https://www.avient.com/sites/default/files/2021-09/avnt-q2-2021-earnings-presentation.pdf
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)
87
90
86
82 80 78
73
87
82 82 79 79 78 78 77 76
71
67
46
en
t
(6)
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
Other
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
en
t
Median: 11.1xMedian: 14.6x
SUMMARY: WHY INVEST IN AVIENT?
https://www.avient.com/sites/default/files/2021-11/carbon-fiber-reinforced-product-bulletin.pdf
VALUE SOLUTION
Superior strength-to-weight ratio and
rigidity for demanding applications
Carbon fiber reinforced products have excellent
tensile strength, corrosion resistance, and light
weight properties, as well as high modulus of
elasticity and excellent fatigue resistance.
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202012%2520-%2520Performance%2520Products%2520and%2520Solutions.pdf
HealthCare
Transportation
8%
Textiles
Target
Page 85
• Trend toward more
affordable housing
favors our product
1.5
2.0
2.5
Housing Starts
(in million units)
50 year average
Market Dynamics
• Ultimate housing
recovery presents
substantial upside to
already record-
setting results
Source: Historical Data from the US Census Bureau,
2012 estimate is a PolyOne projection.
0.0
0.5
1.0
'87 '89 '91 '94 '96 '98 '00 '02 '04 '06 '08 '10 '12
Page 86
Value Proposition
• Premier provider of specialized vinyl and supply chain solutions, leading
the industry in innovation and service
Transformation Highlights
• Management upgrades ensure that each PP&S business
Value Proposition and Transformation Highlights
• Management upgrades ensure that each PP&S business
maximizes performance
• Asset realignment and Lean Six Sigma reduce costs
• Strengthened relationship with winning customers
• Increased differentiation in all business units
> $12B Addressable Market
Page 87
Key Differentiators
• Providing application design, material design
and / or process design assistance not available
from competitors
• Capability to improve joint value streams
• We are the best innovator in our space • We are the best innovator in our space
• Expanding customers’ opportunities
by providing innovative materials
and marketing ideas
• We provide world-class customer
service and delivery performance
Page 88
13.7% 14.3%
15.5%
9.9%
6.2%
5.4%
WC % of Sales
• Best-in-class working
capital management and
delivery performance
• Improved raw material
Areas of Focus – Operational Excellence
89.1%
92.0%
94.2%
93.4% 93.4% 94.0%
On-Time Delivery
• Improved raw material
positions, sourcing savings
• PolyOne pilot site for many
LSS and manufacturing
excellence programs
*As measured to customer request date
*
Page 89
• reFlexTM Bioplasticizers
Applications: Wide variety of flexible vinyl-based products
• GeonTM HC for Healthcare
� Applications: Medical device housings, specialty tubing
� Customer benefits: Withstand aggressive antiseptics
Key Innovations
� Applications: Wide variety of flexible vinyl-based products
� Customer benefits: Lower carbon footprint,
improved productivity
• GeonTM SF Super Flow
� Applications: Large appliance parts, molded siding panels
� Customer benefits: Flame retardancy, detergent resistance
Page 90
Critical Imperatives and 2015 Goal
Critical Imperatives
• Accelerate innovation - grow in new applications not
historically served with vinyl
• Drive continuous improvement in manufacturing and
working capital efficienciesworking capital efficiencies
• Selectively leverage construction recovery
2015 Goal
• 9 - 12% return on sales
Page 91
Page 92
https://www.avient.com/sites/default/files/2022-04/Edgetek PKE Processing Guide.pdf
These formulations provide excellent chemical resistance, low moisture uptake,
excellent dimensional stability, and high impact and wear resistance.
https://www.avient.com/sites/default/files/2021-04/versalloy-medical-tubing-case-study.pdf
The hose manufacturer decided to explore other
material options that would meet requirements such
as excellent colorability, good surface appearance,
high flow for optimal productivity, and of course,
compliance with U.S.
In addition to its excellent colorability and high flow,
the Versalloy solution possessed a lower specific gravity
and resulted in lower scrap rates compared to the
competitive TPV, providing the opportunity to reduce
system costs.
https://www.avient.com/sites/default/files/2024-06/ECCOH 5981 for Teck 90 Cables Product Bulletin.pdf
KEY CHARACTERISTICS
• Smoke mitigation
• Flame resistance
• Passes -40° cold impact testing
• Crush resistance
• UV resistance
• Suitable for CSA Teck 90 specification
• Excellent tensile strength (2,910 psi)
• Natural grades for easy colorability
MARKETS & APPLICATIONS
This LSFOH thermoplastic meets critical
requirements for low-voltage, armored cable jackets.
Offering excellent mechanical properties, the ECCOH
5981 UV formulation provides a durable material
choice for Teck 90 cables used in demanding
locations where safety is paramount.
https://www.avient.com/sites/default/files/2022-02/Additives and Colorants for Stadium and Arena Seats Application Bulletin.pdf
UV STABILIZER/COLOR COMBINATIONS
• Combines color and UV stabilization for use
in PP and PA
• Ingredients screened with accelerated
weather testing*
• Excellent weather resistance properties
(against chalking, embrittlement)
• Long-term colorfastness and light stability
UV STABILIZER/FLAME RETARDANT/
COLOR COMBINATIONS
• Combines low halogen flame retardants,
UV stabilizers and color for use in PP and PA
• Ingredients screened with accelerated
weather testing*
• Excellent weather resistance properties
(against chalking, embrittlement)
• Compliant with local fire standards (e.g.:
AFNOR M 2 in France, DIN 4102 B 2 – B 1 in
Germany, UNI 8457 – 9174 C 1 in Italy, BKZ 5.2
in Switzerland, BS 5852.1990 CRIB 3-5 in UK)**
• Standard portfolio available for PP injection
molded applications
APPLICATION BULLETIN
* Laboratory weathering testing may not be determinative of all conditions of use;
the end user must determine suitability of a product for its intended use
** Contact us for more information on regulatory compliance
Copyright © 2022, Avient Corporation.
https://www.avient.com/sites/default/files/2024-09/Garage Door Composite Panel Application Bulletin.pdf
KEY CHARACTERISTICS
• Excellent impact resistance
• Lightweight without compromising durability
• UV and thermal stability
• Ability to withstand harsh conditions
• Resistance to rot and rust
• Simplified manufacturing processes
• Customizable material choice and appearance
Ready to make the switch?
POLYSTRAND™ THERMOPLASTIC PANELS
MATERIALS AND CHARACTERISTICS
Facesheet Resins Polypropylene (PP)
PETG
Facesheet
Reinforcement Glass Fiber
Core Materials PET Foam
PP Honeycomb
Characteristics
Lightweight
Excellent Impact Resistance
Formable
Value Engineered Facesheets
Recyclable
2-layer
Composite Laminate
Unidirectional Composite
Tape
3-layer
Composite Laminate
0°/90°/0°
4-layer
Composite Laminate
0°/90°/90°/0°
POLYSTRAND™ CONTINUOUS FIBER LAMINATES
Configuration
Wood & Polystrand X-ply
Aluminum & Polystrand X-ply
Common Material Reinforcements
POLYSTRAND™ COMPOSITE SANDWICH PANELS
Configuration
Fiber Reinforced Facesheet
Fiber Reinforced Facesheet
Core Material
https://www.avient.com/sites/default/files/resources/Replacing%2520Metal%2520with%2520Vinyl_0.pdf
Having experience in plastic injection molding,
Smart Hero knew the material also had to have
excellent flow characteristics to be able to fill
the complex geometry required for the light.
Additionally, the part had to have excellent
surface finish and appearance because
it is a highly visible consumer part.
https://www.avient.com/sites/default/files/resources/Resilience%2520LS%2520Diffuse%2520Comparison%2520Guide_No%2520CP.pdf
PDI) on extruded profiles
2 ASTM D-638
3 ASTM 256
4 ASTM D-648 66 psi, unannealed, 0.125"
5 Savings depends on profile size
and production volume
Acrylite is a registered trademark of
Evonik Performance Materials
Lens Performance
Resilience™ LS
Frost PVC
Acrylite® Satinice
Frost PMMA
Light Transmission1 at 0.060"
(1.5mm)
83% Low Diffusion
78% Medium Diffusion
75% High Diffusion
81% Low Diffusion
Diffusion Half Power Angle (DLD)
26° Low Diffusion
41° Medium Diffusion
58° High Diffusion
26° Low Diffusion
Tensile Strength2
Tensile Modulus2
Tensile Elongation (break)2
7,360 psi
400,000 psi
20%
7,330 psi
330,000 psi
43%
Flammability (UL 94)
V-0 @ 1.5mm
5VA @ 2.0mm
HB @ 1.6mm
Notched Izod Impact (73°F)3 2.3 ft-lb/in 0.6 ft-lb/in
Heat Deflection Temperature4 157°F/69°C 182°F/83°C
UV Stability Good Excellent
Chemical Resistance Excellent Good
Typical Lens Profile Cost 10–15% Savings5 Baseline
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www.polyone.com
Copyright © 2018, PolyOne Corporation.