https://www.avient.com/sites/default/files/2022-04/Avient Announces Agreement to Acquire Dyneema_0.pdf
In addition, a recording of the audio will be available for one week,
beginning at noon EST on Wednesday, April 20, 2022.
https://www.avient.com/sites/default/files/2024-07/Colorants _ Additives for Appliances Brochure.pdf
Using recycled materials is one
way to attract eco-conscious consumers, but also to prepare for possible future legislation as governing bodies
are looking to reduce carbon emissions.
https://www.avient.com/sites/default/files/resources/TRA%2520-%25202016%2520Plan%2520Summary.pdf
Materials or feedstock substitution
Product design or reformulation
Equipment or process modifications
Spill or leak prevention
Onsite reuse, recycling or recovery
Improved inventory management or purchasing techniques
Good operator practice or training
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actionplan.gc.ca
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Terms and Conditions Transparency
Version: 3.13.0
Identify at least one reason why no option to reduce the use or creation of this substance was
implemented at your facility:
Select the applicable reason or reasons **
There are no alternative processes and/or equipment identified, New equipment and/or processes were investigated, however, deemed
unfeasible
Explanation of the reasons why no option will be implemented
Rationale for why the listed options were chosen for implementation
General description of any actions undertaken by the owner and operator of the facility to reduce the use and creation of the toxic substance
at the facility that are outside of the plan
License Number of the toxic substance reduction planner who made recommendations in the toxic substance reduction plan for this
substance (format TSRPXXXX): *
TSRP0123
Name of the toxic substance reduction planner who made recommendations in the toxic substance reduction plan for this substance (First
Name Last Name)
Daryl Chartrand
License Number of the toxic substance reduction planner who has certified the toxic substance reduction plan for this substance (format
TSRPXXXX): *
TSRP0123
Name of the toxic substance reduction planner who has certified the toxic substance reduction plan for this substance (First Name Last
Name)
Daryl Chartrand
What version of the plan is this summary based on?
https://www.avient.com/sites/default/files/2022-03/Avient 2021 Annual Report.pdf
It’s one that is inclusive
and increasingly diverse.
While the impact of these risks
is difficult to predict, any one or more of them could adversely affect our future operations.
The Base Rate is a fluctuating rate equal to the greater of (i) the Federal Funds Rate plus one-
half percent, (ii) the prevailing LIBOR Rate plus one percent, and (iii) the prevailing Prime Rate.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520Investor%2520Day%25205-18-15.pdf
Van Hulle
President, Global Color, Additives & Inks
PolyOne Corporation Page 16
Building &
7%
Electrical &
1%
14%
31% Textiles
7%
2014 Revenue by
Industry Segment
2014 Revenues:
$0.9 Billion
At a Glance
Global Color, Additives & Inks
44%
Europe
36%
Latin America
PolyOne Corporation Page 17
A Case Study for Transformational Success
1.7%
4.6% 5.1% 5.5%
7.2%
8.1%
9.7%
12.2%
14.7%
2006 2007 2008 2009 2010 2011 2012 2013 2014
Operating Margin
$9
$26 $28 $25
$43
$50
$75
$104
$125
2006 2007 2008 2009 2010 2011 2012 2013 2014
Operating Income ($M)
•Cultural mindset shift
from volume to value
•Customer centric focus
and training
•Differentiation with
innovation and service
•Acquisitions expand
portfolio of technology
Global Color, Additives & Inks
PolyOne Corporation Page 18
395
262
2006 2014
From Volume…
(lbs in millions)
-34%
$94
$293
2006 2014
To Value
Gross Margin
($ in millions)
+210%
Global Color, Additives & Inks
PolyOne Corporation Page 19
Accelerating Growth
Global Color, Additives & Inks
Innovation
Market Growth/
Megatrends
Geographic
Expansion
Collaboration
PolyOne Corporation Page 20
Who We Are Growing With
Global Color, Additives & Inks
PolyOne Corporation Page 21
Innovation Pipeline Potential
Global Color, Additives & Inks
Addressable Market
($ millions) $300 $500 $400
Prototype Frame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
3
3
5
0
1
8
3 1 1
5
1
1
1
1
0
Breakthrough
Platform
Derivative
PolyOne Corporation Page 22
Megatrends Aligned with Key End Markets
Increasing
Energy
Efficiency
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
Global Color, Additives & Inks
PolyOne Corporation Page 23
$150M
Revenue
Potential
$500M
Revenue
Potential
Additive
Technologies InVisiOSM Color &
Design Services
Key Initiatives
Global Color, Additives & Inks
PolyOne Corporation Page 24
Innovation Market Growth /
Megatrends
Geographic
Expansion
Collaboration
Platinum Vision
1.7%
7.2%
14.7%
20%+
2006 2010 2014 2020
Platinum
Vision
World Class Operating Margin
Accelerating Growth
Global Color, Additives & Inks
PolyOne Corporation Page 25
Summary
• Global Capabilities
• Innovation Leader
• Collaboration – One PolyOne
Global Color, Additives & Inks
Color Matters
PolyOne Corporation Page 26
Global Specialty Engineered Materials
Craig M.
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; employee separation costs resulting from personnel reduction programs, plant phase-in 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, remediation costs 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; unrealized gains and losses from foreign currency option contracts; one-time, non-recurring items; and the effect of changes in accounting principles or other such
laws or provisions affecting reported results.
(2) Tax adjustments include the net tax expense (benefit) from one-time income tax items and deferred income tax valuations allowance adjustments.
https://www.avient.com/sites/default/files/2021-08/avient-cdp-climate-change-questionnaire-2021.pdf
As one of the world’s leading specialty polymer materials, services and solution companies,
Avient contributes to value creation with innovative and sustainable solutions for customers
from many industries.
One example if
the inability to obtain raw materials from our suppliers due to climate-related weather
events.
For instance, one of our innovative products can be found in
automotive parts.
https://www.avient.com/sites/default/files/2024-03/AS-FILED EF20024640 Avient Corp ARS.pdf
While the impact of these risks
is difficult to predict, any one or more of them could adversely affect our future operations.
Awards vest in one-third increments upon the later of the attainment of time-
based vesting over a three-year service period and stock price targets.
Restricted Stock Units
RSUs represent contingent rights to receive one common share at a future date provided certain vesting criteria are
met.
https://www.avient.com/sites/default/files/2023-06/AVIENT_TPEs and LSR eBook.pdf
One caveat: Typical TPE shrinkage is around 2% while that of substrate materials
is closer to 1%.
However, price
per pound is just one aspect of the overall cost.
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-earnings-presentation_0.pdf
D
is
t.
)
Avient reflects 2021 estimated revenue of $4,750M and estimated CAPEX of $80M (excludes one-time synergy capture CAPEX of $20M)
Avient Specialty
Other
Free Cash Flow Conversion (1)
2021E (%)
Being asset light helps us to generate
strong free cash flow that is in line
with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
HIGH FREE CASH FLOW
CONVERSION
Avient reflects 2021 estimated EBITDA of $580M and estimated CAPEX of $80M (excludes one-time synergy capture CAPEX of $20M)
86
92
85
82
79 77
74
89
83 82
80 79 79 78 78
72
33
en
t
(12)
Total Enterprise Value / 2021E EBITDA
Our current valuation with updated
guidance implies an EBITDA multiple
that is below specialty formulator
peers and the median of other
selected chemical / specialty
companies.
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
A recording of the webcast and the slide presentation will be available at
avient.com/investors/events-presentations immediately following the conference call and will be
accessible for one year.
Three Months Ended
December 31,
2022 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net (loss) income from continuing operations attributable to Avient
shareholders $ (17.0) $ (0.19) $ 11.2 $ 0.12
Special items, after tax (Attachment 3) 38.3 0.42 23.9 0.26
Amortization expense, after-tax 14.6 0.16 11.3 0.12
Adjusted net income / EPS $ 35.9 $ 0.39 $ 46.4 $ 0.50
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Year Ended
December 31,
2022 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 82.8 $ 0.90 $ 151.8 $ 1.65
Special items, after tax (Attachment 3) 116.2 1.26 50.0 0.54
Amortization expense, after-tax 49.0 0.53 44.9 0.49
Adjusted net income / EPS $ 248.0 $ 2.69 $ 246.7 $ 2.68
(1) Per share amounts may not recalculate from figures presented herein due to rounding
9
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2022 2021 2022 2021
Sales $ 790.4 $ 807.1 $ 3,396.9 $ 3,315.5
Cost of sales 618.4 590.5 2,514.2 2,371.7
Gross margin 172.0 216.6 882.7 943.8
Selling and administrative expense 171.6 166.4 639.4 664.1
Operating income 0.4 50.2 243.3 279.7
Interest expense, net (49.4) (17.5) (119.8) (75.2)
Other expense, net (28.4) (5.3) (59.7) (1.0)
(Loss) income from continuing operations before income taxes (77.4) 27.4 63.8 203.5
Income tax benefit (expense) 60.8 (17.1) 19.3 (51.9)
Net (loss) income from continuing operations (16.6) 10.3 83.1 151.6
Income from discontinued operations, net of income taxes 561.5 18.7 620.3 79.0
Net income 544.9 29.0 703.4 230.6
Net (income) loss attributable to noncontrolling interests (0.4) 0.9 (0.3) 0.2
Net income attributable to Avient common shareholders $ 544.5 $ 29.9 $ 703.1 $ 230.8
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations $ (0.19) $ 0.12 $ 0.91 $ 1.66
Discontinued operations 6.17 0.21 6.80 0.87
Total $ 5.98 $ 0.33 $ 7.71 $ 2.53
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations $ (0.19) $ 0.12 $ 0.90 $ 1.65
Discontinued operations 6.17 0.20 6.73 0.86
Total $ 5.98 $ 0.32 $ 7.63 $ 2.51
Cash dividends declared per share of common stock $ 0.2475 $ 0.2375 $ 0.9600 $ 0.8750
Weighted-average shares used to compute earnings per common share:
Basic 91.0 91.5 91.2 91.4
Diluted 91.0 92.4 92.2 92.1
10
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
December 31,
Year Ended
December 31,
2022 2021 2022 2021
Cost of sales:
Restructuring costs, including accelerated depreciation $ (21.3) $ (6.0) $ (31.1) $ (14.6)
Environmental remediation costs (0.4) (0.5) (24.2) (22.9)
Reimbursement of previously incurred environmental costs — — 8.3 4.5
Acquisition related costs (23.8) 0.6 (34.1) (0.6)
Impact on cost of sales (45.5) (5.9) (81.1) (33.6)
Selling and administrative expense:
Restructuring, legal and other (8.3) (4.2) (8.3) (5.9)
Acquisition related costs (6.1) (1.1) (19.3) (8.3)
Impact on selling and administrative expense (14.4) (5.3) (27.6) (14.2)
Impact on operating income (59.9) (11.2) (108.7) (47.8)
Interest expense, net - committed financing and debt extinguishment (16.0) — (26.0) —
Mark-to-market on derivatives — — (30.9) —
Pension and post retirement mark-to-market adjustment and other (28.4) (9.3) (28.4) (9.3)
Impact on Other expense, net (28.4) (9.3) (59.3) (9.3)
Impact on income from continuing operations before income taxes (104.3) (20.5) (194.0) (57.1)
Income tax benefit benefit/(expense) on above special items 26.8 4.1 49.4 13.0
Tax adjustments(2) 39.2 (7.5) 28.4 (5.9)
Impact of special items on net income from continuing operations $ (38.3) $ (23.9) $ (116.2) $ (50.0)
Diluted earnings per common share impact $ (0.42) $ (0.26) $ (1.26) $ (0.54)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.7 92.4 92.2 92.1
(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; settlement gains or losses and 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; and the effect of changes in accounting principles or other such laws or provisions affecting
reported results