https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202012%2520-%2520Global%2520Engineered%2520Materials.pdf
Nikrant Page 67 United States 36% Europe 36% Canada 2% Asia 20% Latin America 2011 Revenue: $0.6 Billion2011 Revenue: $0.6 Billion SolutionsSolutions At a Glance Global Specialty Engineered Materials Appliance 6% Building & Construction 3% Wire & Cable 14% Electrical & Electronics 14%Consumer 21% Packaging 5% Industrial 8% Misc. 3% HealthCare 5% Transportation 21% America 6% 2011 Revenue by Industry Segment2011 Revenue by Industry Segment 1.1% 1.3% 3.4% 5.1% 9.6% 8.0% 12-16% 2006 2007 2008 2009 2010 2011 2015 Operating Income % of Sales Target Expanding ProfitsExpanding Profits Page 68 Value Proposition • GSEM is a global leader providing complete specialty solutions encompassing innovative technologies and services to enable customer success Transformation Highlights • Dramatic turnaround of the Engineered Materials business through mix improvement and specialty focus Value Proposition and Transformation Highlights Global Specialty Engineered Materials improvement and specialty focus • GLS acquisition successfully integrated, having more than doubled earnings in 3 years • PolyOne culture and strategy now engrained worldwide • Expansion into healthcare with dedicated resources > $15B Addressable Market Page 69 • Polymer design, formulation and service expertise • Broad, global technology base and regional centers of excellence • Ten innovation centers around the world Key Differentiators Global Specialty Engineered Materials • Ten innovation centers around the world • Specialty brand leadership with PolyOne, GLS, NEU and ECCOH • Ability to leverage global key account team Page 70 From Volume Commodity-driven product portfolio To Value Specialty technology and solutions EM North America Transformation Volume Sales Gross Margin $ Mix Transformation – Executing the Strategy Global Specialty Engineered Materials 2006 2011 2006 2011 2006 2011 Page 71 $12 $29 Operating Income ($ in millions) • Provided access to new customers in specialized, high-growth markets such as healthcare and consumer • Strategic partner to many of the world’s best-known companies GLS Integration Success 16.9% 8.2% 2007 2011 2007 2011 Working Capital % of Sales • Complementary global footprint provided additional cross-selling opportunities • Opportunity to expand margins and drive working capital improvement while remaining customer-focused Page 72 $1.3 $27.6 2006 2011 Healthcare Revenue • Investment in dedicated healthcare team to drive penetration and growth • Leverage product portfolio globally & win specialty business Areas of Focus Global Specialty Engineered Materials $10.5 $117.9 2006 2011 Consumer Revenue 2006 2011globally & win specialty business in targeted markets • Aggressively commercialize specialty innovation platforms • Utilize our innovation centers to influence OEM design (Revenue in $ millions) Page 73 • Carbon Nanotube Formulations � Applications: Semiconductor equipment, hard drives � Customer benefits: Scrap cost reduction and clean conductivity • Thermally Conductive Solutions Applications: Sockets and bulb holders for LED lighting Key Innovations Global Specialty Engineered Materials � Applications: Sockets and bulb holders for LED lighting � Customer benefits: Cost reduction, energy saving, and design flexibility • FDA-Regulated TPEs � Applications: Food packaging seals, intravenous delivery systems, medical stoppers, prefilled syringes � Customer benefits: Clean and safe elastomers for highly regulated applications Page 74 Critical Imperatives and 2015 Goal Global Specialty Engineered Materials Critical Imperatives • Commercialize critical new technology platforms • Manage the mix as we continue to drive the transformation • Global translation of commercial successes 2015 Goal • 12 - 16% return on sales Page 75 Page 76
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Sales: Color, Additives and Inks $ 586.6 $ 493.8 $ 1,820.3 $ 977.1 Specialty Engineered Materials 233.6 174.1 690.7 518.2 Distribution 438.8 276.9 1,205.9 805.2 Corporate and eliminations (39.2) (20.3) (99.6) (55.4) Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 2,245.1 Gross margin: Color, Additives and Inks $ 172.1 $ 155.0 $ 563.0 $ 320.1 Specialty Engineered Materials 63.1 53.4 197.4 148.5 Distribution 39.9 30.8 119.3 91.6 Corporate and eliminations (19.7) (29.0) (33.2) (28.8) Gross margin $ 255.4 $ 210.2 $ 846.5 $ 531.4 Selling and administrative expense: Color, Additives and Inks $ 105.3 $ 104.5 $ 321.1 $ 196.8 Specialty Engineered Materials 31.4 28.7 94.2 84.5 Distribution 16.1 13.3 47.8 40.1 Corporate and eliminations 23.9 30.2 76.2 85.7 Selling and administrative expense $ 176.7 $ 176.7 $ 539.3 $ 407.1 Operating income: Color, Additives and Inks $ 66.8 $ 50.5 $ 241.9 $ 123.3 Specialty Engineered Materials 31.7 24.7 103.2 64.0 Distribution 23.8 17.5 71.5 51.5 Corporate and eliminations (43.6) (59.2) (109.4) (114.5) Operating income $ 78.7 $ 33.5 $ 307.2 $ 124.3 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 93.4 $ 76.8 $ 321.1 $ 171.3 Specialty Engineered Materials 39.6 32.2 127.0 86.7 Distribution 24.0 17.7 72.1 51.9 Corporate and eliminations (41.5) (56.7) (105.3) (108.3) Other income, net 1.4 1.5 4.1 12.6 EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2 13 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
Reconciliation of Pro Forma Adjusted Earnings per Share: Nine Months Ended September 30, 2020 Year Ended December 31, 2020 Net income from continuing operations attributable to Avient shareholders $ 57.8 $ 132.0 Special items, after tax 42.0 24.8 Adjusted net income from continuing operations excluding special items 99.8 156.8 Clariant MB pro forma adjustments to net income from continuing operations(2) 20.7 20.7 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 120.5 $ 177.5 Weighted average diluted shares 90.7 90.6 Pro forma impact to diluted shares from January 2020 equity offering(2) 2.9 1.5 Pro forma weighted average diluted shares 93.6 92.1 Adjusted EPS - excluding special items pro forma for Clariant MB acquisition $ 1.29 $ 1.93 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 15 Nine Months Ended September 30, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share: Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(2) Pro Forma Adjusted Avient Sales $ 2,245.1 $ — $ 2,245.1 $ 540.5 $ 2,785.6 Operating income $ 124.3 $ 59.1 $ 183.4 $ 45.0 $ 228.4 Interest expense, net (55.3) — (55.3) (18.1) (73.4) Pension settlement gain and mark-to-market adjustment — (6.9) (6.9) — (6.9) Other income, net 12.6 0.3 12.9 — 12.9 Income taxes (22.5) (10.5) (33.0) (6.2) (39.2) Net income attributable to noncontrolling interests (1.3) — (1.3) — (1.3) Net income from continuing operations attributable to Avient shareholders $ 57.8 $ 42.0 $ 99.8 $ 20.7 $ 120.5 Weighted average diluted shares 90.7 Impact to diluted shares from January 2020 equity offering 2.9 Pro forma weighted average diluted shares 93.6 Pro forma adjusted EPS $ 1.29 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 16 Reconciliation of EBITDA by Segment Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Operating income: Color, Additives and Inks $ 66.8 $ 50.5 $ 241.9 $ 123.3 Specialty Engineered Materials 31.7 24.7 103.2 64.0 Distribution 23.8 17.5 71.5 51.5 Corporate and eliminations (43.6) (59.2) (109.4) (114.5) Operating income $ 78.7 $ 33.5 $ 307.2 $ 124.3 Items below OI in Corporate: Other income, net $ 1.4 $ 1.5 $ 4.1 $ 12.6 Depreciation & amortization: Color, Additives and Inks $ 26.6 $ 26.3 $ 79.2 $ 48.0 Specialty Engineered Materials 7.9 7.5 23.8 22.7 Distribution 0.2 0.2 0.6 0.4 Corporate and eliminations 2.1 2.5 4.1 6.2 Depreciation & Amortization $ 36.8 $ 36.5 $ 107.7 $ 77.3 EBITDA: Color, Additives and Inks $ 93.4 $ 76.8 $ 321.1 $ 171.3 Specialty Engineered Materials 39.6 32.2 127.0 86.7 Distribution 24.0 17.7 72.1 51.9 Corporate and eliminations (41.5) (56.7) (105.3) (108.3) EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2 EBITDA as a % of Sales: Color, Additives and Inks 15.9 % 15.6 % 17.6 % 17.5 % Specialty Engineered Materials 17.0 % 18.5 % 18.4 % 16.7 % Distribution 5.5 % 6.4 % 6.0 % 6.4 % 17 Reconciliation of Pro Forma EBITDA - Color, Additives and Inks Nine Months Ended September 30, 2020 Sales: Color, Additives and Inks $ 977.1 Clariant MB pro forma adjustments(2) 540.5 Pro forma sales $ 1,517.6 Operating income: Color, Additives and Inks $ 123.3 Clariant MB pro forma adjustments(2) 45.0 Pro forma operating income $ 168.3 Depreciation & amortization: Color, Additives and Inks $ 48.0 Clariant MB pro forma adjustments(2) 30.1 Pro forma depreciation & amortization $ 78.1 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): Color, Additives and Inks $ 171.3 Clariant MB pro forma adjustments(2) 75.1 Pro forma EBITDA $ 246.4 Pro forma EBITDA as a % of Sales 16.2 % (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition Three Months Ended September 30, Nine Months Ended September 30, Reconciliation to EBITDA and Pro Forma Adjusted EBITDA: 2021 2020 2021 2020 Net income from continuing operations – GAAP $ 52.6 $ 2.6 $ 201.7 $ 59.1 Income tax expense 8.5 2.7 51.8 22.5 Interest expense 19.0 29.7 57.8 55.3 Depreciation and amortization from continuing operations 36.8 36.5 107.7 77.3 EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2 Special items, before tax 19.9 50.0 36.5 62.0 Interest expense included in special items — (9.6) — (10.1) Depreciation and amortization included in special items (0.9) (1.3) (0.1) (2.5) Adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 263.6 Clariant MB pro forma adjustments(2) — — — 75.1 Pro forma adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 338.7 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition NEWS RELEASE Attachment 1
https://www.avient.com/sites/default/files/2024-12/Norbert - Bio 2024.pdf
NORBERT MERKLEIN Vice President and General Manager EMEA of Color, Additives & Inks Norbert Merklein serves as Vice President and General Manager for the Europe, Middle East, and Africa (EMEA) region of Color, Additives & Inks at Avient Corporation, an innovator of materials solutions that help customers succeed while enabling a sustainable world.
https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
Three Months Ended December 31, Year Ended December 31, 2021 2020 2021 2020 Sales: Color, Additives and Inks $ 581.3 $ 525.8 $ 2,401.6 $ 1,502.9 Specialty Engineered Materials 228.2 190.6 918.9 708.8 Distribution 425.0 305.1 1,630.9 1,110.3 Corporate and eliminations (33.0) (24.5) (132.6) (79.9) Sales $ 1,201.5 $ 997.0 $ 4,818.8 $ 3,242.1 Gross margin: Color, Additives and Inks $ 164.5 $ 164.3 $ 727.5 $ 484.4 Specialty Engineered Materials 60.0 59.1 257.4 207.6 Distribution 36.5 32.4 155.8 124.0 Corporate and eliminations (7.9) (2.9) (41.1) (31.7) Gross margin $ 253.1 $ 252.9 $ 1,099.6 $ 784.3 Selling and administrative expense: Color, Additives and Inks $ 103.3 $ 106.8 $ 424.4 $ 303.6 Specialty Engineered Materials 31.2 28.7 125.4 113.2 Distribution 14.8 14.4 62.6 54.5 Corporate and eliminations 29.8 38.0 106.0 123.7 Selling and administrative expense $ 179.1 $ 187.9 $ 718.4 $ 595.0 Operating income: Color, Additives and Inks $ 61.2 $ 57.5 $ 303.1 $ 180.8 Specialty Engineered Materials 28.8 30.4 132.0 94.4 Distribution 21.7 18.0 93.2 69.5 Corporate and eliminations (37.7) (40.9) (147.1) (155.4) Operating income $ 74.0 $ 65.0 $ 381.2 $ 189.3 13 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
Reconciliation of Pro Forma Adjusted Earnings per Share: Year Ended December 31, 2020 Net income from continuing operations attributable to Avient shareholders $ 132.0 Special items, after tax 24.8 Adjusted net income from continuing operations excluding special items 156.8 Clariant Color pro forma adjustments to net income from continuing operations(2) 20.7 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 177.5 Weighted average diluted shares 90.6 Pro forma impact to diluted shares from January 2020 equity offering(2) 1.5 Pro forma weighted average diluted shares 92.1 Adjusted EPS - excluding special items pro forma for Clariant Color acquisition $ 1.93 Year Ended December 31, 2020 Sales $ 3,242.1 Clariant Color pro forma adjustment to sales(2) 540.4 Pro forma sales $ 3,782.5 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 15 Reconciliation of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) by Segment Three Months Ended December 31, Year Ended December 31, 2021 2020 2021 2020 Operating income: Color, Additives and Inks $ 61.2 $ 57.5 $ 303.1 $ 180.8 Specialty Engineered Materials 28.8 30.4 132.0 94.4 Distribution 21.7 18.0 93.2 69.5 Corporate and eliminations (37.7) (40.9) (147.1) (155.4) Operating income $ 74.0 $ 65.0 $ 381.2 $ 189.3 Items below OI in Corporate: Other income, net $ (5.4) $ 11.7 $ (1.3) $ 24.3 Depreciation & amortization: Color, Additives and Inks $ 26.4 $ 27.3 $ 105.7 $ 75.1 Specialty Engineered Materials 8.0 7.4 31.7 30.0 Distribution 0.2 0.3 0.8 0.7 Corporate and eliminations 3.6 2.8 7.7 9.3 Depreciation & Amortization $ 38.2 $ 37.8 $ 145.9 $ 115.1 EBITDA: Color, Additives and Inks $ 87.6 $ 84.8 $ 408.8 $ 255.9 Specialty Engineered Materials 36.8 37.8 163.7 124.4 Distribution 21.9 18.3 94.0 70.2 Corporate and eliminations (39.5) (26.4) (140.7) (121.8) EBITDA $ 106.8 $ 114.5 $ 525.8 $ 328.7 16 Reconciliation of Pro Forma Sales, Operating Income and EBITDA - Color, Additives and Inks Year Ended December 31, 2020 Sales: Color, Additives and Inks $ 1,502.9 Clariant Color pro forma adjustments(2) 540.4 Pro forma sales $ 2,043.3 Operating income: Color, Additives and Inks $ 180.8 Clariant Color pro forma adjustments(2) 45.0 Pro forma operating income $ 225.8 Depreciation & amortization: Color, Additives and Inks $ 75.1 Clariant Color pro forma adjustments(2) 30.1 Pro forma depreciation & amortization $ 105.2 EBITDA: Color, Additives and Inks $ 255.9 Clariant Color pro forma adjustments(2) 75.1 Pro forma EBITDA $ 331.0 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition Three Months Ended December 31, Year Ended December 31, Reconciliation to EBITDA and Pro Forma Adjusted EBITDA: 2021 2020 2021 2020 Net income from continuing operations – GAAP $ 28.9 $ 74.7 $ 230.6 $ 133.8 Income tax expense (benefit) 22.2 (17.3) 74.0 5.2 Interest expense 17.5 19.3 75.3 74.6 Depreciation and amortization from continuing operations 38.2 37.8 145.9 115.1 EBITDA $ 106.8 $ 114.5 $ 525.8 $ 328.7 Special items, before tax 20.6 4.2 57.1 66.2 Interest expense included in special items — — (10.1) Depreciation and amortization included in special items (1.6) (0.7) (1.7) (3.2) Adjusted EBITDA $ 125.8 $ 118.0 $ 581.2 $ 381.6 Clariant Color pro forma adjustments(2) — — — 75.1 Pro forma adjusted EBITDA $ 125.8 $ 118.0 $ 581.2 $ 456.7 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 17 Net Debt Calculation December 31, 2021 Total long-term debt, net $ 1,850.3 Unamortized discount and debt issuance cost 14.4 Short-term and current portion of long term debt 8.6 Total debt $ 1,873.3 Cash (601.2) Net debt $ 1,272.1 NEWS RELEASE Attachment 1
https://www.avient.com/sites/default/files/2021-06/plastisol-storage-handling-technical-bulletin.pdf
The frequency of the need for re-mixing will typically vary between 1 week and 1 month.
A visual examination of the plastisol is key in determining the proper re-mixing frequency, or if separation has occurred.
The visual appearance of a clear surface layer, or the formation of sediment on the bottom of the container, is an indication that separation has occurred and the plastisol needs to be re-mixed.
https://www.avient.com/sites/default/files/2020-07/woonkeatmoh_0.pdf
WOON KEAT MOH Senior Vice President, President Color, Additives & Inks–Americas and Asia Woon Keat Moh (“Moh”) is senior vice president, president, Color, Additives & Inks, Americas and Asia regions for Avient Corporation, a premier provider of specialized and sustainable material solutions and services.
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202012%2520-%2520Critical%2520Imperatives.pdf
Page 102 Critical Imperatives – Medium to Long Term • Continue cultural and paradigm shift from commodity compounder to collaborative formulator as One PolyOne • Accelerate innovation and leverage megatrends to improve our mix of business with higher-margin improve our mix of business with higher-margin specialty products • Increase specialty contribution and advance globalization via acquisitions • Drive relentless execution and creative innovation as key competitive differentiators Page 103 2011 Proforma ColorMatrix 2015 Target “Where we are” “Where we expect to be” 1) Operating Income % Specialty 8.9% PP&S 7.2% 12 – 16% 9 – 12% Elevating our Expectations and Yours PP&S 7.2% Distribution 5.6% 2) Specialty Platform % of Operating Income 50% 3) ROIC* (after-tax) 10% 4) Adjusted Annual EPS Growth 3 yr CAGR = 71% 9 – 12% 6 – 7.5% 65 – 75% 15% Double Digit Expansion *ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period Page 104
https://www.avient.com/resources/safety-data-sheets?page=1336
INK TANK YELLOW (IV)
https://www.avient.com/resources/safety-data-sheets?page=907
INK JET BLUE
https://www.avient.com/resources/safety-data-sheets?page=3965
INK BLUE