https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.2
T RAN S FO R MAT IO NAL
OVE RV IE W
Avient Protective
Materials
Dyneema
®
RECENT TRANSACTIONS
Acquired Divested
$1.45 B $0.95 B
4
Distribution
UPDATED CAPITAL STRUCTURE
& LIQUIDITY
• Proceeds from completed
sale of Distribution used to
pay near-term maturing debt
to strengthen balance sheet
• Fixed/floating debt ratio of
~55/45
• Proven track record of
deleveraging following major
acquisitions through strong
free cash flow generation
• 2022 pro forma net
debt/adjusted EBITDA
expected to be 3.1x
$725 $725
$575 $500
$600
$525
$650
$650
$600
Capital Structure
Cash
$544
Undrawn
Revolver
$250
Liquidity
$3.15B
$2.40B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
2023 Notes
After Dyneema
Acquisition
After Distribution
Divestiture
$794M
(1) $250M reflects estimated undrawn revolver following the divestiture of Distribution
5
PREVIOUS TRANSACTIONS
Performance
Solutions
Products &
$0.8 B
COLOR
$1.4 B
Acquired (2020)Divested (2019)
6
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• $75 million of realized synergies anticipated in 2022
• Acquisition completed on July 1, 2020 for $1.45 billion.
Purchase price multiple rapidly declining on strength of
business and synergy capture
7
$133
$201
2019PF 2022E
7
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.4x
2019PF 2021 2022E w/ Full
Synergies
11.9%
16.3%
2019PF 2022E
EBITDA Margins
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
(1) Financial information is pro forma to include a full year of Clariant Color business
SUNBELT PVC Resins DSS
20 Acquisitions
$4.8B Investment
$2.7B of Annual
Revenue
5 Divestments
$2.3B Proceeds
TPE
PP&S
HISTORIC SPECIALIZATION THROUGH M&A
8
Distribution
DSM Protective
Materials
BOLT-ON ACQUISITION HISTORY
9
Commercial
Resources
Operating Income
Operating Margins
259
363
$40
$139
Established Acquisitions
(> 7 years)
+ 40% + 248% + 1300 bps
I N V E S T T O G R O W
SPECIALTY TRANSFORMATION
T O D A Y
46%
67%
86%
100%
0%
60%
80%
100%
2005 2010 2019 2021 2022 PF
%
o
f A
d
ju
st
ed
E
B
IT
D
A
• Commodity JVs
• Distribution
• Performance Products & Solutions
• Specialty Businesses
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and divestiture of Distribution
(1
)
(2)
10
Building &
43%
14%
Telecom.
2%
2006 2022 Pro Forma
21%
Building &
Telecom.
The Q3 2022 "Pro Forma
APM" adjustments reflect periods prior to the acquisition date and are preliminary estimates for APM’s results for the months of July and August.
3
AVNT Q3 2022 Earnings Presentation - Website v2.pdf
AVNT Q3 2022 Earnings Presentation - Website Update.pdf
AVNT Q3 2022 Earnings Presentation - Website.pdf
11.7 823am IR Deck - AVNT-2022.09.30 (002).pdf
https://www.avient.com/products/polymer-additives/barrier-and-scavenger-additives/colormatrix-triple-acetaldehyde-scavenger-pet
Product information and technical data sheet for ColorMatrix™ TripleA™ additive technology, which reduces Acetaldehyde levels in PET packaging
Mevopur™ Healthcare Functional Additives
Mevopur™ Bio-based Polymer Solutions
https://www.avient.com/sites/default/files/2021-09/avnt-seaport-conference-presentation.pdf
Avient acquired the Clariant Masterbatch business (CMB) on July 1, 2020 (the “Acquisition Date”).
We are better together through:
Keeping Safety First — PolyOne and Clariant are both ACC Responsible Care® companies,
and nothing is more important than the health, safety and well-being of our people.
Clariant MB acquired July 1, 2020
COLORWORKS
INSPIRATION.
https://www.avient.com/sites/default/files/2022-07/Avient 2021 Sustainability Report 7-26-22.pdf
We maintain data related to the environmental, health and safety
of our products in our product stewardship database.
Through this data, we create safety data sheet sand customer certification
statements for intended use and product safety improvements.
You can be certain that Avient meets or exceeds the
material safety data reporting requirements of your
country or region
https://www.avient.com/sites/default/files/2021-09/avnt-q2-2021-earnings-presentation.pdf
Avient acquired the Clariant Masterbatch business (CMB) on July 1, 2020 (the “Acquisition Date”).
Clariant MB acquired July 1, 2020
COLORWORKS
INSPIRATION.
Operating Income
$3,783
$4,300
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
Previous
Guidance
Current
Guidance
$3,783
$4,650
$308
$410
$308
$430
$1.93
$2.80
$1.93
$3.00
(1) (1)(1)
(1)(1) (1)
$442
$457
$580
$1.74
$1.93
$3.00
FULL YEAR 2019 – 2021 ORGANIC GROWTH
16
Sales Adjusted EBITDA
$3,981
$3,783
$4,650
+ 17%
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
(1)(1)
+ 31% + 72%
($ in millions)
2021E Adjusted EBITDA 580$
Free Cash Flow 280$
Total Debt 1,860
Less: Cash (755)
Net Debt 1,105$
2021E Net Debt / Adjusted EBITDA 1.9x
17
BALANCE SHEET
• Acquisition of Magna Colours completed on
July 1 – expands sustainable solutions
portfolio through water-based inks technology
• Deleveraging to 1.9x net debt to adjusted
EBITDA by the end of 2021
• Driven by record adjusted EBITDA
performance and strong free cash flow
generation from asset light business
• Future cash deployment: M&A, opportunistic
share repurchases and balance sheet /
continued leverage reduction
3.5x
2.7x
1.9x
Net Debt / Adjusted EBITDA
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
SUSTAINABILITY FOR A BETTER TOMORROW
• Revenue from sustainable solutions expected to
grow 14% in 2021 as our innovation efforts and
collaboration with customers continues to accelerate
• Investments centered around innovation and global
sustainability megatrends
o Enabling a circular economy – Technologies that
allow for increased use of post-consumer recycled
(PCR) material and improve recyclability of plastics
o Light-weighting – Composites and CAI applications
to reduce weight and material requirements, which
minimize energy and carbon emissions
o Eco-Conscious – Health and human safety
applications as well as Avient’s alternative materials
to replace lead, PVC, halogens, BPA and other less
eco-friendly options
2016 2017 2018 2019 2020PF**
Bio-polymers Reduced Energy Use Human Health & Safety
Sustainable Infrastructure VOC Reduction Recycle Solutions
Eco-Conscious Lightweighting
Revenue From Sustainable Solutions* 2016-2020
$405M
$455M
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
**2020 is Pro Forma to include full year of the Clariant Masterbatch business
$340M
$550M
$790M
19
Key Updates
• Includes Clariant Masterbatch performance
• Increases disclosures and ESG data
• Provides performance updates on 2030 Sustainability Goals
• Commits to operational carbon neutrality in 2050 and 100%
renewable energy by 2050 (RE 100)
• Announces Avient’s participation in U.N.
https://www.avient.com/sites/default/files/2021-12/AVNT 2021 Investor Day_0.pdf
Avient acquired the Clariant Color business on July 1, 2020 (the “Acquisition Date”).
Purchase price multiple rapidly declining on strength of
business and synergy capture
(1) Financial information is pro forma to include a full year of Clariant Color acquisition
11.9%
16.3%
Avient Corporation 12
People
C U L T U R E I S E V E R Y T H I N G
Avient Corporation 13
Community Service
7x Safer
than Industry Average
World-Class Safety
Leadership Development
Over $16 million
raised since 2010
Diversity & Inclusion
Future Growth in Excess of
GDP is Driven By:
Our company is positioned to sustainably grow at a rate that
exceeds GDP.
Peer data per Bloomberg market data as of December 2, 2021.
https://www.avient.com/sites/default/files/2024-08/Avient-2023-Sustainability-Report_5.pdf
We maintain data related to the
environmental, health and safety of our products in our product
stewardship database.
Through this data, we create safety data sheets and
customer certification statements for intended use and product
safety improvements.
You can be certain that Avient meets or exceeds the
material safety data reporting requirements of your
country or region
https://www.avient.com/sites/default/files/2024-08/Avient 2023 Sustainability Report_6.pdf
We maintain data related to the
environmental, health and safety of our products in our product
stewardship database.
Through this data, we create safety data sheets and
customer certification statements for intended use and product
safety improvements.
You can be certain that Avient meets or exceeds the
material safety data reporting requirements of your
country or region
https://www.avient.com/resource-center?document_subtype=0&document_type=59&form_id=resource_filter_form&industry=0&op=FILTER RESULTS&product_family=0&product_name=0&page=23
Technical Data Sheets
Safety Data Sheets
Safety Data Sheets
https://www.avient.com/resource-center?document_type=59&document_subtype=0&industry=0&product_family=0&product_name=0&op=FILTER RESULTS&form_id=resource_filter_form&page=23
Technical Data Sheets
Safety Data Sheets
Safety Data Sheets