https://www.avient.com/sites/default/files/2023-01/Mevopur Healthcare Functional Additives Chemical Foaming Agents Application Bulletin.pdf
These CFAs are
the result of Avient’s combined experiences in
the development of chemical foaming agents
for automotive plastic components and polymer
solutions for healthcare applications.
KEY CHARACTERISTICS
• Manufactured under ISO 13485 procedures
• Documented change control beyond
CAS number, reducing risk of change
• Can be used on common injection molding
and extrusion machines—set-up support by
a technical assistance team
• Available for use in polyolefins, styrenics
and copolymers
• Can be combined with colorants
REGULATORY SUPPORT
• Raw materials tested to:
- ISO 10993-1
- USP and (incl. class VI)
- European Pharmacopeia, monograph 3.1.3/
3.1.5 (polyolefin packaging materials)
- USP (polyethylene)
- Elemental impurities as per ICH Q3D
• Registered Drug Master File (Type III) and/or
Device Master File
• Food contact according to USA FDA and
EU norms
APPLICATION BULLETIN
Sustainability Spotlight
Healthcare use limitations apply—see below.
https://www.avient.com/sites/default/files/2024-11/Edwards Ballistic Panel Case Study.pdf
GlasArmor panels made with fiber-reinforced polymer
(FRP) composites provide excellent ballistic stopping
power for the MPS while meeting the requirement of
being lightweight and portable.
Avient collaborated with Edwards to develop ballistic-
resistant panels that were not only compatible with the
required hardware but also met color requirements for
better visual cover once deployed.
https://www.avient.com/sites/default/files/resources/Novel_Thermoplastic_elastomers_for_overmolding_applications.pdf
The amorphous content of the polymer, which varies from polymer to
polymer, provides the anchor for the interactions occurring at the interface between the rigid plastic substrate
and the TPE.
In addition,
various rigid thermoplastics can have reinforcements and/or additives, such as fillers and fibers or color
masterbatches, which not only can alter the resultant properties of the substrate, but also the surface chemistry.
The chemistry variations of a few of
these polymers are illustrated in Figure 4.
https://www.avient.com/knowledge-base/article/overmolding-mold-design?rtype[]=1164
To assure that a gate will break at a specific location, the land length should be short to create a high stress concentration.
Concentricity
https://www.avient.com/sites/default/files/2023-05/AVNT Q1 2023 Earnings Presentation.pdf
& Canada
40%
38%
17%
Q1 2023 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
18%
23%
Building and
6%Telecommunications
END MARKET REVENUE
(1) Total company sales and adjusted EBITDA of $846M and $134M, respectively, include intercompany sales eliminations and corporate costs
$537M $91M
$310M $64M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$134M$846M
(1)
9
Q1 2023 SALES BY REGION
Yo Y C H A N G E ( E X C L .
National Defense
budget of $842 billion submitted to Congress
in Q1 2023
• European NATO members annual defense
spend expected to increase by up to 20%
Dyneema® is the world’s strongest fiber™
One of the highest strength to weight
ratios of any material on Earth
Direct relationships with industry leading
armor manufacturers
Resistant to most chemicals, UV, and
moisture to handle any environment
Avient Confidential 13
DEFENSE
Source: US Department of Defense, defense.gov, NATO13
Source:
TRANSPORTATION
• Increased EPA regulations requiring
improved fuel efficiency, enabled in part by
lower-weight vehicles
• Automakers preparing for 2/3 of U.S.
vehicles to be 100% electric by 2032
Lightweight panels that establish both
strength and stiffness resulting in
decreased energy usage, lower emissions
Long-lasting Color applications to resist
UV exposure, temperature fluctuations
and exceed the stylistic requirements of
global automakers
14
$130
$530
$0.60
$2.40
2023 GUIDANCE
15
Sales Adjusted EBITDA
$845
$3,400
Adjusted EPS
(in millions) (in millions)
CASH FLOW / LEVERAGE
16
• Maintaining free cash flow
and leverage guidance from
February earnings call
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability,
primarily in Europe
($ millions) 2023E
Cash Flow from Operating Activities 350$
Less:
Run-Rate CapEx (110)
CapEx for IT System Upgrade (25)
CapEx for Restructuring (15)
Total CapEx (150)
Free Cash Flow 200$
Adjusted EBITDA 530$
Net Debt / Adjusted EBITDA 2.9x
LONG-TERM REVENUE GROWTH DRIVERS
Growth Drivers
Long-Term
Growth Rate
Sustainable Solutions 8–12%
Healthcare 8–10%
Composites 10%
Asia / LATAM 5%
Other (GDP growth) 2–3%
Avient 6.5%
17
Sustainable
Solutions
32%
Asia / LATAM
Composites
Other (GDP
Growth)
39%
• Virtual presentation to be held
September 20, 2023
• The company will be
conducting an investor-focused
presentation around our
sustainability solutions portfolio
Avient Confidential 18
SUSTAINABILITY
INVESTOR DAY
18
$340M
$405M
$455M
$550M
$790M
$915M
2016 2017 2018 2019 2020PF** 2021 2022PF***
SUSTAINABILITY FOR A BETTER TOMORROW
Revenue From Sustainable Solutions* 2016-2022
($ in millions)
Organic Future Growth Revenue Assumptions From Sustainable Solutions: 8 - 12%
19
*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
***2022 is Pro Forma for the acquisition of Avient Protective Materials and the divestiture of Distribution
$1,175M
Lightweighting
Eco-Conscious
Recycle Solutions
VOC Reduction
Sustainable Infrastructure
Human Health & Safety
Reduced Energy Use
Bio-polymers
SUSTAINABILITY NEEDS BY MARKET
B&C
• Eco-Conscious
• Carbon footprint
• Resource
conservation
• Carbon footprint
• Bio based content
• Eco-Conscious
Automotive
• Light weighting
• Recycled Content
• VOC reduction
• Recycle Solutions
• Carbon Footprint
Packaging
• Recycle Solutions
• Food waste
reduction
Common Theme: CO2 Emission Goals
Increasing Single-Use Plastic Regulation
20
INVESTING
IN INNOVATION
S U S T A I N A B I L I T Y P O R T F O L I O
21
AP P EN D IX
24
RAW MATERIAL 2022 ANNUAL PURCHASES
Performance
Additives
Pigments
12%
TiO2
Dyestuffs
2%
Polyethylene
Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
33%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
• Cost inflation
decelerating,
particularly for
hydrocarbon-based
raw materials
2022 pro forma results for the acquisition of Avient Protective Materials
SEGMENT DATA
U.S. & Canada
40%
37%
18%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
24%
Building and
END MARKET REVENUE
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
9%
26
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
C O L O R , A D D I T I V E S & I N K S
2022 REVENUE | $2 .4 B ILL ION
34%
38%
END MARKET REGION
27
34%
21%
Building &
1% Energy
2%
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
2022 PRO FORMA REVENUE | $1 .3 B ILL ION
END MARKET
52%
35%
REGION
28
19%
8%Industrial
9% Defense
Building &
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
9%
2022 PROFORMA AVIENT REGIONAL SALES
BY END MARKET
27%
14%
17%
Building &
(37% of sales)Transportation
24%
12%
Building &
US &
Canada
(40% of sales)
56%
23%
Building &
1%
LATAM
(5% of sales)
3%
29
PEER COMPARISONS
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,400 and estimated run-rate CAPEX of $110M.
31
4 4
5 5 5
6
7
9
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Three Months Ended
March 31, 2023
Three Months Ended
March 31, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 20.8 $ 0.23 $ 64.4 $ 0.70
Special items, after tax 22.3 0.24 6.4 0.07
Amortization expense, after-tax 15.1 0.16 $ 10.8 $ 0.12
Adjusted net income / EPS $ 58.2 $ 0.63 $ 81.6 $ 0.89
March 31,
Reconciliation of Pro Forma Sales 2023 2022
Sales $ 845.7 $ 892.2
APM pro forma adjustments — 94.9
Pro forma sales $ 845.7 $ 987.1
1
Three Months Ended
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022
Net income from continuing operations – GAAP $ 21.3 $ 64.7
Income tax expense 7.7 20.0
Interest expense, net 28.8 16.9
Depreciation and amortization 50.5 37.6
EBITDA from continuing operations $ 108.3 $ 139.2
Special items, before tax 27.3 6.7
Depreciation and amortization included in special items (1.8) (2.1)
Adjusted EBITDA $ 133.8 $ 143.8
Pro forma APM adjustments — 32.0
Pro forma adjusted EBITDA $ 133.8 $ 175.8
Pro forma adjusted EBITDA as a % of sales 15.8 % 17.8 %
2023 2022
Sales:
Color, Additives and Inks $ 537.0 $ 649.5
Specialty Engineered Materials 309.7 243.1
Corporate (1.0) (0.4)
Sales $ 845.7 $ 892.2
Operating income:
Color, Additives and Inks $ 65.6 $ 94.5
Specialty Engineered Materials 43.1 38.3
Corporate (51.6) (30.6)
Operating income $ 57.1 $ 102.2
Depreciation & amortization:
Color, Additives and Inks $ 25.8 $ 26.0
Specialty Engineered Materials 21.2 7.8
Corporate 3.5 3.8
Depreciation & Amortization $ 50.5 $ 37.6
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 91.4 $ 120.5
Specialty Engineered Materials 64.3 46.1
Corporate (48.1) (26.8)
Other income (expense), net 0.7 (0.6)
EBITDA $ 108.3 $ 139.2
AVNT Q1 2023 Earnings Presentation v2
AVNT Q1 2023 Earnings Presentation
5.2 221pm IR Deck - AVNT-2023.03.31 (002).pdf
https://www.avient.com/investor-center/news/avient-hold-first-quarter-2025-conference-call
Our expanding portfolio of offerings includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world's strongest fiber™.
https://www.avient.com/company
Our expanding portfolio includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world’s strongest fiber™.
https://www.avient.com/investor-center/news/avient-hold-second-quarter-2025-conference-call
Our expanding portfolio of offerings includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world's strongest fiber™.
https://www.avient.com/knowledge-base/article/packaging-jumps-shelf?ind[]=6599
In addition, manufacturers of beauty and personal care packaging often require materials that are clear or brightly colored to attract consumer attention.
https://www.avient.com/investor-center/news/polyone-announces-fourth-quarter-and-full-year-2019-results
Color, Additives and Inks
Color, Additives and Inks
Color, Additives and Inks