https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Press Release%5B43%5D.pdf
I’m pleased with how well we have executed through the first half of the year despite persistent
demand weakness and customer inventory destocking,” said Mr.
We are looking forward to sharing how and where our material science is helping
customers achieve their sustainability goals and the megatrends that are underpinning the future
growth of our sustainable solutions portfolio.”
https://www.avient.com/investors
https://edge.media-server.com/mmc/p/d4zy5fep
https://www.avient.com/investors
https://register.vevent.com/register/BI2f6c5ad2bc1b4150b7f39a5b024d27cf
https://www.avient.com/investors/events-presentations
https://www.avient.com/news-events
4
About Avient
Avient Corporation (NYSE: AVNT) 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/2024-08/AVNT Second Quarter Earnings Press Release.pdf
As we look to the second half, we expect growth momentum to continue with our teams
focused on providing innovative materials and processing solutions to solve our customers'
challenges to enable a sustainable world.
Sustainability is a responsibility we
have to all of our stakeholders, and it is a growth driver for our company as we enable our
customers to achieve their sustainability goals, ultimately creating value for our shareholders,"
explained Ms.
About Avient
Avient Corporation (NYSE: AVNT) provides specialized and sustainable materials solutions that
transform customer challenges into opportunities, bringing new products to life for a better
world.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for the United Arab Emirates.pdf
Seller may,
during any period of shortage due to any cause, prorate, and allocate its
supply of such materials among itself for its own consumption, its
subsidiaries, affiliated companies, its accepted orders, contract customers,
and its regular customers not then under contract in such a manner as may
be deemed fair and reasonable by Seller.
During periods when demand for Product
exceeds Seller’s capability to supply, whether due to a force majeure or
otherwise, Seller may distribute Product among itself for its own uses,
Buyer, and other customers, in such manner as Seller deems fair and
practicable.
Buyer shall disseminate such information so as to give warning
of possible hazards to persons whom Buyer can reasonably foresee may
receive exposure to such hazards, including, but not limited to, Buyer’s
employees, agents, contractors and customers.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Slovakia.pdf
Seller may,
during any period of shortage due to any cause, prorate,
and allocate its supply of such materials among itself for
its own consumption, its subsidiaries, affiliated companies,
its accepted orders, contract customers, and its regular
customers not then under contract in such a manner as may
be deemed fair and reasonable by Seller.
During periods when demand for
Product exceeds Seller’s capability to supply, whether due
to a force majeure or otherwise, Seller may distribute
Product among itself for its own uses, Buyer, and other
customers, in such manner as Seller deems fair and
practicable.
Buyer shall disseminate such information so as to
give warning of possible hazards to persons whom Buyer
can reasonably foresee may receive exposure to such
hazards, including, but not limited to, Buyer’s employees,
agents, contractors and customers.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Pakistan.pdf
Seller may, during any period of shortage due to any
cause, prorate, and allocate its supply of such materials among itself
for its own consumption, its subsidiaries, affiliated companies, its
accepted orders, contract customers, and its regular customers not
then under contract in such a manner as may be deemed fair and
reasonable by Seller.
During periods when demand for Product
exceeds Seller’s capability to supply, whether due to a force
majeure or otherwise, Seller may distribute Product among itself for
its own uses, Buyer, and other customers, in such manner as Seller
deems fair and practicable.
If required to
enable any competent authority or agency to verify compliance with
Trade Control Laws, Buyer shall, if so requested by Seller, promptly
provide Seller with all information pertaining to the particular end
customer, the particular destination and the particular intended use
of the Products and any other relevant information with regard to
existing Trade Control Laws.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Argentina %28English and Spanish Translation%29.pdf
Seller may, during any period of shortage due to
any cause, prorate, and allocate its supply of such materials
among itself for its own consumption, its subsidiaries,
affiliated companies, its accepted orders, contract customers,
and its regular customers not then under contract in such a
manner as may be deemed fair and reasonable by Seller.
During periods when demand for Product
exceeds Seller’s capability to supply, whether due to a force
majeure or otherwise, Seller may distribute Product among
itself for its own uses, Buyer, and other customers, in such
manner as Seller deems fair and practicable.
Buyer shall disseminate such information so as
to give warning of possible hazards to persons whom Buyer
can reasonably foresee may receive exposure to such hazards,
including, but not limited to, Buyer’s employees, agents,
contractors and customers.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Spain.pdf
Seller may, during any period of
shortage due to any cause, prorate, and allocate its supply
of such materials among itself for its own consumption, its
subsidiaries, affiliated companies, its accepted orders,
contract customers, and its regular customers not then
under contract in such a manner as may be deemed fair and
reasonable by Seller.
During periods when demand for
Product exceeds Seller’s capability to supply, whether due
to a force majeure or otherwise, Seller may distribute
Product among itself for its own uses, Buyer, and other
customers, in such manner as Seller deems fair and
practicable.
Buyer shall disseminate such information so as to
give warning of possible hazards to persons whom Buyer
can reasonably foresee may receive exposure to such
hazards, including, but not limited to, Buyer’s employees,
agents, contractors and customers.
https://www.avient.com/sites/default/files/resources/dB%2520June%2520Presentation%2520June%252012%25202013%2520%25282%2529.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The time required to consummate the divestiture of our resin assets and the satisfaction or waiver of conditions in the sale agreement;
Any material adverse changes in the business supporting the resin assets being sold;
The ability to obtain required regulatory or other third-party approvals and consents and otherwise consummate the proposed divestiture
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies; our
ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The amount and timing of repurchases, if any, of PolyOne common shares and our ability to pay regular quarterly cash dividends and the amounts and
timing of any future dividends;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Investor Presentation_website w Non-GAAP.pdf
For the same reasons, Avient is unable to address the probable significance of the unavailable information.
2
3
AVIENT OVERVIEW
OUR VISION: Creating specialized and sustainable materials solutions that transform customer challenges into opportunities, bringing new products to life for a better world
2023 Financial ResultsCompany Overview Revenue By:
9,300
Employees
102
Manufacturing
Sites
20,000+
Customers
Key Highlights
Premier formulator of specialized
and sustainable materials solutions
Asset-light business model, with
flexibility to adapt to customer needs
Best-in-class technology and service
(140+ PhDs / 2,500+ patents)
History of transformation through
successful M&A while consistently
returning cash to shareholders
Poised for continued future growth in
excess of GDP
$3.14B
Revenue
$2.36
Adjusted EPS
$502M
Adjusted EBITDA
16.0%
Adjusted EBITDA Margins
$186M
Adjusted Free Cash Flow
Over $1B in share
buybacks since 2011
Raised dividend for
13 consecutive years,
a 15% CAGR since
2011
U.S. &
Canada
EMEA
Asia
Latin America
64%
36%
Specialty
Engineered
Materials
Color
Additives
and Inks
41%
36%
18%
5%
7%
7%
23%
19%
9%
16%
10%
5% 4%
Defense
Healthcare
Packaging
Consumer
Building &
Construction
Industrial
Transportation
Energy Telecom
Geography
Segment
Industry
4
C R EAT I N G A WO R L D- C L A SS
S US TA I NA B L E ORG A N I ZAT I ON
1. 6% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
https://www.avient.com/sites/default/files/resources/POL%2520KeyBanc%2520IR%2520Presentation%2520w%2520non-GAAP%252009%252010%25202013.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated savings and
operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation
Use of Non GAAP Measures
Page 3
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
PolyOne S&P 500
Strategy and Execution Drive Results
Page 4
All time closing high of
$29.48
August 1, 2013
• 15 consecutive quarters of
double digit EPS growth
• 42% CAGR adjusted EPS
expansion 2006-2012
• YTD stock price has
increased 42% versus 20%
growth in the S&P
• 275% increase in market cap:
$0.7b $2.6b since 2006
The World’s Premier Provider of Specialized
Polymer Materials, Services & Solutions
Four Pillar Strategy
Page 5
PP&S
15%
Specialty
60%
Distribution
25%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
2.50
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
2006 2007 2008 2009 2010* 2011* 2012* 2015
Target
A
dj
us
te
d
Ea
rn
in
gs
P
er
S
ha
re
Appliance
6%
Building &
Construction
13%
Wire & Cable
9%
Electrical &
Electronics
4%
Consumer
9%
Packaging
18%
Industrial
10%
Misc.
5%
HealthCare
9%
Transportation
16%
Textiles
1%
United
States
70%
Europe
14%
Canada
8%
Asia
5%
Latin
America
3%
2012 Revenues: $4.0 Billion*
End Markets*
2012 Revenues: $4.0 Billion*
EPS
Page 6
* Pro Forma includes FY2012 results for Spartech (11/03/12 YE) and Glasforms & excludes discontinued operations
PolyOne
At A Glance
* Restated to exclude discontinued operations
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
**Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes discontinued operations
2%
34%
43% 45%
60%
65-
75%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2012 2012 PF** 2015
%
o
f O
pe
ra
ti
ng
In
co
m
e*
JV's PP&S Distribution Specialty
Specialty OI $5M $46M $87M $114M $150M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 7
2006 H1 2013 2015
Where we were Where we are
Organic Consolidated
Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 12.7% 12.6% 12 – 16%
Global Specialty Engineered
Materials 1.1% 10.9% 9.2% 12 – 16%
Designed Structures & Solutions — — 4.4% 8 – 10%
Performance Products &
Solutions 5.4% 8.1% 8.2% 9 – 12%
Distribution 2.6% 6.1% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 62% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 26%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 8
*Percentage of Specialty Platform revenue from products introduced in last five years
19.5%
46.5%
2006 Q2 2013
$20.3
$44.7
2006 TTM
Q2'13
14.3%
31.1%
2006 Q2 2013
Research & Development
Spending
Specialty Platform
Vitality Index Progression*
Innovation Drives Earnings Growth
($ millions)
Specialty Platform
Gross Margin %
Page 9
We are Experts in Polymer Science and Formulation
Polymer Science
Formulation
Chemistry
Processing
Inputs
Base Resins
Additives
Modifiers
Colorants
Specialized
Polymer Materials,
Services, and Solutions
Expertise
Satisfied
Consumers
PolyOne Customer
Innovative
Products & Services
Marketplace Demands
Performance Requirements
Value Drivers
Page 10
Positioned for Strong Growth
2015 Target
Rev: $5B
Adj.