https://www.avient.com/investor-center/news/future-mobility-innovations-gain-traction-visionary-polyone-materials-and-services-portfolio
Reduced VOCs: Eliminating paint with a metallic colorant for vehicle exterior components to reduce cost and remove VOC emissions
https://www.avient.com/investor-center/news/polyone-completes-sale-designed-structures-and-solutions
which bolster our specialty color, additives and inks offerings," added Mr.
https://www.avient.com/news/polyone-expands-healthcare-portfolio-biomerics’-specialty-medical-solutions
They are available in a wide range of colors and offer a spectrum of performance characteristics.
https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations/maxxam-fr-flame-retardant-formulations-and-maxxam-nhfr-non-halogen-flame-retardant-formulations
Colorable
https://www.avient.com/sites/default/files/2021-01/artisan-abs-fingerprint-detector-housing.pdf
FINGERPRINT DETECTOR H O U S I N G • Metallic effect • In-mold labeling replacement • Overmold on PC • Chemical resistance • Achieved metallic effects without secondary step of painting • Customized colors to achieve desired aesthetics of the design • Improved cost-effectiveness • Provided live technical support from concept to production Artisan™ AR7300-8001 M Silver Formulation KEY REQUIRMENTS WHY AVIENT ?
All Rights Reserved. https://www.avient.com/products/engineered-polymer-formulations/general-engineered-formulations/artisan-pre-colored-thermoplastics-paint-replacement
https://www.avient.com/sites/default/files/2022-05/ColorMatrix Amosorb Solo Technical Bulletin.pdf
Scenarios for 2030 predict that of the 1300kt of PET material coming from PET bottles collected from the market yearly, between 20 to 30% will be colored bottles;2 these will enter their respective sorting and collection systems to ultimately produce rPET material that will be fed as new raw material for non-food PET applications.
Providing solutions that are considered recyclable within the colored bottle stream will thus be an integral part of the recyclability strategy for both convertors and brand owners.
It was also demonstrated that usage of a reduced amount of color, namely 0,045% of Fortis Amber-1, allows the production of bottles (Bottle C) that closely resembles the original bottles (Bottle A).
https://www.avient.com/sites/default/files/2021-04/avnt-first-quarter-2021-news-release.pdf
The company noted the following segment highlights: The Color, Additives and Inks segment delivered record operating income of $89 million during the first quarter, a 40% increase over the prior year.
Three Months Ended March 31, 2021 2020 Sales: Color, Additives and Inks $ 609.3 $ 256.5 Specialty Engineered Materials 216.5 185.3 Distribution 362.7 289.5 Corporate and eliminations (26.2) (19.8) Sales $ 1,162.3 $ 711.5 Gross margin: Color, Additives and Inks $ 197.5 $ 89.4 Specialty Engineered Materials 64.7 52.6 Distribution 39.3 33.6 Corporate and eliminations 0.9 (4.1) Gross margin $ 302.4 $ 171.5 Selling and administrative expense: Color, Additives and Inks $ 108.7 $ 48.9 Specialty Engineered Materials 30.5 30.3 Distribution 15.3 14.2 Corporate and eliminations 27.5 25.3 Selling and administrative expense $ 182.0 $ 118.7 Operating income: Color, Additives and Inks $ 88.8 $ 40.5 Specialty Engineered Materials 34.2 22.3 Distribution 24.0 19.4 Corporate and eliminations (26.6) (29.4) Operating income $ 120.4 $ 52.8 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): Color, Additives and Inks $ 116.2 $ 51.4 Specialty Engineered Materials 42.0 29.8 Distribution 24.2 19.5 Corporate and eliminations (24.9) (28.0) Other income, net 1.5 1.6 EBITDA $ 159.0 $ 74.3 12 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.
Reconciliation of Pro Forma Adjusted Earnings per Share: Three Months Ended March 31, 2020 Net income from continuing operations attributable to Avient shareholders $ 33.1 Special items, after tax (Attachment 3) 8.6 Adjusted net income from continuing operations excluding special items 41.7 Clariant MB pro forma adjustments to net income from continuing operations(2) 7.8 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 49.5 Weighted average diluted shares 86.7 Pro forma impact to diluted shares from January 2020 equity offering 6.1 Pro forma weighted average diluted shares 92.8 Adjusted EPS - excluding special items pro forma for Clariant MB acquisition $ 0.53 Year Ended December 31, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share: Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(2) Pro Forma Adjusted Avient 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 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 14 Year Ended December 31, 2019 Reconciliation of Pro Forma Adjusted Earnings per Share: Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(3) Pro Forma Adjusted Avient 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 (3) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 15 Reconciliation of EBITDA by Segment Three Months Ended March 31, Year Ended December 31, 2021 2020 2020 2019 2018 Operating income: Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5 Specialty Engineered Materials 34.2 22.3 94.4 83.7 72.3 Distribution 24.0 19.4 69.5 75.4 71.5 Corporate and eliminations (26.6) (29.4) (155.4) (149.7) (123.7) Operating income $ 120.4 $ 52.8 $ 189.3 $ 156.8 $ 178.6 Items Below OI in Corporate Other income, net $ 1.5 $ 1.6 $ 24.3 $ 12.1 $ (12.9) Depreciation & Amortization: Color, Additives and Inks $ 27.4 $ 10.9 $ 75.1 $ 42.7 $ 44.3 Specialty Engineered Materials 7.8 7.5 30.0 29.5 23.2 Distribution 0.2 0.1 0.7 0.5 0.7 Corporate and eliminations 1.7 1.4 9.2 5.4 4.4 Depreciation & Amortization $ 37.1 $ 19.9 $ 115.0 $ 78.1 $ 72.6 EBITDA Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8 Specialty Engineered Materials 42.0 29.8 124.4 113.2 95.5 Distribution 24.2 19.5 70.2 75.9 72.2 Corporate and eliminations (24.9) (28.0) (146.2) (144.3) (119.3) EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3 EBITDA as a % of Sales: Color, Additives and Inks 19.1 % 20.0 % 17.0 % 18.9 % 19.4 % Specialty Engineered Materials 19.4 % 16.1 % 17.6 % 15.2 % 14.8 % Distribution 6.7 % 6.7 % 6.3 % 6.4 % 5.7 % 16 Reconciliation of Pro Forma EBITDA - Color, Additives and Inks Three Months Ended March 31, Year Ended December 31, 2020 2020 2019 2018 Sales: Color, Additives and Inks $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5 Clariant MB pro forma adjustments(4) 279.4 540.4 1,118.6 1,209.8 Pro forma sales $ 535.9 $ 2,043.3 $ 2,122.4 $ 2,256.3 Operating income: Color, Additives and Inks $ 40.5 $ 180.8 $ 147.4 $ 158.5 Clariant MB pro forma adjustments(4) 23.0 45.0 72.9 80.3 Pro forma operating income $ 63.5 $ 225.8 $ 220.3 $ 238.8 Depreciation & amortization: Color, Additives and Inks $ 10.9 $ 75.1 $ 42.7 $ 44.3 Clariant MB pro forma adjustments(4) 15.1 30.1 60.3 61.2 Pro forma depreciation & amortization $ 26.0 $ 105.2 $ 103.0 $ 105.5 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): Color, Additives and Inks $ 51.4 $ 255.9 $ 190.1 $ 202.8 Clariant MB pro forma adjustments(4) 38.1 75.1 133.2 141.5 Pro forma EBITDA $ 89.5 $ 331.0 $ 323.3 $ 344.3 Pro forma EBITDA as a % of Sales 16.7 % 16.2 % 15.2 % 15.3 % Three Months Ended March 31, Year Ended December 31, Reconciliation to Adjusted EBITDA: 2021 2020 2020 2019 2018 Net income from continuing operations – GAAP $ 79.7 $ 33.1 $ 133.8 $ 75.7 $ 87.4 Income tax expense 22.9 11.9 5.2 33.7 14.4 Interest expense 19.3 9.4 74.6 59.5 62.8 Debt extinguishment cost — — 1.1 Depreciation and amortization from continuing operations 37.1 19.9 115.0 78.1 72.6 EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3 Special items, before tax 2.4 9.6 66.2 61.7 59.5 Interest expense included in special items — — (10.1) — — Accelerated depreciation included in special items (0.5) — (3.2) — (3.0) Adjusted EBITDA $ 160.9 $ 83.9 $ 381.6 $ 308.7 $ 294.8 Reconciliation of Pro Forma Sales: Three Months Ended March 31, 2020 Sales $ 711.5 Clariant MB pro forma adjustment to sales(4) 279.4 Pro forma sales $ 990.9 (4) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) 17 Avient Announces Record First Quarter 2021 Results; Increases Full Year Guidance.pdf NEWS RELEASE 4.29 232pm News Release (002).pdf
https://www.avient.com/sites/default/files/2020-11/outdoor-industry-overview-brochure.pdf
Color, Color and More Color Manufacturers of equipment and apparel agree—a crisp pop of bright color adds just the right amount of visual interest needed to grab attention.
Help them customize with materials that fit a wide variety of needs—from colors and patterns to textures and soft touch materials—and keep you ahead of the pack. • Dirt Bikes • Jet Skis Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2024-03/QF-02 QMS Global Standard Response.PDF
Avient Colorants Sweden AB in Malmoe and Avient Colorants USA LLC in Lewiston, Maine are Medical Centers of Competence with an external ISO 13485 certification.
Validation Avient Colorants Sweden AB and Avient Colorants Lewiston, ME follow the Global Harmonization Task Force guideline GHTF/SG3/N99-10 to define the procedure for process validation.
HACCP Avient Colorants Spain S.A., Avient Colorants Toluca Mexico, and PolyOne Spain SLU follow the structure of HACCP (Hazard Analysis and Critical Control Point) as a system for assessing compliance to food safety standards.
https://www.avient.com/sites/default/files/2024-03/AVNT February IR Presentation_w_Non-GAAP Recs_v2.pdf
& 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 CREATING A WORLD-CLASS SUSTAINABLE ORGANIZATION 1. 6% annualized long term sales growth leveraging sustainable solutions, composites, healthcare and emerging regions 2.
PY (TOTAL COMPANY) $790 $719 2022 2023 $107 $114 2022 2023 Sales Adjusted EBITDA (in millions) $0.42 $0.52 2022 2023 Adjusted EPS (in millions) - 9% + 7% + 24% Sales Adjusted EBITDA Adjusted EPS 15 Q4 2023 SEGMENT PERFORMANCE 16 CAI $491 $459 Sales (in millions) $70 $84 EBITDA SEM $301 $260 Sales $55 $49 EBITDA - 7% - 14%+20% - 11% 2022 2023 (in millions) Q4 EBITDA BRIDGE (TOTAL COMPANY) 17 $ millions CAI: Price / Mix 11 Deflation 14 SEM: Price / Mix 4 Deflation 9 Net Price Benefit 38 Cost Reductions 13 Wage Inflation (8) Other (2) Q4 2023 $114 Adjusted EBITDA Q4 2022 $ 107 Demand (34) • Demand was down, but less than in previous quarters, due to slowing pace of destocking • Positive net price benefit: o CAI – Pricing flat with favorable mix from uptick in packaging and consumer end markets and raw material deflation o SEM - Pricing flat with favorable mix from Composites and raw material deflation • Cost reductions primarily driven by reduced administrative costs and cost synergies 2024 G U I DAN CE 2024 GUIDANCE Full Year 2024 Guidance Adjusted EBITDA $505 to $535 million Adjusted EPS $2.40 to $2.65 Interest Expense $105 to $110 million Adjusted Effective Tax Rate 23% to 25% Capital Expenditures ~$140 million 19 Q1 Adjusted EPS of $0.68 AP P E N DI X 21 Performance Additives 15% Pigments 13% TiO2 9% Dyestuffs 2% Polyethylene 10%Nylon 5% Polypropylene 4% Styrenic Block Copolymer 4% 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% EMEA 36% Asia 18% Latin America 5% 2023 SEGMENT, END MARKET AND GEOGRAPHY GEOGRAPHY REVENUESEGMENT FINANCIALS Consumer 19% Packaging 23%Industrial 16% Building and Construction 9% Telecommunications 4% Energy 5% Defense 7% END MARKET REVENUE $2,007M $358M $1,138M $224M Sales EBITDA Specialty Engineered Materials Color Additives and Inks $502M$3,143M (1) Transportation 10% Healthcare 7% 23 (1) Total company sales and adjusted EBITDA of $3,143M and $502M, respectively, include intercompany sales eliminations and corporate costs 2023 REVENUE | $2 .0 BILLION US & Canada 34% EMEA 37% Asia 21% Latin America 8% END MARKET REGION 24 Packaging 34% Consumer 21% Healthcare 8% Industrial 15% Transportation 9% Building & Construction 10% Telecommunications 1% Energy 2% COLOR, ADDITIVES & INKS 2023 REVENUE | $1 .1 BILLION US & Canada 52% EMEA 35% Asia 13% 25 Packaging 5% Consumer 16% Healthcare 6%Industrial 16% Transportation 12% Telecommunications 9% Energy 10% Defense 18% Building & Construction 8% END MARKET REGION SPECIALTY ENGINEERED MATERIALS Packaging 32% Consumer 26% Healthcare 9% Industrial 13% Building & Construction 6% Telecommunications 2% Energy 2% Defense 1% Asia (18% of sales) Transportation 9% 2023 AVIENT REGIONAL SALES Packaging 25% Consumer 13% Healthcare 5% Industrial 18% Building & Construction 9% Energy 5% Defense 8% EMEA (36% of sales)Transportation 13% Packaging 13% Consumer 22% Healthcare 10% Industrial 16% Building & Construction 12% Energy 6% Defense 8% US & Canada (41% of sales) Transportation 9% Packaging 59% Consumer 22% Healthcare 2% Industrial 8% Building & Construction 4% LATAM (5% of sales) Transportation 5% Telecommunications 4% Telecommunications 4% 26 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.
Free Cash Flow Calculation December 31, 2023 Cash provided by operating activities $ 201.6 Taxes paid on gain on sale of business 104.1 Adjusted cash provided by operating activities $ 305.7 Capital expenditures $ (119.4) Free cash flow $ 186.3 2 Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 Sales: Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0 Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4 Corporate (0.2) (1.2) (2.8) (2.5) Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9 Operating income: Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0 Specialty Engineered Materials 29.4 35.2 142.5 140.1 Corporate (48.1) (79.1) (205.6) (197.8) Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3 Other expense, net: $ 4.3 $ (28.4) $ 5.8 $ (59.7) Depreciation & amortization: Color, Additives and Inks $ 22.2 $ 25.2 $ 98.3 $ 101.3 Specialty Engineered Materials 19.8 20.3 81.5 48.7 Corporate 2.2 3.1 9.0 12.5 Depreciation & amortization $ 44.2 $ 48.6 $ 188.8 $ 162.5 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 84.0 $ 69.5 $ 358.2 $ 402.3 Specialty Engineered Materials 49.2 55.5 224.0 188.8 Corporate (45.9) (76.0) (196.6) (185.3) Other expense, net $ 4.3 $ (28.4) $ 5.8 $ (59.7) EBITDA $ 91.6 $ 20.6 $ 391.4 $ 346.1 Special items in EBITDA 22.3 86.8 110.4 162.5 EBITDA - excluding special items $ 113.9 $ 107.4 $ 501.8 $ 508.6 APM pro forma adjustments - 8 months 2022* — — — 83.1 Pro forma EBITDA $ 113.9 $ 107.4 $ 501.8 $ 591.7 * Pro forma adjustment for January - August 2022 APM results (period before Avient ownership). 3 AVNT February IR Presentation_w_Non-GAAP Recs.pdf AVNT February IR Presentation.pdf Avient corporation�investor presentation DISCLAIMER Slide Number 3 Creating a world-class�sustainable organization Top-tier sustainability performance�and recognition Slide Number 6 Slide Number 7 Portfolio transformation Slide Number 9 END MARKET observations�(% of company sales) Regional observations�(% of company sales) Slide Number 12 Slide Number 13 Slide Number 14 Slide Number 15 Slide Number 16 Slide Number 17 Slide Number 18 Slide Number 19 Slide Number 20 Slide Number 21 Slide Number 22 2023 segment, end market and Geography Color, Additives & Inks Specialty Engineered Materials Slide Number 26 AVNT Q4 2023 Earnings Presentation.pdf AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf IR Deck - AVNT-2023.12.31 (2.12.24 9PM Milestone February 12 0905 pm).pdf Attachment 3.26.24 - Public Lender Presentation Non-GAAP Attachments (005).pdf