Celanese (CE) FY2019 results: revenue $6.3 billion, down 12.0% on the year
Celanese Corp. (CE) reported revenue of $6.3 billion for fiscal 2019, the year ended 31 December 2019, down 12.0% on the year before. Net income was $852 million, down 29.4%, and diluted earnings per share $6.84. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2020.
Revenue
$6.3 billion
-12.0% on the year
FY2012FY2019
Operating margin
13.2%
18.6% a year earlier
FY2012FY2019
Net income
$852 million
-29.4% on the year
FY2012FY2019
Diluted EPS
$6.84
-23.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,297
7,155
6,140
-12.0%
Cost of revenue
4,691
5,183
4,625
-9.5%
Gross profit
1,606
1,972
1,511
-18.6%
Gross margin
25.5%
27.6%
24.6%
Research and development
67.0
72.0
73.0
-6.9%
Selling, general and administrative
483
546
496
-11.5%
Operating income
834
1,334
857
-37.5%
Operating margin
13.2%
18.6%
14.0%
Interest expense
115
125
122
-8.0%
Pre-tax income
988
1,510
1,075
-34.6%
Income tax
124
292
213
-57.5%
Effective tax rate
12.6%
19.3%
19.8%
Net income
852
1,207
843
-29.4%
Net margin
13.5%
16.9%
13.7%
Diluted EPS
$6.84
$8.91
$6.09
-23.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,454
1,558
803
-6.7%
Capital expenditure
370
337
267
+9.8%
Free cash flow
1,084
1,221
536
-11.2%
Free cash flow margin
17.2%
17.1%
8.7%
Cash from investing
-493
-507
-549
Cash from financing
-935
-1,165
-351
Depreciation and amortisation
352
343
305
+2.6%
Share-based compensation
48.0
71.0
47.0
-32.4%
Buybacks
996
805
500
+23.7%
Dividends paid
300
280
241
+7.1%
Diluted shares, weighted
125m
135m
138m
-7.9%
Shares outstanding at period end
120m
128m
136m
-6.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,507
2,984
2,887
-16.0%
Non-controlling interest
391
395
412
-1.0%
Debt
3,923
3,549
3,661
+10.5%
Operating lease liabilities
181
0.0
n/a
Finance lease liabilities
118
n/a
n/a
Other liabilities
2,356
2,385
2,578
-1.2%
Total liabilities and equity
9,476
9,313
9,538
+1.8%
Fixed assets
3,713
3,719
3,762
-0.2%
Goodwill
1,074
1,057
1,003
+1.6%
Intangible assets
312
310
301
+0.6%
Investments
40.0
31.0
32.0
+29.0%
Cash and equivalents
463
439
576
+5.5%
Receivables
850
1,017
986
-16.4%
Inventory
1,038
1,046
900
-0.8%
Other assets
1,986
1,694
1,978
+17.2%
Total assets
9,476
9,313
9,538
+1.8%
10-K for the year ended 31 December 2019, filed 6 February 2020: the filing.