The following is a summary of the Celanese Corporation (CE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Celanese Corporation observed a fall in demand across all sectors with an especially weak growth in the budget performance.

• The significant volume growth was observed in Q1, despite stable raw material prices.

• The company anticipates a rise in demand during the latter half of the year.

• The business generated a 28% EBITDA margin in Q1, even amidst market disruptions and increased turnaround-related expenses.

• The company managed to reduce its debt by over one and a half million, resulting in lesser debt service costs.

Business Progress:

• A strong start to the year saw stable maintenance of the order book.

• A commercial model was established in EM last year, with value expected to be seen at the end of 2024.

• Significant advancements include New VAE in China and RDP debottlenecking, and the production of sustainable products from the CCU project in Clear Lake is getting positive customer feedback.

• The company has managed to generate more revenue opportunities and integrate business over the past 18 months.

• The expected earning drivers for 2024 include M&M synergies, anticipated to bring a $150 million EBITDA tailwind, and the Clear Lake expansion predicted to provide $100 million.

• The Acetyl chain business showed resilience in the first quarter, despite pricing fluctuations, as new capacity introduced recently has begun to influence the market.

• The company anticipates lower costs in 2024, resulting from inventory management strategies executed in the previous year.

More details: Celanese Corp IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.