https://www.avient.com/news/archives?page=53
May 14, 2025
May 14, 2025
May 06, 2025
https://www.avient.com/news/archives?page=79
May 14, 2025
May 14, 2025
May 06, 2025
https://www.avient.com/news/archives?page=77
May 14, 2025
May 14, 2025
May 06, 2025
https://www.avient.com/news/archives?page=65
May 14, 2025
May 14, 2025
May 06, 2025
https://www.avient.com/news/archives?page=43
May 14, 2025
May 14, 2025
May 06, 2025
https://www.avient.com/news/archives?page=47
May 14, 2025
May 14, 2025
May 06, 2025
https://www.avient.com/news/archives?page=70
May 14, 2025
May 14, 2025
May 06, 2025
https://www.avient.com/sites/default/files/2024-08/AVNT Second Quarter Earnings Press Release.pdf
We also generated 4% and 1% organic sales growth in EMEA and Asia,
respectively.
https://www.avient.com/investors
https://edge.media-server.com/mmc/p/pyh3w2ip/
https://www.avient.com/investors
https://register.vevent.com/register/BId7a8a09515a442e9b13c4d5558d927fe
https://www.avient.com/investors/events-presentations
4
Non-GAAP Financial Measures
The Company uses both GAAP (generally accepted accounting principles) and non-GAAP
financial measures.
2) Tax adjustments include the net tax impact from non-recurring income tax items, adjustments to uncertain tax position reserves and the
establishment, reversal or changes to valuation allowances.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
June 30, 2024
December 31,
2023
ASSETS
Current assets:
Cash and cash equivalents $ 489.4 $ 545.8
Accounts receivable, net 486.6 399.9
Inventories, net 365.9 347.0
Other current assets 117.2 114.9
Total current assets 1,459.1 1,407.6
Property, net 1,019.9 1,028.9
Goodwill 1,685.1 1,719.3
Intangible assets, net 1,515.7 1,590.8
Other non-current assets 228.0 221.9
Total assets $ 5,907.8 $ 5,968.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 657.7 $ 9.5
Accounts payable 435.2 432.3
Accrued expenses and other current liabilities 405.3 331.8
Total current liabilities 1,498.2 773.6
Non-current liabilities:
Long-term debt 1,420.8 2,070.5
Pension and other post-retirement benefits 63.3 67.2
Deferred income taxes 276.3 281.6
Other non-current liabilities 315.0 437.6
Total non-current liabilities 2,075.4 2,856.9
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 2,317.5 2,319.2
Noncontrolling interest 16.7 18.8
Total equity 2,334.2 2,338.0
Total liabilities and equity $ 5,907.8 $ 5,968.5
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Six Months Ended
June 30,
2024 2023
Operating Activities
Net income $ 83.5 $ 42.7
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization 88.4 96.2
Accelerated depreciation 0.8 1.9
Share-based compensation expense 9.0 6.5
Changes in assets and liabilities:
Increase in accounts receivable (97.0) (66.6)
(Increase) decrease in inventories (27.3) 14.0
Increase (decrease) in accounts payable 11.9 (26.2)
Taxes paid on gain on sale of business — (103.0)
Accrued expenses and other assets and liabilities, net (6.2) 9.8
Net cash provided (used) by operating activities 63.1 (24.7)
Investing activities
Capital expenditures (55.8) (45.9)
Net proceeds from divestiture — 7.3
Proceeds from plant closures 3.4 —
Other investing activities (2.1) —
Net cash used by investing activities (54.5) (38.6)
Financing activities
Cash dividends paid (47.0) (45.0)
Repayment of long-term debt (4.5) (1.0)
Other financing activities (3.3) (2.3)
Net cash used by financing activities (54.8) (48.3)
Effect of exchange rate changes on cash (10.2) (0.8)
Decrease in cash and cash equivalents (56.4) (112.4)
Cash and cash equivalents at beginning of year 545.8 641.1
Cash and cash equivalents at end of period $ 489.4 $ 528.7
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to
segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not
included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
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 R A N S F O R M A T I O N A L
O V E R V I E W
Avient Protective
Materials
Dyneema
®
RECENT TRANSAC TIONS
Acquired Divested
$1.45 B $0.95 B
4
Distribution
UPDATED CA PI TAL STRUC TURE
& LI QUI DI TY
• 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)
(1) $250M reflects estimated undrawn revolver following the divestiture of Distribution
5
PREVI OUS TR ANSACTIONS
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.
O P S )
16
Sales Adjusted EBITDA
$818
$823
2021 2022
+ 1%
Adjusted EPS
+ 8% - 3%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 5% excluding FX)
Q3 EBITDA BRIDGE
( P R O F O R M A T O TA L C O M PA N Y )
17
Price increases more than
offset raw material and
supply chain impacts
$ millions
CAI:
Price / Mix 68
Inflation (44)
SEM:
Price / Mix 41
Inflation (26)
Net Price Benefit 39
Wage and Energy Inflation (14)
Clariant Color Integration Synergies 6
Incentives, Other Employee Costs 14
FX (11)
Q3 2022 $137
Adjusted
EBITDA
Q3 2021 $ 142
Demand (39)
Q3 2022 SEGMENT PERFORMANCE
18
CAI
$587
$566
Sales
($ in millions)
$93 $93
EBITDA
SEM Pro Forma
$326 $319
Sales
$70
$62
EBITDA
(+ 4% excluding FX)
- 4% - 2%
(+ 5% excluding FX)
Flat
(+ 7% excluding FX)
- 11%
(- 7% excluding FX)
$500
$585
Cont.
Ops Pro Forma
Adjusted EPS
(in millions) (in millions)
20
SUMMARY
• Executed the plans we laid out earlier this year
• Completed the Dyneema acquisition and Distribution divestiture
amid challenging market conditions
• Paid down debt and expect to finish the year modestly levered at
3.1x net debt to 2022 pro forma adjusted EBITDA
• Expect $200 million of free cash flow in 2022
• Entering an economic slowdown with a portfolio that is better
positioned than ever before
• Updated our EPS guidance to $2.60 from continuing operations
SEGMENT DATA
U.S. & Canada
40%
EMEA
35%
Asia
20%
Latin America
5%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
21%
Packaging
23%
Industrial
15%
Building and
Construction
10%
Telecommunications
4%
Energy
4%
Defense
6%
END MARKET REVENUE
(1) Total company adjusted EBITDA of $585M includes corporate costs.
https://www.avient.com/sites/default/files/2020-11/off-road-vehicle-hood-panel-case-study-brief.pdf