https://www.avient.com/resource-center?document_type=221&document_subtype=0&industry=0&product_family=0&product_name=0&op=FILTER RESULTS&form_id=resource_filter_form&page=3
Discover how the right color formulation and experience bridge the gap between the art and science of PVC pipe manufacturing
https://www.avient.com/resource-center?document_subtype=0&document_type=221&form_id=resource_filter_form&industry=0&op=FILTER RESULTS&product_family=0&product_name=0&page=3
Discover how the right color formulation and experience bridge the gap between the art and science of PVC pipe manufacturing
https://www.avient.com/industries/consumer/consumer-discretionary/home-household/consumer-electronic-accessories
Hit the Right Notes for Portable Speakers
https://www.avient.com/industries/healthcare/medical-devices-equipment/rehabilitation-equipment
GLS™ Versaflex™ Thermoplastic Elastomer provided the right balance of haptics and fulfilled healthcare regulations
https://www.avient.com/investor-center/news/avient-appoints-ashish-k-khandpur-chief-executive-officer-effective-december-1-2023
During our extensive search process, it became clear to our Board that Ashish is the right person to lead
https://www.avient.com/investor-center/news/polyone-completes-sale-designed-structures-and-solutions
These acquisitions fit right into our sweet spot where we can add commercial and operational excellence resources to accelerate innovation and growth for our customers, employees and shareholders."
https://www.avient.com/products/polymer-colorants/color-additive-combination-masterbatches/smartbatch-combination-colorants-additives
Contact us today to learn more about Smartbatch solutions, and together we will select the right choice for your applications.
https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
2) Tax adjustments include the net tax benefit/ (expense) from one-time income tax items, the set-up or reversal of uncertain tax position reserves
and deferred income tax valuation allowance adjustments.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
September 30, 2022
December 31,
2021
ASSETS
Current assets:
Cash and cash equivalents $ 544.4 $ 601.2
Accounts receivable, net 504.6 439.9
Inventories, net 441.5 305.8
Current assets held for sale 367.8 360.2
Other current assets 130.0 119.9
Total current assets 1,988.3 1,827.0
Property, net 965.4 672.3
Goodwill 1,491.0 1,284.8
Intangible assets, net 1,525.7 925.2
Operating lease assets, net 56.0 58.2
Non-current assets held for sale — 22.0
Other non-current assets 280.7 207.7
Total assets $ 6,307.1 $ 4,997.2
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 613.9 $ 8.6
Accounts payable 448.7 429.5
Current operating lease obligations 18.1 21.1
Current liabilities held for sale 170.3 141.3
Accrued expenses and other current liabilities 304.6 340.2
Total current liabilities 1,555.6 940.7
Non-current liabilities:
Long-term debt 2,502.9 1,850.3
Pension and other post-retirement benefits 91.6 99.9
Deferred income taxes 210.4 100.6
Non-current operating lease obligations 35.7 37.3
Non-current liabilities held for sale — 13.1
Other non-current liabilities 174.8 164.8
Total non-current liabilities 3,015.4 2,266.0
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,720.4 1,774.7
Noncontrolling interest 15.7 15.8
Total equity 1,736.1 1,790.5
Total liabilities and equity $ 6,307.1 $ 4,997.2
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Nine Months Ended
September 30,
2022 2021
Operating Activities
Net income $ 158.5 $ 201.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 110.3 105.8
Accelerated depreciation 4.0 1.9
Share-based compensation expense 9.5 8.4
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (66.5) (199.7)
Increase in inventories (12.5) (156.2)
Increase in accounts payable 43.5 95.3
Decrease in pension and other post-retirement benefits (15.8) (14.2)
(Decrease) increase in accrued expenses and other assets and liabilities, net (7.1) 67.0
Net cash provided by operating activities 223.9 110.0
Investing activities
Capital expenditures (55.1) (62.7)
Business acquisitions, net of cash acquired (1,426.1) (47.6)
Settlement of foreign exchange derivatives 93.3 —
Net cash proceeds used by other assets — (2.0)
Net cash used by investing activities (1,387.9) (112.3)
Financing activities
Debt proceeds 1,300.0 —
Purchase of common shares for treasury (36.4) (4.2)
Cash dividends paid (65.2) (58.2)
Repayment of long-term debt (6.8) (16.5)
Payments of withholding tax on share awards (4.2) (9.1)
Debt financing costs (49.3) —
Other financing activities — (3.5)
Net cash provided (used) by financing activities 1,138.1 (91.5)
Effect of exchange rate changes on cash (30.9) (10.5)
Decrease in cash and cash equivalents (56.8) (104.3)
Cash and cash equivalents at beginning of year 601.2 649.5
Cash and cash equivalents at end of period $ 544.4 $ 545.2
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments;
intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the
measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2022-08/AVNT Aug 2022 Presentation - Jefferies.pdf
Commercial Excellence
Governs our activities in the marketplace to deliver extraordinary value to our customers.
Global Compact &
fulfilled Communication of Progress (COP)
requirements
• New Sustainability Strategy overview page including
our 2022 AIP ESG metrics
• New ESG Performance page with ESG ratings,
awards, and certifications
• Increased disclosures on carbon emissions, including
disclosure of Climate Change Scenario Analysis
• Added new Product Stewardship and Chemical
Management policies
• Enhanced data reporting for Workforce
Demographics
• Improved social disclosures on human rights,
dependent care and special leave and strategic
training management
2021 SUSTAINABILITY REPORT
Launching integrated sustainability website in parallel with report
Aligned with leading reporting frameworks
13
ESG PERFORMANCE & AWARDS
14
16th
ENVIRONMENTAL
SOCIAL
GOVERNANCE
1
(as of 6/30/22)
2022 O U T LO O K
$429
$490
$3.05
$3.50
FY 2022 GUIDANCE
(TOTAL COMPANY: CURRENT PORTFOLIO)
16
Sales Adjusted Operating Income
$4,819
$5,100
+ 6%
Adjusted EPS
+ 14% + 15%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 20% excluding FX)
17
CASH FLOW / LEVERAGE
($ 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 1.6x
18
DYNEEMA / DISTRIBUTION UPDATES
• Strong performance so far in 2022 in-line
with our modeling
• Acquisition to be finalized as early as
September 1, pending standard
regulatory process and closing conditions
• Encouraging interest thus far from
potential buyers for world-class business
with a strong track record
• Second round bids due in August
DISTRIBUTION
19
PRO FORMA MODELING UPDATE
2022E
($M)
Revenue 5,100$ 415$ 5,515$ (1,635)$ 3,880$
Adjusted EBITDA 635 130 765 (109) 656
EBITDA % 12% 31% 14% 7% 17%
Adj.
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Distribution business
DYN E E MA ACQ U I S I T I O N
32
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
33
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
34 Figures reflect 2022 expected sales
MIFOverview Competition Valuechain &
Go-to-market Strategy Innovation Financials
TECHNOLOGY
35
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
36
• 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
37
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
38
• 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
39
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
40
AVIENT’S COMPOSITES PORTFOLIO
SALES AND EBITDA
41
$74 $84
$216 $212
$261
$5 $10
$32
$41
$49
$180
0
50
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®
SEGMENT DATA
U.S. & Canada
50%
Latin America
2021 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
19%
Building and
END MARKET REVENUE
(1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs
$2,402M
$409M
$919M
$164M
$1,631M
$94M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$581M$4,819M
43
34%
Building &
1% Telecommunications
C O L O R , A D D I T I V E S & I N K S
2021 REVENUE | $2 .4 BILLION
32%
40%
Latin America
END MARKET REGION
44
S P E C I A LT Y E N G I N E E R E D M AT E R I A L S
27%
Building &
2021 REVENUE | $919 MILLION
END MARKET
55%
REGION
45
D I S T R I BU T I O N
26%
Building and
80%
3%
Latin
America
END MARKET REGION
K EY SU PPL IER S
2021 REVENUE | $1 .6 BILLION
46
TOTA L C O M PA N Y R E G I O N A L S A L E S
BY END MARKET
30%
26%Healthcare
14%
Building &
2% Energy
(16% of sales)
32%
Building &
(25% of sales)
47
19%
Building &
US &
Canada
(50% of sales)
38%
33%
Building &
LATAM
(9% of sales)
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2023-10/ISO 22000 Certificate.pdf
Certificate Number:
255 ISO2P
Date First Registered:
03/04/2023
Issued on:
11/04/2023
Valid until:
10/04/2026
Awarded to
AVIENT PAKISTAN (PVT) LTD
1A/1, Sector#20, Korangi Industrial Area, Sector 20 Karachi, Pakistan
In recognition of the Organization´s Food Safety Management System which complies with :
ISO 22000:2018
Food Category : I
For the scope of activities described below:
Manufacturing & Processing of Polymer Resins & Master batch
F-3/22/ A 100 Issue date : 06/2022 Version:03
It is mandatory to carry out the surveillance audit on its time.