —          —
Other Activities ^ 3             —          —        —      —          —
Accelerated depreciation and      1          3        —      6          10
amortization expense
Depreciation and amortization    74         75       77     221        211
expense ^2
Total depreciation and           75         78       77     227        221
amortization expense

                                                                 
                                                                        
Table 2

Factors Affecting Business Segment Net Sales - Unaudited
                                                                        
Three Months Ended September 30, 2012 Compared to Three Months Ended September
30, 2011
                                                                        
                         Volume     Price      Currency     Other     Total
                           (In percentages)
Advanced Engineered        (1   )     3          (5    )      —         (3   )
Materials
Consumer Specialties       —          6          (1    )      —         5
Industrial Specialties     2          (8   )     (5    )      —         (11  )
Acetyl Intermediates       (5   )     (11  )     (3    )      —         (19  )
Total Company             (2   )     (6   )     (4    )      1         (11  )

                                                                   
                                                                         
Nine Months Ended September 30, 2012 Compared to Nine Months Ended September
30, 2011
                                                                         
                            Volume     Price     Currency     Other    Total
                              (In percentages)
Advanced Engineered           (3   )     3         (4    )      —        (4  )
Materials
Consumer Specialties          —          7         (1    )      —        6
Industrial Specialties        4          (2  )     (4    )      —        (2  )
Acetyl Intermediates          2          (8  )     (3    )      —        (9  )
Total Company                1         (3  )     (3    )      —        (5  )

                                                   

Table 3

Cash Flow Information - Unaudited
                                                     
                                                     Nine Months Ended
                                                     September 30,
(in $ millions)                                      2012      2011
Net cash provided by operating activities            661        481
Net cash (used in) investing activities ^1           (397  )    (296 )
Net cash (used in) financing activities              (21   )    (224 )
Exchange rate effects on cash and cash equivalents   3          3
Cash and cash equivalents at beginning of period     682       740  
Cash and cash equivalents at end of period           928       704  

^12012 and 2011 include $43 million and $174 million, respectively, of
capital expenditures related to the relocation of our Kelsterbach, Germany POM
operations. 2011 includes $158 million of cash proceeds related to the
settlement with the Frankfurt, Germany Airport to move our POM operations from
Kelsterbach, Germany.

                                                        
                                                           
Table 4

Cash Dividends Received - Unaudited
                                                           
                                      Three Months Ended   Nine Months Ended
                                      September 30,        September 30,
(in $ millions)                      2012       2011     2012      2011
Dividends from equity investments     37          47       222        165
Dividends from cost investments      1           1        85         80
Total                                38          48       307        245

                                                              
                                                                  
Table 5

Net Debt - Reconciliation of a Non-U.S. GAAP Measure - Unaudited
                                                                  
                                       As of      As of           As of
(in $ millions)                       June 30,   September 30,   December 31,
                                       2012       2012            2011
Short-term borrowings and current
installments of long-term debt -       131        141             144
third party and affiliates
Long-term debt                        2,845      2,839           2,873
Total debt                             2,976      2,980           3,017
Less: Cash and cash equivalents       800        928             682
Net debt                              2,176      2,052           2,335

                                                                       
                                                                           
Table 6

Adjusted
Earnings
(Loss) Per
Share -
Reconciliation
of a Non-U.S.
GAAP Measure -
Unaudited
                                                                           
                 Three Months Ended              Nine Months Ended
                 September 30,                   September 30,
(in $
millions,
except share    2012           2011            2012            2011
and per share
data)
                        per            per             per              per
                         share           share            share            share
Earnings
(loss) from      119     0.74    167     1.05    512      3.21    510      3.21
continuing
operations
Deduct: Income
tax             (54 )         (34 )         (32  )         (151 )  
(provision)
benefit
Earnings
(loss) from
continuing       173             201             544              661
operations
before tax
Other charges
and other        6               43              57               80
adjustments ^1
Refinancing -
related         —            (1  )         —             5      
expenses
Adjusted
earnings
(loss) from      179             243             601              746
continuing
operations
before tax
Income tax
(provision)
benefit on       (30 )           (41 )           (102 )           (127 )
adjusted
earnings ^2
Less:
Noncontrolling  —            —            —             —      
interests
Adjusted
earnings
(loss) from     149   0.93    202   1.27    499    3.13    619    3.89
continuing
operations
Diluted shares
(in millions)                                                  
^3
Weighted
average shares           159.1           156.2            157.9            156.1
outstanding
Dilutive stock           0.3             1.9              1.1              2.0
options
Dilutive
restricted            0.7           0.9            0.6            0.9
stock units
Total diluted         160.1         159.0          159.6          159.0
shares

^1 See Table 7 for details.

^2 The adjusted effective tax rate is 17% and 17% for the three and nine
months ended September30, 2012 and 2011, respectively.

^3 Potentially dilutive shares are included in the adjusted earnings per share
calculation when adjusted earnings are positive.

                                                       
                                                              
Table 7

Other Charges and Other Adjustments - Reconciliation of a Non-U.S. GAAP
Measure - Unaudited
                                                              
Other Charges
(Gains), net:
                  Three Months Ended      Nine Months Ended
                  June    September 30,   September 30,
                  30,
(in $ millions)  2012    2012     2011   2012      2011
Employee
termination       1       1        5      2         18
benefits
Kelsterbach
plant             2       3        14     5         43
relocation
Plumbing          —       (4  )    (2 )   (4  )     (6   )
actions
Commercial        —       (2  )    7      (2  )     (15  )
disputes
Other            —       —       —     —        (1   )
Total            3       (2  )    24    1        39   
                                                              
Other
Adjustments: ^1
                  Three Months Ended      Nine Months Ended
                  June    September 30,   September 30,       Income Statement
                  30,
(in $ millions)  2012    2012     2011   2012      2011     Classification
Business          3       —        2      8         7         Cost of sales /
optimization                                                  SG&A
Kelsterbach
plant             8       (7  )    5      4         7         Cost of sales
relocation
Plant closures    2       10       2      16        15        Cost of sales /
                                                              SG&A
(Gain) loss on                                                (Gain) loss on
disposition of    —       1        (1 )   1         (1   )    disposition
assets
Write-off of
other             —       —        —      —         (1   )    Cost of sales
productive
assets
Commercial        —       —        7      —         7         Cost of sales
disputes
Acetate
production        —       —        —      10        —         Cost of sales
interruption
costs
Other            3       4       4     17       7        Various
Total            16      8       19    56       41   
Total other
charges and      19      6       43    57       80   
other
adjustments

^1 These items are included in net earnings but not included in other charges
(gains), net.

                                                    
                                                        
Table 8

Equity Affiliate Results and Reconciliation of Operating Profit to Affiliate
EBITDA -

a Non-U.S. GAAP Measure - Total - Unaudited
                                                        
                              Three Months Ended        Nine Months Ended
                              September 30,             September 30,
(in $ millions)              2012        2011         2012        2011
Net Sales
Affiliates - Asia ^1          431          428          1,295        1,232
Affiliates - Middle East      281          334          965          851
^2
Infraserv Affiliates ^3      457         540         1,402       1,597  
Total                        1,169       1,302       3,662       3,680  
Operating Profit
Affiliates - Asia ^1          55           56           158          151
Affiliates - Middle East      134          163          470          369
^2
Infraserv Affiliates ^3      31          33          91          100    
Total                        220         252         719         620    
Depreciation and
Amortization
Affiliates - Asia ^1          19           20           57           57
Affiliates - Middle East      9            8            32           38
^2
Infraserv Affiliates ^3      25          29          78          84     
Total                        53          57          167         179    
Affiliate EBITDA
Affiliates - Asia ^1          74           76           215          208
Affiliates - Middle East      143          171          502          407
^2
Infraserv Affiliates ^3      56          62          169         184    
Total                        273         309         886         799    
Net Income
Affiliates - Asia ^1          37           39           105          103
Affiliates - Middle East      120          145          420          328
^2
Infraserv Affiliates ^3      17          16          65          66     
Total                        174         200         590         497    
Net Debt
Affiliates - Asia ^1          378          134          378          134
Affiliates - Middle East      (94    )     (115   )     (94    )     (115   )
^2
Infraserv Affiliates ^3      287         239         287         239    
Total                        571         258         571         258    

^1 Affiliates - Asia accounted for using the equity method includes
Polyplastics (45%), Korean Engineering Plastics (50%), Fortron Industries
(50%), Una SA (2012 - 0%, 2011 - 50%). Una SA was divested during the Three
Months Ended March 31, 2011.

^2 Affiliates - Middle East accounted for using the equity method includes
National Methanol Company (Ibn Sina) (25%).

^3 Infraserv Affiliates accounted for using the equity method includes
Infraserv Hoechst (32%), Infraserv Gendorf (39%) and Infraserv Knapsack (27%).

                                                 
                                                      
Table 8 (continued)

Equity Affiliate Results and Reconciliation of Proportional Operating Profit
to Proportional Affiliate EBITDA - a Non-U.S. GAAP Measure - Celanese
Proportional Share - Unaudited
                                                      
                         Three Months Ended           Nine Months Ended
                         September 30,                September 30,
(in $ millions)         2012          2011          2012          2011
Proportional Net
Sales
Affiliates - Asia ^1     199            198           597            570
Affiliates - Middle      70             84            241            213
East ^2
Infraserv Affiliates    150           178          460           526    
^3
Total                   419           460          1,298         1,309  
Proportional
Operating Profit
Affiliates - Asia ^1     26             26            74             71
Affiliates - Middle      34             41            118            92
East ^2
Infraserv Affiliates    10            10           30            32     
^3
Total                   70            77           222           195    
Proportional
Depreciation and
Amortization
Affiliates - Asia ^1     8              9             26             26
Affiliates - Middle      2              2             8              10
East ^2
Infraserv Affiliates    8             10           25            28     
^3
Total                   18            21           59            64     
Proportional
Affiliate EBITDA
Affiliates - Asia ^1     34             35            100            97
Affiliates - Middle      36             43            126            102
East ^2
Infraserv Affiliates    18            20           55            60     
^3
Total                   88            98           281           259    
Equity in Net
Earnings of
Affiliates (as
reported in the
Consolidated
Statement of
Operations)
Affiliates - Asia ^1     18             18            50             48
Affiliates - Middle      27             34            93             77
East ^2
Infraserv Affiliates    5             5            20            21     
^3
Total                   50            57           163           146    
Proportional
Affiliate EBITDA in
Excess of Equity in
Net Earnings of
Affiliates
Affiliates - Asia ^1     16             17            50             49
Affiliates - Middle      9              9             33             25
East ^2
Infraserv Affiliates    13            15           35            39     
^3
Total                   38            41           118           113    
Proportional Net
Debt
Affiliates - Asia ^1     171            60            171            60
Affiliates - Middle      (24    )       (29   )       (24     )      (29    )
East ^2
Infraserv Affiliates    94            79           94            79     
^3
Total                   241           110          241           110    

^1 Affiliates - Asia accounted for using the equity method includes
Polyplastics (45%), Korean Engineering Plastics (50%), Fortron Industries
(50%), Una SA (2012 - 0%, 2011 - 50%). Una SA was divested during the Three
Months Ended March 31, 2011.

^2 Affiliates - Middle East accounted for using the equity method includes
National Methanol Company (Ibn Sina) (25%).

^3 Infraserv Affiliates accounted for using the equity method includes
Infraserv Hoechst (32%), Infraserv Gendorf (39%) and Infraserv Knapsack (27%).

Contact:

Celanese Corporation
Investor Relations
Jon Puckett, +1-972-443-4965
Telefax: +1-972-443-8519
Jon.Puckett@celanese.com
or
Media - U.S.
Linda Beheler, +1-972-443-4924
Telefax: +1-972-443-8519
Linda.Beheler@celanese.com
or
Media - Europe
Jens Kurth, +49(0)69 45009 1574
Telefax: +49(0) 45009 58800
J.Kurth@celanese.com