https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520KeyBanc%2520Conference%2520w%2520nonGAAP.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limita tion, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged a nd those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, chang es in interest rates
and changes in the rate of inflation
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission.
S&P 500
-150%
-50%
50%
150%
250%
350%
450%
550%
POL S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 9
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 15.2% 12 – 16%
Global Specialty Engineered
Materials
1.1% 11.8% 12 – 16%
Designed Structures & Solutions -- 7.1% 8 – 10%
Performance Products &
Solutions
5.5% 8.0% 9 – 12%
Distribution 2.6% 6.0% 6 – 7.5%
2) Specialty Platform % of
Operating Income
6.0% 66% 65 – 75%
3) ROIC* 5.0% 9.9% 15%
4) Adjusted EPS Growth N/A 40%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
(Est. in 2012)
PolyOne Corporation Page 10
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement
Several Levers to
Drive Growth
Mid Single Digit Revenue CAGR
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity*
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
*Pipeline as of May 29, 2014 as presented during our Innovation Day
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of June 30, 2014
Debt Maturities & Pension Funding – 6/30/14
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of June 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 6/30/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.8 million shares in
Q2 2014
Repurchased 8.2 million
shares since early 2013
11.8 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/Forward%2520Looking%2520Statements%2520and%2520Non%2520GAAP%2520Measures.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
� Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
� The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
� The speed and extent of an economic recovery, including the recovery of the housing market;
� The amount and timing of repurchases, if any, of PolyOne common shares and our ability to pay regular quarterly cash dividends and the amounts and
timing of any future dividends;
� The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Forward Looking Statements
� Changes in polymer consumption growth rates in the markets where we conduct business;
� Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
� Fluctuations in raw material prices, quality and supply and in energy prices and supply;
� Production outages or material costs associated with scheduled or unscheduled maintenance programs;
� Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
� An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
� The ability to successfully integrate acquired companies into our operations, retain the management teams of acquired companies, and retain
relationships with customers of acquired companies, including without limitation, Color Matrix Group, Inc.
ColorMatrix);
� The ability to achieve the expected results of any acquisitions, including the acquisitions being accretive, including without limitation, the acquisition
of ColorMatrix;
� An inability to maintain appropriate relations with unions and employees; and
� Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission.
https://www.avient.com/sites/default/files/2022-10/PREPERM_for_5G_Application_Bulletin_CN10.8-2.pdf
在很宽的频率范围仍保持稳定的射频性能
0 ,0
2 ,0
4 ,0
6 ,0
8 ,0
1 0 ,0
1 2 ,0
0 1 0 2 0 3 0 4 0 5 0 6 0
D
ie
le
ct
ri
c
co
n
s
ta
n
t
F re que nc y [G H z ]
P R E P E R M ® P P E 95 0 P R E P E R M ® P P E 80 0
P R E P E R M ® P P E 44 0 P R E P E R M ® P P E 32 0
P R E P E R M ® P P E 26 0
生产过程中批次间的稳定性
* 2018 年芬兰有限公司VTT技术研究中心测量数据
介
电
常
数
损
耗
因
数
介
电
常
数
频率 [GHz]
频率 [GHz]
分批编号 (1250 kg/批次)
PREPERM™ PPE950
PREPERM™ PPE800
PREPERM™ PPE440
PREPERM™ PPE320
PREPERM™ PPE260
-- 目标介电常数
-- +/- 2%
3 ,7 6
3 ,7 8
3 ,8 0
3 ,8 2
3 ,8 4
3 ,8 6
3 ,8 8
3 ,9 0
3 ,9 2
3 ,9 4
0 1 2 3 4 5 6 7 8
D
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P a lle t numbe r (1 2 5 0 k g/pa lle t )
D ie le c t ric c o n s t a nt t a rge t +/ - 2 %
0 ,0 0 0
0 ,0 0 2
0 ,0 0 4
0 ,0 0 6
0 ,0 0 8
0 ,0 1 0
0 1 0 2 0 3 0 4 0 5 0 6 0
L
o
s
s
t
a
n
g
e
n
t
F re que nc y [G H z ]
P R E P E R M ® P P E 95 0 P R E P E R M ® P P E 80 0
P R E P E R M ® P P E 44 0 P R E P E R M ® P P E 32 0
P R E P E R M ® P P E 26 0
0 ,0 0 0
0 ,0 0 2
0 ,0 0 4
0 ,0 0 6
0 ,0 0 8
0 ,0 1 0
0 1 0 2 0 3 0 4 0 5 0 6 0
L
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s
s
t
a
n
g
e
n
t
F re que nc y [G H z ]
P R E P E R M ® P P E 95 0 P R E P E R M ® P P E 80 0
P R E P E R M ® P P E 44 0 P R E P E R M ® P P E 32 0
P R E P E R M ® P P E 26 0
0 ,0 0 0
0 ,0 0 2
0 ,0 0 4
0 ,0 0 6
0 ,0 0 8
0 ,0 1 0
0 1 0 2 0 3 0 4 0 5 0 6 0
L
o
s
s
t
a
n
g
e
n
t
F re que nc y [G H z ]
P R E P E R M ® P P E 95 0 P R E P E R M ® P P E 80 0
P R E P E R M ® P P E 44 0 P R E P E R M ® P P E 32 0
P R E P E R M ® P P E 26 0
1.844.4AVIENT
www.avient.com
版权所有©2022 埃万特公司。
https://www.avient.com/sites/default/files/resources/PolyOne%25202017%2520Annual%2520Report.pdf
Knowsley, United Carolina
8.
Melle, Germany 8.
Suzhou, China 8.
https://www.avient.com/investor-center/news/polyone-announces-third-quarter-2018-results
8:00 a.m.
Effective Tax Rate
Effective Tax Rate
https://www.avient.com/investor-center/news/polyone-announces-third-quarter-2019-results
8:00 a.m.
Effective Tax Rate
Attachment 8
https://www.avient.com/sites/default/files/2023-10/LubriOne Product Selection Guide.pdf
Steel – Static 0.25 0.46 0.18 0.15 0.12 0.19 0.11 0.14 0.13 0.24 0.17 0.17
Impact
Notched Izod Impact (23°C,
3.18 mm, Injection Molded)
J/m ASTM D256A 41 64(6) 110 107 107 70 80 37 37 75 – 69
Thermal Properties
Heat Deflection Temperature ASTM D648
0.45 MPa °C 215(6) – 250 215 216 184 152 151(6) 153(6) 218(6) – –
1.8 MPa °C 65(6) 239(7) 244(6) 210 210 75 94 81.1(6) 88 197(6) – 135(5)
Electrical Properties
Surface Resistivity ohms/sq ASTM D254 – – – 1.30x1012 1.9x1012 5.2x1012 – – – – – 1.0x109
Dielectric Strength (Short Time) kV/mm – – 8.5 – – – – – – – – –
Flammability
Flame Rating Class UL 94 HB – – HB HB HB – HB – – – –
LubriOne™ Internally Lubricated Formulations
NOTES (1) Type I, 5.1mm/min
(2) Type I, 21.3 mm/min
(3) Type I, 50 mm/min
(4) Type I, 5.1mm/min, Break
(5) 3.2 mm thick, Unannealed
(6) 6.35 mm thick, Unannealed
(7) 3.2 mm thick, Annealed
PRODUCT DESCRIPTION UNITS
TEST
METHOD
LB6000-
5024 RS HI
Natural
LB6000-
5021 RS S1
Black
LB6000-
5021 RS X2
Black
LB6000-
5019 X1
Black
LB6700-
5001 RS AF
Black
NN-
000/01M
Black SO
REC
LB6600-
5030 RS
Grey
LB3300-
5010 RS
Natural
LB3300-
5005 RS
Natural
REC
LB3220-
5001 RS C
Natural X1
LB8900-
5010 GP
Grey
LB8900-
5006 RS PE
Natural
LB8900-
5004 RS PE
Natural
LB4200-
5022 Black
LB4200-
5023
Natural
Base Polymer PA 6 PA6/PA66 PA66 PBT PC PKE POM
Lubricant UHMWPE1 UHMWPE UHMWPE UHMWPE UHMWPE MoS22 Graphite UHMWPE UHMWPE UHMWPE Graphite UHMWPE UHMWPE MoS2 UHMWPE
Filler type GF10 GF30 GF30 GF50 GF50 Unfilled GF33 GF20 MI20 GF10 Unfilled GF20 GF30 Unfilled Unfilled
General Properties
Specific Gravity g/cm3 ISO 1183 1.18 1.35 1.39 1.55 1.58 1.14 1.44 1.42 1.46 1.23 1.26 1.34 1.43 1.4 1.35
Mechanical Properties
Tensile Modulus (23°C) MPa ISO 527-1 4250 9500 9000 15500 16600 3500 10600 6300 3330 4000 1630 5300 9250 2470 2150
Tensile Strength (Yield, 23°C) MPa ISO-527-2 97 150 160 205 200 85 164 102 55 60 60 108 99.1 55 50
Tensile Elongation (Break, 23°C) % ISO-527-2 12 2.5 3 2.7 2.4 3.4 2.0 4.2 8 2.5 46 3.7 1.5 11 11
Flexural Strength (23°C) MPa ISO 178 103 – – 285 265 108 215 127 78 85 38 155 117 73 68
Flexural Modulus (23°C) MPa ISO 178 3250 – – 12400 11100 2690 9000 4700 3000 3100 1380 4600 5450 2210 2070
Impact
Charpy Notched Impact Strength
(23°C, Injection Molded)
kJ/m^2 ISO 179 14 12 10 15 10 3 6 7.7 4.3 12 15 10 7.6 8 5
Charpy Unnotched Impact
Strength (23°C, Injection Molded)
kJ/m^2 ISO 179 82 55 61 75 60 65 50 47 69 - NB 63 36 NB NB
Thermal Properties
Deflection Temperature Under Load
1.8 Mpa, Unannealed
°C ISO 75-2/A 107 – – 204 – 73 235 – – – 90 210 204 86 80
Cofficient of Friction (CoF) & Wear Rate
CoF vs.
Steel - Static ASTM D1894 – 0.237 0.183 – – – – – – – – – – – –
CoF (20min 0.2 m/s) g/min ASTM G77 – – – – – – – – – – – 0.79 0.79 – –
Wear Rate (20h, 1m/s) g/min ASTM G77 – – – – – – – – – – – 1.02E-05 1.89E-05 – –
Wear Rate (PV=2500)
(in3-min/
ft-lb-hr)
*10-10
ASTM D3702 – 125 175 – – – – – – – – – – – –
Flammability
Flame Rating UL 94 – – – – – – – HB HB V2 @ 3mm – – – – –
LubriOne™ Internally Lubricated Formulations - PTFE-Free
NOTES *ASTM D3702 (PV=2500, against 1018-steel)
1UHMWPE - ultra high molecular weight polyethylene
2 MoS2 - molybdenum disulphide
To learn more about LubriOne™ internally lubricated solutions,
contact Avient at +1.844.4AVIENT (1.844.428.4368)
www.avient.com
EXPLORE WEAR RESISTANCE
LubriOne internally lubricated thermoplastic polymers have been specifically
designed to improve tribological performance in components, offering
low coefficient of friction and improved wear–resistance properties.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520BOAML%2520Basic%2520Materials%2520Conference%2520w%2520non-GAAP%252012%252011%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates
and changes in the rate of inflation
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission.
S&P 500
-150%
-50%
50%
150%
250%
350%
450%
550%
POL S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 9
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 14.9% 12 – 16%
Global Specialty Engineered
Materials 1.1% 12.1% 12 – 16%
Designed Structures & Solutions -- 7.6% 8 – 10%
Performance Products &
Solutions 5.5% 8.1% 9 – 12%
Distribution 2.6% 6.2% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 65% 65 – 75%
3) ROIC* 5.0% 10.6% 15%
4) Adjusted EPS Growth N/A 37% Double Digit Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
32% Adjusted EPS CAGR from 2011
2015 EPS: $2.50
2011 EPS: $0.82
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid Single Digit Revenue Growth
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
31%
2006 2013
Specialty Platform
Gross Margin %
20%
43%
2006 2013
Specialty Vitality Index Target ≥ 35%
Vitality Products
+ 700 to 1000 bps
PolyOne Corporation Page 12
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of September 30, 2014
Debt Maturities & Pension Funding – 9/30/14
Net Debt / EBITDA* = 1.7x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of September 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 9/30/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.5 million shares in
Q3 2014
Repurchased 9.7 million
shares since early 2013
10.3 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
$0.16
$0.20
$0.24
$0.32
$0.40
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015
Annual Dividend
PolyOne Corporation Page 16
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Jefferies%2520Conf%2520w%2520Non%2520GAAP%252008%252012%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates
and changes in the rate of inflation
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission.
S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 8
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 15.2% 12 – 16%
Global Specialty Engineered
Materials 1.1% 11.8% 12 – 16%
Designed Structures & Solutions -- 7.1% 8 – 10%
Performance Products &
Solutions 5.5% 8.0% 9 – 12%
Distribution 2.6% 6.0% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 66% 65 – 75%
3) ROIC* 5.0% 9.9% 15%
4) Adjusted EPS Growth N/A 40% Double Digit Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
(Est. in 2012)
PolyOne Corporation Page 9
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid Single Digit Revenue CAGR
PolyOne Corporation Page 10
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 11
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity*
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
*Pipeline as of May 29, 2014 as presented during our Innovation Day
PolyOne Corporation Page 12
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of June 30, 2014
Debt Maturities & Pension Funding – 6/30/14
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of June 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 6/30/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.8 million shares in
Q2 2014
Repurchased 8.2 million
shares since early 2013
11.8 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Credit%2520Suisse%2520w%2520non%2520GAAP%25206%252025%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limita tion, the acquisition
being accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability
and cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged a nd those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, chang es in interest rates
and changes in the rate of inflation
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission.
S&P 500
All time high of
$42.47
June 6th, 2014
PolyOne Corporation Page 9
2006 Q1 2014 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 13.8% 12 – 16%
Global Specialty Engineered
Materials
1.1% 11.6% 12 – 16%
Designed Structures & Solutions -- 6.5% 8 – 10%
Performance Products &
Solutions
5.5% 7.7% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income
6.0% 64% 65 – 75%
3) ROIC* 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 42%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement
Several Levers to
Drive Growth
Mid Single Digit Revenue CAGR
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 3/31/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million shares in
Q1 2014
Repurchased 6.4 million
shares since April 2013
13.6 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
Formula for Success
Innovation
Market
Beating
Performance
Excellence in Execution
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?