Celanese (CE) FY2020 results: revenue $5.7 billion, down 10.2% on the year
Celanese Corp. (CE) reported revenue of $5.7 billion for fiscal 2020, the year ended 31 December 2020, down 10.2% on the year before. Net income was $2.0 billion, up 133.0%, and diluted earnings per share $16.75. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$5.7 billion
-10.2% on the year
FY2013FY2020
Operating margin
11.7%
13.2% a year earlier
FY2013FY2020
Net income
$2.0 billion
+133.0% on the year
FY2013FY2020
Diluted EPS
$16.75
+144.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,655
6,297
7,155
-10.2%
Cost of revenue
4,362
4,691
5,183
-7.0%
Gross profit
1,293
1,606
1,972
-19.5%
Gross margin
22.9%
25.5%
27.6%
Research and development
74.0
67.0
72.0
+10.4%
Selling, general and administrative
482
483
546
-0.2%
Operating income
664
834
1,334
-20.4%
Operating margin
11.7%
13.2%
18.6%
Interest expense
109
115
125
-5.2%
Pre-tax income
2,251
988
1,510
+127.8%
Income tax
247
124
292
+99.2%
Effective tax rate
11.0%
12.6%
19.3%
Net income
1,985
852
1,207
+133.0%
Net margin
35.1%
13.5%
16.9%
Diluted EPS
$16.75
$6.84
$8.91
+144.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,343
1,454
1,558
-7.6%
Capital expenditure
364
370
337
-1.6%
Free cash flow
979
1,084
1,221
-9.7%
Free cash flow margin
17.3%
17.2%
17.1%
Cash from investing
592
-493
-507
Cash from financing
-1,471
-935
-1,165
Depreciation and amortisation
350
352
343
-0.6%
Share-based compensation
28.0
48.0
71.0
-41.7%
Buybacks
650
996
805
-34.7%
Dividends paid
293
300
280
-2.3%
Diluted shares, weighted
118m
125m
135m
-5.0%
Shares outstanding at period end
114m
120m
128m
-4.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,526
2,507
2,984
+40.6%
Non-controlling interest
369
391
395
-5.6%
Debt
3,736
3,923
3,549
-4.8%
Operating lease liabilities
208
181
0.0
+14.9%
Finance lease liabilities
171
118
n/a
+44.9%
Other liabilities
2,899
2,356
2,385
+23.0%
Total liabilities and equity
10,909
9,476
9,313
+15.1%
Fixed assets
3,939
3,713
3,719
+6.1%
Goodwill
1,166
1,074
1,057
+8.6%
Intangible assets
319
312
310
+2.2%
Investments
533
40.0
31.0
+1,232.5%
Cash and equivalents
955
463
439
+106.3%
Receivables
792
850
1,017
-6.8%
Inventory
978
1,038
1,046
-5.8%
Other assets
2,227
1,986
1,694
+12.1%
Total assets
10,909
9,476
9,313
+15.1%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.