Celanese (CE) FY2014 results: revenue $6.8 billion, up 4.5% on the year
Celanese Corp. (CE) reported revenue of $6.8 billion for fiscal 2014, the year ended 31 December 2014, up 4.5% on the year before. Net income was $624 million, down 43.3%, and diluted earnings per share $4.00. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2015.
Revenue
$6.8 billion
+4.5% on the year
FY2007FY2014
Operating margin
11.1%
23.2% a year earlier
FY2007FY2014
Net income
$624 million
-43.3% on the year
FY2007FY2014
Diluted EPS
$4.00
-42.1% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
6,802
6,510
6,418
+4.5%
Cost of revenue
5,186
5,145
5,237
+0.8%
Gross profit
1,616
1,365
1,181
+18.4%
Gross margin
23.8%
21.0%
18.4%
Research and development
86.0
85.0
104
+1.2%
Selling, general and administrative
758
311
830
+143.7%
Operating income
758
1,508
175
-49.7%
Operating margin
11.1%
23.2%
2.7%
Interest expense
147
172
185
-14.5%
Pre-tax income
941
1,609
321
-41.5%
Income tax
314
508
-55.0
-38.2%
Effective tax rate
33.4%
31.6%
-17.1%
Net income
624
1,101
372
-43.3%
Net margin
9.2%
16.9%
5.8%
Diluted EPS
$4.00
$6.91
$2.33
-42.1%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
962
762
722
+26.2%
Capital expenditure
254
277
349
-8.3%
Free cash flow
708
485
373
+46.0%
Free cash flow margin
10.4%
7.5%
5.8%
Cash from investing
-705
-422
-500
Cash from financing
-415
-326
49.0
Depreciation and amortisation
292
305
308
-4.3%
Share-based compensation
46.0
24.0
20.0
+91.7%
Buybacks
250
164
45.0
+52.4%
Dividends paid
144
83.0
43.0
+73.5%
Diluted shares, weighted
156m
159m
160m
-2.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,818
2,699
1,730
+4.4%
Non-controlling interest
260
0.0
0.0
Debt
2,745
3,064
3,098
-10.4%
Other liabilities
2,973
3,255
4,172
-8.7%
Total liabilities and equity
8,796
9,018
9,000
-2.5%
Fixed assets
3,733
3,425
3,350
+9.0%
Goodwill
749
798
777
-6.1%
Intangible assets
132
142
165
-7.0%
Investments
32.0
41.0
53.0
-22.0%
Cash and equivalents
780
984
959
-20.7%
Receivables
801
867
827
-7.6%
Inventory
782
804
711
-2.7%
Other assets
1,787
1,957
2,158
-8.7%
Total assets
8,796
9,018
9,000
-2.5%
10-K for the year ended 31 December 2014, filed 6 February 2015: the filing.