https://www.avient.com/sites/default/files/2024-12/Say-Eng Lee Bio.pdf
SAY-ENG LEE
Vice President & General Manager of Color, Additives & Inks Asia
Say-Eng Lee is Vice President and General Manager for the Color, Additives & Inks
business for the Asia region for Avient Corporation, an innovator of materials solutions that
help customers succeed while enabling a sustainable world.
Lee joined Avient in 2000 as the General Manager for the Color, Additives & Inks
business for Asia.
https://www.avient.com/sites/default/files/2021-05/say-eng-lee.pdf
Say-Eng Lee
Vice President & General Manager, Color, Additives & Inks Asia
Say-Eng Lee is vice president and general manager for the Color, Additives & Inks
business for the Asia region for Avient Corporation, a premier provider of specialized and
sustainable material solutions and services.
Lee joined Avient in 2000 as the general manager for the Color, Additives & Inks
business for Asia.
https://www.avient.com/sites/default/files/resources/PolyOne%2520Investor%2520Day%2520Presentation%2520NonGAAP%2520Reconciliation%2520-%2520May%252016%252C%25202012.pdf
Platform operating income mix percentage 2005Y 2008Y 2011Y
Global Specialty Engineered Materials $ 0.4 $ 17.6 $ 45.9
Global Color, Additives and Inks 4.3 28.1 43.4
Specialty Platform $ 4.7 $ 45.7 $ 89.3
Performance Products and Solutions 75.7 31.3 62.4
Distribution 19.5 28.1 56.0
SunBelt Joint Venture 91.9 28.6 5.0
Corporate (51.5) (425.1) 20.3
Operating income (loss) GAAP $ 140.3 $ (291.4) $ 233.0
Less: Corporate operating expense (income) 51.5 425.1 (20.3)
Operating income excluding Corporate $ 191.8 $ 133.7 $ 212.7
Specialty platform operating mix percentage 2% 34% 42%
Pro forma platform operating income mix percentage
2007
Pro forma
2011Y
Specialty Platform $ 30.6 $ 89.3
Pro forma ColorMatrix - 27.7
Specialty Platform pro forma ColorMatrix $ 30.6 $ 117.0
Performance Products and Solutions 65.8 62.4
Distribution 22.1 56.0
SunBelt Joint Venture 34.8 5.0
Corporate (73.3) 20.3
Operating income pro forma ColorMatrix $ 80.0 $ 260.7
Less: Corporate and SunBelt operating income 73.3 (25.3)
Operating income excluding Corporate operating income $ 153.3 $ 235.4
Specialty platform operating mix percentage 20% 50%
Adjusted EPS 2006Y 2007Y 2008Y 2009Y 2010Y 2011Y
Net Income $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 162.6 $ 172.6
SunBelt and OxyVinyls equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7)
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5)
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3)
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 75.4 $ 96.1
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.79 $ 1.02
Adjusted EPS Q1 2011 Q1 2012
Net Income $ 110.2 $ 20.2
SunBelt equity earnings, after tax (3.7) -
Special items, after tax (79.8) 6.1
Tax adjustments (1.5) 0.1
Adjusted net income $ 25.2 $ 26.4
Diluted shares 96.4 90.7
Adjusted EPS $ 0.26 $ 0.29
Platform sales and operating income (OI) 2005 2006 2007 2008 2009 2010 2011
Global Specialty Engineered Materials Sales $ 282.5 $ 345.3 $ 384.4 $ 514.0 $ 402.9 $ 517.4 $ 575.1
Global Color, Additives and Inks Sales 503.7 531.8 560.5 554.3 459.8 527.4 544.6
Specialty Platform Sales $ 786.2 $ 877.1 $ 944.9 $ 1,068.3 $ 862.7 $ 1,044.8 $ 1,119.7
Performance Products and Solutions Sales 1,136.3 1,166.2 1,086.8 1,001.4 667.7 776.3 865.4
PolyOne Distribution Sales 679.2 732.8 744.3 796.7 625.1 911.9 996.5
Corporate and Eliminations (151.1) (153.7) (133.3) (127.7) (94.8) (111.1) (118.1)
Total Sales $ 2,450.6 $ 2,622.4 $ 2,642.7 $ 2,738.7 $ 2,060.7 $ 2,621.9 $ 2,863.5
Pro forma ColorMatrix Sales 196.0
Total sales pro forma ColorMatrix $ 3,059.5
Global Specialty Engineered Materials OI $ 0.4 $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9
Global Color, Additives and Inks OI 4.3 8.9 25.7 28.1 25.2 37.7 43.4
Specialty Platform OI $ 4.7 $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3
Performance Products and Solutions OI 75.7 64.2 65.8 31.3 33.1 54.0 62.4
PolyOne Distribution OI 19.5 19.2 22.1 28.1 24.8 42.0 56.0
Sunbelt Joint Venture OI 91.9 102.9 34.8 28.6 25.5 18.9 5.0
Corporate and eliminations (21.8) (4.6) (25.5) (28.9) (40.8) (32.5) (26.4)
Special items (29.7) 39.1 (47.8) (396.2) 48.7 4.8 46.7
Operating income (loss) GAAP $ 140.3 $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0
Sunbelt equity income (72.5) (107.0) (40.8) (32.5) (29.7) (23.1) (5.7)
Special items 29.7 (39.1) 47.8 396.2 (48.7) (4.8) (46.7)
Operating income adjusted $ 97.5 $ 87.5 $ 87.0 $ 72.3 $ 58.7 $ 146.7 $ 180.6
Operating income pro forma ColorMatrix 27.7
Operating income adjusted pro forma ColorMatrix
$ 208.3
Global Specialty Engineered Materials - OI as a
percentage of sales 0.1% 1.1% 1.3% 3.4% 5.1%
9.6%
8.0%
Global Color, Additives and Inks - OI as a
percentage of sales 0.9% 1.7% 4.6% 5.1% 5.5%
7.1%
8.0%
Specialty platform OI as a percentage of sales 0.6% 1.5% 3.2% 4.3% 5.3% 8.4% 8.0%
Specialty platform OI as a percentage of sales -
pro forma ColorMatrix
8.9%
Global Color, Additives and Inks OI as a
percentage of sales – pro forma ColorMatrix
9.6%
PP&S operating OI as a percentage of sales 6.7% 5.5% 6.1% 3.1% 5.0% 7.0% 7.2%
Distribution OI as a percentage of sales 2.9% 2.6% 3.0% 3.5% 4.0% 4.6% 5.6%
PolyOne OI adjusted, as a percentage of sales 4.0% 3.3% 3.3% 2.6% 2.8% 5.6% 6.3%
PolyOne OI adjusted, pro forma for ColorMatrix,
as a percent of sales
6.8%
Operating income (OI) Q1 2011 Q1 2012
Global Specialty Engineered Materials OI $ 14.0 $ 11.8
Global Color, Additives and Inks OI 11.2 17.3
Specialty Platform OI $ 25.2 $ 29.1
Performance Products and Solutions OI 14.3 17.8
PolyOne Distribution OI 14.7 16.7
Corporate and eliminations (1.6) (10.2)
Special items 127.2 (8.5)
Operating income (loss) GAAP $ 179.8 $ 44.9
Research and Development (R&D) – Pro forma ColorMatrix 2011
PolyOne R&D $ 36.9
ColorMatrix R&D 3.6
Pro forma R&D $ 40.5
Gross Margin as a percentage of Sales
2006 2011
2011
Pro forma
ColorMatrix
Specialty platform sales $ 877.1 $ 1,119.7 $ 1,315.7
Specialty platform gross margin 125.2 263.4 345.9
Specialty platform gross margin percentage 14.3 % 23.5 % 26.3 %
Average Debt Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Average
PolyOne Debt $ 452.9 $ 432.9 $ 432.9 $ 432.9 $ 707.0 n/a
Pro forma ColorMatrix 274.1 274.1 274.1 274.1 - n/a
Total Debt $ 727.0 $ 707.0 $ 707.0 $ 707.0 $ 707.0 $ 711.0
Average Equity Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Average
PolyOne $ 516.0 $ 615.2 $ 629.6 $ 608.5 $ 588.3 $ 591.5
https://www.avient.com/sites/default/files/2022-02/AVNT Q4 2021 Earnings Presentation_0.pdf
Whether
an additional line at an existing
manufacturing plant, or a new
facility in a growing region, we
ramp-up quickly and cost-efficiently.
26
Capex / Revenue
2022E (%)
AVIENT IS ASSET LIGHT
Avient Specialty
Other
7 7
(
xc
l.
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/2021-10/avnt-q3-2021-news-release.pdf
In addition, a recording of the audio will be available for one week, beginning at 11:00 a.m.
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021 2020 2021 2020
Sales:
Color, Additives and Inks $ 586.6 $ 493.8 $ 1,820.3 $ 977.1
Specialty Engineered Materials 233.6 174.1 690.7 518.2
Distribution 438.8 276.9 1,205.9 805.2
Corporate and eliminations (39.2) (20.3) (99.6) (55.4)
Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 2,245.1
Gross margin:
Color, Additives and Inks $ 172.1 $ 155.0 $ 563.0 $ 320.1
Specialty Engineered Materials 63.1 53.4 197.4 148.5
Distribution 39.9 30.8 119.3 91.6
Corporate and eliminations (19.7) (29.0) (33.2) (28.8)
Gross margin $ 255.4 $ 210.2 $ 846.5 $ 531.4
Selling and administrative expense:
Color, Additives and Inks $ 105.3 $ 104.5 $ 321.1 $ 196.8
Specialty Engineered Materials 31.4 28.7 94.2 84.5
Distribution 16.1 13.3 47.8 40.1
Corporate and eliminations 23.9 30.2 76.2 85.7
Selling and administrative expense $ 176.7 $ 176.7 $ 539.3 $ 407.1
Operating income:
Color, Additives and Inks $ 66.8 $ 50.5 $ 241.9 $ 123.3
Specialty Engineered Materials 31.7 24.7 103.2 64.0
Distribution 23.8 17.5 71.5 51.5
Corporate and eliminations (43.6) (59.2) (109.4) (114.5)
Operating income $ 78.7 $ 33.5 $ 307.2 $ 124.3
Earnings before interest, taxes, depreciation and
amortization (EBITDA):
Color, Additives and Inks $ 93.4 $ 76.8 $ 321.1 $ 171.3
Specialty Engineered Materials 39.6 32.2 127.0 86.7
Distribution 24.0 17.7 72.1 51.9
Corporate and eliminations (41.5) (56.7) (105.3) (108.3)
Other income, net 1.4 1.5 4.1 12.6
EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2
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.
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/2020-08/maxxam-polyolefins-formualtions-case-study.pdf
Avient engineered a new customized formulation for the
part, which provided both the processability required
for extremely short cycle injection-compression
molding, as well as including an additive to stabilize
the material when in contact with copper.
This additive
protects the door from cracking as it comes into contact
with copper particles over time.
In addition, the new material also provides anti-static
properties and low VOC levels, which helps the system
adhere to regulations such as the Vehicle Interior Air
Quality (VIAQ) standard.
https://www.avient.com/sites/default/files/2020-08/silcosperse-ec-product-bulletin.pdf
PRODUCT BULLETIN
1.00E+00
1.00E+02
1.00E+04
1.00E+06
1.00E+08
1.00E+10
1.00E+12
1.00E+14
1.00E+16
1.00E+18
0 10 20 30 40 50 60 70
R
e
si
si
ti
v
it
y
/O
h
m
Silcosperseä EC dosing percentage (%)
CB HCR
SWCNT HCR
SWCNT LSR
MWCNT HCR
aceSurface Resistivity
Silcosperse™ EC Electrically Conductive
Additive Dispersions
Silcosperse™ EC Electrically Conductive additive
dispersions provide varying levels of electrical
conductivity to silicone material.
These functional
additives allow silicone, which is normally an
electrical insulator, to become an anti-static, static
dissipative or fully conductive material, making it
suitable for a variety of uses.
CB is also available as
a European food regulation compliant grade.
0 10 20 30 40 50 60 70
1.00E+18
1.00E+16
1.00E+14
1.00E+12
1.00E+10
1.00E+08
1.00E+06
1.00E+04
1.00E+02
1.00E+00
INSULATIVE
ANTISTAT
DISSIPATIVE
CONDUCTIVE
KEY CHARACTERISTICS
• Delivers a range of properties from
anti-static through conductive
• Achieves greater conductivity levels
with lower loadings in single- and
multi-wall nanotubes
• Anti-static performance available
at lower doses
• Dark color options, such as browns,
blues or reds, available at lower dosages
in single-wall nanotubes
• Suitable for peroxide- or platinum-cured
silicone formulations
MARKETS AND APPLICATIONS
Silcosperse EC Electrically Conductive additive
dispersions are found in a variety of markets,
including transportation, energy, electrical &
electronics, and the films & coatings industry.
https://www.avient.com/sites/default/files/2020-10/fluoropolymer-cable-case-study-.pdf
CABLE MANUFACTURER
REBOUNDS WITH
SPECIALIZED COLOR
AND ADDITIVE
MASTERBATCHES
CASE STUDY: COLORANT CHROMATICS™
Challe
nge Accepted.
Finding suppliers of fluoropolymer color and
additive masterbatches able to meet its standards has
not always been easy.
With the help of Avient’s color design service, the
company was able to develop new product lines that
paved the way for additional revenue from new and
existing customers.
https://www.avient.com/sites/default/files/2024-12/2024 Shooting Sports Selection Guide.pdf
OUTDOOR
HIGH PERFORMANCE
SHOOTING SPORTS
PRODUCT SELECTION GUIDE
ENGINEERED POLYMER FORMULATIONS THERMOPLASTIC
ELASTOMERS COLORANTS ADDITIVES ADVANCED COMPOSITES
FIREARMS
Stocks, Frames,
Receivers, & Barrels
• Wood grain
• Warp reduction
• Weight reduction
• Anti-counterfeiting additive
• Ceramic/carbon fiber composites
Handguards, Forearms,
Picatinny Rails, Holsters,
& Magazine
• Specialty color, pre-colored material
• Wood grain
• Warp reduction
• Weight reduction
• Anti-counterfeiting additive
Recoil Pads • Vibration damping
• Ultra soft
Grips
• Overmolding-compatible polymers
• Vibration damping
ARCHERY
Limbs & Risers
• Laser marking • Carbon/glass composite
billets, bars, & laminates
Stabilizers &
Accessories
• Ultra soft
• Carbon/glass composite
bars, rods, & tubes
PROJECTILES
Bullets
• Lead replacement engineered formulations
• Density-modified formulations
• Thermoplastic urethanes • Ballistic tip fluorescent
Shotgun Shells,
Wads, & Buffers
• Polyethylene • Biodegradable custom colors • Performance improving
additives
Arrows • Structurally reinforced polymers • Soft touch • Pre-colored materials
• Carbon/glass composite
rods & tubes
SAFETY
Ballistic Panels • Composite ballistic
resistant panels
SHOOTING
SPORTS
Your customers want a product
that will help them hit the mark
every time.
https://www.avient.com/sites/default/files/resources/Credit%2520Suisse%2520June%252026%25202013.pdf
In addition, operating income
before special items and adjusted EPS are components of various PolyOne
annual and long-term employee incentive plans
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.
Average Debt Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average
PolyOne Debt $ 706.4 $ 705.8 $ 705.2 $ 706.9 $ 1055.5 $ 776.0
Average Equity Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average
PolyOne shareholders’ equity $ 611.3 $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 669.2
Platform sales and operating income (OI) 2012Y* 2012PF** Q1 2013
Global Specialty Engineered Materials Sales $ 543.6 $ 773.0 $ 159.8
Global Color, Additives and Inks Sales 703.5 828.5 205.3
Designed Structures & Solutions -- 850.6 41.5
Specialty Platform Sales $ 1,247.1 2,452.1 406.6
Performance Products and Solutions Sales 837.0 696.1 159.7
PolyOne Distribution Sales 1,030.3 1,030.3 268.0
Corporate and Eliminations (121.8) (121.6) (33.2)
Total Sales $ 2,992.6 $ 4,056.9 $ 801.1
Global Specialty Engineered Materials OI $ 47.0 $ 47.7 $ 16.2
Global Color, Additives and Inks OI 66.8 81.6 24.1
Designed Structures & Solutions -- 20.9 1.9
Specialty Platform OI $ 113.8 $ 150.2 $ 42.2
Performance Products and Solutions OI 74.9 37.4 13.0
PolyOne Distribution OI 66.0 66.0 16.2
Corporate and eliminations (33.7) (40.0) (14.3)
Special items in OI (53.9) (53.9) (16.6)
Operating income - GAAP $ 167.1 $ 159.7 $ 40.5
Special items in OI 53.9 53.9 16.6
Operating income adjusted $ 221.0 $ 213.6 $ 57.1
Global Specialty Engineered Materials - OI % of
sales
8.6% 6.1% 10.1%
Global Color, Additives and Inks - OI % of sales 9.5% 9.8% 11.7%
Designed Structures & Solutions -- 2.5% 4.6%
Specialty platform OI % of sales 9.1% 6.1% 10.4%
PP&S operating OI % of sales 9.0% 5.4% 8.1%
Distribution OI % of sales 6.4% 6.4% 6.0%
PolyOne OI adjusted, % of sales 7.4% 5.3% 7.1%
PolyOne Investor Presentation�Credit Suisse Boston Basic Materials Conference ��June 26, 2013�
Forward – Looking Statements
Use of Non GAAP Measures
Strategy and Execution Drive Results – Since 2006:
Four Pillar Strategy
2013 Portfolio Transformation Highlights
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Proof of Performance & 2015 Goals
Innovation Drives Earnings Growth
We are Experts in Polymer Science and Formulation
Positioned for Strong Growth
First Quarter Financial Highlights
Debt Maturities & Liquidity Summary – 3/31/13
Use of Cash
Why Invest In PolyOne?