https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
It has been over a year since we completed the acquisition of Clariant’s color business and
became Avient – bold moves to help us become the specialty formulator we are today,” said
Robert M.
Reconciliation of Pro Forma Adjusted Earnings per Share:
Nine Months Ended
September 30, 2020
Year Ended
December 31, 2020
Net income from continuing operations attributable to Avient shareholders $ 57.8 $ 132.0
Special items, after tax 42.0 24.8
Adjusted net income from continuing operations excluding special items 99.8 156.8
Clariant MB pro forma adjustments to net income from continuing operations(2) 20.7 20.7
Pro forma adjusted net income from continuing operations attributable to Avient
shareholders $ 120.5 $ 177.5
Weighted average diluted shares 90.7 90.6
Pro forma impact to diluted shares from January 2020 equity offering(2) 2.9 1.5
Pro forma weighted average diluted shares 93.6 92.1
Adjusted EPS - excluding special items pro forma for Clariant MB acquisition $ 1.29 $ 1.93
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
15
Nine Months Ended
September 30, 2020
Reconciliation of Pro Forma Adjusted
Earnings per Share: Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(2)
Pro Forma
Adjusted
Avient
Sales $ 2,245.1 $ — $ 2,245.1 $ 540.5 $ 2,785.6
Operating income $ 124.3 $ 59.1 $ 183.4 $ 45.0 $ 228.4
Interest expense, net (55.3) — (55.3) (18.1) (73.4)
Pension settlement gain and mark-to-market
adjustment — (6.9) (6.9) — (6.9)
Other income, net 12.6 0.3 12.9 — 12.9
Income taxes (22.5) (10.5) (33.0) (6.2) (39.2)
Net income attributable to noncontrolling
interests (1.3) — (1.3) — (1.3)
Net income from continuing operations
attributable to Avient shareholders $ 57.8 $ 42.0 $ 99.8 $ 20.7 $ 120.5
Weighted average diluted shares 90.7
Impact to diluted shares from January 2020 equity offering 2.9
Pro forma weighted average diluted shares 93.6
Pro forma adjusted EPS $ 1.29
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
16
Reconciliation of EBITDA by Segment
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021 2020 2021 2020
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
Items below OI in Corporate:
Other income, net $ 1.4 $ 1.5 $ 4.1 $ 12.6
Depreciation & amortization:
Color, Additives and Inks $ 26.6 $ 26.3 $ 79.2 $ 48.0
Specialty Engineered Materials 7.9 7.5 23.8 22.7
Distribution 0.2 0.2 0.6 0.4
Corporate and eliminations 2.1 2.5 4.1 6.2
Depreciation & Amortization $ 36.8 $ 36.5 $ 107.7 $ 77.3
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)
EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2
EBITDA as a % of Sales:
Color, Additives and Inks 15.9 % 15.6 % 17.6 % 17.5 %
Specialty Engineered Materials 17.0 % 18.5 % 18.4 % 16.7 %
Distribution 5.5 % 6.4 % 6.0 % 6.4 %
17
Reconciliation of Pro Forma EBITDA - Color, Additives and Inks
Nine Months Ended
September 30, 2020
Sales:
Color, Additives and Inks $ 977.1
Clariant MB pro forma adjustments(2) 540.5
Pro forma sales $ 1,517.6
Operating income:
Color, Additives and Inks $ 123.3
Clariant MB pro forma adjustments(2) 45.0
Pro forma operating income $ 168.3
Depreciation & amortization:
Color, Additives and Inks $ 48.0
Clariant MB pro forma adjustments(2) 30.1
Pro forma depreciation & amortization $ 78.1
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA):
Color, Additives and Inks $ 171.3
Clariant MB pro forma adjustments(2) 75.1
Pro forma EBITDA $ 246.4
Pro forma EBITDA as a % of Sales 16.2 %
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to EBITDA and Pro Forma Adjusted EBITDA: 2021 2020 2021 2020
Net income from continuing operations – GAAP $ 52.6 $ 2.6 $ 201.7 $ 59.1
Income tax expense 8.5 2.7 51.8 22.5
Interest expense 19.0 29.7 57.8 55.3
Depreciation and amortization from continuing operations 36.8 36.5 107.7 77.3
EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2
Special items, before tax 19.9 50.0 36.5 62.0
Interest expense included in special items — (9.6) — (10.1)
Depreciation and amortization included in special items (0.9) (1.3) (0.1) (2.5)
Adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 263.6
Clariant MB pro forma adjustments(2) — — — 75.1
Pro forma adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 338.7
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
NEWS RELEASE
Attachment 1
https://www.avient.com/sites/default/files/2020-08/fiber-solutions-business-unit-overview-2020.pdf
• Attractive appearance to final product
• Long lasting color
ENVIRONMENTAL ADVANTAGES
• Environmental advantages
• Less production costs
• Lower carbon footprint
• Lower chemical usage
• Waste reduction
MAGIQ FIBER COLORANTS -
MASTERBATCH PORTFOLIO
BLACK
• Standard and special products with high
pigment concentrations and excellent
tinting strength
• MBs at lower concentrations designed
to meet specific customer needs
• Black MB tailored for special requirements, with
particular physical/rheological properties
Product characteristics
• Optimal melt flow properties allow a good
mixture with the polymer matrix yielding
the best possible spinnability
Carriers: PET, PBT, PA 6, PA 66, others
Applications
• Continuous filament spinning, including
fine denier (POY, FDY, HOY, bi-component yarns)
• Long and short spinning staple fiber
• Spunbond
WHITE
• TiO2 white with excellent opacifying
or tinting strength
• Optical white MBs that improve the surface
whiteness and/or brightness of end products
Product characteristics
• Optimal melt flow properties allow a good
mixture with the polymer matrix yielding
the best possible spinnability
• Full pigment dispersion ensures maximum CPF/
Spinning pack life
TECHNICAL ANALYSES
• DSC: Thermal analyses to characterize polymers, additives
and colorants
• TGA: Thermogravimetric analysis to evaluate thermal stability,
plus inorganic pigment, and carbon black content in the
Masterbatch
• FT-IR: Infrared spectroscopy for the analysis of raw materials
• Incineration oven to determine inorganic content
• Melt Flow Tester to measure the Melt Flow Rate of MBs
and Polymers
• Filter test to measure the dispersion quality and aggregate
content of materials contained in the polymer matrix
• Intrinsic/Relative Viscosity of Masterbatches and polymers
• Moisture content in the liquid colorants, MBs and polymers
• UV-Visible spectrometry: instrumental evaluation of the color
on yarn to perform quality control, color matchings and recipes
adjustments
• Yarn testing to evaluate mechanical properties, abrasion,
dry heat, rubbing and other characteristics
• Our pilot spinning lines have state-of-the-art take-up winders
that spin up to 4,500 meters/minute.
https://www.avient.com/resources/safety-data-sheets?page=2217
STAN-TONE MB-31134 GOLD RUSH
STAN-TONE MB-31063 BURNT UMBER
STAN-TONE MB-31022 PEARL
https://www.avient.com/sites/default/files/2023-11/2023 Syncure Wire and Cable Product Selection Guide_SPANISH.pdf
Syncure™ XLPE
Formulaciones Para
Polietileno Reticulable
PARA CABLES DE BAJA TENSIÓN
GUÍA DE SELECCIÓN DE PRODUCTO
Syncure™ XLPE
POLIETILENO RETICULABLE POR HUMEDAD PARA AISLAMIENTO PARA CABLES DE BAJA TENSIÓN
SISTEMA S100FH S100FH-XUV S100FH-UV S100FV S100FV-UV S112NA S120NA S200FH S200FV
Aplicaciones Cable para construcción, bandeja de cables
Cable para construcción,
bandeja de cables
Cable fotovoltaico
(PV)
Cable para construcción,
bandeja de cables
Cable para construcción,
bandeja de cables
Cable para construcción,
Teck-90 Tuberia
Cable para edificaciones,
tray cables,
cables de servicio
Cable para edificaciones,
tray cables,
cables de servicio
Especificaciones UL 44 UL 44 UL 44, UL 4703 UL 44 UL 44 CSA 22.2 Usable para NSF 61 UL 44 UL 44
Tipo de alambre XHHW-2, RHW-2, USE-2, SIS
XHHW-2, RHW-2, USE-2,
SIS
XHHW-2, RHW-2,
USE-2, SIS, PV
XHHW-2, RHW-2,
SIS
XHHW-2, RHW-2,
USE-2, SIS, PV RW-90, Teck-90 –
RHW-2, RHW, RHH,
XHHW-2, XHH, XHHW, SIS RHW, RHH, RHW-2
% de
componentes
83% S1054A
17% V0022G RoHS
83% S1054A
17% V0022G-UV RoHS
70% S1054A
30% V0022G-UV RoHS
50% S1054A
50% V0044G RoHS
50% S1054A
50% V0044G-UV RoHS
95% S1054A
5% S1000B
95% S1016A
5% S1037B
78% S1054A
22% SC5400-0002 RoHS
MB ALT FR
50% S1054A
50% SC5400-0003 RoHS
MB ALT FR
Caracteristicas Flama horizontal
Flama horizontal,
resistencia UV,
posibilidad de colorear
Flama horizontal,
flama FV-1, resistencia UV,
posibilidad de colorear
VW-1 VW-1, resistencia UV, posibilidad de colorear
Sin retardante
a la flama
Para aplicaciones
de tuberia
Flama horizontal,
libre de DBDPE VW-1, libre de DBDPE
PROPIEDADES GENERALES
Gravedad Específica 1.01 1.02 1.10 1.31 1.31 0.92 0.95 1.01 1.31
Rigidez Shore D,
10 Segundos 47 47 47 48 48 47 59 47 48
% de Contenido
de Gel 68 68 70 70 70 72 72 68 70
PROPIEDADES DE RESISTENCIA A LA TRACCIÓN
Resistencia a la
Tracción (psi) 2800 2500 2500 3200 2650 2800 4500 2800 3200
% de Elongación 400 400 400 470 540 400 80 400 470
% de Retención
de Tracción 100 100 97 110 110 95 75 95 100
% de Retención
de Elongación 90 90 94 100 100 90 75 90 93
PROPIEDADES ELÉCTRICAS
Resistencia Dieléctrica
(V/mil) 1000 1400 1400 1200 1200 1000 –– 1000 1200
Constante Dieléctrica 2.31 2.45 2.61 2.61 2.61 2.24 2.1 2.31 2.61
% de Factor
de Disipación 0.0012 0.0080 0.008 0.0043 0.0043 0.0008 0.002 0.0012 0.0043
PROPIEDADES TÉRMICAS
Condiciones Nominales
de Temperatura en °C 90 90 90 90 90 90 125 90 90
% de Deformación
Térmica 10 10 5 5 5 10 10 10 5
La cartera Syncure XLPE es un sistema de dos pasos
de Polietileno reticulable por humedad, injertado con
Silano.
https://www.avient.com/resources/safety-data-sheets?page=4618
STAN-TONE MB-103298 PEARL RED 9505
STAN-TONE MB-103303 PEARL RED 504
STAN-TONE MB-27854 GREEN
https://www.avient.com/sites/default/files/2023-10/2023 Syncure Wire and Cable Product Selection Guide.pdf
Syncure™ XLPE
Cross-linkable
Polyethylene
Formulations
FOR LOW VOLTAGE CABLES
PRODUCT SELECTION GUIDE
Syncure™ XLPE
MOISTURE CROSS-LINKABLE POLYETHYLENE INSULATION FOR LOW VOLTAGE CABLE SYSTEMS
SYSTEM S100FH S100FH-XUV S100FH-UV S100FV S100FV-UV S112NA S120NA S200FH S200FV
Applications
Building Wire,
Tray Cable
Building Wire,
Tray Cable
Photo-Voltaic (PV)
Wire
Building Wire,
Tray Cable
Building Wire,
Tray Cable
Building Wire,
Teck-90
Pipe and Tube
Building Wire, Tray Cable,
Service Entrance
Building Wire, Tray Cable,
Service Entrance
Specification UL 44 UL 44 UL 44, UL 4703 UL 44 UL 44 CSA 22.2
Suitable for
NSF 61
UL 44 UL 44
Wire Type
XHHW-2, RHW-2, USE-2,
SIS
XHHW-2, RHW-2, USE-2,
SIS
XHHW-2, RHW-2,
USE-2, SIS, PV
XHHW-2, RHW-2,
SIS
XHHW-2, RHW-2,
USE-2, SIS, PV
RW-90, Teck-90 –
RHW-2, RHW, RHH,
XHHW-2, XHH, XHHW, SIS
RHW, RHH, RHW-2
Components %
83% S1054A
17% V0022G RoHS
83% S1054A
17% V0022G-UV RoHS
70% S1054A
30% V0022G-UV RoHS
50% S1054A
50% V0044G RoHS
50% S1054A
50% V0044G-UV RoHS
95% S1054A
5% S1000B
95% S1016A
5% S1037B
78% S1054A
22% SC5400-0002 RoHS
MB ALT FR
50% S1054A
50% SC5400-0003 RoHS
MB ALT FR
Features
Horizontal
Flame
Horizontal Flame,
UV Resistant,
Colors Possible
Horizontal Flame,
FV-1 Flame, UV Resistant,
Colors Possible
VW-1
VW-1, UV Resistant,
Colors Possible
Non-FR Rigid Pipe Applications
Horizontal Flame,
DBDPE-free
VW-1, DBDPE-free
GENERAL PROPERTIES
Specific Gravity 1.01 1.02 1.10 1.31 1.31 0.92 0.95 1.01 1.31
Hardness Shore D,
10 Seconds
47 47 47 48 48 47 59 47 48
Gel 68 68 70 70 70 72 72 68 70
TENSILE PROPERTIES
Tensile Strength
(psi) 2800 2500 2650 3200 2650 2800 4500 2800 3200
Elongation % 400 400 540 470 540 400 80 400 470
Tensile
Retention %
100 100 97 110 110 95 75 95 100
Elongation
Retention %
90 90 94 100 100 90 75 90 93
ELECTRICAL
Dielectric
Strength (V/mil) 1000 1400 1400 1200 1200 1000 – 1000 1200
Dielectric
Constant
2.31 2.45 2.61 2.61 2.61 2.24 2.1 2.31 2.61
Dissipation
Factor %
0.0012 0.0080 0.008 0.0043 0.0043 0.0008 0.002 0.0012 0.0043
THERMAL
Temperature
Rating °C
90 90 90 90 90 90 125 90 90
Heat
Deformation %
10 5 5 5 5 10 10 10 5
The Syncure™ XLPE portfolio is a two-step, silane-
grafted, moisture cross-linkable polyethylene system.
https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
For the year,
SEM grew operating income 13%, as demand for our composites technologies continues to
strengthen,” said Robert M.
See Attachment 3 for a definition and summary of special items and Attachment 7 for a summary of pro forma adjustments
associated with the Clariant MB Acquisition necessary to reflect Clariant MB adjusted results in all periods presented.
Reconciliation of Pro Forma Adjusted Earnings
per Share:
Three Months Ended
December 31,
Year Ended
December 31,
2019 2020 2019
Net income from continuing operations attributable to
Avient shareholders $ 6.4 $ 132.0 $ 75.5
Special items, after tax (Attachment 3) 19.9 24.8 55.8
Adjusted net income from continuing operations
excluding special items 26.3 156.8 131.3
Clariant MB pro forma adjustments to net income
from continuing operations(2) 1.6 20.7 30.4
Pro forma adjusted net income from continuing
operations attributable to Avient shareholders $ 27.9 $ 177.5 $ 161.7
Weighted average diluted shares 77.5 90.6 77.7
Pro forma impact to diluted shares from January
2020 equity offering 15.3 1.5 15.3
Pro forma weighted average diluted shares 92.8 92.1 93.0
Pro forma adjusted EPS - excluding special items pro
forma for Clariant MB acquisition $ 0.30 $ 1.93 $ 1.74
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
Year Ended
December 31, 2020
Sales $ 3,242.1
Clariant MB pro forma adjustment to sales(2) 540.4
Pro forma sales $ 3,782.5
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
13
https://www.avient.com/resources/safety-data-sheets?page=2108
825 Buff M-2847
Silver Metallic M-2853
ABS Buff M-2847
https://www.avient.com/sites/default/files/2020-08/specialty-dispersions-overview.pdf
COLORANT DISPERSIONS
RUBBER COLORANT DISPERSIONS
Stan-Tone™ MB/MC & EP
Stan-Tone™ MB/MC & EP are pigment dispersions
for rubber systems, available in customizable binder
systems suited for nitrile, EPR, EPDM, SBR, natural
rubber, CPE and EVA compounds
Applications: industrial goods, auto mats, rubber
flooring, sponge rubber, wire and cable
URETHANE COLORANT DISPERSIONS
Polyester Urethane Paste Colorants:
Stan-Tone™ PEP
Stan-Tone™ PEP colorants are reactive and
compatible with polyester systems, reacting to
become part of the final cured product
Applications: cast urethane wheels, industrial
rollers, rigid foams, adhesives, laminates, pultrusion,
glass reinforced composites, coated fabrics
Polyether Urethane Paste Colorants:
Stan-Tone™ ET
Stan-Tone™ ET colorants for urethane are compatible
with polyether systems, reacting to become part of
the final cured product
Applications: flexible foam, cast-able rolls
and wheels, adhesives and laminates
EPOXY COLORANT DISPERSIONS
Stan-Tone™ EPX
Stan-Tone™ EPX consists of selected pigments
dispersed in a Bisphenol A undiluted epoxy resin with
an epoxide equivalent of 185
Applications: protective coatings, adhesives, epoxy
flooring, electrical potting and laminates
VINYL COLORANT DISPERSIONS
Stan-Tone™ VC & VCP
Stan-Tone™ VC and VCP are products based on single
pigment or multi-pigment blends and are designed
for applications in which dispersion, uniformity,
compatibility and cleanliness are essential
Applications: profile extrusions, decking, outdoor
furniture, calendaring applications
Plasticizer-Based Colorants for Vinyl Paste:
Stan-Tone™ HCC
Stan-Tone™ HCC dispersions consist of selected
pigments dispersed in diisodecyl phthalate
plasticizer (DIDP) and are designed for applications
in which dispersion, uniformity, compatibility and
cleanliness are essential
Applications: coated fabric, vinyl sealants,
adhesives, wall coverings, toys and sporting goods
SILICONE COLORANT DISPERSIONS
Liquid Silicone Colorants:
Silcopas™
Stan-Tone™ SP or FSP (FDA-compliant)
Silcotec™ SL
Stan-Tone™ HC Plus LSR (class VI certified)
Silicone paste colorants are single pigment or custom-
made dispersions using a silicone carrier specially
developed for liquid silicone rubber (LSR) injection
molding applications
Applications: infant care, toys, seals, gaskets and
medical equipment
High Consistency Silicone Rubber Colorants:
Silcogum™
Silcotec™ S
Stan-Tone™ SMB
Stan-Tone™ HC Plus HCR (class VI certified)
Silicone rubber colorants are made with a silicone
elastomer gum binder resulting in cuttable
masterbatches or slabs for ease of handling, especially
for 2-roll, open-mill mixing
Applications: mechanical seals, keypads, gaskets, wire
and cable jacketing
Room Temperature Vulcanization Colorants:
Silcopas™ RTV and Stan-Tone™ SP
Silcopas™ RTV and Stan-Tone™ SP colorants
offer a standard line of single pigment or custom
made dispersions using a low viscosity dimethyl
fluid specially developed for room temperature
vulcanization (RTV) rubber
Applications: caulks, sealants, adhesives
WATER-BASED COLORANT DISPERSIONS
Water-Based Liquid Colorants:
Stan-Tone™ WDN
Stan-Tone™ WDN water dispersions are high-solids
organic or inorganic pigment dispersions designed to
help meet standards for dispersion including pH levels
and strength and shade
Applications: dipped latex balloons and gloves,
coatings and adhesive systems
ADDITIVE
DISPERSIONS
AQUEOUS ADDITIVE DISPERSIONS
Aquamix™
Aquamix™ chemical dispersions are a full line of
dispersed and emulsified curatives, antioxidants,
fillers, vulcanizers, optical brighteners, flame
retardants, UV stabilizers and tackifiers
Applications: adhesives and latex compounding,
curatives
SILICONE ADDITIVE DISPERSIONS
Electrically Conductive Additives for Silicone:
Silcosperse™ EC
Silcosperse™ EC electrically conductive additives
provide high conductivity and lower filler loadings
Applications: resistors, printable electronics, flexible
electronics, insulator depolarizers
Laser Marking Additives for Silicone:
Silcosperse™ LM
Silcosperse™ LM laser marking additives are
dispersions that contain laser absorbers and color
formers that eliminate the need for secondary etching
Applications: medical device housings, electronic
device housings, wire and cable jacketing
Peroxide Additives for Silicone:
Silcocat™
Silcocat™ dispersions can improve silicone molding
process by stabilizing silicone peroxide compound levels
Applications: automotive hoses, seals, gaskets
Heat Stabilizer Additives for Silicone:
Silcosperse™
The Silcosperse™ family of heat stabilizing additives
provide a high quality dispersion into silicone
designed to enhance heat resistance of silicone
compounds
Mold Release Additives for Silicone:
Silcosperse™ IMR
Silcosperse™ IMR is an internal mold release
dispersion designed to be added to the silicone or
fluorosilicone compound to facilitate the de-molding
of finished parts
Acid Acceptor Additives for Silicone:
Silcosperse™ 180
Silcosperse™ 180 acid acceptor is a premium
dispersion used to neutralize acid by-products
generated by certain peroxides
Viscosity Modifiers for Silicone:
Silcosperse™ 237
Silcosperse™ 237 modifier dispersions are designed
to raise or control the viscosity without changing
solid content
SPECIALTY
PRODUCTS
DRY POWDER COLORANTS
Stan-Tone™ D and Stan-Tone™ DC
Stan-Tone™ D and Stan-Tone™ DC are dry powder
pigments available in a range of hues and
chemical types
WET OR DRY BLEND COLORANTS
Stan-Tone™ DB
Stan-Tone™ DB dry blend colorants provide
enhanced performance over dry colors, resulting
in uniform critical pigment weight ratios for
improved color control
SELF-BONDING SILICONE
Silcotec™ SCB
Silcotec™ SCB self-bonding silicone solutions
allow silicone to bond to various substrates
without prime coating
To learn more about our colorant & additive dispersions,
please contact us at +1.844.4AVIENT (1.844.428.4368) or
visit www.avient.com.
https://www.avient.com/sites/default/files/2023-08/QRG for suppliers on invoicing%5B50%5D.pdf
One attachment can be up to 100 MB,
but for performance reasons, consider limiting the attachment size to 16 MB or so.