https://www.avient.com/sites/default/files/2024-10/Mike Irwin Bio - 2024.pdf
Irwin joined Avient in 2024 after a 22-year career at 3M, where he held roles in sales,
global marketing and market development leadership, and P&L responsibility for global
businesses.
https://www.avient.com/sites/default/files/2024-12/2024 Avient Executive Bios_Michael Irwin.pdf
Irwin joined Avient in 2024 after a 22-year career at 3M, where he held roles in sales,
global marketing and market development leadership, and P&L responsibility for global
businesses.
https://www.avient.com/sites/default/files/2024-12/2024 Avient Executive Bios_Dr. Ashish K. Khandpur.pdf
During his 28-year career with 3M, Dr.
https://www.avient.com/sites/default/files/2024-10/Jamie Beggs - Bio 2024.pdf
Beggs joined Avient in August 2020 and has more than 20 years of experience in finance
and business leadership roles in both public and private organizations with an emphasis
on specialty materials and diverse end markets.
https://www.avient.com/sites/default/files/2024-11/Phil Clark Bio - 2024.pdf
He previously worked at 3M for 17 years,
leading R&D efforts in both corporate innovation and business segment roles, including
an international assignment based in South Korea.
https://www.avient.com/sites/default/files/2024-12/2024 Avient Executive Bios_Walter Ripplepdf.pdf
A 30-year veteran in the industry, Mr.
https://www.avient.com/sites/default/files/2023-07/Avient_RY 2022 CDP Verification Opinion Declaration_07-24-23%5B30%5D.pdf
Page 3
WATER RESOURCES • ENVIRONMENTAL SERVICES • INDUSTRIAL HYGIENE • SAFETY • SUSTAINABILITY
Apex Companies, LLC • (800) 733‐2739 • www.apexcos.com
Statement of independence, impartiality and competence
Apex is an independent professional services company that specializes in Health, Safety, Social and Environmental
management services including assurance with over 30 years history in providing these services.
The verification team has extensive experience in conducting assurance over environmental, social, ethical and health
and safety information, systems and processes, has over 20 years combined experience in this field and an excellent
understanding of Apex’s standard methodology for the verification of greenhouse gas emissions data.
https://www.avient.com/sites/default/files/2023-03/AvientRY 2021 CDP Verification Opinion Declaration_07-26-22r%5B96%5D.pdf
Page 3
WATER RESOURCES • ENVIRONMENTAL SERVICES • HEALTH & SAFETY • CLIMATE CHANGE
Apex Companies, LLC • (800) 733-2739 • www.apexcos.com
Statement of independence, impartiality and competence
Apex is an independent professional services company that specializes in Health, Safety, Social and Environmental
management services including assurance with over 30 years history in providing these services.
The verification team has extensive experience in conducting assurance over environmental, social, ethical and health
and safety information, systems and processes, has over 20 years combined experience in this field and an excellent
understanding of Apex’s standard methodology for the verification of greenhouse gas emissions data.
https://www.avient.com/sites/default/files/2024-05/4b - Governance and Corporate Responsibility Committee Charter.Feb_. 2024.v1.1.Final_.pdf
Members of the Committee will be appointed by the Board each year following the annual
meeting of shareholders
The Committee will meet at least two times a year and at such other times as may be
requested by its Chairman
https://www.avient.com/sites/default/files/2024-08/Avient Q2 2024 Earnings Call Presentation.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
• Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future;
• The effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks;
• Disruptions or inefficiencies in our supply chain, logistics, or operations;
• Changes in laws and regulations in jurisdictions where we conduct business, including with respect to plastics and climate change;
• Fluctuations in raw material prices, quality and supply, and in energy prices and supply;
• Demand for our products and services;
• Production outages or material costs associated with scheduled or unscheduled maintenance programs;
• Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
• Our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends;
• Information systems failures and cyberattacks;
• Amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions;
• Our ability to achieve strategic objectives and successfully integrate acquisitions, including the implementation of a cloud-based enterprise resource planning system, S/4HANA;
• Other factors affecting our business beyond our control, including without limitation, changes in the general economy, changes in interest rates, changes in the rate of inflation, geopolitical conflicts and any recessionary conditions; and
• Other factors described in our Annual Report on Form 10-K for the year ended December 31, 2023 under Item 1A, “Risk Factors.”
For the same reasons, Avient is unable to address the probable significance of the unavailable information.
2
3
Q2 2024 HIGHLIGHTS
• 5% organic sales growth supported by
broad-based growth across all regions
in both CAI and SEM segments
• Growth stemmed from gaining share,
winning new product specifications
and restocking in certain end markets
• Cost control and operational
discipline expanded EBITDA margins
by 100 bps
• EPS exceeded guidance by $0.05
and increased 21% vs the prior year
Adj.
A reconciliation of these measures to their most directly comparable GAAP measures is provided in the tables below.
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
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
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
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
3
Avient Q2 2024 Webcast Slides_for website_with non-GAAP_8_5.pdf
IR Deck - AVNT-2024.06.30 - 8.02.24 1130AM.pdf
Attachment
Avient Q2 2024 Webcast Slides_for website_with non-GAAP.pdf
AVNT cover slide.pdf