https://www.avient.com/news/polyone-launches-natural-fiber-reinforced-solutions-brilliant-colors
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PolyOne Launches Natural Fiber Reinforced Solutions in Brilliant Colors
FRIEDRICHSHAFEN, Germany – October 13, 2015 – PolyOne is unveiling new bold color and extrusion options within the reSound™ Natural Fiber Reinforced Composites portfolio this week at the 30th annual Fakuma International Trade Fair, a global plastics industry exhibition.
Introduced this year in March, reSound NF composites feature an engineered natural fiber reinforcement.
https://www.avient.com/investor-center/news/avient-announces-fourth-quarter-and-full-year-2020-results-and-provides-guidance-2021
Pro Forma
performance in prior periods without the effect of items that, by their nature, tend to obscure
performance in prior periods without the effect of items that, by their nature, tend to obscure
https://www.avient.com/sites/default/files/2024-10/Avient_CodeConduct_2024_CZ2.pdf
Horká linka pro etiku je dostupná globálně pro webové nebo telefonické
podání hlášení.
Na vyhledávacím panelu zadejte „horká linka pro etiku“.
Zajištění bezpečnosti pro každého vyžaduje trvalý smysl pro všímavost
a pozornost detailům.
https://www.avient.com/sites/default/files/2023-07/Avient_CodeConduct_2023_Czech.pdf
Zajištění bezpečnosti pro každého vyžaduje trvalý
smysl pro všímavost a pozornost detailům.
Horká linka pro etiku:
https://www.Avient.com/company/policies-and-governance/ethics-hotline
Telefonní číslo na horkou linku pro etiku:
1-877-228-5410
https://www.Avient.com/company/policies-and-governance/ethics-hotline
Severní Amerika
Globální centrála Avon Lake,
Spojené státy
33587 Walker Road Avon Lake,
OH, Spojené státy 44012
Bezplatná linka: +1-866-765-9663
Telefon: +1-440-930-1000
Fax: +440 930 3064
Asie a Tichomoří
Regionální centrála Šanghaj,
Čína
2F, Blok C 200 Jinsu Road
Pudong, 201206 Šanghaj, Čína
Telefonní číslo:
+86 (0) 21 6028 4888
Fax: +86 (0) 21 6028 4999
Jižní Amerika
Regionální centrála Sao Paulo,
Brazílie
Av.
Francisco Nakasato, 1700
13295-000 Itrevea Sao Paulo,
Brazílie
Telefonní číslo: +55 11 4593 9200
Evropa
Regionální centrála Pommer-
loch, Lucembursko
19 Route de Bastogne Pommer-
loch, Lucembursko, L-9638
Telefonní číslo: +352 269 050 35
Fax: +352 269 050 45
www.avient.com
http://www.avient.com
https://www.avient.com/resources/safety-data-sheets?page=4373
STAN-TONE HCC-35933 PRO CHERRY
STAN-TONE HCC-35938 PRO MTN BERRY
STAN-TONE HCC-35941 PRO CLAY
https://www.avient.com/sites/default/files/2022-08/Humotech Robotic Prosthetic Case Study.pdf
Working together, the Caplex robotic
system and the PRO-002 prosthetic foot will predict the
patient’s long-term preference for a particular model.
THE SOLUTION
In the development of the Caplex PRO-002, Humotech
sought a material solution that would provide high
torque, flexibility, and durability for key components of
the foot.
THE IMPACT
The high energy storage characteristics of Gordon
Composites thermoset springs provide Humotech’s
prosthetic foot a natural flex, responding similarly to
human calf muscles with the roll and rebound required
for the patient to achieve a natural gait.
https://www.avient.com/resources/safety-data-sheets?page=4439
STAN-TONE HCC-36030 PRO MTN BERRY
STAN-TONE HCC-36033 PRO CLAY
STAN-TONE HCC-36035 PRO SANDSTONE
https://www.avient.com/sites/default/files/2021-04/avnt-first-quarter-2021-news-release.pdf
Pro Forma
The Company acquired the Clariant Masterbatch business (“CMB”) on July 1, 2020 (the
“Acquisition Date”).
Senior management believes these measures are useful to
investors because they allow for comparison to Avient's performance in prior periods without the effect of items that, by their
nature, tend to obscure Avient's operating results due to the potential variability across periods based on timing, frequency and
magnitude.
Senior management believes these measures are useful to investors because they allow for comparison to
Avient's performance in prior periods without the effect of items that, by their nature, tend to obscure Avient's operating results
due to the potential variability across periods based on timing, frequency and magnitude.
https://www.avient.com/sites/default/files/2022-09/Avient Pro Forma Financial Information.pdf
Pro Forma Financial Information
The Company acquired Avient Protective Materials (“Dyneema”) on September 1, 2022 (the “Acquisition Date”) and has a pending sale of the Distribution segment.
To provide comparable results, the company references “pro forma” financial metrics,
which include the business results of Avient Protective Materials for periods prior to the Acquisition Date, as if the transaction occurred on January 1, 2021 and reflect Distribution as a discontinued operation.
Additionally, Adjusted EPS excludes the impact of special
items and amortization expense associated with intangible assets.
2
PRO FORMA 2021 TO 2022 BRIDGE
3
2021 EPS from Continuing Operations 1.69$
Pro Forma & Special Items 1.33
Proforma 2021 Adjusted EPS 3.02$
FX Impact (0.22)
China Lockdowns / Russia Import Sales (0.24)
Outdoor High Performance (0.13)
Dyneema 0.06
Color, Additives and Inks 0.38
Legacy Specialty Engineered Materials 0.22
Other 0.01
Proforma 2022 Adjusted EPS 3.10$
Constant Currency Sales
Sales
COLOR, ADDITIVES AND INKS
Q1 Q2 Q3 Q4 FY
4%
Q1 Q2 Q3 Q4 FY
4%
7% (4%) (9%)
6% (10%)
0% 1%
2%
Constant currency reflects prior year results restated at current year foreign exchange rates
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY
7%
10% 4% (3%)
12% (6%)
5% 6%
9%
610 650 624 649 587 565 581 526
2,402 2,390
589 650 589 649 543 565 545 526
2,266 2,390
116 121 112 119 93 95 88 79
409 414
113 121 106 119 87 95 84 79
390 414
Constant Currency EBITDA
EBITDA
10%
4
Constant Currency EBITDA
Sales
Q1 Q2 Q3 Q4 FY
(1%)
PRO FORMA SPECIALTY ENGINEERED MATERIALS
Q1 Q2 Q3 Q4 FY
16%8% (8%) (8%)
3% (6%) (6%)
(2%) 2%
EBITDA
Constant Currency Sales
Constant currency reflects prior year results restated at current year foreign exchange rates
Q1 Q2 Q3 Q4 FY
4%
Q1 Q2 Q3 Q4 FY
20%12% (1%) (2%)
5% (1%) (2%)
3% 6%
314 338 348 343 325 300 321 295
1,308 1,276
303 338 329 343 303 300 301 295
1,236 1,276
67 78 75 77 70 66 66 62
278 283
65 78 73 77 67 66 63 62
268 283
5
Constant Currency Adjusted EPS
Adjusted EPS
PRO FORMA AVIENT
Q1 Q2 Q3 Q4 FY
10% (3%) (21%)
3%
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY
9% 5%
7% (5%) (9%)
(1%)
(1%) (12%)
1%
Sales
Constant Currency Sales
Constant currency reflects prior year results restated at current year foreign exchange rates
Q1 Q2 Q3 Q4 FY
17% 8% (14%)
11%
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY
14% 10%
11% 2% (3%)
5%
8% (5%)
7%
EBITDA
Constant Currency EBITDA
925 987 973 992 912 867 902 823
3,712 3,669
893 987 919 992 847 867 845 823
3,504 3,669
161 176 164 172 142 141 133 117
600 606
155 176 157 172 131 141 123 117
566 6068%
2%
0.84 0.98 0.87 0.96 0.70 0.68 0.61 0.48
3.02 3.10
0.79 0.98 0.82 0.96 0.63 0.68 0.56 0.48
2.80 3.10
17%
24%
6
Three Months Ended
March 31, 2022
Three Months Ended
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS
Net income from continuing operations $ 64.7 $ 60.4
Net income attributable to noncontrolling interests (0.3) (0.4)
Net income from continuing operations attributable to Avient shareholders $ 64.4 $ 0.70 $ 60.0 $ 0.65
Special items, after tax $ 6.4 $ 0.07 $ 2.6 $ 0.03
APM pro forma adjustments 2.6 0.03 (3.1) (0.03)
Amortization expense, after tax 17.4 0.19 17.9 0.19
Adjusted pro forma net income / EPS $ 90.8 $ 0.98 $ 77.4 $ 0.84
Weighted average diluted shares 92.3 92.2
Three Months Ended
June 30, 2022
Three Months Ended
June 30, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS
Net income from continuing operations $ 62.8 $ 50.2
Net income attributable to noncontrolling interests — (0.6)
Net income from continuing operations attributable to Avient shareholders $ 62.8 $ 0.68 $ 49.6 $ 0.54
Special items, after tax $ 3.2 $ 0.03 $ 11.7 $ 0.13
APM pro forma adjustments 5.2 0.06 1.4 0.02
Amortization expense, after tax 17.2 0.19 17.8 0.19
Adjusted pro forma net income / EPS $ 88.4 $ 0.96 $ 80.5 $ 0.87
Weighted average diluted shares 92.1 92.4
Three Months Ended
September 30, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS
Net income from continuing operations $ 33.4
Net income attributable to noncontrolling interests 0.3
Net income from continuing operations attributable to Avient shareholders $ 33.7 $ 0.37
Special items, after tax $ 11.7 $ 0.13
APM pro forma adjustments 1.5 0.02
Amortization expense, after tax 17.6 0.19
Adjusted pro forma net income / EPS $ 64.5 $ 0.70
Weighted average diluted shares 92.2
Adjusted EPS may not recalculate due to rounding.
1
Three Months Ended
December 31, 2021
Year Ended
December 31, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS
Net income from continuing operations $ 11.2 $ 155.2
Net income attributable to noncontrolling interests 0.9 0.2
Net income from continuing operations attributable to Avient shareholders $ 12.1 $ 0.13 $ 155.4 $ 1.69
Special items, after tax $ 24.0 $ 0.26 $ 50.0 $ 0.54
APM pro forma adjustments 2.5 0.03 1.6 0.02
Amortization expense, after tax 17.8 0.19 71.1 0.77
Adjusted pro forma net income / EPS $ 56.4 $ 0.61 $ 278.1 $ 3.02
Weighted average diluted shares 92.4 92.1
Reconciliation of Color, Additives and Inks EBITDA
Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022
Operating
Income 88.8 86.3 66.8 61.2 303.1 94.5 93.6
Depreciation and
amortization 27.4 25.3 26.6 26.4 105.7 26.0 25.9
EBITDA $ 116.2 $ 111.6 $ 93.4 $ 87.6 $ 408.8 $ 120.5 $ 119.5
Reconciliation of Specialty Engineered Materials EBITDA
Q1 2021 Q2 2021 Q3 2021
SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM
Operating Income 32.6 9.1 41.7 35.8 13.9 49.7 30.0 15.2 45.2
Depreciation and
amortization 7.8 17.5 25.3 8.1 17.3 25.4 7.9 17.1 25.0
EBITDA $ 40.4 $ 26.6 $ 67.0 $ 43.9 $ 31.2 $ 75.1 $ 37.9 $ 32.3 $ 70.2
Reconciliation of Specialty Engineered Materials EBITDA
Q4 2021 YTD 2021
SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM
Operating Income 27.1 11.7 38.8 125.5 49.9 175.4
Depreciation and amortization 8.0 18.9 26.9 31.8 70.8 102.6
EBITDA $ 35.1 $ 30.6 $ 65.7 $ 157.3 $ 120.7 $ 278.0
2
Reconciliation of Specialty Engineered Materials EBITDA
Q1 2022 Q2 2022
SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM
Operating Income 38.3 15.4 53.7 35.2 17.7 52.9
Depreciation and amortization 7.8 16.6 24.4 7.7 16.6 24.3
EBITDA $ 46.1 $ 32.0 $ 78.1 $ 42.9 $ 34.3 $ 77.2
Reconciliation of Avient consolidated pro forma EBITDA
Q1 2021 Q2 2021 Q3 2021
Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient
Net income from
continuing operations 60.4 (3.1) 57.3 50.2 1.4 51.6 33.4 1.5 34.9
Income tax expense 16.3 1.1 17.4 13.8 1.3 15.1 2.0 2.5 4.5
Interest expense 19.3 11.1 30.4 19.5 11.2 30.7 19.0 11.2 30.2
Depreciation and
amortization 36.9 17.5 54.4 33.6 17.3 50.9 36.6 17.1 53.7
EBITDA 132.9 26.6 159.5 117.1 31.2 148.3 91.0 32.3 123.3
Special items, before
tax 2.4 — 2.4 14.2 — 14.2 19.9 — 19.9
Depreciation included
in special items (0.6) — (0.6) 1.4 — 1.4 (0.9) — (0.9)
Adjusted EBITDA $ 134.7 $ 26.6 $ 161.3 $ 132.7 $ 31.2 $ 163.9 $ 110.0 $ 32.3 $ 142.3
Reconciliation of Avient consolidated pro forma EBITDA
Q4 2021 YTD 2021
Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient
Net income from continuing operations 11.2 2.5 13.7 155.2 1.6 156.8
Income tax expense 16.2 (1.9) 14.3 48.3 3.7 52.0
Interest expense 17.5 11.1 28.6 75.3 44.6 119.9
Depreciation and amortization 37.9 18.9 56.8 145.0 70.8 215.8
EBITDA 82.8 30.6 113.4 423.8 120.7 544.5
Special items, before tax 20.6 — 20.6 57.1 — 57.1
Depreciation included in special items (1.6) — (1.6) (1.7) — (1.7)
Adjusted EBITDA $ 101.8 $ 30.6 $ 132.4 $ 479.2 $ 120.7 $ 599.9
3
Reconciliation of Avient consolidated pro forma EBITDA
Q1 2022 Q2 2022
Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient
Net income from continuing operations 64.7 2.6 67.3 62.8 5.2 68.0
Income tax expense 20.0 1.7 21.7 22.7 1.4 24.1
Interest expense 16.9 11.1 28.0 16.2 11.1 27.3
Depreciation and amortization 37.6 16.6 54.2 36.3 16.6 52.9
EBITDA 139.2 32.0 171.2 138.0 34.3 172.3
Special items, before tax 6.6 — 6.6 0.9 — 0.9
Depreciation included in special items (2.1) — (2.1) (1.1) — (1.1)
Adjusted EBITDA $ 143.7 $ 32.0 $ 175.7 $ 137.8 $ 34.3 $ 172.1
Reconciliation of Specialty Engineered Pro Forma Sales
Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022
Sales 214.7 238.9 231.7 226.3 911.6 243.1 242.3
Pro forma APM 98.9 108.8 93.8 94.9 396.4 94.8 100.5
Pro forma sales $ 313.6 $ 347.7 $ 325.5 $ 321.2 $ 1,308.0 $ 337.9 $ 342.8
Reconciliation of Avient Pro Forma Sales
Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022
Sales 826.0 864.5 818.0 807.1 3,315.6 892.2 891.0
Pro forma APM 98.9 108.8 93.8 94.9 396.4 94.8 100.5
Pro forma sales $ 924.9 $ 973.3 $ 911.8 $ 902.0 $ 3,712.0 $ 987.0 $ 991.5
4
IR Slides
V17 - 9.26 324pm IR Deck - AVNT-2022.09.27 Pre Release v2
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
Comparisons to prior year fourth quarter and full year financial results herein are presented on a pro
forma basis such that the prior periods include the business results of APM.
Refer to
Attachment 7 Reconciliation of Non-GAAP Financial Measures for details regarding adjustments to
previously reported results to arrive to the pro forma financial metrics.
See
Attachment 3 for a definition and summary of special items and Attachment 7 for a summary of pro forma adjustments associated
with the APM Acquisition.