Celanese Corp

celanese.com

What Do They Do?

Produces engineered polymers and intermediate chemicals for manufacturers in automotive, medical, industrial and consumer markets.

How Do They Make Money?

Celanese sells products directly and through distributors, generally billing as products are delivered; a smaller set of take-or-pay contracts spans multiple years.

revenue

Segment	Share	Revenue	How money arrives
Engineered Materials Sold outright	56% FY2022: 42%		Sold outright
Acetyl Chain Sold outright	44% FY2022: 58%		Sold outright

Who Are Their Customers?

Automotive manufacturers and their suppliers, along with medical, industrial and consumer companies, buy customized polymer materials; Celanese sells directly and through distributors.

Do Revenues Turn Into Profits?

Not on paper. It lost $1.2B in FY2025, but brought in more cash than it spent: $803M of free cash flow.

Operating income, FY2025

−8% of revenue

▲ +9% (Loss) vs FY2024 (−$720M, −7%)

Net income, FY2025

−12% of revenue

▼ −24% (Loss) vs FY2024 (−$1.5B, −15%)

Free cash flow, FY2025

8% of revenue

▲ +51% vs FY2024 ($531M, 5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +9%; vs $2.5B in Q2 FY2025
Net income: ▼ −37%; vs $197M in Q2 FY2025

Engineered Materials share of revenue vs 57.0% in Q2 FY2025

Growing. Revenue grew 12% in 4 years, from $8.5B in FY2021 to $9.5B in FY2025, about 3% a year.

Revenue over time

Engineered Materials Acetyl Chain

$20B$10B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Anhui Jinhe Industrial, Ascend Performance Materials, BASF, Daicel, DOMO Chemicals, E. I. du Pont de Nemours, Kingfa Science and Technology, Koninklijke DSM, Korea Petrochemical Ind., SABIC Innovative Plastics, Solvay, Asahi Kasei, Braskem, Lanxess, Mitsubishi Gas Chemical, Sumitomo, Teijin, and Toray Industries

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