https://www.avient.com/sites/default/files/2022-07/Versaflex-coffee machine seal-Application snapshot.pdf
S M A L L A P P L I A N C E
O E M
C O F F E E M A C H I N E S E A L
• Soft durometers
• Good bonding to ABS
• Good flowability for easy processing
• Excellent sealing property
• Formulated a 30 Shore A TPE with excellent
peel force performance to meet the sealing
requirements
• Offered a short lead time and on-site technical
service to speed up the time to market
• Provided fast global collaboration between
regions, supporting the brand’s design team in
Europe and molders in Asia
Custom VersaflexTM Formulation
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2022-04/Asia SEM Healthcare Product Selection Guide_CN.pdf
Versaflex™ OM3060
PP包覆成型 硬度 法规 灭菌 特性
28A 环氧乙烷 柔软的半透明材料,粘性好
43A 环氧乙烷 高度可着色的解决方案,粘性好,不易压缩变形
42A/ 50A 环氧乙烷 透明的耐高温级材料;ABS、PC可粘合
60A 环氧乙烷/蒸汽 弹性高,不易压缩变形
20A-90A 环氧乙烷 用途广泛,无填充
ABS,PC包覆成型 硬度 法规 灭菌 特性
40A USP VI级,ISO 10993 环氧乙烷 半透明
60A USP VI级,ISO 10993 环氧乙烷 透明
应用:
VERSAFLEX™ CL与DYNAFLEX™
热塑性弹性体
包覆成型,符合人体
工程学设计
•
•
•
•
•
•
触感柔软,有利于形成良好的表面
有多种颜色效果和纹理可供选择
提高抓握力、缓冲力和舒适度
提高性能表现,如密封性能、减震、隔氧、
耐刮擦和耐磨性能
降低装配成本,加工性能良好
可牢固包覆于各种基材上
•
•
•
•
血糖仪
医用工具包覆成型
注射笔
分析仪器
Dynaflex™ G2706
Dynaflex™ G2711
Versaflex™
CL2242 & CL2250
Versaflex™ G2705 N
Versaflex™ HC3810
Versaflex™ OM1040
USP VI级,ISO 10993,
食品接触
USP VI级,ISO 10993,
US食品接触
USP VI级,ISO 10993,
食品接触
USP VI级,ISO 10993
USP VI级,ISO 10993,
食品接触
材料描述 硬度 法规 灭菌 特性
45A USP VI级
55A USP VI级
70A USP VI级
43A 环氧乙烷
34A
USP VI级,
ISO 10993-4/5
FDA,USP VI级,
ISO 10993
57A
挤出级,耐高温
再密封,压缩变形性能提高
摩擦低
Versalloy™ HC 9210-55N
Versalloy™ HC 9210-70N
Versalloy™ HC 9220-43N
Versaflex™ HC 2110-35N
Versaflex™ HC 2110-57B FDA,USP VI级,ISO 10993
环氧乙烷 加工性能良好,表面光洁、美观
环氧乙烷
环氧乙烷
加工性能良好,表面光洁、美观
加工性能良好,表面光洁、美观
高压灭菌、环氧乙烷、
辐射灭菌
高压灭菌、环氧乙烷、
辐射灭菌
应用:
VERSALLOY™ HC与VERSAFLEX™ HC
热塑性弹性体
密封和再密封
•
•
•
•
•
柔软的橡胶质感
无抽芯,静态推塞被刺穿后再密封性良好
满足动态密封的低摩擦系数要求
可萃取物含量低
适合在聚烯烃上包覆成型
•
•
•
密封和密封隔膜
密封件和卫生垫圈
注射器推塞和塞头
Versalloy™ HC 9210-45N
材料描述 硬度 法规 灭菌 特性
65A/ 75A/ 84A
54A
67A
辐射灭菌
高压灭菌器
透明度高,不含增塑剂,无油
工作温度高,可高温灭菌
环氧乙烷、辐射灭菌
Versaflex™ HC MT555
Versaflex™ HC BT218
应用:
VERSAFLEX™ CL与DYNAFLEX™
热塑性弹性体
高透明度级,不含增塑剂
•
•
•
•
•
•
•
无色透明级,配方不含邻苯二甲酸酯增塑剂
符合医疗法规USP VI级和ISO 10993-4、5的
要求
食品接触用并符合FDA标准
可高压灭菌和辐射灭菌
可萃取物含量低
透明度高(雾度50 4.1, 100 4.5, 100 4, 70 6, 70
拉伸模量(MPa) 2200 2700 2600 2350 1820 1820
挠曲强度(MPa) 80 90 104 86 68 68
挠曲模量(MPa) 2500 2700 2500 2300 1980 1590
HDT:0.45、1.8(MPa) 110, 80 90, 80 100, 89 123, 100 123, 64 100, 70
UL-94等级,3.0mm 5VA V-0 5VA V-0 HB V-0
UL-94等级,1.5mm V-0 V-0 5VB V-0 HB V-0
UL-94等级,0.75mm V-1 V-2 V-0 无 无 V-2
竞争材料对比
医疗保健特种工程聚合物配方
TRILLIANT™ HC热塑性塑料
Trilliant™ HC高性能热塑性弹性体系列配方是专为应对日趋严苛的医疗器械和设备而开发的。
TRILLIANT™
HC8920
TRILLIANT™
HC2020
Trilliant™ HC2020
材料描述 基料
共聚酯
Trilliant™ HC8910/8920 聚酮/ABS共混物
Trilliant™ HC2120 Tritan
Trilliant™ HC3120 PC
Trilliant™ HC5210 PP
Trilliant™ HC6010 PA6
Trilliant™ HC6610 PA66
Trilliant™ GRV-NP-110-W PA12
应用:
TRILLIANT™ HC热塑性塑料
•
•
•
•
•
作为FR PC/ABS、FR PC/PET和FR COPE的
耐化学性替代品,在各种颜色的应用中,其
阻燃等级在1.5mm和0.75mm厚度下分别可
达到UL 94黄卡V-0级和V-1级。
在对普通消毒剂的耐受性方面优于PC/ABS、
PC/PET和COPE
暴露在普通医院消毒剂下72小时后仍能保持
抗拉强度,相较于PC混合物和COPE,具有
更出色的长期耐化学性
具有良好的抗冲击性和耐热性
有自然色等级、标准医用颜色或定制预着色
产品可供选择
•
•
•
•
医疗设备外壳
核磁共振成像、X射线、CT扫描仪部件
手术器械,如吻合器、解剖器、剪刀等
自动注射笔
测试项 比重
熔体流动指数
(230OC,
2.16KG)
抗拉强度 挠曲强度 挠曲模量 冲击强度缺口,IZOD 测试项
方法 ASTM D-792 ASTM D-1238 ASTM D-638 ASTM D-790 ASTM D-790 ASTM D-256 ASTM D-257
单位 -- g/10min MPa MPa MPa J/m Ohms/sq.
https://www.avient.com/sites/default/files/2020-08/oncolor-rc-environmental-black-product-bulletin.pdf
KEY CHARACTERISTICS
• Derived from end-of-life tires
• Available for multiple resins and
custom solutions
• Retains performance characteristics
of traditional carbon black in plastics
• Enhances sustainable product offerings
• Provides long-term price stability
• Passes REACH and RoHS requirements
• Prop 65 letters available
MARKET AND APPLICATIONS
OnColor RC Environmental Black is a sustainable
solution across a wide variety of industries and
applications, including:
• Automotive
• Wire and cable
• Building and construction
• Appliances
• Electrical and electronics
• Industrial molding applications
• Office furniture
Avient OnColor RC Environmental Black is offered for
multiple resins and also for custom solutions:
CC10289240WE OnColor RC Environmental Black PE
CC10284887WE OnColor RC Environmental Black TPU
CC10287020WE OnColor RC Environmental Black PC
CC10287026WE OnColor RC Environmental Black PS
CC10287028WE OnColor RC Environmental Black PP
CC10287033WE OnColor RC Environmental Black ABS
www.avient.com
Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2023-08/OnColor Lux Colorants for Glow-In-The-Dark Effects Product Bulletin.pdf
APPLICATIONS
• Automotive, consumer products, E&E products
• PP, ABS, PC co-polyester, PA6, PA 66, PA12, and
others on request
KEY BENEFITS
• Up to 10 hours glow depending on resin,
activation energy, and pigment loading
• Unlimited repetition of energy accumulation
and emission process
• Excellent temperature and chemical stability
• Excellent weathering fastness and lightfastness
• Limited influence on mechanical properties
• Formulated with low-concern substances
Copyright © 2023, Avient Corporation.
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - Hungarian.pdf
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - Russian.pdf
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - German.pdf
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - French.pdf
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Goldman%2520Sachs%2520Conference%2520-%2520November%25202015.pdf
PolyOne Corporation Page 4
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of four
pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• Substantial EPS growth
from $0.13 to all-time
high of $1.80
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Specialty mix expands
to 65% of Operating
Income – strongest mix
of earnings in history
• Accelerating growth
• Deliver consistent
double digit annual
EPS growth
• Maintain >35% vitality
index
• Pursue strategic
acquisitions that
expand specialty
offerings and
geographic breadth
• Invest and grow
current and next
generation talent
PolyOne Corporation Page 5
Appliances
5%
Building &
Construction
12%
Consumer
10%
Electrical &
Electronics
5%
Healthcare
11%
Industrial
14%
Packaging
14%
Transportation
20%
Wire & Cable
9%
Distribution
28%
PP&S
20%
Specialty
52%
United States
69%
Europe
13%
Canada
7% Asia
6%
Latin America
5%
2014 Revenues: $3.8 Billion
End Markets
2014 Revenues: $3.8 Billion
PolyOne
At A Glance
$0.12
$0.27 $0.21
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
2006 2007 2008 2009 2010 2011 2012 2013 2014
Adjusted EPS
PolyOne Corporation Page 6
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
65% 66%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2014 YTD 2015 2020
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
80%+
Specialty OI $5M $46M $87M $195M $242M $183M
Mix Shift Highlights Specialty Transformation
Transformation
2020
Platinum
Vision
Platinum
Vision
PolyOne Corporation Page 7
2006 YTD 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 17.2% 20%+
Global Specialty Engineered
Materials 1.1% 15.1% 20%+
Designed Structures & Solutions 1.4% (2012) 3.5% 12 – 14%
Performance Products &
Solutions 5.5% 8.1% 10 – 12%
Distribution 2.6% 6.6% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 66% 80%+
3) ROIC 5.0% 11.9% 15%
4) Adjusted EPS Growth N/A
24 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
PolyOne Corporation Page 8
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$52
2006 TTM
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
28%
2006 TTM
Specialty Platform
Gross Margin %
12%
43%
2006 TTM
Specialty Vitality Index Target ≥ 35%
TTM 9/30/15 TTM 9/30/15 TTM 9/30/15
PolyOne Corporation Page 9
Innovation Pipeline Potential
Prototype Frame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
12
4
9
6
1
6
3 7 4
5
6
1
1
7
2
Breakthrough
Platform
Derivative
Number of Projects 12 10 23 19 10 74
Specialty
Addressable Market
($ millions)
- - $1,150 $1,000 $250 $2,400
PolyOne Corporation Page 10
Lightweighting with Advanced Composites
Increasing Healthcare Penetration
Innovation Initiatives
Expansion in Consumer Markets
New Market Development
$$$ $$ $
High Temperature Polymers
PolyOne Corporation Page 11
Design and Service as a Differentiator
Right Material &
Color
Desired
Product Design
Appropriate
Manufacturing Process
Delivering Concept to
Commercialization
Connecting
the Dots with
iQ Design Labs and
InVisiO Color Design
PolyOne Corporation Page 12
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
• Supporting customers who lack their own formal process improvement initiatives
Providing training in Customer Centric Selling Skills with customers’
sales force
PolyOne Corporation Page 13
60%
97%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q3 2015
Pension Funding**
As of September 30, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA** = 2.1x
$49
$121
$317
$600
$400
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2018 2020 2023
Debt Maturities
As of September 30, 2015
($ millions)
Coupon Rate: 7.500% Variable* 7.375% 5.250%
** includes US-qualified pension plans only *Weighted average rate on revolver was 2.49% as of 9/30/15 **TTM 9/30/2015
PolyOne Corporation Page 14
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$0.16
$0.20
$0.32
$0.40
$0.48
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015 2016
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material
solutions
Repurchased nearly
2.4 million shares in Q3
2015
Repurchased 14.8
million shares since
early 2013
5.2 million shares are
available for
repurchase under the
current authorization
$0.24
PolyOne Corporation Page 15
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and
performance
PolyOne Corporation Page 16
Appendix
PolyOne Corporation Page 17
$0.20
$0.28
$0.36
$0.49
$0.54
$0.00
$0.15
$0.30
$0.45
$0.60
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
Adjusted EPS
Q3 2015 Financial Highlights
Color Additives & Inks operating
margin reaches record third quarter
level of 17.3%
Specialty Engineered Materials
operating margin grew 210 basis
points year-over-year to 14.7%
Third quarter adjusted EPS has
grown on average 28% per year
since 2011
$13
$19
$29 $30
$35
$0
$10
$20
$30
$40
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
GCAI Operating Profit
$11
$13
$15
$18
$20
$10
$14
$18
$22
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
GSEM Operating Profit
Note: $ in millions, except per share data
PolyOne Corporation Page 18
Appliances
2%
Building &
Construction
12%
Consumer
7%
Electrical &
Electronics
1%
Healthcare
6%
Industrial
14%
Packaging
31% Textiles
7%
Transportation
8%
Wire & Cable
12% 1.7%
4.6% 5.1%
5.5%
7.2% 8.1%
9.7%
12.2%
17.2%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Global Color, Additives and Inks
2014 Revenues: $0.9 Billion Solutions
Expanding Profits 2014 Revenue by Industry Segment
14.7%
Platinum
Vision
United States
44%
Europe
36%
Canada
2%
Asia
12%
Latin America
6%
PolyOne Corporation Page 19
Appliances
4% Building &
Construction
3%
Consumer
18%
Electrical &
Electronics
16%
Healthcare
12%
Industrial
8%
Packaging
5%
Transportation
20%
Wire & Cable
12%
At a Glance
Global Specialty Engineered Materials
2014 Revenues: $0.6 Billion Solutions
2014 Revenue by Industry Segment Expanding Profits
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6%
9.3%
15.1%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
Platinum
Vision
12.1%
United States
44%
Europe
33%
Canada
2%
Asia
19%
Latin America
2%
PolyOne Corporation Page 20
Appliances
2% Building &
Construction
8%
Consumer
5%
Healthcare
6%
Industrial
23%
Packaging
27%
Transportation
30%
United States
96%
Canada
4%
At a Glance
Designed Structures and Solutions
Solutions 2014 Revenues: $0.6 Billion
Expanding Profits 2014 Revenue by Industry Segment
1.4%
5.6%
7.3%
3.5%
12-14%
2012 2013 2014 YTD 2015 2020
Operating Income % of Sales
Platinum
Vision
PolyOne Corporation Page 21
Appliances
8%
Building &
Construction
33%
Consumer
5% Electrical &
Electronics
3%
Healthcare
1%
Industrial
11%
Packaging
5%
Transportation
18%
Wire & Cable
16%
5.5%
6.9%
3.8%
3.6%
5.5%
4.3%
6.3%
7.2%
8.1%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Performance Products and Solutions
Solutions
Expanding Profits
2014 Revenues: $0.8 Billion
10-12%
Platinum
Vision
2014 Revenue by Industry Segment
7.7%
United States
80%
Canada
14%
Asia
2%
Latin America
4%
PolyOne Corporation Page 22
Appliances
6%
Building &
Construction
5%
Consumer
13%
Electrical &
Electronics
6%
Healthcare
23%
Industrial
15%
Packaging
4%
Transportation
25%
Wire & Cable
3%
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9%
6.6% 6.5-7.5%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
15%
52%
2006 Q3 2015
At a Glance
Distribution
Key Suppliers 2014 Revenues: $1.1 Billion
ROIC Expanding Profits
6.1%
Platinum
Vision
http://www.polyone.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 23
2 lbs Plastic
=
3 lbs aluminum
or
8 lbs steel
or
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight
than steel
93% less material by weight
than glass
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper
Source: SPI: Sustainability and the Plastics Industry
Plastics: Key to Future Sustainable Development
PolyOne Corporation Page 24
Commitment to Operational Excellence
81%
93%
2006 2014
16.2%
9.9%
2006 2014
On-Time Delivery
Working Capital % of Sales
5%
43%
2006 2014
Percent of Associates Trained in LSS
Five consecutive years – CFO Magazine
Best Working Capital Management in the
chemical industry
World’s Best Business
Process Excellence
Program in 2012*
113 trained Black Belts
235 trained Green Belts
151 trained Kaizen Leaders
World’s Best Start-up
Program for Lean Six Sigma
Deployment in 2009*
*Both awards received from International Quality and Productivity Center
PolyOne Corporation Page 25
Application Examples
PolyOne Corporation Page 26
Outdoor Applications
• Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
• Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
PolyOne Corporation Page 27
$1.5 billion attractive, growing market
Additives improve performance and reduce cost
through light-weighting, reduced waste, faster
cycle times, and extended shelf life of finished
product
Aligned with megatrend of protecting the
environment:
Sustainability benefits include lower
package weight and improved recyclability
of package at end of use
Market Opportunity
Leading Global Supplier of Additives In Growing PET Market
Shelf-life extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat resistance
PET Bottling Technology
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2009 2014 2019
Asia Pacific North America
Latin America Western Europe
Eastern Europe Middle East and Africa
Global PET Packaging Growth 2009-2019
Source: Euromonitor retail off-trade consumption (PET bottles & jars, home care, personal care,
food & non-alcoholic beverages)
B
ill
io
n
un
its
5% CAGR
PolyOne Corporation Page 28
• Includes formulation and
consultative services to assist
manufacturers and brand owners in
positively identifying their finished
goods
• Protects brand equity & consumer
welfare
• Reduces exposure to unwarranted
recall expenses
• Secures supply chain integrity –
support for safe expansion into new
geographies
Authentication Technology
PolyOne Corporation Page 29
• Color harmonization across
15 unique color-and-polymer
combinations
• Eliminated need for multiple pre-
colored materials
• Reduced Land Rover’s working
capital
2015 Range Rover Evoque Interior
PolyOne Corporation Page 30
• Reduced health and
environmental impact
• System cost reduction
• Radiation-shielding
performance
• Parts consolidation
• Design freedom
CT Scanner
PolyOne Corporation Page 31
Metal Replacement Solutions
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with
fewer parts
• Weight reduction
• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 32
High-Barrier Packaging Containers
• Capability to extrude up to 13
layers
• Strong oxygen and moisture
vapor transmission protection
• Can be made symmetrical or
asymmetrical to meet
customized needs of broad
variety of applications
• Barrier protection and superior
sensory properties
PolyOne Corporation Page 33
Aerospace Applications
• Leading provider of specialty materials
for the aerospace industry
• Typical applications
Mil-spec aircraft windows, canopies,
windscreens, instrument panels,
wingtip lenses
Interior – gallery furnishings, tray
tables, arm rests, trim strips, joint/edge
coverings
• Benefits:
High impact strength
Resistant to UV rays
Flame and smoke compliance
Easy to clean with aggressive cleaners;
anti-microbial grades available
Range of sizes, thicknesses, colors, etc.
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented in
accordance with U.S.
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
��PolyOne Investor Presentation�Goldman Sachs 2015 US Emerging/�SMID Cap Growth 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
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/resources/POL%2520IR%2520Presentation%2520-%2520Jefferies%2520Industrials%2520Conference%25202015.pdf
S&P 500
PolyOne Corporation Page 9
2006 YTD 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 17.2% 20%+
Global Specialty Engineered
Materials 1.1% 15.3% 20%+
Designed Structures & Solutions 1.4% (2012) 3.3% 12 – 14%
Performance Products &
Solutions 5.5% 7.6% 10 – 12%
Distribution 2.6% 6.5% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 67% 80%+
3) ROIC (after-tax)* 5.0% 11.7% 15%
4) Adjusted EPS Growth N/A
23 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
*ROIC is defined as TTM adjusted operating income after-tax divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
Platinum Vision: Pathway to Accelerated Growth
Organic
Sales Growth
Margin
Expansion
Share
Repurchases
Acquisitions
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2014
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
27%
2006 2014
Specialty Platform
Gross Margin %
20%
44%
2006 2014
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
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 13
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
6
9
7
3
5
12
5 3 2
8
4
2
4
3
1
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity
Number of Projects 14 8 18 12 22 74
Addressable Market
($ millions)
$700 $600 $600 $1,900
PolyOne Corporation Page 14
60%
102%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q2 2015
Pension Funding**
As of June 30, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA** = 2.0x
Coupon Rate: 7.500% Variable* 7.375% 5.250%
** includes US-qualified pension plans only *Weighted average rate on revolver was 2.40% as of 6/30/15 **TTM 6/30/2015
$49
$79
$317
$600
$400
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2018 2020 2023
Debt Maturities
As of June 30, 2015
($ millions)
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$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
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material
solutions
Repurchased nearly
600K shares in Q2
2015
Repurchased 12.4
million shares since
early 2013
7.6 million shares are
available for
repurchase under the
current authorization
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?
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and
performance
PolyOne Corporation Page 18
Appendix
PolyOne Corporation Page 19
$0.19
$0.26 $0.30
$0.37
$0.51
$0.57
$0.00
$0.25
$0.50
Q2'10 Q2'11 Q2'12 Q2'13 Q2'14 Q2'15
Adjusted EPS
Q2 2015 Financial Highlights
Global Color Additives & Inks
operating margin reaches record
level of 18.2%
Global Specialty Engineered
Materials operating margin grew 240
basis points year-over-year to 14.4%
Second quarter adjusted EPS has
grown on average 25% per year
since 2010
$13 $14
$24
$31
$38 $40
$10
$30
$50
Q2'10 Q2'11 Q2'12 Q2'13 Q2'14 Q2'15
GCAI Operating Profit
$12 $13 $13
$15
$19
$20
$10
$14
$18
$22
Q2'10 Q2'11 Q2'12 Q2'13 Q2'14 Q2'15
GSEM Operating Profit
Note: $ in millions, except per share data
PolyOne Corporation Page 20
Appliances
2%
Building &
Construction
12%
Consumer
7%
Electrical &
Electronics
1%
Healthcare
6%
Industrial
14%
Packaging
31% Textiles
7%
Transportation
8%
Wire & Cable
12% 1.7%
4.6% 5.1%
5.5%
7.2% 8.1%
9.7%
12.2%
17.2%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Global Color, Additives and Inks
2014 Revenues: $0.9 Billion Solutions
Expanding Profits 2014 Revenue by Industry Segment
14.7%
Platinum
Vision
United States
44%
Europe
36%
Canada
2%
Asia
12%
Latin America
6%
PolyOne Corporation Page 21
Appliances
4% Building &
Construction
3%
Consumer
18%
Electrical &
Electronics
16%
Healthcare
12%
Industrial
8%
Packaging
5%
Transportation
20%
Wire & Cable
12%
At a Glance
Global Specialty Engineered Materials
2014 Revenues: $0.6 Billion Solutions
2014 Revenue by Industry Segment Expanding Profits
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6%
9.3%
15.3%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
Platinum
Vision
12.1%
United States
44%
Europe
33%
Canada
2%
Asia
19%
Latin America
2%
PolyOne Corporation Page 22
Appliances
2% Building &
Construction
8%
Consumer
5%
Healthcare
6%
Industrial
23%
Packaging
27%
Transportation
30%
United States
96%
Canada
4%
At a Glance
Designed Structures and Solutions
Solutions 2014 Revenues: $0.6 Billion
Expanding Profits 2014 Revenue by Industry Segment
1.4%
5.6%
7.3%
3.3%
12-14%
2012 2013 2014 YTD 2015 2020
Operating Income % of Sales
Platinum
Vision
PolyOne Corporation Page 23
Appliances
8%
Building &
Construction
33%
Consumer
5% Electrical &
Electronics
3%
Healthcare
1%
Industrial
11%
Packaging
5%
Transportation
18%
Wire & Cable
16%
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3%
7.2%
7.6%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Performance Products and Solutions
Solutions
Expanding Profits
2014 Revenues: $0.8 Billion
10-12%
Platinum
Vision
2014 Revenue by Industry Segment
7.7%
United States
80%
Canada
14%
Asia
2%
Latin America
4%
PolyOne Corporation Page 24
Appliances
6%
Building &
Construction
5%
Consumer
13%
Electrical &
Electronics
6%
Healthcare
23%
Industrial
15%
Packaging
4%
Transportation
25%
Wire & Cable
3%
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9%
6.5% 6.5-7.5%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
15%
52%
2006 Q2 2015
At a Glance
Distribution
Key Suppliers 2014 Revenues: $1.1 Billion
ROIC Expanding Profits
6.1%
Platinum
Vision
http://www.polyone.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 25
2 lbs Plastic
=
3 lbs aluminum
or
8 lbs steel
or
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight
than steel
93% less material by weight
than glass
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper
Source: SPI: Sustainability and the Plastics Industry
Plastics: Key to Future Sustainable Development
PolyOne Corporation Page 26
Commitment to Operational Excellence
81%
93%
2006 2014
16.2%
9.9%
2006 2014
On-Time Delivery
Working Capital % of Sales
5%
43%
2006 2014
Percent of Associates Trained in LSS
Five consecutive years – CFO Magazine
Best Working Capital Management in the
chemical industry
World’s Best Business
Process Excellence
Program in 2012*
114 trained Black Belts
222 trained Green Belts
140 trained Kaizen Leaders
World’s Best Start-up
Program for Lean Six Sigma
Deployment in 2009*
*Both awards received from International Quality and Productivity Center
PolyOne Corporation Page 27
Application Examples
PolyOne Corporation Page 28
$1.5 billion attractive, growing market
Additives improve performance and reduce cost
through light-weighting, reduced waste, faster
cycle times, and extended shelf life of finished
product
Aligned with megatrend of protecting the
environment:
Sustainability benefits include lower
package weight and improved recyclability
of package at end of use
Market Opportunity
Leading Global Supplier of Additives In Growing PET Market
Shelf-life extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat resistance
PET Bottling Technology
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2009 2014 2019
Asia Pacific North America
Latin America Western Europe
Eastern Europe Middle East and Africa
Global PET Packaging Growth 2009-2019
Source: Euromonitor retail off-trade consumption (PET bottles & jars, home care, personal care,
food & non-alcoholic beverages)
B
ill
io
n
un
its
5% CAGR
PolyOne Corporation Page 29
• Includes formulation and
consultative services to assist
manufacturers and brand owners in
positively identifying their finished
goods
• Protects brand equity & consumer
welfare
• Reduces exposure to unwarranted
recall expenses
• Secures supply chain integrity –
support for safe expansion into new
geographies
Authentication Technology
PolyOne Corporation Page 30
• Color harmonization across
15 unique color-and-polymer
combinations
• Eliminated need for multiple pre-
colored materials
• Reduced Land Rover’s working
capital
2015 Range Rover Evoque Interior
PolyOne Corporation Page 31
• Reduced health and
environmental impact
• System cost reduction
• Radiation-shielding
performance
• Parts consolidation
• Design freedom
CT Scanner
PolyOne Corporation Page 32
Metal Replacement Solutions
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with
fewer parts
• Weight reduction
• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 33
Next Generation Solar Charger
• Ginkgo Solar Tree charger utilizing our
unique reSound™ material
• reSound™ is a durable material
consisting of 50% bio-derived plastic
and 50% traditional petroleum-based
plastic
• Use of reSound™ reduced the carbon
footprint for this product by 35%
• reSound™ Is classified as a PolyOne
Sustainable SolutionSM PolyOne Sustainable
SolutionSM
PolyOne Corporation Page 34
High-Barrier Packaging Containers
• Capability to extrude up to 13
layers
• Strong oxygen and moisture
vapor transmission protection
• Can be made symmetrical or
asymmetrical to meet
customized needs of broad
variety of applications
• Barrier protection and superior
sensory properties
PolyOne Corporation Page 35
Aerospace Applications
• Leading provider of specialty materials
for the aerospace industry
• Typical applications
Mil-spec aircraft windows, canopies,
windscreens, instrument panels,
wingtip lenses
Interior – gallery furnishings, tray
tables, arm rests, trim strips, joint/edge
coverings
• Benefits:
High impact strength
Resistant to UV rays
Flame and smoke compliance
Easy to clean with aggressive cleaners;
anti-microbial grades available
Range of sizes, thicknesses, colors, etc.
1
Schedule I
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented
in accordance with U.S.
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; employee separation costs resulting from personnel reduction programs, plant phase-in costs, executive separation agreements; asset impairments; mark-to-market
adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties, remediation costs and related
insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and
losses on facility or property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of
the performance period; unrealized gains and losses from foreign currency option contracts; one-time, non-recurring items; and the effect of changes in accounting principles or other such
laws or provisions affecting reported results.
(2) Tax adjustments include the net tax expense (benefit) from one-time income tax items and deferred income tax valuations allowance adjustments.
3
Net debt to adjusted EBITDA is calculated as follows:
Six Months
Ended
Twelve Months
Ended Six Months Ended
Trailing Twelve
Months (TTM)
Ended
(In millions) March 31, 2014 December 31, 2014 March 31, 2015 March 31, 2015
Short-term portion and current portion of
long-term debt $ 12.7 $ 61.8 $ 61.8
Long-term debt 967.9 962.0 996.4
Less: Cash and cash equivalents (261.5) (238.6) (236.8)
Net Debt $ 719.1 785.2 821.4
Income before income taxes $ 73.2 $ 88.4 $ 116.7 $ 131.9
Interest expense, net 31.2 62.2 32.3 63.3
Depreciation and amortization 72.2 123.9 50.1 101.8
Special items, impact on operating income 62.2 164.9 21.2 123.9
Accelerated depreciation included in special
items (20.5) (23.1) (0.3) (2.9)
Adjusted EBITDA $ 218.3 $ 416.3 $ 220.0 $ 418.0
Net Debt/TTM Adjusted EBITDA 2.0
POL IR Presentation - Jefferies Industrials Conference 2015 website
��PolyOne Investor Presentation�Jefferies 2015 Industrials Conference�August 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
Strategy and Execution Drive Results
Proof of Performance & 2020 Goals
Platinum Vision: Pathway to Accelerated Growth
Innovation Drives Earnings Growth
Megatrends Aligned with Key End Markets
A Rich Pipeline of Opportunity
Debt Maturities & Pension Funding
Free Cash Flow and Strong Balance Sheet �Fund Investment / Shareholder Return
PolyOne Core Values
Why Invest In PolyOne?