https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
FX)
$429
$490
$3.05
$3.50
FY 2022 PERFORMANCE
16
$4,819
$5,100
+ 6%
(+ 8% excluding FX)
Adjusted EPS
+ 14%
(+ 17% excluding FX)
+ 15%
(+ 18% excluding FX)
(in millions) (in millions)
Sales Adjusted Operating Income
17
CASH FLOW / LEVERAGE
($ millions) 2022E
Cash Flow from Operating Activities 400$
Less:
Run-Rate CapEx (90)
CapEx for Clariant Integration (10)
CapEx for IT System Upgrade (15)
Total CapEx (115)
Free Cash Flow 285$
Adjusted EBITDA 635$
Net Debt / Adjusted EBITDA 1.7x
DYN E E MA ACQ U I S I T I O N
19
15x stronger than steel
Reduces weight by 30% vs. other solutions
Well-maintained global asset base poised to serve growing demand
• Purchase price of $1.48B represents 11.4x multiple of
2022 EBITDA
• Acquisition will expand Avient’s composites and fiber
portfolio with Dyneema®, the World’s Strongest Fiber™
• $415M sales and 30%+ EBITDA margins; Immediately
accretive to pro forma 2022 EPS, adding $0.35
• 1,300 patents globally, ~50% of sales patent protected
• 1,000+ employees across global production network and
dedicated technology centers
• Composites platform will increase from $261M to $680M in
revenue and from $49M to $180M in EBITDA Indicates Dyneema® location
$175M
(42%)
$65M
(16%)
$175M
(42%)
2022E Sales By Region ($M)
(1) $0.35 EPS excludes intangible amortization
(2) Based on 2022 expected results
(1) (2)
(2)
FIT WITH FOUR PILLAR STRATEGY
20
Specialization
• Innovation-led organization with
tremendous intellectual property value in
trademarks, patents and “know-how”
• Deep history of application development
and premium, leading brand with the
World’s Strongest FiberTM
Globalization
• Global customer base with an
established presence across all major
geographic regions
• Global technology centers complement
existing Composites applications and
expertise
Operational
Excellence
• Best-in-class safety performance
• Well-run and maintained asset base fit to
serve future growth
• Highly effective and reliable supply chain
with emphasis on optimizing service to
customers
Commercial
Excellence
• Deep customer relationships extend
across the value chain and drive ability
to grow
• Offer a full suite of services with an active
role in design, development and
commercialization
People
Experienced and
talented associates
with a passion for
safety, specialization
and winning
DYNEEMA® OVERVIEW
K E Y I N D U S T R I E S
PERSONAL PROTECTION
Military • Law Enforcement • First
Responders Body Armor • Helmets •
Vehicle Protection
$215M
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
$130M
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
$70M
21 Figures reflect 2022 expected sales
MIFOverview Competition Valuechain &
Go-to-market Strategy Innovation Financials
TECHNOLOGY
22
1,200 1,300
2,500
Avient Dyneema Combined
Patents
• True specialty business – the World’s Strongest Fiber™
• Deep history of application development with customers,
strongest in the industry
• The only UHMwPE (ultra-high molecular weight polyethylene)
fiber producer that is backward integrated
o Provides innovation advantage through control of all steps of the process
• Complementary with our existing reinforced film expertise
(PolyStrand) and engineered fiber presences (Fiber-Line)
WINNING PROPERTIES
Ultra high strength vs. weight Highly flexible
Floats on water Chemically inert; no smell/taste and non-toxic
High resistance to UV radiation Self-lubricating, with low friction
One-of-a-kind technology
®
FORMULATION PROCESS
23
• Like Avient, Dyneema® offers similar
core competencies around formulation
and material science
• Technology that combines polymers and
fibers to provide specialized, high
performing solutions for customers
• Design capabilities ensure that
applications are highly customized for
the specified end use
DYNEEMA® IN THE VALUE CHAIN
24
UHMwPE
Fiber / Tapes
Military Personnel,
Law Enforcement
Heavy Marine,
Offshore Wind Energy
and Mooring,
Aquaculture
Outdoor,
Footwear, Apparel,
Inflatables
• Material Science
• Formulation
• Service
INTERMEDIATE MANUFACTURING
(CUSTOMERS) OEM / APPLICATION
DEMAND TRENDS
25
• Military spending and near-term demand for higher performing personal protection
products (like Dyneema®) expected to increase
o European NATO members annual defense spend expected to increase by up to 20%(1)
o Japan aiming to almost double defense spending over the next 5 years(2)
o Accelerated launch of next generation technology in North America
• Policy-driven demand for sustainable energy; growth in floating offshore wind
farms which require advanced, durable technology
o Offshore wind expected to grow at a CAGR of 32% with the level of annual installations
quadrupling over the next five years(3)
• Continued investment in aquaculture as a sustainable food source(4)
• Strong demand in outdoor high performance space across niche consumer
applications aligns with 10% growth assumption for Avient’s Composites portfolio
Sources:
(1) “Funding NATO”, NATO.int (April 1, 2022)
(2) “Japan Ruling Party Calls for Defense Spending Boost to 2% of GDP”, WSJ (April 21, 2022)
(3) “Global Wind Report 2021”, Global Wind Energy Council
(4) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries
26
A L I G N M E N T W I T H
S U S T A I N A B I L I T Y G O A L S
PRODUCTS
AVIENT’S EXISTING COMPOSITES PORTFOLIO
D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G
M A N U F A C T U R E R S A N D O E M S
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
27
AVIENT’S COMPOSITES PORTFOLIO
SALES AND EBITDA
28
$74 $84
$216 $212
$261
$5 $10
$32
$41
$49
$180
0
100
150
200
$-
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
$550
$600
$650
$700
$750
2017 2018 2019 2020 2021 2022E
$680
• Dyneema® acquisition will further
improve Composites EBITDA margins
to 26%
• Dyneema® will complement our
existing portfolio with deep formulation
expertise, innovative culture and
global commercial presence
• Composites will continue to be a key
growth driver to deliver future revenue
growth in excess of GDP
(1) Pro forma for the acquisition of Dyneema®
DISTRIBUTION DIVESTITURE
CONSIDERATIONS
DISTRIBUTION HIGHLIGHTS
30
$21
$57
$69
$94
$105
0
100
150
2006 2011 2016 2021 2022E
• Leading North American Distribution business with
longstanding blue-chip supplier and customer
relationships
• Commercial excellence and regulatory knowledge have
grown healthcare portfolio to over 25% of sales and
positioned business for long-term growth
• Highly specialized portfolio of engineered polymers along
with sustainable solution offerings
• Leading digital capabilities through Avient Now, allowing
enhanced visibility and 24/7 interface with customers
• 98% free cash flow conversion drives greater than 30%
after-tax return on invested capital (ROIC)
• Potential divestiture allows us to remain modestly
leveraged with net debt to adjusted EBITDA expected to
be 2.9x and positions us for further specialty growth in the
future
EBITDA (in $M)
DYNEEMA® TRANSACTION OVERVIEW
31
- $1.48B net purchase price
- Represents 11.4x expected 2022 EBITDA
- Committed financing in place
- Permanent financing to be combination of available cash on-hand, new
Senior Unsecured Notes, new Senior Secured Term Loan
- Potential proceeds from Distribution divestment could be used to pay down
near-term maturing debt
- Closing expected in second half of 2022, subject to regulatory
approvals and certain customary closing conditions
Transaction
Value
Financing
Closing
Conditions /
Timing
CAPITAL STRUCTURE / LEVERAGE
32
• Financing commitments secured from Morgan Stanley
and J.P.
https://www.avient.com/sites/default/files/2021-03/avient-antitrust-2021-update-neth-a4.pdf
Neem bij uw eerste gelegenheid contact op met de Juridische Afdeling van Avient en
documenteer het incident.
10
Noord-Amerika
Wereldwijd hoofdkantoor Avon
Lake, Verenigde Staten
33587 Walker Road Avon Lake,
OH, Verenigde Staten 44012
Gratis: +1-866-765-9663
Telefoon: +1-440-930-1000
Fax: +440 930 3064
Azië-Pacific
Regionaal hoofdkantoor
Shanghai, China
2F, blok C 200 Jinsu Road
Pudong, 201206 Shanghai,
China
Telefoon: +86 (0) 21 6028 4888
Fax: +86 (0) 21 6028 4999
Zuid-Amerika
Regionaal hoofdkantoor
Sao Paulo, Brazilië
Av.
https://www.avient.com/sites/default/files/2022-07/Avient 2021 Sustainability Report 7-26-22.pdf
Kaylee Donegan, Digital Marketing Specialist, Digital Insights, Corporate Marketing
EDUCATING
YOUNG
PROFESSIONALS
ON AVIENT
BENEFITS AND
LIFE SKILLS
401k
$
USING DIGITAL
PLATFORMS TO
BUILD AND GROW
THE NETWORK
OF YOUNG
PROFESSIONALS
800+ ASSOCIATES PARTICIPATED IN
HYPE EVENTS IN 2021
401k
$
Sustainability Report | 2021 30Sustainability Report | 2021 30
Workforce Demographics
Diversity
Leadership Diversity—CEO Direct Reports
Female 36.4%
Minority 27.2%
Female or Minority 63.6%
Diversity by Level—Female or Minority*
Directors, General Managers, VP/SVP 31%
Management 39%
Professionals 51%
Production Associates 47%
All Avient Associates 47%
Race & Ethnicity*
American Indian or Alaskan Native 0%
Asian 3%
Black or African American 11%
Native Hawaiian/Other Pacific Islander 0%
Two or More Races 1%
Hispanic or Latino 13%
White 72%
Global Associates by Age
Under 30 10%
30–50 57%
Over 50 33%
Turnover**
Total Global Turnover = 7.8%
U.S. & Canada 12.3% 13.0% 12.6%
Europe/Middle East/Africa 5.0% 4.6% 4.8%
Asia 9.2% 3.5% 6.6%
Latin America 5.7% 7.7% 6.5%
Global 8.5% 7.0% 7.8%
Under 30 23.0% 17.0% 20.1%
30–50 8.1% 5.4% 6.9%
Over 50 6.5% 7.5% 6.9%
Female 10.2% 9.3% 10.1%
Male 7.6% 6.9% 7.2%
New Hires***
New Hires as a % of Total Employee Population = 12.1%
Female or Minority* Under 30 30–50 Over 50
Direct (Hourly) 56.0% 34.8% 55.1% 10.1%
Indirect (Salaried) 49.7% 30.5% 59.0% 10.6%
Total 54.0% 33.1% 56.6% 10.3%
Employee Representation
Avient respects our associates' right to join or not join any lawful organization and comply
with all applicable laws pertaining to freedom of association and collective bargaining.
Mevopur™ ProTect Oxygen Scavenger extends shelf
life for PET pharma packaging by limiting oxygen (O2)
degradation for drugs and nutraceuticals stored in
bottles, even in transparent mono-layer versions.
Sustainability Report | 2021 46
https://www.avient.com/products/thermoplastic-elastomers/versaflex-hc-thermoplastic-elastomers
https://www.avient.com/products/engineered-polymer-formulations/eco-conscious-formulations/gravi-tech-lead-replacement-formulations
https://www.avient.com/products/polymer-additives/performance-enhancement-additives/withstand-antimicrobial-additives
https://www.avient.com/products/vivo-formulations-healthcare/neu-custom-capabilities
https://www.avient.com/mevopur-protect-oxygen-scavenger-avient-extends-shelf-life-pet-pharma-packaging
*Formulations are > 20% recycled content
Automotive/Transportation
Demanding transportation requirements are evolving quickly to meet energy efficiency standards.
https://www.avient.com/resources/safety-data-sheets?page=4486
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
SILCOPAS BLUE 283
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
https://www.avient.com/resources/safety-data-sheets?page=5350
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
MC-17071PE BLUE
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
https://www.avient.com/resources/safety-data-sheets?page=4513
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
SILCOPAS BLUE 91932
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
https://www.avient.com/resources/safety-data-sheets?page=5348
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
MC-14915PE BLUE
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
https://www.avient.com/resources/safety-data-sheets?page=5750
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
MD-17259 BLUE
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
https://www.avient.com/resources/safety-data-sheets?page=5349
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
MC-16173PE BLUE
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
https://www.avient.com/resources/safety-data-sheets?page=4465
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.
SILCOGUM BLUE 310
ASIA/PACIFIC: SDS for the Asia Pacific region can be obtained by contacting the appropriate regional office.