https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Presentation.pdf
Microsoft PowerPoint - AVNT Q4 2022 Earnings Presentation
AVIENT CORPORATION
F O U R T H Q U A R T E R 2 0 2 2 R E S U L T S A N D
2 0 2 3 F I N A N C I A L G U I D A N C E
(NYSE: AVNT)
F E B R U A R Y 1 5 , 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.
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.2
Q4 2022 VS.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
29
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
10.0
15.6
13.9 13.7
12.8
9.5
18.0 17.5
12.3
10.2
9.7
8.8 8.4
5.9
A
vi
e
n
t
(2
0
1
1
)
A
vi
e
n
t
(2
0
1
8
)
A
vi
e
n
t
K
W
R
P
P
G
R
P
M
A
V
Y
F
U
L
H
X
L
E
C
L
F
M
C
A
S
H
S
C
L
H
U
N
E
M
N
C
E
SEGMENT DATA
U.S. & Canada
40%
EMEA
37%
Asia
18%
Latin America
5%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
20%
Packaging
24%
Industrial
15%
Building and
Construction
10%
Telecommunications
4%
Energy
4%
Defense
6%
END MARKET REVENUE
(1) Total company adjusted EBITDA of $592M includes corporate costs
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
Transportation
9%
Healthcare
8%
31
C O L O R , A D D I T I V E S & I N K S
2 0 2 2 R E V E N U E | $ 2 . 4 B I L L I O N
US & Canada
34%
EMEA
38%
Asia
20%
Latin America
8%
END MARKET REGION
32
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
15%
Transportation
8%
Building &
Construction
11%
Telecommunications
1% Energy
2%
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
2 0 2 2 P R O F O R M A R E V E N U E | $ 1 . 3 B I L L I O N
END MARKET
US & Canada
52%
EMEA
35%
Asia
13%
REGION
33
Packaging
5%
Consumer
19%
Healthcare
8%Industrial
16%
Transportation
10%
Telecommunications
10%
Energy
9%
Defense
15%
Building &
Construction
8%
Packaging
32%
Consumer
27%
Healthcare
8%
Industrial
14%
Building &
Construction
5%
Telecommunications
3%
Energy
1% Defense
1%
Asia
(18% of sales)
Transportation
9%
2 0 2 2 P R O F O R M A AV I E N T R E G I O N A L S A L E S
B Y E N D M A R K E T
Packaging
27%
Consumer
14%
Healthcare
5%
Industrial
17%
Building &
Construction
10%
Energy
5%
Defense
8%
EMEA
(37% of sales)Transportation
11%
Packaging
13%
Consumer
24%
Healthcare
12%
Industrial
15%
Building &
Construction
13%
Energy
5%
Defense
5%
US &
Canada
(40% of sales)
Transportation
7%
Packaging
56%
Consumer
23%
Healthcare
4%
Industrial
7%
Building &
Construction
4%
Telecommunications
1%
LATAM
(5% of sales)
Transportation
5%
Telecommunications
3%
Telecommunications
6%
34
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/sites/default/files/2020-12/artisan-thermoplastics-nylon-processing-guide.pdf
Many different types of gates can be used such as pin, fan, tunnel,
tab and edge gates
2.
Full-round runners or modified trapezoid runners are the best designs
2.
Place vents at the end of fill and anywhere potential knit/weld lines will occur
2.
https://www.avient.com/sites/default/files/2023-10/2023 Hammerhead Application _ Install Guide.pdf
Example: Deflection for 24 inch panel = Chart value *[12 / 24]
Performance Comparison
Hammerhead Panels and Marine Plywood
TAB TESTING OF VARIOUS INSTALLATION METHODS
Hammerhead™
PETG Laminate
Hammerhead™
PETG Laminate
BOTTOM PANEL LEGLENGTH
BREAK
STRENGTH
PETG Skins with
Plywood Core
1 in/25 mm
1.5 in/38 mm
2 in/51 mm
2400 lbs/1089 kg
2820 lbs/1279 kg
2748 lbs/1246 kg
Hammerhead with
5 lb/ft3 (80 kg/m3)
Core Density
2 in
51 mm
665 lbs
302 kg
Hammerhead with
7 lb/ft3 (115 kg/m3)
Core Density
2 in
51 mm
881 lbs
400 kg
Hammerhead with
8 lb/ft3 (135 kg/m3)
Core Density
2 in
51 mm
1084 lbs
492 kg
Marine Plywood
2 in
51 mm
770 lbs
349 kg
Glass/Epoxy with
Plywood Core
2 in
51 mm
1055 lbs
479 kg
Glass/Polyester
with Balsa Core
2 in
51 mm
919 lbs
417 kg
L-Bracket Installation
Hammerhead™
PETG Laminate
Hammerhead™
PETG Laminate
BOTTOM PANEL LEGLENGTH
BREAK
STRENGTH
PETG Skins with
Plywood Core
2 in
51 mm
2375 lbs
1077 kg
Marine Plywood
2 in
51 mm
770 lbs
349 kg
Glass/Polyester with
Balsa Core
2 in
51 mm
797 lbs
362 kg
U-Channel Installation
ITW Plexus MA420
adhesive was used in all
tab testing installations
except where noted.
G
LA
SS
/E
P
O
XY
T
AB
M
AT
ER
IA
L
N
O
T
AB
BOTTOM PANEL
LEG
LENGTH
BREAK
STRENGTH
Hammerhead with
5 lb/ft3 (80 kg/m3)
Core Density
2 in
51 mm
420 lbs
191 kg
Hammerhead with
7 lb/ft3 (115 kg/m3)
Core Density
2 in
51 mm
370 lbs
168 kg
Hammerhead with
8 lb/ft3 (135 kg/m3)
Core Density
2 in
51 mm
332 lbs
151 kg
Marine Plywood
2 in
51 mm
984 lbs
446 kg
Glass/Polyester
with Balsa Core
2 in
51 mm
1298 lbs
589 kg
Hammerhead with
5 lb/ft3 (80 kg/m3)
Core Density -
ITW Plexus
MA420 Adhesive
NA
501 lbs
227 kg
Hammerhead with
7 lb/ft3 (115 kg/m3)
Core Density -
ITW Plexus MA420
Adhesive
NA
839 lbs
381 kg
Hammerhead with
8 lb/ft3 (135 kg/m3)
Core Density -
ITW Plexus
MA420 Adhesive
NA
1156 lbs
524 kg
Hammerhead with
8 lb/ft3 (135 kg/m3)
Core Density -
Crestomer
1152PA Adhesive
NA
1530 lbs
694 kg
Hammerhead with
8 lb/in3 (135 kg/m3)
Core Density -
Crestomer
M1-30 Adhesive
NA
1471 lbs
667 kg
Mixed Conditions
ADHESIVE
DESCRIPTION
ADHESIVE
GRADE
MANUFACTURER
AVERAGE
BOND
STRENGTH
STANDARD
DEVIATION
FAILURE
MODE
BEST ADHESION
2k Urethane 75421 Lord
2281 psi
15.73 MPa
184 psi
1.27 MPa
Substrate
Cohesive
2k Acrylic SA1-705 GRY1 AccraLock
2211 psi
15.24 MPa
78 psi
0.54 MPa
Substrate
2k Acrylic Plexus MA420 ITW
2171 psi
14.97 MPa
262 psi
1.81 MPa
Substrate
2k Acrylic SA10-05 Blk1 AccraLock
2102 psi
14.49 MPa
138 psi
0.95 MPa
Substrate
2k Urethane 75451 Lord
2047 psi
14.11 MPa
68 psi
0.47 MPa
Cohesive
2k Acrylic SA1-705 GRY 1:2 AccraLock
1966 psi
13.56 MPa
68 psi
0.47 MPa
Substrate
2k Acrylic Scotchweld 8010 3M
1907 psi
13.15 MPa
61 psi
0.42 MPa
Adhesive
Cyanoacrylate Gorilla Glue Gorilla Glue
1885 psi
13.00 MPa
432 psi
2.98 MPa
Cohesive
2k Acrylic Crestabond PP-04 Scott Bader
1873 psi
12.91 MPa
281 psi
1.94 MPa
Substrate
2k Acrylic SA10-05 Blk 10:2 AccraLock
1779 psi
12.27 MPa
127 psi
0.88 MPa
Cohesive
2k Urethane 75422 Lord
1716 psi
11.83 MPa
190 psi
1.31 MPa
Cohesive
Adhesive
2k Urethane 75452 Lord
1535 psi
10.58 MPa
98 psi
0.68 MPa
Adhesive
2k Methacrylate Polyfuse
Icon
Containment
1610 psi
11.10 MPa
98 psi
0.68 MPa
Adhesive
INTERMEDIATE ADHESION
2k Acrylic
FA10-05 Blk
C010817
AccraLock
724 psi
4.99 MPa
58 psi
0.40 MPa
Cohesive
2k Acrylic FA10-05 Blk1 AccraLock
722 psi
4.98 MPa
44 psi
0.30 MPa
Cohesive
2k Epoxy
Loctite Epoxy
Instant Mix
Loctite
508 psi
3.50 MPa
81 psi
0.56 MPa
Adhesive
2k Epoxy Gorilla Glue Epoxy Gorilla Glue
341 psi
2.35 MPa
198 psi
1.37 MPa
Adhesive
NOT RECOMMENDED
2k Epoxy
Loctite Epoxy
Marine
Loctite 0 0 No bond
ADHESIVE SELECTION
Brands identified are owned by the manufacturers of the adhesive products.
1 surface sanded with 220 grit scuff prep 2 surface primed with 459T
FASTENER TYPE BENEFITS CONSIDERATIONS
Through-Bolting
Best mechanical
locking system
Need back side
access to panel
Screw-In Anchor
Highest pullout
strength
Requires pilot hole
Cup Washer
Spreads
compressive load
Requires relief hole;
For substructure and
hard point attachment
Wide Grip
(Bulb-Style)
Rivet
Ease of use—no
installation torque
limitations
For lower
load attachments
Sheet Metal or
Wood Screw
Readily available,
low cost
Penetrate both skins
for improved pullout
Shoulder Washer
Limits
compressive load
Requires relief hole;
For substructure and
hard point attachment
For more information on installation, adhesives, and fasteners
for specific applications, please contact Avient.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520Sidoti%2520wNonGAAP%2520Rec.pdf
Page 2
Use of Non GAAP Measures
• This presentation includes the use of both GAAP (generally accepted accounting
principles) and non‐GAAP financial measures.
EPS: $2.50
Assumptions
• High single digit organic
revenue CAGR
• Operating margins in mid range
of 2015 targets
• No global recession• No global recession
• No investment in incremental
PP&S capacity
• Completion of 2‐3 midsize
accretive acquisitions
• No divestitures
• Housing starts at 85% of 50 year
norm by 2015
R i f t bl b l 3X N t
2012
$ • Remain comfortably below 3X Net
Debt / EBITDA
Page 13
Rev: $3.0B
Adj.
EPS: $1.20
Proforma Debt Maturities & Liquidity Summary – 12/31/12
(Reflecting Financing & Spartech Acquisition)
• Total Debt at 12/31/12
h
$1,010
$297
$360 $300
$400
Debt Maturities
As of December 31, 2012
($ millions)
Less: Cash
Net Debt
213
$797
$50
$297
$100
$200
• Available Liquidity
Cash $213
$800 Debt Maturities
As of December 31, 2012
P f f 2/13 Fi i
$50
$0
2015 2017 2020
Interest Rates: 7.500% 5.000% 7.375%
Cash
ABL Availability
Total Liquidity
$213
271
$484
$600
$400
$600
Proforma for 2/13 Financing
($ millions)
Total Liquidity
• Net Debt / EBITDA = 2.0x*
$484
$50
$360
$0
$200
• Net Debt / EBITDA = 2.35x**
$50$0
2015 2020 2023
Page 14
Interest Rates: 7.500% 7.375% 5.250%
*Assumes $65 million of synergies related to Spartech acquistion
**Assumes no synergies related to Spartech acquistion
Use of Cash
Share DividendsOrganic G Acquisitions
• Repurchased 1 2
Repurchase
• Introduced a
Dividends
• Expanding our
Growth
T t th t d
Acquisitions
• Repurchased 1.2
million shares in
2012
• 20.0 million
shares are
il bl f
• Introduced a
quarterly dividend
in Q1 2011 and
increased in Q1
2012 (25%) and
Q1 2013 (20%)
• Expanding our
sales, marketing,
and technical
capabilities is top
priority
• Investing in
• Targets that expand our:
• Specialty offering
• End market presence
• Geographic footprint
available for
repurchase under
the current
authorization
Q1 2013 (20%)
• Objective of
maintaining and
growing
Investing in
operational and
LSS initiatives
(including synergy
capture)
• CAPEX
• Synergy opportunities
• Adjacent material solutions
Proforma Cash Balance = $213M
N t D bt / EBITDA* 2 0X
CAPEX
Net Debt / EBITDA* = 2.0X
*Adjusted EBITDA assumes synergies related to the Spartech acquisition are realized at close; preliminary synergies estimated at $65M and are expected to be achieved over a 3-year period
Page 15
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2023-03/AVNT Q2 2022 Earnings Presentation - Website Version.pdf
Microsoft PowerPoint - AVNT Q2 2022 Earnings Presentation
AVIENT CORPORATION
S E C O N D Q U A R T E R 2 0 2 2 R E S U L T S
(NYSE: AVNT)
J U L Y 2 6 , 2 0 2 2
D I S C L A I M E R
2
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
EPS (ex Amort) 3.96$ 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 .
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Distribution business
SEGMENT DATA
U.S. & Canada
50%
EMEA
25%
Asia
16%
Latin America
9%
2021 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
23%
Packaging
19%
Industrial
16%
Building and
Construction
10%
Telecommunications
4%
Energy
2%
END MARKET REVENUE
(1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs
$2,402M
$409M
$919M
$164M
$1,631M
$94M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$581M$4,819M
(1)
Transportation
11%
Healthcare
15%
24
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
16%
Building &
Construction
10%
Transportation
9%
Energy
1% Telecommunications
1%
C O L O R , A D D I T I V E S & I N K S
2 0 2 1 R E V E N U E | $ 2 . 4 B I L L I O N
US & Canada
32%
EMEA
40%
Asia
21%
Latin America
7%
END MARKET REGION
25
All charts reflect 2021 financials
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
Consumer
27%
Healthcare
10%
Packaging
7%
Telecommunications
16%
Transportation
11%
Industrial
11%
Building &
Construction
11%
Energy
7%
2 0 2 1 R E V E N U E | $ 9 1 9 M I L L I O N
END MARKET
US & Canada
55%
EMEA
25%
Asia
20%
REGION
26
All charts reflect 2021 financials
D I S T R I B U T I O N
Healthcare
26%
Consumer
23%
Packaging
5%
Industrial
20%
Transportation
16%
Building and
Construction
8%
Energy
1%
Telecommunications
1%
US & Canada
80%
Asia
3%
Latin
America
17%
END MARKET REGION
K E Y S U P P L I E R S
2 0 2 1 R E V E N U E | $ 1 . 6 B I L L I O N
27
All charts reflect 2021 financials
T O T A L C O M P A N Y R E G I O N A L S A L E S
B Y E N D M A R K E T
Packaging
30%
Consumer
26%Healthcare
13%
Industrial
14%
Building &
Construction
5%
Telecommunications
2% Energy
2%
Asia
(16% of sales)
Transportation
8%
Packaging
32%
Consumer
13%
Healthcare
5%
Industrial
17%
Building &
Construction
12%
Telecommunications
5%
Energy
4%
EMEA
(25% of sales)
Transportation
12%
28
Consumer
25%
Healthcare
19%
Packaging
10%
Industrial
17%
Building &
Construction
10%
Telecommunications
4%
Energy
2%
US &
Canada
(50% of sales)
Transportation
13%
Packaging
38%
Consumer
33%
Healthcare
8%
Industrial
10%
Building &
Construction
5%
Telecommunications
1%
LATAM
(9% of sales)
Transportation
5%
All charts reflect 2021 financials
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/sites/default/files/2021-04/avient-colorants-germany-gmbh-cr-extract-30-april-2021.pdf
a)
Gesellschaft mit beschränkter Haftung
Gesellschaftsvertrag vom 26.03.2012
a)
14.05.2012
Merz
b)
Fall 1
2 b)
Nicht mehr
Geschäftsführer:
de Wall, Udo, Mainz, *12.11.1963
Bestellt als
Geschäftsführer:
Dr.
a)
10.07.2015
Zentgraf
b)
Fall 2
3 b) a)
Abruf vom 30.04.2021 17:24
Handelsregister B des Amtsgerichts Frankfurt am Main Ausdruck Nummer der Firma:
Seite 2 von 7
HRB 93737
Nummer
der
Eintragung
a) Firma
b) Sitz, Niederlassung, inländische
Geschäftsanschrift, empfangsberechtigte
Person, Zweigniederlassungen
c) Gegenstand des Unternehmens
Grund- oder
Stammkapital
a) Allgemeine Vertretungsregelung
b) Vorstand, Leitungsorgan, geschäftsführende
Direktoren, persönlich haftende Gesellschafter,
Geschäftsführer, Vertretungsberechtigte und
besondere Vertretungsbefugnis
Prokura a) Rechtsform, Beginn, Satzung oder Gesellschaftsvertrag
b) Sonstige Rechtsverhältnisse
a) Tag der Eintragung
b) Bemerkungen
1 2 3 4 5 6 7
Nicht mehr
Geschäftsführer:
Dr.
a)
Die Gesellschafterversammlung vom 28.06.2019 hat die
Neufassung des Gesellschaftsvertrages, insbesondere die
Änderung in den §§ 1.1 (Firma) und 2 (Gegenstand des
Unternehmens) beschlossen.
https://www.avient.com/sites/default/files/2022-06/Malmoe 308840_en_13485_22.pdf
Müller, CEO SQS
41
7
0
_
2
/ J
u
n
e
2
0
19
/ V
er
si
o
n
2
.0
A.
https://www.avient.com/sites/default/files/resources/Ahrensburg_ISO50001.pdf
Müller, CEO SQS
6
67
0
_
2
/ J
u
n
e
2
0
19
/ V
er
si
o
n
2
.0
A.
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
Microsoft PowerPoint - Avient Q1 2021 Earnings - Final (For Print)
AVIENT CORPORATION
F I R S T Q U A R T E R 2 0 2 1 R E S U L T S
(NYSE: AVNT)
A P R I L 3 0 , 2 0 2 1
D I S C L A I M E R
2
Forward-Looking Statements
In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Reduce Scope 1 & 2 greenhouse gas
emissions by 35%.
Whether
an additional line at an existing
manufacturing plant, or a new
facility in a growing region, we
ramp-up quickly and cost-efficiently.
18
Capex / Revenue
2021E (%)
AV I E N T I S A SS E T L I G H T
Avient Specialty
Formulators
Other
Chemical/Specialty
Companies
2 3 2 2 2
3 3
4 3 3 3
4 4 5
5 5 6
7 7
8
24
A
vi
e
n
t
A
vi
e
n
t
(E
xc
l.
https://www.avient.com/sites/default/files/2023-03/AVNT Mar 2023 Earnings Presentation.pdf
Microsoft PowerPoint - AVNT Mar 2023 Earnings Presentation
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
M A R C H 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.
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.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
32
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
10.0
15.6
13.9 13.7
12.8
9.5
18.0 17.5
12.3
10.2
9.7
8.8 8.4
5.9
A
vi
e
n
t
(2
0
1
1
)
A
vi
e
n
t
(2
0
1
8
)
A
vi
e
n
t
K
W
R
P
P
G
R
P
M
A
V
Y
F
U
L
H
X
L
E
C
L
F
M
C
A
S
H
S
C
L
H
U
N
E
M
N
C
E
R A W M AT E R I A L
O V E R V I E W
34
RAW MATERIAL 2022 ANNUAL PURCHASES
Performance
Additives
16%
Pigments
12%
TiO2
11%
Dyestuffs
2%
Polyethylene
12%
Nylon
6%
Polypropylene
6%
Styrenic Block
Copolymer
5%
Other Raw
Materials
30%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
Excludes Avient Protective Materials
SEGMENT DATA
U.S. & Canada
40%
EMEA
37%
Asia
18%
Latin America
5%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
20%
Packaging
24%
Industrial
15%
Building and
Construction
10%
Telecommunications
4%
Energy
4%
Defense
6%
END MARKET REVENUE
(1) Total company adjusted EBITDA of $592M includes corporate costs
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
Transportation
9%
Healthcare
8%
36
C O L O R , A D D I T I V E S & I N K S
2 0 2 2 R E V E N U E | $ 2 . 4 B I L L I O N
US & Canada
34%
EMEA
38%
Asia
20%
Latin America
8%
END MARKET REGION
37
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
15%
Transportation
8%
Building &
Construction
11%
Telecommunications
1% Energy
2%
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
2 0 2 2 P R O F O R M A R E V E N U E | $ 1 . 3 B I L L I O N
END MARKET
US & Canada
52%
EMEA
35%
Asia
13%
REGION
38
Packaging
5%
Consumer
19%
Healthcare
8%Industrial
16%
Transportation
10%
Telecommunications
10%
Energy
9%
Defense
15%
Building &
Construction
8%
Packaging
32%
Consumer
27%
Healthcare
8%
Industrial
14%
Building &
Construction
5%
Telecommunications
3%
Energy
1% Defense
1%
Asia
(18% of sales)
Transportation
9%
2 0 2 2 P R O F O R M A AV I E N T R E G I O N A L S A L E S
B Y E N D M A R K E T
Packaging
27%
Consumer
14%
Healthcare
5%
Industrial
17%
Building &
Construction
10%
Energy
5%
Defense
8%
EMEA
(37% of sales)Transportation
11%
Packaging
13%
Consumer
24%
Healthcare
12%
Industrial
15%
Building &
Construction
13%
Energy
5%
Defense
5%
US &
Canada
(40% of sales)
Transportation
7%
Packaging
56%
Consumer
23%
Healthcare
4%
Industrial
7%
Building &
Construction
4%
Telecommunications
1%
LATAM
(5% of sales)
Transportation
5%
Telecommunications
3%
Telecommunications
6%
39