https://www.avient.com/sites/default/files/2023-03/Avient Annual Report 2022.pdf
Additional information related to the accounting for environmental liabilities is found in Note 12.
Refer to Note 12, Commitments and Contingencies,
for further information.
ITEM 12.
https://www.avient.com/sites/default/files/2020-03/polyone-2019-annual-report.pdf
We achieved $1.69
of adjusted earnings per share, a 12% increase over 2018.
Of particular note, our high-strength composites that enable lightweighting and
barrier additives that reduce material requirements and increase shelf life both
performed exceptionally well.
In prior years, we’ve installed
rooft op solar panels and windmills to off set energy
demand, and we plan to continue those practices
going forward.
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Presentation.pdf
GUIDANCE
DEBT / LEVERAGE REDUCTION
• Completed sale of Distribution
and paid down $750M of debt
in November
• Strong free cash flow in fourth
quarter reduced leverage and
enabled paydown of additional
$200M of debt
• Fixed/Floating Debt Ratio 63/37
• Proven track record of
deleveraging following
acquisitions through consistent
free cash flow generation
$725 $725 $725
$575 $500 $400
$600
$525
$425
$650
$650
$650
$600
$2.40B
$2.20B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
After Distribution
Divestiture
Year-End
Year-End
Leverage 3.8x 3.1x 2.9x
2023 Notes
After Avient
Protective Materials
Acquisition
$3.15B
2022 TRANSFORMATIONAL PORTFOLIO
ENHANCEMENTS
5
EBITDA margins expanded
from 12% to 16%
Diversified end markets
with reduced exposure to
more cyclical industries
Dyneema®
Acquisition
$1.48B acquisition
strengthens composites
platform
Significantly improved
EBITDA margins $950M divestiture results
in 100% specialty sales
Strong exit multiple of 10x
TTM EBITDA despite
market volatility
Distribution
Divestiture
Improved
Portfolio
GROWING COMPOSITES PLATFORM
CONTRIBUTIONS TO SEM SEGMENT
6
Note: 2022 is pro forma for Avient Protective Materials
2016 Sales 2022 Sales
Advanced
Composites
51%
$560M $1,300M
Advanced
Composites
COMPOSITES PORTFOLIO
D Y N E E M A ® E X P A N D S O U R E N G I N E E R E D F I B E R S A N D T A P E S T E C H N O L O G Y
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
7
ADVANCED COMPOSITES PERFORMANCE
8 (1) Pro forma for the acquisition of Avient Protective Materials
$51
$84
$212
$668
$4
$10
$41
$169
(1) (1)
PORTFOLIO EVOLUTION AND EPS EXPANSION
9
Adj.
$600 $592
$3.02 $3.04
FULL YEAR 2022 PERFORMANCE
(TOTAL COMPANY PRO FORMA)
15
Sales Adjusted EBITDA
$3,712 $3,653
-2%
Adjusted EPS
-1% + 1%
(in millions) (in millions)
(+4% excluding FX) (+5% excluding FX) (+9% excluding FX)
FULL YEAR 2022 SEGMENT PERFORMANCE
16
CAI
$2,402 $2,355
$409 $402
SEM Pro Forma
$1,308 $1,300
$278 $272
(+4% excluding FX)
- 2% -1%
(+5% excluding FX)
- 2%
(+4% excluding FX)
- 2%
(+2% excluding FX)
PRO FORMA FULL YEAR EPS BRIDGE
17
Pro Forma 2021 Adjusted EPS 3.02$
Foreign Currency (0.23)
Russia Import Sales (0.07)
Outdoor High Performance (0.13)
Color, Additives and Inks 0.18
Specialty Engineered Materials 0.24
Corporate Costs / Other 0.03
Pro Forma 2022 Adjusted EPS 3.04$
FULL YEAR EBITDA BRIDGE
(PRO FORMA TOTAL COMPANY)
18
$ millions
CAI:
Price / Mix 247
Inflation (176)
SEM:
Price / Mix 121
Inflation (77)
Net Price Benefit 115
Wage and Energy Inflation (47)
Clariant Color Integration Synergies 23
Incentives, Other Employee Costs 43
FX (34)
Full Year 2022 $592
Adjusted
Full Year 2021 $ 600
Demand (99)
Russia Import Sales (9) • Demand primarily impacted
by China lockdowns, 4th
quarter industrywide
destocking and declining
consumer sentiment
• Pricing outpaced inflation of
raw materials, wages and
energy
2023 G U IDA N CE
$125
$530
$0.55
$2.40
2023 GUIDANCE
20
Sales Adjusted EBITDA
$845
$3,450
Adjusted EPS
(in millions) (in millions)
CASH FLOW / BALANCE SHEET
21
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability, primarily
in Europe
($ millions) 2023E
Cash Flow from Operating Activities 350$
Less:
Run-Rate CapEx (110)
CapEx for IT System Upgrade (25)
CapEx for Restructuring (15)
Total CapEx (150)
Free Cash Flow 200$
Adjusted EBITDA 530$
Net Debt / Adjusted EBITDA 2.9x
K E Y G R O W T H D R I V E R S
A N D T R A N S F O R M E D
P O R T F O L I O
GROWTH DRIVERS: PROVEN SUCCESS
23 (1) Pro forma for the acquisition of Avient Protective Materials (APM)
COMPOSITES
$51
$84
$212
$668
HEALTHCARE
$108 $113
$231
$293
8-10%
ASIA/EMERGING REGIONS
$265
$358
$726
$830
12%
$340
$455
$790
$1,175
SUSTAINABLE SOLUTIONS
8-12%
(1) (1)(1)
(Sales in $ millions)
#1 Color Formulator
Dyneema® - World’s Strongest
Fiber™
#1 in Composites applications
for outdoor high performance
#1 in Performance Inks
Customized solutions
140+ PhDs on staff
Rapid development of
innovative products
Extensive patent (2,500+)
portfolio
33% Vitality Index
Better-positioned toward stable,
high-growth end markets
Consumer, packaging,
healthcare and defense comprise
nearly 60% of sales
Agnostic to raw materials,
helping all customers achieve their
goals
Broad portfolio of diversified
sustainable solutions
90%+ of our innovation pipeline
invested in sustainable solutions
Long-term growth rate well
above GDP with expectations of
8-12%
LEVERAGING OUR TRANSFORMED PORTFOLIO
24
Building &
4% Telecom.
2022 PF
$3.65B
sales
Leading Positions Sustainable SolutionsDiversified IndustriesSpecialty Formulator
(1) 2022 Pro forma for the acquisition of Avient Protective Materials
(2) 2020 Pro forma for the acquisition of Clariant Color
(1)(2)
$340M
$455M
$790M
2016 2018 2020PF 2022PF
$1,175M
P EE R C O M PAR IS O N S
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,450 and estimated run-rate CAPEX of $110M.
27
2
4 4
5 5 5
6
7 7
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Avient Specialty
Other Specialty /
2023E(%)
28
79
87
81 79
76
73
90
77 76 75 73
64
59
33
MULTIPLE EXPANSION
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 adjusted EBITDA guidance of $530M and closing share price of $38.89.
https://www.avient.com/resources/safety-data-sheets?page=3984
Note: SDS access methods vary by region - please read the instructions for your region carefully.
Material or Material Number) has either 12 or 14 characters.
Note: SDS access methods vary by region - please read the instructions for your region carefully.
https://www.avient.com/resources/safety-data-sheets?page=4006
Note: SDS access methods vary by region - please read the instructions for your region carefully.
Material or Material Number) has either 12 or 14 characters.
Note: SDS access methods vary by region - please read the instructions for your region carefully.
https://www.avient.com/resources/safety-data-sheets?page=4329
Note: SDS access methods vary by region - please read the instructions for your region carefully.
Material or Material Number) has either 12 or 14 characters.
Note: SDS access methods vary by region - please read the instructions for your region carefully.
https://www.avient.com/resources/safety-data-sheets?page=570
Note: SDS access methods vary by region - please read the instructions for your region carefully.
Material or Material Number) has either 12 or 14 characters.
Note: SDS access methods vary by region - please read the instructions for your region carefully.
https://www.avient.com/resources/safety-data-sheets?page=1875
Note: SDS access methods vary by region - please read the instructions for your region carefully.
Material or Material Number) has either 12 or 14 characters.
Note: SDS access methods vary by region - please read the instructions for your region carefully.
https://www.avient.com/sites/default/files/2021-08/20210802-business-profile.pdf
: 14/12/1990
Company Type : PRIVATE COMPANY LIMITED BY SHARES
Status : Live Company
Status Date : 14/12/1990
Principal Activities
Activities (I) WHOLESALE TRADE OF A VARIETY OF GOODS WITHOUT A DOMINANT PRODUCT
(46900)
: IMPORT/EXPORT AND SALES OF POLYMERS Description
: Activities (II)
: Description
Capital
CurrencyIssued Share Capital Share TypeNumber of Shares *
(AMOUNT)
694600 SINGAPORE, DOLLARS ORDINARY694600
7200000 UNITED STATES OF AMERICA, DOLLARS ORDINARY7200000
* Number of Shares includes number of Treasury Shares
CurrencyPaid-Up Capital Share TypeNumber of Shares
(AMOUNT)
694600 SINGAPORE, DOLLARS ORDINARY
7200000 UNITED STATES OF AMERICA, DOLLARS ORDINARY
Page 1 of 4
Number Of Shares Currency
COMPANY HAS THE FOLLOWING ORDINARY SHARES HELD AS TREASURY SHARES
Registered Office Address 3 INTERNATIONAL BUSINESS PARK
#04-14/15
NORDIC EUROPEAN CENTRE
SINGAPORE (609927)
Date of Address 16/08/2020:
Date of Last AGM : 29/08/2020
Date of Last AR : 26/10/2020
FYE As At Date of Last AR : 31/12/2019
Audit Firms
NAME
ERNST & YOUNG LLP
Amount Secured Chargee(s)
Charges
CurrencyCharge No.
Date Registered
ID
Officers/Authorised Representative(s)
Position Held
Nationality/CitizenshipName
Date of Appointment
XU TAO EB6238077 CHINESE 30/06/2021ACRA
DirectorROOM 102, BUILDING 20, SUB LANE 7, LANE
888, LUOJIN ROAD
SHANGHAI, 201104, CHINA
CHAN BAI RONG S8534833G SINGAPORE CITIZEN 30/06/2021ACRA
Director10A BENDEMEER ROAD
#26-103
BENDEMEER LIGHT
SINGAPORE (331010)
LEE SAY ENG A52290094 MALAYSIAN 30/06/2021ACRA
Page 2 of 4
ID
Officers/Authorised Representative(s)
Position Held
Nationality/CitizenshipName
Date of Appointment
Director168 JINAN ROAD, BUILDING 10, ROOM 802,
SHANGHAI
CHINA 200021
CHAN LAI YIN S7480587F MALAYSIAN 28/06/2010ACRA
Secretary26 SIMEI STREET 1
#11-08
MELVILLE PARK
SINGAPORE (529947)
LEE WEI HSIUNG S7927166G SINGAPORE CITIZEN 01/12/2009ACRA
Secretary633 JURONG WEST STREET 65
#10-310
SINGAPORE (640633)
Shareholder(s)
Name
ID Nationality/Citizenship
Place of incorporation/
Origin/Registration
Address Changed
AVIENT CORPORATION T05UF0103G UNITED STATES OF AMERICA ACRA1
33587 WALKER ROAD, AVON LAKE,
OHIO 44012,
UNITED STATES OF AMERICA
Ordinary(Number) Currency
694600 SINGAPORE, DOLLARS
Ordinary(Number) Currency
7200000 UNITED STATES OF AMERICA, DOLLARS
Page 3 of 4
Abbreviation
UL - Local Entity not registered with ACRA
UF - Foreign Entity not registered with ACRA
AR - Annual Return
AGM - Annual General Meeting
FS - Financial Statements
OSCARS - One Stop Change of Address Reporting Service by Immigration & Checkpoint Authority.
FYE - Financial Year End
Note :
- The information contained in this product is collated from lodgements filed with ACRA, and/or information collected by other government sources
https://www.avient.com/news/avient-earns-luxe-pack-green-award-sustainability-initiative