https://www.avient.com/sites/default/files/2023-09/Avient Sustainability Day 2023 - Website %289.19%29.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of future operating or
financial condition, performance and/or sales.
Louie LaBonte – Print Specialist, Standards & Capabilities
“Avient has been a tremendous long-term partner with IVCC in the development of
insecticide treated mosquito nets in the global fight against Malaria.”
Plastics Pact
Post-Consumer Recycle (PCR)
Color Predictive Tool
Innovation Award, Winner:
Product Technology Innovation, Winner:
Plastics Recycling Awards Europe 2023
Additive for
Enhanced Recycling
Innovation Award, Finalist:
Product Technology Innovation, Finalist:
Plastics Recycling Awards Europe 2023
Service Innovation
Enables Quality Recycle
Product Innovation
Enables PCR Claims + Low CO2
Product Innovation
Protects Quality Recycle
…are Growing at Twice the Rate as
Conventional ProductsSustainably-Branded Products…
Consumers
Are demanding
recyclability and eco-
conscious products
Governments
Are mandating changes
through legislation, taxes,
and regional accords
STAKEHOLDER INFLUENCE DRIVES DEMAND
For Sustainable Products From Sustainable Companies
Brand Owners
Have committed to ambitious
goals to achieve
sustainability metrics
Avient Corporation 77
Avient Corporation 78
SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH
8-12%
Long Term
Growth
18
46
2023 2032
Global Offshore Annual
Wind Installations
(in Gigawatts)
2022 2030
Medical Plastics
Market Size
(in $Billions)
12% CAGR
3% CAGR
Recycled
Virgin
Growing Demand for
Recycled Content
Avient Sustainable
Solutions
11% CAGR
8% CAGR
Sources: McKinsey, Bloomberg, Grand View Research
Avient Corporation 79
Increasing the use
of recycled content
Reducing weight to
lower fuel consumption
2022 SALESDESCRIPTION
$340M
$310M
$525M
OUTCOMES
Enabling customers to
advance the circular economy
Shrinking carbon footprint
and decreasing emissions
Making our planet a better
place for all
Using fewer natural resources;
protecting human life
$1,175MTOTAL SALES
SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH
AVIENT IS WELL-POSITIONED
A Clean House
Avient holds leading ratings on
ESG matters of importance to
customers, countries, and
key stakeholders
Leading Portfolio
Our formulation expertise and materials
are meeting the unique sustainability
needs of our customers around the world
in endless applications
8-12% Long-Term Growth RateAvient’s Sustainable Solutions
Investing in Innovation
85% of our opportunity funnel is
directed at sustainable solutions
addressing unmet customer needs
Avient Corporation 80
Avient Corporation 81
ADJUSTED EBITDA MARGIN EXPANSION
• Transformative acquisitions
combined with divestitures of
more cyclical businesses have
improved margins over 400 bps
since 2018
• 20% long-term margin goal to be
driven by key growth drivers, with
sustainable solutions playing a
meaningful role
5.4%
11.5%
16.0%
17.3%
20% 20.0%
2006 2018 2023E Recovery Growth
Drivers
Strategic
Objective
20%+
+1%+
+3%+
Community Service
7x Safer
than Industry Average
World-Class Safety
Leadership Development
Over $19 million
raised since 2007
Diversity & Inclusion
PEOPLE AND CULTURE
Avient Corporation 82
Avient Corporation 83
• 6% annualized long-term sales growth leveraging
sustainable solutions, composites, healthcare, and
emerging regions
• Expand EBITDA margins to 20%
• Deliver annual EBITDA and EPS growth of
10% and 15%
• Maintain asset-light, 80% free cash flow conversion
profile and be valued as a specialty formulator
• Continue fostering our Great Place to Work® culture
LONG-TERM OBJECTIVES
Avient Corporation 84
Wrap Up and Q + A
Chairman, President, and Chief Executive Officer
Avient Corporation 85
Investor Deck_9_19_23 v4_WEBSITE_GAAP.pdf
2023 SR Non-GAAP Rec v3
https://www.avient.com/sites/default/files/2023-05/SG Liner for Pipe Replacement - Case Study.pdf
The reinforcement material
increased breaking efficiency, resistance to long-term
creep, elevated temperatures, and cyclical strain-
based fatigue.
These elements were critical to the
long-term efficacy and safety of the pipeline applicator.
https://www.avient.com/sites/default/files/resources/PolyOne%25202016%2520Annual%2520Report%2520Web.pdf
Under
the terms of the amended senior secured term loan, the margin was reduced by 25 basis points to 275 basis points.
Under
the terms of the amended senior secured term loan, the margin was reduced by 25 basis points to 275 basis points.
Short-term investments in
common collective funds represent cash and other short-term investments.
https://www.avient.com/sites/default/files/2022-03/Avient 2021 Annual Report.pdf
We offer payment terms to our customers that are competitive.
Under the terms of
the amended senior secured term loan, the margin was reduced by 25 basis points to 175 basis points.
Under the terms of
the amended senior secured term loan, the margin was reduced by 25 basis points to 175 basis points.
https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
We offer payment terms to our customers that are competitive.
Š To develop our expected long-term
return on plan assets, we consider
historical and forward looking long-term
asset returns and the expected
investment portfolio mix of plan assets.
Short-term investments in common collective funds represent cash and other short-term
investments.
https://www.avient.com/sites/default/files/2021-03/avient-march-ir-fermium_0.pdf
Investing in Innovation — Specialty companies invest to grow, so we ensure our
resources are concentrated on material science for high-growth end markets, poised for
value creation in the long term.
Whether it’s an ambitious start-up bringing a new product to market, or a large, multi-
national OEM looking for consistency and reliability of global supply, Avient is built for
long-term partnerships.
That’s Avient.
21,000+
CUSTOMERS
>75%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
6
AVIENT’S VALUE CREATION LEVERS
7
Exposure to high growth end markets
Investment in commercial resources and innovation
Strong free cash flow generation / capital deployment
Clariant Masterbatch synergies
COVID recovery
Re-Rating: Current share price valuation
Avient is poised for near-term and long-term
shareholder value creation.
https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
They use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,”
“plan,” “believe,” and other words and terms of similar meaning in connection with any discussion
of future operating or financial condition, performance and/or sales.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, adjustments to uncertain tax position reserves and
deferred income tax valuation allowances.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
Year Ended
December 31,
2021 2020
ASSETS
Current assets:
Cash and cash equivalents $ 601.2 $ 649.5
Accounts receivable, net 642.3 516.6
Inventories, net 461.1 327.5
Other current assets 128.1 108.5
Total current assets 1,832.7 1,602.1
Property, net 676.1 694.9
Goodwill 1,286.4 1,308.1
Intangible assets, net 925.2 1,008.5
Operating lease assets, net 74.1 80.9
Other non-current assets 208.4 176.0
Total assets $ 5,002.9 $ 4,870.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 8.6 $ 18.6
Accounts payable 553.9 471.7
Current operating lease obligations 24.2 25.1
Accrued expenses and other current liabilities 359.6 285.6
Total current liabilities 946.3 801.0
Non-current liabilities:
Long-term debt 1,850.3 1,854.0
Pension and other post-retirement benefits 100.0 115.0
Deferred income taxes 100.6 140.0
Non-current operating lease obligations 50.1 56.0
Other non-current liabilities 165.1 192.8
Total non-current liabilities 2,266.1 2,357.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,774.7 1,697.1
Noncontrolling interest 15.8 14.6
Total equity 1,790.5 1,711.7
Total liabilities and equity $ 5,002.9 $ 4,870.5
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Year Ended
December 31,
2021 2020
Operating activities
Net income $ 230.6 $ 133.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 144.2 111.8
Accelerated depreciation 1.7 3.2
Share-based compensation expense 11.2 11.3
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (143.1) (4.6)
(Increase) decrease in inventories (139.5) 40.2
Increase in accounts payable 95.3 78.4
(Decrease) increase in pension and other post-retirement benefits (10.9) 30.7
Increase in post-acquisition earnout liabilities — 1.0
Increase (decrease) in accrued expenses and other assets and liabilities, net 44.3 (3.7)
Taxes paid on gain on divestiture — (142.0)
Payment of post-acquisition date earnout liability — (38.1)
Net cash provided by operating activities 233.8 221.6
Investing activities
Capital expenditures (100.6) (63.7)
Business acquisitions, net of cash acquired (47.6) (1,380.2)
Net proceeds from divestiture — 7.1
Other investing activities (2.0) 5.2
Net cash used by investing activities (150.2) (1,431.6)
Financing activities
Debt offering proceeds — 650.0
Purchase of common shares for treasury (4.2) (22.4)
Cash dividends paid (77.7) (71.3)
Repayment of long-term debt (18.5) (7.8)
Payments on withholding tax on share awards (10.7) (2.3)
Debt financing costs — (9.5)
Equity offering proceeds, net of underwriting discount and issuance costs — 496.1
Payment of acquisition date earnout liability — (50.8)
Other financing activities (3.5) —
Net cash (used) provided by financing activities (114.6) 982.0
Effect of exchange rate changes on cash (17.3) 12.8
Decrease in cash and cash equivalents (48.3) (215.2)
Cash and cash equivalents at beginning of year 649.5 864.7
Cash and cash equivalents at end of year $ 601.2 $ 649.5
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income at the segment level does not include: special items as defined in Attachment 3; corporate general and
administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation
costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed by
the chief operating decision maker.
In addition, operating income before the effect of special items is
a component of Avient annual and long-term employee incentive plans and is used in debt covenant computations.
https://www.avient.com/sites/default/files/2022-02/AVNT Q4 2021 Earnings Presentation_0.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words
and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
We will deliver for our stakeholders through multiple value creation levers—many of
which are unique to Avient:
o Demand for sustainable solutions, healthcare, and composites, together with Clariant Color
revenue synergies, that will drive long-term revenue growth in excess of GDP
o Clariant color cost synergy capture will result in significant near-term benefit
In addition, we remain committed to increasing annual dividends in line with earnings growth and
opportunistically buying back shares, all while remaining modestly levered.
In addition, operating
income before the effect of special items is a component of Avient’s annual and long-term employee incentive plans and is used
in debt covenant computations.
https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
Khandpur added, “Despite the near-term uncertainties in the macro environment, we remain
focused on what we can control: staying close to our customers and executing our strategy.
Building off our strong performance in 2024, I remain optimistic in our team’s ability to achieve
the long-term financial targets we shared at Investor Day last December.”
3
Webcast Details
Avient will provide additional details on its 2024 fourth quarter and full year results, as well as its
2025 full year outlook during its webcast scheduled for 8:00 a.m.
They use words such as "will," "anticipate," "estimate," "expect,"
"project," "intend," "plan," "believe," and other words and terms of similar meaning in connection
with any discussion of future operating or financial condition, performance and/or sales.
https://www.avient.com/sites/default/files/2024-02/CAI W_C Colorants and Additives for TPU Product Bulletin _A4.pdf
The inclusion of these additives
can help a cable to pass flame resistance tests,
even if the resin originally used is not flame
retardant
• Cesa™ Light Additives: UV light stabilizers that
improve weather resistance and provide long
term protection against weather degradation
• Semi-conductive TPU formulations to
enhance cable performance
• Cesa™ Laser Additives: Includes laser-marking
additives for durable cable marking.
They
provide excellent contrast for dark or light
colors with high resistance to external friction
or chemicals
• Smartbatch™ Combination Colorants &
Additives: Combines colorants and
performance enhancing additives in a single
formulation for easier dosing. e.g., long-term
light stabilization additive and custom color
in one pellet.