Home / Knowledge / News / Textiles / Celanese raises outlook for 2008
Celanese raises outlook for 2008
23
Apr '08
Celanese Corporation reported record net sales of $1,846 million, a 19 percent increase from the prior year period, primarily due to higher pricing on continued strong demand in its acetyl intermediates and downstream businesses, favorable currency impacts associated with the company's global presence, and increased volumes related to growth in Asia.

Operating profit rose to $234 million from $206 million, as the increased sales more than offset higher raw material and energy costs and spending primarily associated with the company's expansion in China.

Net earnings were $145 million compared with $201 million in the prior year period. The prior year's net earnings included $79 million of earnings from discontinued operations related to the company's divestiture of its oxo alcohol business and the closure of its Edmonton methanol facility during 2007.

Adjusted earnings per share for the first quarter were a record $1.06 compared with $0.77 in the same period last year.

The results excluded $22 million of pre-tax expenses primarily associated with the company's ongoing restructuring efforts.

The current period's results also included a $0.04 per share net benefit related to the company's share repurchases executed in the last year.

Operating EBITDA was $381 million versus $315 million in the prior year period, also record performance for the company.

Our first quarter performance illustrates the strength of our integrated business model, our solid operating fundamentals, and our clear focus on growth and value creation,” said David Weidman, chairman and chief executive officer.

“Despite ongoing sluggish demand in certain North American consumer segments and high raw material and energy costs across our businesses, Celanese delivered record results.”

Click here to view more:

Celanese Corporation


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Indian investors interested in denim production in Vietnam

Textiles | On 16th Aug 2018

Indian investors interested in denim production in Vietnam

Indian fabric firms are shifting attention from China to Vietnam,...

India's textiles, apparel exports fall by ₹8000 cr: Govt

Apparel/Garments | On 16th Aug 2018

India's textiles, apparel exports fall by ₹8000 cr: Govt

India’s textiles and apparel exports dropped by nearly ₹8,000 crore...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search