https://www.avient.com/sites/default/files/2024-09/Complet OnForce LFT Overview _ Brand Brochure.pdf
We
combine these technologies with an array of functional
additives to make your products perform better.
Avient makes no warranties or
guarantees respecting suitability of either Avient’s products or the information for your process or end-use application.
You have the responsibility to conduct full-scale end-product performance testing
to determine suitability in your application, and you assume all risk and liability arising from your use of the information and/or use or handling of any product.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Morgan%2520Stanley%2520Global%2520Chemicals%2520and%2520Agriculture%2520Conference%2520-%252011%253A15%253A2016.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
Our ability to realize anticipated savings and operational benefits from the realignment of assets, including the closure of manufacturing facilities;
The timing of closings and shifts of production to new facilities related to asset realignments and any unforeseen loss of customers and/or disruptions of
service or quality caused by such closings and/or production shifts;
Separation and severance amounts that differ from original estimates;
Amounts for non-cash charges related to asset write-offs and accelerated depreciation realignments of property, plant and equipment, that differ from
original estimates;
Our ability to identify and evaluate acquisition targets and consummate acquisitions;
The ability to successfully integrate acquired companies into our operations, retain the management teams of acquired companies, retain relationships
with customers of acquired companies, and achieve the expected results of such acquisitions, including whether such businesses will be accretive to our
earnings;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks;
Changes in polymer consumption growth rates and laws and regulations regarding the disposal of plastic in jurisdictions where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply; production outages or material costs associated with scheduled
or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions and employee productivity goals;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.mullerquaker.com/products/greek100/greek100-peach-and-passion-fruit&ei=-acYVZq7EIqwyASDjYL4CA&bvm=bv.89381419,d.cWc&psig=AFQjCNGNCQY1_dCN2RPLzxtap_Pu0omTXQ&ust=1427765484498432
POLYONE CORPORATION 25
2015 Revenue: $0.7 Billion
At a Glance: Performance Products & Solutions
2015 Revenue by Industry Expanding Profits
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3% 7.2% 7.7%
8.3%
12-14%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
11.6%
B & C
31%
Transportation
19%
W & C
16%
Industrial
13% Appliances
7%
Consumer
5%
Packaging
5%
E & E
3%
Healthcare
1%
United
States
79%
Canada
14%
Latin
America
5%
Asia
2%
Key Applications
POLYONE CORPORATION 26
2015 Revenue: $1.0 Billion
At a Glance: Distribution
Key Suppliers
ROIC Expanding Profits
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4%
5.9% 6.1%
6.6%
6.5-7.5%
6.6%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
15%
53%
2006 3Q 2016
Transportation
24%
Healthcare
23%
Industrial
16%
Consumer
13%
E & E
6%
Appliances
6%
W & C
4%
Packaging
4%
B & C
4%
http://www.avient.com/Pages/VariationRoot.aspx
27 POLYONE CORPORATION
Application Examples
POLYONE CORPORATION 28
Luxury Packaging
with Gravitech Density Modified Polymers
Impart weight, sound and
metallic finish to caps and
closures for cosmetics and
spirits applications
Elevate quality and prestige
perceptions among high-end
consumers
Eliminate time and cost
associated with secondary
operations and assembly
POLYONE CORPORATION 29
Medical Device Housings
with Chemically Resistant Engineered Polymers
Durable, long-lasting
products stand up to the
most aggressive disinfectants
Minimize environmental
stress cracking and
discoloration
One of the broadest
medically approved polymer
and colorant portfolios
POLYONE CORPORATION 30
Printed Circuit Boards
with Thermally Conductive Polymers
Replaces metal by etching
circuit designs into thermally
conductive plastic
Maintains heat transfer and
cooling capabilities of metals
Reduces both weight and cost
Increases the lifetime and
reliability of electronic systems
POLYONE CORPORATION 31
Color & Design Services
Greater control of color development
and supply chain
Work across entire design process
from concept to commercialization
Inspire creativity in the use of
polymer materials, colors
and effects
Innovative brand differentiation
Faster development timelines
POLYONE CORPORATION 32
Outdoor Applications
Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
POLYONE CORPORATION 33
Fiber Colorants
Solutions for clothing, apparel, footwear, automotive & sporting goods
ColorMatrix Fiber Colorant Solutions
Proprietary advanced liquid color
formulations and equipment enable
greater efficiency and productivity
Eliminates aqueous dyeing and its
associated wastewater treatment
Solid Color Concentrates
Extrusion-spun fibers colored via
solid masterbatch
POLYONE CORPORATION 34
Improve performance and reduce
cost through light-weighting,
reduced waste, faster cycle times
and extended shelf life
Aligned with megatrend of facing
climate and resource challenges:
Sustainability benefits include
lower package weight and
improved recyclability of
package at end of use
Shelf-life
extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat
resistance
Preservative Technology
POLYONE CORPORATION 35
Metal Replacement Solutions
Replaces metal in LED lighting
Extends LED durability and life
span eliminating hot spots
Greater design flexibility with
fewer parts
Weight reduction
Simplifies manufacturing and
lowers total production cost
POLYONE CORPORATION 36
High-Barrier Packaging Containers
Capability to extrude up to 13
layers
Strong oxygen and moisture vapor
transmission protection
Can be made symmetrical or
asymmetrical to meet customized
needs of broad variety of
applications
Barrier protection and superior
sensory properties
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented in accordance with U.S.
Segment Highlights
At a Glance: Color, Additives & Inks
At a Glance: Specialty Engineered Materials
At a Glance: Designed Structures & Solutions
At a Glance: Performance Products & Solutions
At a Glance: Distribution
Application Examples
Luxury Packaging�with Gravitech Density Modified Polymers
Medical Device Housings�with Chemically Resistant Engineered Polymers
Printed Circuit Boards�with Thermally Conductive Polymers
Color & Design Services
Outdoor Applications
Fiber Colorants�Solutions for clothing, apparel, footwear, automotive & sporting goods
Slide Number 34
Metal Replacement Solutions
High-Barrier Packaging Containers
Investor Presentation - November 2016 r4 (2).pdf
Investor Presentation - November 2016
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520RW%2520Baird%2520Global%2520Industrial%2520Conference%2520-%252011%253A8%253A2016.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
Our ability to realize anticipated savings and operational benefits from the realignment of assets, including the closure of manufacturing facilities;
The timing of closings and shifts of production to new facilities related to asset realignments and any unforeseen loss of customers and/or disruptions of
service or quality caused by such closings and/or production shifts;
Separation and severance amounts that differ from original estimates;
Amounts for non-cash charges related to asset write-offs and accelerated depreciation realignments of property, plant and equipment, that differ from
original estimates;
Our ability to identify and evaluate acquisition targets and consummate acquisitions;
The ability to successfully integrate acquired companies into our operations, retain the management teams of acquired companies, retain relationships
with customers of acquired companies, and achieve the expected results of such acquisitions, including whether such businesses will be accretive to our
earnings;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks;
Changes in polymer consumption growth rates and laws and regulations regarding the disposal of plastic in jurisdictions where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply; production outages or material costs associated with scheduled
or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions and employee productivity goals;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.mullerquaker.com/products/greek100/greek100-peach-and-passion-fruit&ei=-acYVZq7EIqwyASDjYL4CA&bvm=bv.89381419,d.cWc&psig=AFQjCNGNCQY1_dCN2RPLzxtap_Pu0omTXQ&ust=1427765484498432
POLYONE CORPORATION 25
2015 Revenue: $0.7 Billion
At a Glance: Performance Products & Solutions
2015 Revenue by Industry Expanding Profits
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3% 7.2% 7.7%
8.3%
12-14%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
11.6%
B & C
31%
Transportation
19%
W & C
16%
Industrial
13% Appliances
7%
Consumer
5%
Packaging
5%
E & E
3%
Healthcare
1%
United
States
79%
Canada
14%
Latin
America
5%
Asia
2%
Key Applications
POLYONE CORPORATION 26
2015 Revenue: $1.0 Billion
At a Glance: Distribution
Key Suppliers
ROIC Expanding Profits
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4%
5.9% 6.1%
6.6%
6.5-7.5%
6.6%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
15%
53%
2006 3Q 2016
Transportation
24%
Healthcare
23%
Industrial
16%
Consumer
13%
E & E
6%
Appliances
6%
W & C
4%
Packaging
4%
B & C
4%
http://www.avient.com/Pages/VariationRoot.aspx
27 POLYONE CORPORATION
Application Examples
POLYONE CORPORATION 28
Luxury Packaging
with Gravitech Density Modified Polymers
Impart weight, sound and
metallic finish to caps and
closures for cosmetics and
spirits applications
Elevate quality and prestige
perceptions among high-end
consumers
Eliminate time and cost
associated with secondary
operations and assembly
POLYONE CORPORATION 29
Medical Device Housings
with Chemically Resistant Engineered Polymers
Durable, long-lasting
products stand up to the
most aggressive disinfectants
Minimize environmental
stress cracking and
discoloration
One of the broadest
medically approved polymer
and colorant portfolios
POLYONE CORPORATION 30
Printed Circuit Boards
with Thermally Conductive Polymers
Replaces metal by etching
circuit designs into thermally
conductive plastic
Maintains heat transfer and
cooling capabilities of metals
Reduces both weight and cost
Increases the lifetime and
reliability of electronic systems
POLYONE CORPORATION 31
Color & Design Services
Greater control of color development
and supply chain
Work across entire design process
from concept to commercialization
Inspire creativity in the use of
polymer materials, colors
and effects
Innovative brand differentiation
Faster development timelines
POLYONE CORPORATION 32
Outdoor Applications
Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
POLYONE CORPORATION 33
Fiber Colorants
Solutions for clothing, apparel, footwear, automotive & sporting goods
ColorMatrix Fiber Colorant Solutions
Proprietary advanced liquid color
formulations and equipment enable
greater efficiency and productivity
Eliminates aqueous dyeing and its
associated wastewater treatment
Solid Color Concentrates
Extrusion-spun fibers colored via
solid masterbatch
POLYONE CORPORATION 34
Improve performance and reduce
cost through light-weighting,
reduced waste, faster cycle times
and extended shelf life
Aligned with megatrend of facing
climate and resource challenges:
Sustainability benefits include
lower package weight and
improved recyclability of
package at end of use
Shelf-life
extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat
resistance
Preservative Technology
POLYONE CORPORATION 35
Metal Replacement Solutions
Replaces metal in LED lighting
Extends LED durability and life
span eliminating hot spots
Greater design flexibility with
fewer parts
Weight reduction
Simplifies manufacturing and
lowers total production cost
POLYONE CORPORATION 36
High-Barrier Packaging Containers
Capability to extrude up to 13
layers
Strong oxygen and moisture vapor
transmission protection
Can be made symmetrical or
asymmetrical to meet customized
needs of broad variety of
applications
Barrier protection and superior
sensory properties
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented in accordance with U.S.
Segment Highlights
At a Glance: Color, Additives & Inks
At a Glance: Specialty Engineered Materials
At a Glance: Designed Structures & Solutions
At a Glance: Performance Products & Solutions
At a Glance: Distribution
Application Examples
Luxury Packaging�with Gravitech Density Modified Polymers
Medical Device Housings�with Chemically Resistant Engineered Polymers
Printed Circuit Boards�with Thermally Conductive Polymers
Color & Design Services
Outdoor Applications
Fiber Colorants�Solutions for clothing, apparel, footwear, automotive & sporting goods
Slide Number 34
Metal Replacement Solutions
High-Barrier Packaging Containers
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Jefferies%2520Conf%2520w%2520Non%2520GAAP%252008%252012%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates
and changes in the rate of inflation.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 8
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 15.2% 12 – 16%
Global Specialty Engineered
Materials 1.1% 11.8% 12 – 16%
Designed Structures & Solutions -- 7.1% 8 – 10%
Performance Products &
Solutions 5.5% 8.0% 9 – 12%
Distribution 2.6% 6.0% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 66% 65 – 75%
3) ROIC* 5.0% 9.9% 15%
4) Adjusted EPS Growth N/A 40% Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
(Est. in 2012)
PolyOne Corporation Page 9
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid Single Digit Revenue CAGR
PolyOne Corporation Page 10
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 11
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity*
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions) TBD TBD $800 $450 $450 $1,700
*Pipeline as of May 29, 2014 as presented during our Innovation Day
PolyOne Corporation Page 12
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of June 30, 2014
Debt Maturities & Pension Funding – 6/30/14
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of June 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 6/30/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.8 million shares in
Q2 2014
Repurchased 8.2 million
shares since early 2013
11.8 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Platform operating income mix percentage 2005Y* 2008Y* 2010Y* 2013Y 2014 Q2
Global Color, Additives and Inks $ 4.3 $ 28.1 $ 37.7 $ 104.0 $ 68.1
Global Specialty Engineered Materials 0.4 17.6 49.7 57.2 37.2
Designed Structures and Solutions - - - 33.4 24.1
Specialty Platform $ 4.7 $ 45.7 $ 87.4 $ 194.6 $ 129.4
Performance Products and Solutions 75.7 31.3 54.0 56.0 33.6
Distribution 19.5 28.1 42.0 63.3 34.5
Joint ventures 91.9 28.6 18.9 - -
Corporate and eliminations (51.5) (425.1) (27.7) (82.4) (91.7)
Operating income (loss) GAAP $ 140.3 $ (291.4) $ 174.6 $ 231.5 $ 105.8
Less: Corporate operating expense 51.5 425.1 27.7 82.4 91.7
Operating income excluding Corporate $ 191.8 $ 133.7 $ 202.3 $ 313.9 $ 197.5
Specialty platform operating mix percentage 2% 34% 43% 62% 66%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Credit%2520Suisse%2520w%2520non%2520GAAP%25206%252025%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates
and changes in the rate of inflation
S&P 500
All time high of
$42.47
June 6th, 2014
PolyOne Corporation Page 9
2006 Q1 2014 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 13.8% 12 – 16%
Global Specialty Engineered
Materials
1.1% 11.6% 12 – 16%
Designed Structures & Solutions -- 6.5% 8 – 10%
Performance Products &
Solutions
5.5% 7.7% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income
6.0% 64% 65 – 75%
3) ROIC* 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 42%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement
Several Levers to
Drive Growth
Mid Single Digit Revenue CAGR
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 3/31/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million shares in
Q1 2014
Repurchased 6.4 million
shares since April 2013
13.6 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
Formula for Success
Innovation
Market
Beating
Performance
Excellence in Execution
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Platform operating income mix percentage 2005Y* 2008Y* 2010Y* 2013Y 2014 Q1
Global Specialty Engineered Materials $ 0.4 $ 17.6 $ 49.7 $ 57.2 $ 18.3
Global Color, Additives and Inks 4.3 28.1 37.7 104.0 30.4
Designed Structures and Solutions - - - 33.4 11.2
Specialty Platform $ 4.7 $ 45.7 $ 87.4 $ 194.6 $ 59.9
Performance Products and Solutions 75.7 31.3 54.0 56.0 16.0
Distribution 19.5 28.1 42.0 63.3 17.2
SunBelt Joint venture 91.9 28.6 18.9 - -
Corporate (51.5) (425.1) (27.7) (82.4) (36.7)
Operating income (loss) GAAP $ 140.3 $ (291.4) $ 174.6 $ 231.5 $ 56.4
Less: Corporate operating expense 51.5 425.1 27.7 82.4 36.7
Operating income excluding Corporate $ 191.8 $ 133.7 $ 202.3 $ 313.9 $ 93.1
Specialty platform operating mix percentage 2% 34% 43% 62% 64%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520GS%2520w%2520non%2520GAAP%25205_21_14.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned manufacturing realignment and the Company’s ability to realize anticipated savings and
operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation.
• The above list of factors is not exhaustive.
• We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
S&P 500
All time high of
$39.55
May 13th, 2014
Page 8
2006 Q1 2014 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 13.8% 12 – 16%
Global Specialty Engineered
Materials 1.1% 11.6% 12 – 16%
Designed Structures & Solutions -- 6.5% 8 – 10%
Performance Products &
Solutions 5.5% 7.7% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 64% 65 – 75%
3) ROIC* 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 42% Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 9
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental share buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid single digit revenue CAGR
Page 10
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
Page 11
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Page 12
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 3/31/2014
Page 13
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing, and
technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million shares in Q1
2014
Repurchased 6.4 million shares
since April 2013
13.6 million shares are
available for repurchase
under the current
authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
Page 14
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Platform operating income mix percentage 2005Y* 2008Y* 2010Y* 2013Y 2014 Q1
Global Specialty Engineered Materials $ 0.4 $ 17.6 $ 49.7 $ 57.2 $ 18.3
Global Color, Additives and Inks 4.3 28.1 37.7 104.0 30.4
Designed Structures and Solutions - - - 33.4 11.2
Specialty Platform $ 4.7 $ 45.7 $ 87.4 $ 194.6 $ 59.9
Performance Products and Solutions 75.7 31.3 54.0 56.0 16.0
Distribution 19.5 28.1 42.0 63.3 17.2
SunBelt Joint venture 91.9 28.6 18.9 - -
Corporate (51.5) (425.1) (27.7) (82.4) (36.7)
Operating income (loss) GAAP $ 140.3 $ (291.4) $ 174.6 $ 231.5 $ 56.4
Less: Corporate operating expense 51.5 425.1 27.7 82.4 36.7
Operating income excluding Corporate $ 191.8 $ 133.7 $ 202.3 $ 313.9 $ 93.1
Specialty platform operating mix percentage 2% 34% 43% 62% 64%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/POL%2520Sidoti%2520IR%2520Presentation%2520w%2520Non%2520GAAP%25203%252018%25202014.pdf
Platform operating income mix percentage 2005Y* 2006* 2008Y* 2010Y* 2013Y
Global Specialty Engineered Materials $ 0.4 $ 3.9 $ 17.6 $ 49.7 $ 57.2
Global Color, Additives and Inks 4.3 8.9 28.1 37.7 104.0
Designed Structures and Solutions - - - - 33.4
Specialty Platform $ 4.7 $ 12.8 $ 45.7 $ 87.4 $ 194.6
Performance Products and Solutions 75.7 64.2 31.3 54.0 56.0
Distribution 19.5 19.2 28.1 42.0 63.3
SunBelt Joint venture 91.9 102.9 28.6 18.9 -
Corporate (51.5) 34.5 (425.1) (27.7) (82.4)
Operating income (loss) GAAP $ 140.3 $ 233.6 $ (291.4) $ 174.6 $ 231.5
Less: Corporate operating expense 51.5 (34.5) 425.1 27.7 82.4
Operating income excluding Corporate $ 191.8 $ 199.1 $ 133.7 $ 202.3 $ 313.9
Specialty platform operating mix percentage 2% 6% 34% 43% 62%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
Reconciliation to Condensed Consolidated Balance Sheets 2013
Short-term debt and current portion of long-term debt $ 12.7
Long-term debt 976.2
Less cash and cash equivalents (365.2)
Net debt $ 623.7
Adjusted EBITDA 2013
Income before income taxes $ 151.0
Interest expense, net 63.5
Depreciation and amortization 108.8
Special items in EBITDA 31.7
Adjusted EBITDA $ 355.0
2
Platform sales and operating income (OI) 2006Y* 2013Y
Global Specialty Engineered Materials sales $ 345.3 $ 615.5
Global Color, Additives and Inks sales 531.8 852.3
Designed Structures and Solutions sales - 597.4
Specialty Platform sales 877.1 2,065.2
Performance Products and Solutions sales 1,166.2 773.2
PolyOne Distribution sales 732.8 1,075.2
Corporate and eliminations (153.7) (142.4)
Total sales $ 2,622.4 $ 3,771.2
Global Specialty Engineered Materials OI $ 3.9 $ 57.2
Global Color, Additives and Inks OI 8.9 104.0
Designed Structures & Solutions OI - 33.4
Specialty Platform OI 12.8 194.6
Performance Products and Solutions OI 64.2 56.0
PolyOne Distribution OI 19.2 63.3
Sunbelt Joint Venture OI 102.9 -
Corporate and eliminations (4.6) (52.4)
Special items in OI 39.1 (30.0)
Operating income GAAP 233.6 231.5
Sunbelt equity income (107.0) -
Special items in OI (39.1) 30.0
Adjusted operating income $ 87.5 $ 261.5
Global Specialty Engineered Materials - OI % of sales 1.1% 9.3%
Global Color, Additives and Inks - OI % of sales 1.7% 12.2%
Designed Structures & Solutions - OI % of sales - 5.6%
Specialty platform OI - % of sales 1.5% 9.4%
PP&S operating OI - % of sales 5.5% 7.2%
Distribution OI - % of sales 2.6% 5.9%
PolyOne OI adjusted - % of sales 3.3% 6.9%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
Appendix
At a Glance�Global Specialty Engineered Materials
At a Glance�Global Color, Additives, and Inks
At a Glance�Designed Structures and Solutions
At a Glance�Performance Products and Solutions
At a Glance�Distribution
Plastics: Key to Future Sustainable Development
Establish Lean Six Sigma As Way of Life
Application Examples
Slide Number 24
2012 Range Rover Evoque Interior
Slide Number 26
Slide Number 27
Metal Replacement Solutions
High-Barrier Packaging Containers
Aerospace Applications
Sidoti Reconciliation of Non-GAAP.pdf
Section 1
https://www.avient.com/sites/default/files/resources/Credit%2520Suisse%2520June%252026%25202013.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The time required to consummate the divestiture of our resin assets and the satisfaction or waiver of conditions in the sale agreement;
Any material adverse changes in the business supporting the resin assets being sold;
The ability to obtain required regulatory or other third-party approvals and consents and otherwise consummate the proposed divestiture
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies; our
ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The amount and timing of repurchases, if any, of PolyOne common shares and our ability to pay regular quarterly cash dividends and the amounts and
timing of any future dividends;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation.
• The above list of factors is not exhaustive.
• We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Platform operating income mix percentage 2005Y* 2006Y* 2007Y* 2008Y* 2009Y* 2010Y* 2011Y*
Global Specialty Engineered Materials $ 0.4 $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9
Global Color, Additives and Inks 4.3 8.9 25.7 28.1 25.2 37.7 43.4
Specialty Platform $ 4.7 $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3
Performance Products and Solutions 75.7 64.2 65.8 31.3 33.1 54.0 62.4
Distribution 19.5 19.2 22.1 28.1 24.8 42.0 56.0
SunBelt Joint Venture 91.9 102.9 34.8 28.6 25.5 18.9 5.0
Corporate (51.5) 34.5 (73.3) (425.1) 7.9 (27.7) 20.3
Operating income (loss) GAAP $ 140.3 $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0
Less: Corporate operating expense (income) 51.5 (34.5) 73.3 425.1 (7.9) 27.7 (20.3)
Operating income excluding Corporate $ 191.8 $ 199.1 $ 153.3 $ 133.7 $ 129.2 $ 202.3 $ 212.7
Specialty platform operating mix percentage 2% 6% 20% 34% 35% 43% 42%
Platform operating income mix percentage 2012Y* 2012PF**
Global Specialty Engineered Materials $ 47.0 $ 47.7
Global Color, Additives and Inks 66.8 81.6
Designed Structures & Solutions -- 20.9
Specialty Platform $ 113.8 $ 150.2
Performance Products and Solutions 74.9 37.4
Distribution 66.0 66.0
Corporate (87.6) ( 87.9)
)Operating income GAAP $ 167.1 $ 165.7
Less: Corporate operating expense 87.6 87.9
Operating income excluding Corporate $ 254.7 $ 253.6
45% 60%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes the Resin business assets.
Specialty platform operating mix percentage
Platform sales and operating income (OI) 2006Y* 2007Y* 2008Y* 2009Y* 2010Y* 2011Y*
Global Specialty Engineered Materials
Sales $ 345.3 $ 384.4 $ 514.0 $ 402.9 $ 517.4 $ 575.1
Global Color, Additives and Inks Sales 531.8 560.5 554.3 459.8 527.4 544.6
Specialty Platform Sales $ 877.1 $ 944.9 $ 1,068.3 $ 862.7 $ 1,044.8 $ 1,119.7
Performance Products and Solutions Sales 1,166.2 1,086.8 1,001.4 667.7 776.3 865.4
PolyOne Distribution Sales 732.8 744.3 796.7 625.1 911.9 996.5
Corporate and Eliminations (153.7) (133.3) (127.7) (94.8) (111.1) (118.1)
Total Sales $ 2,622.4 $ 2,642.7 $ 2,738.7 $ 2,060.7 $ 2,621.9 $ 2,863.5
Global Specialty Engineered Materials OI $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9
Global Color, Additives and Inks OI 8.9 25.7 28.1 25.2 37.7 43.4
Specialty Platform OI $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3
Performance Products and Solutions OI 64.2 65.8 31.3 33.1 54.0 62.4
PolyOne Distribution OI 19.2 22.1 28.1 24.8 42.0 56.0
Sunbelt Joint Venture OI 102.9 34.8 28.6 25.5 18.9 5.0
Corporate and eliminations (4.6) (25.5) (28.9) (40.8) (32.5) (26.4)
Special items in OI 39.1 (47.8) (396.2) 48.7 4.8 46.7
Operating income (loss) GAAP $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0
Sunbelt equity income (107.0) (40.8) (32.5) (29.7) (23.1) (5.7)
Special items in OI (39.1) 47.8 396.2 (48.7) (4.8) (46.7)
Operating income adjusted $ 87.5 $ 87.0 $ 72.3 $ 58.7 $ 146.7 $ 180.6
Global Specialty Engineered Materials - OI
% of sales
1.1%
1.3%
3.4%
5.1%
9.6%
8.0%
Global Color, Additives and Inks - OI
% of sales 1.7% 4.6% 5.1% 5.5%
7.1%
8.0%
Specialty platform OI - % of sales 1.5% 3.2% 4.3% 5.3% 8.4% 8.0%
PP&S operating OI - % of sales 5.5% 6.1% 3.1% 5.0% 7.0% 7.2%
Distribution OI - % of sales 2.6% 3.0% 3.5% 4.0% 4.6% 5.6%
PolyOne OI adjusted - % of sales 3.3% 3.3% 2.6% 2.8% 5.6% 6.3%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes the Resin business assets.
https://www.avient.com/sites/default/files/resources/POL%2520CFA%2520IR%2520Presentation%2520w%2520non%2520GAAP%252011%252019%25202013.pdf
Platform operating income mix percentage 2005Y* 2008Y* 2010Y* YTD 2013
Global Specialty Engineered Materials $ 0.4 $ 17.6 $ 49.7 $ 48.2
Global Color, Additives and Inks 4.3 28.1 37.7 83.4
Designed Structures and Solutions - - - 21.4
Specialty Platform $ 4.7 $ 45.7 $ 87.4 $ 153.0
Performance Products and Solutions 75.7 31.3 54.0 41.8
Distribution 19.5 28.1 42.0 49.7
SunBelt Joint venture 91.9 28.6 18.9 -
Corporate (51.5) (425.1) (27.7) (61.7)
Operating income (loss) GAAP $ 140.3 $ (291.4) $ 174.6 $ 182.8
Less: Corporate operating expense 51.5 425.1 27.7 61.7
Operating income excluding Corporate $ 191.8 $ 133.7 $ 202.3 $ 244.5
Specialty platform operating mix percentage 2% 34% 43% 63%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
Platform sales and operating income (OI) 2006Y*
YTD 2013
Organic’ Acquisitions**
YTD 2013’
Consolidated
Global Specialty Engineered Materials Sales $ 345.3 $ 427.2 $ 113.6 $ 540.8
Global Color, Additives and Inks Sales 531.8 608.0 45.7 653.7
Designed Structures and Solutions Sales - - 428.2 428.2
Specialty Platform Sales $ 877.1 $ 1,035.2 $ 587.5 1,622.7
Performance Products and Solutions Sales 1,166.2 473.6 39.2 512.8
PolyOne Distribution Sales 732.8 818.1 - 818.1
Corporate and eliminations (153.7) (106.0) - (106.0)
Total Sales $ 2,622.4 $ 2,220.9 $ 626.7 $ 2,847.6
Global Specialty Engineered Materials OI $ 3.9 $ 46.1 $ 2.1 $ 48.2
Global Color, Additives and Inks OI 8.9 78.0 5.4 83.4
Designed Structures & Solutions OI - - 21.4 21.4
Specialty Platform OI $ 12.8 $ 124.1 $ 28.9 $ 153.0
Performance Products and Solutions OI 64.2 38.1 3.7 41.8
PolyOne Distribution OI 19.2 49.7 - 49.7
Sunbelt Joint Venture OI 102.9 - - -
Corporate and eliminations (4.6) (39.5) - (39.5)
Special items in OI 39.1 (22.2) - (22.2)
Operating income GAAP $ 233.6 $ 150.2 $ 32.6 $ 182.8
Sunbelt equity income (107.0) - - -
Special items in OI (39.1) 22.2 - 22.2
Operating income adjusted $ 87.5 $ 172.4 $ 32.6 $ 205.0
Global Specialty Engineered Materials - OI % of sales 1.1% 10.8% 1.8% 8.9%
Global Color, Additives and Inks - OI % of sales 1.7% 12.8% 11.8% 12.8%
Designed Structures & Solutions - OI % of sales - - 5.0% 5.0%
Specialty platform OI - % of sales 1.5% 12.0% 5.0% 9.4%
PP&S operating OI - % of sales 5.5% 8.0% 9.4% 8.2%
Distribution OI - % of sales 2.6% 6.1% - 6.1%
PolyOne OI adjusted - % of sales 3.3% 7.8% 5.2% 7.2%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
** Spartech and Glasforms results for the nine months ended September 30, 2013.
Three Months Ended
‘’’’’September 30,
Platform operating income “””””””2013 2012 (a)
Global Specialty Engineered Materials $ 15.7 $ 13.1
Global Color, Additives and Inks 28.7 18.6
Designed Structures and Solutions 10.9 –
Specialty Platform 55.3 31.7
Performance Products and Solutions 14.3 12.3
PolyOne Distribution 16.6 16.4
Corporate and eliminations (24.6) (16.9)
Operating income $ 61.6 $ 43.5
(a) Adjusted to reflect the resins business as a discontinued operation.
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Buyer shall be obliged to accept the
Products and pay the rate specified in the order
confirmation for the quantity of Products
delivered by Seller.
なお上記の場合
6
confirmation for pending delivery of Products
unless Buyer makes such payment for Products
on a cash in advance basis or provides adequate
assurance of such payment for Products to
Seller.
Shortage of Product.