https://www.avient.com/sites/default/files/resources/TPE_Overmolding_Solutions_for_Engineering_Thermoplastics.pdf
The second (over-mold)
material is either injected onto one side of the insert or sometimes completely
surrounds the insert.
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Presentation_For_Website_w_non-GAAP_5_6_1.pdf
Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has completed several
acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization.
https://www.avient.com/sites/default/files/2024-08/Avient AUG 2024 Investor Presentation- w Non-GAAP.pdf
Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has completed several
acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization.
https://www.avient.com/sites/default/files/2024-09/Colorant Chromatics Brochure_2024.pdf
A COMPLETE
PRODUCT PORTFOLIO
A full range of Colorant Chromatics technologies includes:
• Color and/or additive concentrates
• Specialty compounds including conductive,
carbon fiber, CNT, filled, glass, carbon, minerals
• Additive concentrates including specialty compounds
such as UV, acid scavengers, lubricants/mold release,
and foaming agents
• Pigment dispersions
• Inks and additives for processors of high-
performance plastics and fluoropolymers
HIGH-
TEMPERATURE
SOLUTIONS/
INJECTION
MOLDING
Minimum order quantities for color concentrates
and compounds for high-performance polymers
are as low as 10 lbs. (5kg), enabling you to manage
inventory better and order only what you need.
https://www.avient.com/sites/default/files/2024-10/2024 AVNT Q3 Webcast Slides w appendix and non-GAAP.pdf
Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has completed several
acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization.
https://www.avient.com/sites/default/files/2025-02/Avient Investor Presentation - February 2025_w_Non-GAAP.pdf
Further, as a result of Avient's strategic shift to an innovator
of materials solutions, it has completed several acquisitions and divestitures which have resulted in a significant amount of
intangible asset amortization.
https://www.avient.com/sites/default/files/2021-08/avient-cdp-climate-change-questionnaire-2021.pdf
Case study: Avient completed 74 energy saving activities in
2020 that cumulatively reduce yearly emissions by 6,800
MT CO2e, hence reducing the company exposure to
commodity fluctuations and regulatory changes.
Shenzhen pilot ETS
C11.1b
(C11.1b) Complete the following table for each of the emissions trading schemes you
are regulated by.
SC1.2
(SC1.2) Where published information has been used in completing SC1.1, please
provide a reference(s).
https://www.avient.com/sites/default/files/2021-12/AVNT 2021 Investor Day_0.pdf
Investor Day 2021
Shaping a
Sustainable
Future
Bob Patterson
Avient Corporation 4
End Market Transformation
5
Healthcare
4%
Packaging
8%
Consumer
10%
Building &
Construction
43%
Transportation
14%
Industrial
15%
Energy
4%
Telecom.
2%
2006 2021E
Healthcare
14%
Consumer
23%
Building &
Construction
10%
Transportation
12%
Industrial
16%
Energy
2%
Telecom.
4%
Packaging
19%
Avient Corporation
Avient: Who We Are
39
22
9
34
• U.S. and Canada
• Latin America
• Europe, Middle East & Africa
• Asia
25,000+
CUSTOMERS
Headquartered in Avon Lake, OH
(Cleveland)
8,600+ employees
100+ manufacturing plants
Key Financial Data
2021E Sales $4.75 billion
2021E EBITDA $580 million
2021E EPS $3.00
87% of EBITDA from specialty applications
>70%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
Avient Corporation 6
46%
66%
87%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2021E
%
o
f
A
d
ju
st
e
d
E
B
IT
D
A
(1
)
JVs Performance Products & Solutions Distribution Specialty
7%
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) 2021 includes full synergies from Clariant color acquisition
(2)
Specialty Transformation
Avient Corporation 7
CAI
(1) Financial information is pro forma to include a full year of Clariant Color business acquisition
2.7%
15.2%
17.0%
2006 2019 2021E
1.8%
15.2%
17.6%
2006 2019 2021E
(1)
SEM
• Continued portfolio transformation to
high-growth end markets and
sustainable solutions
• Clariant synergy realization
• Investments in composites and outdoor
high performance applications drive
growth and mix improvements
Specialty EBITDA Margin Expansion
Avient Corporation 8
(1)
(1)
We are a Formulator
CUSTOM
FORMULATION
Avient Corporation 9
Sustainability for a Better Tomorrow
*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
Revenue From Sustainable Solutions* 2016-2021
2016 2017 2018 2019 2020PF** 2021E
$405M
$455M
$340M
$550M
$790M
$930M
$270
215
170
90
90
30
45
20
$930M2021E Sales
($ in millions)
Avient Corporation 10
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
$2.43
$1.51
$1.69
$1.93
$3.00
2009 2010 2011 2012 2013 2014 2015 2016* 2017* 2018 20182 2019 2020 2021E
Pro Forma for
sale of PP&S
(1): Pro Forma for sale of DSS
(2): Pro Forma for full year of the Clariant Color acquisition
2018
(1) (1) (2)
Adjusted EPS Growth
Avient Corporation 11
$133
$205
2019PF 2021E
Clariant Color: Transformational Acquisition
12
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.0x
2019PF 2021E 2021E w/ Full
Synergies
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• On-track to realize $52 million of expected synergies in 2021
• Acquisition completed on July 1, 2020 for $1.45 billion.
Capacity below 6GHz 5G mm-wave capacity Demand (GB/mo)
B
B
B
B
B
B
B
B
Avient Corporation 83
Avient in 5G Ecosystem
Avient Corporation 84
Antenna
Phase Shifters
Smart
Home
Healthcare
Wearables
INFRASTRUCTURE IOT DEVICES
Smart
Phones
Autonomous
Cars
Virtual
Reality
Complete Cable
Construction
Strength
Members
Water
Blocking
Yarns
Ripcord
Yarns
Cable Jacket
Cable Insulation
Composites Growth Outlook
Avient Corporation 85
10% CAGR
Megatrend Growth Rate
5G Capacity and Demand
Source: Mobile Experts: 5G Millimeter Wave 2019:
Radio Architecture and Outlook, March 2019
0
1
2
3
4
5
6
7
2019 2020 2021 2022 2023 2024 2025 2026 2027
D
e
n
se
U
rb
a
n
C
a
p
a
c
ity
(
G
B
/m
o
.)
GDP Growth Avient Historic Growth Future Growth Assumptions
Global Avient:
2.7%
Asia / LATAM:
5.0%
Source: International Monetary Fund, World
Economic Outlook Database (April 2021)
12% organic CAGR
Figures above include relevant sustainable solutions, healthcare and composites sales
Avient Corporation 120
Net Sales ($ millions)
8-10%
CAGR
(5% CAGR excluding
Sustainable Solutions)
Summary: Long-term Revenue Growth Drivers
Avient Corporation 121
Growth Drivers
($ millions)
2021 Sales
Estimate
(Drivers)
Overlap
2021 Sales
Estimate
Annual
Growth
Rate
Sustainable Solutions 930 - 930 8–12%
Healthcare 685 (45) 640 8–10%
Composites 260 (80) 180 10%
Asia / LATAM 1,150 (310) 840 5%
Other (GDP growth) 2,160 2–3%
Avient $4,750 6.5%
EBITDA Margin Expansion Goals
CAI
SEM
• Continued portfolio transformation to high-
growth end markets and sustainable solutions
• Clariant Color synergy realization
• Investments in composites and outdoor high
performance applications drive growth and
mix improvements
Avient Corporation 122
17.0%
1.6%
1.0%
0.4%
2021E Synergies Sustainable
Solutions
Healthcare Goal
17.6% 0.9%
1.1%
0.4%
2021E Composites Sustainable
Solutions
Healthcare Goal
20%+
20%+
Sustainable Path to Double Digit Earnings Growth
Avient Corporation 123
Growth Drivers
Long-Term Sales
Growth Rate
Sustainable Solutions 8–12%
Healthcare 8–10%
Composites 10%
Asia / LATAM 5%
Other (GDP growth) 2–3%
Avient 6.5%
10%+
Adjusted EBITDA growth
15%+
Adjusted EPS growth
Investor Day 2021
An Investment in
Sustainable Growth
Bob Patterson
Avient Corporation 124
M&A Brings Avient New Technologies
Avient Corporation 125
Technology Acquisition Technology Acquisition
Thermoplastic
Elastomers
Liquid Color Concentrates
& Additives
Continuous Fiber
Composites
Thermoplastic Composites
Silicone Colorants &
Formulations
High-temperature Polymers
& Fluoropolymers
Long Fiber Reinforced (LFT)
Thermoplastic Composites
Fiber Solutions
Water-based Inks
Fiber & Healthcare Expertise,
Liquid Additive Processing Aids, FR Additives,
Recycling Innovations & More
$133
$205
2019PF 2021E
Clariant Color: Transformational Acquisition
126
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.0x
2019PF 2021E 2021E w/ Full
Synergies
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• On-track to realize $52 million of expected synergies in 2021
• Acquisition completed on July 1, 2020 for $1.45 billion.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
Morgan
• New Senior Secured Term Loan B and new Senior
Unsecured Notes
• Potential proceeds from sale of Distribution business
modeled to pay off 5.25% senior notes due 2023 and
Term Loan
• Acquisition aligned with Avient’s track record of
disciplined capital allocation policy
• Existing dividend policy maintained, focus on
deleveraging in the near term
(1)
(1) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution,
including repayment of senior notes due 2023 and Term Loan
Cash and Cash Equivalents 595$
Senior Secured Term Loan due 2026 605$
New Senior Secured Term Loan B 500
Total Senior Secured Debt 1,105$
Senior Unsecured Notes due 2025 650$
New Senior Unsecured Notes 740
Total Senior Unsecured Debt 1,390$
Total Debt 2,495$
Net Debt 1,900$
2022 Pro forma Adjusted EBITDA 660$
Net Debt / Adjusted EBITDA 2.9x
Pro Forma Capitalization
(2022 estimates, all figures in $M)
T WO - Y E A R L E V E R AG E G OA L
33
3.5x
2.7x
1.7x
2.9x
2.5x
2.2x
2019PF 2020PF 2022E 2022PF 2023E 2024E
Dyneema® AcquisitionClariant Color Acquisition
(1) Pro forma for the acquisition of the Clariant Color business
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of
Distribution, including repayment of senior notes due 2023 and Term Loan
(1) (1) (2)
34
P RO F O R M A M O D E L I N G
2022E Pro Forma Pro Forma
($M) w/ Dyneema w/Sale
Revenue 5,100$ 415$ 5,515$ (1,775)$ 3,740$
Adjusted EBITDA 635 130 765 (105) 660
EBITDA % 12% 31% 14% 6% 18%
Pro Forma EPS (Adjusted) 3.50$ 0.00$ 3.50$ (0.56)$ 2.94$
Pro Forma EPS (excl. amortization) 3.96$ 0.35$ 4.31$ (0.56)$ 3.75$
Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.7x 3.5x 2.9x
Avient Dyneema Distribution® ®
OUR SPECIALTY JOURNEY
AC Q U I S I T I O N H I S TO RY
36
Commercial
Resources(1)
Operating Income
($ in millions)
Operating Margins
259
360
At Acquisition 2021
$40
$122
At Acquisition 2021
9%
21%
At Acquisition 2021
Established Acquisitions
(> 7 years)
+ 39% + 210% + 1200 bps
(1) Commercial Resources include associate headcount in R&D / Technical, Marketing and Sales
C L A R I A N T C O LO R AC Q U I S I T I O N
37
$133
$205
2019PF 2021
37
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.1x
2019PF 2021 2021 w/ Full
Synergies
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• $54 million of synergies realized in 2021
• Acquisition completed on July 1, 2020 for $1.45 billion.
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/2021-03/avient-antitrust-2021-update-fre-a4.pdf
Exigences relatives à la gamme complète ou vente
groupée—Exiger que le client achète une gamme
complète ou un groupe de produits pour avoir le
droit d’acheter un produit individuel à l’intérieur
de cette gamme