https://www.avient.com/sites/default/files/2025-02/Siding_Cladding Hydrocerol Case Study Snapshot.pdf
SIDING & CLADDING
MANUFACTURER
P R O F I L E E X T R U S I O N
• Achieve consistent distribution and uniform cell structure
• Avoid adverse chemical reactions caused by material
incompatibility with PVC formulations
• Maintain impact resistance and durability
• Attain thermally-stable chemical foaming agent (CFA) and
gas decomposition temperatures to avoid manufacturing
downtime
• Ensure the integrity of color, finish, and aesthetics
• Validated performance and compatibility
during formulation and testing to confirm
material compatibility and consistency
• Established processing parameters for real-
time precision in temperature, pressure, and
extrusion speed
• Optimized CFA and process to balance weight
reduction and retain mechanical properties
and aesthetics
Hydrocerol Chemical Foaming Agents
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2024-12/2024 Avient Executive Bios_Giuseppe Di Salvo.pdf
He joined Avient in 2011 as Assistant Controller and later served as Director, Finance for
the company’s Global Color, Additives & Inks business segment.
https://www.avient.com/sites/default/files/2024-12/2024 Avient Executive Bios_Kristen Gajewski.pdf
Gajewski joined Avient in July 2013 from AkzoNobel/PPG and has since taken on multiple
roles with increasing responsibility within the Human Resources function, including HR
Director for Avient’s Color, Additives & Inks business segment, and an international assignment
with responsibility for the EMEA and India regions.
https://www.avient.com/sites/default/files/2024-12/2024 Avient Executive Bios_Holger Kronimus.pdf
Kronimus served as International Controller and Finance
Director as well as other positions of financial, commercial and plant management in Avient’s
Color, Additives & Ink business unit.
https://www.avient.com/sites/default/files/2024-10/ISO9001证书 %28英文版%29 -2024.pdf
462307-2021-AQ-RGC-RvA
Initial certification date:
23 June 2021
Valid:
24 June 2024 – 23 June 2027
This is to certify that the management system of
Avient China Company Limited
No. 188, Quanzhou Road, Zhongxin Suchu High-Tech Industrial Development Park, Chuzhou,
Anhui, China
has been found to conform to the Quality Management System standard:
GB/T 19001-2016 / ISO 9001:2015
This certificate is valid for the following scope:
Design and Manufacture of Color Concentrates, Filling Concentrates and Additive
Concentrates
http://www.dnv.com/assurance
https://www.avient.com/sites/default/files/resources/Tangerang_ISO22000.pdf
Avient Colorants Indonesia
Gatot Subroto Km. 4, Jl.
https://www.avient.com/sites/default/files/2025-05/Versaflex TPE-snorkel mouthpiece- case study snapshot.pdf
SPORTS BRAND
S N O R K E L M O U T H P I E C E
• Replace PVC with alternative materials such as TPE or
silicone
• Skin contact safety and UV resistance
• Soft texture with a non-sticky feel
• Translucent color to help children use it properly and
safely
• Customized a soft (Shore A) TPE solution that
passed strict tests, including thermal
deformation (80°C for 2 hours), UV resistance,
and assembly resistance
• Providing a 40% more cost-effective system
than silicone due to the high production
efficiencies of TPEs
• Provided cross-regional cooperation and prompt
response to help customers achieve fast
commercialization in both Europe and China
Versaflex Thermoplastic Elastomers
UV RESISTANT + TRANSLUCENT
Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/2021-02/avient-ir-presentation-goldman-sachs-and-morgan-stanley.pdf
Design times can be less than
three days for colorants.
SEGMENT HIGHLIGHTS
U.S. & Canada
50%
26%
16%
Latin America
2020 SEGMENT, END MARKET AND GEOGRAPHY
30
GEOGRAPHY REVENUESEGMENT FINANCIALS
21%Industrial
Building &
Electrical &
END MARKET REVENUE
All data reflects 2020 Pro forma for acquisition of the Clariant Masterbatch business.
(1) The total company sales and EBITDA of $3,783M and $457M, respectively, include intercompany sales eliminations and corporate costs
$2,043M
$331M
$709M
$124M
$1,110M
$70M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$457M$3,783M
35%
14%
Building &
Electrical &
C O L O R , A D D I T I V E S & I N K S
2020 PF REVENUE | $2 .0 BILLION
31%
40%
22%
Latin America
END MARKET REGION
31
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
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
24%
Wire & Cable(1)
24%
Electrical &
13%
Transporation
11%
Building &
2020 REVENUE | $709 MILLION
END MARKET
58%
19%
REGION
32
(1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling
DI S TR IBU T I ON
2020 REVENUE | $1 .1 B ILL ION
29%
25%
20%
14%
Electrical &
Building &
1%
82%
Latin
America
END MARKET REGION
K E Y S U P P L I ER S
33
AMERICAS EMEA ASIA
26%
19%
13%
16%
Building &
Electrical &
34%
16%Healthcare
17%
Building &
Electrical &
32%
27%
12%
Building &
Electrical &
9%
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
TOTA L C O M PA N Y R E G I O N A L S A L E S
BY END MARKET
(58% of sales) (26% of sales) (16% of sales)
34
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.
1
Reconciliation of EBITDA by Segment
Year Ended
2020 2019 2020 2019
Sales:
Color, Additives and Inks $ 525.8 $ 226.7 $ 1,502.9 $ 1,003.8
Specialty Engineered Materials 190.6 177.5 708.8 745.7
Distribution 305.1 272.4 1,110.3 1,192.2
Corporate and eliminations (24.5) (18.0) (79.9) (79.0)
Sales $ 997.0 $ 658.6 $ 3,242.1 $ 2,862.7
Operating income:
Color, Additives and Inks $ 57.5 $ 27.2 $ 180.8 $ 147.4
Specialty Engineered Materials 30.4 18.8 94.4 83.7
Distribution 18.0 17.0 69.5 75.4
Corporate and eliminations (40.9) (42.5) (155.4) (149.7)
Operating Income $ 65.0 $ 20.5 $ 189.3 $ 156.8
Items Below Operating Income in Corporate:
Other income, net $ 11.7 $ 10.7 $ 24.3 $ 12.1
Depreciation & amortization:
Color, Additives and Inks $ 27.3 $ 10.7 $ 75.1 $ 42.7
Specialty Engineered Materials 7.4 7.0 30.0 29.5
Distribution 0.3 0.1 0.7 0.5
Corporate and eliminations 2.8 1.0 9.3 5.4
Depreciation & Amortization $ 37.8 $ 18.8 $ 115.1 $ 78.1
EBITDA:
Color, Additives and Inks $ 84.8 $ 37.9 $ 255.9 $ 190.1
Specialty Engineered Materials 37.8 25.8 124.4 113.2
Distribution 18.3 17.1 70.2 75.9
Corporate and eliminations (26.4) (30.8) (121.8) (132.2)
EBITDA $ 114.5 $ 50.0 $ 328.7 $ 247.0
EBITDA as a % of sales:
Color, Additives and Inks 16.1 % 16.7 % 17.0 % 18.9 %
Specialty Engineered Materials 19.8 % 14.5 % 17.6 % 15.2 %
Distribution 6.0 % 6.3 % 6.3 % 6.4 %
Corporate and eliminations nm nm nm nm
Total Company 11.5 % 7.6 % 10.1 % 8.6 %
nm - not meaningful
Three Months Ended
December 31,
Year Ended
December 31,
Reconciliation to Adjusted EBITDA: 2020 2019 2020 2019
Net income from continuing operations – GAAP $ 74.7 $ 6.4 $ 133.8 $ 75.7
Income tax expense (17.3) 12.9 5.2 33.7
Interest expense 19.3 11.9 74.6 59.5
Depreciation and amortization from continuing operations 37.8 18.8 115.1 78.1
EBITDA $ 114.5 $ 50.0 $ 328.7 $ 247.0
Special items, before tax 4.2 15.0 66.2 61.7
Interest expense included in special items — — (10.1) —
Accelerated depreciation included in special items (0.7) — (3.2) —
Adjusted EBITDA $ 118.0 $ 65.0 $ 381.6 $ 308.7
Three Months Ended
Reconciliation of Adjusted Earnings per Share: Avient
Special
Adjusted
Sales $ 997.0 $ — $ 997.0
Operating income $ 65.0 $ 14.6 $ 79.6
Interest expense, net (19.3) — (19.3)
Other income, net 11.7 (10.4) 1.3
Income taxes 17.3 (30.9) (13.6)
Net income from continuing operations attributable to Avient shareholders $ 74.2 $ (26.7) $ 47.5
Weighted average diluted shares 92.1
Adjusted EPS - excluding special items $ 0.52
Reconciliation of Adjusted EBITDA from continuing operations:
Operating income and other income, net $ 76.7 $ 4.2 $ 80.9
Depreciation and amortization 37.8 (0.7) 37.1
EBITDA from continuing operations $ 114.5 $ 3.5 $ 118.0
EBITDA as a % of sales 11.8 %
3
Three Months Ended
Reconciliation of Pro Forma Adjusted
Special
Adjusted
Clariant MB
Pro Forma
Pro Forma
Adjusted
Sales $ 658.6 $ — $ 658.6 $ 263.5 $ 922.1
Operating income $ 20.5 $ 24.6 $ 45.1 $ 13.2 $ 58.3
Interest expense, net (11.9) — (11.9) (11.1) (23.0)
Other income, net 10.7 (9.6) 1.1 — 1.1
Income taxes (12.9) 4.9 (8.0) (0.5) (8.5)
Net income from continuing operations
attributable to Avient shareholders $ 6.4 $ 19.9 $ 26.3 $ 1.6 $ 27.9
Weighted average diluted shares 77.5
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 92.8
Pro forma adjusted EPS $ 0.30
Reconciliation of Pro Forma Adjusted
Operating income and other income, net $ 31.2 $ 15.0 $ 46.2 $ 13.2 $ 59.4
Depreciation and amortization 18.8 — 18.8 15.1 33.9
EBITDA from continuing operations $ 50.0 $ 15.0 $ 65.0 $ 28.3 $ 93.3
EBITDA as a % of sales 10.1 %
Reconciliation of Pro Forma Adjusted
Special
Adjusted
Clariant MB
Pro Forma
Pro Forma
Adjusted
Sales $ 3,242.1 $ — $ 3,242.1 $ 540.4 $ 3,782.5
Operating income $ 189.3 $ 73.7 $ 263.0 $ 45.0 $ 308.0
Interest expense, net (74.6) 10.1 (64.5) (18.1) (82.6)
Other income, net 24.3 (17.6) 6.7 — 6.7
Income taxes (5.2) (41.4) (46.6) (6.2) (52.8)
Net income attributable to noncontrolling
interests (1.8) — (1.8) — (1.8)
Net income from continuing operations
attributable to Avient shareholders $ 132.0 $ 24.8 $ 156.8 $ 20.7 $ 177.5
Weighted average diluted shares 90.6
Impact to diluted shares from January 2020 equity offering 1.5
Pro forma weighted average diluted shares 92.1
Pro forma adjusted EPS $ 1.93
Reconciliation of Pro Forma Adjusted
Operating income and other income, net $ 213.6 $ — $ 56.1 $ 269.7 $ 45.0 $ — $ 314.7
Depreciation and amortization 115.1 (3.2) 111.9 30.1 142.0
EBITDA from continuing operations $ 328.7 $ 52.9 $ 381.6 $ 75.1 $ 456.7
EBITDA as a % of sales 12.1 %
4
Reconciliation of Pro Forma Adjusted
Special
Adjusted
Clariant MB
Pro Forma
Pro Forma
Adjusted
Sales $ 2,862.7 $ — $ 2,862.7 $ 1,118.6 $ 3,981.3
Operating income $ 156.8 $ 71.7 $ 228.5 $ 72.9 $ 301.4
Interest expense, net (59.5) — (59.5) (33.4) (92.9)
Other income, net 12.1 (10.0) 2.1 — 2.1
Income taxes (33.7) (5.9) (39.6) (9.1) (48.7)
Net income attributable to noncontrolling
interests (0.2) — (0.2) — (0.2)
Net income from continuing operations
attributable to Avient shareholders $ 75.5 $ 55.8 $ 131.3 $ 30.4 $ 161.7
Weighted average diluted shares 77.7
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 93.0
Pro forma adjusted EPS $ 1.74
Reconciliation of Pro Forma Adjusted
Operating income and other income, net $ 168.9 $ — $ 61.7 $ 230.6 $ 72.9 $ — $ 303.5
Depreciation and amortization 78.1 — 78.1 60.3 138.4
EBITDA from continuing operations $ 247.0 $ 61.7 $ 308.7 $ 133.2 $ 441.9
EBITDA as a % of sales 11.1 %
March 31, 2020
Reconciliation of Pro Forma Adjusted
Special
Adjusted
Clariant MB
Pro Forma
Pro Forma
Adjusted
Sales $ 711.5 $ — $ 711.5 $ 279.4 $ 990.9
Operating income 52.8 9.7 62.5 23.0 85.5
Interest expense, net (9.4) — (9.4) (12.8) (22.2)
Other income, net 1.6 (0.1) 1.5 — 1.5
Income taxes (11.9) (1.0) (12.9) (2.4) (15.3)
Net income from continuing operations
attributable to Avient shareholders $ 33.1 $ 8.6 $ 41.7 $ 7.8 $ 49.5
Weighted average diluted shares 86.7
Impact to diluted shares from January 2020 equity offering 6.1
Pro forma weighted average diluted shares 92.8
Pro forma adjusted EPS $ 0.53
5
Three Months Ended
December 31, 2019
Year Ended
Reconciliation of pro
forma sales, operating
income, and EBITDA: CAI
Clariant MB
Pro Forma
Pro Forma
CAI CAI
Clariant MB
Pro Forma
Pro Forma
Sales $ 226.7 $ 263.5 $ 490.2 $ 1,003.8 $ 1,118.6 $ 2,122.4
Operating income $ 27.2 $ 13.2 $ 40.4 $ 147.4 $ 72.9 $ 220.3
EBITDA $ 37.9 $ 28.3 $ 66.2 $ 190.1 $ 133.2 $ 323.3
EBITDA as a % of sales 13.5 % 15.2 %
Year Ended
December 31, 2020
Reconciliation of pro
forma sales, operating
income, and EBITDA: CAI
Clariant MB
Pro Forma
Pro Forma
Sales $ 1,502.9 $ 540.4 $ 2,043.3
Operating income $ 180.8 $ 45.0 $ 225.8
EBITDA $ 255.9 $ 75.1 $ 331.0
EBITDA as a % of sales 16.2 %
Free cash flow, defined as cash provided by operating activities excluding items associated with acquisitions and divestitures,
less capital expenditures, is considered a non-GAAP financial measure.
https://www.avient.com/sites/default/files/resources/PolyOne%25202014%2520Annual%2520Report.pdf
BUSINESS
Business Overview
specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and
enhancing additives, liquid colorants and fluoropolymers and silicone colorants.
Color and additive solutions include an innovative
array of colors, special effects and performance-enhancing and eco-friendly solutions.
Our Business
specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and
enhancing additives, liquid colorants, and fluoropolymer and silicone colorants.
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
Garratt Senior Vice President, President, Color, Additives and Inks, EMEA
Lisa K.
Garratt Senior Vice President, President, Color Additives and Inks, EMEA
Lisa K.
Clariant Color Integration Objectives.