029 Group SE

Earnings Release • Feb 22, 2001

News Details

Ad-hoc | 22 February 2001 08:35

Ad hoc-Service: Celanese AG english

Ad-hoc announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Operating profit totals Euro 83 million, net earnings amount to Euro 58 million in 2000 Celanese sales climb 21% to Euro 5.2 billion EBITDA excluding special charges increases 33 percent to Euro 500 million Difficult first half 2001 anticipated; full year EPS targeted to be higher than 2000 Celanese AG today reported that it returned to profitability in 2000 with net earnings of Euro 58 million compared with a loss of Euro million in 1999. Earnings per share rose to Euro 1.09 compared to a net loss per share of Euro 3.70 in the prior year. Net sales climbed 21 percent to Euro 5.2 billion, mainly because of higher selling prices and currency effects. Operating profit totaled Euro 83 million in 2000 compared with a loss of Euro 521 million in 1999. The improvement was mainly due to significantly lower special charges, higher pricing, cost reductions and the efficiency gains resulting from 1999 and 2000 restructuring measures. Operating results were constrained by sharply higher hydrocarbon and energy costs, and interruptions at two major plants. Interest and other income, net increased from Euro 33 to Euro112 million driven by higher dividends from affiliates, interest income and currency gains. Net earnings from continuing operations amounted to Euro 55 million, up from a loss of Euro 502 million. In 2000, special charges, net of tax, reduced net earnings by Euro 18 million (1999 Euro 347 million). In 2000, net earnings before interest, taxes, depreciation and amortization (EBITDA) excluding special charges increased 33 percent to Euro 500 million. The EBITDA to sales margin reached 10 percent compared to 9 percent in 1999. The increase in EBITDA reflected successful price increases mainly in our chemical segments, cost reductions and strong demand for Ticona technical polymers. Subject to Supervisory Board approval, the Board of Management will propose to shareholders at the Annual General Meeting on May 9 the payment of a dividend of Euro 0.40 per share for 2000. end of Ad hoc-announcement, (c) DGAP 22.02.2001 ———————————————————————– WKN: 575300; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart; NYSE 220835 Feb 01