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)
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.
Pötzschke, Jörg, Ransbach-Baumbach,
*13.10.1970
Scherm, Veronika, Frankfurt am Main,
*12.04.1984
a)
27.02.2020
Dittberner
b)
Fall 11
11 a)
Die Gesellschafterversammlung vom 25.02.2020 hat die
Neufassung des Gesellschaftsvertrages beschlossen.
https://www.avient.com/sites/default/files/2021-04/avient-guatemala-testimonio-de-modificacion-apr-15-2021-.pdf
https://www.avient.com/sites/default/files/2020-12/firecon-cpe-a-processing-guide-spanish-1.pdf
TERMOPLÁSTICO CPE-A
FireCon™
RECOMENDACIONES DE PROCESO
Directrices Generales Para La Extrusión
El termoplástico CPE-A FireCon™ es un sistema termoplástico flexible basado en una mezcla de polietileno
clorado diseñado para cables de instrumentación industrial, alimentación y control.
Quitar todas las secciones de calentamiento
de 10–38°C durante el tiempo de inactividad prolongado, los cambios de troquel, etc. o continuar purgando en la medida de lo posible.
EXTRUSOR
Tornillo
Tornillo de regulación de rosca profunda de 1" a 6"
Relación de compresión 3:1
Cabezal
De tubo: sin hilera (para tamaños pequeños)
De presión: para tamaños de 1" o superiores
Dado
De tubo: bajo coeficiente de estirado
De presión: hilera corta
L/D 24:1 o superior
Paquete de mallas Malla de 20/40/20
Canal de enfriamiento 50–65°C recomendado
Secador Aire caliente o desecante, 4 horas a 79–85°C
PROCESAMIENTO
Temperatura
Precalentamiento del alambre Ninguno
Zonas de alimentación 143–149°C
Transición 160–171°C
Dosificación 171–176°C
Cabezal/dado 176–185°C
Material fundido 176–185°C
Fusión máxima 199°C
Compuesto de purga HDPE
www.avient.com
Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2023-03/AVNT Mar 2023 Earnings Presentation.pdf
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.
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
https://www.avient.com/sites/default/files/resources/POL%2520CFA%2520IR%2520Presentation%2520w%2520non%2520GAAP%252011%252019%25202013.pdf
** Spartech and Glasforms results for the nine months ended September 30, 2013.
Three Months Ended
‘’’’’September 30,
Platform operating income “””””””2013 2012 (a)
Global Specialty Engineered Materials $ 15.7 $ 13.1
Global Color, Additives and Inks 28.7 18.6
Designed Structures and Solutions 10.9 –
Specialty Platform 55.3 31.7
Performance Products and Solutions 14.3 12.3
PolyOne Distribution 16.6 16.4
Corporate and eliminations (24.6) (16.9)
Operating income $ 61.6 $ 43.5
(a) Adjusted to reflect the resins business as a discontinued operation.
Three Months Ended
September 30, 2013
Three Months Ended
September 30, 2012 (a)
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to PolyOne shareholders $ 23.2 $ 0.24 $ 19.4 $ 0.22
Special items, after tax 10.5 0.11 5.3 0.06
Tax adjustments (b) 1.8 0.01 0.1 -
Adjusted net income / EPS $ 35.5 $ 0.36 $ 24.8 $ 0.28
Three Months Ended
September 30,
Reconciliation to Condensed Consolidated Operating Income 2013 2012 (a)
Operating income before special items $ 72.4 $ 51.8
Special items in operating income (10.8) (8.3)
Operating income, GAAP $ 61.6 $ 43.5
(a) Adjusted to reflect the resins business as a discontinued operation.
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Presentation - Website.pdf
Three Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
Reconciliation to Condensed Consolidated Statements of Income: $ EPS $ EPS
Net income (loss) from continuing operations attributable to Avient
shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30)
Special items, after tax 32.0 0.35 68.3 0.75
Amortization expense, after-tax 15.2 0.16 $ 13.4 $ 0.14
Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59
Three Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022
Sales - GAAP $ 753.7 $ 823.3
Pro Forma APM adjustments — 60.7
Pro forma adjusted sales $ 753.7 $ 884.0
Net income from continuing operations – GAAP $ 5.1 $ (27.8)
Income tax (benefit) expense (0.1) (1.2)
Interest expense, net 30.3 37.3
Depreciation and amortization 46.4 39.8
EBITDA from continuing operations $ 81.7 $ 48.1
Special items, before tax 43.2 82.0
Interest expense included in special items (2.2) (10.0)
Depreciation and amortization included in special items — (0.8)
Adjusted EBITDA $ 122.7 $ 119.3
Pro forma APM adjustments — 17.2
Pro forma adjusted EBITDA $ 122.7 $ 136.5
Pro forma adjusted EBITDA as a % of sales 16.3 % 15.4 %
1
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018
Sales $ 2,622.4 $ 3,533.4
Net income from continuing operations – GAAP $ 133.5 $ 160.8
Income tax expense 29.7 36.4
Interest expense, net 63.1 62.8
Depreciation and amortization 57.1 91.5
EBITDA from continuing operations $ 283.4 $ 351.5
Special items, before tax (34.0) 59.5
Depreciation and amortization included in special items — (3.0)
JV - equity income (107.0) —
Adjusted EBITDA $ 142.4 $ 408.0
Adjusted EBITDA as a % of sales 5.4 % 11.5 %
Reconciliation to EBITDA and Adjusted EBITDA:
Three Months Ended
December 31, 2022
Net loss from continuing operations – GAAP $ (16.6)
Income tax benefit (60.8)
Interest expense, net 49.4
Depreciation and amortization 48.6
EBITDA from continuing operations $ 20.6
Special items, before tax 104.3
Interest expense included in special items (16.0)
Depreciation and amortization included in special items (1.5)
Adjusted EBITDA $ 107.4
Reconciliation of Pro Forma Adjusted Earnings per Share:
Three Months Ended
December 31, 2022
Net loss from continuing operations attributable to Avient
shareholders $ (17.0)
Special items, after tax 38.3
Amortization expense, after-tax 14.6
Adjusted net income from continuing operations excluding special
items 35.9
Pro forma adjustments* 2.5
Pro forma adjusted net income from continuing operations attributable
to Avient shareholders $ 38.4
Weighted average diluted shares 91.7
Pro forma adjusted EPS - excluding special items pro forma for APM
acquisition $ 0.42
* Pro forma adjustment to reflect APM results for the period before Avient ownership including the impacts of debt financing and paydown of
debt with net proceeds from the Distribution sale.
2
AVNT Q3 2023 Earnings Presentation
Avient corporation�Third quarter 2023 results
DISCLAIMER
Slide Number 3
Avient protective materials �First Year
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
Slide Number 9
Slide Number 10
Slide Number 11
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
IR Deck - AVNT-2023.09.30 Non GAAP Recs
Attachment
https://www.avient.com/sites/default/files/2023-03/Cergy-AVIENT LUXEMBOURG-2022-Décret 2021-461 Certfificate.pdf
MAIA+
N° rapport :223-2023-000066-FR 10898066 0.5
jour
Date Début / Fin :04/11/2022 /04/11/2022 PolyOne France - site de Saint Ouen l'Aumône 1 /11
ATTESTATION DE RECONNAISSANCE
Attribué à
PolyOne France - site de Saint Ouen l'Aumône
14 avenue de l'Eguillette / ZA du Vert Galant
95310 - SAINT OUEN L'AUMONE - FRANCE
Bureau Veritas Certification certifie que les prestations de l’entreprise susmentionnée
ont été évaluées et jugées conformes aux caractéristiques énoncées dans le décret
en vigueur à la date d’édition du présent certificat :
Décret n°2021-461 du 16 avril 2021 relatif à la
prévention des pertes de granulés de plastiques
industriels dans l’environnement
Sous réserve du respect des caractéristiques vérifiées, cette attestation est
valable jusqu’au : 16/02/2026
Date originale : 17/02/2023
Attestation n°: 223-2023-000066-FR Date : 17/02/2023
Affaire n°: 10898066
Laurent CROGUENNEC - Président
Adresse de l’organisme certificateur : Bureau Veritas Certification France
Le Triangle de l'Arche - 9 Cours du Triangle - 92937 Paris La Défense
Des informations supplémentaires concernant le périmètre de cette attestation ainsi que
l'applicabilité des exigences du décret peuvent être obtenues en consultant l'organisme.
Pour vérifier la validité de ce certificat, vous pouvez téléphoner au : + 33 (0)1 41 97 00 60
https://www.avient.com/sites/default/files/2022-04/Versaflex XP Wet Grip Product Bulletin_NEW.pdf
Consumer home goods, such as bath mats
• Outdoor recreation equipment
• Fishing gear
• Water sports equipment
PRODUCT BULLETIN
0
200
400
600
800
1000
1200
0
25
50
75
100
Initial 6 Month
6-Month Ocean Water*
Immersion Study
Hardness, Shore A
(ASTM D2240)
Tensile Strength, psi
(ASTM D638)
1.844.4AVIENT
www.avient.com
Copyright © 2022, Avient Corporation.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520RW%2520Baird%25202015%2520Industrial%2520Conference%2520-%2520November%25202015.pdf
Trailing twelve months adjusted gross margin is calculated as follows:
Three Months
Ended
Nine Months
Ended
Trailing Twelve Months
(TTM) Ended
(In millions) December 31, 2014 September 30, 2015 September 30, 2015
Gross margin - GAAP $ 152.6 $ 524.6 $ 677.2
Special items in gross margin 15.8 30.0 45.8
Gross margin excluding special items $ 168.4 $ 554.6 $ 723.0
Adjusted EBITDA and net debt to adjusted EBITDA is calculated as follows:
Three Months
Ended
Nine Months
Ended
Trailing Twelve
Months (TTM) Ended
(In millions) December 31, 2014 September 30, 2015 September 30, 2015
Income from continuing operations,
before income taxes $ (31.2) $ 168.1 $ 136.9
Interest expense, net 15.6 48.5 64.1
Depreciation and amortization 25.0 78.4 103.4
Special items, impact on income from
continuing operations before income
taxes
80.8 39.8 120.6
Accelerated depreciation included in
special items (0.2) (4.6) (4.8)
Adjusted EBITDA $ 90.0 $ 330.2 $ 420.2
Short-term portion and current portion of
long-term debt $ 61.8
Long-term debt 1,038.0
Less: Cash and cash equivalents (235.7)
Net Debt 864.1
Net Debt/TTM Adjusted EBITDA 2.1
Baird Non GAAP Rec
Baird - November 10, 2015
POL IR Presentation - November 2015 11.5.2015 - Website
��PolyOne Investor Presentation�RW Baird 2015 Industrial Conference�November 2015��
Forward-Looking Statements
Use of Non-GAAP Measures
PolyOne Commodity to Specialty Transformation
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Confirmation of Our Strategy
Proof of Performance & 2020 Goals
Innovation Drives Earnings Growth
Innovation Pipeline Potential
Innovation Initiatives
Design and Service as a Differentiator
Customer First Through World-Class Service
Debt Maturities & Pension Funding
Free Cash Flow and Strong Balance Sheet �Fund Investment / Shareholder Return
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2023-03/AVNT Q2 2022 Earnings Presentation - Website Version.pdf
Three Months Ended
June 30, 2022
Three Months Ended
June 30, 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income attributable to Avient shareholders $ 84.7 $ 0.92 $ 68.8 $ 0.74
Special items, after tax 5.1 0.06 11.7 0.13
Adjusted net income / EPS - excluding special items 89.8 0.98 80.5 0.87
FX adjustment n/a n/a $ (4.9) $ (0.05)
Adjusted net income / EPS - excluding special items, adjusted for FX $ 89.8 $ 0.98 $ 75.6 $ 0.82
Reconciliation to Consolidated Statements of Income Three Months Ended June 30,
2022 2021
Results Results
FX
Adjustment
FX Adjusted
Results
Sales:
Color, Additives and Inks $ 649.1 $ 624.4 $ (35.8) $ 588.6
Specialty Engineered Materials 243.9 240.6 (10.5) 230.1
Distribution 443.2 404.4 (0.2) 404.2
Corporate and eliminations (33.8) (34.2) (1.2) (35.4)
Sales $ 1,302.4 $ 1,235.2 $ (47.7) $ 1,187.5
Operating income:
Color, Additives and Inks $ 93.6 $ 86.3 $ (5.2) 81.1
Specialty Engineered Materials 36.6 37.3 (1.3) 36.0
Distribution 27.1 23.7 — 23.7
Corporate and eliminations (27.8) (39.2) 0.2 (39.0)
Operating income 129.5 108.1 (6.3) 101.8
Special items in operating income 4.3 14.2 — 14.2
Adjusted operating income $ 133.8 $ 122.3 $ (6.3) $ 116.0
1
Three Months Ended
June 30, 2022
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating Income $ 129.5 $ 4.3 $ 133.8
Income before income taxes $ 114.7 $ 3.4 $ 118.1
Income tax expense - GAAP (30.0) — (30.0)
Income tax impact of special items — (0.8) (0.8)
Tax adjustments — 2.5 2.5
Net income attributable to noncontrolling interests — — —
Net income attributable to Avient shareholders $ 84.7 $ 5.1 $ 89.8
EPS $ 0.92 0.06 $ 0.98
Weighted-average diluted shares 92.1 92.1 92.1
Three Months Ended
June 30, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating Income $ 108.1 $ 14.2 $ 122.3
Income before income taxes $ 89.8 $ 14.2 $ 104.0
Income tax expense - GAAP (20.4) — (20.4)
Income tax impact of special items — (3.4) (3.4)
Tax adjustments — 0.9 0.9
Net income attributable to noncontrolling interests (0.6) — (0.6)
Net income attributable to Avient shareholders $ 68.8 $ 11.7 $ 80.5
EPS $ 0.74 0.13 $ 0.87
Weighted-average diluted shares 92.4 92.4 92.4
Three Months Ended
September 30, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating income $ 78.7 $ 20.0 $ 98.7
Income from continuing operations before income taxes $ 61.1 $ 19.9 $ 81.0
Income tax expense - GAAP (8.5) — (8.5)
Income tax impact of special items — (4.6) (4.6)
Tax adjustments — (3.6) (3.6)
Net income attributable to noncontrolling interests 0.3 — 0.3
Net income from continuing operations attributable to Avient shareholders $ 52.9 $ 11.7 $ 64.6
Net income / EPS $ 0.57 $ 0.13 $ 0.70
Weighted-average diluted shares 92.2 92.2 92.2
2
Reconciliation of EBITDA by Segment
Year Ended
December 31,
2021
Operating income:
Color, Additives and Inks $ 303.1
Specialty Engineered Materials 132.0
Distribution 93.2
Corporate and eliminations (147.1)
Operating income $ 381.2
Items below OI in Corporate:
Other income, net $ (1.3)
Depreciation & amortization:
Color, Additives and Inks $ 105.7
Specialty Engineered Materials 31.7
Distribution 0.8
Corporate and eliminations 7.7
Depreciation & Amortization $ 145.9
EBITDA:
Color, Additives and Inks $ 408.8
Specialty Engineered Materials 163.7
Distribution 94.0
Corporate and eliminations (140.7)
EBITDA $ 525.8
Three Months Ended
June 30,
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2021
Net income from continuing operations – GAAP $ 84.7 $ 69.4 $ 230.6
Income tax expense 30.0 20.4 74.0
Interest expense 16.2 19.5 75.3
Depreciation and amortization from continuing operations 36.5 33.8 145.9
EBITDA $ 167.4 $ 143.1 $ 525.8
Special items, before tax 3.4 14.2 57.1
Depreciation and amortization included in special items (1.1) 1.4 (1.7)
Adjusted EBITDA $ 169.7 $ 158.7 $ 581.2
3
AVNT Q2 2022 Earnings Presentation - Website v2.pdf
AVNT Q2 2022 Earnings Presentation - Website.pdf
AVNT Q2 2022 Earnings Presentation - Website
AVNT Q2 2022 Earnings Presentation - Website
AVNT Q2 2022 Earnings Presentation - Website
7.25 323pm IR Deck - AVNT-2022.06.30.pdf