https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf
Microsoft PowerPoint - AVNT Q4 2023 Earnings Presentation v7
AVIENT CORPORATION
F O U R T H Q U A R T E R 2 0 2 3 R E S U L T S A N D
2 0 2 4 F I N A N C I A L G U I D A N C E
(NYSE: AVNT)
F E B R U A R Y 1 4 , 2 0 2 4
D I S C L A I M E R
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.
ASHISH KHANDPUR
P R E S I D E N T & C E O
4
5
PORTFOLIO TRANSFORMATION
5
7%
46%
66%
87%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020 2023
%
o
f A
dj
us
te
d
E
B
IT
D
A
Commodity JVs Distribution Performance Products & Solutions Specialty Businesses
Adjusted EBITDA from Specialty Applications
SUSTAINABILITY AS A GROWTH DRIVER
7
LONG-TERM REVENUE GROWTH DRIVERS
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
60%+
Key Growth
Drivers
Total Company Revenue
Growth Drivers Long-Term Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other 0–2%
Avient 6%
END MARKET OBSERVATIONS
( % O F C O M PA N Y S A L E S )
ENERGY
5%
DEFENSE
7%
TELECOMMUNICATIONS
4%
HEALTHCARE
7%
8
TRANSPORTATION
10%
INDUSTRIAL
16%
BUILDING &
CONSTRUCTION 9%
CONSUMER
19%
PACKAGING
23%
9
REGIONAL OBSERVATIONS
( % O F C O M PA N Y S A L E S )
9
US & Canada
Latin America
EMEA
Asia
41%
36%
18%
5%
Q 4 2 0 2 3 R E S U L T S
Q4 2023 PERFORMANCE VS.
GUIDANCE
( T O TA L C O M PA N Y )
11
$710
$719
Guidance Actual
$112
$114
Guidance Actual
Sales Adjusted EBITDA
(in millions)
$0.47
$0.52
Guidance Actual
Adjusted EPS
(in millions)
13.5%
15.9%
2022 2023
Results vs.
https://www.avient.com/sites/default/files/resources/Proxy%2520Statement%2520for%2520Web%2520Hosting.pd_.pdf
EXECUTIVE COMPENSATION
EXECUTIVE COMPENSATION
2018 Summary Compensation Table
Stock Awards (column (d))
Option Awards (column (e))
Name and Principal Position
(a)
Year
(b)
Salary
($)
(c)
Stock
Awards
($)
(d)
Option
Awards
($)
(e)
Non-Equity
Incentive
Plan
Compensation
($)
(f)
All Other
Compensation
($)
(g)
Total
($)
(h)
Lisa K.
Kunkle, Senior Vice President,
General Counsel and Secretary(1)
Bradley C.
Other Benefits.
2018 Grants of Plan-Based Awards
Target
($)
(d)
Estimated Future Payouts
Under Equity Incentive
Plan Awards
Exercise or
Base Price of
Option Awards
($/Sh)
(i)
Threshold
(#)
(f)
Estimated Future Payouts Under Non-
Equity Incentive Plan Awards
Name
(a)
Grant Date
(b)
Grant Date
Fair Value
of Stock
and Option
Awards
($)
(j)
Threshold
($)
(c)
Maximum
($)
(e)
All Other Stock
Awards:
Number of
Shares of Stock
or Units
(#)
(h)
Target
(#)
(g)
EXECUTIVE COMPENSATION
Estimated Future Payouts Under Non-Equity Incentive Plan Awards (columns (c), (d) and (e))
(1) 2018 Annual Incentive Program Payments
(2) Cash-Settled Performance Units.
https://www.avient.com/sites/default/files/2022-02/Sustainability ESG Disclosures_Carbon Black.pdf
DOCUMENT NUMBER_ SSS-001
CATEGORY DETAIL
EC Number 215-609-9
CAS Number 1333-86-4
Name Subclass 1 Carbon Black
Structural Formula
CHEMICAL IDENTITY
H
|
C||||HH
H
DOCUMENT NUMBER_ SSS-001
HEALTH EFFECTS
HUMAN HEALTH SAFETY ASSESSMENT
Consumer
Overall, as a result of the detailed epidemiological investigations,
no causative link between Carbon Black exposure and cancer risk
in humans has been demonstrated.
Toxicity for Reproduction
PROPERTY DETAIL
Physical State Solid
Form Powder/ Beads
Color Black
Odor Odorless
Melting Point 3550°C
Boiling Point 500–600°C
Partition Coefficient:
N-octanol/Water
Not Applicable
Bulk Density 1.7-1.8 g/cm3 (20°C)
Water Solubility Insoluble
Self-ignition Temperature >284°F
Flammability >45 s
Explosiveness 50 g/m3
PHYSICAL/CHEMICAL PROPERTIES
DOCUMENT NUMBER_ SSS-001
EXPOSURE
HUMAN HEALTH SAFETY ASSESSMENT
Human Health
Carbon Black, when generally used as noted above is bound into a matrix.
https://www.avient.com/sites/default/files/2021-06/fl.us-.datasheet-vectranr-lcp.pdf
Vectran® is thermotropic and melts at 330°C.
Key Features
• High strength to weight ratio
• Good creep resistance
• High abrasion resistance
• Excellent flex fatigue properties
• Minimal moisture absorption
• Excellent chemical resistance
Disadvantages
• Vectran® suffers from UV degradation, which
causes strength loss and discoloration
• Hair-like filaments tend to fray
FIBER-LINE® PROCESS FOR
VECTRAN® LIQUID CRYSTAL POLYMER
• Coating
• Twisting
• Extrusion
• Pultrusion
• Precision Winding
FIBER-LINE® VECTRAN® PRODUCTS
• Strength Members
• Ripcords
• Belt & Hose Reinforcement Yarn
• Industrial Fabric Yarn
• Synthetic Wire Rope
Abrasion
Resistance
Yarn on Yarn
Abrasion
Ultraviolet (UV)
Resistance
Flame
Resistance
Chemical
Resistance
(Acid)
Chemical
Resistance
(Alkali)
Chemical
Resistance
(Organic Solvent)
P P X P P P P
Property UOM Value
Breaking Tenacity g/d 23.0
Specific Gravity Ratio 1.40
Elongation @ Break % 3.8
Tensile Modulus g/d 600
Moisture Regain* %
LIQUID CRYSTAL POLYMER (LCP)
LIQUID CRYSTAL POLYMER (HM) BARE FIBER PERFORMANCE
* Equilibrium moisture regain @ 55% RH ** Creep @ 40%-58% ultimate tensile strength *** Shrinkage in dry air @ 177 C for 30 minutes
MOVING HIGH PERFORMANCE FIBERS FORWARD
ABOUT FIBER-LINE®
LOCATIONS
Headquarters, R&D, Manufacturing
FIBER-LINE® LLC
3050 Campus Drive
Hatfield, PA 19440
+1 215.997.9181
fiber@fiber-line.com
Manufacturing Operations
FIBER-LINE® LLC
280 Performance Drive SE
Hickory, NC 28602
+1 828.326.8700
fiber@fiber-line.com
EMEA & Asia Pacific Operations
FIBER-LINE® INTERNATIONAL B.V.
https://www.avient.com/sites/default/files/2022-05/ColorMatrix Amosorb Solo Technical Bulletin.pdf
The coarse ground material was then
crystallized in a vacuum oven at 160°C before
drying the material at 160°C for approx. 4 hours
within a PET drier
• Plaques were then molded on a BOY XS and 10
of these were kept after each cycle, to take color
measurements
• This process was then repeated until 5 heat
cycles had been completed
RESULTS FOR RECYCLABILITY METHOD-1
As plaques were produced while the material went
through five different melt heat histories, plaques
were produced at each cycle and L*, a*, and b*
values were measured.
Key: A = 4% Amosorb SolO2-2 + Fortis Amber-1 @ 0.09%; B = 50% Regrind A + 50%
Virgin PET; C = 50% Regrind A + 50% Virgin PET + Fortis Amber @ 0.045%
REGRIND COMBINATION STUDY - METHODOLOGY
1.844.4AVIENT
www.avient.com
Copyright © 2022, Avient Corporation.
It was also demonstrated that usage of a reduced
amount of color, namely 0,045% of Fortis Amber-1,
allows the production of bottles (Bottle C) that closely
resembles the original bottles (Bottle A).
https://www.avient.com/sites/default/files/2022-06/2021_CDP Supplier Engagement Rating_Avient.pdf
SER_Report_2021
ACTIVITY GROUP PERFORMANCE
Trading, wholesale, distribution, rental & leasing
Your company is amongst 19% of companies that reached Leadership level in
your Activity Group
A sample of A-list companies
from your Activity Group:
Grupo Logista
Hilton Food Group plc
Lerøy Seafood Group
Samsung C&T
Avient received a A- which is in the Leadership band.
Leadership (A/A-): Implementing current best practices
Management (B/B-): Taking coordinated action on supplier engagement
Awareness (C/C-): Knowledge of impacts of supplier engagement
Disclosure (D/D-): Transparent about supplier engagement
UNDERSTANDING YOUR SCORE REPORT
Avient
Region North America
Country United States of America
Questionnaire Chemicals
Activity Group Trading, wholesale, distribution, rental &
leasing
CDP evaluates organizations engagement with
their suppliers on climate change.
https://www.avient.com/sites/default/files/2020-12/resound-om-technical-bulletin_0.pdf
Peel, PLI 12 19 23 20 19
reSound OM 5510 for PP
reSound OM 5510-60N Room Temperature 70C
1 day 1 week 2 weeks 6 months 1 week 2 weeks 3 weeks
Bio-derived Content (%) 50% 50% 50% 50% 50% 50% 50%
Hardness, Shore A 60 60 60 60 60 60 60
Specific Gravity 0.89 0.89 0.89 0.89 0.89 0.89 0.90
50% Modulus, PSI 247 241 244 251 234 244 240
100% Modulus, PSI 343 333 338 339 321 331 326
Tensile Strength, PSI 625 621 647 610 633 662 642
Elongation, % 306 314 309 313 312 315 315
Tear Strength, PLI 109 108 113 113 111 117 115
reSound OM 5520-55N Room Temperature 70C
1 day 1 week 2 weeks 6 months 1 week 2 weeks 3 weeks
Bio-derived Content (%) 49% 49% 49% 49% 49% 49% 49%
Hardness, Shore A 54 54 55 55 54 55 56
Specific Gravity 0.95 0.95 0.96 0.96 0.95 0.96 0.96
50% Modulus, PSI 258 256 256 265 266 271 257
100% Modulus, PSI 353 355 357 362 373 379 367
Tensile strength, PSI 637 615 637 669 651 674 642
Elongation, % 319 315 319 333 313 319 315
Tear Strength, PLI 146 136 133 142 137 138 141
reSound OM 5510-45N Room Temperature 70C
1 day 1 week 2 weeks 6 months 1 week 2 weeks 3 weeks
Bio-derived Content (%) 40% 40% 40% 40% 40% 40% 40%
Hardness, Shore A 45 46 47 46 46 45 45
Specific Gravity 0.88 0.89 0.89 0.89 0.89 0.89 0.90
50% Modulus, PSI 153 158 154 162 137 136 133
100% Modulus, PSI 251 259 259 261 226 222 218
Tensile Strength, PSI 438 481 451 495 417 470 486
Elongation, % 215 240 211 243 204 227 238
Tear Strength, PLI 84 81 87 82 83 85 84
AGING – PROPERTY RETENTION
• Tested at room temperature and 70° C for comparison • Hardness, tensile strength elongation and modulus
showed great retention
Overmolding onto PP
Overmolding onto ABS
RHEOLOGY
Suitable for injection molding and overmolding
1.0
10 100 1000 10000 100000
10.0
100.0
1000.0
reSound OM 5510-30N
reSound OM 5510-45N
reSound OM 5510-60N
reSound OM 5510-70N
Shear Rate, 1/s
C
ap
ill
ar
y
Vi
sc
os
it
y,
P
a*
s
1.0
10 100 1000 10000 100000
10.0
100.0
1000.0
reSound OM 5520-55N
Shear Rate, 1/s
C
ap
ill
ar
y
Vi
sc
os
it
y,
P
a*
s
Capillary viscosity at 200°C
Capillary viscosity at 200°C
reSound OM 5510 for PP
reSound OM 5520 for ABS
www.avient.com
Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2020-08/tpes-for-automotive-industry-bulletin.pdf
INDUSTRY BULLETIN
STANDARD UNITS ONFLEX LO 7120-45N
Volatile Organic Compounds VDA 278 ug/g(ppm) 41
Fogging VDA 278 ug/g(ppm) 521
Odor
• Control
• Dry conditions
• Wet conditions
SAE J1351 (15) 1-10 Scale
1
2
1
Compression Set (23°C)
• 22 hours
• 70 hours
ASTM D395 % 14.4
14.6
Capillary Viscosity
• 1341/s
• 11170/s
ASTM D3835 Pa*s 35
7
HVAC SYSTEMS
OnFlex™ LO
• Features: low VOC/FOG, low odor, good compression set, easy processing, overmolds to polypropylene
• Example applications: seals and flaps in heating, ventilation and air conditioning systems
CHARACTERISTICS ONFLEX
™
LO
ONFLEX™
AF
TPE
GENERAL
PURPOSE
TPV TPO
Volatile Organic Compounds (VDA 278) Very Low Moderate Moderate Moderate Very Low
Fogging (VDA 278 & DIN 75201) Very Low Moderate Moderate High Very Low
Odor (VDA 270 Requirement ≤3.0) ≤3.0 ≤3.0 >3 >3 ≤3.0
Gloss Level Low Low Low Very Low High
Tactile Feel Grippy Grippy Grippy Grippy Waxy
Pre-Drying Required No No No Yes No
Raw Material Costs $$ $$ $$ $$$ $
Compression Set @ RT Good Good Good Excellent N/A
Compression Set @ ≥70°C Moderate Moderate Moderate Good N/A
UV Resistance Good Excellent Good Good Good
Weatherability Good Excellent Good Good Good
Hardness Range Low to High Low to High Low to High Low to High High
Density (g/ml) 1.15 0.99 0.90–1.20 0.95–0.98 0.90–1.20
GENERAL CHARACTERISTICS COMPARING TPE, TPV, TPO
Grades shown on both pages are representative of solutions manufactured in North America, more grades available globally.
INTERIORS/EXTERIORS
TEMP STANDARD UNITS ONFLEX AF 7210-40B
ONFLEX AF
7210-50B
ONFLEX AF
7210-60B
ONFLEX AF
7210-70B
ONFLEX AF
7210-80B
QUV Exposure
• 1000 Hrs(0.68 W/m2 @ 340nm)
• 2000 Hrs(0.68 W/m2 @ 340nm)
45°C ΔE
0.49
0.38
0.42
0.48
0.21
0.85
0.22
0.14
0.32
0.24
Xenon-Arc Exposure
• 1000 Hrs(0.35 W/m2 @ 340nm) 63°C ΔE 0.63 0.84 0.34 — 0.58
Capillary Viscosity
• 1341/s
• 11170/s
ASTM
D3835
Pa*s
60
11.4
79
15
65
13
48
13.7
73
16
Ozone Resistance
ASTM
D1149(16) B
Visual No cracks No cracks No cracks No cracks No cracks
Low Temperature Brittleness ISO 812 B °C -63 -62 -62 -62 -62
OnFlex™ AF
• Features: long-term sealing performance, reduced noise and vibration, grippy feel, low gloss, low odor,
excellent UV resistance and weatherability, easy processability, overmolds to polypropylene
• Example applications: trays, door pockets, fasteners, clips, roof rack pads, roof and door trim, and
window encapsulations
The need to innovate is virtually endless.
https://www.avient.com/sites/default/files/2021-11/avient-th.-bergmann-gmbh-cr-extract-nov-8-2021.pdf
Handelsregister B des Amtsgerichts Mannheim Nummer der Firma:
Seite 1 von 4
HRB 521568
Nummer
der
Eintragung
a) Firma
b) Sitz, Niederlassung, inländische
Geschäftsanschrift, empfangsberechtigte
Person, Zweigniederlassungen
c) Gegenstand des Unternehmens
Grund- oder
Stammkapital
a) Allgemeine Vertretungsregelung
b) Vorstand, Leitungsorgan, geschäftsführende
Direktoren, persönlich haftende Gesellschafter,
Geschäftsführer, Vertretungsberechtigte und
besondere Vertretungsbefugnis
Prokura a) Rechtsform, Beginn, Satzung oder Gesellschaftsvertrag
b) Sonstige Rechtsverhältnisse
a) Tag der Eintragung
b) Bemerkungen
1 2 3 4 5 6 7
1 a)
PolyOne Th.
Bergmann GmbH
b)
Gaggenau
c)
Die Herstellung, Verarbeitung, Vertrieb
sowie Handel von Kunststoffen oder
Kunststoffcompounds aller Art.
a)
02.02.2017
Rinke
9 b)
Berichtigung von Amts wegen zur
Geschäftsanschrift:
Adolf-Dambach-Str. 2, 76571 Gaggenau
a)
06.06.2018
Rinke
10 b)
Bestellt als
Geschäftsführer:
a)
25.03.2019
Rinke
Abruf vom 08.11.2021 19:52
Handelsregister B des Amtsgerichts Mannheim Nummer der Firma:
Seite 4 von 4
HRB 521568
Nummer
der
Eintragung
a) Firma
b) Sitz, Niederlassung, inländische
Geschäftsanschrift, empfangsberechtigte
Person, Zweigniederlassungen
c) Gegenstand des Unternehmens
Grund- oder
Stammkapital
a) Allgemeine Vertretungsregelung
b) Vorstand, Leitungsorgan, geschäftsführende
Direktoren, persönlich haftende Gesellschafter,
Geschäftsführer, Vertretungsberechtigte und
besondere Vertretungsbefugnis
Prokura a) Rechtsform, Beginn, Satzung oder Gesellschaftsvertrag
b) Sonstige Rechtsverhältnisse
a) Tag der Eintragung
b) Bemerkungen
1 2 3 4 5 6 7
Potoczny, Zaneta Gabriela, Mersch / Luxemburg,
*17.10.1974
mit der Befugnis, im Namen der Gesellschaft mit
sich im eigenen Namen oder als Vertreter eines
Dritten Rechtsgeschäfte abzuschließen.
https://www.avient.com/sites/default/files/2022-11/Wilflex Epic Rio Ready-for-Use Standard Colors Interactive Color Card.pdf
Wilflex Epic Rio RFU colors cure as low as
266°F (130°C), reducing energy consumption, dye
migration, and the possibility of garment damage.
Wilflex Epic Rio RFU Colors also provide exceptional
wet-on-wet printing capabilities, an optimal soft
hand, excellent stretch, and a matte finish.*
HIGHLIGHTS
• 33 most popular industry colors
• Flexible cure profile
(266°F/130°C to 320°F/160°C)
• Excellent opacity
• Wet-on-wet printing
• Matte finish*
• ECO PASSPORT by OEKO-TEX® and ZDHC MRSL
Conformance Level 3 certifications**
* Gloss may increase when cured at temperatures above 266°F (130°C)
** To learn about compliance standards applicable to specifics inks,
please contact your Avient Specialty Inks distributor.
For more information about Wilflex screen printing inks,
please call 1.844.4AVIENT, email askspecialtyinks@avient.com
or visit www.avientspecialtyinks.com or www.wilflex.com
www.wilflex.com
Yellow Swatch:
Yellow:
1655 Swatch:
1655:
1795 Swatch:
1795:
2685 Swatch:
2685:
1235 Swatch:
1235:
116 Swatch:
116:
Bright Red Swatch:
Bright Red:
3546 Swatch:
3546:
7645 Swatch:
7645:
137 Swatch:
137:
1807 Swatch:
1807:
227 Swatch:
227:
1788 Swatch:
1788:
2397 Swatch:
2397:
2925 Swatch:
2925:
2768 Swatch:
2768:
805 Swatch:
805:
156 Swatch:
156:
3435 Swatch:
3435:
7488 Swatch:
7488:
287 Swatch:
287:
253 Swatch:
253:
296 Swatch:
296:
2145 Swatch:
2145:
806 Swatch:
806:
421 Swatch:
421:
348 Swatch:
348:
3005 Swatch:
3005:
809 Swatch:
809:
423 Swatch:
423:
2422 Swatch:
2422:
811 Swatch:
811:
Black Diamond Swatch:
PMS Black 3 C: