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KEY REQUIREMENTS
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https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Press Release.pdf
CLEVELAND – November 2, 2023 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today announced its third quarter 2023 results.
https://www.avient.com/investors/
https://edge.media-server.com/mmc/p/ky9b3iov
https://www.avient.com/investors/
https://register.vevent.com/register/BIa7fc29ba31db4eec88eca2de2a3faa90
https://www.avient.com/investors/events-presentations
https://www.avient.com/news-events
4
About Avient
Avient Corporation (NYSE: AVNT) provides specialized and sustainable material solutions that
transform customer challenges into opportunities, bringing new products to life for a better world.
Examples include:
• Dyneema®, the world’s strongest fiber™, enables unmatched levels of performance and
protection for end-use applications, including ballistic personal protection, marine and
sustainable infrastructure and outdoor sports
• Unique technologies that improve the recyclability of products and enable recycled
content to be incorporated, thus advancing a more circular economy
• Light-weighting solutions that replace heavier traditional materials like metal, glass and
wood, which can improve fuel efficiency in all modes of transportation and reduce carbon
footprint
• Sustainable infrastructure solutions that increase energy efficiency, renewable energy,
natural resource conservation and fiber optic / 5G network accessibility
Avient is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic
Waste and certified Great Place to Work®.
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Presentation.pdf
$600 $592
$3.02 $3.04
FULL YEAR 2022 PERFORMANCE
(TOTAL COMPANY PRO FORMA)
15
Sales Adjusted EBITDA
$3,712 $3,653
-2%
Adjusted EPS
-1% + 1%
(in millions) (in millions)
(+4% excluding FX) (+5% excluding FX) (+9% excluding FX)
FULL YEAR 2022 SEGMENT PERFORMANCE
16
CAI
$2,402 $2,355
$409 $402
SEM Pro Forma
$1,308 $1,300
$278 $272
(+4% excluding FX)
- 2% -1%
(+5% excluding FX)
- 2%
(+4% excluding FX)
- 2%
(+2% excluding FX)
PRO FORMA FULL YEAR EPS BRIDGE
17
Pro Forma 2021 Adjusted EPS 3.02$
Foreign Currency (0.23)
Russia Import Sales (0.07)
Outdoor High Performance (0.13)
Color, Additives and Inks 0.18
Specialty Engineered Materials 0.24
Corporate Costs / Other 0.03
Pro Forma 2022 Adjusted EPS 3.04$
FULL YEAR EBITDA BRIDGE
(PRO FORMA TOTAL COMPANY)
18
$ millions
CAI:
Price / Mix 247
Inflation (176)
SEM:
Price / Mix 121
Inflation (77)
Net Price Benefit 115
Wage and Energy Inflation (47)
Clariant Color Integration Synergies 23
Incentives, Other Employee Costs 43
FX (34)
Full Year 2022 $592
Adjusted
Full Year 2021 $ 600
Demand (99)
Russia Import Sales (9) • Demand primarily impacted
by China lockdowns, 4th
quarter industrywide
destocking and declining
consumer sentiment
• Pricing outpaced inflation of
raw materials, wages and
energy
2023 G U IDA N CE
$125
$530
$0.55
$2.40
2023 GUIDANCE
20
Sales Adjusted EBITDA
$845
$3,450
Adjusted EPS
(in millions) (in millions)
CASH FLOW / BALANCE SHEET
21
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability, primarily
in Europe
($ millions) 2023E
Cash Flow from Operating Activities 350$
Less:
Run-Rate CapEx (110)
CapEx for IT System Upgrade (25)
CapEx for Restructuring (15)
Total CapEx (150)
Free Cash Flow 200$
Adjusted EBITDA 530$
Net Debt / Adjusted EBITDA 2.9x
K E Y G R O W T H D R I V E R S
A N D T R A N S F O R M E D
P O R T F O L I O
GROWTH DRIVERS: PROVEN SUCCESS
23 (1) Pro forma for the acquisition of Avient Protective Materials (APM)
COMPOSITES
$51
$84
$212
$668
HEALTHCARE
$108 $113
$231
$293
8-10%
ASIA/EMERGING REGIONS
$265
$358
$726
$830
12%
$340
$455
$790
$1,175
SUSTAINABLE SOLUTIONS
8-12%
(1) (1)(1)
(Sales in $ millions)
#1 Color Formulator
Dyneema® - World’s Strongest
Fiber™
#1 in Composites applications
for outdoor high performance
#1 in Performance Inks
Customized solutions
140+ PhDs on staff
Rapid development of
innovative products
Extensive patent (2,500+)
portfolio
33% Vitality Index
Better-positioned toward stable,
high-growth end markets
Consumer, packaging,
healthcare and defense comprise
nearly 60% of sales
Agnostic to raw materials,
helping all customers achieve their
goals
Broad portfolio of diversified
sustainable solutions
90%+ of our innovation pipeline
invested in sustainable solutions
Long-term growth rate well
above GDP with expectations of
8-12%
LEVERAGING OUR TRANSFORMED PORTFOLIO
24
Building &
4% Telecom.
2022 PF
$3.65B
sales
Leading Positions Sustainable SolutionsDiversified IndustriesSpecialty Formulator
(1) 2022 Pro forma for the acquisition of Avient Protective Materials
(2) 2020 Pro forma for the acquisition of Clariant Color
(1)(2)
$340M
$455M
$790M
2016 2018 2020PF 2022PF
$1,175M
P EE R C O M PAR IS O N S
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,450 and estimated run-rate CAPEX of $110M.
27
2
4 4
5 5 5
6
7 7
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Press Release_0.pdf
AVNT-2024.03.31-News Release
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces First Quarter 2024 Results
• First quarter GAAP EPS from continuing operations of $0.54 compared to $0.23 in the
prior year quarter
• First quarter adjusted EPS of $0.76 exceeded guidance of $0.68 primarily as a result of
better-than-expected customer demand from defense applications and lower raw
material costs
• First quarter adjusted EPS increased 21% over the prior year driven by improved
margins from lower raw material costs and favorable mix, and lower net interest
expense
• Revised 2024 full-year adjusted EPS guidance range to $2.50 to $2.65, from prior
guidance of $2.40 to $2.65 given strong first quarter results; Revised full-year guidance
range reflects 6% to 12% growth in adjusted EPS over the prior year
CLEVELAND – May 7, 2024 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable materials solutions, today announced its first quarter results for
2024.
About Avient
Avient Corporation (NYSE: AVNT) provides specialized and sustainable materials solutions that
transform customer challenges into opportunities, bringing new products to life for a better
world.
Examples include:
• Dyneema®, the world’s strongest fiber™, enables unmatched levels of performance
and protection for end-use applications, including ballistic personal protection, marine
and sustainable infrastructure and outdoor sports
• Unique technologies that improve the recyclability of products and enable recycled
content to be incorporated, thus advancing a more circular economy
• Light-weighting solutions that replace heavier traditional materials like metal, glass
and wood, which can improve fuel efficiency in all modes of transportation and reduce
carbon footprint
• Sustainable infrastructure solutions that increase energy efficiency, renewable
energy, natural resource conservation and fiber optic / 5G network accessibility
Avient is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic
Waste and certified Great Place to Work®.
https://www.avient.com/sites/default/files/2023-01/GeorgeInglis.pdf
GEORGE INGLIS
Vice President, Corporate Controller
George Inglis is Vice President, Corporate Controller of Avient Corporation, a premier
provider of specialized and sustainable material solutions and services.
https://www.avient.com/sites/default/files/2021-06/avient-design-versaflex-wet-grip-tpe-fishing-tool-grip-case-study-one-pager.pdf
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https://www.avient.com/sites/default/files/2022-07/Additives and Colorants for PP-R PP-RCT Pipes - Application Snapshot.pdf
AVIENT SOLUTION
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https://www.avient.com/sites/default/files/2022-02/Additives%20and%20Colorants%20for%20PP-R%20Pipe%20Systems%20Application%20Bulletin.pdf