https://www.avient.com/sites/default/files/2024-01/AVNT January IR Presentation_w Non-Gaap Recs.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
We also monitor earnings (defined as net income from continuing operations) before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA (EBITDA before the impact of special items) as a supplement to our GAAP measures.
Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Reconciliation to Condensed Consolidated Statements of Income: $ EPS $ EPS Net income (loss) from continuing operations attributable to Avient shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30) Special items, after tax 32.0 0.35 68.3 0.75 Amortization expense, after-tax 15.2 0.16 $ 13.4 $ 0.14 Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59 Three Months Ended September 30, Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 Sales - GAAP $ 753.7 $ 823.3 Pro Forma APM adjustments — 60.7 Pro forma adjusted sales $ 753.7 $ 884.0 Net income from continuing operations – GAAP $ 5.1 $ (27.8) Income tax (benefit) expense (0.1) (1.2) Interest expense, net 30.3 37.3 Depreciation and amortization 46.4 39.8 EBITDA from continuing operations $ 81.7 $ 48.1 Special items, before tax 43.2 82.0 Interest expense included in special items (2.2) (10.0) Depreciation and amortization included in special items — (0.8) Adjusted EBITDA $ 122.7 $ 119.3 Pro forma APM adjustments — 17.2 Pro forma adjusted EBITDA $ 122.7 $ 136.5 Pro forma adjusted EBITDA as a % of sales 16.3 % 15.4 % 1 Year Ended December 31, Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018 Sales $ 2,622.4 $ 3,533.4 Net income from continuing operations – GAAP $ 133.5 $ 160.8 Income tax expense 29.7 36.4 Interest expense, net 63.1 62.8 Depreciation and amortization 57.1 91.5 EBITDA from continuing operations $ 283.4 $ 351.5 Special items, before tax (34.0) 59.5 Depreciation and amortization included in special items — (3.0) JV - equity income (107.0) — Adjusted EBITDA $ 142.4 $ 408.0 Adjusted EBITDA as a % of sales 5.4 % 11.5 % Reconciliation to EBITDA and Adjusted EBITDA: Three Months Ended December 31, 2022 Net loss from continuing operations – GAAP $ (16.6) Income tax benefit (60.8) Interest expense, net 49.4 Depreciation and amortization 48.6 EBITDA from continuing operations $ 20.6 Special items, before tax 104.3 Interest expense included in special items (16.0) Depreciation and amortization included in special items (1.5) Adjusted EBITDA $ 107.4 Reconciliation of Pro Forma Adjusted Earnings per Share: Three Months Ended December 31, 2022 Net loss from continuing operations attributable to Avient shareholders $ (17.0) Special items, after tax 38.3 Amortization expense, after-tax 14.6 Adjusted net income from continuing operations excluding special items 35.9 Pro forma adjustments* 2.5 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 38.4 Weighted average diluted shares 91.7 Pro forma adjusted EPS - excluding special items pro forma for APM acquisition $ 0.42 * Pro forma adjustment to reflect APM results for the period before Avient ownership including the impacts of debt financing and paydown of debt with net proceeds from the Distribution sale. 2 AVNT January IR Presentation.pdf Avient corporation�investor presentation DISCLAIMER Slide Number 3 Creating a world-class�sustainable organization Top-tier sustainability performance�and recognition What we do: We are a formulator Slide Number 7 Avient protective materials �First Year Slide Number 9 Slide Number 10 Slide Number 11 Slide Number 12 Slide Number 13 Slide Number 14 Slide Number 15 Slide Number 16 Slide Number 17 Slide Number 18 Slide Number 19 Slide Number 20 Slide Number 21 Slide Number 22 Slide Number 23 Slide Number 24 Slide Number 25 Avient is asset light Free cash flow conversion Multiple expansion Slide Number 29 Slide Number 30 Slide Number 31 2022 pro forma segment, end market and Geography Color, Additives & Inks Specialty Engineered Materials Slide Number 35 IR Deck - AVNT-2023.09.30 Non GAAP Recs.pdf Attachment
https://www.avient.com/sites/default/files/2023-08/QRG for suppliers on invoicing%5B50%5D.pdf
Line # Invoice line number.
PO Line # PO line number.
Applicable tax rates are determined by the tax code on the invoice.
https://www.avient.com/sites/default/files/2022-05/DOC 1879.pdf
Total Number of Shifts We do not provide this information on surveys.
Yes, SAP controls identification and Traceability Where traceability is required and applicable, does the company have a procedure to provide unique identification of individual products or batches?
Yes, materials contain a finished good code, Lot Number, and batch number Does Avient have controlled and monitored finished good storage conditions to ensure packaging is able to withstand environmental extremes and materials are not damaged or deteriorated?
https://www.avient.com/sites/default/files/2020-03/2020proxy.pdf
Tax Considerations.
Tax Gross-ups.
Withholding Taxes. 17.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
We also monitor earnings (defined as net income from continuing operations) before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA (EBITDA before the impact of special items) as a supplement to our GAAP measures.
Three Months Ended March 31, 2022 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Items Adjusted Results 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 Three Months Ended March 31, 2021 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Items Adjusted Results 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 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Items Adjusted Results 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 Three Months Ended March 31, Year Ended December 31, 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 December 31, 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 Three Months Ended 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 AVNT May IR Presentation.pdf Avient Corporation �investor meetings DISCLAIMER Avient: Who We Are Who we are – Vision, Strategy, Culture What we do: material science Sustainability for a Better Tomorrow Slide Number 7 Slide Number 8 Slide Number 9 Slide Number 10 Q1 2022 SALES AND OPERATING INCOME�(Total Company) Slide Number 12 Slide Number 13 Slide Number 14 Slide Number 15 Slide Number 16 Slide Number 17 Slide Number 18 Slide Number 19 FIT with Four Pillar Strategy Dyneema® overview Slide Number 22 Slide Number 23 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 Culture and People Our Specialty Journey continues Slide Number 41 PEER COMPARISONS Avient is asset light High free cash flow conversion 2022 ebitda margins vs. peers Our valuation versus peers Slide Number 47 Slide Number 48 Slide Number 49 �2021 segment, end market and Geography Slide Number 51 Slide Number 52 Slide Number 53 Slide Number 54 Masseto IR Presentation - 4.19 645pm w Non GAAP Recs.pdf Masseto IR Presentation - 4.19 (515pm) - with attachments.pdf
https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
We also monitor earnings (defined as net income from continuing operations) before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA (EBITDA before the impact of special items) as a supplement to our GAAP measures.
Three Months Ended March 31, 2022 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Items Adjusted Results 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 Three Months Ended March 31, 2021 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Items Adjusted Results 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 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Items Adjusted Results 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 Three Months Ended March 31, Year Ended December 31, 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 December 31, 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 Three Months Ended 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) Slide Number 7 Slide Number 8 Slide Number 9 Slide Number 10 FIT with Four Pillar Strategy Dyneema® overview Slide Number 13 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/sites/default/files/2023-11/AVNT November IR Presentation.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
We also monitor earnings (defined as net income from continuing operations) before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA (EBITDA before the impact of special items) as a supplement to our GAAP measures.
Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Reconciliation to Condensed Consolidated Statements of Income: $ EPS $ EPS Net income (loss) from continuing operations attributable to Avient shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30) Special items, after tax 32.0 0.35 68.3 0.75 Amortization expense, after-tax 15.2 0.16 $ 13.4 $ 0.14 Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59 Three Months Ended September 30, Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 Sales - GAAP $ 753.7 $ 823.3 Pro Forma APM adjustments — 60.7 Pro forma adjusted sales $ 753.7 $ 884.0 Net income from continuing operations – GAAP $ 5.1 $ (27.8) Income tax (benefit) expense (0.1) (1.2) Interest expense, net 30.3 37.3 Depreciation and amortization 46.4 39.8 EBITDA from continuing operations $ 81.7 $ 48.1 Special items, before tax 43.2 82.0 Interest expense included in special items (2.2) (10.0) Depreciation and amortization included in special items — (0.8) Adjusted EBITDA $ 122.7 $ 119.3 Pro forma APM adjustments — 17.2 Pro forma adjusted EBITDA $ 122.7 $ 136.5 Pro forma adjusted EBITDA as a % of sales 16.3 % 15.4 % 1 Year Ended December 31, Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018 Sales $ 2,622.4 $ 3,533.4 Net income from continuing operations – GAAP $ 133.5 $ 160.8 Income tax expense 29.7 36.4 Interest expense, net 63.1 62.8 Depreciation and amortization 57.1 91.5 EBITDA from continuing operations $ 283.4 $ 351.5 Special items, before tax (34.0) 59.5 Depreciation and amortization included in special items — (3.0) JV - equity income (107.0) — Adjusted EBITDA $ 142.4 $ 408.0 Adjusted EBITDA as a % of sales 5.4 % 11.5 % Reconciliation to EBITDA and Adjusted EBITDA: Three Months Ended December 31, 2022 Net loss from continuing operations – GAAP $ (16.6) Income tax benefit (60.8) Interest expense, net 49.4 Depreciation and amortization 48.6 EBITDA from continuing operations $ 20.6 Special items, before tax 104.3 Interest expense included in special items (16.0) Depreciation and amortization included in special items (1.5) Adjusted EBITDA $ 107.4 Reconciliation of Pro Forma Adjusted Earnings per Share: Three Months Ended December 31, 2022 Net loss from continuing operations attributable to Avient shareholders $ (17.0) Special items, after tax 38.3 Amortization expense, after-tax 14.6 Adjusted net income from continuing operations excluding special items 35.9 Pro forma adjustments* 2.5 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 38.4 Weighted average diluted shares 91.7 Pro forma adjusted EPS - excluding special items pro forma for APM acquisition $ 0.42 * Pro forma adjustment to reflect APM results for the period before Avient ownership including the impacts of debt financing and paydown of debt with net proceeds from the Distribution sale. 2 AVNT November IR Presentation (11.3) 3PM Avient corporation�investor presentation DISCLAIMER Slide Number 3 Creating a world-class�sustainable organization Top-tier sustainability performance�and recognition What we do: We are a formulator Slide Number 7 Avient protective materials �First Year Slide Number 9 Slide Number 10 Slide Number 11 Slide Number 12 Slide Number 13 Slide Number 14 Slide Number 15 Slide Number 16 Slide Number 17 Slide Number 18 Slide Number 19 Slide Number 20 Slide Number 21 Slide Number 22 Slide Number 23 Slide Number 24 Slide Number 25 Avient is asset light Free cash flow conversion Multiple expansion Slide Number 29 Slide Number 30 Slide Number 31 2022 pro forma segment, end market and Geography Color, Additives & Inks Specialty Engineered Materials Slide Number 35 IR Deck - AVNT-2023.09.30 Non GAAP Recs Attachment
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Morgan%2520Stanley%2520Conference.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
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.
Service:�The Timeless differentiator Talent development IQ DESIGN LABS LSS CUSTOMER FIRST 3D Printing�Bringing New ideas to life Slide Number 34 Innovating with PolyOne COLOR, ADDITIVES & INKS Color, Additives & Inks Specialty Engineered Materials Specialty Engineered Materials Performance Products & Solutions Performance Products & Solutions DISTRIBUTION Target end markets & �application examples Slide Number 44 Slide Number 45 Slide Number 46 Slide Number 47 Slide Number 48 Slide Number 49 Slide Number 50 Slide Number 51 Slide Number 52 Slide Number 53 Slide Number 54 Slide Number 55 Investor Presentation - June 2018 Investor Presentation - March 2018 Adjusted EBITDA
https://www.avient.com/company/sustainability/sustainability-report/governance
The prioritized risks are reviewed annually with executive management to ensure our risk identification and responses remain up-to-date, mitigation actions remain effective, and that new and emerging risks are considered.
https://www.avient.com/news/polyone-wins-2015-ringier-plastics-technology-innovation-award
PolyOne provides confidential, expert assistance with technology choice, design, and usage as well as process, product and specification development to assist brand owners in shortening product development times and maintaining quality levels for products that can benefit from positive identification.