https://www.avient.com/sites/default/files/2025-06/ColorMatrix Joule Fast Reheat Dispersions Tech Bulletin.pdf
On occasion, Joule
RHB products can also be used in bottle polymer
destined for water applications, but this usage
decision depends on the application tolerance to
color which must be determined via marketing
specialists prior to any trials.
The proprietary ColorMatrix technology has been
shown to deliver superior energy saving at bottle
blowing whilst at the same time imparting an
attractive light blue-shaded color to the preforms
(and bottles) without contributing to bottle haze.
Re-establishment of the toner package will be
required to achieve proper resin color.
https://www.avient.com/sites/default/files/2021-07/avnt-q2-2021-earnings-release.pdf
Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Sales: Color, Additives and Inks $ 624.4 $ 226.8 $ 1,233.7 $ 483.3 Specialty Engineered Materials 240.6 158.8 457.1 344.1 Distribution 404.4 238.8 767.1 528.3 Corporate and eliminations (34.2) (15.3) (60.4) (35.1) Sales $ 1,235.2 $ 609.1 $ 2,397.5 $ 1,320.6 Gross margin: Color, Additives and Inks $ 193.4 $ 75.7 $ 390.9 $ 165.1 Specialty Engineered Materials 69.6 42.5 134.3 95.1 Distribution 40.1 27.2 79.4 60.8 Corporate and eliminations (14.4) 4.3 (13.5) 0.2 Gross margin $ 288.7 $ 149.7 $ 591.1 $ 321.2 Selling and administrative expense: Color, Additives and Inks $ 107.1 $ 43.4 $ 215.8 $ 92.3 Specialty Engineered Materials 32.3 25.5 62.8 55.8 Distribution 16.4 12.6 31.7 26.8 Corporate and eliminations 24.8 30.2 52.3 55.5 Selling and administrative expense $ 180.6 $ 111.7 $ 362.6 $ 230.4 Operating income: Color, Additives and Inks $ 86.3 $ 32.3 $ 175.1 $ 72.8 Specialty Engineered Materials 37.3 17.0 71.5 39.3 Distribution 23.7 14.6 47.7 34.0 Corporate and eliminations (39.2) (25.9) (65.8) (55.3) Operating income $ 108.1 $ 38.0 $ 228.5 $ 90.8 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 111.6 $ 42.9 $ 227.7 $ 94.4 Specialty Engineered Materials 45.4 24.6 87.4 54.4 Distribution 23.9 14.7 48.1 34.2 Corporate and eliminations (39.0) (23.3) (63.8) (51.4) Other income, net 1.2 9.5 $ 2.7 $ 11.1 EBITDA $ 143.1 $ 68.4 $ 302.1 $ 142.7 12 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
Reconciliation of Pro Forma Adjusted Earnings per Share: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Year Ended December 31, 2020 Net income from continuing operations attributable to Avient shareholders $ 23.0 $ 56.1 $ 132.0 Special items, after tax 2.6 11.2 24.8 Adjusted net income from continuing operations excluding special items 25.6 67.3 156.8 Clariant MB pro forma adjustments to net income from continuing operations(2) 12.9 20.7 20.7 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 38.5 $ 88.0 $ 177.5 Weighted average diluted shares 91.8 89.4 90.6 Pro forma impact to diluted shares from January 2020 equity offering(2) — 2.9 1.5 Pro forma weighted average diluted shares 91.8 92.3 92.1 Adjusted EPS - excluding special items pro forma for Clariant MB acquisition $ 0.42 $ 0.95 $ 1.93 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 14 Three Months Ended June 30, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(2) Pro Forma Adjusted Avient Sales $ 609.1 $ — $ 609.1 $ 261.1 $ 870.2 Operating income $ 38.0 $ 9.0 $ 47.0 $ 22.0 $ 69.0 Interest expense, net (16.2) — (16.2) (5.3) (21.5) Other income, net 9.5 (6.6) 2.9 — 2.9 Income taxes (7.9) 0.2 (7.7) (3.8) (11.5) Net income attributable to noncontrolling interests (0.4) — (0.4) — (0.4) Net income from continuing operations attributable to Avient shareholders $ 23.0 $ 2.6 $ 25.6 $ 12.9 $ 38.5 Weighted average diluted shares 91.8 Pro forma adjusted EPS $ 0.42 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition Six Months Ended June 30, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share: Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(2) Pro Forma Adjusted Avient Sales $ 1,320.6 $ — $ 1,320.6 $ 540.5 $ 1,861.1 Operating income $ 90.8 $ 18.7 $ 109.5 $ 45.0 $ 154.5 Interest expense, net (25.6) — (25.6) (18.1) (43.7) Other income, net 11.1 (6.7) 4.4 — 4.4 Income taxes (19.8) (0.8) (20.6) (6.2) (26.8) Net income attributable to noncontrolling interests (0.4) — (0.4) — (0.4) Net income from continuing operations attributable to Avient shareholders $ 56.1 $ 11.2 $ 67.3 $ 20.7 $ 88.0 Weighted average diluted shares 89.4 Impact to diluted shares from January 2020 equity offering 2.9 Pro forma weighted average diluted shares 92.3 Pro forma adjusted EPS $ 0.95 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 15 Reconciliation of EBITDA by Segment Three Months Ended June 30, Six Months Ended June 30 2021 2020 2021 2020 Operating income: Color, Additives and Inks $ 86.3 $ 32.3 $ 175.1 $ 72.8 Specialty Engineered Materials 37.3 17.0 71.5 39.3 Distribution 23.7 14.6 47.7 34.0 Corporate and eliminations (39.2) (25.9) (65.8) (55.3) Operating income $ 108.1 $ 38.0 $ 228.5 $ 90.8 Items below OI in Corporate: Other income, net $ 1.2 $ 9.5 $ 2.7 $ 11.1 Depreciation & amortization: Color, Additives and Inks $ 25.3 $ 10.6 $ 52.6 $ 21.6 Specialty Engineered Materials 8.1 7.6 15.9 15.1 Distribution 0.2 0.1 0.4 0.2 Corporate and eliminations 0.2 2.6 2.0 3.9 Depreciation & Amortization $ 33.8 $ 20.9 $ 70.9 $ 40.8 EBITDA: Color, Additives and Inks $ 111.6 $ 42.9 $ 227.7 $ 94.4 Specialty Engineered Materials 45.4 24.6 87.4 54.4 Distribution 23.9 14.7 48.1 34.2 Corporate and eliminations (39.0) (23.3) (63.8) (51.4) EBITDA $ 143.1 $ 68.4 $ 302.1 $ 142.7 EBITDA as a % of Sales: Color, Additives and Inks 17.9 % 18.9 % 18.5 % 19.5 % Specialty Engineered Materials 18.9 % 15.5 % 19.1 % 15.8 % Distribution 5.9 % 6.2 % 6.3 % 6.5 % 16 Reconciliation of Pro Forma EBITDA - Color, Additives and Inks Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Sales: Color, Additives and Inks $ 624.4 $ 226.8 $ 1,233.7 $ 483.3 Clariant MB pro forma adjustments(2) — 261.1 — 540.5 Pro forma sales $ 624.4 $ 487.9 $ 1,233.7 $ 1,023.8 Operating income: Color, Additives and Inks $ 86.3 $ 32.3 $ 175.1 $ 72.8 Clariant MB pro forma adjustments(2) — 22.0 — 45.0 Pro forma operating income $ 86.3 $ 54.3 $ 175.1 $ 117.8 Depreciation & amortization: Color, Additives and Inks $ 25.3 $ 10.6 $ 52.6 $ 21.6 Clariant MB pro forma adjustments(2) — 15.0 — 30.1 Pro forma depreciation & amortization $ 25.3 $ 25.6 $ 52.6 $ 51.7 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): Color, Additives and Inks $ 111.6 $ 42.9 $ 227.7 $ 94.4 Clariant MB pro forma adjustments(2) — 37.0 — 75.1 Pro forma EBITDA $ 111.6 $ 79.9 $ 227.7 $ 169.5 Pro forma EBITDA as a % of Sales 17.9 % 16.4 % 18.5 % 16.6 % (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition Three Months Ended June 30, Six Months Ended June 30, Reconciliation to Pro Forma Adjusted EBITDA: 2021 2020 2021 2020 Net income from continuing operations – GAAP $ 69.4 $ 23.4 $ 149.1 $ 56.5 Income tax expense 20.4 7.9 43.3 19.8 Interest expense 19.5 16.2 38.8 25.6 Depreciation and amortization from continuing operations 33.8 20.9 70.9 40.8 EBITDA $ 143.1 $ 68.4 $ 302.1 $ 142.7 Special items, before tax 14.2 2.4 16.6 12.0 Interest expense included in special items — (0.5) — (0.5) Depreciation and amortization included in special items 1.4 (1.2) 0.8 (1.2) Adjusted EBITDA $ 158.7 $ 69.1 $ 319.5 $ 153.0 Clariant MB pro forma adjustments(2) — 37.0 — 75.1 Pro forma adjusted EBITDA $ 158.7 $ 106.1 $ 319.5 $ 228.1 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
https://www.avient.com/sites/default/files/2022-08/AVNT Aug 2022 Presentation - Jefferies.pdf
Pro Forma Financial Information Avient acquired the Clariant Color business on July 1, 2020 (the “Acquisition Date”).
To provide comparable financial results, Avient references “pro forma” financial metrics, which include the business results of Clariant Color for periods prior to the Acquisition Date.
WHAT WE DO: MATERIAL SCIENCE 5 CUSTOM FORMULATION SUSTAINABILITY FOR A BETTER TOMORROW Revenue From Sustainable Solutions* 2016-2021 $310 205 140 80 75 45 40 20 $915M2021 Sales ($ in millions) *Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”) **2020 is Pro Forma to include full year of the Clariant Color business Future Growth Revenue Assumptions From Sustainable Solutions: 8 - 12% 6 S E CO N D Q UART E R 2022 RE S U LT S $122 $134 2021 2022 $0.87 $0.98 2021 2022 Q2 2022 PERFORMANCE (TOTAL COMPANY) 8 Sales Adjusted Operating Income $1,235 $1,302 2021 2022 + 5% Adjusted EPS + 10% + 13% (in millions) (in millions) (+ 10% excluding FX) (+ 16% excluding FX) (+ 20% excluding FX) Q2 2022 SEGMENT PERFORMANCE 9 CAI $624 $649 Sales ($ in millions) SEM Distribution $86 $94 Operating Income + 4% + 9% $404 $443 Sales $24 $27 Operating Income + 10% + 13% (1) $241 $244 Sales $37 $37 Operating Income + 1% Flat (+ 10% excluding FX) (+ 16% excluding FX) (+ 6% excluding FX) (+ 3% excluding FX) Q2 2021 $1,235 $122 Sustainable Solutions 17 7% 7 Healthcare 23 14% 5 Composites (ex Outdoor High Performance) 10 20% 4 Growth in Asia / LATAM 5 3% 1 Other 69 11% 5 Sub-total $1,359 10% $144 Outdoor High Performance Impact (9) (5) Wage Inflation and Overtime (7) Other Supply Chain Costs (2) Clariant Color Integration Synergies 7 Incentives, Other Employee Costs 4 FX (48) (7) Q2 2022 $1,302 5% $134 Q2 2022 SALES AND OPERATING INCOME (TOTAL COMPANY) 10 Sales Growth Rate Adjusted Operating Income$ millions Adjusted EBITDA Q2 EBITDA BRIDGE 11 Price increases more than offsets raw material and supply chain impacts Q2 2021 $ 159 Demand (29) $ millions CAI: Price / Mix 87 Inflation (58) SEM: Price / Mix 36 Inflation (24) Distribution: Price / Mix 45 Inflation (41) Net Price Benefit 45 Wage Inflation and Overtime (7) Other Supply Chain Costs (2) Clariant Color Integration Synergies 7 Incentives, Other Employee Costs 4 FX (7) Q2 2022 $ 170 China Lockdowns / Russia Impact $ (14) Outdoor High Performance (5) Transportation (5) 12 Q2 '21 Adjusted EPS 0.87$ Color, Additives and Inks 0.11 Specialty Engineered Materials 0.01 Distribution 0.03 Corporate Costs 0.01 F/X (0.05) Segment OI 0.11$ Interest Expense 0.03 Tax Rate (0.03) Q2 '22 Adjusted EPS 0.98$ Q2 EPS BRIDGE Key Updates • Provided progress on 2030 Sustainability Goals • Emphasized commitment to U.N.
https://www.avient.com/sites/default/files/2020-10/luxury-closures-gravi-tech-design-guide-2.0-application-specific.pdf
Add visual surface effects and aesthetics without complexity – You can achieve various aesthetic appearances using Gravi-Tech material such as color variation, metallic finish, or marbling and swirling.
CHAPTER 1 | APPLICATION SUMMARY Design Guide 5 GRAVI-TECH GT5200-0013 GRAVI-TECH GT6000-0004 GRAVI-TECH GT7300-0006 GRAVI-TECH GT5200-5003 GRAVI-TECH GT6000-5002 GRAVI-TECH GT7300-5007 Specific Gravity* 2.0 3.0 2.0 2.5 2.6 2.2 Color Options* Various Various Black to Grey Black Various Various Electroplating No Possibly Yes Possibly Possibly Yes Base Resin PP PA6 ABS PP PA6 ABS FDA Compliant* Yes Yes Yes Yes No Yes Region Produced North America North America North America Europe Europe Europe Full Name X GT5200-0013 PT White X GT6000-0004 PT White X GT7300-0006 PT Black GT7300-5003 Black FD GT6000-5002 EI White 1 GT7300-5007 X2 White FD *Please contact Avient for additional information 6 Gravi-Tech CHAPTER 2 | PROCESS SETTINGS Density Modified Formulations Gravi-Tech™ polymer-metal composites are high-density materials developed as thermoplastic- based alternatives to metals.
It provides additional mixing to the melt, which is especially helpful when using colorants.
https://www.avient.com/sites/default/files/2024-08/Avient Q2 2024 Earnings Call Presentation.pdf
FX +4.6% FX -1.5% Total Avient +3.1% Note: Regional Sales Percentages exclude impact of foreign exchange Q2 2024 SEGMENT PERFORMANCE (COLOR, ADDITIVES & INKS) $525 $542 Q2 23 Q2 24 $94 $108 Q2 23 Q2 24 19.9% Sales Adjusted EBITDA (in millions) (in millions) Sales Adjusted EBITDA 7 17.9% +200 bps * * * Adjusted EBITDA Margin % • Organic sales growth in all regions led by Americas • Raw material deflation combined with cost reduction actions drove EBITDA margin expansion + 3% (+5% excluding FX) + 15% (+17% excluding FX) Q2 2024 SEGMENT PERFORMANCE (SPECIALTY ENGINEERED MATERIALS) $301 $308 Q2 23 Q2 24 $60 $64 Q2 23 Q2 24 20.6% Sales Adjusted EBITDA (in millions) (in millions) Sales Adjusted EBITDA 8 19.8% +80 bps * * * Adjusted EBITDA Margin % • Sales growth in consumer, healthcare and building & construction end markets offset by weaker demand in telecommunications • EBITDA margin expansion driven by positive end market mix as well as raw material deflation + 2% (+4% excluding FX) + 7% (+8% excluding FX) 2024 G U IDA N CE FY 2024 GUIDANCE Previous (May 7) Current Adjusted EBITDA $510 to $535 million $515 to $540 million Adjusted EPS $2.50 to $2.65 $2.55 to $2.70 Interest Expense $105 million $105 million Adjusted Effective Tax Rate 23% to 25% 23% to 25% Capital Expenditures ~$140 million ~$140 million 10 Q3 2024: Adjusted EPS of $0.62 11 Highlights • Provides performance updates on 2030 Sustainability Goals • Reduced company’s Scope 1 & 2 GHG emissions by 48% since 2019 • Highlights ESG performance ratings, certifications, and awards, including recent upgrades by Ecovadis to Gold and CDP to A- • Reflects Great Place to Work® culture focused on health, safety and employee engagement 2023 SUSTAINABILITY REPORT 11 Sustainability for a Better Tomorrow 2023 SUSTAINABILITY REPORT 12 • Investor Day to be held December 4, 2024 in New York, NY • The focus will be to do a deep dive on the Company’s strategy • Further details to be communicated 2024 AVIENT INVESTOR DAY AP P EN D IX 15 Performance Additives 15% Pigments 13% TiO2 9% Dyestuffs 2% Polyethylene 10%Nylon 5% Polypropylene 4% Styrenic Block Copolymer 4% Other Raw Materials 38% ~40% hydrocarbon based (Grey shaded materials are hydrocarbon based, includes portion of “Other Raw Materials”) Non-hydrocarbon based materials RAW MATERIAL BASKET SEGMENT DATA U.S. & Canada 41% EMEA 36% Asia 18% Latin America 5% 2023 SEGMENT, END MARKET AND GEOGRAPHY GEOGRAPHY REVENUESEGMENT FINANCIALS Consumer 19% Packaging 23%Industrial 16% Building and Construction 9% Telecommunications 4% Energy 5% Defense 7% END MARKET REVENUE $2,007M $358M $1,138M $224M Sales EBITDA Specialty Engineered Materials Color Additives and Inks $502M$3,143M (1) Transportation 10% Healthcare 7% 17 (1) Total company sales and adjusted EBITDA of $3,143M and $502M, respectively, include intercompany sales eliminations and corporate costs 2023 REVENUE | $2 .0 B ILL ION US & Canada 34% EMEA 37% Asia 21% Latin America 8% END MARKET REGION 18 Packaging 34% Consumer 21% Healthcare 8% Industrial 15% Transportation 9% Building & Construction 10% Telecommunications 1% Energy 2% COLOR, ADDITIVES & INKS 2023 REVENUE | $1 .1 B ILL ION US & Canada 52% EMEA 35% Asia 13% 19 Packaging 5% Consumer 16% Healthcare 6%Industrial 16% Transportation 12% Telecommunications 9% Energy 10% Defense 18% Building & Construction 8% END MARKET REGION SPECIALTY ENGINEERED MATERIALS Packaging 32% Consumer 26% Healthcare 9% Industrial 13% Building & Construction 6% Telecommunications 2% Energy 2% Defense 1% Asia (18% of sales) Transportation 9% 2023 AVIENT REGIONAL SALES Packaging 25% Consumer 13% Healthcare 5% Industrial 18% Building & Construction 9% Energy 5% Defense 8% EMEA (36% of sales)Transportation 13% Packaging 13% Consumer 22% Healthcare 10% Industrial 16% Building & Construction 12% Energy 6% Defense 8% US & Canada (41% of sales) Transportation 9% Packaging 59% Consumer 22% Healthcare 2% Industrial 8% Building & Construction 4% LATAM (5% of sales) Transportation 5% Telecommunications 4% Telecommunications 4% 20 BY END MARKET Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except for per share data) Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability of results.
Three Months Ended June 30, 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 June 30, 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 Three Months Ended June 30, 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
https://www.avient.com/sites/default/files/2020-08/oncolor-rc-environmental-black-product-bulletin.pdf
OnColor™ RC Environmental Black Color Concentrate OnColor™ RC Environmental Black color concentrate is derived from end-of-life tires, making it sustainable alternative to concentrates using virgin carbon black.
The use of OnColor RC Environmental Black helps reduce environmental impact compared to color concentrates formulated with traditional carbon black.
https://www.avient.com/sites/default/files/2021-07/colormatrix-lcx-for-ebm-product-bulletin.pdf
PRODUCT BULLETIN ColorMatrix™ Liquid Dispersion for Extrusion Blow Molding Avient’s ColorMatrix™ LCX liquid color products are the latest advancement in technology to deliver stable pigment dispersions for the extrusion blow molding (EBM) process.
ColorMatrix LCX dispersions are designed to minimize and eliminate screw slip, streaking and specking, all while generating cost-to-color savings through processing efficiencies that include: • Handling efficiency – bulk distribution, individual feed stations • Inventory reduction – less inventory and required floor space • Process efficiency – improved color change times KEY CHARACTERISTICS • Highly concentrated pigment dispersions specifically for EBM processing • Provides dimensional stability by utilizing more resin instead of fillers • Reduces costs through handling and processing efficiencies • Customization available for design and product handling • Can be formulated in combination with a wide selection of additive technologies to meet performance needs MARKETS AND APPLICATIONS ColorMatrix LCX Liquid Dispersions for EBM processing are well suited for the following: • Monolayer applications • LDR less than 3% • Large volume whites and blacks • Tints 1.844.4AVIENT www.avient.com Copyright © 2021, Avient Corporation.
https://www.avient.com/sites/default/files/2023-11/Cesa Clean Product Bulletin.pdf
Cesa™ Clean masterbatch additives are formulated to effectively clean process tooling and machinery during material or color changeovers.
Cesa™ Clean Additives WHEN TO USE CESA CLEAN As a best practice, Cesa Clean adds value when used for: • Color changeovers • Material and formulation changes • Shutdown or startup • Machine maintenance WHY USE CESA CLEAN Some of the ways you can benefit from consistently using Cesa Clean: • Improve production uptime with faster color changeovers • Reduce wasted melt puddle material • Reduce resin use during purging • Non-abrasive and safe to use on precision equipment PRODUCT BULLETIN Cesa Clean solutions are available for use in a variety of processing conditions and operating temperatures.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Goldman%2520Sachs%2520Basic%2520Materials%2520Conference%2520-%2520May%25202016.pdf
PolyOne Corporation Page 4 PolyOne Commodity to Specialty Transformation • Volume driven, commodity producer • Heavily tied to cyclical end markets • Performance largely dependent on non- controlling joint ventures 2000-2005 2006 - 2009 2010 – 2015 2016 and beyond • Steve Newlin appointed, Chairman, President and CEO • New leadership team appointed • Implementation of four pillar strategy • Focus on value based selling, investment in commercial resources and innovation to drive transformation • Substantial EPS growth from $0.13 to all-time high of $1.96 • Shift to faster growing, high margin, less cyclical end markets • Key acquisitions propel current and future growth, as well as margin expansion • Specialty mix expands to 65% of Operating Income – strongest mix of earnings in history • Deliver consistent double digit annual EPS growth • Maintain >35% vitality index • Pursue strategic acquisitions that expand specialty offerings and geographic breadth • Invest and grow current and next generation talent PolyOne Corporation Page 5 Confirmation of Our Strategy The World’s Premier Provider of Specialized Polymer Materials, Services and Solutions Specialization Globalization Operational Excellence Commercial Excellence Associates PolyOne Corporation Page 6 26 Consecutive Quarters of EPS Growth PolyOne Corporation Page 7 2015 Revenues: $3.4 Billion End Markets 2015 Revenues: $3.4 Billion PolyOne At A Glance $0.12 $0.27 $0.21 $0.13 $0.68 $0.82 $1.00 $1.31 $1.80 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Adjusted EPS United States 66% Europe 13% Canada 7% Asia 7% Latin America 7% Appliances 4% Building & Construction 12% Consumer 10%Electrical & Electronics 5% Healthcare 11% Industrial 14% Packaging 13% Textiles 2% Transportation 20% Wire & Cable 9% $1.96 Distribution 29% PP&S 20% CAI 23% SEM 15%DSS 13% PolyOne Corporation Page 8 Old PolyOne *Operating Income excludes corporate charges and special items 2% 43% 65% 0% 20% 40% 60% 80% 100% 2005 2010 2015 2020 % o f O pe ra tin g In co m e* JV's Performance Products & Solutions Distribution Specialty 80%+ Specialty OI $5M $87M $229M Mix Shift Highlights Specialty Transformation Transformation 2020 Platinum Vision Platinum Vision PolyOne Corporation Page 9 Color and Engineered Materials at the Heart of Specialty Transformation OPERATING MARGIN 1.7% 4.6% 5.1% 5.5% 7.2% 8.1% 9.7% 12.2% 14.7% 16.7% 17.0% 20%+ 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q'16 2020 Platinum Vision COLOR, ADDITIVES AND INKS 1.1% 1.3% 3.4% 5.1% 9.6% 8.0% 8.6% 9.3% 12.1% 14.7% 16.6% 20%+ 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q'16 2020 Platinum Vision SPECIALTY ENGINEERED MATERIALS PolyOne Corporation Page 10 2006 1Q 2016 2020 “Where we were” “Where we are” Platinum Vision 1) Operating Income % Specialty: Color, Additives & Inks 1.7% 17.0% 20%+ Specialty Engineered Materials 1.1% 16.6% 20%+ Designed Structures & Solutions N/A 2.5% (TTM) 8 – 10% Performance Products & Solutions 5.5% 11.9% 12 – 14% Distribution 2.6% 6.5% 6.5 – 7.5% 2) Specialty Platform % of Operating Income 6.0% 61% 80%+ 3) ROIC* 5.0% 12.0% 15% 4) Adjusted EPS Growth N/A 22% Double Digit Expansion Proof of Performance & 2020 Goals *ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period PolyOne Corporation Page 11 Therma-Tech™ & Sheet GEON™ Vinyl Polymer ColorantsTherma-Tech™ TPE’s & Film TPE + OnForce™ Gravi-Tech™ Page 11 Film Target End Markets… Healthcare PolyOne Corporation Page 12 TPE + OnForce (SEM) OnForce (SEM) Glasforms (SEM) TPE Vibration Dampening (SEM/GLS) TPE & Film (SEM + DSS) Glasforms (SEM) Polymer Colorants (CAI) Thermatech (SEM) Thermoplastic Elastomers (SEM) TPE + OnForce (SEM) OnForce (SEM) Thermoplastic Elastomers (SEM) Glasforms (SEM) Polymer Colorants (CAI) Sheet (DSS) Source: Outdoor Industry Association Target End Markets… Outdoor High Performance PolyOne Corporation Page 13 Sound & Vibration Management Fuel Handling Systems Interior & Exterior Trim Structural Braces & Brackets Interior Structural Components Lighting Air management Electronics & Cameras Fluid Handling Target End Markets… Automotive Underhood Components Roof Systems PolyOne Corporation Page 14 Target End Markets… Packaging PreservaPak™ OnColor™ Smart Batch™ VersaFlex™ TPE Cap Liner ColorMatrix™ Amosorb™ Oxygen Scavenger ColorMatrix™ Ultimate™ UV Light Barrier OnCap™ Laser Marking Additives PolyOne Corporation Page 15 Innovation Drives Earnings Growth *Specialty Platform revenue from products introduced in last five years $20 $53 2006 2015 Research & Development Spending ($ millions) Specialty Platform Vitality Index Progression* 14% 34% 2006 2015 CAI & SEM Gross Margin 12% 43% 2006 2015 Target ≥ 35% Innovation Pipeline Potential PolyOne Corporation Page 16 2,883 2,414 2006 2015 Volume (lbs in millions) -16% $103 $192 2006 2015 Commercial, R&D and Marketing Spending ($M) +86% $303 $721 2006 2015 Adjusted Gross Profit ($M) +138% Ours is Not a Cost Cutting Story PolyOne Corporation Page 17 Design and Service as a Differentiator Right Material & Color Desired Product Design Appropriate Manufacturing Process Delivering Concept to Commercialization Connecting the Dots with iQ Design Labs and InVisiO Color Design PolyOne Corporation Page 18 Customer First Through World-Class Service Strengthening relationships through: Providing LSS services to small/medium sized customers Providing training in Customer Centric Selling Skills with customers World’s Best Business Process Excellence Program in 2012* World’s Best Start-up program for Lean Six Sigma Deployment in 2009* 81% 93% 2006 2015 16.2% 9.7% 2006 2015 On-Time Delivery Working Capital % of Sales 52% of associates trained in LSS Five consecutive years – CFO Magazine Best Working Capital Management in the chemical industry Commitment to Operational Excellence PolyOne Corporation Page 19 60% 100% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2008 1Q 2016 Pension Funding** As of March 31, 2016 Debt Maturities & Pension Funding Net Debt / Adjusted EBITDA*= 2.5x ** includes US-qualified pension plans only*TTM 3/31/2016 $550 $600 $200 $300 $400 $500 $600 $700 $800 2022 2023 Debt Maturities As of March 31, 2016 ($ millions) Coupon Rate: 3.750% 5.250% PolyOne Corporation Page 20 Free Cash Flow and Strong Balance Sheet Fund Investment / Shareholder Return Expanding our sales, marketing, and technical capabilities Investing in operational and LSS initiatives ~75% of capital expenditures fund growth initiatives Organic Growth Acquisitions Share Repurchases Dividends $0.16 $0.20 $0.32 $0.40 $0.48 $0.10 $0.20 $0.30 $0.40 $0.50 2011 2012 2013 2014 2015 2016 Annual Dividend Targets that expand our: • Specialty offerings • End market presence • Geographic breadth Synergy opportunities Adjacent material solutions Repurchased 1.5 million shares in Q1 2016 Repurchased 17.3 million shares since early 2013 10.0 million shares are available for repurchase under the current authorization $0.24 PolyOne Corporation Page 21 The New PolyOne: A Specialty Growth Company Why Invest In PolyOne?
POL IR Presentation (Goldman Sachs Basic Materials Conference - 2016) ��PolyOne Investor Presentation�Goldman Sachs Basic Materials Conference�May 2016�� Forward-Looking Statements Use of Non-GAAP Measures PolyOne Commodity to Specialty Transformation Confirmation of Our Strategy 26 Consecutive Quarters of EPS Growth PolyOne�At A Glance Mix Shift Highlights Specialty Transformation Color and Engineered Materials at the�Heart of Specialty Transformation Proof of Performance & 2020 Goals Slide Number 11 Slide Number 12 Slide Number 13 Slide Number 14 Innovation Drives Earnings Growth Ours is Not a Cost Cutting Story Design and Service as a Differentiator Customer First Through World-Class Service Debt Maturities & Pension Funding Free Cash Flow and Strong Balance Sheet �Fund Investment / Shareholder Return Why Invest In PolyOne?
Appendix 1Q 2016 Financial Highlights At a Glance�Color, Additives and Inks At a Glance�Specialty Engineered Materials At a Glance�Designed Structures and Solutions At a Glance�Performance Products and Solutions At a Glance�Distribution Plastics: Key to Future Sustainable Development Application Examples Outdoor Applications Slide Number 32 Authentication Technology Metal Replacement Solutions Range Rover Evoque Interior Slide Number 36 High-Barrier Packaging Containers Aerospace Applications Investor Presentation - May 17, 2016 r7 Investor Presentation - May 17, 2016
https://www.avient.com/sites/default/files/resources/dB%2520June%2520Presentation%2520June%252012%25202013%2520%25282%2529.pdf
Platform operating income mix percentage 2005Y* 2006Y* 2007Y* 2008Y* 2009Y* 2010Y* 2011Y* Global Specialty Engineered Materials $ 0.4 $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9 Global Color, Additives and Inks 4.3 8.9 25.7 28.1 25.2 37.7 43.4 Specialty Platform $ 4.7 $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3 Performance Products and Solutions 75.7 64.2 65.8 31.3 33.1 54.0 62.4 Distribution 19.5 19.2 22.1 28.1 24.8 42.0 56.0 SunBelt Joint Venture 91.9 102.9 34.8 28.6 25.5 18.9 5.0 Corporate (51.5) 34.5 (73.3) (425.1) 7.9 (27.7) 20.3 Operating income (loss) GAAP $ 140.3 $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0 Less: Corporate operating expense (income) 51.5 (34.5) 73.3 425.1 (7.9) 27.7 (20.3) Operating income excluding Corporate $ 191.8 $ 199.1 $ 153.3 $ 133.7 $ 129.2 $ 202.3 $ 212.7 Specialty platform operating mix percentage 2% 6% 20% 34% 35% 43% 42% Platform operating income mix percentage 2012Y* 2012PF** Global Specialty Engineered Materials $ 47.0 $ 47.7 Global Color, Additives and Inks 66.8 81.6 Designed Structures & Solutions -- 20.9 Specialty Platform $ 113.8 $ 150.2 Performance Products and Solutions 74.9 37.4 Distribution 66.0 66.0 Corporate (87.6) ( 87.9) )Operating income GAAP $ 167.1 $ 165.7 Less: Corporate operating expense 87.6 87.9 Operating income excluding Corporate $ 254.7 $ 253.6 45% 60% * Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment. ** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes the Resin business assets.
Specialty platform operating mix percentage Platform sales and operating income (OI) 2006Y* 2007Y* 2008Y* 2009Y* 2010Y* 2011Y* Global Specialty Engineered Materials Sales $ 345.3 $ 384.4 $ 514.0 $ 402.9 $ 517.4 $ 575.1 Global Color, Additives and Inks Sales 531.8 560.5 554.3 459.8 527.4 544.6 Specialty Platform Sales $ 877.1 $ 944.9 $ 1,068.3 $ 862.7 $ 1,044.8 $ 1,119.7 Performance Products and Solutions Sales 1,166.2 1,086.8 1,001.4 667.7 776.3 865.4 PolyOne Distribution Sales 732.8 744.3 796.7 625.1 911.9 996.5 Corporate and Eliminations (153.7) (133.3) (127.7) (94.8) (111.1) (118.1) Total Sales $ 2,622.4 $ 2,642.7 $ 2,738.7 $ 2,060.7 $ 2,621.9 $ 2,863.5 Global Specialty Engineered Materials OI $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9 Global Color, Additives and Inks OI 8.9 25.7 28.1 25.2 37.7 43.4 Specialty Platform OI $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3 Performance Products and Solutions OI 64.2 65.8 31.3 33.1 54.0 62.4 PolyOne Distribution OI 19.2 22.1 28.1 24.8 42.0 56.0 Sunbelt Joint Venture OI 102.9 34.8 28.6 25.5 18.9 5.0 Corporate and eliminations (4.6) (25.5) (28.9) (40.8) (32.5) (26.4) Special items in OI 39.1 (47.8) (396.2) 48.7 4.8 46.7 Operating income (loss) GAAP $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0 Sunbelt equity income (107.0) (40.8) (32.5) (29.7) (23.1) (5.7) Special items in OI (39.1) 47.8 396.2 (48.7) (4.8) (46.7) Operating income adjusted $ 87.5 $ 87.0 $ 72.3 $ 58.7 $ 146.7 $ 180.6 Global Specialty Engineered Materials - OI % of sales 1.1% 1.3% 3.4% 5.1% 9.6% 8.0% Global Color, Additives and Inks - OI % of sales 1.7% 4.6% 5.1% 5.5% 7.1% 8.0% Specialty platform OI - % of sales 1.5% 3.2% 4.3% 5.3% 8.4% 8.0% PP&S operating OI - % of sales 5.5% 6.1% 3.1% 5.0% 7.0% 7.2% Distribution OI - % of sales 2.6% 3.0% 3.5% 4.0% 4.6% 5.6% PolyOne OI adjusted - % of sales 3.3% 3.3% 2.6% 2.8% 5.6% 6.3% * Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment. ** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes the Resin business assets.
Average Debt Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average PolyOne Debt $ 706.4 $ 705.8 $ 705.2 $ 706.9 $ 1055.5 $ 776.0 Average Equity Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average PolyOne shareholders’ equity $ 611.3 $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 669.2 Platform sales and operating income (OI) 2012Y* 2012PF** Q1 2013 Global Specialty Engineered Materials Sales $ 543.6 $ 773.0 $ 159.8 Global Color, Additives and Inks Sales 703.5 828.5 205.3 Designed Structures & Solutions -- 850.6 41.5 Specialty Platform Sales $ 1,247.1 2,452.1 406.6 Performance Products and Solutions Sales 837.0 696.1 159.7 PolyOne Distribution Sales 1,030.3 1,030.3 268.0 Corporate and Eliminations (121.8) (121.6) (33.2) Total Sales $ 2,992.6 $ 4,056.9 $ 801.1 Global Specialty Engineered Materials OI $ 47.0 $ 47.7 $ 16.2 Global Color, Additives and Inks OI 66.8 81.6 24.1 Designed Structures & Solutions -- 20.9 1.9 Specialty Platform OI $ 113.8 $ 150.2 $ 42.2 Performance Products and Solutions OI 74.9 37.4 13.0 PolyOne Distribution OI 66.0 66.0 16.2 Corporate and eliminations (33.7) (40.0) (14.3) Special items in OI (53.9) (53.9) (16.6) Operating income - GAAP $ 167.1 $ 159.7 $ 40.5 Special items in OI 53.9 53.9 16.6 Operating income adjusted $ 221.0 $ 213.6 $ 57.1 Global Specialty Engineered Materials - OI % of sales 8.6% 6.1% 10.1% Global Color, Additives and Inks - OI % of sales 9.5% 9.8% 11.7% Designed Structures & Solutions -- 2.5% 4.6% Specialty platform OI % of sales 9.1% 6.1% 10.4% PP&S operating OI % of sales 9.0% 5.4% 8.1% Distribution OI % of sales 6.4% 6.4% 6.0% PolyOne OI adjusted, % of sales 7.4% 5.3% 7.1% PolyOne Investor Presentation�Deutsche Bank 2013 Global Industrials and Basic Materials Conference ��June 12, 2013� Forward – Looking Statements Use of Non GAAP Measures Strategy and Execution Drive Results Four Pillar Strategy 2013 Portfolio Transformation Highlights PolyOne�At A Glance Mix Shift Highlights Specialty Transformation Proof of Performance & 2015 Goals Innovation Drives Earnings Growth Positioned for Strong Growth First Quarter Financial Highlights Debt Maturities & Liquidity Summary – 3/31/13 Use of Cash Why Invest In PolyOne?