https://www.avient.com/sites/default/files/2023-08/AVNT August IR Presentation w NonGAAP Recs%5B40%5D.pdf
&
Canada
64%
36%
Specialty
Engineered
Materials
Color
Additives
and Inks
40%
37%
18%
9% 4% 4%
Building &
Energy Telecom
4
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
1. 6.5% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
28
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
9.5
13.8
12.7 12.6
11.3
8.7
18.6
16.5
10.1 10.0 9.7 9.5 9.4
8.7
01
1)
01
8)
02
3)
Avient Specialty
Other Specialty /
SEGMENT DATA
U.S. & Canada
40%
37%
18%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
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%
30
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
2022 REVENUE | $2 .4 B ILL ION
34%
38%
END MARKET REGION
31
34%
21%
Building &
1% Energy
2%
COLOR, ADDITIVES & INKS
2022 PRO FORMA REVENUE | $1 .3 B ILL ION
52%
35%
32
19%
8%Industrial
16%
9% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
9%
2022 PROFORMA AVIENT REGIONAL SALES
27%
14%
17%
Building &
(37% of sales)Transportation
12%
Building &
US &
Canada
(40% of sales)
7%
56%
23%
7%
Building &
1%
LATAM
(5% of sales)
3%
33
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.
In addition, operating
income before the effect of special items is a component of Avient’s annual incentive plans and is used in debt covenant
computations.
https://www.avient.com/sites/default/files/2023-08/OnColor Lux Colorants for Glow-In-The-Dark Effects Product Bulletin.pdf
Custom solutions can be
developed to match specific requirements and part
design, and can include other colors or functional
additives.
https://www.avient.com/sites/default/files/2021-07/colormatrix-lcx-for-ebm-product-bulletin.pdf
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/resources/PolyOne%2520Proxy%2520Statement%25202016.pdf
In addition, Mr.
Wulfsohn is a valuable addition to
our Board.
In addition, pursuant to
the terms of her applicable grant agreements, Ms.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for France.pdf
Any additional, different or other terms and/or conditions contained in any purchase order,
document, website or other communication by or from Buyer are hereby objected to and rejected by Seller.
In addition to the interest for late payment
and without prejudice to any other damages that Seller may claim, a fixed indemnity for collection costs of forty (40) euros
shall be added.
No modification or addition to
the contract shall occur by the acknowledgment or acceptance by Seller of a purchase order, acknowledgment, release or
other form submitted by Buyer containing additional or different terms or conditions.
22.
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Press Release.pdf
Three Months Ended
September 30,
Nine Months Ended
September 30,
2023 2022 2023 2022
Sales:
Color, Additives and Inks $ 486.5 $ 565.6 $ 1,548.0 $ 1,864.2
Specialty Engineered Materials 267.9 258.2 878.4 743.6
Corporate (0.7) (0.5) (2.6) (1.3)
Sales $ 753.7 $ 823.3 $ 2,423.8 $ 2,606.5
Gross margin:
Color, Additives and Inks $ 156.8 $ 161.3 $ 482.9 $ 546.8
Specialty Engineered Materials 78.3 66.9 263.7 201.3
Corporate (39.8) (32.8) (63.0) (37.4)
Gross margin $ 195.3 $ 195.4 $ 683.6 $ 710.7
Selling and administrative expense:
Color, Additives and Inks $ 92.3 $ 92.7 $ 284.8 $ 290.1
Specialty Engineered Materials 48.0 35.5 150.6 96.4
Corporate 20.7 26.6 94.5 81.3
Selling and administrative expense $ 161.0 $ 154.8 $ 529.9 $ 467.8
Operating income:
Color, Additives and Inks $ 64.5 $ 68.6 $ 198.1 $ 256.7
Specialty Engineered Materials 30.3 31.4 113.1 104.9
Corporate (60.5) (59.4) (157.5) (118.7)
Operating income $ 34.3 $ 40.6 $ 153.7 $ 242.9
Depreciation & amortization:
Color, Additives and Inks $ 24.6 $ 24.2 $ 76.1 $ 76.1
Specialty Engineered Materials 20.5 12.9 61.6 28.4
Corporate 1.3 2.7 6.8 9.2
Depreciation & Amortization $ 46.4 $ 39.8 $ 144.5 $ 113.7
Earnings before interest, taxes, depreciation and
amortization (EBITDA):
Color, Additives and Inks $ 89.1 $ 92.8 $ 274.2 $ 332.8
Specialty Engineered Materials 50.8 44.3 174.7 133.3
Corporate (59.2) (56.7) (150.7) (109.5)
Other income (expense), net 1.0 (32.3) 1.5 (31.3)
EBITDA including special items $ 81.7 $ 48.1 $ 299.7 $ 325.3
Special items in EBITDA 41.0 71.2 88.1 75.6
Total Company, EBITDA adjusted $ 122.7 $ 119.3 $ 387.8 $ 400.9
13
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.
In addition, operating income before the effect of special items is
a component of Avient's annual incentive plans and is used in debt covenant computations.
https://www.avient.com/sites/default/files/2023-11/AVNT November IR Presentation.pdf
&
Canada
64%
36%
Specialty
Engineered
Materials
Color
Additives
and Inks
40%
37%
18%
9% 4% 4%
Building &
Energy Telecom
Geography
Segment
Industry
4
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
1. 6% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
Avient 2011, 2018 and 2021 multiples reflect trailing 12 months EBITDA at December 31.
28
EV / 2023E EBITDA
6.5
8.5
11.0
8.9
12.0 11.9
10.9
9.9
8.2
16.3
13.8
11.9
9.6 9.5 9.5 9.2
7.7
11
21
O
ct
23
PM PP
FM
C C
Avient Historic Multiple
Avient Specialty
Other Specialty /
AP P E N DI X
30
Performance
Additives
16%
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
2022 pro forma results for the acquisition of Avient Protective Materials
RAW MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
40%
37%
18%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
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%
32
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
2022 REVENUE | $2 .4 BILLION
US & Canada
34%
38%
END MARKET REGION
33
34%
21%
Building &
1% Energy
2%
COLOR, ADDITIVES & INKS
2022 PRO FORMA REVENUE | $1 .3 BILLION
US & Canada
52%
35%
34
19%
8%Industrial
16%
9% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
9%
2022 PROFORMA AVIENT REGIONAL SALES
27%
14%
17%
Building &
(37% of sales)Transportation
12%
Building &
US &
Canada
(40% of sales)
7%
56%
23%
7%
Building &
1%
LATAM
(5% of sales)
3%
35
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.
In addition, operating
income before the effect of special items is a component of Avient’s annual incentive plans and is used in debt covenant
computations.
https://www.avient.com/sites/default/files/2022-05/ColorMatrix Amosorb Solo Technical Bulletin.pdf
Active and passive oxygen barriers are additives
that are broadly used in the PET bottle industry,
across the value chain; they guarantee the optimal
shelf life of packaged goods such as beer, juices,
RTD beverages, or condiments, to name a few.
The regrind combination study also showed how
retention of original standard amber tone could be
closely maintained with very minimal addition of
Fortis-Amber 1, even after a dilution with 50% vPET
of material coming from original packaging articles,
with or without the further addition of SolO2-2.
https://www.avient.com/sites/default/files/2024-07/Ballistic Resistant Composite Panels Product Selection _ Install Guide.pdf
These fiber-reinforced panels
offer ballistic resistant security with additional
performance advantages, including durability,
corrosion resistance, electrical non-conductivity,
low thermal conductivity, and reduced weight.
Additional protection against higher power
ammunitions can be achieved by layering multiple
panels; contact Avient for more information
regarding your specific application.
Reinforce all panel seams with a minimum
4 inch (10.16 cm ) batten of additional ballistic
panel material.
https://www.avient.com/sites/default/files/2021-06/plastisol-storage-handling-technical-bulletin.pdf
Storage and Handling of Vinyl Plastisols
A vinyl plastisol is a liquid dispersion of
polyvinyl chloride (PVC) resins, plasticizers, and
miscellaneous additives.
Utilizing separated plastisol from the top of
the container will result in a part that has poor
strength and will take additional time to fuse, if
fusion occurs.