https://www.avient.com/news/polyone-launches-natural-fiber-reinforced-solutions-brilliant-colors
While the automotive industry has responded well to reSound NF, which was introduced earlier this year, we have seen significant interest in these strong, lightweight solutions from manufacturers in consumer and other industries,” said Holger Kronimus, VP Europe and general manager, PolyOne Specialty Engineered Materials.
Introduced this year in March, reSound NF composites feature an engineered natural fiber reinforcement.
SEARCH INVESTOR NEWS
https://www.avient.com/news/polyone-eco-conscious-solutions-help-schneider-electric-achieve-sustainability-goals
FISCHBACH, Luxembourg – PolyOne Corporation today announced that advanced, halogen-free material solutions are helping Schneider Electric to engineer better product performance, improve efficiency and strengthen its globally recognized sustainability strategy.
This project highlights Schneider as a leader in eco-conscious design, and demonstrates the importance of materials that reinforce these efforts while maximizing production efficiency,” commented Holger Kronimus, vice president Europe and general manager, Specialty Engineered Materials, Europe at PolyOne.
SEARCH INVESTOR NEWS
https://www.avient.com/news/polyone-highlights-new-geon-cellular-vinyl-plastics-extrusion-world-expo
The family of Geon Cellular Vinyl formulations are engineered specifically for interior building and construction applications and include a proprietary technology that alleviates separation and consistency issues found with typical cellular PVC dry blends.
Plenstarä Vinyl Grades: designed for plenum applications and engineered to meet performance needs for telecommunication cables
SEARCH INVESTOR NEWS
https://www.avient.com/sites/default/files/2025-02/Hammerhead FR Panel eBook.pdf
Integrated, non-halogenated FR: Engineered to meet fire retardance standards
without the need for additional fireproofing layers.
That means fewer steps in your process and
one less thing to worry about.
1 Test reports available upon request
PRICE
ONE-STEP
FIRE
STRENGTH
YOU CAN
PRICE
ONE-STEP
FIRE
STRENGTH
YOU CAN
• Full Speed Ahead: In modular construction, every saved hour counts.
To get material samples and engineering data on Hammerhead FR flame
retardant composite panels, let’s start a conversation.
https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
The company noted that GAAP EPS includes special items of
$0.29 (Attachment 3) primarily associated with one-time tax benefits of $0.35, which was
partially offset by acquisition-related and restructuring costs.
In addition, a recording of the audio will be available for one week, beginning at 12:00
p.m.
Three Months Ended
Year Ended
Sales:
Color, Additives and Inks $ 525.8 $ 226.7 $ 1,502.9 $ 1,003.8
Specialty Engineered Materials 190.6 177.5 708.8 745.7
Distribution 305.1 272.4 1,110.3 1,192.2
Corporate and eliminations (24.5) (18.0) (79.9) (79.0)
Sales $ 997.0 $ 658.6 $ 3,242.1 $ 2,862.7
Gross margin:
Color, Additives and Inks $ 164.3 $ 73.9 $ 484.4 $ 338.4
Specialty Engineered Materials 59.1 47.7 207.6 200.2
Distribution 32.4 31.0 124.0 132.1
Corporate and eliminations (2.9) 0.7 (31.7) (13.5)
Gross margin $ 252.9 $ 153.3 $ 784.3 $ 657.2
Selling and administrative expense:
Color, Additives and Inks $ 106.8 $ 46.7 $ 303.6 $ 191.0
Specialty Engineered Materials 28.7 28.9 113.2 116.5
Distribution 14.4 14.0 54.5 56.7
Corporate and eliminations 38.0 43.2 123.7 136.2
Selling and administrative expense $ 187.9 $ 132.8 $ 595.0 $ 500.4
Operating income:
Color, Additives and Inks $ 57.5 $ 27.2 $ 180.8 $ 147.4
Specialty Engineered Materials 30.4 18.8 94.4 83.7
Distribution 18.0 17.0 69.5 75.4
Corporate and eliminations (40.9) (42.5) (155.4) (149.7)
Operating income $ 65.0 $ 20.5 $ 189.3 $ 156.8
11
Attachment 7
Reconciliation of Non-GAAP Financial Measures (Unaudited)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current
profitability levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/2023-01/Revolve Tripod Case Study.pdf
From deployable
composite booms in space to lightweight antenna
mast structures on the ground, its unique technology
has attracted attention from engineers and product
designers worldwide.
Based on expertise in reducing weight and improving
portability of mast structures and antennas for the
military, Rolatube engineers realized the legs of the
tripod could be designed to roll into a compact and
portable coil, eliminating the complexity and added
weight of telescopic hardware.
With a rolled
storage size of just 7" x 6" (18 x 15 cm), the Revolve
packs up at one-third of the size of traditional tripod
designs.
https://www.avient.com/sites/default/files/2023-01/PCR Color Prediction Service Technology Snapshot 2022_Appliances.pdf
ELECTRICAL
APPLIANCE BRAND
H O U S E H O L D P R O D U C T S I N
R E C Y C L E D A B S A N D P S
• Support to qualify a new raw material sourcing process
• Color prediction feasibility for new material grades
• Color design guidance to maintain brand identity and differentiation
• Color solutions that work with mixed grades of rABS and recycled
polystyrene
• Worked with the brand owner to test multiple
styrenic grades and understand the best fit across
colors and recycled resins
• Supported integration of multiple resin solutions for
the best rendering and aesthetics in rABS and rPS
• Helped approve 7 colors to be launched within the
forthcoming 18 months
PCR Color Prediction Service
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/AVNT Q1 2023 Earnings Press Release.pdf
A recording of the webcast and the slide presentation will be available at
avient.com/investors/events-presentations immediately following the conference call and will be
accessible for one year.
Three Months Ended
March 31, 2023
Three Months Ended
March 31, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 20.8 $ 0.23 $ 64.4 $ 0.70
Special items, after tax (Attachment 3) 22.3 0.24 6.4 0.07
Amortization expense, after-tax 15.1 0.16 10.8 0.12
Adjusted net income / EPS $ 58.2 $ 0.63 $ 81.6 $ 0.89
8
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2023 2022
Sales $ 845.7 $ 892.2
Cost of sales 598.1 637.8
Gross margin 247.6 254.4
Selling and administrative expense 190.5 152.2
Operating income 57.1 102.2
Interest expense, net (28.8) (16.9)
Other income (expense), net 0.7 (0.6)
Income from continuing operations before income taxes 29.0 84.7
Income tax expense (7.7) (20.0)
Net income from continuing operations 21.3 64.7
(Loss) income from discontinued operations, net of income taxes (0.9) 19.8
Net income 20.4 84.5
Net income attributable to noncontrolling interests (0.5) (0.3)
Net income attributable to Avient common shareholders $ 19.9 $ 84.2
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.23 $ 0.70
Discontinued operations (0.01) 0.22
Total $ 0.22 $ 0.92
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.23 $ 0.70
Discontinued operations (0.01) 0.21
Total $ 0.22 $ 0.91
Cash dividends declared per share of common stock $ 0.2475 $ 0.2375
Weighted-average shares used to compute earnings per common share:
Basic 91.0 91.5
Diluted 91.8 92.3
9
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1) Three Months Ended
March 31,
2023 2022
Cost of sales:
Restructuring costs, including accelerated depreciation $ (6.6) $ (4.4)
Environmental remediation costs (1.4) (2.0)
Reimbursement of previously incurred environmental costs — 0.6
Impact on cost of sales (8.0) (5.8)
Selling and administrative expense:
Restructuring, legal and other (15.7) 1.9
Acquisition related costs (3.4) (2.9)
Impact on selling and administrative expense (19.1) (1.0)
Impact on operating income (27.1) (6.8)
Other income (loss), net (0.2) 0.1
Impact on income from continuing operations before income taxes (27.3) (6.7)
Income tax expense (benefit) on above special items 6.9 1.8
Tax adjustments(2) (1.9) (1.5)
Impact of special items on net income from continuing operations $ (22.3) $ (6.4)
Diluted earnings per common share impact $ (0.24) $ (0.07)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.8 92.3
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation
costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where
such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring
items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results
Three Months Ended
March 31,
2023 2022
Sales:
Color, Additives and Inks $ 537.0 $ 649.5
Specialty Engineered Materials 309.7 243.1
Corporate (1.0) (0.4)
Sales $ 845.7 $ 892.2
Gross margin:
Color, Additives and Inks $ 162.0 $ 192.1
Specialty Engineered Materials 93.9 68.4
Corporate (8.3) (6.1)
Gross margin $ 247.6 $ 254.4
Selling and administrative expense:
Color, Additives and Inks $ 96.4 $ 97.6
Specialty Engineered Materials 50.8 30.1
Corporate 43.3 24.5
Selling and administrative expense $ 190.5 $ 152.2
Operating income:
Color, Additives and Inks $ 65.6 $ 94.5
Specialty Engineered Materials 43.1 38.3
Corporate (51.6) (30.6)
Operating income $ 57.1 $ 102.2
Depreciation & amortization:
Color, Additives and Inks $ 25.8 $ 26.0
Specialty Engineered Materials 21.2 7.8
Corporate 3.5 3.8
Depreciation & Amortization $ 50.5 $ 37.6
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 91.4 $ 120.5
Specialty Engineered Materials 64.3 46.1
Corporate (48.1) (26.8)
Other income (expense), net 0.7 (0.6)
EBITDA $ 108.3 $ 139.2
13
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current profitability
levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/2024-03/AVNT February IR Presentation_w_Non-GAAP Recs_v2.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization
expense associated with intangible assets.
3
AVIENT OVERVIEW
OUR VISION: Creating specialized and sustainable materials solutions that transform customer challenges into opportunities, bringing new products to life for a better world
2023 Financial ResultsCompany Overview Revenue By:
9,300
Employees
102
Manufacturing
Sites
20,000+
Customers
Key Highlights
Premier formulator of specialized
and sustainable materials solutions
Asset-light business model, with
flexibility to adapt to customer needs
Best-in-class technology and service
(140+ PhDs / 2,500+ patents)
History of transformation through
successful M&A while consistently
returning cash to shareholders
Poised for continued future growth in
excess of GDP
$3.14B
Revenue
$2.36
$502M
Adjusted EBITDA
16.0%
Adjusted EBITDA Margins
$186M
Adjusted Free Cash Flow
Over $1B in share
buybacks since 2011
Raised dividend for
13 consecutive years,
a 15% CAGR since
2011
U.S. &
Canada
64%
Specialty
Engineered
Materials
Color
Additives
and Inks
23%
10% 5% 4%
Building &
Energy Telecom
Geography
Segment
Industry
4
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
1. 6% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
PY
$790
$719
$107
$114
Sales Adjusted EBITDA
$0.42
$0.52
- 9% + 7% + 24%
Sales Adjusted EBITDA Adjusted EPS
15
Q4 2023 SEGMENT PERFORMANCE
16
CAI
$491
$459
Sales
$70
$84
SEM
$301
$260
Sales
$55
$49
- 7% - 14%+20% - 11%
Q4 EBITDA BRIDGE
17
$ millions
CAI:
Price / Mix 11
Deflation 14
SEM:
Price / Mix 4
Deflation 9
Net Price Benefit 38
Cost Reductions 13
Wage Inflation (8)
Other (2)
Q4 2023 $114
Adjusted
Q4 2022 $ 107
Demand (34) • Demand was down, but less than in previous
quarters, due to slowing pace of destocking
• Positive net price benefit:
o CAI – Pricing flat with favorable mix from
uptick in packaging and consumer end
markets and raw material deflation
o SEM - Pricing flat with favorable mix from
Composites and raw material deflation
• Cost reductions primarily driven by reduced
administrative costs and cost synergies
2024 G U I DAN CE
2024 GUIDANCE
Full Year 2024 Guidance
Adjusted EBITDA $505 to $535 million
Adjusted EPS $2.40 to $2.65
Interest Expense $105 to $110 million
Adjusted Effective Tax Rate 23% to 25%
Capital Expenditures ~$140 million
19
Q1 Adjusted EPS of $0.68
AP P E N DI X
21
Performance
Additives
15%
Pigments
TiO2
Dyestuffs
Polyethylene
10%Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
38%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
RAW MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
2023 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
23%Industrial
Building and
END MARKET REVENUE
$2,007M $358M
$1,138M $224M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$502M$3,143M
(1)
23
(1) Total company sales and adjusted EBITDA of $3,143M and $502M, respectively, include intercompany sales eliminations and corporate costs
2023 REVENUE | $2 .0 BILLION
34%
37%
21%
END MARKET REGION
24
34%
21%
15%
Building &
1% Energy
COLOR, ADDITIVES & INKS
2023 REVENUE | $1 .1 BILLION
52%
35%
25
6%Industrial
12%
10% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
26%
Building &
6%
2% Defense
1%
(18% of sales)
2023 AVIENT REGIONAL SALES
25%
Building &
(36% of sales)Transportation
22%
Building &
12%
6%
US &
Canada
(41% of sales)
59%
22%
Building &
LATAM
(5% of sales)
26
BY END MARKET
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
Free Cash Flow Calculation December 31, 2023
Cash provided by operating activities $ 201.6
Taxes paid on gain on sale of business 104.1
Adjusted cash provided by operating activities $ 305.7
Capital expenditures $ (119.4)
Free cash flow $ 186.3
Three Months Ended
Year Ended
2023 2022 2023 2022
Sales:
Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0
Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4
Corporate (0.2) (1.2) (2.8) (2.5)
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Operating income:
Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0
Specialty Engineered Materials 29.4 35.2 142.5 140.1
Corporate (48.1) (79.1) (205.6) (197.8)
Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3
Other expense, net: $ 4.3 $ (28.4) $ 5.8 $ (59.7)
Depreciation & amortization:
Color, Additives and Inks $ 22.2 $ 25.2 $ 98.3 $ 101.3
Specialty Engineered Materials 19.8 20.3 81.5 48.7
Corporate 2.2 3.1 9.0 12.5
Depreciation & amortization $ 44.2 $ 48.6 $ 188.8 $ 162.5
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 84.0 $ 69.5 $ 358.2 $ 402.3
Specialty Engineered Materials 49.2 55.5 224.0 188.8
Corporate (45.9) (76.0) (196.6) (185.3)
Other expense, net $ 4.3 $ (28.4) $ 5.8 $ (59.7)
EBITDA $ 91.6 $ 20.6 $ 391.4 $ 346.1
Special items in EBITDA 22.3 86.8 110.4 162.5
EBITDA - excluding special items $ 113.9 $ 107.4 $ 501.8 $ 508.6
APM pro forma adjustments - 8 months 2022* — — — 83.1
Pro forma EBITDA $ 113.9 $ 107.4 $ 501.8 $ 591.7
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
3
AVNT February IR Presentation_w_Non-GAAP Recs.pdf
AVNT February IR Presentation.pdf
Avient corporation�investor presentation
DISCLAIMER
Slide Number 3
Creating a world-class�sustainable organization
Top-tier sustainability performance�and recognition
Slide Number 6
Slide Number 7
Portfolio transformation
Slide Number 9
END MARKET observations�(% of company sales)
Regional observations�(% of company sales)
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
Slide Number 22
2023 segment, end market and Geography
Color, Additives & Inks
Specialty Engineered Materials
Slide Number 26
AVNT Q4 2023 Earnings Presentation.pdf
AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf
IR Deck - AVNT-2023.12.31 (2.12.24 9PM Milestone February 12 0905 pm).pdf
Attachment
3.26.24 - Public Lender Presentation Non-GAAP Attachments (005).pdf
https://www.avient.com/knowledge-base/case-study/reduce-carbon-footprint-replacing-traditional-materials?rtype[]=1124
Avient developed a technology suite that uses specialty engineered polyketone (PK) thermoplastics and helps our customers meet their goals to lower the carbon footprint of their products versus traditional materials, like PA66 and PA6.