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https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
News Release - AVNT-2021.12.31-News Release
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Record Fourth Quarter and Full Year 2021 Results
Financial Performance
• Fourth quarter and full year sales increased 21% to $1.2 billion and 27% to $4.8 billion,
respectively
• Fourth quarter and full year GAAP EPS of $0.32 and $2.51 compared to $0.81 and $1.46 in
the prior year
• Fourth quarter and full year adjusted EPS increased 12% to $0.58 and 58% to $3.05,
respectively
• Initiates 2022 guidance of $5.1 billion in sales and $3.50 in adjusted EPS
Milestone Achievements
• Increased dividend on an annualized basis by 12% to $0.95; the 11th year in a row of an annual
increase
• Increased EBITDA contribution from Clariant acquisition from $133 to $205 million and
reduced net debt to adjusted EBITDA to 2.2x, one year ahead of schedule
• Joined the United Nations Global Compact, recognized as one of America’s Most Responsible
Companies by Newsweek, and earned the company's third consecutive Great Place to Work®
certification.
In addition, a recording of the audio will be available for one week, beginning at 11:00 a.m.
Three Months Ended
December 31,
Year Ended
December 31,
2021 2020 2021 2020
Sales:
Color, Additives and Inks $ 581.3 $ 525.8 $ 2,401.6 $ 1,502.9
Specialty Engineered Materials 228.2 190.6 918.9 708.8
Distribution 425.0 305.1 1,630.9 1,110.3
Corporate and eliminations (33.0) (24.5) (132.6) (79.9)
Sales $ 1,201.5 $ 997.0 $ 4,818.8 $ 3,242.1
Gross margin:
Color, Additives and Inks $ 164.5 $ 164.3 $ 727.5 $ 484.4
Specialty Engineered Materials 60.0 59.1 257.4 207.6
Distribution 36.5 32.4 155.8 124.0
Corporate and eliminations (7.9) (2.9) (41.1) (31.7)
Gross margin $ 253.1 $ 252.9 $ 1,099.6 $ 784.3
Selling and administrative expense:
Color, Additives and Inks $ 103.3 $ 106.8 $ 424.4 $ 303.6
Specialty Engineered Materials 31.2 28.7 125.4 113.2
Distribution 14.8 14.4 62.6 54.5
Corporate and eliminations 29.8 38.0 106.0 123.7
Selling and administrative expense $ 179.1 $ 187.9 $ 718.4 $ 595.0
Operating income:
Color, Additives and Inks $ 61.2 $ 57.5 $ 303.1 $ 180.8
Specialty Engineered Materials 28.8 30.4 132.0 94.4
Distribution 21.7 18.0 93.2 69.5
Corporate and eliminations (37.7) (40.9) (147.1) (155.4)
Operating income $ 74.0 $ 65.0 $ 381.2 $ 189.3
13
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current profitability
levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/2024-11/Edwards Ballistic Panel Case Study.pdf
THE CHALLENGE
Any military organization’s top priority is protecting
soldiers, and one necessary measure is critical
battlefield defense from enemy fire and explosive
events.
Army Corps of Engineers and Edwards
Design and Fabrication, Inc.
Army Corps Engineers’ Engineer Research and
Development Center (ERDC) Survivability Engineering
Branch enlisted the expertise of Edwards Design and
Fabrication, an Alabama-based equipment fabricator for
commercial and government research and development
organizations.
https://www.avient.com/news/polyone-joins-uk-plastics-pact-advance-circular-economy-goals
This one is unique because it unites governments, local authorities, NGOs, and businesses involved in producing, selling, collecting, and reprocessing plastic.
Our sustainability efforts are focused on the four cornerstones of People, Product, Planet and Performance, and signing the UK Plastic Pact is one additional way for us to advance the Planet component,” said Walter Ripple, vice president, Sustainability at PolyOne.
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1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from
personnel reduction programs, plant realignment costs, executive separation agreements; asset impairments; mark-to-market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation
costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or
disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; the effect of changes in accounting principles or other
such laws or provisions affecting reported results and tax adjustments.
Tax adjustments include the net tax expense/benefit from one-time income tax items, the set-up or reversal of uncertain tax position reserves and deferred income tax valuation allowance
adjustments.
Segment Highlights
At a Glance: Color, Additives & Inks
At a Glance: Specialty Engineered Materials
At a Glance: Designed Structures & Solutions
At a Glance: Performance Products & Solutions
At a Glance: Distribution
Application Examples
Luxury Packaging�with Gravitech Density Modified Polymers
Optimize Color Usage�with OnColor Super Concentrates
Combat Bacteria Formation�with WithStand Antimicrobial Technology
Medical Device Housings�with Chemically Resistant Engineered Polymers
Color & Design Services
Outdoor Applications
Fiber Colorants�Solutions for clothing, apparel, footwear, automotive & sporting goods
High-Barrier Packaging Containers
Investor Presentation - January 2017 r14
Investor Presentation - January 2017
https://www.avient.com/sites/default/files/2023-03/Avient Annual Report 2022.pdf
Any such provision is
recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated
range, when a single best estimate is not determinable.
We searched publicly
available information that might indicate facts contrary to the cost estimates and timeline
used to determine the Calvert City accrual.
Any such provision
is recognized using the Company's best estimate of the amount of loss incurred, or at the lower end of an estimated
range, when a single best estimate is not determinable.
https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/yarn-compression-packing
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https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/gravi-tech-rec-recycled-formulations
Gravi-Tech™ REC recycled formulations are density modified engineered polymers based on recycled resin and/or filler from post-industrial recycled (PIR) and/or post-consumer recycled (PCR) sources, including ocean bound plastic waste.
Sustainable Engineered Polymers
Discover sustainable specialty engineered polymers from Avient.
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Fiber-Line™ engineered fiber solutions are designed to meet the most specific and demanding requirements