https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
Avient acquired the Clariant Color business on July 1, 2020 (the “Acquisition Date”).
Avient Specialty
Other
Free Cash Flow Conversion (1)
2022E (%)
Being asset light helps us to generate
strong free cash flow that is in line
with other specialty formulators.
Our free cash flow supports
shareholder value creation through
investing in R&D for organic growth,
completing bolt-on acquisitions, and
returning cash to shareholders via our
dividend program and opportunistic
share repurchases.
44 1.
https://www.avient.com/sites/default/files/2024-10/2024 AVNT Q3 Webcast Slides w appendix and non-GAAP.pdf
Microsoft PowerPoint - AVNT Q3 2024 Earnings Presentation_10.29_12PM
AVIENT CORPORATION
T H I R D Q U A R T E R 2 0 2 4 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)
O C T O B E R 3 1 , 2 0 2 4
DISCLAIMER
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.
FX +8.5%
FX -0.4%
Total Avient +8.1%
Note: Regional Sales Percentages exclude impact of foreign exchange
COLOR, ADDITIVES & INKS SEGMENT
$487
$522
$89
$97
(in millions) (in millions)
7
+ 7%
(+8% excluding FX)
+ 9%
(+11% excluding FX)
18.3%
+40 bps *18.7%
*
* Adjusted EBITDA Margin %
• Sales growth driven by winning
new product specifications in
consumer & packaging, strong
underlying demand in healthcare
and improving demand in building
& construction
• Favorable mix and raw material
deflation contributed to EBITDA
margin expansion
SPECIALTY ENGINEERED MATERIALS SEGMENT
$268
$295
$51
$57
(in millions) (in millions)
8
• Sales growth driven by restocking
in healthcare & consumer end
markets and strong underlying
demand for composite
applications used in building &
construction, energy and defense
end markets
• Favorable mix contributed to
EBITDA margin expansion
+ 10%
(+10% excluding FX)
+ 12%
(+13% excluding FX)
19.0%
+40 bps *19.4%
*
* Adjusted EBITDA Margin %
2024 G U IDA N CE
FY 2024 GUIDANCE
Previous (Aug 6) Current
Adjusted EPS $2.55 to $2.70 $2.63 to $2.67
Adjusted EBITDA $515 to $540 million $525 to $530 million
Interest Expense $105 million $104 million
Adjusted Effective Tax Rate 23% to 25% 23% to 25%
Capital Expenditures &
Investment in S/4 Hana
~$140 million ~$140 million
10
11
• Investor Day to be held December 4, 2024 at
the NYSE, beginning at 10AM
• The focus will be to do a deep dive on the
Company’s strategy
• Registration and microsite will be available in
early November
2024 AVIENT INVESTOR DAY
AP P EN D IX
18
Performance
Additives
15%
Pigments
TiO2
Dyestuffs
Polyethylene
10%Nylon
Polypropylene
Styrenic Block
Copolymer
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%
36%
2023 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
19%
23%Industrial
Building and
7%
END MARKET REVENUE
$2,007M $358M
$1,138M $224M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$502M$3,143M
(1)
7%
20
(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
34%
37%
21%
END MARKET REGION
21
34%
21%
15%
Building &
1% Energy
COLOR, ADDITIVES & INKS
2023 REVENUE | $1 .1 B ILL ION
52%
35%
22
6%Industrial
12%
10% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
26%
Building &
6%
2% Defense
1%
(18% of sales)
2023 AVIENT REGIONAL SALES
25%
Building &
(36% of sales)Transportation
22%
Building &
12%
6%
US &
Canada
(41% of sales)
59%
22%
Building &
LATAM
(5% of sales)
23
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.
A reconciliation of these measures to their most directly comparable GAAP measures is provided in the tables below.
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 38.2 $ 0.41 $ 5.1 $ 0.06
Special items, after-tax 6.6 0.07 32.0 0.35
Amortization expense, after-tax 15.0 0.16 15.2 0.16
Adjusted net income / EPS $ 59.8 $ 0.65 $ 52.3 $ 0.57
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Three Months Ended
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 38.7 $ 5.1
Income tax expense (benefit) 11.3 (0.1)
Interest expense, net 26.9 30.3
Depreciation & amortization 45.1 46.4
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales 15.9 % 16.3 %
1
2024 2023
Sales:
Color, Additives and Inks $ 521.5 $ 486.5
Specialty Engineered Materials 294.6 267.9
Corporate (0.9) (0.7)
Sales $ 815.2 $ 753.7
Operating income:
Color, Additives and Inks $ 75.5 $ 64.5
Specialty Engineered Materials 36.4 30.3
Corporate (34.7) (60.5)
Operating income $ 77.2 $ 34.3
Depreciation & amortization:
Color, Additives and Inks $ 21.9 $ 24.6
Specialty Engineered Materials 20.7 20.5
Corporate 2.5 1.3
Depreciation & amortization $ 45.1 $ 46.4
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 97.4 $ 89.1
Specialty Engineered Materials 57.1 50.8
Corporate (32.2) (59.2)
Other (expense) income, net (0.3) 1.0
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 18.7 % 18.3 %
Specialty Engineered Materials 19.4 % 19.0 %
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 Q3 Earnings Webcast Slides w_Appendix and Non-GAAP.pdf
2024 AVNT Q3 Webcast Slides w non-GAAP.pdf
Q3 Avient Webcast Slides with Non-GAAP Recs.pdf
Appendix Slides for webcast.pdf
IR Deck - AVNT-2024.09.30 - 10.30.24 3PM (002).pdf
Attachment
https://www.avient.com/sites/default/files/2021-07/avnt-q2-2021-earnings-release.pdf
Eastern Time on July 30, 2021.
3
*Pro Forma
The company acquired the Clariant Masterbatch business (“CMB”) on July 1, 2020 (the
“Acquisition Date”).
To participate in the audio-only portion of the call, dial 1-844-835-
7433 (domestic) or 1-914-495-8589 (international) and provide conference ID number 2587092.
To access, dial 1-855-859-2056 (domestic) or 1-404-537-3406
(international) and provide conference ID number 2587092.
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Webcast Details
The webcast can be viewed live at avient.com/investors, or by clicking here: https://edge.media-
server.com/mmc/p/yrq7mgm9.To participate in the audio-only portion of the call, dial 1-844-835-
7433 (domestic) or 1-914-495-8589 (international) and provide conference ID number 7899765.
To access, dial 1-855-859-2056 (domestic) or 1-404-537-3406
(international) and provide conference ID number 7899765.
Three Months Ended September 30,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
$ 61.1 $ 19.9 $ 81.0 $ 5.3 $ 50.0 $ 55.3
Income tax expense - GAAP (8.5) — (8.5) (2.7) — (2.7)
Income tax impact of special items (Attachment 3) — (4.6) (4.6) — (12.7) (12.7)
Tax adjustments (Attachment 3) — (3.6) (3.6) — 3.0 3.0
Income tax (expense) benefit $ (8.5) $ (8.2) $ (16.7) $ (2.7) $ (9.7) $ (12.4)
Effective Tax Rate(1) 14.1 % 20.8 % 51.9 % 22.7 %
(1) Rates may not recalculate from figures presented herein due to rounding
14
Nine Months Ended September 30,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
$ 253.5 $ 36.5 $ 290.0 $ 81.6 $ 62.0 $ 143.6
Income tax expense - GAAP (51.8) — (51.8) (22.5) — (22.5)
Income tax impact of special items (Attachment 3) — (8.9) (8.9) — (15.4) (15.4)
Tax adjustments (Attachment 3) — (1.6) (1.6) — 4.9 4.9
Income tax (expense) benefit $ (51.8) $ (10.5) $ (62.3) $ (22.5) $ (10.5) $ (33.0)
Effective Tax Rate(1) 20.5 % 21.5 % 27.6 % 23.0 %
(1) Rates may not recalculate from figures presented herein due to rounding
The following pro forma adjustments are referenced by management to provide comparable business performance by
incorporating the Clariant Masterbatch business in periods prior to the acquisition date (July 1, 2020).
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”).
EPS (ex Amort) 3.96$ 0.13$ 4.09$ (0.58)$ 3.51$
Pro Forma Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.6x 3.4x 2.8x
Forecast Dyneema Forecast +
Dyneema
Sale of
Distribution
Pro Forma
2022
TWO-YEAR LEVERAGE MODEL
20
3.5x
2.7x
1.6x
2.8x
2.4x
2.0x
2019PF 2020PF 2022E 2022PF 2023E 2024E
Dyneema® AcquisitionClariant Color Acquisition
(1) Pro forma for the acquisition of the Clariant Color business
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of
Distribution, including repayment of senior notes due 2023 and Term Loan
(1) (1) (2)
OUR SPECIALTY JOURNEY CONTINUES
21
• Dyneema® brings leading technology and brand with
the World’s Strongest Fiber™, deep history of
application development and strong
management team focused on specialty
applications
• Dyneema® transaction is aligned with our previously
stated acquisition goal of expanding our composites
and fiber capabilities
• Similar to our other technology expansion
acquisitions, Dyneema® allows us to leverage our
invest-to-grow strategy
• The possible sale of our Distribution business also
presents potential benefits with respect to leverage
and EBITDA margins
46%
66%
86%
100%
0%
40%
60%
80%
100%
2005 2010 2015 2021 2022 PF
%
o
f A
dj
us
te
d
EB
IT
D
A(1
)
JVs Distribution Performance Products & Solutions Specialty
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution
(2)
Building &
43%
14%
Telecom.
2006 2022 Pro forma
Building &
Telecom.
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Distribution business
DYN E E MA ACQ U I S I T I O N
32
15x stronger than steel
Reduces weight by 30% vs. other solutions
Well-maintained global asset base poised to serve growing demand
• Purchase price of $1.48B represents 11.4x multiple of
2022 EBITDA
• Acquisition will expand Avient’s composites and fiber
portfolio with Dyneema®, the World’s Strongest Fiber™
• $415M sales and 30%+ EBITDA margins; Immediately
accretive to pro forma 2022 EPS, adding $0.35
• 1,300 patents globally, ~50% of sales patent protected
• 1,000+ employees across global production network and
dedicated technology centers
• Composites platform will increase from $261M to $680M in
revenue and from $49M to $180M in EBITDA Indicates Dyneema® location
$175M
(42%)
$65M
(16%)
$175M
(42%)
2022E Sales By Region ($M)
(1) $0.35 EPS excludes intangible amortization
(2) Based on 2022 expected results
(1) (2)
(2)
FIT WITH FOUR PILLAR STRATEGY
33
Specialization
• Innovation-led organization with
tremendous intellectual property value in
trademarks, patents and “know-how”
• Deep history of application development
and premium, leading brand with the
World’s Strongest FiberTM
Globalization
• Global customer base with an
established presence across all major
geographic regions
• Global technology centers complement
existing Composites applications and
expertise
Operational
Excellence
• Best-in-class safety performance
• Well-run and maintained asset base fit to
serve future growth
• Highly effective and reliable supply chain
with emphasis on optimizing service to
customers
Commercial
Excellence
• Deep customer relationships extend
across the value chain and drive ability
to grow
• Offer a full suite of services with an active
role in design, development and
commercialization
People
Experienced and
talented associates
with a passion for
safety, specialization
and winning
DYNEEMA® OVERVIEW
K E Y I N D U S T R I E S
PERSONAL PROTECTION
Military • Law Enforcement • First
Responders Body Armor • Helmets •
Vehicle Protection
$215M
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
$130M
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
$70M
34 Figures reflect 2022 expected sales
MIFOverview Competition Valuechain &
Go-to-market Strategy Innovation Financials
TECHNOLOGY
35
1,200 1,300
2,500
Avient Dyneema Combined
Patents
• True specialty business – the World’s Strongest Fiber™
• Deep history of application development with customers,
strongest in the industry
• The only UHMwPE (ultra-high molecular weight polyethylene)
fiber producer that is backward integrated
o Provides innovation advantage through control of all steps of the process
• Complementary with our existing reinforced film expertise
(PolyStrand) and engineered fiber presences (Fiber-Line)
WINNING PROPERTIES
Ultra high strength vs. weight Highly flexible
Floats on water Chemically inert; no smell/taste and non-toxic
High resistance to UV radiation Self-lubricating, with low friction
One-of-a-kind technology
®
FORMULATION PROCESS
36
• Like Avient, Dyneema® offers similar
core competencies around formulation
and material science
• Technology that combines polymers and
fibers to provide specialized, high
performing solutions for customers
• Design capabilities ensure that
applications are highly customized for
the specified end use
DYNEEMA® IN THE VALUE CHAIN
37
UHMwPE
Fiber / Tapes
Military Personnel,
Law Enforcement
Heavy Marine,
Offshore Wind Energy
and Mooring,
Aquaculture
Outdoor,
Footwear, Apparel,
Inflatables
• Material Science
• Formulation
• Service
INTERMEDIATE MANUFACTURING
(CUSTOMERS) OEM / APPLICATION
DEMAND TRENDS
38
• Military spending and near-term demand for higher performing personal protection
products (like Dyneema®) expected to increase
o European NATO members annual defense spend expected to increase by up to 20%(1)
o Japan aiming to almost double defense spending over the next 5 years(2)
o Accelerated launch of next generation technology in North America
• Policy-driven demand for sustainable energy; growth in floating offshore wind
farms which require advanced, durable technology
o Offshore wind expected to grow at a CAGR of 32% with the level of annual installations
quadrupling over the next five years(3)
• Continued investment in aquaculture as a sustainable food source(4)
• Strong demand in outdoor high performance space across niche consumer
applications aligns with 10% growth assumption for Avient’s Composites portfolio
Sources:
(1) “Funding NATO”, NATO.int (April 1, 2022)
(2) “Japan Ruling Party Calls for Defense Spending Boost to 2% of GDP”, WSJ (April 21, 2022)
(3) “Global Wind Report 2021”, Global Wind Energy Council
(4) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries
39
A L I G N M E N T W I T H
S U S T A I N A B I L I T Y G O A L S
PRODUCTS
AVIENT’S EXISTING COMPOSITES PORTFOLIO
D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G
M A N U F A C T U R E R S A N D O E M S
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
40
AVIENT’S COMPOSITES PORTFOLIO
SALES AND EBITDA
41
$74 $84
$216 $212
$261
$5 $10
$32
$41
$49
$180
0
50
100
150
200
$-
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
$550
$600
$650
$700
$750
2017 2018 2019 2020 2021 2022E
$680
• Dyneema® acquisition will further
improve Composites EBITDA margins
to 26%
• Dyneema® will complement our
existing portfolio with deep formulation
expertise, innovative culture and
global commercial presence
• Composites will continue to be a key
growth driver to deliver future revenue
growth in excess of GDP
(1) Pro forma for the acquisition of Dyneema®
SEGMENT DATA
U.S. & Canada
50%
Latin America
2021 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
19%
Building and
END MARKET REVENUE
(1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs
$2,402M
$409M
$919M
$164M
$1,631M
$94M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$581M$4,819M
43
34%
Building &
1% Telecommunications
C O L O R , A D D I T I V E S & I N K S
2021 REVENUE | $2 .4 BILLION
32%
40%
Latin America
END MARKET REGION
44
S P E C I A LT Y E N G I N E E R E D M AT E R I A L S
27%
Building &
2021 REVENUE | $919 MILLION
END MARKET
55%
REGION
45
D I S T R I BU T I O N
26%
Building and
80%
3%
Latin
America
END MARKET REGION
K EY SU PPL IER S
2021 REVENUE | $1 .6 BILLION
46
TOTA L C O M PA N Y R E G I O N A L S A L E S
BY END MARKET
30%
26%Healthcare
14%
Building &
2% Energy
(16% of sales)
32%
Building &
(25% of sales)
47
19%
Building &
US &
Canada
(50% of sales)
38%
33%
Building &
LATAM
(9% of sales)
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/resources/September%2520Investor%2520Presentation.pdf
Investor Day
POLYONE
I N V E S T O R
P R E S E N T A T I O N
S E P T E M B E R 2 0 1 9
FORWARD LOOKING STATEMENTS
PolyOne Corporation 2
In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995.
Leverage
PolyOne’s
global reach
Phase 1 Phase 2
Phase 3
18-20%
operating
margins
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 25
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
243
340
$36
$96
20%
Established Acquisitions
(> 7 years)
+ 40% + 165% + 900 bps
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 26
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
138
181
251
$23 $25
$70
7% 8%
18-20%
Recent Acquisitions
PolyOne Corporation 27
Average
Company Size
# of
Possibilities
Rationale
250
• Local to regional footprint
• Niche technology focus
• Concentrated customer base
$50M–$200M 150
• Regional to global footprint
• 1–3 specialty technologies
• Diversified customer base
>$200M 30
• Global footprint with local service
• Diverse specialty technologies
• Highly diversified customer &
market portfolio
S T R O N G P I P E L I N E
D R I V E N B Y F R A G M E N T E D M A R K E T
$0
$150
$300
$450
$600
$750
$900
2011 2012 2013 2014 2015 2016 2017 2018
$890M
R E T U R N I N G C A S H T O S H A R E H O L D E R S
O V E R $ 1 . 2 B I L L I O N S I N C E 2 0 1 1
PolyOne Corporation
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.54
$0.70
$0.78
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
3-Year Dividend Plan
Cumulative Share Repurchases
(In millions)
Increasing Annual Dividend
28
6.3%
14.1%
16-17%
2009 2018 Updated Expectations
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 29
PolyOne Corporation 30
W H Y I N V E S T I N P O L Y O N E ?
Adjusted EPS attributable to PolyOne common shareholders is calculated as follows:
2009* 2010* 2011* 2012* 2013* 2014* 2015* 2016 2017 2018
Net income from continuing operations attributable to
PolyOne common shareholders $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6 $ 166.4 $ 173.5 $ 161.1
Joint venture equity earnings, after tax (19.0) (14.7) (3.7) — — — — — — —
Special items, before tax(1) (48.7) 24.2 (48.1) 55.1 46.3 164.2 87.6 23.8 32.9 59.5
Special items, tax adjustments(1) (27.2) (96.7) (24.7) (18.9) (13.7) (73.7) (58.7) (15.9) (24.8) (25.3)
Adjusted net income from continuing operations
attributable to PolyOne common shareholders $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5 $ 174.3 $ 181.6 $ 195.3
Diluted shares 93.4 96.0 94.3 89.8 96.5 93.5 88.7 84.6 82.1 80.4
Adjusted EPS attributable to PolyOne common
shareholders $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96 $ 2.06 $ 2.21 $ 2.43
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principle, discontinued operations or the related resegmentation
https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
To access Avient’s news library online, please visit www.avient.com/news
# # #
Investor Relations Contact:
Giuseppe (Joe) Di Salvo
Vice President, Treasurer and Investor Relations
Avient Corporation
+1 440-930-1921
giuseppe.disalvo@avient.com
Media Contact:
Kyle G.
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
http://www.avient.com/news
7
Attachment 1
Avient Corporation
Summary of Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022 2021 2022 2021
Sales $ 823.3 $ 818.0 $ 2,606.5 $ 2,508.5
Operating Income 40.6 52.8 242.9 229.6
Net (loss) income from continuing operations attributable to Avient
shareholders (27.4) 33.7 99.8 143.3
Basic (loss) earnings per share from continuing operations attributable to
Avient shareholders $ (0.30) $ 0.37 $ 1.09 $ 1.57
Diluted (loss) earnings per share from continuing operations attributable
to Avient shareholders $ (0.30) $ 0.37 $ 1.08 $ 1.56
Senior management uses comparisons of adjusted net income attributable to Avient shareholders and diluted adjusted earnings
per share (EPS) attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability
of results.
Three Months Ended September 30,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
(Loss) income from continuing operations before income
taxes $ (29.0) $ 82.0 $ 53.0 $ 35.4 $ 19.9 $ 55.3
Income tax expense - GAAP 1.2 — 1.2 (2.0) — (2.0)
Income tax impact of special items (Attachment 3) — (20.5) (20.5) — (4.6) (4.6)
Tax adjustments (Attachment 3) — 6.8 6.8 — (3.6) (3.6)
Income tax (expense) benefit $ 1.2 $ (13.7) $ (12.5) $ (2.0) $ (8.2) $ (10.2)
Effective Tax Rate(1) 4.1 % 23.7 % 5.7 % 18.4 %
(1) Rates may not recalculate from figures presented herein due to rounding
14
Nine Months Ended September 30,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from continuing operations before income taxes $141.2 $ 89.6 $ 230.8 $176.1 $ 36.5 $ 212.6
Income tax expense - GAAP (41.5) — (41.5) (32.1) — (32.1)
Income tax impact of special items (Attachment 3) — (22.5) (22.5) — (8.9) (8.9)
Tax adjustments (Attachment 3) — 10.8 10.8 — (1.6) (1.6)
Income tax (expense) benefit $ (41.5) $ (11.7) $ (53.2) $ (32.1) $ (10.5) $ (42.6)
Effective Tax Rate(1) 29.4 % 23.1 % 18.2 % 20.0 %
(1) Rates may not recalculate from figures presented herein due to rounding
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2022 2021
Net (loss) income from continuing operations – GAAP $ (27.8) $ 33.4 $ 99.7 $ 144.0
Income tax (benefit) expense (1.2) 2.0 41.5 32.1
Interest expense 37.3 19.0 70.4 57.8
Depreciation and amortization from continuing operations 39.8 36.6 113.7 107.1
EBITDA $ 48.1 $ 91.0 $ 325.3 $ 341.0
Special items, before tax 82.0 19.9 89.6 36.5
Interest expense included in special items (10.0) — (10.0) —
Depreciation and amortization included in special items (0.8) (0.9) (4.0) (0.1)
Adjusted EBITDA $ 119.3 $ 110.0 $ 400.9 $ 377.4
NEWS RELEASE
Attachment 1
https://www.avient.com/sites/default/files/2021-04/existencia-y-represnentacion-avient-colombia-sas.pdf
NIIF Plenas
UBICACIÓN
Dirección del domicilio principal: Aut Medellin Km 2.5 Via Parcelas
1 Km
Municipio: Cota (Cundinamarca)
Correo electrónico: andres.perez@clariant.com
Teléfono comercial 1: 8773300
Teléfono comercial 2: No reportó.
Dirección para notificación judicial: Aut Medellin Km 2.5 Via
Parcelas
1 Km
Municipio: Cota (Cundinamarca)
Correo electrónico de notificación: esperanza.laserna@avient.com
Teléfono para notificación 1: 8773300
Teléfono para notificación 2: No reportó.
OBJETO SOCIAL
Objeto Social: El objeto social de la sociedad será: 1.
https://www.avient.com/sites/default/files/2024-12/AVNT Investor Day 2024 Presentation.pdf
Color, Additives and Inks – strategic drivers
Digital
for operational excellence
Leadership, talent
1.
Specialty Engineered Materials – strategic drivers
Digital
for operational excellence
Leadership, talent
1.
Share gains and geographic penetration
Build new
10% PLUS CAGR
1.
https://www.avient.com/sites/default/files/2021-08/avient-cdp-climate-change-questionnaire-2021.pdf
Identifier
Risk 1
Where in the value chain does the risk driver occur?
This was multiplied by Avient's total scope 1 emissions to identify Lego's
contribution.
This was multiplied by Avient's total scope 1 emissions to identify HP's
contribution.