Sector: Materials|Industry: Chemicals|Market Cap: $7.22B|Employees: 12K
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics. The Acetyl Chain segment produces and supplies acetyl products, including acetic acid, vinyl acetate monomers, acetic anhydride, and acetate esters that are used as starting materials for colorants, paints, adhesives, coatings, and pharmaceuticals; and organic solvents and intermediates for pharmaceutical, agricultural, and chemical products. It also offers vinyl acetate-based emulsions for use in paints and coatings, adhesives, construction, glass fiber, textiles, and paper applications; and ethylene vinyl acetate resins and compounds, as well as low-density polyethylene for use in flexible packaging films, lamination film products, hot melt adhesives, automotive parts, and carpeting applications. In addition, it provides redispersible powders (RDP) for use in construction applications, including flooring, plasters, insulation, tiling, and waterproofing. Celanese Corporation was founded in 1918 and is headquartered in Irving, Texas.
The 10-K filing states that net sales decreased by $660 million, or 6%, for the year ended December 31, 2024 compared to the same period in 2023. This was primarily due to lower pricing in the Acetyl Chain segment due to greater supply than demand, and in the Engineered Materials segment due to competitive market dynamics and decreased energy surcharges.
Operating profit decreased $2.4 billion, or 141%, for the year ended December 31, 2024 compared to the same period in 2023. This decrease was primarily due to a $1.7 billion unfavorable impact to Other (charges) gains, net, related to an impairment loss on goodwill, and lower net sales across the segments.
SG&A expenses as a percentage of Net sales increased from 9.8% to 10.0%.