https://www.avient.com/news/polyone-announces-strong-fourth-quarter-and-full-year-2013-results
PolyOne Corporation, with 2013 revenues of $3.8 billion, is a premier provider of specialized polymer materials, services and solutions.
Specialty Platform
Specialty Platform
https://www.avient.com/sites/default/files/2022-12/Mevopur Healthcare Colorants and Formulations_Functional Additives for IVD Devices Bulletin.pdf
Mevopur™ Healthcare Colorants and Formulations
and Mevopur™ Healthcare Functional Additives
for In Vitro Diagnostic Devices
Diagnostic devices and consumables, now more
than ever, play a vital role in delivery of safe
treatements.
KEY CHARACTERISTICS
• Manufactured at four ISO 13485 certified
manufacturing sites, providing global
consistency and increased security of supply
• Documented change control beyond CAS
number, reducing risk of change
• Non-phthalate and formulated without
animal-derived substances
• Available as concentrates or ready-to-use
formulations in a wide range of polymers
• Functionality and color can be combined in
one product for convenience
REGULATORY SUPPORT
• Raw materials tested to:
- ISO 10993-1 and USP biological
evaluation
- European Pharmacopeia 3.1.3/3.1.5
(polyolefin)
- USP (polyethylene)
- ICH Q3D elemental impurities
• Registered Drug Master File (Type III) and/or
Device Master File
• Documentation support for approval or
transition to comply with (new) regulations
such as IVDR
APPLICATION BULLETIN
Healthcare use limitations apply—see below.
FUNCTIONALITY TARGET APPLICATIONS BLOOD
COLLECTION
REAGENT
CONTAINERS/
KITS
PIPETTE/
LABWARE
SELF-TESTING/
POCT
INSTRUMENT/
ACCESSORIES
Colorants for coding
for lab automation/
identification
Wide range of colors in various polymers,
available in ready-to-use formulation or
concentrate adapted to your process
Colors –
low migration/
interference
Ready-to-use formulation to avoid
interference with analytical tests;
extractable metal data
Colors – biologically
evaluated
Reduced risk of non compliance to current
and proposed regulations such as IVDR
Color in PP, ABS, PC
and high temperature
polymers with
UL listings
Ready-to-use solutions/concentrates
supporting Underwriters Laboratory
requirements of electric enclosures
Antistatic for PP,
ABS, PC/ABS
Permanent/non-migrating ready-to-use
formulation; fast decay time independent
of % relative humidity
Clarifying PP Sorbitol-free, minimizing
potential migration
Laser marking for
UDI replacing ink
printing/labels
Activation of the polymer to laser energy
give high contrast solvent-free,
high speed identification
Laser welding for fast,
reliable assembly of
a range of polymers
Custom concentrates and ready-to-use
formulations for optically transparent
and opaque colors while allowing laser
transmission/absorption
Nucleation of
semicrystalline
polymers e.g.
https://www.avient.com/news/polyone-appoints-mark-crist-president-distribution-and-kurt-schuering-vice-president-global-key-account-management
PolyOne distributes a diverse portfolio of engineering and commodity grade polymers on behalf of its world-class suppliers in North America, Asia and Central America.
Crist spent 20 years with Nalco Chemical Company, serving in various sales, marketing and general manager roles focused on specialty markets in Europe and North America.
PolyOne Corporation, with 2013 revenues of $3.8 billion, is a premier provider of specialized polymer materials, services and solutions.
https://www.avient.com/idea/color-design
Polymer Additives
,
Polymer Colorants
|
Color & Design
,
Textiles
We’ve worked with numerous customers who have grappled with these same questions, applying our dedicated design and color resources together with our materials and formulation expertise, to balance user experience with competitive differentiation and the practical concerns of manufacturing.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520KeyBanc%2520Conference%2520-%2520September%252014%25202016.pdf
The non-GAAP financial measures
include: adjusted EPS, earnings before interest, tax, depreciation and amortization
(EBITDA) adjusted EBITDA net debt Specialty platform operating income(EBITDA), adjusted EBITDA, net debt, Specialty platform operating income
percentage, adjusted operating income, return on invested capital, net debt/ EBITDA
and adjusted gross margin
PolyOne Corporation Page 3
PolyOne Commodity to Specialty Transformation
2000-20052000-2005 2006 - 20092006 - 2009 2010 – 20152010 – 2015 2016 and
beyond
2016 and
beyond
• Steve Newlin
appointed, Chairman,
• Steve Newlin
appointed, Chairman,
• Substantial EPS growth
from $0.13 to all-time
high of $1.96
• Substantial EPS growth
from $0.13 to all-time
high of $1.96
• Deliver consistent
double digit annual
EPS growth
• Deliver consistent
double digit annual
EPS growth
• Volume driven,
commodity producer
• Volume driven,
commodity producer
pp , ,
President and CEO
• New leadership team
appointed
pp , ,
President and CEO
• New leadership team
appointed
• Shift to faster growing,
high margin, less
• Key acquisitions propel
• Shift to faster growing,
high margin, less
• Key acquisitions propel
• Maintain >35% vitality
index
• Pursue strategic
i iti th t
• Maintain >35% vitality
index
• Pursue strategic
i iti th t
• Heavily tied to
• Heavily tied to
cyclical end markets • Implementation of four
pillar strategy
• Implementation of four
pillar strategy
y q p p
current and future
growth, as well as
margin expansion
• Specialty mix expands
y q p p
current and future
growth, as well as
margin expansion
• Specialty mix expands
acquisitions that
expand specialty
offerings and
geographic breadth
acquisitions that
expand specialty
offerings and
geographic breadth
• Performance largely
dependent on non-
controlling joint
ventures
• Performance largely
dependent on non-
controlling joint
ventures
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
to 65% of Operating
Income – strongest mix
of earnings in history
to 65% of Operating
Income – strongest mix
of earnings in history
• Invest and grow
current and next
generation talent
• Invest and grow
current and next
generation talent
PolyOne Corporation Page 4
Confirmation of Our Strategy
SpecializationSpecialization GlobalizationGlobalization
Associates
Operational
Operational
Commercial
Commercial
Th W ld’ P i P id f S i li d
PolyOne Corporation Page 5
The World’s Premier Provider of Specialized
Polymer Materials, Services and Solutions
27 Consecutive Quarters of EPS Growth
PolyOne Corporation Page 6
PolyOne
At A Glance
2015 Revenues: $3.4 Billion2015 Revenues: $3.4 Billion 2015 Revenues: $3.4 Billion2015 Revenues: $3.4 Billion
7% PP&S
Distribution
29%
CAI
23%
SEM
%DSS
End MarketsEnd Markets Adjusted EPSAdjusted EPS
66% 15%DSS
End MarketsEnd Markets
$1.31
$1.80
Adjusted EPSAdjusted EPS
Textiles
$1.96
$0 27 $0 21
$0.68
$0.82
$1.00
$1.31
Building &
C
PolyOne Corporation Page 7
$0.12
$0.27 $0.21 $0.13
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
10%Electrical &
Mix Shift Highlights Specialty Transformation
Old
PolyOne
Transformation
2020
80%
nc
om
e*
pe
ra
tin
g
In
80%+
43%
65%
%
o
f O
2%0%
2005 2010 2015 2020
Specialty OI $5M $87M $229M Platinum
PolyOne Corporation Page 8
*Operating Income excludes corporate charges and special items
JV's Performance Products & Solutions Distribution Specialty
Color and Engineered Materials at the
Heart of Specialty Transformation
OPERATING MARGIN
16.7%
17.5%
20%+
COLOR, ADDITIVES
AND INKS
15 8%
20%+
SPECIALTY
ENGINEERED MATERIALS
12.2%
9.6% 9.3%
12.1%
15.8%
1 7%
4.6% 5.1% 5.5%
7.2%
8.1%
3.4%
5.1%
8.0%
8.6%
1.1% 1.3%
YTD YTD
PolyOne Corporation Page 9
Proof of Performance & 2020 Goals
2006 2Q 2016 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %1) Operating Income %
Specialty:
Color, Additives & Inks 1.7% 18.0% 20%+
S i lt E i d M t i l 1 1% 14 9% 20%+Specialty Engineered Materials 1.1% 14.9% 20%+
Designed Structures & Solutions N/A 1.7% (TTM) 8 – 10%
Performance Products &
Solutions 5.5% 12.3% 12 – 14%
Distribution 2.6% 6.5% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 61% 80%+
3) ROIC* 5.0% 12.0% 15%
4) Adjusted EPS Growth N/A 11% Double Digit
PolyOne Corporation Page 10
) j %
Expansion
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
TPE’s & Film
Therma-Tech™ & Sheet
GEON™ Vinyl
TPE + OnForce™
Gravi-Tech™
Polymer ColorantsTherma-Tech™
Film
PolyOne Corporation Page 11Page 11
Target End Markets… Healthcare
OnForce
TPE + OnForce
TPE Vibration Dampening
(SEM/GLS)
Source: Outdoor Industry Association
TPE & Film
(SEM + DSS)
Thermoplastic Elastomers
TPE O F
Polymer Colorants
(CAI)
Thermatech
TPE + OnForce
OnForce
Thermoplastic Elastomers
Sheet
(DSS)
Polymer Colorants
(CAI)
PolyOne Corporation Page 12
Target End Markets… Outdoor High Performance
Sound & Vibration
Management
Roof Systems
Management
Interior & Exterior Trim
Interior Structural
Components
Fuel Handling
Underhood
Components
g
SystemsAir management
Electronics & Cameras
Structural Braces
& Brackets
Lighting
Fluid Handling
PolyOne Corporation Page 13
Target End Markets… Automotive
ColorMatrix™
Amosorb™
ColorMatrix™
Ultimate™ UV
Oxygen Scavenger
Ultimate UV
Light Barrier
PreservaPak™
OnColor™
Smart Batch™
OnCap™
Laser Marking
Additives
VersaFlex™
TPE Cap Liner
PolyOne Corporation Page 14
Target End Markets… Packaging
Innovation Drives Earnings Growth
$53
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
34%
CAI & SEM
Gross Margin
Target ≥ 35%
$20
$53
43%
*Specialty Platform revenue from products introduced in last five years
2006 2015 2006 20152006 2015
Innovation Pipeline PotentialInnovation Pipeline Potential
PolyOne Corporation Page 15
Ours is Not a Cost Cutting Story
VolumeCommercial, R&D Adjusted
2,883
Volume
(lbs in millions)
$192
Commercial, R&D
and Marketing
Spending ($M)
$721
Adjusted
Gross Profit ($M)
-16%
+86%
+138%
2,414$103
$303
2006 20152006 2015 2006 2015
PolyOne Corporation Page 16
Design and Service as a Differentiator
Right Material &
Color
Desired
Product Design
Appropriate
Manufacturing Process
Connecting
Delivering Concept to
Commercialization
Connecting
the Dots with
iQ Design Labs and
InVisiO Color Design
PolyOne Corporation Page 17
CommercializationInVisiO Color Design
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
Providing training in Customer Centric Selling Skills with customers
On-Time Delivery Commitment to Operational Excellence
World’s Best Business
Process Excellence
Program in 2012*
World’s Best Start-up
program for Lean Six Sigma
Deployment in 2009*
81%
93%
2006 2015
Working Capital % of Sales
16.2%
52% of associates trained in LSS
PolyOne Corporation Page 18
2006 2015
Five consecutive years – CFO Magazine Best Working
Capital Management in the chemical industry
Debt Maturities & Pension Funding
102%
Pension Funding**
As of June 30, 2016
$700
$800 Debt Maturities
As of June 30, 2016
($ millions)
80%
90%
$547
$600
$600
$700
70%
$500
50%
$300
$400
30%
2008 2Q 2016
$200
2022 2023
Coupon Rate: LIBOR + 2 75% 5 250%
PolyOne Corporation Page 19
Net Debt / Adjusted EBITDA*= 2.3x
** includes US-qualified pension plans only*TTM 6/30/2016
Coupon Rate: LIBOR + 2.75% 5.250%
(3.50%)
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
Repurchased 17.3
million shares since
early 2013
10 0 million shares are Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Gro th
Share
Rep rchases
10.0 million shares are
available for
repurchase under the
current authorization
Growth Repurchases
Acquisitions Dividends
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
$0.32
$0.40
$0.48
$0.30
$0.40
$0.50
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material $0.24
PolyOne Corporation Page 20
$0.16
$
$0.10
2011 2012 2013 2014 2015 2016
solutions
Why Invest In PolyOne?
Addressable market exceeds $40 billion
St f d t t th t t t d ti 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
The New PolyOne: A Specialty Growth Company
g p g g g p
PolyOne Corporation Page 21
The New PolyOne: A Specialty Growth Company
Appendix
PolyOne Corporation Page 22
2Q 2016 Financial Highlights
Performance Products & Solutions
operating margin grew 370 basis $18
$16
$21
$22
PP&S Operating Profit
points year-over-year to 12.3%
$11
$16
$10
$14
SEM O ti P fit
SEM operating margin expanded 50
basis points to a record second
$19 $20
$21
$22
SEM Operating Profit
Adjusted EPS
quarter level of 14.9% $13
$10
$14
$0.37
$0.51
$0.57
$0.63
$0.45
$0.70
Adjusted EPS
Second quarter adjusted EPS has
grown on average 20% per year
PolyOne Corporation Page 23
$0.30
$
since 2012
Note: $ in millions, except per share data
Color, Additives and Inks
2015 Revenues: $0.8 Billion Solutions
48%
33%
16.7%
18.0%
20%+Operating Income % of Sales
Expanding Profits2015 Revenue by Industry Segment
Textiles
4.6% 5.1% 5.5%
7.2% 8.1%
12.2%
Building &
C i
PolyOne Corporation Page 24
Electrical &
1%
Specialty Engineered Materials
2015 Revenues: $0.5 Billion Solutions
49%49%
29%
14.7% 14.9%
20%+Operating Income % of Sales
2015 Revenue by Industry Segment Expanding Profits
19%
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6% 9.3%
12.1%Building &
Electrical &
PolyOne Corporation Page 25
Designed Structures and Solutions
Solutions2015 Revenues: $0.5 Billion
97%
8-10%
Operating Income % of Sales
Expanding Profits2015 Revenue by Industry Segment
Packaging
19%
1.4%
5.6%
7.3%
3.0%
1.0%Building &
Construction
Industrial
24% Transportation
33%
PolyOne Corporation Page 26
2012 2013 2014 2015 2Q'16 2020
Appliances,
Construction
Performance Products and Solutions
Solutions2015 Revenues: $0.7 Billion
79%
CanadaCanada
5% Transportation
19% Wire & Cable
12-14%
Operating Income % of Sales
Expanding Profits
12.3%
2015 Revenue by Industry Segment
Building &
Electrical &
El t i
1%
%
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3%
7.2%
8.3%7.7%
PolyOne Corporation Page 27
Distribution
Key Suppliers2015 Revenues: $1.0 Billion
24%
Building &
4%Consumer
13%Healthcare
Electrical &
23%
6 6%
6.5-7.5%
6 5%
Operating Income % of Sales53%
ROIC Expanding Profits
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9%
6.6% 6.5%
6.1%
PolyOne Corporation Page 28
2006 2Q 2016 Platinum
Plastics: Key to Future Sustainable Development
2 lbs Plastic
=
3 lbs aluminum
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper3 lbs aluminum
8 lbs steel
a pound of paper
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight75% less material by weight
than steel
93% less material by weight
than glass
PolyOne Corporation Page 29
than glass
Source: SPI: Sustainability and the Plastics Industry
Application Examples
PolyOne Corporation Page 30
Luxury Packaging
with Gravitech Density Modified Polymers
• Impart weight, sound and
metallic finish to caps andmetallic finish to caps and
closures for cosmetics and
spirits applications
• Elevate quality and prestige
perceptions amongperceptions among
high‐end consumers
• Eliminate time and cost
associated with secondary
operations and assembly
PolyOne Corporation Page 31
p y
Medical Device Housings
with Chemically Resistant Engineered Polymers
• Durable, long‐lasting products
stand up to the most
aggressive disinfectants
• Minimize environmental stress
cracking and discolorationg
• One of the broadest medically y
approved polymer and
colorant portfolios
PolyOne Corporation Page 32
Printed Circuit Boards
with Thermally Conductive Polymers
• Replaces metal by etchingReplaces metal by etching
circuit designs into thermally
conductive plastic
• Maintains heat transfer and
cooling capabilities of metals
• Reduces both weight and cost
• Increases the lifetime and
reliability of electronic systems
PolyOne Corporation Page 33
Color & Design Services
• Greater control of color
development and supply chain
• Work across entire design
process from concept to
commercialization
• Inspire creativity in the use of
polymer materials, colors
and effects
• Innovative brand differentiation
• Faster development timelines
PolyOne Corporation Page 34
• Faster development timelines
Outdoor Applications
• Leading provider of high
performance specialty materials
for the recreational and sports & p
leisure industry
• Well positioned across all segments
to address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
PolyOne Corporation Page 35
Source: Outdoor Industry Association
Fiber Colorants
Solutions for clothing, apparel, footwear, automotive & sporting goods
• ColorMatrix Fiber Colorant Solutions
Proprietary advanced liquid color
formulations and equipment enable
greater efficiency and productivity
Eliminates aqueous dyeing and its
associated wastewater treatment
• Solid Color Concentrates
Extrusion spun fibers colored viaExtrusion‐spun fibers colored via
solid masterbatch
PolyOne Corporation Page 36
PET Bottling Technology
• $1.5 billion attractive, growing market
Shelf‐life
extension
Weight
reduction
• Improve performance and reduce
cost through light‐weighting,
d d t f t l ti Greater product
consistency
l b l
Enhanced
product
aesthetics
reduced waste, faster cycle times
and extended shelf life
Recyclability and
reduced carbon
footprint
aesthetics
High heat
• Aligned with megatrend of facing
climate and resource challenges:
Color and
Special Effects
High heat
resistance Sustainability benefits include
lower package weight and
improved recyclability of package
at end of use
PolyOne Corporation Page 37
at end of use
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
l f f d• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 38
High-Barrier Packaging Containers
• Capability to extrude up to 13 layers• Capability to extrude up to 13 layers
• Strong oxygen and moisture vapor
transmission protectiontransmission protection
• Can be made symmetrical or
asymmetrical to meet customizedasymmetrical to meet customized
needs of broad variety of applications
• Barrier protection and superiorBarrier protection and superior
sensory properties
PolyOne Corporation Page 39
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented in accordance with U.S.
https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
Purchase price multiple rapidly declining on strength of
business and synergy capture
(1) Financial information is pro forma to include a full year of Clariant Color acquisition
11.9%
16.2%
2019PF 2021
EBITDA Margins
SPECIALTY TRANSFORMATION
7%
46%
66%
86%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2021 2022 PF
%
o
f A
dj
us
te
d
EB
IT
D
A(1
)
JVs Distribution Performance Products & Solutions Specialty
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution
(2)
29
12%
18%
16% 15% 15% 14% 14%
28% 28%
26%
25%
22% 21% 19%
16%
12%
9% 9%
Av
ie
nt
T
od
ay
Av
ie
nt
P
F
AV
Y
PP
G
KW
FU
PM C
E
AL
B
FM
C
AS
EC
EM
XL
U
SC
BN
U
VR
Median: 21%Median: 15%
2022 EBITDA MARGINS VS.
Financials are pro forma for the acquisition of Dyneema® and potential divestiture of Distribution
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
30
CULTURE AND PEOPLE
31
OUR SPECIALTY JOURNEY CONTINUES
32
• Dyneema® brings leading technology and brand with the World’s
Strongest Fiber™, deep history of application development and
strong management team focused on specialty applications
• Dyneema® transaction is aligned with our previously stated acquisition
goal of expanding our composites and fiber capabilities
• Similar to our other technology expansion acquisitions, Dyneema®
allows us to leverage our invest-to-grow strategy
• We plan to explore a possible sale of our Distribution business.
March 31, 2022
GAAP
Special
Adjusted
Operating Income $ 128.6 $ 7.8 $ 136.4
Income before income taxes $ 111.1 $ 7.7 $ 118.8
Income tax expense - GAAP (26.6) — (26.6)
Income tax impact of special items — (2.0) (2.0)
Tax adjustments — 1.5 1.5
Net income attributable to noncontrolling interests (0.3) — (0.3)
Net income attributable to Avient shareholders $ 84.2 $ 7.2 $ 91.4
EPS $ 0.91 0.08 $ 0.99
Weighted-average diluted shares 92.3 92.3 92.3
1
March 31, 2021
GAAP
Special
Adjusted
Operating Income $ 120.4 $ 2.4 $ 122.8
Income before income taxes $ 102.6 $ 2.4 $ 105.0
Income tax expense - GAAP (22.9) — (22.9)
Income tax impact of special items — (0.9) (0.9)
Tax adjustments — 1.1 1.1
Net income attributable to noncontrolling interests (0.4) — (0.4)
Net income attributable to Avient shareholders $ 79.3 $ 2.6 $ 81.9
EPS $ 0.86 0.03 $ 0.89
Weighted-average diluted shares 92.2 92.2 92.2
Year Ended
December 31, 2021
GAAP
Special
Adjusted
Operating income $ 381.2 $ 47.8 $ 429.0
Income from continuing operations before income taxes $ 304.6 $ 57.1 $ 361.7
Income tax expense - GAAP (74.0) — (74.0)
Income tax impact of special items — (13.0) (13.0)
Tax adjustments — 5.9 5.9
Net income attributable to noncontrolling interests 0.2 — 0.2
Net income from continuing operations attributable to Avient shareholders $ 230.8 $ 50.0 $ 280.8
EPS $ 2.51 0.54 $ 3.05
Weighted-average diluted shares 92.1 92.1 92.1
2
Reconciliation of EBITDA by Segment
March 31,
Year Ended
2022 2021 2021
Operating income:
Color, Additives and Inks $ 94.5 $ 88.8 $ 303.1
Specialty Engineered Materials 39.7 34.2 132.0
Distribution 24.2 24.0 93.2
Corporate and eliminations (29.8) (26.6) (147.1)
Operating income $ 128.6 $ 120.4 $ 381.2
Items below OI in Corporate:
Other income, net $ (0.6) $ 1.5 $ (1.3)
Depreciation & amortization:
Color, Additives and Inks $ 26.0 $ 27.4 $ 105.7
Specialty Engineered Materials 7.8 7.8 31.7
Distribution 0.2 0.2 0.8
Corporate and eliminations 3.8 1.7 7.7
Depreciation & Amortization $ 37.8 $ 37.1 $ 145.9
EBITDA:
Color, Additives and Inks $ 120.5 $ 116.2 $ 408.8
Specialty Engineered Materials 47.5 42.0 163.7
Distribution 24.4 24.2 94.0
Corporate and eliminations (26.0) (24.9) (140.7)
EBITDA $ 165.8 $ 159.0 $ 525.8
Reconciliation of Sales, Operating Income and EBITDA - Distribution
Year Ended
2006 2011 2016
Sales $ 732.8 $ 996.5 $ 1,071.0
Operating income 19.2 56.0 68.2
Depreciation & amortization 1.5 0.7 0.7
EBITDA $ 20.7 $ 56.7 $ 68.9
3
March 31,
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2021
Net income from continuing operations – GAAP $ 84.5 $ 79.7 $ 230.6
Income tax expense 26.6 22.9 74.0
Interest expense 16.9 19.3 75.3
Depreciation and amortization from continuing operations 37.8 37.1 145.9
EBITDA $ 165.8 $ 159.0 $ 525.8
Special items, before tax 7.7 2.4 57.1
Depreciation and amortization included in special items (2.1) (0.5) (1.7)
Adjusted EBITDA $ 171.4 $ 160.9 $ 581.2
4
Masseto IR Presentation - Final.pdf
Avient Corporation �specialty Portfolio Transformation Continues with Dyneema Acquisition
DISCLAIMER
Slide Number 3
Slide Number 4
Slide Number 5
Q1 2022 SALES AND OPERATING INCOME�(Total Company)
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Slide Number 10
FIT with Four Pillar Strategy
Dyneema® overview
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Slide Number 14
Dyneema® in the Value Chain
Demand trends
Products
Avient’s Existing Composites Portfolio
Avient’s Composites Portfolio�Sales and Ebitda
Distribution Divestiture Considerations
Distribution highlights
Dyneema® Transaction Overview
Capital structure / Leverage
Two-Year Leverage Goal
Pro forma modeling
Our Specialty Journey
Acquisition History
Clariant Color Acquisition
Specialty Transformation
2022 ebitda margins vs. peers
Culture and People
Our Specialty Journey continues
Slide Number 33
Avient Acquisition of Dyneema and Q1 2022 Results.pdf
Masseto IR Presentation - 4.19 (515pm) - with attachments.pdf
https://www.avient.com/products/thermoplastic-elastomers/versalloy-thermoplastic-elastomers
Specialty healthcare thermoplastic elastomers (TPEs) that deliver on performance and smooth surface aesthetics
High flow TPEs formulated to deliver a beautiful aesthetic finish
Versalloy formulation boosts productivity for medical hose manufacturer
https://www.avient.com/knowledge-base/article/understanding-tpe-material-and-performance-enabling-5g-technologies
Discover the effects of material formulations and thickness on dielectric performance
While rigid polymers are typically used for this because of their conductive and wireless properties, Avient has found additional value in low signal loss technology within its thermoplastic elastomer (TPE) portfolio.
a) what effect do thermoplastic elastomer (TPE) formulations have on the attenuation (energy absorption) of a signal ranging from 20-45 GHz?
https://www.avient.com/knowledge-base/article/understanding-tpe-material-and-performance-enabling-5g-technologies?rtype[]=1164
Discover the effects of material formulations and thickness on dielectric performance
While rigid polymers are typically used for this because of their conductive and wireless properties, Avient has found additional value in low signal loss technology within its thermoplastic elastomer (TPE) portfolio.
a) what effect do thermoplastic elastomer (TPE) formulations have on the attenuation (energy absorption) of a signal ranging from 20-45 GHz?
https://www.avient.com/knowledge-base/article/understanding-tpe-material-and-performance-enabling-5g-technologies?ind[]=21508
Discover the effects of material formulations and thickness on dielectric performance
While rigid polymers are typically used for this because of their conductive and wireless properties, Avient has found additional value in low signal loss technology within its thermoplastic elastomer (TPE) portfolio.
a) what effect do thermoplastic elastomer (TPE) formulations have on the attenuation (energy absorption) of a signal ranging from 20-45 GHz?