https://www.avient.com/sites/default/files/2020-10/investing-in-avient.pdf
D is t. ) R P M K W R P P G F U L G C P F M C IF F H X L H U N F O E E M N E C L S C L K R A A S H C E G R A A LB As a specialty formulator, we don’t require significant capital investment, as compared to the base resin raw material suppliers we purchase from.
Whether an additional line at an existing manufacturing plant, or a new facility in a growing region, we ramp-up quickly and cost-efficiently. 17 Median: 3% Median: 5% Capex / Revenue 2021E (%) Source: Capital IQ market data as of August 24, 2020 AVIENT IS ASSET LIGHT Avient Specialty Formulators Other Chemical/Specialty Companies 83 86 85 84 80 56 89 83 82 82 78 76 76 75 71 70 68 63 61 58 14 A vi en t K W R R P M P P G F U L G C P F M C IF F U N V R B N R H X L E C L E M N F O E A S H C E G R A K R A H U N S C L A L B Avient Specialty Formulators Other Chemical/Specialty Companies Free Cash Flow Conversion (1) 2021E (%) Being asset light helps us to generate strong free cash flow that is in line with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA Source: Capital IQ market data as of August 24, 2020 Median: 84% Median: 75% HIGH FREE CASH FLOW CONVERSION 3.1x 2.6x 0.5x 1.9x 2.8x 3.1x 4.5x -0.1x 1.8x 1.9x 2.2x 2.3x 2.4x 2.9x 3.0x 3.0x 3.2x 3.4x 3.4x 3.8x 3.9x 4.8x A vi en t ( 20 P F ) A vi en t ( 21 E ) G C P P P G R P M K W R F U L S C L B N R H U N E C L C E F M C A S H H X L E M N G R A A L B IF F U N V R K R A F O E Net Debt / 2021E EBITDA (1) We typically operate at 2.5–3.0x net debt to EBITDA.
https://www.avient.com/sites/default/files/2024-08/Stat-Tech-Vacuum cleaner handle -case study snapshot_0826.pdf
GLOBAL SMALL APPLIANCE BRAND V A C U U M C L E A N E R H A N D L E • Comply with flame retardant ratings of UL 94 V-0 at 0.8mm and GWIT 775oC / GWFI 850oC • Pass ball pressure at 75oC • Deliver stable static resistivity of E9-11 • Matched color to a specified black103 • Pass tests for battery runaway, drop at 1m, static load, and fatigue life • Provided a custom formulation with a good balance of performance and aesthetics • Guided the molder on how to properly measure the surface resistance of the part and the fixture specifications • Had excellent service with fast turnaround of samples and strong ADTS support to ensure smooth processability Stat-Tech Static Dissipative & Electrically Conductive Formulations KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2021-09/avnt-q2-2021-earnings-presentation.pdf
D is t. ) K W R P P G A V Y F U L R P M G C P H X L F M C H U N IF F E C L A S H K R A E M N C E S C L A LB Median: 5%Median: 3% Source: Peer data per Bloomberg market data as of July 28, 2021 Avient reflects 2021 estimated revenue of $4,650M and excludes one-time synergy capture CAPEX ($20M) Avient Specialty Formulators Other Chemical/Specialty Companies Free Cash Flow Conversion (1) 2021E (%) Being asset light helps us to generate strong free cash flow that is in line with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA Median: 81% Median: 78% HIGH FREE CASH FLOW CONVERSION Avient reflects 2021 estimated EBITDA of $580M and excludes one-time synergy capture CAPEX ($20M) Source: Peer data per Bloomberg market data as of July 28, 2021 87 90 86 82 80 78 73 87 82 82 79 79 78 78 77 76 71 67 46 A vi en t K W R P P G A V Y F U L R P M G C P F M C U N V R C E IF F A S H E C L B N R E M N H X L H U N K R A S C L A L B (6) Source: Peer data per Bloomberg market data as of July 28, 2021 Total Enterprise Value / 2021E EBITDA Our current valuation with updated guidance implies an EBITDA multiple that is below specialty formulator peers and the median of other selected chemical / specialty companies.
With the Clariant Masterbatch acquisition and divestment of the PP&S business, our exposure is now concentrated in less-cyclical and high-growth markets, with increased geographic diversification and a more specialized portfolio that can significantly expand EBITDA margins. 25 Avient reflects 2021 estimated EBITDA of $580M OUR VALUATION VERSUS PEERS Avient Specialty Formulators Other Chemical/Specialty Companies 9.5 18.5 15.1 15.1 14.0 11.0 10.4 29.5 28.2 23.9 18.7 12.4 12.2 11.1 9.3 9.2 9.2 7.6 7.6 6.0 A vi en t K W R P P G A V Y R P M F U L G C P A L B H X L E C L IF F F M C B N R A S H S C L E M N U N V R K R A C E H U N Median: 11.1xMedian: 14.6x SUMMARY: WHY INVEST IN AVIENT?
https://www.avient.com/sites/default/files/2021-04/versaflex-hc-3810-covid-19-containment-tube-screw-caps-case-study.pdf
DIAGNOSTICS MANUFACTURER C O V I D - 1 9 C O N T A I N M E N T T U B E S C R E W C A P S • Wide range of durometers with consistent raw materials • Processing consistencies across the durometer ranges for an easy transition between materials • Materials formulated without animal derivatives at a competitive cost • Offered a comprehensive range of solutions to accommodate specific application demands such as barrier, flexibility, and sealing performance • Provided materials manufactured in an ISO 13485 certified facility • Delivered a series of medical-grade TPEs that could be extruded and injection molded Versaflex™ HC 3810 Thermoplastic Elastomers KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2020-07/onflex-lo-hvac-flap-spanish.pdf
OnFlex LO - HVAC Flap - Spanish PROVEEDOR TIER 2 R E J I L L A P A R A S I S T E M A S D E V E N T I L A C I Ó N Y C A L E F A C C I Ó N • Eliminar el post-calentamiento de las piezas a fin de lograr el nivel de olor necesario (≤3.0 VDA 270) • Tener la menor emisión de compuestos orgánicos volátiles (VOC/FOG) (VDA 278), con el mismo compresión set del material anterior • Menos pasos de procesamiento y menores costos de energía para el moldeador • Se lograron los niveles VOC/FOG requeridos y se cumplió el desempeño con el estándar de compresión set OnFlex™ LO REQUERIMIENTOS CLAVE ¿POR QUÉ AVIENT?
https://www.avient.com/resource-center/knowledge-base/case-study/led-manufacturer-innovates-and-saves-polymer-heat-sinks
The company’s product engineers developed specifications that included thermal conductivity in plane from 4 to 21 W/m.K (in compliance with ASTM E1461); glow wire resistance of 850°C/0.8mm (IEC 606095-2-12); and enough dimensional stability to allow it to be overmolded directly on LED components.
The material added immediate benefits including: complex designs at lower costs than metal; lighter weight; inherent corrosion resistance; adaptability for ingress protection up to IP67; high heat resistance; compliance with UL94 V-0 flammability standards; and options for either electrically conductive or insulating properties.
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
D is t. ) K W R R P M P P G A V Y F U L G C P IF F H X L F M C F O E H U N E C L K R A E M N A S H C E S C L G R A A LB Median: 5%Median: 3% Source: Peer data per Bloomberg market data as of April 27, 2021 Avient reflects 2021 estimated revenue of $4,300M and excludes one-time synergy capture CAPEX ($20M) Avient Specialty Formulators Other Chemical/Specialty Companies Free Cash Flow Conversion (1) 2021E (%) Being asset light helps us to generate strong free cash flow that is in line with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA Median: 84% Median: 77% HIGH FREE CASH FLOW CONVERSION Avient reflects 2021 estimated EBITDA of $560M and excludes one-time synergy capture CAPEX ($20M) Source: Peer data per Bloomberg market data as of April 27, 2021 87 89 87 86 82 81 76 88 87 84 82 81 78 77 77 77 76 73 70 69 50 19 A vi en t K W R P P G R P M A V Y F U L G C P F M C IF F H X L U N V R E C L A S H C E B N R F O E E M N G R A H U N K R A S C L A L B Source: Peer data per Bloomberg market data as of April 27, 2021 Total Enterprise Value / 2021E EBITDA Our current valuation with updated guidance implies an EBITDA multiple that is below specialty formulator peers and the majority of our chemical peers.
With the Clariant Masterbatch acquisition and divestment of the PP&S business, our exposure is now concentrated in less-cyclical and high-growth markets, with increased geographic diversification and a more specialized portfolio that can significantly expand EBITDA margins. 20 Avient reflects 2021 estimated EBITDA of $560M OUR VALUATION VERSUS PEERS Avient Specialty Formulators Other Chemical/Specialty Companies 10.2 17.7 16.0 14.9 14.6 11.6 11.1 26.7 24.0 22.8 14.3 12.7 11.5 11.2 11.1 11.0 10.3 10.1 9.5 9.4 8.3 7.0 A vi en t K W R A V Y R P M P P G G C P F U L A L B H X L E C L IF F F M C B N R A S H G R A F O E S C L E M N U N V R C E K R A H U N Median: 11.1xMedian: 14.8x SUMMARY: WHY INVEST IN AVIENT?
https://www.avient.com/sites/default/files/2021-04/trilliant-hc8900-medical-device-housing-case-study.pdf
DEVICE MANUFACTURER M E D I C A L D E V I C E H O U S I N G • Improved chemical resistance compared to PC/ABS, PC/PET & COPE • Flame retardant (FR) rating of V-1 at 0.75 mm • Zero BPA & non-halogenated FR material • Available in standard hospital grade pre-colors • Provided a cost-effective material with superior chemical resistance to traditional materials • Formulated a medical-grade, semi-crystalline blend to support regulatory testing and approvals • Demonstrated superior property retention and crack resistance after exposure to hospital- grade disinfectants, including Virex® Tb, helping to extend the device life Trilliant™ HC8900 Thermoplastics KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2024-02/EMEA Automotive Case Study Paint Replacement Construction Vehicle _1_.pdf
LEARN MORE TIER 2 MOLDER P A N E L F O R C O N S T R U C T I O N V E H I C L E S • Transition from painting extruded sheet (3-5mm) to molded-in color for two different thermoplastics • UV stability • Good appearance for visible part • Expedited approved solution that delivered the appearance and performance of a painted part • Developed formulations for two materials- PMMA and ABS • Offered aluminum appearance and required UV stability SmartBatch™ FX for Paint Replacement KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/resources/safety-data-sheets?page=2409
GF 600 A 33 BLACK 28 V
BLUE 2935 C
186CMX PANTONE(R) 186 C SIMULATION