Celanese (CE) FY2018 results: revenue $7.2 billion, up 16.5% on the year
Celanese Corp. (CE) reported revenue of $7.2 billion for fiscal 2018, the year ended 31 December 2018, up 16.5% on the year before. Net income was $1.2 billion, up 43.2%, and diluted earnings per share $8.91. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$7.2 billion
+16.5% on the year
FY2011FY2018
Operating margin
18.6%
14.0% a year earlier
FY2011FY2018
Net income
$1.2 billion
+43.2% on the year
FY2011FY2018
Diluted EPS
$8.91
+46.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
7,155
6,140
5,389
+16.5%
Cost of revenue
5,183
4,625
3,984
+12.1%
Gross profit
1,972
1,511
1,405
+30.5%
Gross margin
27.6%
24.6%
26.1%
Research and development
72.0
73.0
78.0
-1.4%
Selling, general and administrative
546
496
378
+10.1%
Operating income
1,334
857
934
+55.7%
Operating margin
18.6%
14.0%
17.3%
Interest expense
125
122
120
+2.5%
Pre-tax income
1,510
1,075
1,030
+40.5%
Income tax
292
213
122
+37.1%
Effective tax rate
19.3%
19.8%
11.8%
Net income
1,207
843
900
+43.2%
Net margin
16.9%
13.7%
16.7%
Diluted EPS
$8.91
$6.09
$6.18
+46.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,558
803
893
+94.0%
Capital expenditure
337
267
246
+26.2%
Free cash flow
1,221
536
647
+127.8%
Free cash flow margin
17.1%
8.7%
12.0%
Cash from investing
-507
-549
-439
Cash from financing
-1,165
-351
-759
Depreciation and amortisation
343
305
290
+12.5%
Share-based compensation
71.0
47.0
31.0
+51.1%
Buybacks
805
500
500
+61.0%
Dividends paid
280
241
201
+16.2%
Diluted shares, weighted
135m
138m
146m
-2.1%
Shares outstanding at period end
128m
136m
n/a
-5.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,984
2,887
2,588
+3.4%
Non-controlling interest
395
412
433
-4.1%
Debt
3,549
3,661
3,029
-3.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,385
2,578
2,307
-7.5%
Total liabilities and equity
9,313
9,538
8,357
-2.4%
Fixed assets
3,719
3,762
3,577
-1.1%
Goodwill
1,057
1,003
796
+5.4%
Intangible assets
310
301
194
+3.0%
Investments
31.0
32.0
30.0
-3.1%
Cash and equivalents
439
576
638
-23.8%
Receivables
1,017
986
801
+3.1%
Inventory
1,046
900
720
+16.2%
Other assets
1,694
1,978
1,601
-14.4%
Total assets
9,313
9,538
8,357
-2.4%
10-K for the year ended 31 December 2018, filed 7 February 2019: the filing.