https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Presentation - Website.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.
2
O P E N I N G R E M A R K S
B O B P A T T E R S O N
C H A I R M A N , P R E S I D E N T A N D C E O
Complementary technologies and
customer relationships offer opportunity to
advance commercial strategy
Dyneema®, the world’s strongest fiber™, to
accelerate growth of sustainable, ultralight
and high performance applications
AVIENT PROTECTIVE MATERIALS
FIRST YEAR
4
Composites comprises over half of
Specialty Engineered Materials,
compared to 9% in 2016
Proven history of success in areas
such as outdoor high performance,
defense and sustainable solutions
Composites
44%
56%
2023E
Sales
Collaboration & InnovationComposites as a % of SEM People & Culture
Talented, passionate, and
creative associates drive
continued integration success
and allow two cultures to come
together as one Avient
Lightweight Protective Laminates:
PROJECTILE PROTECTION
Dyneema® Fiber Solutions
Cushioning + Fit + Comfort:
LONG-TERM WEAR
reSound™ Versaflex™ Thermoplastic Elastomers
Strength + Durability + Light-Weighting:
SOLID MOUNTING BRACKETS
Nymax™ Bergamid™ Complēt™ Engineered Materials
Durability + Lubricity:
HELMET LATCHES
Lubri-One™ Internally Lubricated Polymers
Color Consistency and Weatherability
CUSTOMIZED SPECIFICATIONS
Avient Color and Additive Solutions
Antennae Performance
FAST, RELIABLE CONNECTIONS
PREPERM™ Low-Loss Dielectric Thermoplastics
AVIENT PROTECTIVE MATERIALS
C R O S S S E L L I N G O P P O R T U N I T I E S
Wired Connections
CONSTANT COMMUNICATION
Syncure™ Cross-linkable Wire & Cable Formulations5
6
AVIENT PROTECTIVE MATERIALS
C R O S S S E L L I N G O P P O R T U N I T I E S
6
Q 3 P E R F O R M A N C E
15.4%
16.3%
2022 PF 2023
Results vs.
PRIOR YEAR
$790
$710
2022 2023
$107
$112
2022 2023
Sales Adjusted EBITDA
(in millions)
$0.42
$0.47
2022 PF 2023
Adjusted EPS
(in millions)
- 10% + 5% + 12%
Sales Adjusted EBITDA Adjusted EPS
12
$112
$500
Q4 FY
$0.47
$2.30
Q4 FY
Q4 AND FULL YEAR 2023 GUIDANCE
$710
$3,130
Q4 FY
Sales Adjusted EBITDA Adjusted EPS
13
(in millions) (in millions)
Guidance: Free Cash Flow
$180 $180
Prior Guidance Guidance
FREE CASH FLOW & INCREASED DIVIDEND
13th Consecutive Dividend Increase
0.16
0.26
0.42
0.58
0.79
0.85
0.99
1.03
2011 2013 2015 2017 2019 2021 2023 2024
14
S U S T A I N A B I L I T Y D AY
R E C A P
SUSTAINABILITY AS A GROWTH DRIVERLONG-TERM REVENUE GROWTH DRIVERS
60%+
Key Growth
Drivers
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
(GDP Growth)
Total Company Revenue
Growth Drivers Long-Term Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other (GDP growth) 0–2%
Avient 6%
17
SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH
8-12%
Long Term
Growth
50
90
2022 2030
Medical Plastics
Market Size
(in $Billions)
2020 2030
Recycled
Plastics
Virgin
Plastics
Growing Demand
for Recycled
Content
Avient Sustainable
Solutions
18
46
2023 2032
Global Offshore Annual
Wind Installations
(in Gigawatts)
Sources: McKinsey, Bloomberg, Grand View Research
SUSTAINABILITY TRENDS DRIVE
LONG-TERM GROWTH
18
• Transformative acquisitions
combined with divestitures of
more cyclical businesses have
improved margins over 400 bps
since 2018
• 20% long-term margin goal to
be driven by key growth drivers,
with sustainable solutions
playing a meaningful role
5.4%
11.5%
16.0%
2006 2018 2023E Recovery Growth
Drivers
Strategic
Objective
20%+
+1%+
+3%+
ADJUSTED EBITDA MARGIN EXPANSION
19
• 6% annualized long-term sales growth leveraging
sustainable solutions, composites, healthcare, and
emerging regions
• Expand EBITDA margins to 20%
• Deliver annual EBITDA and EPS growth of
10% and 15%
• Maintain asset-light, 80% free cash flow conversion
profile and be valued as a specialty formulator
• Continue fostering our Great Place to Work® culture
CRE AT ING A WORL D-CL AS S
S US TAINABL E ORGANIZ AT ION
20
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/sites/default/files/2023-01/CFA Product Selection Guide.pdf
Product
Name
Material/
Product
Code
Type Initiation Temp, C
Optimum
Gas Yield
Temp, C
Gas Yield
Range, cc/g
Uses/
Applications Usage Resins
POWDER
Hydrocerol
BIH
PEAUFF Endo 140 160 140–150
• Weight reduction
• Sink mark removal
• Warpage reduction
EVA, polyethylene,
PE copolymers,
TPEs/TPOs, PVC
Hydrocerol
Compound
EMASAD Endo 140 200 135–145
• Weight reduction
• Sink mark removal
• Warpage reduction
Polyethylene,
polypropylene,
TPEs/TPOs, styrenes,
acrylics, TPUs,
POM, PVC
Hydrocerol
HK
EMA0766025 Endo 200 210 135–145
• Weight reduction
• Sink mark removal
• Warpage reduction
Polypropylene,
styrenes, acrylics,
polyamides
Hydrocerol
1480
EMA0766027 Endo-Exo 140 180 240–259
• Weight reduction
• Sink mark removal
• Warpage reduction
EVA, polyethylenes,
PE copolymers,
TPEs/TPOs, styrenes,
acrylics, PVC
Product
Name
Material/
Product
Code
Type Initiation Temp, C
Optimum
Gas Yield
Temp, C
Gas Yield
Range, cc/g
Uses/
Applications Usage Resins
MASTERBATCH
Hydrocerol
862
PLASAD Endo 140 160 10–20
• Sink mark removal
• Warpage reduction
EVA, polyethylene,
PE compolymers,
TPOs/TPEs
Hydrocerol
BIH-40-E
PLASAF Endo 140 160 55–65
• Weight reduction
• Sink mark removal
• Warpage reduction
EVA, polyethylene,
PE compolymers,
TPOs/TPEs
Hydrocerol
1004
PEAUFQ Endo 140 160 80–90 • Weight reduction
EVA, polyethylene,
PE compolymers,
TPOs/TPEs
Hydrocerol
CF-5-E
PEASCF Endo 140 200 5–10
• Sink mark removal
• Warpage reduction
Polyethylene,
polypropylene,
TPEs/TPOs, styrenes,
acrylics, TPUs, POM
Hydrocerol
1602
PRASAD Endo 140 200 50–60
• Weight reduction
• Sink mark removal
• Warpage reduction
Polyethylene,
polypropylene,
TPEs/TPOs, styrenes,
acrylics, TPUs, POM
Hydrocerol
PEA0820021
PEA0820021 Endo 140 200 25–35
• Weight reduction
• Sink mark removal
• Warpage reduction
Styrenes
Hydrocerol
PEA08200095
PEA0820095 Endo-Exo 140 180 100–120
• Weight reduction
• Sink mark removal
• Warpage reduction
PVC
Hydrocerol
ITP-820
PRAN698588 Endo 200 210 5–10
• Sink mark removal
• Warpage reduction
EVA, polyethylene,
PE copolymers,
TPEs/TPOs, PVC
Hydrocerol
HK-40-E
PLASAH Endo 200 210 55–65
• Weight reduction
• Sink mark removal
• Warpage reduction
Polyethylene,
polypropylene,
TPEs/TPOs, styrenes,
acrylics, TPUs,
POM, PVC
Hydrocerol
CT-3205-B
OMA0698633 Endo 200 210 50–60
• Weight reduction
• Sink mark removal
• Warpage reduction
PLA
Hydrocerol
1135
PEAN698616 Exo 170 190 20–30
• Sink mark removal
• Warpage reduction
Polyethylene,
polypropylene,
TPEs/TPOs, styrenes,
acrylics, TPUs, POM
Hydrocerol
8418M
PHA0698418 Exo 170 190 50–60
• Weight reduction
• Sink mark removal
• Warpage reduction
Polyethylene,
polypropylene,
TPEs/TPOs, styrenes,
acrylics, TPUs, POM
Product
Name
Material/
Product
Code
Type Initiation Temp, C
Optimum
Gas Yield
Temp, C
Gas Yield
Range, cc/g
Uses/
Applications Usage Resins
MASTERBATCH
Hydrocerol
141
PEASCH Exo 200 210 10–20
• Sink mark removal
• Warpage reduction
Polypropylene,
styrenes, acrylics,
polyamides
Hydrocerol
1191
PRAN698433 Exo 200 210 55–65
• Weight reduction
• Sink mark removal
• Warpage reduction
Polypropylene,
styrenes, acrylics,
polyamides
Hydrocerol
NBA0820012
NBA0820012 Exo 240 260 25–35
• Weight reduction
• Sink mark removal
• Warpage reduction
Polyesters,
high-temperature
resins
Hydrocerol
XH-901
SAASCC Exo 240 260 30–40
• Weight reduction
• Sink mark removal
• Warpage reduction
Polycarbonate blends,
polycarbonate,
high-temperature
resins
Hydrocerol
1376-4
PRAN698541 Endo-Exo 200 210 90–100
• Weight reduction
• Sink mark removal
• Warpage reduction
Polypropylene,
styrenes, acrylics,
polyamides, PVC
LIQUID
Excelite
FA-37
CC10212522 Endo-Exo 120 140 65–75
• Weight reduction/
WPC
Polyethylene
Excelite
PF-1
CC01053625 Endo-Exo 120 140 55–65 • Weight reduction Vinyl
Excelite
FA-185
CC10303252 Endo 140 200 75–85
• Weight reduction
• Direct gas assist
Polyolefin
Excelite
Foam PPRO
CC10250288 Endo 160 200 50–60
• Weight reduction
• Warpage reduction
Polypropylene
Excelite
FA-77
CC10232527 Endo-Exo 120 140 85–95
• Weight reduction/
WPC
Polyethylene
Excelite
FA-108
CC10290626 Endo 180 200 55–65
• Weight reduction
• Sink mark removal
Polyolefin
Excelite
FA-112
CC10313065 Endo 140 200 50-60
• Weight reduction
• Sink mark removal
Polyolefin
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