https://www.avient.com/news/new-black-colorants-available-avient-help-achieve-high-jetness-polyester-textiles
Homepage
//
News Center
//
New Black Colorants Available from Avient to Help Achieve High Jetness in Polyester Textiles
The textile market has long sought deep black colorants that offer exceptional jetness to textiles without incurring high costs.
Dyneema®, the world’s strongest fiber™, enables unmatched levels of performance and protection for end-use applications, including marine and sustainable infrastructure and outdoor sports
https://www.avient.com/sites/default/files/2023-09/Avient Sustainability Day 2023 - Website %289.19%29.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.
Cullen - Materials Innovation and Sustainability Lead
“With Dyneema you are able to make a very lightweight lifting product, and therefore save
a lot of energy.”
Nets made of Dyneema are very strong and very light… Less weight means less fuel burn,
very interesting for us.”
https://www.avient.com/news/new-color-services-textiles-available-avient-turkey
Homepage
//
News Center
//
New Color Services for Textiles Available from Avient in Turkey
The combination of the three colors is used in the textile industry to expand the range of shades available.
Dyneema®, the world’s strongest fiber™, enables unmatched levels of performance and protection for end-use applications, including ballistic personal protection, marine and sustainable infrastructure and outdoor sports
https://www.avient.com/news/revolutionary-new-fiber-coloration-technology-polyone-showcased-itma-2015
MILAN – PolyOne today launched a breakthrough technology for coloring polyester fiber that eliminates aqueous dyeing and its associated wastewater treatment, giving textile manufacturers increased production and greater flexibility.
There is significant momentum in the textile manufacturing industry toward developing sustainable solutions across the entire supply chain,” explains John Van Hulle, President, Global Color Additives and Inks, PolyOne.
Visitors can also learn about the broader portfolio of PolyOne solutions for textiles, including Wilflex™ screen printing ink solutions for polyester.
https://www.avient.com/sitemap
Tier 1 Auto Supplier Saves with Supply Chain Expansion
Chain Extender Additives
Dyneema® Launches New Website and Brand Identity, Showcasing the Strengths It Brings to Its Value Chain
https://www.avient.com/news/archives?page=16
Sustainable Color & Additive Solutions for Textiles from Avient Highlighted at Yarn Expo Autumn 2023
Avient Showcases Specialty and Sustainable Color and Additive Solutions for Textiles at Yarn Expo Autumn 2023
To download a high-resolution image,
Avient Achieves Reexamination Certificate for Dyneema® Cut-Resistant Yarn Patent
https://www.avient.com/investor-center/news/avient-announces-debt-financing-fund-acquisition-dsm-protective-materials
including the Dyneema® brand) ("Dyneema"), which is expected to close on
In conjunction with the notes offering, the company also priced a secured term loan due 2029 (the "term loan") for the remaining funds needed for the Dyneema acquisition.
The company noted the all-in weighted average annual interest rate for the Dyneema acquisition financing is approximately 6.6%.
https://www.avient.com/sites/default/files/2022-12/Cesa Fiber Additives Chain Extenders for Recycled PET Fibers Product Bulletin.pdf
Cesa™ Fiber Additives
Chain Extenders for Recycled PET Fibers
In an effort to contribute to the circular economy,
the use of recycled content in textile products is
growing.
The Cesa™ Fiber Additives portfolio includes chain
extenders specially formulated to help recouple
depolymerized polymer chains and support a more
stable processing of recycled flakes into fibers.
APPLICATIONS
Avient’s chain extenders for fibers can be used to
boost the processing of recycled polyester for a
variety of textile products, including:
• Clothing and sportswear
• Bags and backpacks
• Home textiles and upholstery
• Automotive textiles and insulation/heat
management systems
• Carpets and rugs
WORKING PRINCIPLE
As opposed to standard chain extenders, which
usually branch the PET molecules, Avient’s chain
extenders for recycled PET fibers extend the
molecules in a linear way, which is more adapted
to the reprocessing into fibers.
https://www.avient.com/sites/default/files/2023-03/AVNT Q2 2022 Earnings Presentation - Website Version.pdf
We also reference “pro forma” financial metrics, which include the results of the proposed Dyneema Business acquisition and the potential sale of the Distribution business.
EPS (ex Amort) 3.96$ 0.13$ 4.09$ (0.58)$ 3.51$
Pro Forma Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.6x 3.4x 2.8x
Forecast Dyneema
Forecast +
Dyneema
Sale of
Distribution
Pro Forma
2022
TWO-YEAR LEVER AGE MODEL
16
3.5x
2.7x
1.6x
2.8x
2.4x
2.0x
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)
OUR SPEC IA LTY JOURNEY C ONTINUES
17
• Dyneema® brings leading technology and brand with
the World’s Strongest Fiber™, deep history of
application development and strong
management team focused on specialty
applications
• Dyneema® transaction is aligned with our previously
stated acquisition goal of expanding our composites
and fiber capabilities
• Similar to our other technology expansion
acquisitions, Dyneema® allows us to leverage our
invest-to-grow strategy
• The possible sale of our Distribution business also
presents potential benefits with respect to leverage
and EBITDA margins
7%
46%
66%
86%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2021 2022 PF
%
o
f A
d
ju
st
e
d
E
B
IT
D
A
(1
)
JVs Distribution Performance Products & Solutions Specialty
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution
(2)
Healthcare
4%
Packaging
8%
Consumer
10%
Building &
Construction
43%
Industrial
15%
Transportation
14%
Energy
4%
Telecom.
2%
2006 2022 Pro forma
Healthcare
8%
Packaging
23%
Consumer
21%
Building &
Construction
10%
Industrial
15%
Transportation
9%
Energy
4%
Telecom.
4%
Defense
6%
END MAR KET TR ANSF OR MATION TO LESS
CYCLI CAL INDUSTRI ES
( W I T H D Y N E E M A , E X .
Continued supply chain challenges
persisted during Q2 related to raw
material spot purchases, freight
constraints and productivity loss as a
result of these shortages.
https://www.avient.com/sites/default/files/2023-01/AVNT Dec 2022 Earnings Presentation.pdf
We partner with Brand Owners / OEMs, processors and
assemblers to enable their goals in applications like packaging,
healthcare, consumer goods, transportation, wire & cable,
building & construction and textiles.
O P S )
21
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 )
22
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
23
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.
Ops Pro Forma
Adjusted EPS
(in millions) (in millions)
25
SUMMARY
• Executed the plans we laid out earlier this year
• Completed the Dyneema acquisition and Distribution divestiture
amid challenging market conditions
• Paid down debt and expect to finish the year modestly levered at
3.1x net debt to 2022 pro forma adjusted EBITDA
• Expect $200 million of free cash flow in 2022
• Entering an economic slowdown with a portfolio that is better
positioned than ever before
• Updated our EPS guidance to $2.60 from continuing operations
APPENDIX
Performance
Additives
15%
Pigments
13%
TiO2
11%
Dyestuffs
3%Polyethylene
12%
Nylon
6%
Polypropylene
5%
Other Raw
Materials
30%
Styrenic Block
Copolymer
5%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
27
• From Q2 to Q3, we have seen a 7-10%
sequential decline in certain
hydrocarbon-based raw materials
• Other raw materials such as
performance additives and pigments
have shown moderate inflation
sequentially from Q2 to Q3
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Avient Protective Materials
SEGMENT DATA
U.S. & Canada
40%
EMEA
35%
Asia
20%
Latin America
5%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
21%
Packaging
23%
Industrial
15%
Building and
Construction
10%
Telecommunications
4%
Energy
4%
Defense
6%
END MARKET REVENUE
(1) Total company adjusted EBITDA of $585M includes corporate costs.