https://www.avient.com/sites/default/files/resources/POL%2520KeyBanc%2520IR%2520Presentation%2520w%2520non-GAAP%252009%252010%25202013.pdf
In addition, operating income
before special items and adjusted EPS are components of various PolyOne
annual and long-term employee incentive plans
Platform sales and operating income (OI) 2006Y* 2008Y* 2010Y* 2012Y* 2012PF**
Global Specialty Engineered Materials Sales $ 345.3 $ 514.0 $ 517.4 $ 543.6 $ 773.0
Global Color, Additives and Inks Sales 531.8 554.3 527.4 703.5 828.5
Designed Structures and Solutions - - - - 850.6
Specialty Platform Sales $ 877.1 $ 1,068.3 $ 1,044.8 $ 1,247.1 $ 2,452.1
Performance Products and Solutions Sales 1,166.2 1,001.4 776.3 837.0 696.1
PolyOne Distribution Sales 732.8 796.7 911.9 1,030.3 1,030.3
Corporate and Eliminations (153.7) (127.7) (111.1) (121.8) (121.6)
Total Sales $ 2,622.4 $ 2,738.7 $ 2,621.9 $ 2,992.6 $ 4,056.9
Global Specialty Engineered Materials OI $ 3.9 $ 17.6 $ 49.7 $ 47.0 $ 47.7
Global Color, Additives and Inks OI 8.9 28.1 37.7 66.8 81.6
Designed Structures & Solutions OI - - - - 20.9
Specialty Platform OI $ 12.8 $ 45.7 $ 87.4 $ 113.8 $ 150.2
Performance Products and Solutions OI 64.2 31.3 54.0 74.9 37.4
PolyOne Distribution OI 19.2 28.1 42.0 66.0 66.0
Sunbelt Joint Venture OI 102.9 28.6 18.9 - -
Corporate and eliminations (4.6) (28.9) (32.5) (33.7) (40.0)
Special items in OI 39.1 (396.2) 4.8 (53.9) (53.9)
Operating income (loss) GAAP $ 233.6 $ (291.4) $ 174.6 $ 167.1 $ 159.7
Sunbelt equity income (107.0) (32.5) (23.1) - -
Special items in OI (39.1) 396.2 (4.8) 53.9 53.9
Operating income adjusted $ 87.5 $ 72.3 $ 146.7 $ 221.0 $ 213.6
Global Specialty Engineered Materials - OI % of sales
1.1%
3.4%
9.6% 8.6% 6.1%
Global Color, Additives and Inks - OI % of sales 1.7% 5.1% 7.1% 9.5% 9.8%
Designed Structures & Solutions – OI % of sales - - - - 2.5%
Specialty platform OI - % of sales 1.5% 4.3% 8.4% 9.1% 6.1%
PP&S operating OI - % of sales 5.5% 3.1% 7.0% 9.0% 5.4%
Distribution OI - % of sales 2.6% 3.5% 4.6% 6.4% 6.4%
PolyOne OI adjusted - % of sales 3.3% 2.6% 5.6% 7.4% 5.3%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and exclude the Resin business assets.
*** Restated results to exclude the Resin business and to remove Specialty Coatings from the Performance Products and Solutions segment into
Global Color, Additives and Inks segment.
Average Debt Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average
PolyOne Debt $ 705.8 $ 705.2 $ 706.9 $ 1,055.5 $ 1,031.2 $ 840.9
Average Equity Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average
PolyOne shareholders’ equity $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 993.9 $ 745.7
Platform sales and operating income (OI) H1 2012*** H1 2013*** H1 2013****
Global Specialty Engineered Materials Sales $ 280.9 $ 352.0 $ 285.1
Global Color, Additives and Inks Sales 413.9 434.7 409.2
Designed Structures & Solutions Sales - 240.4 -
Specialty Platform Sales $ 694.8 $ 1,027.1 $694.3
Performance Products and Solutions Sales 336.0 336.7 317.5
PolyOne Distribution Sales 533.6 543.1 543.1
Corporate and Eliminations (62.3) (68.2) (68.2)
Total Sales $ 1,502.1 $ 1,838.7 $ 1,486.7
Global Specialty Engineered Materials OI $ 24.6 $ 32.5 $ 31.2
Global Color, Additives and Inks OI 44.0 54.7 52.0
Designed Structures & Solutions OI - 10.5 -
Specialty Platform OI $ 68.6 $ 97.7 $ 83.2
Performance Products and Solutions OI 19.3 27.5 25.7
PolyOne Distribution OI 33.4 33.1 33.1
Corporate and eliminations (20.3) (25.7) (20.3)
Special items in OI (20.3) (11.4) (20.3)
Operating income - GAAP $ 80.7 $ 121.2 $ 101.4
Special items in OI 20.3 11.4 20.3
Operating income adjusted $ 101.0 $ 132.6 $ 121.7
Global Specialty Engineered Materials - OI % of sales
8.8% 9.2% 10.9%
Global Color, Additives and Inks - OI % of sales 10.6% 12.6% 12.7%
Designed Structures & Solutions - OI % of sales - 4.4% -
Specialty platform - OI % of sales 9.9% 9.5% 12.0%
PP&S operating - OI % of sales 5.7% 8.2% 8.1%
Distribution OI - % of sales 6.3% 6.1% 6.1%
PolyOne OI adjusted - % of sales 6.7% 7.2% 8.2%
Reconciliation to Condensed Consolidated Balance Sheets H1 2013
Short-term debt and current portion of long-term debt $ 8.7
Long-term debt 1,022.5
Less cash and cash equivalents (392.4)
Specialty Platform Gross Margin Percentage 2006Y* Q2 2013****
Global Specialty Engineered Materials Sales $ 345.3 $ 143.5
Global Color, Additives and Inks Sales 531.8 207.5
Specialty Platform Sales $ 877.1 $ 351.0
Global Specialty Engineered Materials Gross Margin $ 41.6 $ 37.3
Global Color, Additives and Inks Gross Margin 83.6 71.8
Specialty Platform Gross Margin $ 125.2 $ 109.1
Specialty Platform Gross Margin Percentage 14.3% 31.1%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/2024-06/Smartbatch-PE Tarpaulin-Case study snapshot.pdf
PE Tarpaulin manufacturer
PE TARPAULIN
MANUFACTURER
O U T D O O R T A R P S
• Resist UV light degradation in European climates for an
extended period
• Maintain color stability
• Enhanced UV resistance against UV
degradation
• Delivered colors stability with good light
fastness
• Provided cost effectiveness by combining
colorant and UV solutions
• Offered in-house Q-Lab UV (QUV) tester to
meet strict customer standard / requirement
Smartbatch Combination Colorants and
Additives
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/products/polymer-colorants/color-additive-combination-masterbatches/smartbatch-combination-colorants-additives
Slide 1: PE Tarpaulin manufacturer
https://www.avient.com/sites/default/files/2020-12/excelite-one-pager-auto-hvac.pdf
HVAC AUTOMOTIVE
PRODUCER
N O R T H A M E R I C A
Excelite™ IM Chemical Foaming Additives
WHY AVIENT?
https://www.avient.com/products/polymer-additives/foaming-agents/colormatrix-excelite-chemical-foaming-additives
https://www.avient.com/sites/default/files/2021-05/norbert-merklein.pdf
NORBERT MERKLEIN
Vice President and General Manager EMEA, Color, Additives and Inks
Norbert Merklein serves as vice president and general manager for the Europe, Middle
East and Africa (EMEA) region of Color, Additive and Inks at Avient Corporation, a premier
provider of specialized and sustainable material solutions and services.
Merklein previously served in management positions at
Clariant International, Ltd., including Head of Group Procurement; Vice President, Business
Line Plastics and Special Applications and Head of Region Europe for the Pigments and
Additives Division.
https://www.avient.com/sites/default/files/2024-10/Aquamix Wound Care Case Study Snapshot.pdf
WOUND CARE
MA NUFAC TURER
S E L F - A D H E S I V E B A N D A G E S
• Provided aqueous dispersions that are safe
for uses in contact with human skin and
produce low levels of VOCs
• Offered high antioxidant performance to
protect bandages from degradation and
improve storage time
• Collaborated to deliver effectively and
efficiently with accelerated development
cycles and streamlined operations
Aquamix Additive Formulations
WHY AVIENT?
https://www.avient.com/products/polymer-additives/additive-dispersions/aquamix-chemical-dispersions
Slide 1: Wound care Manufacturer
https://www.avient.com/sites/default/files/2022-10/Cesa WithStand Patient Mobility Case Study %281%29.pdf
More complexities arose: the addition of an
antimicrobial ingredients had an adverse effect on
the color harmony.
The resulting Smartbatch solution was developed
specifically for the OEM’s patient mobility product,
but was so effective that the OEM has plans to
incorporate this technology into additional devices
currently being developed.
© 2022, All Rights Reserved
Avient Corporation, 33587 Walker Road, Avon Lake, Ohio USA 44012
ANTIMICROBIAL TECHNOLOGY, CUSTOM COLORS
AND PERFORMANCE ADDITIVES IN ONE MASTERBATCH.
https://www.avient.com/sites/default/files/2021-09/cai-biopolymers-brochure-2021.pdf
Color & Additive
Solutions for
Biopolymers
In recent times, interest in using biopolymers has
grown in several industry sectors.
Constituents added to resins, such
as colorants and additives, must be adapted to
obtain a final article compliant with prescribed
standards such as EN13432 for Packaging
Applications and EN17033 for Agriculture Mulch
Films.
Color & Additive
Formulations for
Biodegradable Resins
& Blends
Using a selected list of pigments and additives,
Avient color experts know how to enhance
biodegradable starch blends or PLA without
affecting degradability of the resins.
https://www.avient.com/sites/default/files/2024-11/AVNT M11 Investor Presentation_w_Non-GAAP.pdf
&
Canada
EMEA
Asia
Latin America
64%
36%
Specialty
Engineered
Materials
Color
Additives
and Inks
41%
36%
18%
5%
7%
7%
23%
19%
9%
16%
10%
5% 4%
Defense
Healthcare
Packaging
Consumer
Building &
Construction
Industrial
Transportation
Energy Telecom
Geography
Segment
Industry
2024 Financial Guidance
$525 to $530 million
Adjusted EBITDA
$2.63 to $2.67
Adjusted EPS
4
Industry Sustainability Standards
ESG Ratings Performance
1
2
4
87th
94th
percentile
Avient CDP Score:
A-
SUSTAINABILITY PERFORMANCE
AND RECOGNITION
O C T O B E R 3 1 , 2 0 2 4
W E B C A S T
P R E S E N TA T I O N
6
Q3 2024 HIGHLIGHTS
• 8.5% organic sales growth driven by broad-based
growth across all regions and most end markets in both
CAI and SEM segments
• Growth stemmed from gaining share, winning new
product specifications and restocking in certain end
markets
• Both segments expanded YoY EBITDA margins by 40
bps each
• Adjusted EPS of $0.65, an increase of 14% vs the
prior year
• Successfully refinanced $650M outstanding senior
notes due 2025; extending maturity to 2031
• Increased dividend 5% to $1.08 on an annualized
basis; 14th consecutive increase
Adj.
In addition, operating
income before the effect of special items is a component of Avient’s annual incentive plans and is used in debt covenant
computations.
Three Months Ended
September 30,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 38.2 $ 0.41 $ 5.1 $ 0.06
Special items, after-tax 6.6 0.07 32.0 0.35
Amortization expense, after-tax 15.0 0.16 15.2 0.16
Adjusted net income / EPS $ 59.8 $ 0.65 $ 52.3 $ 0.57
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Three Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 38.7 $ 5.1
Income tax expense (benefit) 11.3 (0.1)
Interest expense, net 26.9 30.3
Depreciation & amortization 45.1 46.4
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales 15.9 % 16.3 %
1
Three Months Ended
September 30,
2024 2023
Sales:
Color, Additives and Inks $ 521.5 $ 486.5
Specialty Engineered Materials 294.6 267.9
Corporate (0.9) (0.7)
Sales $ 815.2 $ 753.7
Operating income:
Color, Additives and Inks $ 75.5 $ 64.5
Specialty Engineered Materials 36.4 30.3
Corporate (34.7) (60.5)
Operating income $ 77.2 $ 34.3
Depreciation & amortization:
Color, Additives and Inks $ 21.9 $ 24.6
Specialty Engineered Materials 20.7 20.5
Corporate 2.5 1.3
Depreciation & amortization $ 45.1 $ 46.4
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 97.4 $ 89.1
Specialty Engineered Materials 57.1 50.8
Corporate (32.2) (59.2)
Other (expense) income, net (0.3) 1.0
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 18.7 % 18.3 %
Specialty Engineered Materials 19.4 % 19.0 %
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
Avient M11 Investor Presentation.pdf
IR Deck - AVNT-2024.09.30 (M11) - 11.05.24 11AM.pdf
Attachment
https://www.avient.com/sites/default/files/2024-03/CCG Application Snapshot_Wire _ cable laser marking_Final.pdf
AVIENT SOLUTION
Colorant Chromatics UV Laser Marking
Additives for FEP
LEARN MORE
© 2024, Avient Corporation.
All Rights Reserved
https://www.avient.com/products/polymer-additives/laser-marking-additives/colorant-chromatics-uv-laser-marking-technology
Wire & cable manufacturer
https://www.avient.com/sites/default/files/2024-07/woonkeatmoh_2024.pdf
WOON KEAT MOH
Senior Vice President and President, Color, Additives & Inks
Woon Keat Moh (“Moh”) is senior vice president and president, Color, Additives & Inks, for
Avient Corporation, a premier provider of specialized and sustainable material solutions and
services.
This has included Sales Director for Avient’s Color and Additives
segment in Asia and General Manager of Engineered Materials Asia.