https://www.avient.com/investor-center/news/avient-announces-twelfth-consecutive-annual-increase-quarterly-dividend
Chairman, President and Chief Executive Officer,
Investor Relations Contact: Giuseppe (Joe) Di Salvo, Vice President, Treasurer and Investor Relations, Avient Corporation, +1 440-930-1921, giuseppe.disalvo@avient.com or Media Contact: Kyle G.
Rose, Vice President, Corporate Communications, Avient Corporation, +1 440-930-3162, kyle.rose@avient.com
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf
Pro Forma Financial Information The Company acquired Avient Protective Materials (“Dyneema”) on September 1, 2022 (the “Acquisition Date”) and sold the Distribution segment on November 1, 2022.
Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has completed several acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization.
Three Months Ended Year Ended Reconciliation of Pro Forma Adjusted Earnings per Share December 31, 2022 Net (loss) income from continuing operations attributable to Avient shareholders $ (17.0) $ 82.8 Special items, after tax 38.3 116.2 Amortization expense, after-tax 14.6 49.0 Adjusted net income from continuing operations excluding special items 35.9 248.0 Pro forma adjustments* 2.5 13.6 APM pro forma amortization expense, after-tax* — 19.1 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 38.4 $ 280.7 Weighted average diluted shares 91.7 92.2 Pro forma adjusted EPS - excluding special items pro forma for APM acquisition $ 0.42 $ 3.04 * 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 Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 Sales: Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0 Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4 Corporate (0.2) (1.2) (2.8) (2.5) Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9 Operating income: Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0 Specialty Engineered Materials 29.4 35.2 142.5 140.1 Corporate (48.1) (79.1) (205.6) (197.8) Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3 Other expense, net: $ 4.3 $ (28.4) $ 5.8 $ (59.7) Depreciation & amortization: Color, Additives and Inks $ 22.2 $ 25.2 $ 98.3 $ 101.3 Specialty Engineered Materials 19.8 20.3 81.5 48.7 Corporate 2.2 3.1 9.0 12.5 Depreciation & amortization $ 44.2 $ 48.6 $ 188.8 $ 162.5 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 84.0 $ 69.5 $ 358.2 $ 402.3 Specialty Engineered Materials 49.2 55.5 224.0 188.8 Corporate (45.9) (76.0) (196.6) (185.3) Other expense, net $ 4.3 $ (28.4) $ 5.8 $ (59.7) EBITDA $ 91.6 $ 20.6 $ 391.4 $ 346.1 Special items in EBITDA 22.3 86.8 110.4 162.5 EBITDA - excluding special items $ 113.9 $ 107.4 $ 501.8 $ 508.6 APM pro forma adjustments - 8 months 2022* — — — 83.1 Pro forma EBITDA $ 113.9 $ 107.4 $ 501.8 $ 591.7 * Pro forma adjustment for January - August 2022 APM results (period before Avient ownership). 3 AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf AVNT Q4 2023 Earnings Presentation_For Website.pdf IR Deck - AVNT-2023.12.31 (2.12.24 9PM Milestone February 12 0905 pm).pdf Attachment Non-GAAP Update.pdf
https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable
They can also help save material and improve productivity.
Custom Pre-Colored Specialty Engineered Formulations
Protective Materials
https://www.avient.com/sites/default/files/2023-03/KyleRose.pdf
ROSE Vice President, Marketing and Communications Kyle Rose is Vice President, Marketing and Communications, for Avient Corporation, the world’s premier provider of specialized and sustainable material solutions and services.
Rose joined Avient in 2011 and most recently served as Vice President, Corporate Communications.
He has led multiple endeavors during the company’s specialty portfolio and cultural transformation.
https://www.avient.com/sites/default/files/2020-07/PH -AVIENT LUXEMBOURG - 15608678 - ISO 14001.pdf
POLYONE FRANCE TOSSIAT 43, PLACE DE LA GARE 01250 TOSSIAT FRANCE Bureau Veritas Certification France certify that the Management System of the above organization has been audited and found to be in accordance with the requirements of the management system standard detailed below: Standard ISO 14001:2015 Scope of certification THE DESIGN AND MANUFACTURE OF COLOUR AND ADDITIVE CONCENTRATES FOR THERMOPLASTICS Certification/Recertification Cycle Start Date: 03 May 2023 Subject to the continued satisfactory operation of the organization’s Management System, this certificate expires on: 02 May 2026 Expiry date of previous cycle: NA Certification/Recertification Audit date: 08 March 2023 Original Cycle Start Date: 15 July 2011 Certificate n°: FR081968-1 File n°:15608678 Revision date:24 April 2023 Laurent CROGUENNEC - President Local Office: Bureau Veritas Certification France Le Triangle de l'Arche - 9 Cours du Triangle - 92937 Paris La Défense Further clarifications regarding the scope of this certificate the applicability of the management system requirements may be obtained by consulting the organization.
https://www.avient.com/news/avient-expand-color-concentrate-capabilities-vietnam
Demand for plastics has become one of the Vietnam economy’s fastest growth areas,” says Say-Eng Lee, vice president and general manager, Color & Additives Asia for Avient.
NOTE: On July 1, 2020, PolyOne and Clariant Masterbatches joined together as Avient, a new kind of materials company focused on conquering customer challenges and unlocking the potential for innovation and sustainability around the globe.
About Avient
Avient Corporation (NYSE: AVNT), with projected 2020 pro forma revenues of approximately $3.7 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.
https://www.avient.com/news/polyone-accelerates-design-freedom-dairy-brands-novapet-pet-light-blocker
The DCU additive fits perfectly with our existing portfolio of specialty additives for protecting liquid dairy products,” explains Bjoern Klaas, general manager, ColorMatrix at PolyOne.
About PolyOne
PolyOne Corporation, with 2015 revenues of $3.4 billion, is a premier provider of specialized polymer materials, services and solutions.
Avient Announces Quarterly Dividend...
https://www.avient.com/news/archives?page=46
Beyond Acrylic: New Resilience™ LS Materials from PolyOne Boost LED Lens Performance
PolyOne Accentuates What’s Possible with Application-Specific Materials and Design at NPE 2018
PolyOne to Showcase Material, Colorant and Additive Innovations at CHINAPLAS 2018
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
Ashish Khandpur, President and Chief Executive Officer, Avient Corporation.
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.
Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 Sales: Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0 Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4 Corporate (0.2) (1.2) (2.8) (2.5) Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9 Gross margin: Color, Additives and Inks $ 148.3 $ 134.5 $ 631.2 $ 681.3 Specialty Engineered Materials 78.1 82.4 341.8 283.7 Corporate (17.5) (44.9) (80.5) (82.3) Gross margin $ 208.9 $ 172.0 $ 892.5 $ 882.7 Selling and administrative expense: Color, Additives and Inks $ 86.5 $ 90.2 $ 371.3 $ 380.3 Specialty Engineered Materials 48.7 47.2 199.3 143.6 Corporate 30.6 34.2 125.1 115.5 Selling and administrative expense $ 165.8 $ 171.6 $ 695.7 $ 639.4 Operating income: Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0 Specialty Engineered Materials 29.4 35.2 142.5 140.1 Corporate (48.1) (79.1) (205.6) (197.8) Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3 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/2024-08/Avient AUG 2024 Investor Presentation- w Non-GAAP.pdf
Avient’s chief operating decision maker uses these financial measures to monitor and evaluate the ongoing performance of Avient and each business segment and to allocate resources.
Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has completed several acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization.
Three Months Ended June 30, 2024 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 33.6 $ 0.36 $ 22.1 $ 0.24 Special items, after-tax 21.8 0.24 19.6 0.21 Amortization expense, after-tax 14.8 0.16 16.2 0.18 Adjusted net income / EPS $ 70.2 $ 0.76 $ 57.9 $ 0.63 Three Months Ended June 30, Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023 Net income from continuing operations – GAAP $ 33.8 $ 22.3 Income tax expense 11.2 10.4 Interest expense, net 26.6 29.4 Depreciation & amortization 44.9 47.6 EBITDA from continuing operations $ 116.5 $ 109.7 Special items, before tax 28.1 21.7 Interest expense included in special items (1.0) — Depreciation & amortization included in special items (0.3) (0.1) Adjusted EBITDA $ 143.3 $ 131.3 Adjusted EBITDA as a percent of sales 16.9 % 15.9 % 1 Three Months Ended June 30, 2024 2023 Sales: Color, Additives and Inks $ 542.0 $ 524.5 Specialty Engineered Materials 308.1 300.8 Corporate (0.4) (0.9) Sales $ 849.7 $ 824.4 Operating income: Color, Additives and Inks $ 86.1 $ 68.0 Specialty Engineered Materials 42.8 39.7 Corporate (56.4) (45.4) Operating income $ 72.5 $ 62.3 Depreciation & amortization: Color, Additives and Inks $ 21.8 $ 25.7 Specialty Engineered Materials 20.8 19.9 Corporate 2.3 2.0 Depreciation & amortization $ 44.9 $ 47.6 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 107.9 $ 93.7 Specialty Engineered Materials 63.6 59.6 Corporate (54.1) (43.4) Other expense, net (0.9) (0.2) EBITDA from continuing operations 116.5 109.7 Special items, before tax 28.1 21.7 Interest expense included in special items (1.0) — Depreciation & amortization included in special items (0.3) (0.1) Adjusted EBITDA $ 143.3 $ 131.3 Adjusted EBITDA as a percent of sales: Color, Additives and Inks 19.9 % 17.9 % Specialty Engineered Materials 20.6 % 19.8 % 2 Year Ended December 31, 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS Net income from continuing operations attributable to Avient shareholders $ 75.8 $ 0.83 Special items, after-tax 79.3 0.86 Amortization expense, after-tax 61.5 0.67 Adjusted net income / EPS $ 216.6 $ 2.36 Adjusted Free Cash Flow Calculation December 31, 2023 Cash provided by operating activities $ 201.6 Capital expenditures (119.4) Free cash flow 82.2 Taxes paid on gain on sale of business 104.1 Adjusted free cash flow $ 186.3 Year Ended December 31, 2023 Sales: Color, Additives and Inks $ 2,007.4 Specialty Engineered Materials 1,138.2 Corporate (2.8) Sales $ 3,142.8 Operating income: Color, Additives and Inks $ 259.9 Specialty Engineered Materials 142.5 Corporate (205.6) Operating income $ 196.8 Depreciation & amortization: Color, Additives and Inks $ 98.3 Specialty Engineered Materials 81.5 Corporate 9.0 Depreciation & amortization $ 188.8 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 358.2 Specialty Engineered Materials 224.0 Corporate (196.6) Other income, net 5.8 EBITDA from continuing operations 391.4 Special items, before tax 114.6 Interest expense included in special items (2.3) Depreciation & amortization included in special items (1.9) Adjusted EBITDA $ 501.8 Adjusted EBITDA as a percent of sales 16.0 % 3 AVNT M8 Investor Presentation.pdf Avient Disclaimer SLide.pdf AVNT M8 Investor Presentation IR Deck - AVNT-2024.06.30 (M8) (8.26.24 11AM Milestone August 26 1053 am).pdf Attachment