https://www.avient.com/sites/default/files/2024-12/Certificate ISO 22000_Tangerang.pdf
Avient Colorants Indonesia
Gatot Subroto Km. 4, Jl.
https://www.avient.com/sites/default/files/2021-01/complet-craftech-non-metallic-fasteners.pdf
CRAFTECH®
N O N - M E T A L L I C F A S T E N E R S
• Corrosion resistance
• Electrical isolation
• Strength performance similar to competitive products
made of metals
• Supplied pre-colored long fiber reinforced
composites for consistent appearance
• Formulated an LFT solution to meet key
performance needs and strength to compete
against metal alternatives
• Delivered custom formulated materials on-
time with short lead times and in low release
quantities
Complēt™ Long Glass Fiber ETPU Composite
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2022-09/Avient Discontinued Operations Financial Information.pdf
G A A P I N C O M E S TAT E M E N T R E C A S T F O R A V I E N T D I S T R I B U T I O N A S A
D I S C O N T I N U E D O P E R AT I O N
Avient Corporation 3
Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 YTD Q1 2022 Q2 2022 YTD 2022
Sales 826.0$ 864.5$ 818.0$ 807.1$ 3,315.6$ 892.2$ 891.0$ 1,783.2$
Cost of sales 562.9 615.9 602.4 590.5 2,371.7 637.8 630.1 1,267.9
Gross margin 263.1 248.6 215.6 216.6 943.9 254.4 260.9 515.3
Selling and administrative 168.7 166.2 162.8 166.4 664.1 152.2 160.8 313.0
Operating income 94.4 82.4 52.8 50.2 279.8 102.2 100.1 202.3
Interest expense, net (19.3) (19.5) (19.0) (17.5) (75.3) (16.9) (16.2) (33.1)
Other income (expense), net 1.6 1.1 1.6 (5.3) (1.0) (0.6) 1.6 1.0
Income before income taxes 76.7 64.0 35.4 27.4 203.5 84.7 85.5 170.2
Income tax (expense) benefit (16.3) (13.8) (2.0) (16.2) (48.3) (20.0) (22.7) (42.7)
Net income from continuing operations 60.4 50.2 33.4 11.2 155.2 64.7 62.8 127.5
Net income from discontinued operations, net of income taxes 19.3 19.2 19.2 17.7 75.4 19.8 21.9 41.7
Net income 79.7 69.4 52.6 28.9 230.6 84.5 84.7 169.2
Net (income) loss attributable to noncontrolling interests (0.4) (0.6) 0.3 0.9 0.2 (0.3) - (0.3)
Net income attributable to Avient common shareholders 79.3$ 68.8$ 52.9$ 29.8$ 230.8$ 84.2$ 84.7$ 168.9$
Earnings per share attributable to Avient common shareholders - Basic
Continuing operations 0.66$ 0.54$ 0.37$ 0.13$ 1.70$ 0.70$ 0.69$ 1.39$
Discontinued operations 0.21$ 0.21$ 0.21$ 0.20$ 0.83$ 0.22$ 0.24$ 0.46$
Total 0.87$ 0.75$ 0.58$ 0.33$ 2.53$ 0.92$ 0.93$ 1.85$
Earnings per share attributable to Avient common shareholders - Diluted
Continuing operations 0.65$ 0.54$ 0.37$ 0.13$ 1.69$ 0.70$ 0.68$ 1.38$
Discontinued operations 0.21$ 0.20$ 0.20$ 0.19$ 0.82$ 0.21$ 0.24$ 0.45$
Total 0.86$ 0.74$ 0.57$ 0.32$ 2.51$ 0.91$ 0.92$ 1.83$
A D J U S T E D F I N A N C I A L I N F O R M AT I O N R E C A S T F O R A V I E N T D I S T R I B U T I O N A S A
D I S C O N T I N U E D O P E R AT I O N
Avient Corporation 4
Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 YTD Q1 2022 Q2 2022 YTD 2022
Sales 826.0$ 864.5$ 818.0$ 807.1$ 3,315.6$ 892.2$ 891.0$ 1,783.2$
Cost of sales 565.1 603.3 585.1 584.6 2,338.1 632.0 632.1 1,264.1
Gross margin 260.9 261.2 232.9 222.5 977.5 260.2 258.9 519.1
Selling and administrative 164.1 164.6 160.1 161.1 649.9 151.3 157.0 308.3
Operating income 96.8 96.6 72.8 61.4 327.6 108.9 101.9 210.8
Interest expense, net (19.3) (19.5) (19.0) (17.5) (75.3) (16.9) (16.2) (33.1)
Other income (expense), net 1.6 1.1 1.5 4.1 8.3 (0.7) 0.7 0.0
Income before income taxes 79.1 78.2 55.3 48.0 260.6 91.3 86.4 177.7
Income tax expense (16.1) (16.3) (10.2) (12.8) (55.4) (20.2) (20.4) (40.6)
Net income from continuing operations 63.0 61.9 45.1 35.2 205.2 71.1 66.0 137.1
Net (income) loss attributable to noncontrolling interests
(0.4) (0.6) 0.3 0.9 0.2 (0.3) - (0.3)
Adjusted Net income attributable to Avient common
shareholders - continuing operations 62.6$ 61.3$ 45.4$ 36.1$ 205.4$ 70.8$ 66.0$ 136.8$
Adjusted earnings per share attributable to Avient
common shareholders - Diluted 0.68$ 0.66$ 0.49$ 0.39$ 2.23$ 0.77$ 0.72$ 1.48$
Weighted average diluted Shares 92.2 92.4 92.2 92.4 92.1 92.3 92.1 92.2
S E G M E N T D ATA R E C A S T F O R AV I E N T D I S T R I B U T I O N A S A D I S C O N T I N U E D
O P E R AT I O N
Avient Corporation 5
Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 YTD Q1 2022 Q2 2022 2022 YTD
Sales:
Color, Additives and Inks 609.3$ 624.4$ 586.6$ 581.3$ 2,401.6$ 649.5$ 649.1$ 1,298.6$
Specialty Engineered Materials 214.7 238.9 231.7 226.3 911.6 243.1 242.3 485.4
Corporate and Eliminations 2.0 1.2 (0.3) (0.5) 2.4 (0.4) (0.4) (0.8)
Sales 826.0 864.5 818.0 807.1 3,315.6 892.2 891.0 1,783.2
Gross Margin:
Color, Additives and Inks 197.5$ 193.4$ 172.1$ 164.5$ 727.5$ 192.1$ 193.4$ 385.5$
Specialty Engineered Materials 63.1 68.1 61.4 58.3 250.9 68.4 66.0 134.4
Corporate and Eliminations 2.5 (12.9) (17.9) (6.2) (34.5) (6.1) 1.5 (4.6)
Gross Margin 263.1 248.6 215.6 216.6 943.9 254.4 260.9 515.3
Selling and Administrative Expense:
Color, Additives and Inks 108.7$ 107.1$ 105.3$ 103.3$ 424.4$ 97.6$ 99.8$ 197.4$
Specialty Engineered Materials 30.5 32.3 31.4 31.2 125.4 30.1 30.8 60.9
Corporate and Eliminations 29.5 26.8 26.1 31.9 114.3 24.5 30.2 54.7
Selling and Administrative Expense 168.7 166.2 162.8 166.4 664.1 152.2 160.8 313.0
Operating Income:
Color, Additives and Inks 88.8$ 86.3$ 66.8$ 61.2$ 303.1$ 94.5$ 93.6$ 188.1$
Specialty Engineered Materials 32.6 35.8 30.0 27.1 125.5 38.3 35.2 73.5
Corporate and Eliminations (27.0) (39.7) (44.0) (38.1) (148.8) (30.6) (28.7) (59.3)
Operating Income 94.4 82.4 52.8 50.2 279.8 102.2 100.1 202.3
Earnings Before Interest, Taxes,
Depreciation and Amortization (EBITDA):
Color, Additives and Inks 116.2$ 111.6$ 93.4$ 87.6$ 408.8$ 120.5$ 119.5$ 240.0$
Specialty Engineered Materials 40.4 43.9 37.9 35.1 157.3 46.1 42.9 89.0
Corporate and Eliminations (25.3) (39.5) (41.9) (34.6) (141.3) (26.8) (26.0) (52.8)
Other income (expense) 1.6 1.1 1.6 (5.3) (1.0) (0.6) 1.6 1.0
EBITDA 132.9 117.1 91.0 82.8 423.8 139.2 138.0 277.2
N O N - G A A P R E C O N C I L I AT I O N S F O R R E C A S T H I S T O R I C A L R E S U LT S
Avient Corporation 6
Special
Adjusted
Special
Adjusted
Special
Adjusted
Special
Adjusted
Special
Adjusted
Sales $ 826.0 $ - $ 826.0 $ 864.5 $ - $ 864.5 $ 818.0 $ - $ 818.0 $ 807.1 $ - $ 807.1 $ 3,315.6 $ - $ 3,315.6
Gross margin 263.1 (2.2) 260.9 248.6 12.6 261.2 215.6 17.3 232.9 216.6 5.9 222.5 943.9 33.6 977.5
Selling and administrative expense 168.7 (4.6) 164.1 166.2 (1.6) 164.6 162.8 (2.7) 160.1 166.4 (5.3) 161.1 664.1 (14.2) 649.9
Operating income 94.4 2.4 96.8 82.4 14.2 96.6 52.8 20.0 72.8 50.2 11.2 61.4 279.8 47.8 327.6
Interest expense, net (19.3) - (19.3) (19.5) - (19.5) (19.0) - (19.0) (17.5) - (17.5) (75.3) - (75.3)
Other income (expense), net 1.6 - 1.6 1.1 - 1.1 1.6 (0.1) 1.5 (5.3) 9.4 4.1 (1.0) 9.3 8.3
Income taxes (16.3) 0.2 (16.1) (13.8) (2.5) (16.3) (2.0) (8.2) (10.2) (16.2) 3.4 (12.8) (48.3) (7.1) (55.4)
Net income (loss) attributable to noncontrolling
interests
(0.4) - (0.4) (0.6) - (0.6) 0.3 - 0.3 0.9 - 0.9 0.2 - 0.2
Net income from continuing operations attributable
to Avient shareholders
$ 60.0 $ 2.6 $ 62.6 $ 49.6 $ 11.7 $ 61.3 $ 33.7 $ 11.7 $ 45.4 $ 12.1 $ 24.0 $ 36.1 $ 155.4 $ 50.0 $ 205.4
Net income / EPS $ 0.65 0.03 $ 0.68 $ 0.54 0.13 $ 0.66 $ 0.37 0.13 $ 0.49 $ 0.13 $ 0.26 $ 0.39 $ 1.69 0.54 $ 2.23
Weighted-average diluted shares 92.2 92.2 92.2 92.4 92.4 92.4 92.2 92.2 92.2 92.4 92.4 92.4 92.1 92.1 92.1
Three Months Ended
December 31, 2021
Year Ended
December 31, 2021
Three Months Ended
March 31, 2021
Three Months Ended
June 30, 2021
Three Months Ended
September 30, 2021
N O N - G A A P R E C O N C I L I AT I O N S F O R R E C A S T H I S T O R I C A L R E S U LT S
Avient Corporation 7
Special
Adjusted
Special
Adjusted
Special
Adjusted
Sales $ 892.2 $ - $ 892.2 $ 891.0 $ - $ 891.0 $ 1,783.2 $ - $ 1,783.2
Gross margin 254.4 5.8 260.2 260.9 (2.0) 258.9 515.3 3.8 519.1
Selling and administrative expense 152.2 (0.9) 151.3 160.8 (3.8) 157.0 313.0 (4.7) 308.3
Operating income 102.2 6.7 108.9 100.1 1.8 101.9 202.3 8.5 210.8
Interest expense, net (16.9) - (16.9) (16.2) - (16.2) (33.1) - (33.1)
Other (expense) income, net (0.6) (0.1) (0.7) 1.6 (0.9) 0.7 1.0 (1.0) 0.0
Income taxes (20.0) (0.2) (20.2) (22.7) 2.3 (20.4) (42.7) 2.1 (40.6)
Net income attributable to noncontrolling interests (0.3) - (0.3) - - - (0.3) - (0.3)
Net income from continuing operations attributable
to Avient shareholders
$ 64.4 $ 6.4 $ 70.8 $ 62.8 $ 3.2 $ 66.0 $ 127.2 $ 9.6 $ 136.8
Net income / EPS $ 0.70 0.07 $ 0.77 $ 0.68 0.03 $ 0.72 $ 1.38 0.10 1.48
Weighted-average diluted shares 92.3 92.3 92.3 92.1 92.1 92.1 92.2 92.2 92.2
Three Months Ended
March 31, 2022
Three Months Ended
June 30, 2022
Six Months Ended
June 30, 2022
N O N - G A A P R E C O N C I L I AT I O N S F O R R E C A S T A D J U S T E D E B I T D A
Avient Corporation 8
EBITDA Reconciliation Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022 YTD 2022
Net income from continuing operations – GAAP 60.4$ 50.2$ 33.4$ 11.2$ 155.2$ 64.7$ 62.8$ 127.5$
Income tax expense 16.3 13.8 2.0 16.2 48.3 20.0 22.7 42.7
Interest expense, net 19.3 19.5 19.0 17.5 75.3 16.9 16.2 33.1
Depreciation and amortization from continuing operations 36.9 33.6 36.6 37.9 145.0 37.6 36.3 73.9
EBITDA 132.9 117.1 91.0 82.8 423.8 139.2 138.0 277.2
Special items, before tax 2.4 14.2 19.9 20.6 57.1 6.6 0.9 7.5
Depreciation and amortization included in special items (0.6) 1.4 (0.9) (1.6) (1.7) (2.1) (1.1) (3.2)
Adjusted EBITDA 134.7$ 132.7$ 110.0$ 101.8$ 479.2$ 143.7$ 137.8$ 281.5$
S U M M A R Y O F S P E C I A L I T E M S
Avient Corporation 9
Q1 2021 Q2 2021 Q3 2021 Q4 2021 2021 YTD Q1 2022 Q2 2022 2022 YTD
Cost of sales:
Restructuring costs, including accelerated depreciation (1.8)$ (1.5)$ (5.3)$ (6.0)$ (14.6)$ (4.4)$ (2.6)$ (7.0)$
Environmental remediation costs (0.5) (12.5) (9.4) (0.5) (22.9) (2.0) (3.0) (5.0)
Reimbursement of previously incurred environmental costs 4.5 - - - 4.5 0.6 7.6 8.2
Acquisition related adjustments - 1.4 (2.6) 0.6 (0.6) - - -
Impact on cost of sales 2.2 (12.6) (17.3) (5.9) (33.6) (5.8) 2.0 (3.8)
Selling and administrative expense:
Restructuring, legal and other (1.3) (1.4) - (4.2) (6.9) 2.0 (1.7) 0.3
Acquisition/divestiture related costs (3.3) (0.2) (2.7) (1.1) (7.3) (2.9) (2.1) (5.0)
Impact on selling and administrative expense (4.6) (1.6) (2.7) (5.3) (14.2) (0.9) (3.8) (4.7)
Impact on operating income (2.4) (14.2) (20.0) (11.2) (47.8) (6.7) (1.8) (8.5)
Other income, net - - 0.1 (9.4) (9.3) 0.1 0.9 1.0
Impact on income before income taxes (2.4) (14.2) (19.9) (20.6) (57.1) (6.6) (0.9) (7.5)
Income tax benefit on above special items 0.9 3.4 4.6 4.1 13.0 1.7 0.2 1.9
Tax adjustments (1.1) (0.9) 3.6 (7.5) (5.9) (1.5) (2.5) (4.0)
Impact of special items on net income (2.6)$ (11.7)$ (11.7)$ (24.0)$ (50.0)$ (6.4)$ (3.2)$ (9.6)$
https://www.avient.com/sites/default/files/resources/POL%2520Gabelli%2520IR%2520Presentation%2520w%2520Non-GAAP%252003%252020%25202014.pdf
Use of Non-GAAP Measures
Page 3
PolyOne Commodity to Specialty Transformation
Page 4
• Continue specialty
transformation
• Targeting $2.50
Adjusted EPS by
2015, nearly
double 2013 EPS
• Drive double digit
operating income
and adjusted EPS
growth
• 17 consecutive
quarters of double-
digit adjusted EPS
growth
• Shift to faster
growing, high
margin, less cyclical
end markets
• Key acquisitions
propel current and
future growth, as
well as margin
expansion
• Established
aggressive 2015
targets
• Steve Newlin
Appointed,
Chairman, President
and CEO
• New leadership
team appointed
• Implementation of
four pillar strategy
• Focus on value
based selling,
investment in
commercial
resources and
innovation to drive
transformation
• Volume driven,
commodity
producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2013 2014 and beyond
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
PolyOne S&P 500 Russell 2000 Dow Jones Chemical
All time high of
$38.38
March 7th, 2014
• 17 consecutive quarters of
double digit EPS growth
• 49% CAGR adjusted EPS
expansion 2006-2013
• 2013 stock price increased
73% versus 30% growth in the
S&P
• More than seven fold increase in
market cap: $0.5b $3.6b
Strategy and Execution Drive Results
Page 5
Appliance
4%
Building &
Construction
13%
Wire & Cable
9%
Electrical &
Electronics
5%
Consumer
10%Packaging
16%
Industrial
12%
HealthCare
11%
Transportation
18%
Misc.
2%
United
States
66%
Europe
14%
Canada
7%
Asia
6%
Latin
America
7%
PP&S
Specialty
53%
Distribution
27%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
1.31
2.50
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
2006 2007 2008 2009 2010 2011 2012 2013 2015
Target
Ad
ju
st
ed
E
ar
ni
ng
s P
er
S
ha
re
2013 Revenues: $3.8 Billion
End Markets
2013 Revenues: $3.8 Billion
EPS
Page 6
PolyOne
At A Glance
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
65-
75%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
Specialty OI $5M $46M $87M $195M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 7
2006 2013 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 12.2% 12 – 16%
Global Specialty Engineered
Materials 1.1% 9.3% 12 – 16%
Designed Structures & Solutions -- 5.6% 8 – 10%
Performance Products &
Solutions 5.4% 7.2% 9 – 12%
Distribution 2.6% 5.9% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 62% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.1% 15%
4) Adjusted EPS Growth N/A 31% Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 8
Bridge To $2.50 Adjusted EPS By 2015
2015 EPS: $2.50
2013 EPS: $1.31
Mid single digit
revenue CAGR
Page 9
Mergers & Acquisitions
Spartech accretion
Incremental share buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation &
Mix Improvement
Innovation Drives Earnings Growth
$20.3
$52.3
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
*Percentage of Specialty Platform revenue from products introduced in last five years
Page 10
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Page 11
Unique and Innovative Solutions that Help
Customers Win
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Significant Debt Maturities
As of December 31, 2013
($ millions)
Page 12
Coupon Rates: 7.500% 7.375% 5.250%
Debt Maturities & Pension Funding – 12/31/13
*TTM 12/31/2013 ** includes US-qualified plans only
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2013
Pension Funding**
As of December 31, 2013
Free Cash Flow and Strong Balance Sheet Fund Investment
•Targets that expand our:
• Specialty offerings
•End market presence
•Geographic footprint
•Operating Margin
• Synergy opportunities
•Adjacent material solutions
•Expanding our sales,
marketing, and technical
capabilities
• Investing in operational and
LSS initiatives (including
synergy capture)
•Manufacturing alignment Organic
Growth
Share
Repurchases
Dividends
Acquisitions
Page 13
$0.16
$0.20 $0.24
$0.32
$0.00
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
• Repurchased ~5 million
shares in 2013
• 15 million shares
are available for
repurchase under
the current
authorization
The New PolyOne: A Specialty Growth Company
2015 Target: $2.50 Adjusted EPS
Why Invest In PolyOne?
Platform operating income mix percentage 2005Y* 2006* 2008Y* 2010Y* 2013Y
Global Specialty Engineered Materials $ 0.4 $ 3.9 $ 17.6 $ 49.7 $ 57.2
Global Color, Additives and Inks 4.3 8.9 28.1 37.7 104.0
Designed Structures and Solutions - - - - 33.4
Specialty Platform $ 4.7 $ 12.8 $ 45.7 $ 87.4 $ 194.6
Performance Products and Solutions 75.7 64.2 31.3 54.0 56.0
Distribution 19.5 19.2 28.1 42.0 63.3
SunBelt Joint venture 91.9 102.9 28.6 18.9 -
Corporate (51.5) 34.5 (425.1) (27.7) (82.4)
Operating income (loss) GAAP $ 140.3 $ 233.6 $ (291.4) $ 174.6 $ 231.5
Less: Corporate operating expense 51.5 (34.5) 425.1 27.7 82.4
Operating income excluding Corporate $ 191.8 $ 199.1 $ 133.7 $ 202.3 $ 313.9
Specialty platform operating mix percentage 2% 6% 34% 43% 62%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
Reconciliation to Condensed Consolidated Balance Sheets 2013
Short-term debt and current portion of long-term debt $ 12.7
Long-term debt 976.2
Less cash and cash equivalents (365.2)
Net debt $ 623.7
Adjusted EBITDA 2013
Income before income taxes $ 151.0
Interest expense, net 63.5
Depreciation and amortization 108.8
Special items in EBITDA 31.7
Adjusted EBITDA $ 355.0
2
Platform sales and operating income (OI) 2006Y* 2013Y
Global Specialty Engineered Materials sales $ 345.3 $ 615.5
Global Color, Additives and Inks sales 531.8 852.3
Designed Structures and Solutions sales - 597.4
Specialty Platform sales 877.1 2,065.2
Performance Products and Solutions sales 1,166.2 773.2
PolyOne Distribution sales 732.8 1,075.2
Corporate and eliminations (153.7) (142.4)
Total sales $ 2,622.4 $ 3,771.2
Global Specialty Engineered Materials OI $ 3.9 $ 57.2
Global Color, Additives and Inks OI 8.9 104.0
Designed Structures & Solutions OI - 33.4
Specialty Platform OI 12.8 194.6
Performance Products and Solutions OI 64.2 56.0
PolyOne Distribution OI 19.2 63.3
Sunbelt Joint Venture OI 102.9 -
Corporate and eliminations (4.6) (52.4)
Special items in OI 39.1 (30.0)
Operating income GAAP 233.6 231.5
Sunbelt equity income (107.0) -
Special items in OI (39.1) 30.0
Adjusted operating income $ 87.5 $ 261.5
Global Specialty Engineered Materials - OI % of sales 1.1% 9.3%
Global Color, Additives and Inks - OI % of sales 1.7% 12.2%
Designed Structures & Solutions - OI % of sales - 5.6%
Specialty platform OI - % of sales 1.5% 9.4%
PP&S operating OI - % of sales 5.5% 7.2%
Distribution OI - % of sales 2.6% 5.9%
PolyOne OI adjusted - % of sales 3.3% 6.9%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/PolyOne%25202013%2520Annual%2520Report.pdf
BUSINESS
Business Overview
specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and
enhancing additives, liquid colorants and fluoropolymers and silicone colorants.
Color and additive solutions include an innovative
array of colors, special effects and performance-enhancing and eco-friendly solutions.
Our Business
specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and
enhancing additives, liquid colorants, and fluoropolymer and silicone colorants.
https://www.avient.com/sites/default/files/2025-05/Avient Announces First Quarter 2025 Results_0.pdf
Our expanding portfolio of offerings includes colorants,
advanced composites, functional additives, engineered materials, and Dyneema®, the world’s
strongest fiber™.
Three Months Ended
March 31,
2025 2024
Sales:
Color, Additives and Inks $ 519.7 $ 515.3
Specialty Engineered Materials 308.4 314.4
Corporate (1.5) (0.7)
Sales $ 826.6 $ 829.0
Gross margin:
Color, Additives and Inks $ 173.1 $ 171.2
Specialty Engineered Materials 97.8 107.0
Corporate (7.7) —
Gross margin $ 263.2 $ 278.2
Selling and administrative expense:
Color, Additives and Inks $ 94.5 $ 96.4
Specialty Engineered Materials 50.7 53.6
Corporate 117.3 34.2
Selling and administrative expense $ 262.5 $ 184.2
Operating income:
Color, Additives and Inks $ 78.6 $ 74.8
Specialty Engineered Materials 47.1 53.4
Corporate (125.0) (34.2)
Operating income $ 0.7 $ 94.0
Depreciation & amortization:
Color, Additives and Inks $ 21.7 $ 21.9
Specialty Engineered Materials 21.5 19.6
Corporate 2.1 2.8
Depreciation & amortization $ 45.3 $ 44.3
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 100.3 $ 96.7
Specialty Engineered Materials 68.6 73.0
Corporate (122.9) (31.4)
Other expense, net (0.4) (0.9)
EBITDA $ 45.6 $ 137.4
Special items, before tax 101.2 6.2
Interest expense included in special items (1.7) —
Depreciation & amortization included in special items (0.4) (0.5)
Adjusted EBITDA $ 144.7 $ 143.1
12
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses operating income before special items to assess performance and allocate resources because senior
management believes that this measure is most useful in understanding current profitability levels and how it may serve as a
basis for future performance.
https://www.avient.com/sites/default/files/2023-08/SEM Solutions for E-Batteries Infographic_v2.pdf
BATTERY JUNCTION BOX
Stat-Tech™ Static Dissipative & Electrically
Conductive Formulations
Surround™ EMI/RFI Shielding Formulations
• Integrated EMI/RFI shielding
• Easier to process vs metals
MODULE CONNECTOR
Therma-Tech™ Thermally Conductive Formulations
• Good stiffness and mechanical strength
EV CONNECTOR
Edgetek™ PKE Polyketone Formulations
• Excellent chemical resistance
• Low moisture uptake
• Non-halogenated flame retardant performance
• Colorable (RAL Orange)
• Reduced carbon footprint vs PA6 and PA66
COOLING SYSTEM
Therma-Tech™ Thermally
• Tensile strength
• Chemical resistance
BATTERY FRAME
Maxxam™ FR Flame Retardant Polyolefin Formulations
Edgetek™ Engineered Polymer Formulations
Polystrand™ Continuous Glass Fiber Reinforced Thermoplastics
• Non-halogenated flame retardant
HOUSING TRAY
OnForce™ Long Glass Fiber Reinforced
Polypropylene Composites
Stat-Tech™ Static Dissipative & Electrically
Conductive Formulations
Polystrand™ Continuous Glass Fiber
Reinforced Thermoplastics
• Design integration & freedom
• Structural performance
• EMI shielding
BATTERY MANAGEMENT CONTROLLER
Stat-Tech™ Static Dissipative & Electrically Conductive Formulations
Surround™ EMI/RFI Shielding Formulations
• Integrated EMI/RFI shielding
• Easier to process vs metals
BATTERY HOUSING/COVER
OnForce™ Long Glass Fiber Reinforced Polypropylene Composites
Complēt™ Long Fiber Reinforced Structural Thermoplastics
• Metal replacement
• Lightweighting
• Structural performance
• Design integration & freedom
Polystrand™ Continuous Glass Fiber
• Localized biaxial reinforcement
• Impact performance
• Overmolding compatibility
• Integrated assembly point stiffening
ENGINEERED MATERIALS FOR EV BATTERIES
CELL MODULE
Therma-Tech™ Thermally
Conductive Formulations
• Good stiffness and
mechanical strength
UNDERBODY PROTECTION
Polystrand™ Continuous Glass Fiber
• Superior impact performance
• Significantly lighter than steel
• Simplified integration with housing
• Corrosion resistance
https://www.avient.com/sites/default/files/2024-06/EEO Policy Jan 2024.pdf
Avient
Corporation maintains a policy of non-discrimination in providing equal employment to all qualified
employees and candidates regardless of race, sex, sexual orientation, gender identity, age, color,
religion, national origin, disability, genetic information, protected veteran’s status, or other legally
protected classification in the state or locality in which a person is employed.
https://www.avient.com/sites/default/files/2021-04/eeo-updated-2020.pdf
Avient
Corporation maintains a policy of non-discrimination in providing equal employment to all qualified
employees and candidates regardless of race, sex, sexual orientation, gender identity, age, color,
religion, national origin, disability, genetic information, protected veteran’s status, or other legally
protected classification in the state or locality in which a person is employed.
https://www.avient.com/sites/default/files/2025-01/ColorMatrix Lactra ESL Infographic.pdf
Nutritional components in dairy
products are photosensitive,
making them susceptible to
light degradation
• Light protection in dairy packaging
helps maintain product integrity
and extend shelf life
A LIGHT BLOCKING SOLUTION THAT
PROVIDES:
• Light blocking and whiteness in PET dairy packaging
• Protection from 2 weeks up to 12 months shelf life
• Compatibility with monolayer and multilayer PET
preforms
• Full compatibility with rPET
• Food contact approved (region dependent)
• Low TiO₂ levels to increase recyclability, aligning
with the emergence of white recycle streams
PASTEURIZED MILK
Typical shelf life
5–10 days
WHITE COLOR LACTRA ESL
LACTRA SX or
LACTRA 4
EXTENDED
SHELF LIFE MILK
2 weeks–3 months
UHT MILK &
PRODUCTS
4–12 months
Lightweighting/CO2
reduction
Reduced LDR –
material &
cost savings
Improved
processing
performance
BENEFITS OF
COLORMATRIX™
LACTRA™ Improved
bottle
Compatibility
with rPET
Helps to
Protect
Performance
Energy efficiency
Whiteness
85–92 L*
30% less
life cycle
emissions
Increased machinery
life cycle due to reduced
wear & tear
80–100% light blocking
© 2024, All Rights Reserved
Avient Corporation, 33587 Walker Road, Avon Lake, Ohio USA 44012