https://www.avient.com/sites/default/files/resources/POL%2520CFA%2520IR%2520Presentation%2520w%2520non%2520GAAP%252011%252019%25202013.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated savings and
operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation.
• The above list of factors is not exhaustive.
• We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
https://www.avient.com/sites/default/files/resources/Gabelli%2520Conf%2520-%2520POL%2520IR%2520Presentation%2520wNon%2520GAAP%2520Reconciliation%252003%252026%252015.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates
and changes in the rate of inflation.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
https://www.avient.com/sites/default/files/2023-03/AVNT Mar 2023 Earnings Presentation.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.2
AVIENT: WHO WE ARE
36
24
9
35
• U.S. and Canada
• Latin America
• Europe, Middle East & Africa
• Asia
25,000+
CUSTOMERS
Headquartered in Avon Lake, OH
(Cleveland)
100+ manufacturing plants
Key Financial Data
2023E Sales $3.45 billion
2023E EBITDA $530 million
2023E EPS $2.40
100%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
Guidance as of February 15, 2023 Webcast
WHO WE ARE – VISION, STRATEGY, CULTURE
Avient Corporation (NYSE: AVNT) provides
specialized and sustainable material solutions that
transform customer challenges into opportunities,
bringing new products to life for a better world.
$600 $592
$3.02 $3.04
FULL YEAR 2022 PERFORMANCE
(TOTAL COMPANY PRO FORMA)
19
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
20
CAI
$2,402 $2,355
$409 $402
SEM Pro Forma
$1,308 $1,300
$278 $272
(+4% excluding FX)
- 2% -1%
(+5% excluding FX)
- 2%
(+4% excluding FX)
- 2%
(+2% excluding FX)
PRO FORMA FULL YEAR EPS BRIDGE
21
Pro Forma 2021 Adjusted EPS 3.02$
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)
22
$ 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
24
Sales Adjusted EBITDA
$845
$3,450
Adjusted EPS
(in millions) (in millions)
CASH FLOW / BALANCE SHEET
25
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability, primarily
in Europe
($ 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
27 (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
$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
28
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.
30
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.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Belgium.pdf
i) If Buyer is in default of
performance of its obligations towards Seller and fails to provide
adequate assurance of Buyer’s performance before the date of
scheduled delivery; or (ii) if Seller has reasonable doubts with
respect to Buyer’s performance of its obligations and Buyer fails to
provide to Seller adequate assurance of Buyer’s performance before
the date of scheduled delivery and in any case within thirty (30) days
of Seller’s demand for such assurance; or (iii) if Buyer becomes
insolvent or unable to pay its debts as they mature, or goes into
liquidation or any bankruptcy proceeding shall be instituted by or
against Buyer or if a trustee or receiver or administrator is appointed
for all or a substantial part of the assets of Buyer or if Buyer makes
any assignment for the benefit of its creditors; or (iv) in case of non-
compliance of Buyer with any law, statute ordinance, regulation,
code or standard (“Laws and Standards”), then Seller may by notice
in writing to Buyer, without prejudice to any of its other rights: (a)
demand return and take repossession of any delivered Products
which have not been paid for and all costs relating to the recovery of
the Products shall be for the account of Buyer; and/or (b) suspend its
performance or terminate its order confirmation for pending delivery
of Products unless Buyer makes such payment for Products on a cash
in advance basis or provides adequate assurance of such payment for
Products to Seller.
Department of the Treasury’s Office of Foreign Assets
Control (“Trade Control Laws”).
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Austria.pdf
i) If Buyer is in default of
performance of its obligations towards Seller and fails to provide
adequate assurance of Buyer’s performance before the date of
scheduled delivery; or (ii) if Seller has reasonable doubts with
respect to Buyer’s performance of its obligations and Buyer fails to
provide to Seller adequate assurance of Buyer’s performance before
the date of scheduled delivery and in any case within thirty (30) days
of Seller’s demand for such assurance; or (iii) if Buyer becomes
insolvent or unable to pay its debts as they mature, or goes into
liquidation or any bankruptcy proceeding shall be instituted by or
against Buyer or if a trustee or receiver or administrator is appointed
for all or a substantial part of the assets of Buyer or if Buyer makes
any assignment for the benefit of its creditors; or (iv) in case of non-
compliance of Buyer with any law, statute ordinance, regulation,
code or standard (“Laws and Standards”), then Seller may by notice
in writing to Buyer, without prejudice to any of its other rights: (a)
demand return and take repossession of any delivered Products
which have not been paid for in full and all costs relating to the
recovery of the Products shall be for the account of Buyer; and/or
(b) suspend its performance or terminate its order confirmation for
pending delivery of Products unless Buyer makes such payment for
Products on a cash in advance basis or provides adequate assurance
of such payment for Products to Seller.
Department of the Treasury’s Office of Foreign Assets
Control as well the trade sanction regulations imposed by the
Council of the EU(“Trade Control Laws”).
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Peru.pdf
i) If Buyer is in default of
performance of its obligations towards Seller and fails to provide
adequate assurance of Buyer’s performance before the date of
scheduled delivery; or (ii) if Seller has reasonable doubts with
respect to Buyer’s performance of its obligations and Buyer fails to
provide to Seller adequate assurance of Buyer’s performance before
the date of scheduled delivery and in any case within thirty (30) days
of Seller’s demand for such assurance; or (iii) if Buyer becomes
insolvent or unable to pay its debts as they mature, or goes into
liquidation or any bankruptcy proceeding shall be instituted by or
against Buyer or if a trustee or receiver or administrator is appointed
for all or a substantial part of the assets of Buyer or if Buyer makes
any assignment for the benefit of its creditors; or (iv) in case of non-
compliance of Buyer with any law, statute ordinance, regulation,
code or standard (“Laws and Standards”), then Seller may by notice
in writing to Buyer, without prejudice to any of its other rights: (a)
demand return and take repossession of any delivered Products
which have not been paid for and all costs relating to the recovery of
the Products shall be for the account of Buyer; and/or (b) suspend its
performance or terminate its order confirmation for pending delivery
of Products unless Buyer makes such payment for Products on a cash
in advance basis or provides adequate assurance of such payment for
Products to Seller.
Department of the Treasury’s Office of Foreign Assets
Control (“Trade Control Laws”).
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Ireland.pdf
i) If Buyer is in default of
performance of its obligations towards Seller and fails to provide
adequate assurance of Buyer’s performance before the date of
scheduled delivery; or (ii) if Seller has reasonable doubts with
respect to Buyer’s performance of its obligations and Buyer fails to
provide to Seller adequate assurance of Buyer’s performance before
the date of scheduled delivery and in any case within thirty (30) days
of Seller’s demand for such assurance; or (iii) if Buyer becomes
insolvent or unable to pay its debts as they mature, or goes into
liquidation or any bankruptcy proceeding shall be instituted by or
against Buyer or if a trustee or receiver or administrator is appointed
for all or a substantial part of the assets of Buyer or if Buyer makes
any assignment for the benefit of its creditors; or (iv) in case of non-
compliance of Buyer with any law, statute ordinance, regulation,
code or standard (“Laws and Standards”), then Seller may by notice
in writing to Buyer, without prejudice to any of its other rights: (a)
demand return and take repossession of any delivered Products
which have not been paid for and all costs relating to the recovery of
the Products shall be for the account of Buyer; and/or (b) suspend its
performance or terminate its order confirmation for pending delivery
of Products unless Buyer makes such payment for Products on a cash
in advance basis or provides adequate assurance of such payment for
Products to Seller.
Department of the Treasury’s Office of
Foreign Assets Control, and the Control of Exports Act 2008 (as may
be amended, modified or replaced) (“Trade Control Laws”).
https://www.avient.com/sites/default/files/2024-10/Avient CDP Climate Change %26 Water Submission 20241001.pdf
Row 6
(5.3.2.1) Financial planning elements that have been affected
Select all that apply
☑ Assets
(5.3.2.2) Effect type
Select all that apply
☑ Risks
☑ Opportunities
(5.3.2.3) Environmental issues relevant to the risks and/or opportunities that have affected these financial planning elements
Select all that apply
☑ Climate change
(5.3.2.4) Describe how environmental risks and/or opportunities have affected these financial planning elements
At Avient, climate-related risks and opportunities have influenced our financial planning when it comes to Assets.
For instance, our ERM process and the Risk
Management Committee frequently assess property risks and opportunities and provides guidance on Asset Management (for instance for new Facilities
development and existing facilities Divestment or Acquisitions) to mitigate, among others, physical risks that could cause decreased asset life, value write-offs,
insurance costs increase among others.
Time horizon covered by the financial planning process for Assets: short term to 5 years out.
124
[Add row]
(5.4) In your organization’s financial accounting, do you identify spending/revenue that is aligned with your organization’s
climate transition?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520–%2520Goldman%2520Sachs%2520Conference%25202015.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates
and changes in the rate of inflation.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; employee separation costs resulting from personnel reduction programs, plant phase-in costs, executive separation agreements; asset impairments; mark-to-market
adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties, remediation costs and related
insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; 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; unrealized gains and losses from foreign currency option contracts; one-time, non-recurring items; and the effect of changes in accounting principles or other such
laws or provisions affecting reported results.
(2) Tax adjustments include the net tax expense (benefit) from one-time income tax items and deferred income tax valuations allowance adjustments.
https://www.avient.com/sites/default/files/resources/Wells%2520Fargo%2520Conference%2520-%2520IR%2520Presentation%25205-6-2015%2520-%2520wNon%2520GAAP%2520and%2520Appendix.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to acquisitions, including any expected synergies;
Our ability to successfully integrate acquired companies and achieve the expected results of the acquisitions, including, without limitation, the
acquisitions being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates
and changes in the rate of inflation.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; employee separation costs resulting from personnel reduction programs, plant phase-in costs, executive separation agreements; asset impairments; mark-to-market
adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties, remediation costs and related
insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; 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; unrealized gains and losses from foreign currency option contracts; one-time, non-recurring items; and the effect of changes in accounting principles or other such
laws or provisions affecting reported results.
(2) Tax adjustments include the net tax expense (benefit) from one-time income tax items and deferred income tax valuations allowance adjustments.