Celanese (CE) FY2013 results: revenue $6.5 billion, up 1.4% on the year
Celanese Corp. (CE) reported revenue of $6.5 billion for fiscal 2013, the year ended 31 December 2013, up 1.4% on the year before. Net income was $1.1 billion, up 196.0%, and diluted earnings per share $6.91. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2014.
Revenue
$6.5 billion
+1.4% on the year
FY2007FY2013
Operating margin
23.2%
2.7% a year earlier
FY2007FY2013
Net income
$1.1 billion
+196.0% on the year
FY2007FY2013
Diluted EPS
$6.91
+196.6% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
6,510
6,418
6,763
+1.4%
Cost of revenue
5,145
5,237
5,346
-1.8%
Gross profit
1,365
1,181
1,417
+15.6%
Gross margin
21.0%
18.4%
21.0%
Research and development
85.0
104
98.0
-18.3%
Selling, general and administrative
311
830
805
-62.5%
Operating income
1,508
175
402
+761.7%
Operating margin
23.2%
2.7%
5.9%
Interest expense
172
185
221
-7.0%
Pre-tax income
1,609
321
467
+401.2%
Income tax
508
-55.0
41.0
Effective tax rate
31.6%
-17.1%
8.8%
Net income
1,101
372
427
+196.0%
Net margin
16.9%
5.8%
6.3%
Diluted EPS
$6.91
$2.33
$2.69
+196.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
762
722
638
+5.5%
Capital expenditure
277
349
349
-20.6%
Free cash flow
485
373
289
+30.0%
Free cash flow margin
7.5%
5.8%
4.3%
Cash from investing
-422
-500
-441
Cash from financing
-326
49.0
-253
Depreciation and amortisation
305
308
298
-1.0%
Share-based compensation
24.0
20.0
n/a
+20.0%
Buybacks
164
45.0
31.0
+264.4%
Dividends paid
83.0
43.0
34.0
+93.0%
Diluted shares, weighted
159m
160m
159m
-0.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,699
1,730
1,341
+56.0%
Non-controlling interest
0.0
0.0
0.0
Debt
3,064
3,098
3,017
-1.1%
Other liabilities
3,255
4,172
4,160
-22.0%
Total liabilities and equity
9,018
9,000
8,518
+0.2%
Fixed assets
3,425
3,350
3,269
+2.2%
Goodwill
798
777
760
+2.7%
Intangible assets
142
165
197
-13.9%
Investments
41.0
53.0
64.0
-22.6%
Cash and equivalents
984
959
682
+2.6%
Receivables
867
827
871
+4.8%
Inventory
804
711
712
+13.1%
Other assets
1,957
2,158
1,963
-9.3%
Total assets
9,018
9,000
8,518
+0.2%
10-K for the year ended 31 December 2013, filed 7 February 2014: the filing.