https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
Patterson added, “Our Color, Additives and Inks segment also delivered record operating income of $58 million during the fourth quarter.
Customer collaboration and feedback has been extremely positive, and cultural integration has been excellent, as evidenced by the employee engagement scores that clearly reflect Avient is a great place to work.
Patterson reflected on 2020 saying, “It was a historic year where we brought two global leaders together to create an even stronger company – now known as Avient.
https://www.avient.com/sites/default/files/2022-09/Avient Pro Forma Financial Information.pdf
To provide comparable results, the company references “pro forma” financial metrics, which include the business results of Avient Protective Materials for periods prior to the Acquisition Date, as if the transaction occurred on January 1, 2021 and reflect Distribution as a discontinued operation.
Additionally, Adjusted EPS excludes the impact of special items and amortization expense associated with intangible assets. 2 PRO FORMA 2021 TO 2022 BRIDGE 3 2021 EPS from Continuing Operations 1.69$ Pro Forma & Special Items 1.33 Proforma 2021 Adjusted EPS 3.02$ FX Impact (0.22) China Lockdowns / Russia Import Sales (0.24) Outdoor High Performance (0.13) Dyneema 0.06 Color, Additives and Inks 0.38 Legacy Specialty Engineered Materials 0.22 Other 0.01 Proforma 2022 Adjusted EPS 3.10$ Constant Currency Sales Sales COLOR, ADDITIVES AND INKS Q1 Q2 Q3 Q4 FY 4% Q1 Q2 Q3 Q4 FY 4% 7% (4%) (9%) 6% (10%) 0% 1% 2% Constant currency reflects prior year results restated at current year foreign exchange rates Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 7% 10% 4% (3%) 12% (6%) 5% 6% 9% 610 650 624 649 587 565 581 526 2,402 2,390 589 650 589 649 543 565 545 526 2,266 2,390 116 121 112 119 93 95 88 79 409 414 113 121 106 119 87 95 84 79 390 414 Constant Currency EBITDA EBITDA 10% 4 Constant Currency EBITDA Sales Q1 Q2 Q3 Q4 FY (1%) PRO FORMA SPECIALTY ENGINEERED MATERIALS Q1 Q2 Q3 Q4 FY 16%8% (8%) (8%) 3% (6%) (6%) (2%) 2% EBITDA Constant Currency Sales Constant currency reflects prior year results restated at current year foreign exchange rates Q1 Q2 Q3 Q4 FY 4% Q1 Q2 Q3 Q4 FY 20%12% (1%) (2%) 5% (1%) (2%) 3% 6% 314 338 348 343 325 300 321 295 1,308 1,276 303 338 329 343 303 300 301 295 1,236 1,276 67 78 75 77 70 66 66 62 278 283 65 78 73 77 67 66 63 62 268 283 5 Constant Currency Adjusted EPS Adjusted EPS PRO FORMA AVIENT Q1 Q2 Q3 Q4 FY 10% (3%) (21%) 3% Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 9% 5% 7% (5%) (9%) (1%) (1%) (12%) 1% Sales Constant Currency Sales Constant currency reflects prior year results restated at current year foreign exchange rates Q1 Q2 Q3 Q4 FY 17% 8% (14%) 11% Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 14% 10% 11% 2% (3%) 5% 8% (5%) 7% EBITDA Constant Currency EBITDA 925 987 973 992 912 867 902 823 3,712 3,669 893 987 919 992 847 867 845 823 3,504 3,669 161 176 164 172 142 141 133 117 600 606 155 176 157 172 131 141 123 117 566 6068% 2% 0.84 0.98 0.87 0.96 0.70 0.68 0.61 0.48 3.02 3.10 0.79 0.98 0.82 0.96 0.63 0.68 0.56 0.48 2.80 3.10 17% 24% 6 Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS Net income from continuing operations $ 64.7 $ 60.4 Net income attributable to noncontrolling interests (0.3) (0.4) Net income from continuing operations attributable to Avient shareholders $ 64.4 $ 0.70 $ 60.0 $ 0.65 Special items, after tax $ 6.4 $ 0.07 $ 2.6 $ 0.03 APM pro forma adjustments 2.6 0.03 (3.1) (0.03) Amortization expense, after tax 17.4 0.19 17.9 0.19 Adjusted pro forma net income / EPS $ 90.8 $ 0.98 $ 77.4 $ 0.84 Weighted average diluted shares 92.3 92.2 Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS Net income from continuing operations $ 62.8 $ 50.2 Net income attributable to noncontrolling interests — (0.6) Net income from continuing operations attributable to Avient shareholders $ 62.8 $ 0.68 $ 49.6 $ 0.54 Special items, after tax $ 3.2 $ 0.03 $ 11.7 $ 0.13 APM pro forma adjustments 5.2 0.06 1.4 0.02 Amortization expense, after tax 17.2 0.19 17.8 0.19 Adjusted pro forma net income / EPS $ 88.4 $ 0.96 $ 80.5 $ 0.87 Weighted average diluted shares 92.1 92.4 Three Months Ended September 30, 2021 Reconciliation to Condensed Consolidated Statements of Income Avient EPS Net income from continuing operations $ 33.4 Net income attributable to noncontrolling interests 0.3 Net income from continuing operations attributable to Avient shareholders $ 33.7 $ 0.37 Special items, after tax $ 11.7 $ 0.13 APM pro forma adjustments 1.5 0.02 Amortization expense, after tax 17.6 0.19 Adjusted pro forma net income / EPS $ 64.5 $ 0.70 Weighted average diluted shares 92.2 Adjusted EPS may not recalculate due to rounding. 1 Three Months Ended December 31, 2021 Year Ended December 31, 2021 Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS Net income from continuing operations $ 11.2 $ 155.2 Net income attributable to noncontrolling interests 0.9 0.2 Net income from continuing operations attributable to Avient shareholders $ 12.1 $ 0.13 $ 155.4 $ 1.69 Special items, after tax $ 24.0 $ 0.26 $ 50.0 $ 0.54 APM pro forma adjustments 2.5 0.03 1.6 0.02 Amortization expense, after tax 17.8 0.19 71.1 0.77 Adjusted pro forma net income / EPS $ 56.4 $ 0.61 $ 278.1 $ 3.02 Weighted average diluted shares 92.4 92.1 Reconciliation of Color, Additives and Inks EBITDA Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022 Operating Income 88.8 86.3 66.8 61.2 303.1 94.5 93.6 Depreciation and amortization 27.4 25.3 26.6 26.4 105.7 26.0 25.9 EBITDA $ 116.2 $ 111.6 $ 93.4 $ 87.6 $ 408.8 $ 120.5 $ 119.5 Reconciliation of Specialty Engineered Materials EBITDA Q1 2021 Q2 2021 Q3 2021 SEM Pro forma APM Pro forma SEM SEM Pro forma APM Pro forma SEM SEM Pro forma APM Pro forma SEM Operating Income 32.6 9.1 41.7 35.8 13.9 49.7 30.0 15.2 45.2 Depreciation and amortization 7.8 17.5 25.3 8.1 17.3 25.4 7.9 17.1 25.0 EBITDA $ 40.4 $ 26.6 $ 67.0 $ 43.9 $ 31.2 $ 75.1 $ 37.9 $ 32.3 $ 70.2 Reconciliation of Specialty Engineered Materials EBITDA Q4 2021 YTD 2021 SEM Pro forma APM Pro forma SEM SEM Pro forma APM Pro forma SEM Operating Income 27.1 11.7 38.8 125.5 49.9 175.4 Depreciation and amortization 8.0 18.9 26.9 31.8 70.8 102.6 EBITDA $ 35.1 $ 30.6 $ 65.7 $ 157.3 $ 120.7 $ 278.0 2 Reconciliation of Specialty Engineered Materials EBITDA Q1 2022 Q2 2022 SEM Pro forma APM Pro forma SEM SEM Pro forma APM Pro forma SEM Operating Income 38.3 15.4 53.7 35.2 17.7 52.9 Depreciation and amortization 7.8 16.6 24.4 7.7 16.6 24.3 EBITDA $ 46.1 $ 32.0 $ 78.1 $ 42.9 $ 34.3 $ 77.2 Reconciliation of Avient consolidated pro forma EBITDA Q1 2021 Q2 2021 Q3 2021 Avient Pro forma APM Pro forma Avient Avient Pro forma APM Pro forma Avient Avient Pro forma APM Pro forma Avient Net income from continuing operations 60.4 (3.1) 57.3 50.2 1.4 51.6 33.4 1.5 34.9 Income tax expense 16.3 1.1 17.4 13.8 1.3 15.1 2.0 2.5 4.5 Interest expense 19.3 11.1 30.4 19.5 11.2 30.7 19.0 11.2 30.2 Depreciation and amortization 36.9 17.5 54.4 33.6 17.3 50.9 36.6 17.1 53.7 EBITDA 132.9 26.6 159.5 117.1 31.2 148.3 91.0 32.3 123.3 Special items, before tax 2.4 — 2.4 14.2 — 14.2 19.9 — 19.9 Depreciation included in special items (0.6) — (0.6) 1.4 — 1.4 (0.9) — (0.9) Adjusted EBITDA $ 134.7 $ 26.6 $ 161.3 $ 132.7 $ 31.2 $ 163.9 $ 110.0 $ 32.3 $ 142.3 Reconciliation of Avient consolidated pro forma EBITDA Q4 2021 YTD 2021 Avient Pro forma APM Pro forma Avient Avient Pro forma APM Pro forma Avient Net income from continuing operations 11.2 2.5 13.7 155.2 1.6 156.8 Income tax expense 16.2 (1.9) 14.3 48.3 3.7 52.0 Interest expense 17.5 11.1 28.6 75.3 44.6 119.9 Depreciation and amortization 37.9 18.9 56.8 145.0 70.8 215.8 EBITDA 82.8 30.6 113.4 423.8 120.7 544.5 Special items, before tax 20.6 — 20.6 57.1 — 57.1 Depreciation included in special items (1.6) — (1.6) (1.7) — (1.7) Adjusted EBITDA $ 101.8 $ 30.6 $ 132.4 $ 479.2 $ 120.7 $ 599.9 3 Reconciliation of Avient consolidated pro forma EBITDA Q1 2022 Q2 2022 Avient Pro forma APM Pro forma Avient Avient Pro forma APM Pro forma Avient Net income from continuing operations 64.7 2.6 67.3 62.8 5.2 68.0 Income tax expense 20.0 1.7 21.7 22.7 1.4 24.1 Interest expense 16.9 11.1 28.0 16.2 11.1 27.3 Depreciation and amortization 37.6 16.6 54.2 36.3 16.6 52.9 EBITDA 139.2 32.0 171.2 138.0 34.3 172.3 Special items, before tax 6.6 — 6.6 0.9 — 0.9 Depreciation included in special items (2.1) — (2.1) (1.1) — (1.1) Adjusted EBITDA $ 143.7 $ 32.0 $ 175.7 $ 137.8 $ 34.3 $ 172.1 Reconciliation of Specialty Engineered Pro Forma Sales Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022 Sales 214.7 238.9 231.7 226.3 911.6 243.1 242.3 Pro forma APM 98.9 108.8 93.8 94.9 396.4 94.8 100.5 Pro forma sales $ 313.6 $ 347.7 $ 325.5 $ 321.2 $ 1,308.0 $ 337.9 $ 342.8 Reconciliation of Avient Pro Forma Sales Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022 Sales 826.0 864.5 818.0 807.1 3,315.6 892.2 891.0 Pro forma APM 98.9 108.8 93.8 94.9 396.4 94.8 100.5 Pro forma sales $ 924.9 $ 973.3 $ 911.8 $ 902.0 $ 3,712.0 $ 987.0 $ 991.5 4 IR Slides V17 - 9.26 324pm IR Deck - AVNT-2022.09.27 Pre Release v2
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
Avient reflects 2022 estimated revenue of $5,100M and estimated CAPEX of $90M (excludes IT system upgrade of $15M and synergy capture CAPEX of $10M) Avient PF reflects 2022 modelled revenue of $3,740 and estimated CAPEX of $120M to reflect Dyneema run-rate CAPEX, as well as potential sale of Distribution.
PEERS Avient today reflects 2022 estimated EBITDA of $635M and revenue of $5,100.
Avient pro forma reflects 2022 estimated EBITDA of $660M and revenue of $3,740M.
https://www.avient.com/sites/default/files/2024-11/Avient Wire _ Cable Industry Bulletin.pdf
DURABILITY Extended Life, Chemical Resistance, High & Low Temperature Performance, Flexibility, UV Stability, Tensile Strength SOLUTIONS: Cross-Linkable Formulations, UV & Light Blocking Additives, High-Temperature Crosslinked Formulations REGULATORY SPECIFICATIONS Quality Assurance, UL, CSA, CPR Compliant SOLUTIONS: Flame Retardants & Compliant Colorants, Product Authentication Technologies, Flame Retardant Engineered Polymers, LSFOH Flame Retardant Formulations PROCESSING EFFICIENCY Reduced Part Weight, High Extrusion Speeds, Ambient Curing SOLUTIONS: Cross-Linkable Formulations, Chemical Foaming Agents & Additives, Processing Enhancement Additives, Laser Marking Additives IMPROVED SAFETY Flame Performance, Property Protection, Heat & Chemical Resistance SOLUTIONS: Flame Retardant Engineered Polymers, Wire & Cable Colorants, Antimicrobial Additives, Electrical Performance Additives POWER CABLES https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives/cesa-light-additives https://www.avient.com/products/engineered-polymer-formulations/high-temperature-polymer-formulations/colorant-chromatics-crosslinked-formulations https://www.avient.com/products/polymer-additives/flame-retardants-and-compliant-solutions https://www.avient.com/products/polymer-additives/anti-counterfeiting/cesa-percept-authentication-technologies https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-low-smoke-and-fume-non-halogen-formulations https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/polymer-additives/foaming-agents https://www.avient.com/products/polymer-additives/processing-enhancement-additives https://www.avient.com/products/polymer-additives/laser-marking-additives https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-wire-cable https://www.avient.com/products/polymer-additives/repellant-antimicrobial-additives/cesa-withstand-antimicrobial-additives https://www.avient.com/products/polymer-additives/electrical-performance-additives DURABILITY & AESTHETICS Extended Life, High Material Flexibility, Chemical Resistance, UV Stability, Tensile Strength, Laser Markable Colors SOLUTIONS: Flame Retardant Engineered Polymers, Colorants for Wire & Cable, UV & Light Blocking Additives, Antimicrobial Additives, Laser Marking Additives FIRE SAFETY Flame & Fire Performance, Low Dripping, Property Protection, Heat & Chemical Resistance SOLUTIONS: Flame Retardant Additives, Flame Retardant Engineered Polymers REGULATORY SPECIFICATIONS BEAD, UL, CSA, and CPR Compliant, Quality Assurance SOLUTIONS: Engineered Fiber Products, Flame Retardants & Compliant Colorants, Product Authentication Technologies, Flame Retardant Engineered Polymers LOW SMOKE & FUME NON-HALOGEN (LSFOH) High Flame Retardancy, Low Smoke, Fume, Corrosiveness & Toxicity, Smoke Mitigation SOLUTIONS: LSFOH Flame Retardant Formulations, Non-Halogenated FR Additives DATA CABLES SPEED & EFFICIENCY Faster Deployment, Lower Labor & Manufacturing Cost, High Extrusion Speeds SOLUTIONS: Chemical Foaming Agents & Additives, Processing Enhancement Additives, Laser Marking Additives, Water Blocking & Absorbing Yarn, Ripcords for Fiber Optic Cable ELECTRIC & THERMAL MANAGEMENT Low-Dielectric Performance, FEP Alternative, Data Integrity, Data Performance SOLUTIONS: Flame Retardant Engineered Polymers, Flame Retardants & Compliant Colorants, Electrical Performance Additives LIGHTWEIGHTING Dielectric Strength Members, Weight Reduction SOLUTIONS: Chemical Foaming Agents & Additives, Synthetic Fiber Strength Members, Water Blocking & Absorbing Yarn HIGH-TEMPERATURE SOLUTIONS Pre-Colored Formulations, Laser Markable Colors, Standard & Custom Colors, Conductivity SOLUTIONS: High-Temperature Colorants & Pre-colored Solutions, High Temperature Marking Inks, Colorants & Additives, Conductive High-Temperature Formulations https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-wire-cable https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives https://www.avient.com/products/polymer-additives/repellant-antimicrobial-additives/cesa-withstand-antimicrobial-additives https://www.avient.com/products/polymer-additives/laser-marking-additives https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-flame-retardant-additives https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products https://www.avient.com/products/polymer-additives/flame-retardants-and-compliant-solutions https://www.avient.com/products/polymer-additives/anti-counterfeiting/cesa-percept-authentication-technologies https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-low-smoke-and-fume-non-halogen-formulations https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-flame-retardant-additives https://www.avient.com/products/polymer-additives/foaming-agents https://www.avient.com/products/polymer-additives/processing-enhancement-additives https://www.avient.com/products/polymer-additives/laser-marking-additives https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/water-blocking-absorbing-yarn https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/ripcords-fiber-optic-cable https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations https://www.avient.com/products/polymer-additives/flame-retardants-and-compliant-solutions https://www.avient.com/products/polymer-additives/electrical-performance-additives https://www.avient.com/products/polymer-additives/foaming-agents https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/strength-members https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/water-blocking-absorbing-yarn https://www.avient.com/products/polymer-colorants/high-temperature-color-concentrates https://www.avient.com/products/printing-and-marking-inks/colorant-chromatics-marking-inks https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable https://www.avient.com/products/engineered-polymer-formulations/conductive-signal-radiation-shielding-formulations/colorant-chromatics-conductive-formulations-0 POWER CABLES SOLUTIONS AVIENT TECHNOLOGIES Cross-Linkable Formulations Syncure™ XLPE Cross-linkable Polyethylene Formulations ECCOH™ XL Cross-Linkable Formulations Colorant Chromatics™ Crosslinked Formulations UV & Light Blocking Performance UV & Light Blocking Additives ECCOH™ LSFOH UV Formulations Chemical Foaming Agents & Additives Excelite™ Chemical Foaming Additives Hydrocerol™ Chemical Foaming Agents Processing Enhancement Additives Cesa™ Processing Additives Laser Marking Additives Cesa™ Laser Additives Colorant Chromatics™ UV Laser Marking Technology Flame Retardants & Compliant Colorants Cesa™ Flame Retardant Additives OnColor™ UL 94 Colorants Product Authentication Technologies Cesa™ Percept™ Authentication Technologies Flame Retardant Engineered Polymers Syncure™ XLPE Cross-linkable Polyethylene Formulations ECCOH™ Low Smoke and Fume Non-Halogen Formulations ECCOH™ XL Cross-Linkable Formulations Wire & Cable Colorants OnColor™ Colorants for Wire & Cable Antimicrobial Additives Cesa™ WithStand™ Antimicrobial Additives Electrical Performance Additives Electrical Performance Additives https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations/syncure-xlpe-cross-linkable-polyethylene-formulations https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-xl-cross-linkable-solutions https://www.avient.com/products/engineered-polymer-formulations/high-temperature-polymer-formulations/colorant-chromatics-crosslinked-formulations https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-low-smoke-and-fume-non-halogen-formulations https://www.avient.com/products/polymer-additives/foaming-agents/excelite-chemical-foaming-additives https://www.avient.com/products/polymer-additives/foaming-agents/hydrocerol-chemical-foaming-agents https://www.avient.com/products/polymer-additives/processing-enhancement-additives https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-laser-additives https://www.avient.com/products/polymer-additives/laser-marking-additives/colorant-chromatics-uv-laser-marking-technology https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-flame-retardant-additives https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-ul-94-colorants https://www.avient.com/products/polymer-additives/anti-counterfeiting/cesa-percept-authentication-technologies https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations/syncure-xlpe-cross-linkable-polyethylene-formulations https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-low-smoke-and-fume-non-halogen-formulations https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-xl-cross-linkable-solutions https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-wire-cable https://www.avient.com/products/polymer-additives/repellant-antimicrobial-additives/cesa-withstand-antimicrobial-additives https://www.avient.com/products/polymer-additives/electrical-performance-additives DATA CABLES SOLUTIONS AVIENT TECHNOLOGIES Flame Retardant Engineered Polymers ECCOH™ Low Smoke and Fume Non-Halogen Formulations Maxxam™ FR Flame Retardant Polyolefin Formulations Maxxam™ SY Foamable Flame Retardant Formulations UV & Light Blocking Performance UV & Light Blocking Additives ECCOH™ LSFOH UV Formulations Chemical Foaming Agents & Additives Excelite™ Chemical Foaming Additives Hydrocerol™ Chemical Foaming Agents Processing Enhancement Additives Cesa™ CTR Additives Laser Marking Additives Cesa™ Laser Additives Colorant Chromatics™ UV Laser Marking Technology Ripcords for Fiber Optic Cable Fiber-Line™ Ripcords Water Blocking & Absorbing Yarn Swellcoat™ Water Blocking & Absorbing Yarn Flame Retardants & Compliant Colorants Cesa™ Flame Retardant Additives OnColor™ UL 94 Colorants Product Authentication Technologies Cesa™ Percept™ Authentication Technologies Engineered Fiber Products Fiber-Line™ Engineered Fibers Synthetic Fiber Strength Members Fiber-Line™ Synthetic Fiber Strength Members Antimicrobial Additives Cesa™ WithStand™ Antimicrobial Additives Colorants for Wire & Cable OnColor™ Colorants for Wire & Cable Electrical Performance Additives Cesa™ Conductive Additives Cesa™ Stat Antistatic Additives LSFOH Flame Retardant Formulations ECCOH™ Low Smoke and Fume Non-Halogen Formulations 1.844.4AVIENT www.avient.com Copyright © 2024, Avient Corporation.
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DATA CABLES SOLUTIONS AVIENT TECHNOLOGIES Non-Halogenated FR Additives Cesa™ Flame Retardant Additives Colorants & Additives Smartbatch™ Combination Colorants & Additives OnColor™ Colorants for Wire & Cable High-Temperature Colorants & Pre-Colored Solutions Colorant Chromatics™ ECTFE/ETFE Colorants Colorant Chromatics™ FEP Colorants Colorant Chromatics™ PEEK and PEI-Siloxane (SILTEM™ resin) Colorants & Pre-colored Solutions Colorant Chromatics™ PFA/MFA Colorants Colorant Chromatics™ PVDF Colorants Colorant Chromatics™ Reinforced Formulations High-Temperature Marking Inks Colorant Chromatics™ Marking Inks Conductive High-Temperature Formulations Colorant Chromatics™ Conductive Formulations https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-low-smoke-and-fume-non-halogen-formulations https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations/maxxam-fr-flame-retardant-polyolefin-formulations https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations/maxxam-sy-foamable-flame-retardant-formulations https://www.avient.com/products/polymer-additives/uv-and-light-blocking-additives https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-low-smoke-and-fume-non-halogen-formulations https://www.avient.com/products/polymer-additives/foaming-agents/excelite-chemical-foaming-additives https://www.avient.com/products/polymer-additives/foaming-agents/hydrocerol-chemical-foaming-agents https://www.avient.com/products/polymer-additives/processing-enhancement-additives/cesa-ctr-additives https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-laser-additives https://www.avient.com/products/polymer-additives/laser-marking-additives/colorant-chromatics-uv-laser-marking-technology https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/ripcords-fiber-optic-cable https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/water-blocking-absorbing-yarn https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-flame-retardant-additives https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-ul-94-colorants https://www.avient.com/products/polymer-additives/anti-counterfeiting/cesa-percept-authentication-technologies https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products https://www.avient.com/products/fiber-line-engineered-fiber-solutions/fiber-line-engineered-fiber-products/strength-members https://www.avient.com/products/polymer-additives/repellant-antimicrobial-additives/cesa-withstand-antimicrobial-additives https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-wire-cable https://www.avient.com/products/polymer-additives/electrical-performance-additives/cesa-conductive-additives https://www.avient.com/products/polymer-additives/processing-enhancement-additives/cesa-stat-antistatic-additives https://www.avient.com/products/engineered-polymer-formulations/sustainable-formulations/eccoh-low-smoke-and-fume-non-halogen-formulations https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-flame-retardant-additives https://www.avient.com/products/polymer-colorants/color-additive-combination-masterbatches/smartbatch-combination-colorants-additives https://www.avient.com/products/polymer-colorants/solid-color-masterbatches/oncolor-wire-cable https://www.avient.com/products/polymer-colorants/fluoropolymer-color-concentrates/colorant-chromatics-ectfe/etfe-colorants https://www.avient.com/products/polymer-colorants/fluoropolymer-color-concentrates/colorant-chromatics-fep-colorants https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/colorant-chromatics-peek-and-pei-siloxane-colorants-pre-colored-solutions https://www.avient.com/products/polymer-colorants/fluoropolymer-color-concentrates/colorant-chromatics-pfa/mfa-colorants https://www.avient.com/products/polymer-colorants/fluoropolymer-color-concentrates/colorant-chromatics-pvdf-colorants https://www.avient.com/products/engineered-polymer-formulations/high-temperature-polymer-formulations/colorant-chromatics-reinforced-formulations-0 https://www.avient.com/products/printing-and-marking-inks/colorant-chromatics-marking-inks https://www.avient.com/products/engineered-polymer-formulations/conductive-signal-radiation-shielding-formulations/colorant-chromatics-conductive-formulations-0
https://www.avient.com/sites/default/files/2023-11/AVNT November IR Presentation.pdf
To provide comparable results, the company references “pro forma” financial metrics, which include the business results of Avient Protective Materials for periods prior to the Acquisition Date, as if the transaction occurred on January 1, 2021 and reflect Distribution as a discontinued operation.
Avient reflects 2023 adjusted EBITDA guidance of $500M and estimated run-rate CAPEX of $110M. 2023E (%) 27 78 89 84 82 80 77 88 81 76 70 69 60 54 (6) Av ie nt KW R FU L PP G AV Y R PM FM C C E EC L AS H H XL H U N EM N SC L Avient Specialty Formulators Other Specialty / Chemical Companies MULTIPLE EXPANSION Source: Peer data per Bloomberg as of October 27, 2023 Note: Avient reflects 2023 adjusted EBITDA guidance of $500M and closing share price of $31.18.
Avient 2011, 2018 and 2021 multiples reflect trailing 12 months EBITDA at December 31. 28 EV / 2023E EBITDA 6.5 8.5 11.0 8.9 12.0 11.9 10.9 9.9 8.2 16.3 13.8 11.9 9.6 9.5 9.5 9.2 7.7 20 11 20 18 20 21 O ct 20 23 AV Y R PM PP G KW R FU L EC L H XL SC L AS H FM C C E H U N EM N Avient Historic Multiple Avient Specialty Formulators Other Specialty / Chemical Companies AP P E N DI X 30 Performance Additives 16% Pigments 12% TiO2 10% Dyestuffs 2% Polyethylene 11% Nylon 6% Polypropylene 5% Styrenic Block Copolymer 5% Other Raw Materials 33% ~40% hydrocarbon based (Grey shaded materials are hydrocarbon based, includes portion of “Other Raw Materials”) Non-hydrocarbon based materials 2022 pro forma results for the acquisition of Avient Protective Materials RAW MATERIAL BASKET 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 $2,355M $402M $1,300M $272M Sales EBITDA Specialty Engineered Materials Color Additives and Inks $592M$3,653M (1) Transportation 9% Healthcare 8% 32 (1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs 2022 REVENUE | $2 .4 BILLION US & Canada 34% EMEA 38% Asia 20% Latin America 8% END MARKET REGION 33 Packaging 34% Consumer 21% Healthcare 8% Industrial 15% Transportation 8% Building & Construction 11% Telecommunications 1% Energy 2% COLOR, ADDITIVES & INKS 2022 PRO FORMA REVENUE | $1 .3 BILLION US & Canada 52% EMEA 35% Asia 13% 34 Packaging 5% Consumer 19% Healthcare 8%Industrial 16% Transportation 10% Telecommunications 10% Energy 9% Defense 15% Building & Construction 8% END MARKET REGION SPECIALTY ENGINEERED MATERIALS Packaging 32% Consumer 27% Healthcare 8% Industrial 14% Building & Construction 5% Telecommunications 3% Energy 1% Defense 1% Asia (18% of sales) Transportation 9% 2022 PROFORMA AVIENT REGIONAL SALES 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% 35 BY END MARKET Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except for per share data) Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability of results.
https://www.avient.com/products/polymer-colorants/colorant-dispersions/colorants-liquid-silicone-rubber
Silicone Colorants and Vinyl Plastisols for Stethoscopes
Provided silicone paste colorant dispersions and vinyl plastisols for harmonized color across materials
https://www.avient.com/resources-0?document_type=59&document_subtype=0&industry=0&product_family=0&product_name=0&op=FILTER RESULTS&form_id=resource_filter_form&page=25
Storage and Handling of Vinyl Plastisols
Proper handling and storage practices for vinyl plastisols to maximize shelf life
https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-aversive-technology
Non-Phthalate Vinyl Plastisols: CORE™
Plastisols that provide the durability and flexibility you need without phthalates
https://www.avient.com/sites/default/files/resources/PolyOne%25202013%2520Annual%2520Report.pdf
Global Color, Additives and Inks Global Color, Additives and Inks is a leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions.
Amounts shown here reflect such adjustments.
POLYONE CORPORATION 73 Global Color, Additives and Inks Global Color, Additives and Inks is a leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions.
https://www.avient.com/sites/default/files/resources/PolyOne%25202014%2520Annual%2520Report.pdf
Our success with Specialization reflects the importance we place on innovation.
Global Color, Additives and Inks Global Color, Additives and Inks is a leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions.
Global Color, Additives and Inks Global Color, Additives and Inks is a leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions.