https://www.avient.com/sites/default/files/2024-11/AVNT M11 Investor Presentation_w_Non-GAAP.pdf
A reconciliation of these measures to their most directly comparable GAAP measures is provided in the tables below.
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 38.2 $ 0.41 $ 5.1 $ 0.06
Special items, after-tax 6.6 0.07 32.0 0.35
Amortization expense, after-tax 15.0 0.16 15.2 0.16
Adjusted net income / EPS $ 59.8 $ 0.65 $ 52.3 $ 0.57
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Three Months Ended
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 38.7 $ 5.1
Income tax expense (benefit) 11.3 (0.1)
Interest expense, net 26.9 30.3
Depreciation & amortization 45.1 46.4
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales 15.9 % 16.3 %
1
2024 2023
Sales:
Color, Additives and Inks $ 521.5 $ 486.5
Specialty Engineered Materials 294.6 267.9
Corporate (0.9) (0.7)
Sales $ 815.2 $ 753.7
Operating income:
Color, Additives and Inks $ 75.5 $ 64.5
Specialty Engineered Materials 36.4 30.3
Corporate (34.7) (60.5)
Operating income $ 77.2 $ 34.3
Depreciation & amortization:
Color, Additives and Inks $ 21.9 $ 24.6
Specialty Engineered Materials 20.7 20.5
Corporate 2.5 1.3
Depreciation & amortization $ 45.1 $ 46.4
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 97.4 $ 89.1
Specialty Engineered Materials 57.1 50.8
Corporate (32.2) (59.2)
Other (expense) income, net (0.3) 1.0
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 18.7 % 18.3 %
Specialty Engineered Materials 19.4 % 19.0 %
Year Ended
December 31, 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS
Net income from continuing operations attributable to Avient shareholders $ 75.8 $ 0.83
Special items, after-tax 79.3 0.86
Amortization expense, after-tax 61.5 0.67
Adjusted net income / EPS $ 216.6 $ 2.36
Adjusted Free Cash Flow Calculation December 31, 2023
Cash provided by operating activities $ 201.6
Capital expenditures (119.4)
Free cash flow 82.2
Taxes paid on gain on sale of business 104.1
Adjusted free cash flow $ 186.3
Year Ended
December 31, 2023
Sales:
Color, Additives and Inks $ 2,007.4
Specialty Engineered Materials 1,138.2
Corporate (2.8)
Sales $ 3,142.8
Operating income:
Color, Additives and Inks $ 259.9
Specialty Engineered Materials 142.5
Corporate (205.6)
Operating income $ 196.8
Depreciation & amortization:
Color, Additives and Inks $ 98.3
Specialty Engineered Materials 81.5
Corporate 9.0
Depreciation & amortization $ 188.8
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 358.2
Specialty Engineered Materials 224.0
Corporate (196.6)
Other income, net 5.8
EBITDA from continuing operations 391.4
Special items, before tax 114.6
Interest expense included in special items (2.3)
Depreciation & amortization included in special items (1.9)
Adjusted EBITDA $ 501.8
Adjusted EBITDA as a percent of sales 16.0 %
3
Avient M11 Investor Presentation.pdf
IR Deck - AVNT-2024.09.30 (M11) - 11.05.24 11AM.pdf
Attachment
https://www.avient.com/sites/default/files/2020-08/oncolor-brilliant-metallics-product-bulletin.pdf
OnColor™ Brilliant Metallic Colorants
OnColor™ Brilliant Metallic Colorants are highly
reflective colorants that rely on premium coatings
grade special-effect pigments to produce a striking
look for polymer parts.
Using a proprietary process, these particles are
formed in a way that captures more light and
creates a higher reflection value.
AVIENT MAKES NO WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the
information.
https://www.avient.com/sites/default/files/2020-08/oncolor-brilliant-metallics-product-bulletin_0.pdf
OnColor™ Brilliant Metallic Colorants
OnColor™ Brilliant Metallic Colorants are highly
reflective colorants that rely on premium coatings
grade special-effect pigments to produce a striking
look for polymer parts.
Using a proprietary process, these particles are
formed in a way that captures more light and
creates a higher reflection value.
AVIENT MAKES NO WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the
information.
https://www.avient.com/industries/consumer/consumer-discretionary/home-household/office-supplies
Automotive Lighting IR Lens
Edgetek™ ET9400-8005 IR Formulation provided color customization for automotive lighting IR lens of sensor
https://www.avient.com/investor-center/news/avient-announces-third-quarter-2023-results
respectively, to reflect our current projections as well as weaker foreign exchange.
This reflects the confidence we have in our ability to continue to deliver consistent free cash flow, but more importantly to drive long-term earnings growth from the areas of focus we highlighted at our Sustainability Day in September."
https://www.avient.com/investor-center/news/polyone-announces-second-quarter-2016-results
$0.74 in the prior year, reflecting the favorable impact of certain tax benefits recognized in 2015
Our ability to reprice is reflective of the financial health and creditor confidence in our company."
https://www.avient.com/news/polyone-announces-second-quarter-2014-results
This marks our 19th consecutive quarter of year-over-year double-digit adjusted EPS growth – an impressive accomplishment reflecting the power and sustainability of our strategy."
Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principal or discontinued operations.
https://www.avient.com/sites/default/files/2023-04/Impress High Gloss Metallic Effect Colorants Product Bulletin.pdf
The additive
creates tiny bubbles inside the semi-crystalline
resins which, when stretched during blow molding,
reflect light and shine for a high gloss, metallic
appearance.
SUMMARY
High gloss metallic effect color concentrates for
polymer packaging offer a reflective look and sheen
with unlimited color options and gloss effects that
will grab consumer attention at point-of-sale.
AVIENT MAKES NO WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the
information.
https://www.avient.com/sites/default/files/2020-09/sustainabilityreport2018.pdf
A
zero recordable injury goal reflects PolyOne’s focus on
the People aspect of our 4P sustainability cornerstones.
Our score reflects PolyOne’s clear
commitment to workplace equality, with respect to policies, benefits
and practices.
With each customer success story, there is a potential case study that
allows us to step back, self-reflect, learn and get better.
https://www.avient.com/sites/default/files/resources/TRA%2520-%25202016%2520Plan%2520Summary.pdf
Please note that any changes made here will only be reflected in this plan summary.
To ensure
updates reflected in future reports, please ensure the information is updated in SWIM.
Please note that any changes made here will only be reflected in this plan summary.