https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
Purchase price multiple rapidly declining on strength of
business and synergy capture
7
$133
$201
2019PF 2022E
7
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.4x
2019PF 2021 2022E w/ Full
Synergies
11.9%
16.3%
2019PF 2022E
EBITDA Margins
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
(1) Financial information is pro forma to include a full year of Clariant Color business
SUNBELT PVC Resins DSS
20 Acquisitions
$4.8B Investment
$2.7B of Annual
Revenue
5 Divestments
$2.3B Proceeds
TPE
PP&S
HISTORIC SPECIALIZATION THROUGH M&A
8
Distribution
DSM Protective
Materials
BOLT-ON ACQUISITION HISTORY
9
Commercial
Resources
Operating Income
Operating Margins
259
363
$40
$139
Established Acquisitions
(> 7 years)
+ 40% + 248% + 1300 bps
I N V E S T T O G R O W
SPECIALTY TRANSFORMATION
T O D A Y
46%
67%
86%
100%
0%
60%
80%
100%
2005 2010 2019 2021 2022 PF
%
o
f A
d
ju
st
ed
E
B
IT
D
A
• Commodity JVs
• Distribution
• Performance Products & Solutions
• Specialty Businesses
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and divestiture of Distribution
(1
)
(2)
10
Building &
43%
14%
Telecom.
2%
2006 2022 Pro Forma
21%
Building &
Telecom.
END MARKET FOCUS ON LESS CYCLICAL
INDUSTRIES
11
14.8%
17.6%
21.0%
2018 2020 2022 PF
1.8%
2006
15.3%
16.2%
17.0%
2018PF 2020PF 2022E
CAI
2.7%
2006
SEM
SPECIALTY EBITDA MARGIN EXPANSION
12
• Portfolio transformation
accelerates growth in less
cyclical, higher margin end
markets
• Investments in our
composites platform
continue to drive margin
expansion
(1) (1)
(1) 2018 and 2020 financial information is pro forma to include a full year of Clariant Color acquisition
PORTFOLIO EVOLUTION OVER THE YEARS
13
Adj.
Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has
completed several acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization.
https://www.avient.com/sites/default/files/2025-01/Marine OHP Application Graphic.pdf
Discover advanced
material solutions so you can solve tough challenges
and leave the competition in your wake.
1.844.4AVIENT
avient.com
© 2025, All Rights Reserved
Avient Corporation,
33587 Walker Road,
Avon Lake, Ohio USA 44012
TACTILE EXPERIENCE
Soft Touch Feel, Wet Grip, Durable Performance,
Reduced Heat Transfer
SOLUTION: Thermoplastic Elastomers (TPEs),
UV Blocking Additives, “Cooler to the Touch” Colorants
METAL REPLACEMENT
High Impact Resistance, Durability,
Vibration Damping Properties,
Weight Reduction, Design Flexibility
SOLUTION: Long Glass Fiber Reinforced
Composites, Chemical Foaming Agents
WOOD REPLACEMENT & WEIGHT REDUCTION
Exceptional Strength-to-Weight Ratio, Resistance to Chemicals and Moisture
Degradation, Strong Adhesive Properties for Simplified Installation
SOLUTION: Composite Sandwich Panels, Chemical Foaming Agents,
Wood Plastic Composite (WPC) Technology, Continuous Fiber Reinforced
Thermoplastic Tape & Laminates, Pultruded Composite Profiles
HIGH IMPACT DURABILITY
High Strength Performance,
Localized Reinforcement,
Material Reduction
SOLUTION: Continuous Fiber
Reinforced Thermoplastic
Tape & Laminates
CORROSION &
MOISTURE RESISTANCE
Extended Performance,
Low Moisture Uptake, Durability
SOLUTION: Moisture-Resistant
Long Fiber Reinforced Composites,
Corrosion Resistant Additives,
Composite Sandwich Panels
AESTHETIC APPEAL
Custom Color and Special Effects,
Paint Replacement,
Color Fade Protection
SOLUTION: Custom Polymer
Colorants, UV Blocking Additives,
Antioxidant Additives,
Molded-In-Color Metallics,
Scratch & Mar Additives,
Laser Marking Additives,
Pre-Colored High-Gloss
Thermoplastics
https://www.avient.com
https://www.avient.com/products/thermoplastic-elastomers/versaflex-thermoplastic-elastomers
https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives/cesa-light-additives
https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives/oncolor-wpc-capstock-technology
https://www.avient.com/products/long-fiber-technology/complet-long-glass-fiber
https://www.avient.com/products/long-fiber-technology/complet-long-glass-fiber
https://www.avient.com/products/polymer-additives/foaming-agents
https://www.avient.com/products/advanced-composites/continuous-fiber-composite-panels/hammerhead-marine-composite-panels
https://www.avient.com/products/polymer-additives/foaming-agents
https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives/oncolor-wpc-capstock-technology
https://www.avient.com/products/advanced-composites/pultrusion-and-continuous-filament-winding-technology/glasforms-pultruded-rods-tubes-custom-profiles
https://www.avient.com/products/long-fiber-technology/complet-moisture-resistant-nylons
https://www.avient.com/products/long-fiber-technology/complet-moisture-resistant-nylons
https://www.avient.com/products/polymer-additives/corrosion-resistant-additives/cesa-cor-additives
https://www.avient.com/products/advanced-composites/continuous-fiber-composite-panels/hammerhead-marine-composite-panels
https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-fx-special-effect-colorants
https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-fx-special-effect-colorants
https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives/cesa-light-additives
https://www.avient.com/products/polymer-additives/antioxidant-additives
https://www.avient.com/products/polymer-colorants/color-additive-combination-masterbatches/smartbatch-fx-paint-replacement-0
https://www.avient.com/products/polymer-additives/visual-enhancement-effects/cesa-scratch-mar-resistance-additives
https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-laser-additives
https://www.avient.com/products/engineered-polymer-formulations/general-engineered-formulations/artisan-pre-colored-thermoplastics-premium-finishes
https://www.avient.com/products/engineered-polymer-formulations/general-engineered-formulations/artisan-pre-colored-thermoplastics-premium-finishes
https://www.avient.com/sites/default/files/2024-05/Oncolor Polymer Colorants-Sign board protive tape-case study snapshot_0520.pdf
EXTRUSION FILM
MANUFACTURER
S I G N B O A R D P R O T E C T I V E
T A P E
• Film application with a high concentration of TIO2 (>80%)
• Good performance on light fastness and anti-yellowing
OnColor Polymer Colorants
KEY REQUIREMENTS
WHY AVIENT?
Provided excellent dispersion with highly
concentrated TiO2
• Offered customized solutions to achieve
customer request on TiO2 % @ 80%
• Maintained good light fastness
https://www.avient.com/products/polymer-colorants
Slide 1: EXTRUSION FILM MANUFACTURER
https://www.avient.com/sites/default/files/2020-10/case-study-nymax-rigid-phone-case.pdf
LEADING OUTDOOR
PRODUCTS OEM
P R O T E C T I V E P H O N E C A S E
• Alternative to traditional PC/ABS for improved toughness
and chemical resistance
• Substrate must have improved bondability to a protective
TPE overmold
• Looking for a differentiated “feel”
• Offered a proven expertise in selecting the
right combination of substrate polymer, TPE
for overmolding, and color concentrate for
optimal processing and performance
• Provided custom solution after collaborating
with molders and OEM through on-site trials
and troubleshooting support
• Enabled the customer to expand their
offering for the outdoor consumer market
• Custom Nymax™ PA6 Formulation
KEY REQUIREMENTS
WHY AVIENT?
AVIENT SOLUTION
TOUGHNESS + CUSTOM FORMULATION
LEARN MORE
Copyright © 2020, Avient Corporation.
https://www.avient.com/products/engineered-polymer-formulations/general-engineered-formulations/nymax-bergamid-polymer
https://www.avient.com/sites/default/files/2023-04/Bergamid_ - Air gun bullet casing- Application Snapshot.pdf
AIRGUN BULLET
MANUFACTURER
B U L L E T C A S I N G
• Reduce weight by replacing metal
• Gunpowder free
• Less shooting energy from 100 Joules to 20 Joules
• Delivered a high-impact nylon formulation
with equal performance and 80% less weight
• Enabled improved shooting accuracy due to
the stable coefficient of friction(COF)
• Provided fast technical response and mold
trial support
Bergamid™ Polymer Formulation
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/products/engineered-polymer-formulations/general-engineered-formulations/nymax-bergamid-polymer?
https://www.avient.com/news/avient-extends-cable-lifetime-new-eccoh-lsfoh-grades-industrial-and-telecom-cables
ECCOH 5978 UV formulations combine high flame retardancy (up to CPR class B2ca, s1, a1, d) and good char forming properties with great ESCR.
These formulations also provide excellent UV resistance protecting outdoor/indoor cables from varying weather conditions.
These new formulations can help cable manufacturers meet demand and prolong the life time of their products.”
https://www.avient.com/sites/default/files/AVNT Q1 2023 Earnings Press Release.pdf
Further, as a result of Avient's portfolio shift to a pure play specialty
formulator, it has completed several acquisitions and divestitures which have resulted in a significant amount of intangible asset
amortization.
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/resource-center?document_subtype=0&document_type=59&form_id=resource_filter_form&industry=0&op=FILTER RESULTS&product_family=0&product_name=0&page=24
LubriOne™ Internally Lubricated Formulations for Conveyor Belt Gears - Application Bulletin
Learn how LubriOne™ internally lubricated formulations are an ideal solution for conveyor belt gears
Maxxam™ FR Formulation provided flame retardent and HDPE based solution for power tool battery pack
https://www.avient.com/resource-center?document_type=59&document_subtype=0&industry=0&product_family=0&product_name=0&op=FILTER RESULTS&form_id=resource_filter_form&page=24
LubriOne™ Internally Lubricated Formulations for Conveyor Belt Gears - Application Bulletin
Learn how LubriOne™ internally lubricated formulations are an ideal solution for conveyor belt gears
Maxxam™ FR Formulation provided flame retardent and HDPE based solution for power tool battery pack
https://www.avient.com/resource-center?document_type=59&page=24
LubriOne™ Internally Lubricated Formulations for Conveyor Belt Gears - Application Bulletin
Learn how LubriOne™ internally lubricated formulations are an ideal solution for conveyor belt gears
Maxxam™ FR Formulation provided flame retardent and HDPE based solution for power tool battery pack