https://www.avient.com/news/avient-expands-long-fiber-composites-portfolio-using-recycled-content
About Avient
Avient Corporation (NYSE: AVNT), with 2021 revenues of $4.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.
https://www.avient.com/news/new-compl-t-pke-materials-offer-additional-sustainable-alternatives-polyamides
Joining Edgetek™ PKE and LubriOne™ PKE materials launched in 2021, Complēt PKE formulations can provide alternatives to nylon (PA) and acetal (POM) based formulations, offering added supply security and sustainable benefits.
https://www.avient.com/news/avient-showcases-sustainable-polymers-colorants-and-services-mexico-and-latin-america-plastimagen
Avient Corporation (NYSE: AVNT), with 2021 revenues of $4.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.
https://www.avient.com/news/avient-launches-nymax-bio-low-water-absorption-and-bio-based-polyamides
Avient Corporation (NYSE: AVNT), with 2021 revenues of $4.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-earnings-presentation_0.pdf
Q 3 2 0 2 1 P E R F O R M A N C E
U P D AT E
$74
$99
2020 2021
$0.46
$0.70
2020 2021
Q3 2021 PERFORMANCE
( T O TA L C O M PA N Y )
4
Sales Adjusted Operating Income
$925
$1,220
2020 2021
+ 32%
Adjusted EPS
+ 34% + 52%
(in millions) (in millions)
Q3 2021 SEGMENT PERFORMANCE
5
CAI
$494
$587
Sales
($ in millions)
SEM Distribution
$51
$67
Operating Income
+19%
+31%
$277
$439
Sales
$18
$24
Operating Income
+58%
+33%
(1)
$174
$234
Sales
$25
$32
Operating Income
+34%
+28%
SPECIALTY EBITDA MARGIN EXPANSION
6
CAI
(1) 2018-2020 financial information is pro forma to include a full year of Clariant Color acquisition
15.3% 15.2%
16.2%
17.6%
2018 2019 2020 YTD 2021
14.8% 15.2%
17.6%
18.4%
2018 2019 2020 YTD 2021
(1)
SEM
• Continued portfolio transformation to
high-growth end markets and
sustainable solutions
• Clariant Color synergy realization
• Investments in composites and outdoor
high performance applications drive
growth and mix improvements
CAI EBITDA MARGIN EXPANSION
7
Legacy CAI
18.9% 18.9%
19.8%
2019 2020 YTD 2021
Legacy
Clariant
Color
11.9%
13.8%
15.7%
2019 2020 YTD 2021
• Synergy capture driving margin
improvement
• Favorable mix with growth in
healthcare, consumer and packaging
end-markets
• World-class vitality index of 35%
represents sales from products
introduced in the last five years.
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is
t.
)
K
W
R
P
P
G
A
V
Y
F
U
L
R
P
M
G
C
P
F
M
C
H
X
L
H
U
N
E
C
L
A
S
H
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M
N
C
E
S
C
L
Source: Peer data per Bloomberg market data as of October 25, 2021
Avient reflects 2021 estimated revenue of $4,750M and estimated CAPEX of $80M (excludes one-time synergy capture CAPEX of $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.
In 2021, we expect substantial earnings growth and strong cash flow generation as we emerge from the
COVID-19 pandemic.
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
$86
$123
2020PF 2021
$0.53
$0.89
2020PF 2021
Q1 2021 – ORGANIC PERFORMANCE
( T O TA L C O M PA N Y )
3
Sales Adjusted Operating Income
$991
$1,162
2020PF 2021
+ 17%
Adjusted EPS
+ 43% + 68%
(in millions) (in millions)
(1) (1) (1)
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
Q1 2021 SEGMENT PERFORMANCE
4
CAI
$536
$609
Sales
($ in millions)
SEM Distribution
$64
$89
Operating Income
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
+14%
+39%
$290
$363
Sales
$19
$24
Operating Income
+25%
+26%
(1)
$185
$217
Sales
$22
$34
Operating Income
+17%
+55%
SPECIALTY EBITDA MARGIN EXPANSION
5
CAI
(1) 2018-2020 financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
15.3% 15.2%
16.2%
19.1%
2018 2019 2020 Q1 2021
14.8% 15.2%
17.6%
19.4%
2018 2019 2020 Q1 2021
(1)
SEM
• Continued portfolio transformation to
high-growth end markets and
sustainable solutions
• Clariant Masterbatch synergy realization
• Investments in composites and outdoor
high performance applications drive
growth and mix improvements
CAI EBITDA MARGIN EXPANSION
6
Legacy CAI
18.9% 18.9%
21.0%
2019 2020 Q1 2021
Legacy
Clariant MB
11.9%
13.8%
17.4%
2019 2020 Q1 2021
• Early synergy capture translating to
the bottom line
• Positive mix with growth in healthcare,
consumer and packaging end-markets
• World-class vitality index of 36%
represents sales from products
introduced in the last five years.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
Median: 84% Median: 77%
H I G H F R E E C A S H F L OW
C O N V E R S I O N
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
e
n
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
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M
N
G
R
A
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K
R
A
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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.
In 2021, we expect substantial earnings growth and strong cash flow generation as we emerge from the
COVID-19 pandemic.
https://www.avient.com/news/avient-launches-long-fiber-composites-based-nylon-reclaimed-end-life-fishing-nets
Avient Corporation (NYSE: AVNT), with 2021 revenues of $4.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.
https://www.avient.com/news/avient-highlight-bio-based-polymer-solutions-pharmapack-2024
Launched in 2021, Mevopur™ Healthcare Bio-based Polymer Solutions are color and additive concentrates and ready-to-use formulations manufactured with bio-based polypropylene, polyethylene, polycarbonate, acrylonitrile butadiene styrene, or styrenic polymers.
https://www.avient.com/news/specialty-polymer-solutions-avient-improved-durability-and-sustainability-healthcare-products-pharmapack-2023
Introduced in 2021, the Mevopur portfolio also includes custom color and additive concentrates and ready-to-use formulations made with bio-based polyolefins, polycarbonate, acrylonitrile butadiene styrene, or styrenic polymers.
https://www.avient.com/news/avient-debuts-next-generation-solutions-facilitate-use-recycled-plastics-packaging-applications
About Avient
Avient Corporation (NYSE: AVNT), with 2021 revenues of $4.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.