https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Presentation.pdf
$600 $592
$3.02 $3.04
FULL YEAR 2022 PERFORMANCE
(TOTAL COMPANY PRO FORMA)
15
Sales Adjusted EBITDA
$3,712 $3,653
-2%
Adjusted EPS
-1% + 1%
(in millions) (in millions)
(+4% excluding FX) (+5% excluding FX) (+9% excluding FX)
FULL YEAR 2022 SEGMENT PERFORMANCE
16
CAI
$2,402 $2,355
$409 $402
SEM Pro Forma
$1,308 $1,300
$278 $272
(+4% excluding FX)
- 2% -1%
(+5% excluding FX)
- 2%
(+4% excluding FX)
- 2%
(+2% excluding FX)
PRO FORMA FULL YEAR EPS BRIDGE
17
Pro Forma 2021 Adjusted EPS 3.02$
Foreign Currency (0.23)
Russia Import Sales (0.07)
Outdoor High Performance (0.13)
Color, Additives and Inks 0.18
Specialty Engineered Materials 0.24
Corporate Costs / Other 0.03
Pro Forma 2022 Adjusted EPS 3.04$
FULL YEAR EBITDA BRIDGE
(PRO FORMA TOTAL COMPANY)
18
$ millions
CAI:
Price / Mix 247
Inflation (176)
SEM:
Price / Mix 121
Inflation (77)
Net Price Benefit 115
Wage and Energy Inflation (47)
Clariant Color Integration Synergies 23
Incentives, Other Employee Costs 43
FX (34)
Full Year 2022 $592
Adjusted
Full Year 2021 $ 600
Demand (99)
Russia Import Sales (9) • Demand primarily impacted
by China lockdowns, 4th
quarter industrywide
destocking and declining
consumer sentiment
• Pricing outpaced inflation of
raw materials, wages and
energy
2023 G U IDA N CE
$125
$530
$0.55
$2.40
2023 GUIDANCE
20
Sales Adjusted EBITDA
$845
$3,450
Adjusted EPS
(in millions) (in millions)
CASH FLOW / BALANCE SHEET
21
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability, primarily
in Europe
($ millions) 2023E
Cash Flow from Operating Activities 350$
Less:
Run-Rate CapEx (110)
CapEx for IT System Upgrade (25)
CapEx for Restructuring (15)
Total CapEx (150)
Free Cash Flow 200$
Adjusted EBITDA 530$
Net Debt / Adjusted EBITDA 2.9x
K E Y G R O W T H D R I V E R S
A N D T R A N S F O R M E D
P O R T F O L I O
GROWTH DRIVERS: PROVEN SUCCESS
23 (1) Pro forma for the acquisition of Avient Protective Materials (APM)
COMPOSITES
$51
$84
$212
$668
HEALTHCARE
$108 $113
$231
$293
8-10%
ASIA/EMERGING REGIONS
$265
$358
$726
$830
12%
$340
$455
$790
$1,175
SUSTAINABLE SOLUTIONS
8-12%
(1) (1)(1)
(Sales in $ millions)
#1 Color Formulator
Dyneema® - World’s Strongest
Fiber™
#1 in Composites applications
for outdoor high performance
#1 in Performance Inks
Customized solutions
140+ PhDs on staff
Rapid development of
innovative products
Extensive patent (2,500+)
portfolio
33% Vitality Index
Better-positioned toward stable,
high-growth end markets
Consumer, packaging,
healthcare and defense comprise
nearly 60% of sales
Agnostic to raw materials,
helping all customers achieve their
goals
Broad portfolio of diversified
sustainable solutions
90%+ of our innovation pipeline
invested in sustainable solutions
Long-term growth rate well
above GDP with expectations of
8-12%
LEVERAGING OUR TRANSFORMED PORTFOLIO
24
Building &
4% Telecom.
2022 PF
$3.65B
sales
Leading Positions Sustainable SolutionsDiversified IndustriesSpecialty Formulator
(1) 2022 Pro forma for the acquisition of Avient Protective Materials
(2) 2020 Pro forma for the acquisition of Clariant Color
(1)(2)
$340M
$455M
$790M
2016 2018 2020PF 2022PF
$1,175M
P EE R C O M PAR IS O N S
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,450 and estimated run-rate CAPEX of $110M.
27
2
4 4
5 5 5
6
7 7
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Press Release_0.pdf
AVNT-2024.03.31-News Release
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces First Quarter 2024 Results
• First quarter GAAP EPS from continuing operations of $0.54 compared to $0.23 in the
prior year quarter
• First quarter adjusted EPS of $0.76 exceeded guidance of $0.68 primarily as a result of
better-than-expected customer demand from defense applications and lower raw
material costs
• First quarter adjusted EPS increased 21% over the prior year driven by improved
margins from lower raw material costs and favorable mix, and lower net interest
expense
• Revised 2024 full-year adjusted EPS guidance range to $2.50 to $2.65, from prior
guidance of $2.40 to $2.65 given strong first quarter results; Revised full-year guidance
range reflects 6% to 12% growth in adjusted EPS over the prior year
CLEVELAND – May 7, 2024 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable materials solutions, today announced its first quarter results for
2024.
About Avient
Avient Corporation (NYSE: AVNT) provides specialized and sustainable materials solutions that
transform customer challenges into opportunities, bringing new products to life for a better
world.
Examples include:
• 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
• Unique technologies that improve the recyclability of products and enable recycled
content to be incorporated, thus advancing a more circular economy
• Light-weighting solutions that replace heavier traditional materials like metal, glass
and wood, which can improve fuel efficiency in all modes of transportation and reduce
carbon footprint
• Sustainable infrastructure solutions that increase energy efficiency, renewable
energy, natural resource conservation and fiber optic / 5G network accessibility
Avient is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic
Waste and certified Great Place to Work®.
https://www.avient.com/sites/default/files/2024-05/Responsible Care_14001 Global Cert_Avient_2024.pdf
Avient Corporation - Bethel, CT
19 Francis J Clark Circle
Bethel, CT 06801
Design and Manufacture of Colorants and Compounds for Fluoropolymer and High Temperature Polymers.
65536-110437Certificate No:
Page 9 of 53
ABS Quality Evaluations, Inc. 1701 City Plaza Drive, Spring, TX 77389, U.S.A.
https://www.avient.com/sites/default/files/2021-07/fiber-line-global-product-selection-guide.pdf
Contact us today to determine the fiber-based
solution that is right for your product.
https://www.avient.com/sites/default/files/2020-08/sem-edgetek-application-bulletin.pdf
ET9600-8010 LDS ET3200-8177 LDS
Dielectric Constant
(DK) 3.98 2.88
Dissipation Factor
(Df) 0.0060 0.0040
SPECIALTY ENGINEERED MATERIALS
ELECTRICAL & ELECTRONICS SOLUTIONS
EDGETEK™ FORMULATIONS
FOR 5G BASE STATION
ANTENNA APPLICATIONS
EDGETEK™ PRODUCT PORTFOLIO
HOW AVIENT EDGETEK FORMULATIONS MAKE THE DIFFERENCE
FOR 5G BASE STATION ANTENNA APPLICATIONS
Increased Design Flexibility – Can increase design flexibility especially for circuit design,
3D antenna design, and complex shapes
Faster Design Qualification & Shorter Lead Time – Can be customized to specific Dk values
and delivered within weeks
Flexible Design Space – Effective for circuit designs constrained by a limited space
Compatible with SMT Process – Can be customized to resist heat, with deflection
temperatures ranging from 200°C to 278°C
To learn more, please visit www.avient.com
or call +86.21.60284888.
https://www.avient.com/sites/default/files/2020-08/colormatrix-amosorb-low-haze-product-bulletin-8.5x11.pdf
LOW HAZE
The new 4020G grade of ColorMatrix Amosorb
offers similar oxygen scavenging performance as
previous solutions with the added benefit of up to
50% lower haze, resulting in improved clarity and
clearer looking bottles.
https://www.avient.com/sites/default/files/2020-09/sem-tpes-for-anti-vibration-feet-application-bulletin.pdf
VERSAFLEX™ VDT
4202-40B
DYNAFLEX™
G7940
Defining Characteristic Vibration damping Vibration isolation
What it Does
Dampens vibrations,and
specifically minimizes
appliance walking
Isolates vibrations, which
reduces overall movement
of the appliance
Tactile Feel Grippy feel Soft touch, rubbery feel
Coloring Black Natural
Hardness 40 Shore A 40 Shore A
Overmolding Substrate Polypropylene Polypropylene
HOME APPLIANCE SOLUTIONS
REDUCE MOVEMENT OF TOP LOAD
WASHING MACHINES WITH TPES
FOR ANTI-VIBRATION FEET
EXAMPLES OF APPLICATION-SPECIFIC MATERIALS AND DESIGN SUPPORT
DynaflexVersaflex VDT
Polypropylene
HOW OUR TPES MAKE THE DIFFERENCE IN TOP LOADING WASHING MACHINE
ANTI-VIBRATION FEET
Lower the number of service calls – Our TPEs for
anti-vibration feet reduce appliance movement and
walking during use, thus lowering the number of
service calls and reducing costs.
https://www.avient.com/sites/default/files/2020-10/tpes-for-home-appliances-product-bulletin.pdf
GLS™ TPE
MAJOR HOME APPLIANCE SOLUTIONS
ENHANCE APPLIANCE PERFORMANCE
WITH TPEs FOR ANTI-VIBRATION FEET
In the highly competitive home appliance market,
brands are driving to differentiate products with
enhanced performance attributes.
https://www.avient.com/sites/default/files/resources/Specialty%2520Inks%2520-%2520BU%2520Overview.pdf
SOME OF OUR FIRSTS
• Development of the industry’s first
plastisol color mixing system for
screen printing ink
• Introduction of the first automated
ink dispensing equipment
OUR SPECIALTY INKS
• Broadest range of specialty screen
printing inks, including: non-phthalate
PVC plastisol, water-based, silicone,
and non-PVC plastisol
• Ink room solutions including inventory
management software
• Strong expertise in R&D and product
development
• Demonstrated technical service and
color matching capabilities
• Highly efficient manufacturing
operations
• Global manufacturing footprint
and customer reach
OUR BRANDS
• Wilflex is a leading brand of specialty
screen printing inks with a focus on
total ink-room management, providing
the most efficient, cost-effective
environment possible
• Rutland is a leading brand of specialty
screen printing inks for the textile
industry with a strong commitment
to making the screen printing process
easier, more attractive and more
profitable for customers
• Union Ink is a brand dedicated to
providing the broadest range of
innovative and inspired screen printing
inks with the highest opacity mixing
systems in the market
• Printop is a leading brand of textile
screen printing inks in Latin America
including plastisols, water-based,
and discharge inks
• QCM is a trusted brand of cost-
effective, high quality inks for one
of the most recognizable products
in the world, the printed t-shirt
SPECIALTY INKS GLOBAL FOOTPRINT
• Five manufacturing facilities in
Kennesaw, Georgia; Pineville, North
Carolina; Lima, Peru, Shenzhen, China;
and Mumbai, India (JV)
• Warehouse and distribution facilities
in Georgia, North Carolina and Ohio in
the US, Paddock Wood and Widnes,
U.K., and Singapore
• Global presence of distributors located
in over 60 countries
Copyright © 2018, PolyOne Corporation.
https://www.avient.com/sites/default/files/2024-07/Composite Heat Release Technology Product Bulletin.pdf
HOW WE WORK WITH YOU
Avient’s engineering and technical experts work
closely with firearms manufacturers in the barrel
development process to understand their needs and
requirements, and to customize a solution.