https://www.avient.com/news/revolve-tactical-tripod-rolatube-stands-out-competition-polystrand-composites-avient
With a rolled storage size of only 7” x 6” (18 x 15 cm), the Revolve packs up at one-third the size of traditional tripod designs and can be carried on a kit belt.
https://www.avient.com/sites/default/files/2023-11/AVNT November IR Presentation.pdf
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
N OV E M B E R 2 0 2 3
DISCLAIMER
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
PRIOR YEAR
$790
$710
2022 2023
$107
$112
2022 2023
Sales Adjusted EBITDA
$0.42
$0.47
2022 PF 2023
- 10% + 5% + 12%
Sales Adjusted EBITDA Adjusted EPS
16
$112
$500
$0.47
Q4 AND FULL YEAR 2023 GUIDANCE
$710
$3,130
Sales Adjusted EBITDA Adjusted EPS
17
(in millions) (in millions)
Guidance: Free Cash Flow
$180 $180
Prior Guidance Guidance
FREE CASH FLOW & INCREASED DIVIDEND
13th Consecutive Dividend Increase
0.16
0.26
0.42
0.58
0.79
0.85
0.99
1.03
2011 2013 2015 2017 2019 2021 2023 2024
S U S TAI NABI L I T Y DAY
RE CAP
SUSTAINABILITY AS A GROWTH DRIVERLONG-TERM REVENUE GROWTH DRIVERS
60%+
Key Growth
Drivers
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
(GDP Growth)
Total Company Revenue
Growth Drivers Long-Term
Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other (GDP growth) 0–2%
Avient 6%
SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH
8-12%
Long Term
Growth
50
90
2022 2030
Medical Plastics
Market Size
(in $Billions)
2020 2030
Recycled
Plastics
Virgin
Plastics
Growing Demand
for Recycled
Content
Avient Sustainable
Solutions
46
2023 2032
Global Offshore Annual
Wind Installations
(in Gigawatts)
Sources: McKinsey, Bloomberg, Grand View Research
SUSTAINABILITY TRENDS DRIVE
LONG-TERM GROWTH
21
• Transformative acquisitions
combined with divestitures of
more cyclical businesses have
improved margins over 400 bps
since 2018
• 20% long-term margin goal to
be driven by key growth drivers,
with sustainable solutions
playing a meaningful role
5.4%
11.5%
2006 2018 2023E Recovery Growth
Drivers
Strategic
Objective
20%+
+1%+
+3%+
ADJUSTED EBITDA MARGIN EXPANSION
22
• 6% annualized long-term sales growth leveraging
sustainable solutions, composites, healthcare, and
emerging regions
• Expand EBITDA margins to 20%
• Deliver annual EBITDA and EPS growth of
10% and 15%
• Maintain asset-light, 80% free cash flow conversion
profile and be valued as a specialty formulator
• Continue fostering our Great Place to Work® culture
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
23
PEER COMPARISONS
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,130 and estimated run-rate CAPEX of $110M.
26
3.5
1.8
2.7 3.0 3.4 3.7
2.8
3.7
4.6 5.0
6.9 7.0
8.6
11.1
Av
ie
nt
PP
PM FM
C
N C
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Avient 2011, 2018 and 2021 multiples reflect trailing 12 months EBITDA at December 31.
28
EV / 2023E EBITDA
6.5
8.5
11.0
8.9
12.0 11.9
10.9
9.9
8.2
16.3
13.8
11.9
9.6 9.5 9.5 9.2
7.7
11
21
O
ct
23
PM PP
FM
C C
Avient Historic Multiple
Avient Specialty
Other Specialty /
AP P E N DI X
30
Performance
Additives
16%
Pigments
12%
TiO2
Dyestuffs
2%
Polyethylene
Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
33%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
2022 pro forma results for the acquisition of Avient Protective Materials
RAW MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
40%
37%
18%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Building and
END MARKET REVENUE
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
9%
32
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
2022 REVENUE | $2 .4 BILLION
US & Canada
34%
38%
END MARKET REGION
33
34%
21%
Building &
1% Energy
2%
COLOR, ADDITIVES & INKS
2022 PRO FORMA REVENUE | $1 .3 BILLION
US & Canada
52%
35%
34
19%
8%Industrial
16%
9% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
9%
2022 PROFORMA AVIENT REGIONAL SALES
27%
14%
17%
Building &
(37% of sales)Transportation
12%
Building &
US &
Canada
(40% of sales)
7%
56%
23%
7%
Building &
1%
LATAM
(5% of sales)
3%
35
BY END MARKET
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Hong Kong %28English%29.pdf
Seller has based any recommendations to Buyer upon information
that Seller considers reliable, but Seller makes no warranty as to any
results Buyer might obtain in Buyer’s use(s) for the Product.
If Buyer has a dispute with
respect to an invoice, Buyer must notify Seller within seven (7)
business days after the date of invoice.
Thereafter, Buyer
automatically approves the invoice.
7.
https://www.avient.com/sites/default/files/2024-12/AVNT Investor Day 2024 Presentation.pdf
$3.1B 9,000+
80+ 100+
2011
36%
64%
by business segment
Specialty
Engineered
Color,
& Inks
2023 sales by end market
41%
36%
18%
5%
US,
Canada
LATAM
EMEA
PACKAGING
23%
CONSUMER
19%
INDUSTRIAL
16%
TRANSPORTATION
10%
BUILDING & CONSTRUCTION
9%
HEALTHCARE
7%
DEFENSE
7%
ENERGY
5%
TELECOM
4%
Copyright © .
2024 8
The fast-changing world creating opportunities for us...
Strategic drivers
Digital
for operational excellence
Leadership, talent
Copyright © .
2024 16
Launch Growth Maturity Decline
TIME
S
A
LE
S
1.
2.
3.
Moving up the value chain, and expanding addressable market size by
providing materials solutions in select and prioritized areas
MARKETS TECHNOLOGY CUSTOMER SCALE
+100
to
+200 bps
revenue growth
above GDP
Copyright © .
2024 59
Pathway to 20%+ adjusted EBITDA margins
• Organic volume growth and
SG&A efficiencies from prioritizing
resources across the company
• Increased sales in higher margin
growth platforms
Productivity • Manufacturing & sourcing efficiencies
• Footprint optimization
• Digital technologies
Avient margin expansion
+400bps
margin expansion 20%+
Strategic
objective
~16%
Current
adjusted
EBITDA
margin
+2%
+1%
+1%
Copyright © .
2024 60
Organic revenue growth with margin expansion
+100 to +200bps
above GDP
Organic revenue growth
LONG TERM FINANCIAL TARGETS
Copyright © .
2024 61
History of balanced capital deployment
.1
6
.2
0 $0
.2
6 $0
.3
4 $0
.4
.5
0 $0
.5
8
.7
.7
9
.8
.8
8 $0
.9
6
0
8
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Dividend
$ per shareAdj.
https://www.avient.com/sites/default/files/2024-07/Colorants _ Additives for Appliances Brochure.pdf
Options for black, white and color markings are available on opaque but
also transparent plastics.
https://www.avient.com/sites/default/files/2022-08/Avient CDP_Climate_Change_Questionnaire_2022.pdf
Avient CDP Climate Change Questionnaire 2022 Friday, July 29, 2022
7
• The EH&S Committee is also responsible for reviewing significant
risks and exposures regarding environmental, health and safety
concerns with management.
Our focus is on supporting UN SDG’s 3, 7, 9, 12, and 13.
If so, please attach the publication(s).
https://www.avient.com/investor-center/news/avient-announces-third-quarter-2020-results
Special items and the impact of Clariant MB step-up depreciation and amortization, after tax (Attachment 7)
Attachment 7
Taxes paid on gain on sale of PP&S divestiture
https://www.avient.com/sites/default/files/2024-12/67599-Certificate-06DEC2024.pdf
Martorell no. 124 08740
Sant Andreu de la Barca Spain
Sweden AB
Administration, Site management, Manufacture, Laboratory, Procurement, Sales,
Järnyxegatan 7 213 75 Malmö
Sweden
Switzerland AG
Rothausstrasse 61 4132 Muttenz
Switzerland
Avient (Taiwan) Co.
Administration, Site management (Facitilities, EHS), Manufacture, Laboratory (QC
Transport, SCM (DIP, Logistics, CSD, Call-off), QC, Product Stewardship
Amata City Chonburi Industrial
Estate, 700/848 Moo 1, Tambol
Phan Thong Amphur Phan Thong
Chonburi 20160 Thailand
Avient Turkey
Renklendirici ve Katkı
Maddeleri Sanayi ve
Ticaret Anonim S¸irketi
Gebze Organize Sanayi Bolgesi,
41400 Gebze Türkiye
Avient Turkey
Renklendirici ve Katkı
Maddeleri Sanayi ve
Ticaret Anonim S¸irketi
5.
https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
Istanbul, Turkey 7.
Brampton, Ontario, 7.
Remi de 7.
https://www.avient.com/sites/default/files/resources/PolyOne%25202018%2520Proxy%2520Statement.PDF
Abernathy as a Director on March 7, 2018.
Over a three-year time period, our TSR performance was less than the S&P 500 Index and the S&P Mid Cap
Chemicals Index, primarily due to weaker performance from our DSS segment, which we subsequently divested in July
2017.
7) Modification of Stock Appreciation Rights in Connection with Retirement.