CE Latest Report

Performance Review

Celanese (stock code: CE) reported an operating revenue of US$2.37 billion as of December 31, 2024, a 7.5% YoY decrease from US$2.569 billion as of December 31, 2023. This change reflects a certain decline in the company's operating revenue, which may affect its overall profitability.

Key Data in the Financial Report

1. The decrease in Celanese's operating revenue is mainly due to a 15% decrease in the sales of acetylated products, despite a 2% increase in sales volume, resulting in a negative impact of about US$1 billion due to a 17% decrease in prices.

2. The overall chemical industry faces weak market demand, and the chemical price index fluctuates weakly, affecting revenue performance.

3. The operating revenues of competitors generally decreased, indicating a poor overall industry environment, and Celanese's revenue decline needs to be compared with peers.

Peer Comparison

1. Industry-wide analysis: The overall chemical industry is affected by multiple factors such as the slowdown in the global economy and fluctuations in raw material costs, and operating revenues generally show a downward trend. The overall market demand for chemicals in 2024 is weak, and the recovery momentum of traditional demand is insufficient, which drags down overall operating revenues.

2. Peer evaluation analysis: Celanese's operating revenue decline of 7.5% is compared with competitors such as BASF (down 1%), Sinopec (down 6%), and The Dow Chemical Company (down 6%), showing that the company's performance in the industry is at a medium level, and its market strategy and competitiveness need to be further evaluated.

Summary

Celanese's operating revenue decline in 2024 is mainly affected by weak market demand and intensified competition, and the rise in raw material costs and price wars also put pressure on revenue. Although the company has launched new products, it has failed to effectively offset the overall decline in performance.

Opportunities

1. As market demand gradually recovers, if the company can effectively adjust its product mix, it may improve revenue performance.

2. Celanese's newly launched high-performance elastic fabric fiber NEOLAST™ has the potential to attract new customers, and if the market response is good, it may bring growth in the future.

3. Focusing on research and innovation, especially in environmental protection and recyclable materials, may open up new market opportunities for the company.

Risks

1. Continued weak market demand may lead to further revenue declines, affecting the company's profitability.

2. Intensified competition within the industry may force the company to lower prices, further compressing profit margins.

3. If new products fail to generate sales growth as expected, it may negatively affect the company's overall performance.