https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
Microsoft PowerPoint - AVNT Q3 2022 Earnings Presentation
AVIENT CORPORATION
T H I R D Q U A R T E R 2 0 2 2 R E S U L T S
(NYSE: AVNT)
N O V E M B E R 2 , 2 0 2 2
D I S C L A I M E R
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
EBITDA Margins
(1)
• Focus on organic growth
combined with transformative
and bolt-on acquisitions
• Divested commodity businesses
tied to more cyclical end markets
• Expanded presence in high
growth areas of sustainable
solutions, specialty healthcare
applications, composites and
more resilient end markets
5.4%
11.5%
16.1%
2006 2018 2022PF
$142
$408
$585
2006 2018 2022PF
2006 figures exclude joint venture results
14
RETURNING CASH TO SHAREHOLDERS
Growing Dividend
0.1 0.1
0.2
0.5
0.6
0.7
0.8
0.9
0.9
1.0 1.0
1.0
11 12 13 14 15 16 17 18 19 20 21 22
0.16
0.20
0.26
0.34
0.42
0.50
0.58
0.72
0.79 0.81
0.85
0.95
0.99
11 12 13 14 15 16 17 18 19 20 21 22 23
~$1Bn
REPURCHASED
OVER LAST 11 YEARS
~$550MM
PAID OVER LAST 11 YEARS
Dividends Share Repurchases
Cumulative Buybacks
$
B
n
$
p
e
r
sh
a
re
$2.95
2022 PRO FORMA
ADJUSTED EPS
Earnings Growth
Expanding Profitability
$0.15
$1.09
$2.08
$2.67
$2.95
2009 2012 2015 2018 2022PF
T H I R D Q U A R T E R 2 0 2 2
R E S U L T S
$110
$119
2021 2022
$0.61
$0.59
2021 2022
Q3 2022 PERFORMANCE
( T O TA L C O M PA N Y C O N T.
O P S )
16
Sales Adjusted EBITDA
$818
$823
2021 2022
+ 1%
Adjusted EPS
+ 8% - 3%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 5% excluding FX)
Q3 EBITDA BRIDGE
( P R O F O R M A T O TA L C O M PA N Y )
17
Price increases more than
offset raw material and
supply chain impacts
$ millions
CAI:
Price / Mix 68
Inflation (44)
SEM:
Price / Mix 41
Inflation (26)
Net Price Benefit 39
Wage and Energy Inflation (14)
Clariant Color Integration Synergies 6
Incentives, Other Employee Costs 14
FX (11)
Q3 2022 $137
Adjusted
EBITDA
Q3 2021 $ 142
Demand (39)
Q3 2022 SEGMENT PERFORMANCE
18
CAI
$587
$566
Sales
($ in millions)
$93 $93
EBITDA
SEM Pro Forma
$326 $319
Sales
$70
$62
EBITDA
(+ 4% excluding FX)
- 4% - 2%
(+ 5% excluding FX)
Flat
(+ 7% excluding FX)
- 11%
(- 7% excluding FX)
$500
$585
Cont.
https://www.avient.com/sites/default/files/2020-07/case-study-one-pager-versaflex-vacuum-cleaner-wheel.pdf
COLORABILITY + SLIP RESISTANCE
AVIENT SOLUTION
VAC U U M C L E A N E R
M A N U FAC T U R E R
V A C U U M C L E A N E R W H E E L
• Excellent slip resistance and wet grip
• Easy processing
• Easy coloring
• Offered an easy processing TPE suitable
for coloring with masterbatch to meet
customer preference
• Provided material solution ideal for
meeting critical tire performance needs for
slip resistance and grip during operation
Versaflex™ D3226N
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2023-03/Artisan Pre-colored Thermoplastics Technical Bulletin.pdf
TECHNICAL BULLETIN
Characteristics
Artisan™
Nylon
Solution
Painted
Metal
Painted
Plastic
Traditional
Molded-in
Color
Impact
Modified
Nylon
PA
Ionomer
Alloy
Aesthetic Very Good Excellent Excellent Good Very Good Very Good
Scratch Appearance Excellent Poor Poor Good Excellent Excellent
Scratch & Mar
Resistance
Very Good Excellent Excellent Poor Very Good Excellent
Color Customization Good Excellent Excellent Very Good Good Good
Stress Whitening Excellent Fair Fair Poor Excellent Excellent
Weatherability Good Excellent Excellent Very Good Good Very Good
Temperature
Performance
Good Excellent Fair Fair Fair Good
Corrosion Resistance Excellent Fair Excellent Excellent Excellent Excellent
Processability One Step Multi Step Multi Step One Step One Step
Complex
One Step
Total Production Cost $$$ $$$$$ $$$$ $$ $$$ $$$$
Order Quantity
Restrictions
Some Some Some None More More
COMPARISON OF NYLON, METAL, AND PLASTIC
Properties Test Method Artisan™ AR6000-0007 HI UV*
Gloss Level** Gloss reading at 60 degrees 80-93
Molding Shrinkage – Across Flow ASTM D955 0.009 to 0.013 in/in
Tensile Strength (Yield) ASTM D638 7300 psi
Tensile Strength (Break) ASTM D638 5300 psi
Tensile Elongation (Yield) ASTM D638 6.0%
Flexural Modulus ASTM D790 270500 psi
Flexural Strength (Yield) ASTM D790 9950 psi
Notched Izod Impact ASTM D256
-4°F (-20°C) 5 ft-lb/in
73°F (23°C) 11 ft-lb/in
Unnotched Izod Impact ASTM D256
-4°F (-20°C) 29 ft-lb/in
73°F (23°C) 30 ft-lb/in
Color & Aesthetics***
Green, medium blue, dark blue, red, orange, white, gray, black
Color customization available based on specific needs
KEY PROPERTIES
Features: high-gloss finish, UV stability, scratch resistance, chemical/corrosion resistance,
cold temperature impact resistance, heat resistance
* Reflects average of several colors, properties shift slightly depending on color
** Gloss level varies based on tooling temperature
*** UV data available upon request
Copyright © 2023, Avient Corporation.
https://www.avient.com/sites/default/files/2021-09/zodiac-aquarius-product-bulletin-and-color-card.pdf
Aquarius™
Fluorescent Yellow
Concentrate
Aquarius™
Red B
Concentrate
Aquarius™
Blue R
Concentrate
Aquarius™
Fluorescent Red
Concentrate
Aquarius™
Orange
Concentrate
Aquarius™
Blue G
Concentrate
Aquarius™
Fluorescent Pink
Concentrate
Aquarius™
Yellow R
Concentrate
Aquarius™
Violet
Concentrate
Aquarius™
Fluorescent Violet
Concentrate
Aquarius™
Yellow G
Concentrate
Aquarius™
Black
Concentrate
Color Chips:
Printed results may vary
based on production
methods, such as ink
film thickness, opacity,
pigment selection
and substrate.
https://www.avient.com/sites/default/files/2023-05/AVNT Q1 2023 Earnings Presentation.pdf
AVIENT CORPORATION
F I R S T Q U A R T E R 2 0 2 3 R E S U L T S
(NYSE: AVNT)
M A Y 3 , 2 0 2 3
D I S C L A I M E R
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
2023E(%)
32
79
87
83 81
76
73
90
79 77 76
73
69
60
22
A
vi
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t
K
W
R
P
P
G
F
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A
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Y
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P
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X
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A
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H
E
C
L
H
U
N
E
M
N
S
C
L
M U LT I P L E E X PA N S I O N
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
Source: Peer data per Bloomberg as of April 28, 2023
Note: Avient reflects 2023 adjusted EBITDA guidance of $530M and closing share price of $38.51.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
33
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
9.9
14.6
13.7
13.0
11.9
8.8
18.7
17.4
11.8
10.0 9.7
9.1
8.0 7.9
A
vi
e
n
t
(2
0
1
1
)
A
vi
e
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t
(2
0
1
8
)
A
vi
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t
(2
0
2
3
)
K
W
R
P
P
G
R
P
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A
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N
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N
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.
https://www.avient.com/products/engineered-polymer-formulations/general-engineered-formulations/bergadur-polyester-formulations
Non-Halogen Polyamid: Bergamid™ FR
https://www.avient.com/news/archives?page=49
Premium Sporting Knife Manufacturer Relies on PolyOne’s Bergamid™ Nylon to Extend its Brand Message
https://www.avient.com/sites/default/files/2023-03/Trilliant HC glass-filled PK - Biopharma Tubing Clamps.pdf
B I O P H A R M AC E U T I C A L
S U P P LY C O M PA N Y
T U B I N G C L A M P
• High impact and wear resistance
• Low moisture uptake
• Comparable dimensional stability to nylon
• Eco-conscious alternative to PA66 and PA6
• Delivered a comparable alternative to nylons
during supply shortages, resulting in rugged
performance and a lower carbon footprint
• Provided improved chemical resistance to
nylon clamps to withstand repeated cleanings
from harsh disinfectants
• Offered a global manufacturing footprint to
support future expansion of the end products
to markets outside the Americas
Trilliant™ HC 8910 Glass-Filled Polyketone
Thermoplastics
KEY REQUIREMENTS
WHY AVIENT
AVIENT SOLUTION
DURABILITY + MATERIAL AVAILABILITY
LEARN MORE
Copyright © 2023, Avient Corporation.
https://www.avient.com/sites/default/files/2023-04/Chain Extenders for rPET Fibers in Automotive - Application Snapshot.pdf
C A R C O M P O N E N T
M A N U FAC T U R E R
A C O U S T I C A N D T H E R M A L
M A N A G E M E N T S Y S T E M S
• High rPET content without loss of tenacity
• High volume production
• Color options
• Offered a chain extender that supports
stable spinning and maintains fiber tenacity
to help achieve targeted rPET content
• Provided technical support for production
scale-up
• Proposed different color concentrates
suitable for application and polymer grade
Cesa™ Fiber Additives – chain extenders for
recycled polyester (rPET)
KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2025-02/ColorMatrix LQ_Corrugated sheet _Case study snapshot.pdf
U-PVC WALL
CEILING PRODUCER
C O R R U G A T E D S H E E T
• Achieved the beige color target with a
uniform coloring process, ensuring a high-
quality sheet appearance
• Adjusted color strength in sheet production
using online controls at the pump controller
• Maintained a clean operation by eliminating
powdery pigments in the workplace
ColorMatrix Liquid Color Concentrates
WHY AVIENT
AVIENT SOLUTION
PRODUCTIVITY + SAFETY
LIQUID COLOR CONCENTRATES AND
DOSING | AVIENTLEARN MORE
• Reduces particulates from TiO2 bulk pigment use in the
workplace
• Color consistency and good surface finish
• Maintain good mechanical properties and shore hardness
of the extruded sheet
• Compliance with heavy metal-free and RoHS regulations
KEY REQUIREMENTS
Copyright © 2025, Avient Corporation.
https://www.avient.com/products/polymer-colorants/liquid-color-concentrates-and-dosing
https://www.avient.com/products/polymer-colorants/liquid-color-concentrates-and-dosing
https://www.avient.com/products/polymer-colorants/liquid-color-concentrates-and-dosing
Slide 1: U-Pvc wall ceiling Producer