https://www.avient.com/sites/default/files/2023-07/Nymax REC - Battery Frame - Case Study Snapshot.pdf
BOS
B A T T E R Y S F R A M E
• Recycled materials where possible
• Non-halogen flame retardant performance to V0 rating
• BOS company color RAL9004 (on visible parts)
• Thermal performance for some parts
• High strength at low thickness for load-bearing parts
• Provided multiple polymer solutions for the battery frame
including recycled nylon, thermoplastic elastomers and
thermally conductive formulations
• Utilized recycled nylon with up to 35% glass fiber content
to provide high strength for load-bearing parts at a low
thickness to minimize weight
• Enabled customer to launch a new innovative battery
system with a modular design for use in multiple
applications – maximizing the working life of the battery
Nymax™ REC Recycled Nylon Formulations and
Therma-Tech™ Thermally Conductive Formulations
KEY REQUIREMENTS
WHY AVIENT?
AVIENT SOLUTION
LIGHTWEIGHT + RECYCLED MATERIALS
LEARN MORE
Copyright © 2023, Avient Corporation.
https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/nymax-rec-recycled-nylon-formulations
Bos
https://www.avient.com/sites/default/files/2020-07/rpet-solutions-brochure.pdf
We have come to rely
on this common plastic because it is
convenient, lightweight, safe, cost
effective and highly recyclable.
Color
consistency;
recycle stream
impact
ColorMatrix™
SmartHeat RHC Tint
or
SmartHeat RHC Tone
Recycle-friendly color or toner
containing SmartHeat RHC,
which helps to reduce carbon
emissions and improve the
quality and performance of
rPET, allowing for higher levels
of rPET to be used.
Provides all benefits of
SmartHeat RHC while also producing
a toning or color effect with
no detrimental impact on the
recycle stream.
https://www.avient.com/sites/default/files/2022-05/reSound R - Bic Razor Handle - Application Snapshot_NEW.pdf
BIC
S O L E I L C L I C K 5 W O M E N ’ S
R A Z O R H A N D L E
• Recycled material
• Good colorability
• Soft, grippy feel for razor handle
• Overmolds on to ABS
• Comparable performance to traditional TPE
• Collaborated with BIC to develop a custom
thermoplastic elastomer grade with 62% recycled
content
• Enabled BIC to work towards its sustainability
commitment to use 50% non-virgin petroleum
plastic by 2030
• Increased overall recycled content in the Soleil
Click 5 Women’s Razor to 40%
Custom reSound™ REC Recycled Content
TPE
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/products/thermoplastic-elastomers/resound-r-recycled-content-thermoplastic-elastomers
BIC
https://www.avient.com/sites/default/files/2024-01/AVNT January IR Presentation_w Non-Gaap Recs.pdf
PRIOR YEAR
$790
$710
2022 2023
$107
$112
2022 2023
Sales Adjusted EBITDA
$0.42
$0.47
2022 PF 2023
- 10% + 5% + 12%
Sales Adjusted EBITDA Adjusted EPS
16
$112
$500
$0.47
Q4 AND FULL YEAR 2023 GUIDANCE
$710
$3,130
Sales Adjusted EBITDA Adjusted EPS
17
(in millions) (in millions)
Guidance: Free Cash Flow
$180 $180
Prior Guidance Guidance
FREE CASH FLOW & INCREASED DIVIDEND
13th Consecutive Dividend Increase
0.16
0.26
0.42
0.58
0.79
0.85
0.99
1.03
2011 2013 2015 2017 2019 2021 2023 2024
S U S TAI NABI L I T Y DAY
RE CAP
SUSTAINABILITY AS A GROWTH DRIVERLONG-TERM REVENUE GROWTH DRIVERS
60%+
Key Growth
Drivers
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
(GDP Growth)
Total Company Revenue
Growth Drivers Long-Term
Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other (GDP growth) 0–2%
Avient 6%
SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH
8-12%
Long Term
Growth
50
90
2022 2030
Medical Plastics
Market Size
(in $Billions)
2020 2030
Recycled
Plastics
Virgin
Plastics
Growing Demand
for Recycled
Content
Avient Sustainable
Solutions
46
2023 2032
Global Offshore Annual
Wind Installations
(in Gigawatts)
Sources: McKinsey, Bloomberg, Grand View Research
SUSTAINABILITY TRENDS DRIVE
LONG-TERM GROWTH
21
• Transformative acquisitions
combined with divestitures of
more cyclical businesses have
improved margins over 400 bps
since 2018
• 20% long-term margin goal to
be driven by key growth drivers,
with sustainable solutions
playing a meaningful role
5.4%
11.5%
2006 2018 2023E Recovery Growth
Drivers
Strategic
Objective
20%+
+1%+
+3%+
ADJUSTED EBITDA MARGIN EXPANSION
22
• 6% annualized long-term sales growth leveraging
sustainable solutions, composites, healthcare, and
emerging regions
• Expand EBITDA margins to 20%
• Deliver annual EBITDA and EPS growth of
10% and 15%
• Maintain asset-light, 80% free cash flow conversion
profile and be valued as a specialty formulator
• Continue fostering our Great Place to Work® culture
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
23
PEER COMPARISONS
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,130 and estimated run-rate CAPEX of $110M.
26
3.5
1.8
2.7
3.1 3.3 3.7
3.0
3.7
4.7 4.8
6.8 6.8
8.7
11.1
Av
ie
nt
AV
PM FM
N C
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Avient 2011, 2018 and 2021 multiples reflect trailing 12 months EBITDA at December 31.
28
EV / 2023E EBITDA
6.5
8.5
11.0 10.8
16.1 15.5
14.1 14.0
10.3
21.0
19.0
14.3
12.1 11.8 11.7 11.5
9.7
11
21
23
PM AV
FM
Avient Historic Multiple
Avient Specialty
Other Specialty /
AP P E N DI X
30
Performance
Additives
16%
Pigments
12%
TiO2
Dyestuffs
2%
Polyethylene
Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
33%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
2022 pro forma results for the acquisition of Avient Protective Materials
RAW MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
40%
37%
18%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Building and
END MARKET REVENUE
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
9%
32
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
2022 REVENUE | $2 .4 BILLION
US & Canada
34%
38%
END MARKET REGION
33
34%
21%
Building &
1% Energy
2%
COLOR, ADDITIVES & INKS
2022 PRO FORMA REVENUE | $1 .3 BILLION
US & Canada
52%
35%
34
19%
8%Industrial
16%
9% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
9%
2022 PROFORMA AVIENT REGIONAL SALES
27%
14%
17%
Building &
(37% of sales)Transportation
12%
Building &
US &
Canada
(40% of sales)
7%
56%
23%
7%
Building &
1%
LATAM
(5% of sales)
3%
35
BY END MARKET
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/2022-04/Sustainable Material Answers_ Circular Economy 2022.pdf
In the circular scenario, which repeats again and again, resources are used to
create products, those products are reclaimed and/or recycled via collection
infrastructures, and the resulting recyclate is then formed into more products.
If not recycled properly, plastics can ends up in a landfill or, even worse,
the ocean.
For instance, recycling technology and
infrastructure must be further advanced in order to sustain a circular economy.
https://www.avient.com/products/engineered-polymer-formulations/conductive-signal-radiation-shielding-formulations/edgetek
Gravi-Tech™ REC Recycled Formulations
Maxxam™ REC Recycled Polyolefin Formulations
Nymax™ REC Recycled Nylon Formulations
https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives
Gravi-Tech™ REC Recycled Formulations
Maxxam™ REC Recycled Polyolefin Formulations
Nymax™ REC Recycled Nylon Formulations
https://www.avient.com/products/polymer-additives/anti-counterfeiting
Gravi-Tech™ REC Recycled Formulations
Maxxam™ REC Recycled Polyolefin Formulations
Nymax™ REC Recycled Nylon Formulations
https://www.avient.com/products/advanced-composites/continuous-fiber-composite-tape-laminates-and-barstock
Gravi-Tech™ REC Recycled Formulations
Maxxam™ REC Recycled Polyolefin Formulations
Nymax™ REC Recycled Nylon Formulations
https://www.avient.com/products/polymer-additives/foaming-agents
Gravi-Tech™ REC Recycled Formulations
Maxxam™ REC Recycled Polyolefin Formulations
Nymax™ REC Recycled Nylon Formulations