https://www.avient.com/sites/default/files/2023-03/AVNT Mar 2023 Earnings Presentation.pdf
Pro Forma Financial Information
The Company acquired Avient Protective Materials (“Dyneema”) on September 1, 2022 (the “Acquisition Date”) and sold the Distribution segment on November 1, 2022.
W H AT W E D O : M AT E R I A L S C I E N C E
5
CUSTOM
FORMULATION
F E B R U A R Y 1 5 , 2 0 2 3
W E B C A S T
Q4 2022 VS.
GUIDANCE
DEBT / LEVERAGE R EDUCTION
• Completed sale of Distribution
and paid down $750M of debt
in November
• Strong free cash flow in fourth
quarter reduced leverage and
enabled paydown of additional
$200M of debt
• Fixed/Floating Debt Ratio 63/37
• Proven track record of
deleveraging following
acquisitions through consistent
free cash flow generation
$725 $725 $725
$575 $500 $400
$600
$525
$425
$650
$650
$650
$600
$2.40B
$2.20B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
After Distribution
Divestiture
Year-End
8
Year-End
Leverage
3.8x 3.1x 2.9x
2023 Notes
After Avient
Protective Materials
Acquisition
$3.15B
20 22 TRA NSF OR MATI ONAL PORTFOLI O
ENHA NC EMENTS
9
EBITDA margins expanded
from 12% to 16%
Diversified end markets
with reduced exposure to
more cyclical industries
Dyneema®
Acquisition
$1.48B acquisition
strengthens composites
platform
Significantly improved
EBITDA margins $950M divestiture results
in 100% specialty sales
Strong exit multiple of 10x
TTM EBITDA despite
market volatility
Distribution
Divestiture
Improved
Portfolio
G ROW I NG C OM PO SI T ES P LAT F OR M
C O NT R I BU TI O NS TO S EM S EG ME NT
10
Note: 2022 is pro forma for Avient Protective Materials
2016 Sales 2022 Sales
Advanced
Composites
51%
$560M $1,300M
Advanced
Composites
9%
C O M P O S I T E S P O R T F O L I O
D Y N E E M A ® E X P A N D S O U R E N G I N E E R E D F I B E R S A N D T A P E S T E C H N O L O G Y
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
11
ADVA NC ED C OM POSI TES PERFORMA NCE
12 (1) Pro forma for the acquisition of Avient Protective Materials
Sales
$51
$84
$212
$668
2016 2018 2020 2022
$4
$10
$41
$169
2016 2018 2020 2022
EBITDA
(1) (1)
($ in millions)
PORTFOLIO EVOLUTION AND EPS EXPANSION
13
Adj.
https://www.avient.com/news/new-polyone-technology-improves-brand-protection-and-combats-counterfeiting-consumer-electronics
Our new solution meets both those objectives, by joining PolyOne’s Percept anti-counterfeiting ability with the soft-touch, performance, and durability benefits of Versaflex.”
Investor contact:
Isaac DeLuca
Vice President, Investor Relations
PolyOne Corporation
+1 440-930-1226
Isaac.deluca@avient.com
Media contact:
Kyle Rose
Director, Corporate Communications
PolyOne Corporation
+1 440-930-3162
kyle.rose@avient.com
https://www.avient.com/idea/sealing-medical-device-savings
The resulting custom-formulated grades of GLS™ Dynalloy™ OBC and Versaflex™ TPE allowed the manufacturer to switch to a two-shot molding process that eliminated the time-consuming and costly assembly operations needed for the old part.
Reduced assembly costs: Switching to Dynalloy™ OBC and Versaflex™ TPE allowed the introduction of two-shot molding, which eliminated a multi-component assembly process.
https://www.avient.com/idea/material-cuts-delays-contact-lens-container-production
The manufacturer worked with Avient to formulate a custom Versaflex™ TPE that featured a low durometer with excellent resistance to adhesion (sticking).
But before making the decision to switch from silicone to the Versaflex material, the company needed to feel confident that it would recoup its capital, which included a $50,000 investment in new tooling, within 12 months.
https://www.avient.com/knowledge-base/article/overmolding-part-design
Versaflex
Most GLS styrenic TPEs (Dynaflex and some Versaflex) have fairly high mold shrinkage and cause the overmolding TPE to contract more than the substrate, which can result in warpage or cupping of the substrate part.
https://www.avient.com/sites/default/files/2020-08/mesa-stain-colorants-1-pager-1.pdf
https://www.avient.com/sites/default/files/2024-06/Infant Care Product Bulletin_Selector Guide.pdf
GLS™ TPE
INFANT CARE SOLUTIONS
REGULATORY COMPLIANT
MATERIALS FOR YOUR
BABY CARE PRODUCTS
GRADE PRODUCT HARDNESS REGULATORY COMPLIANCE* – FDA, EU, GB
Versaflex™
CL2242
Pacifiers
Teething
43
Shore A
FDA 177.1210 — —
Versaflex™
CL2250
Pacifiers
Teething
50
Shore A
FDA 177.1210 — —
Versaflex™
FFC 2882-87
Bottles
Food Sets
Utensils
87
Shore A
FDA 177.2600 EU 10/2011 GB 9685-2008
Versaflex™
FFC 2882-50
Bottles
Food Sets
Utensils
50
Shore A
FDA 177.2600 EU 10/2011 —
Dynaflex™
G2701C
Bottles
Food Sets
Utensils
66
Shore A
FDA 177.2600 — —
Dynaflex™
G6770
Bottles
Food Sets
Utensils
69
Shore A
FDA 177.2600 EU 10/2011 GB 9685-2008
Dynaflex™
G2780C
Bottles
Food Sets
Utensils
84
Shore A
FDA 177.2600 — —
Dynaflex™
G7600 series
Bottles
Food Sets
Utensils
30A-80 Shore
A
FDA 177.1210 — —
Dynalloy™
GP 7810 & 7820
Bathtubs
Bibs
Placemats
30A-70 Shore
A
General FDA — —
We believe that the smallest consumers deserve the very best.
https://www.avient.com/resource-center?document_type=59&page=35
reSound™ OM TPEs
https://www.avient.com/company/policies-and-governance/colorant-chromatics-eu-global-email-disclaimers
Om detta meddelande inte är avsett för dig var god meddela den person på Colorant Chromatics som skickade detta e-postmeddelande och radera omedelbart meddelandet och eventuella kopior utan att kopiera dem eller avslöja innehållet för utomstående.
https://www.avient.com/news/avient-exhibits-new-bio-filled-polymers-and-sustainable-solutions-portfolio-fakuma-2021
reSound™ OM bio-based TPEs: Based on biopolymers derived from sugarcane, all grades utilize 35 to 50 percent bio-based content, and are formulated to deliver varying hardness levels, favorable property retention, and UV resistance comparable to traditional TPEs.