029 Group SE

Earnings Release • Apr 29, 2002

News Details

Ad-hoc | 29 April 2002 08:29

Celanese AG english

1st quarter earnings improved significantly vs. 4th quarter 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– 1st quarter earnings improved significantly vs. 4th quarter 2001 Better than expected market conditions combined with cost reductions contributed to higher than expected results. EBITDA excluding special charges increased by 74 percent compared with the fourth quarter of 2001, and decreased 14 percent over that of the comparable quarter last year, to EUR 115 million. Net sales rose 4 percent compared with the fourth quarter of 2001, and decreased 11 percent from a year earlier to EUR 1.2 billion. This decline reflected lower selling prices which were partially offset by favorable currency movements and higher volumes. Earnings from continuing operations for the first quarter of 2002 were unchanged from a year earlier at EUR 26 million, or EUR 0.52 per share. Adjusting for the adoption of SFAS No. 142 as of January 1, 2002, earnings per share from continuing operations excluding special charges and adjusted for intangible amortization were EUR 0.92 for the comparable period of 2001. Following the solid start to the year, Celanese now expects first half 2002 EBITDA excluding special charges to be stronger than in the second half of last year and the company’s previous guidance. Assuming reduced volatility in hydrocarbon costs and further gradual firming in end-use demand for most of its products, Celanese expects 2002 EBITDA excluding special charges to approximate last year’s level of EUR 420 million. end of ad-hoc-announcement (c)DGAP 29.04.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The report on the 1st Quarter 2002 will be published on Monday, April 29, 2002. More information is available in the internet under http://www.celanese.com Contact: Media Relations Phillip Elliott, Tel. +49 (0)69 305-33480 Ursula Tober, Tel. +49 (0)69 305-3737 Investor Relations Michael Oberste-Wilms, Tel. +49 (0)69 305-83199 Andrea Stine (USA), Tel. +1 908 522 7784 ——————————————————————————– WKN: 575300; ISIN: DE0005753008; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart; NYSE 290829 Apr 02