Cost Reduction Actions
Celanese outlined additional cost reduction actions totaling about $40 million, with the full run rate of original $80 million and another $20 million, contributing to a total of $60 million in savings.
Tailwinds in Second Half
Several tailwinds are expected in the second half, including $30 million from reduced turnarounds, a $50 million benefit from tow dividends and tow volume, and approximately $100 million just from these elements.
Free Cash Flow Target
Celanese targets $700 million to $800 million in free cash flow for 2025, with working capital expected to be a source of cash, reduced CapEx, and lower cash taxes contributing to this goal.
Improvement in Automotive Sector
Automotive volumes were down 5% against a global industry down 10%, indicating Celanese outperformed the market largely due to stronger performance in the U.S. and Europe.