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We focus mainly on basic and high value chemicals, acetate products, technical
polymers and food ingredients. Our customers include global manufacturers of
industrial and consumer products. Most of our key products hold No. 1 or No.
2 global market positions. Our strengths include our global market presence,
comprehensive know-how in process and production technology, application
development expertise and a competitive cost structure. Our company consists
of five segments:
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Acetyl Products is our largest segment, with 43 % of total segment sales. It uses proprietary
technology to process natural gas and ethylene into a variety of basic and high value chemicals
for almost all manufacturing industries.
The acquisition of the European emulsions business will extend the Acetyls chain and capture
attractive markets. We are strengthening our market leadership position with measures
to increase productivity.
EBITDA in Acetyl Products increased by 21 %, largely due to lower raw material and energy prices as well as
increases in productivity. The operating result increased to € 145 million, following an operating
loss in the prior year. Sales decreased by 11 % due to lower selling prices.
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The product range of this segment, which makes up 19 % of our total segment sales, consists of acrylic
acid and acrylates, oxo products and specialties. Our most important customers are to be found in
the paint and coatings, agrochemicals and textile industries.
To improve the earnings situation of the Chemicals Intermediates segment, we are concentrating on
increasing efficiency; we have also signed a joint venture agreement for our European oxo business,
which is now awaiting regulatory approval.
Largely due to a decline in prices, sales in the Chemical Intermediates segment decreased by 11 % and EBITDA
by 27 %. Lower special charges as well as cost reduction measures limited the operating loss to €
29 million, compared to a loss of € 374 million the prior year.
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Celanese is one of the world´s largest producers of cellulose acetate filament and tow.
The segment makes up 16 % of Celanese´s total segment sales. Acetate products are primarily
used in cigarette filters as well as in fashion apparel and linings.
In the Acetate Products segment, we are building on our market position by expanding existing
partnerships in growth regions, maintaining cost leadership and continuing to consolidate
acetate filament production.
Acetate Products recorded an operating profit of € 24 million compared to an operating loss
of € 32 million the prior year, largely due to cost reduction and the absence of special
charges. Sales and EBITDA decreased by 12 % and 11 % respectively, due to declining volumes.
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With Ticona’s technical polymers (18 %), we are well positioned at the upper end of
the value chain. Ticona offers tailored solutions for industrial customers, especially
in the electronics, telecommunications, automotive and medical sectors.
Ticona is pursuing new applications, expanding capacities and entering into partnerships in
order to expand its market presence in Asia. Measures to increase productivity and reduce
costs continue to be implemented.
Ticona improved its EBITDA by 67 % to € 87 million, as a result of lower raw material
and energy costs and higher volumes. Sales decreased slightly, by 2 %. The segment recorded
an operating profit of € 22 million, compared to an operating loss of €
15 million in 2001.
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Our food ingredients business Nutrinova makes up 4 % of total segment sales. Nutrinova produces the
high intensity sweetener Sunett®, Sorbates, and health-promoting food ingredients.
Nutrinova continues to strengthen its business with volume growth for Sunett® and implementing
measures to increase productivity in its preservatives business. In addition, Nutrinova is
setting up a new product line of health-promoting food ingredients.
Performance Products improved its operating profit by 9 % to € 48 million and its
EBITDA to € 55 million, due to increased volume as well as process improvements
and cost reductions. Sales only increased by 1 % to € 161 million.
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