https://www.avient.com/knowledge-base/case-study/reinforcing-stronger-infrastructure
It requires less maintenance and monitoring while also providing improved flow characteristics over rigid steel pipe.
https://www.avient.com/knowledge-base/case-study/reinforcing-stronger-infrastructure?rtype[]=1124
It requires less maintenance and monitoring while also providing improved flow characteristics over rigid steel pipe.
https://www.avient.com/knowledge-base/case-study/reinforcing-stronger-infrastructure?sust[]=1165
It requires less maintenance and monitoring while also providing improved flow characteristics over rigid steel pipe.
https://www.avient.com/knowledge-base/case-study/reinforcing-stronger-infrastructure?pname[]=10716
It requires less maintenance and monitoring while also providing improved flow characteristics over rigid steel pipe.
https://www.avient.com/products/polymer-additives/surface-modifier-additives/cesa-anti-block-slip-ls
Improves flow and reduces the frictional resistance of end-product surfaces, enhancing both appearance and funtion.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520Credit%2520Suisse%2520-%2520June%25202015.pdf
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and
performance
PolyOne Corporation Page 18
Appendix
PolyOne Corporation Page 19
$0.17
$0.22 $0.24
$0.31
$0.44 $0.46
$0.00
$0.25
$0.50
Q1'10 Q1'11 Q1'12 Q1'13 Q1'14 Q1'15
Adjusted EPS
$30
$34
$25
$30
$35
Q1 2014 Q1 2015
GCAI Operating Income
(in millions)
$18
$23
$15
$20
$25
Q1 2014 Q1 2015
GSEM Operating Income
(in millions)
Q1 2015 Financial Highlights
Global Specialty Engineered
Materials’ operating margin of
16.3% above the 2015 target
Global Color Additives and Inks’
operating margin grew to 16.2%
First quarter adjusted EPS has
grown on average 23% per year
since 2010
+26%
+11%
PolyOne Corporation Page 20
Building &
7%
Electrical &
1%
31% Textiles
7%
12% 1.7%
4.6% 5.1% 5.5%
7.2% 8.1%
9.7%
12.2%
16.2%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 Q1
2015
2020
Operating Income % of Sales
At a Glance
Global Color, Additives and Inks
2014 Revenues: $0.9 Billion Solutions
Expanding Profits 2014 Revenue by Industry Segment
14.7%
Platinum
Vision
36%
PolyOne Corporation Page 21
4% Building &
18%
Electrical &
16%
At a Glance
Global Specialty Engineered Materials
2014 Revenues: $0.6 Billion Solutions
2014 Revenue by Industry Segment Expanding Profits
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6% 9.3%
16.3%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 Q1
2015
2020
Operating Income % of Sales
Platinum
Vision
12.1%
33%
19%
PolyOne Corporation Page 22
2% Building &
23%
27%
30%
96%
At a Glance
Designed Structures and Solutions
Solutions 2014 Revenues: $0.6 Billion
Expanding Profits 2014 Revenue by Industry Segment
1.4%
5.6%
7.3%
2.7%
12-14%
2012 2013 2014 Q1 2015 2020
Operating Income % of Sales
Platinum
Vision
PolyOne Corporation Page 23
Building &
33%
5% Electrical &
1%
11%
18%
16%
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3%
7.2% 6.5%
2006 2007 2008 2009 2010 2011 2012 2013 2014 Q1
2015
2020
Operating Income % of Sales
At a Glance
Performance Products and Solutions
Solutions
Expanding Profits
2014 Revenues: $0.8 Billion
10-12%
Platinum
Vision
2014 Revenue by Industry Segment
7.7%
PolyOne Corporation Page 24
Building &
13%
Electrical &
23%
15%
25%
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9% 5.9%
6.5-7.5%
2006 2007 2008 2009 2010 2011 2012 2013 2014 Q1
2015
2020
Operating Income % of Sales
15%
50%
2006 Q1 2015
At a Glance
Distribution
Key Suppliers 2014 Revenues: $1.1 Billion
ROIC Expanding Profits
6.1%
Platinum
Vision
http://www.avient.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 25
2 lbs Plastic
=
3 lbs aluminum
or
8 lbs steel
or
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight
than steel
93% less material by weight
than glass
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper
Source: SPI: Sustainability and the Plastics Industry
Plastics: Key to Future Sustainable Development
PolyOne Corporation Page 26
Commitment to Operational Excellence
81%
93%
2006 2014
16.2%
9.9%
2006 2014
On-Time Delivery
Working Capital % of Sales
5%
43%
2006 2014
Percent of Associates Trained in LSS
Four consecutive years – CFO Magazine
Best Working Capital Management in the
chemical industry
World’s Best Business
Process Excellence
Program in 2012*
103 trained Black Belts
247 trained Green Belts
127 trained Kaizen Leaders
World’s Best Start-up
Program for Lean Six Sigma
Deployment in 2009*
*Both awards received from International Quality and Productivity Center
PolyOne Corporation Page 27
Application Examples
PolyOne Corporation Page 28
$1.5 billion attractive, growing market
Additives improve performance and reduce cost
through light-weighting, reduced waste, faster
cycle times, and extended shelf life of finished
product
Aligned with megatrend of protecting the
environment:
Sustainability benefits include lower
package weight and improved recyclability
of package at end of use
Market Opportunity
Leading Global Supplier of Additives In Growing PET Market
Shelf-life extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat resistance
PET Bottling Technology
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2009 2014 2019
Asia Pacific North America
Latin America Western Europe
Eastern Europe Middle East and Africa
Global PET Packaging Growth 2009-2019
Source: Euromonitor retail off-trade consumption (PET bottles & jars, home care, personal care,
food & non-alcoholic beverages)
B
ill
io
n
un
its
5% CAGR
PolyOne Corporation Page 29
• Includes formulation and
consultative services to assist
manufacturers and brand owners in
positively identifying their finished
goods
• Protects brand equity & consumer
welfare
• Reduces exposure to unwarranted
recall expenses
• Secures supply chain integrity –
support for safe expansion into new
geographies
Authentication Technology
PolyOne Corporation Page 30
• Color harmonization across
15 unique color-and-polymer
combinations
• Eliminated need for multiple pre-
colored materials
• Reduced Land Rover’s working
capital
2015 Range Rover Evoque Interior
PolyOne Corporation Page 31
• Reduced health and
environmental impact
• System cost reduction
• Radiation-shielding
performance
• Parts consolidation
• Design freedom
CT Scanner
PolyOne Corporation Page 32
Metal Replacement Solutions
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with
fewer parts
• Weight reduction
• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 33
Next Generation Solar Charger
• Ginkgo Solar Tree charger utilizing our
unique reSound™ material
• reSound™ is a durable material
consisting of 50% bio-derived plastic
and 50% traditional petroleum-based
plastic
• Use of reSound™ reduced the carbon
footprint for this product by 35%
• reSound™ Is classified as a PolyOne
Sustainable SolutionSM PolyOne
Sustainable
SolutionSM
PolyOne Corporation Page 34
High-Barrier Packaging Containers
• Capability to extrude up to 13
layers
• Strong oxygen and moisture
vapor transmission protection
• Can be made symmetrical or
asymmetrical to meet
customized needs of broad
variety of applications
• Barrier protection and superior
organoleptic properties
PolyOne Corporation Page 35
Aerospace Applications
• Leading provider of specialty materials
for the aerospace industry
• Typical applications
Mil-spec aircraft windows, canopies,
windscreens, instrument panels,
wingtip lenses
Interior – gallery furnishings, tray
tables, arm rests, trim strips, joint/edge
coverings
• Benefits:
High impact strength
Resistant to UV rays
Flame and smoke compliance
Easy to clean with aggressive cleaners;
anti-microbial grades available
Range of sizes, thicknesses, colors, etc.
Net debt to adjusted EBITDA is calculated as follows:
Three Months
Twelve Months
Three Months
Trailing Twelve
Months (TTM)
(In millions) March 31, 2014 December 31, 2014 March 31, 2015 March 31, 2015
Short-term portion and current portion of
long-term debt $ 12.8 $ 61.8 $ 61.9
Long-term debt 968.1 962.0 1,049.2
Less: Cash and cash equivalents (238.3) (238.6) (226.4)
Net Debt $ 742.6 785.2 884.7
Income before income taxes $ 39.9 $ 88.4 $ 53.3 $ 101.8
Interest expense, net 15.5 62.2 16.1 62.8
Depreciation and amortization 32.8 123.9 25.1 116.2
Special items, impact on operating income 22.9 164.9 9.3 151.3
Accelerated depreciation included in special
items (6.8) (23.1) (0.1) (16.4)
Adjusted EBITDA $ 104.3 $ 416.3 $ 103.7 $ 415.7
Net Debt/TTM Adjusted EBITDA 2.1
POL IR Presentation - Credit Suisse - June 2015
��PolyOne Investor Presentation�Credit Suisse �Boston Basic Materials Conference �June 2015��
Forward-Looking Statements
Use of Non-GAAP Measures
PolyOne Commodity to Specialty Transformation
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Confirmation of Our Strategy
Strategy and Execution Drive Results
Proof of Performance & 2020 Goals
Platinum Vision: Pathway to Accelerated Growth
Innovation Drives Earnings Growth
Megatrends Aligned with Key End Markets
A Rich Pipeline of Opportunity
Debt Maturities & Pension Funding
Free Cash Flow and Strong Balance Sheet �Fund Investment / Shareholder Return
PolyOne Core Values
Why Invest In PolyOne?
Appendix
Q1 2015 Financial Highlights
At a Glance�Global Color, Additives and Inks
At a Glance�Global Specialty Engineered Materials
At a Glance�Designed Structures and Solutions
At a Glance�Performance Products and Solutions
At a Glance�Distribution
Plastics: Key to Future Sustainable Development
Commitment to Operational Excellence
Application Examples
Slide Number 28
Authentication Technology
2015 Range Rover Evoque Interior
Slide Number 31
Metal Replacement Solutions
Next Generation Solar Charger
High-Barrier Packaging Containers
Aerospace Applications
Credit Suisse - June 25 2015 r2
Credit Suisse - June 25 2015
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
Microsoft Word - Q4 release 2.14.23 430PM
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Fourth Quarter and Full Year 2022 Results
• Fourth quarter and full year GAAP EPS from continuing operations of $(0.19) and $0.90
• Fourth quarter and full year adjusted EPS from continuing operations of $0.39 and $2.69
exceeds prior guidance of $0.29 and $2.60 due to better-than-expected orders for personal
protection products from Avient Protective Materials (“APM”) and cost reductions
• On a pro forma basis, fourth quarter and full year adjusted EPS of $0.42 and $3.04 exceeded
prior guidance of $0.33 and $2.95, respectively
• Strong working capital performance to finish the year resulted in cash flow from operations of
approximately $400 million for 2022; full year free cash flow of approximately $290 million
• Paid down additional $200 million of debt for a year-end net debt-to-adjusted EBITDA of 2.9x
which improved from prior projections
• Earned fourth Great Place to Work® certification, achieving the highest employee
engagement scores in the history of the company
CLEVELAND – February 15, 2023 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable solutions, today announced its fourth quarter and full year results for
2022.
We
focused on controlling costs and reducing working capital, generating an additional $90 million of
free cash flow above our previous projections.
Reconciliation of Pro Forma Net Debt
December 31,
2022
Short-term and current portion of long term debt $ 2.2
Total long-term debt, net 2,176.7
Unamortized discount and debt issuance cost 37.4
Total debt $ 2,216.3
Cash (641.1)
Net taxes due from sale of business 105.0
Adjusted cash $ (536.1)
Net debt $ 1,680.2
16
Free Cash Flow Calculation
December 31,
2022
Cash provided by operating activities 398.4
Capital expenditures (105.5)
Free cash flow $ 292.9
Reconciliation to EBITDA and Adjusted EBITDA
Year Ended
December 31, 2022
Net (loss) income from continuing operations – GAAP $ 83.1
Income tax (benefit) expense (19.3)
Interest expense 119.8
Depreciation and amortization from continuing operations 162.5
EBITDA $ 346.1
Special items, before income tax 194.0
Interest expense included in special items (26.0)
Depreciation and amortization included in special items (5.5)
APM pro forma adjustments - 8 months 2022* 83.1
Adjusted EBITDA $ 591.7
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
https://www.avient.com/company/sustainability/sustainability-report/products/markets/packaging-case-study
The global preference for plastics in consumer packaging has led to explosive growth and the production of hundreds of millions of containers for different applications per year.
Along with the tremendous benefits that plastics bring to society, there is also a responsibility to ensure plastic waste does not end up in the environment.
Ultimate is recognized by the Association of Plastic Recyclers and the European PET Bottle Platform for having no negative impact on the recycling stream.
https://www.avient.com/news/avient-expand-color-concentrate-capabilities-vietnam
Demand for plastics has become one of the Vietnam economy’s fastest growth areas,” says Say-Eng Lee, vice president and general manager, Color & Additives Asia for Avient.
Notably, Avient’s sustainable color concentrates can also support steps within the country to encourage plastic waste recycling and reuse.
Avient employs approximately 9,100 associates and is certified ACC Responsible Care® and a founding member of the Alliance to End Plastic Waste.
https://www.avient.com/sites/default/files/2024-03/AVNT February IR Presentation_w_Non-GAAP Recs_v2.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization
expense associated with intangible assets.
3
AVIENT OVERVIEW
OUR VISION: Creating specialized and sustainable materials solutions that transform customer challenges into opportunities, bringing new products to life for a better world
2023 Financial ResultsCompany Overview Revenue By:
9,300
Employees
102
Manufacturing
Sites
20,000+
Customers
Key Highlights
Premier formulator of specialized
and sustainable materials solutions
Asset-light business model, with
flexibility to adapt to customer needs
Best-in-class technology and service
(140+ PhDs / 2,500+ patents)
History of transformation through
successful M&A while consistently
returning cash to shareholders
Poised for continued future growth in
excess of GDP
$3.14B
Revenue
$2.36
$502M
Adjusted EBITDA
16.0%
Adjusted EBITDA Margins
$186M
Adjusted Free Cash Flow
Over $1B in share
buybacks since 2011
Raised dividend for
13 consecutive years,
a 15% CAGR since
2011
U.S. &
Canada
64%
Specialty
Engineered
Materials
Color
Additives
and Inks
23%
10% 5% 4%
Building &
Energy Telecom
Geography
Segment
Industry
4
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
1. 6% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
Maintain asset-light, 80% free
cash flow conversion profile
5.
Free Cash Flow Calculation December 31, 2023
Cash provided by operating activities $ 201.6
Taxes paid on gain on sale of business 104.1
Adjusted cash provided by operating activities $ 305.7
Capital expenditures $ (119.4)
Free cash flow $ 186.3
Three Months Ended
Year Ended
2023 2022 2023 2022
Sales:
Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0
Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4
Corporate (0.2) (1.2) (2.8) (2.5)
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Operating income:
Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0
Specialty Engineered Materials 29.4 35.2 142.5 140.1
Corporate (48.1) (79.1) (205.6) (197.8)
Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3
Other expense, net: $ 4.3 $ (28.4) $ 5.8 $ (59.7)
Depreciation & amortization:
Color, Additives and Inks $ 22.2 $ 25.2 $ 98.3 $ 101.3
Specialty Engineered Materials 19.8 20.3 81.5 48.7
Corporate 2.2 3.1 9.0 12.5
Depreciation & amortization $ 44.2 $ 48.6 $ 188.8 $ 162.5
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 84.0 $ 69.5 $ 358.2 $ 402.3
Specialty Engineered Materials 49.2 55.5 224.0 188.8
Corporate (45.9) (76.0) (196.6) (185.3)
Other expense, net $ 4.3 $ (28.4) $ 5.8 $ (59.7)
EBITDA $ 91.6 $ 20.6 $ 391.4 $ 346.1
Special items in EBITDA 22.3 86.8 110.4 162.5
EBITDA - excluding special items $ 113.9 $ 107.4 $ 501.8 $ 508.6
APM pro forma adjustments - 8 months 2022* — — — 83.1
Pro forma EBITDA $ 113.9 $ 107.4 $ 501.8 $ 591.7
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
3
AVNT February IR Presentation_w_Non-GAAP Recs.pdf
AVNT February IR Presentation.pdf
Avient corporation�investor presentation
DISCLAIMER
Slide Number 3
Creating a world-class�sustainable organization
Top-tier sustainability performance�and recognition
Slide Number 6
Slide Number 7
Portfolio transformation
Slide Number 9
END MARKET observations�(% of company sales)
Regional observations�(% of company sales)
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
Slide Number 22
2023 segment, end market and Geography
Color, Additives & Inks
Specialty Engineered Materials
Slide Number 26
AVNT Q4 2023 Earnings Presentation.pdf
AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf
IR Deck - AVNT-2023.12.31 (2.12.24 9PM Milestone February 12 0905 pm).pdf
Attachment
3.26.24 - Public Lender Presentation Non-GAAP Attachments (005).pdf