https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
We also monitor earnings (defined as net income from continuing operations) before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA (EBITDA before the impact of special items) as a supplement to our GAAP measures.
Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net (loss) income from continuing operations attributable to Avient shareholders $ (27.4) $ (0.30) $ 33.7 $ 0.37 Special items, after tax (Attachment 3) 68.3 0.75 11.7 0.13 Amortization expense, after-tax 13.4 0.14 $ 11.0 $ 0.11 Adjusted net income / EPS $ 54.3 $ 0.59 $ 56.4 $ 0.61 2009* 2012* 2015 2018 Net income from continuing operations attributable to Avient common shareholders $ 106.7 $ 53.3 $ 144.6 $ 161.1 Joint venture equity earnings, after tax (19.0) — — — Special items, before tax (48.7) 55.1 87.6 59.5 Special items, tax adjustments (27.2) (18.9) (58.7) (25.3) Amortization expense, after tax 1.8 8.3 10.4 19.5 Adjusted net income from continuing operations attributable to Avient common shareholders $ 13.6 $ 97.8 $ 183.9 $ 214.8 Diluted shares 93.4 89.8 88.7 80.4 Adjusted EPS attributable to Avient common shareholders $ 0.15 $ 1.09 $ 2.08 $ 2.67 * Historical results have been updated to reflect subsequent changes to accounting principle and discontinued operations, excluding any changes as a result of discontinued operations from the sale of the Designed Structures and Solutions segment (DSS) and the Performance Products and Solutions segment (PP&S). 1 Year Ended December 31, Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018 Sales $ 2,622.4 $ 3,533.4 Net income from continuing operations – GAAP $ 133.5 $ 160.8 Income tax expense 29.7 36.4 Interest expense 63.1 62.8 Depreciation and amortization 57.1 91.5 EBITDA $ 283.4 $ 351.5 Special items, before tax (34.0) 59.5 Depreciation and amortization included in special items — (3.0) JV - equity income (107.0) — Adjusted EBITDA $ 142.4 $ 408.0 EBITDA as a % of sales 5.4 % 11.5 % Reconciliation of Color, Additives and Inks EBITDA Q3 2022 Q3 2021 Operating Income 68.6 66.8 Depreciation and amortization 24.2 26.6 EBITDA 92.8 $ 93.4 Reconciliation of Specialty Engineered Materials EBITDA Q3 2022 Q3 2021 SEM(1) Pro forma APM(1) Pro forma SEM SEM Pro forma APM Pro forma SEM Operating Income 31.4 6.3 37.7 30.0 13.9 43.9 Depreciation and amortization 12.9 10.9 23.8 7.9 18.4 26.3 EBITDA $ 44.3 $ 17.2 $ 61.5 $ 37.9 $ 32.3 $ 70.2 Reconciliation of Specialty Engineered Pro Forma Sales Q3 2022 Q3 2021 Sales 258.2 231.7 Pro forma APM(1) 60.7 94.1 Pro forma sales $ 318.9 $ 325.8 Reconciliation of Avient Pro Forma Sales Q3 2022 Q3 2021 Sales 823.3 818.0 Pro forma APM(1) 60.7 94.1 Pro forma sales $ 884.0 $ 912.1 (1) - Q3 2022 SEM results reflect one month of APM’s results while owned by Avient, as the acquisition closed on September 1, 2022.
The Q3 2022 "Pro Forma APM" adjustments reflect periods prior to the acquisition date and are preliminary estimates for APM’s results for the months of July and August. 2 Reconciliation of Avient consolidated pro forma EBITDA Q3 2022 Q3 2021 Avient(1) Pro forma APM(1) Pro forma Avient Avient Pro forma APM Pro forma Avient Net income from continuing operations (27.8) 3.9 (23.9) 33.4 0.3 33.7 Income tax expense (1.2) 0.6 (0.6) 2.0 2.5 4.5 Interest expense 37.3 1.8 39.1 19.0 11.2 30.2 Depreciation and amortization 39.8 10.9 50.7 36.6 18.4 55.0 EBITDA 48.1 17.2 65.3 91.0 32.4 123.4 Special items, before tax 82.0 — 82.0 19.9 — 19.9 Interest expense included in special items (10.0) — (10.0) — — — Depreciation included in special items (0.8) — (0.8) (0.9) — (0.9) Adjusted EBITDA $ 119.3 $ 17.2 $ 136.5 $ 110.0 $ 32.4 $ 142.4 (1) - Q3 2022 Avient results reflect one month of APM’s results while owned by Avient, as the acquisition closed on September 1, 2022.
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Presentation - Website.pdf
We also monitor earnings (defined as net income from continuing operations) before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA (EBITDA before the impact of special items) as a supplement to our GAAP measures.
Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Reconciliation to Condensed Consolidated Statements of Income: $ EPS $ EPS Net income (loss) from continuing operations attributable to Avient shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30) Special items, after tax 32.0 0.35 68.3 0.75 Amortization expense, after-tax 15.2 0.16 $ 13.4 $ 0.14 Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59 Three Months Ended September 30, Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 Sales - GAAP $ 753.7 $ 823.3 Pro Forma APM adjustments — 60.7 Pro forma adjusted sales $ 753.7 $ 884.0 Net income from continuing operations – GAAP $ 5.1 $ (27.8) Income tax (benefit) expense (0.1) (1.2) Interest expense, net 30.3 37.3 Depreciation and amortization 46.4 39.8 EBITDA from continuing operations $ 81.7 $ 48.1 Special items, before tax 43.2 82.0 Interest expense included in special items (2.2) (10.0) Depreciation and amortization included in special items — (0.8) Adjusted EBITDA $ 122.7 $ 119.3 Pro forma APM adjustments — 17.2 Pro forma adjusted EBITDA $ 122.7 $ 136.5 Pro forma adjusted EBITDA as a % of sales 16.3 % 15.4 % 1 Year Ended December 31, Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018 Sales $ 2,622.4 $ 3,533.4 Net income from continuing operations – GAAP $ 133.5 $ 160.8 Income tax expense 29.7 36.4 Interest expense, net 63.1 62.8 Depreciation and amortization 57.1 91.5 EBITDA from continuing operations $ 283.4 $ 351.5 Special items, before tax (34.0) 59.5 Depreciation and amortization included in special items — (3.0) JV - equity income (107.0) — Adjusted EBITDA $ 142.4 $ 408.0 Adjusted EBITDA as a % of sales 5.4 % 11.5 % Reconciliation to EBITDA and Adjusted EBITDA: Three Months Ended December 31, 2022 Net loss from continuing operations – GAAP $ (16.6) Income tax benefit (60.8) Interest expense, net 49.4 Depreciation and amortization 48.6 EBITDA from continuing operations $ 20.6 Special items, before tax 104.3 Interest expense included in special items (16.0) Depreciation and amortization included in special items (1.5) Adjusted EBITDA $ 107.4 Reconciliation of Pro Forma Adjusted Earnings per Share: Three Months Ended December 31, 2022 Net loss from continuing operations attributable to Avient shareholders $ (17.0) Special items, after tax 38.3 Amortization expense, after-tax 14.6 Adjusted net income from continuing operations excluding special items 35.9 Pro forma adjustments* 2.5 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 38.4 Weighted average diluted shares 91.7 Pro forma adjusted EPS - excluding special items pro forma for APM acquisition $ 0.42 * Pro forma adjustment to reflect APM results for the period before Avient ownership including the impacts of debt financing and paydown of debt with net proceeds from the Distribution sale. 2 AVNT Q3 2023 Earnings Presentation Avient corporation�Third quarter 2023 results DISCLAIMER Slide Number 3 Avient protective materials �First Year Slide Number 5 Slide Number 6 Slide Number 7 Slide Number 8 Slide Number 9 Slide Number 10 Slide Number 11 Slide Number 12 Slide Number 13 Slide Number 14 Slide Number 15 Slide Number 16 Slide Number 17 Slide Number 18 Slide Number 19 Slide Number 20 Slide Number 21 IR Deck - AVNT-2023.09.30 Non GAAP Recs Attachment
https://www.avient.com/sites/default/files/2025-02/Avient Investor Presentation - February 2025_w_Non-GAAP.pdf
Three Months Ended December 31, 2024 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 48.3 $ 0.52 $ 27.8 $ 0.30 Special items, after-tax (18.0) (0.20) 5.4 0.06 Amortization expense, after-tax 14.8 0.17 15.0 0.16 Adjusted net income / EPS $ 45.1 $ 0.49 $ 48.2 $ 0.52 (1) Per share amounts may not recalculate from figures presented herein due to rounding Year Ended December 31, 2024 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 169.5 $ 1.84 $ 75.8 $ 0.83 Special items, after-tax 15.9 0.17 79.3 0.86 Amortization expense, after-tax 59.5 0.65 61.5 0.67 Adjusted net income / EPS $ 244.9 $ 2.66 $ 216.6 $ 2.36 (1) Per share amounts may not recalculate from figures presented herein due to rounding Three Months Ended December 31, Year Ended December 31, Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023 2024 2023 Net income from continuing operations – GAAP $ 48.5 $ 27.6 $ 170.7 $ 76.3 Income tax expense (benefit) 14.8 (7.0) 54.1 11.0 Interest expense 25.5 26.8 105.6 115.3 Depreciation and amortization from continuing operations 45.4 44.2 179.7 188.8 EBITDA from continuing operations $ 134.2 $ 91.6 $ 510.1 $ 391.4 Special items, before tax (23.9) 22.4 20.1 114.6 Interest expense included in special items — (0.1) (2.3) (2.3) Depreciation and amortization included in special items (0.3) — (1.5) (1.9) Adjusted EBITDA $ 110.0 $ 113.9 $ 526.4 $ 501.8 Adjusted EBITDA as a percent of sales 14.7 % 15.8 % 16.2 % 16.0 % 1 Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Sales: Color, Additives and Inks $ 467.7 $ 459.4 $ 2,046.5 $ 2,007.4 Specialty Engineered Materials 279.7 259.8 1,196.8 1,138.2 Corporate (0.9) (0.2) (2.9) (2.8) Sales $ 746.5 $ 719.0 $ 3,240.4 $ 3,142.8 Gross margin: Color, Additives and Inks $ 152.6 $ 148.3 $ 681.1 $ 631.2 Specialty Engineered Materials 84.2 78.1 374.9 341.8 Corporate 22.7 (17.5) 0.7 (80.5) Gross margin $ 259.5 $ 208.9 $ 1,056.7 $ 892.5 Selling and administrative expense: Color, Additives and Inks $ 92.8 $ 86.5 $ 384.9 $ 371.3 Specialty Engineered Materials 49.6 48.7 207.7 199.3 Corporate 31.5 30.6 134.8 125.1 Selling and administrative expense $ 173.9 $ 165.8 $ 727.4 $ 695.7 Operating income: Color, Additives and Inks $ 59.8 $ 61.8 $ 296.2 $ 259.9 Specialty Engineered Materials 34.6 29.4 167.2 142.5 Corporate (8.8) (48.1) (134.1) (205.6) Operating income $ 85.6 $ 43.1 $ 329.3 $ 196.8 Depreciation and amortization: Color, Additives and Inks $ 21.9 $ 22.2 $ 87.5 $ 98.3 Specialty Engineered Materials 21.0 19.8 82.1 81.5 Corporate 2.5 2.2 10.1 9.0 Depreciation and amortization $ 45.4 $ 44.2 $ 179.7 $ 188.8 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 81.7 $ 84.0 $ 383.7 $ 358.2 Specialty Engineered Materials 55.6 49.2 249.3 224.0 Corporate (6.3) (45.9) (124.0) (196.6) Other income, net 3.2 4.3 1.1 5.8 EBITDA from continuing operations $ 134.2 $ 91.6 $ 510.1 $ 391.4 Special items, before tax (23.9) 22.4 20.1 114.6 Interest expense included in special items — (0.1) (2.3) (2.3) Depreciation and amortization included in special items (0.3) — (1.5) (1.9) Adjusted EBITDA $ 110.0 $ 113.9 $ 526.4 $ 501.8 2 Year Ended December 31, Adjusted Free Cash Flow Calculation 2024 2023 Cash provided by operating activities $ 256.8 $ 201.6 Taxes paid on gain on sale of business — 104.1 One-time payout associated with deferred compensation plans 20.8 — Adjusted cash provided by operating activities $ 277.6 $ 305.7 Capital expenditures (121.9) (119.4) Adjusted free cash flow $ 155.7 $ 186.3 Three Months Ended March 31, 2024 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 49.4 $ 0.54 Special items, after-tax 5.5 0.06 Amortization expense, after-tax 14.9 0.16 Adjusted net income / EPS $ 69.8 $ 0.76 (1) Per share amounts may not recalculate from figures presented herein due to rounding 3 AVNT February Investor Presentation_2_25.pdf Avient Investor Presentation - February 2025_w_Non-GAAP.pdf Avient February 2025 Investor Presentation_w_non-GAAP.pdf Non-GAAP- IR Deck - AVNT-2024.12.31 2.06.25 12PM.pdf Attachment
https://www.avient.com/sites/default/files/2025-05/AVNT May Investor Presentation_w_non-GAAP_0.pdf
Reconciliation to condensed consolidated statements of income Three months ended March 31, 2025 2024 $ Millions EPS (in $) $ Millions EPS (in $) Net (loss) income attributable to Avient common shareholders (20.2) (0.22) 49.4 0.54 Special items, after-tax 75.7 0.82 5.5 0.06 Amortization expense, after-tax 14.5 0.16 14.9 0.16 Adjusted net income / EPS 70.0 0.76 69.8 0.76 Per share amounts may not recalculate from figures present herein due to rounding 11 1 Reconciliation to EBITDA and Adjusted EBITDA Three months ended March 31, 2025 2024 $ Millions $ Millions Net (loss) income – GAAP (19.9) 49.7 Income tax (benefit) expense (6.7) 16.8 Interest expense, net 26.9 26.6 Depreciation & amortization 45.3 44.3 EBITDA 45.6 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) - Depreciation & amortization included in special items (0.4) (0.5) Adjusted EBITDA 144.7 143.1 Adjusted EBITDA as a percent of sales 17.5% 17.3% PAGE 1 OF 3 Copyright © .
All Rights Reserved 2025 30 Reconciliation of Non-GAAP financial measures Reconciliation to EBITDA and Adjusted EBITDA Three months ended March 31, 2025 2024 $ Millions $ Millions Sales Color, Additives and Inks 519.7 515.3 Specialty Engineered Materials 308.4 314.4 Corporate (1.5) (0.7) Sales 826.6 829.0 Operating income Color, Additives and Inks 78.6 74.8 Specialty Engineered Materials 47.1 53.4 Corporate (125.0) (34.2) Operating income 0.7 94.0 Depreciation and amortization Color, Additives and Inks 21.7 21.9 Specialty Engineered Materials 21.5 19.6 Corporate 2.1 2.8 Depreciation and amortization 45.3 44.3 EBITDA Earnings before interest, taxes, depreciation and amortization Color, Additives and Inks 100.3 96.7 Specialty Engineered Materials 68.6 73.0 Corporate (122.9) (31.4) Other expense, net (0.4) (0.9) EBITDA 45.6 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) - Depreciation and amortization included in special items (0.4) (0.5) Adjusted EBITDA 144.7 143.1 Adjusted EBITDA as a percent of sales Color, Additives and Inks 19.3% 18.8% Specialty Engineered Materials 22.2% 23.2% PAGE 2 OF 3 Copyright © .
All Rights Reserved 2025 31 Reconciliation of Non-GAAP financial measures Reconciliation to condensed consolidated statements of income Three months ended March 31, 2023 $ Millions EPS (in $) Net income from continuing operations attributable to Avient common shareholders 20.8 0.23 Special items, after-tax 22.3 0.24 Amortization expense, after-tax 15.1 0.16 Adjusted net income / EPS 58.2 0.63 1 Reconciliation to EBITDA and Adjusted EBITDA Year ended December 31, 2024 $ Millions Net income – GAAP 170.7 Income tax expense 54.1 Interest expense 105.6 Depreciation & amortization 179.7 EBITDA 510.1 Special items, before tax 20.1 Interest expense included in special items (2.3) Depreciation & amortization included in special items (1.5) Adjusted EBITDA 526.4 Adjusted EBITDA as a percent of sales 16.2% PAGE 3 OF 3 Reconciliation to condensed consolidated statements of income Three months ended June 30, 2024 $ Millions EPS (in $) Net income attributable to Avient common shareholders 33.6 0.36 Special items, after-tax 21.8 0.24 Amortization expense, after-tax 14.8 0.16 Adjusted net income / EPS 70.2 0.76 Reconciliation to condensed consolidated statements of income Year ended December 31, 2024 $ Millions EPS (in $) Net (loss) income attributable to Avient common shareholders 169.5 1.84 Special items, after-tax 15.9 0.17 Amortization expense, after-tax 59.5 0.65 Adjusted net income / EPS 244.9 2.66 Per share amounts may not recalculate from figures present herein due to rounding 1 1 1 Q4 2024 Earnings webcast Slide 1 Slide 2: Disclaimer Slide 3: Avient at a glance...
https://www.avient.com/sites/default/files/2022-09/Avient Pro Forma Financial Information.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense associated with intangible assets. 2 PRO FORMA 2021 TO 2022 BRIDGE 3 2021 EPS from Continuing Operations 1.69$ 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/2024-03/Terms and Conditions of Sale for the United Kingdom.pdf
Taxes, Fees, and Duties.
Seller’s invoices will include value added tax (or equivalent or similar taxes), and such taxes shall be a separate line item on the invoice.
Unless otherwise expressly agreed in writing between the Buyer and the Seller, the purchase price for the Product shall be exclusive of any value added tax (or equivalent or similar taxes) and the Buyer shall pay the Seller the amount of value added tax (or equivalent or similar taxes) chargeable on the supply of the Product in addition to the purchase price.
https://www.avient.com/sites/default/files/2025-05/AVNT Q1 2025 Webcast Slides_w_non-GAAP.pdf
Three Months Ended March 31, 2025 2024 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net (loss) income attributable to Avient common shareholders $ (20.2) $ (0.22) $ 49.4 $ 0.54 Special items, after-tax 75.7 0.82 5.5 0.06 Amortization expense, after-tax 14.5 0.16 14.9 0.16 Adjusted net income / EPS $ 70.0 $ 0.76 $ 69.8 $ 0.76 (1) Per share amounts may not recalculate from figures presented herein due to rounding Three Months Ended March 31, Reconciliation to EBITDA and Adjusted EBITDA: 2025 2024 Net (loss) income – GAAP $ (19.9) $ 49.7 Income tax (benefit) expense (6.7) 16.8 Interest expense, net 26.9 26.6 Depreciation & amortization 45.3 44.3 EBITDA $ 45.6 $ 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) — Depreciation & amortization included in special items (0.4) (0.5) Adjusted EBITDA $ 144.7 $ 143.1 Adjusted EBITDA as a percent of sales 17.5 % 17.3 % 1 Three Months Ended March 31, 2025 2024 Sales: Color, Additives and Inks $ 519.7 $ 515.3 Specialty Engineered Materials 308.4 314.4 Corporate (1.5) (0.7) Sales $ 826.6 $ 829.0 Operating income: Color, Additives and Inks $ 78.6 $ 74.8 Specialty Engineered Materials 47.1 53.4 Corporate (125.0) (34.2) Operating income $ 0.7 $ 94.0 Depreciation & amortization: Color, Additives and Inks $ 21.7 $ 21.9 Specialty Engineered Materials 21.5 19.6 Corporate 2.1 2.8 Depreciation & amortization $ 45.3 $ 44.3 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 100.3 $ 96.7 Specialty Engineered Materials 68.6 73.0 Corporate (122.9) (31.4) Other expense, net (0.4) (0.9) EBITDA $ 45.6 $ 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) — Depreciation & amortization included in special items (0.4) (0.5) Adjusted EBITDA $ 144.7 $ 143.1 Adjusted EBITDA as a percent of sales: Color, Additives and Inks 19.3 % 18.8 % Specialty Engineered Materials 22.2 % 23.2 % Reconciliation to EBITDA and Adjusted EBITDA: Year Ended December 31, 2024 Net income – GAAP $ 170.7 Income tax expense 54.1 Interest expense 105.6 Depreciation & amortization 179.7 EBITDA $ 510.1 Special items, before tax 20.1 Interest expense included in special items (2.3) Depreciation & amortization included in special items (1.5) Adjusted EBITDA $ 526.4 Adjusted EBITDA as a percent of sales 16.2 % 2 Three Months Ended March 31, 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) Net income from continuing operations attributable to Avient common shareholders $ 20.8 $ 0.23 Special items, after tax 22.3 0.24 Amortization expense, after-tax 15.1 0.16 Adjusted net income / EPS $ 58.2 $ 0.63 (1) Per share amounts may not recalculate from figures presented herein due to rounding Three Months Ended June 30, 2024 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) Net income attributable to Avient common shareholders $ 33.6 $ 0.36 Special items, after-tax 21.8 0.24 Amortization expense, after-tax 14.8 0.16 Adjusted net income / EPS $ 70.2 $ 0.76 (1) Per share amounts may not recalculate from figures presented herein due to rounding Year Ended December 31, 2024 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) Net income attributable to Avient common shareholders $ 169.5 $ 1.84 Special items, after-tax 15.9 0.17 Amortization expense, after-tax 59.5 0.65 Adjusted net income / EPS $ 244.9 $ 2.66 (1) Per share amounts may not recalculate from figures presented herein due to rounding 3 AVNT Q1 2025 webcast slides_v16.pdf Q1 2025 Earnings webcast Slide 1 Slide 2: Disclaimer Slide 3: Q1 2025 highlights Slide 4: Q1 2025 organic revenue growth - by region Slide 5: Playbook in current environment Slide 6 Slide 7: Color, Additives & Inks – Q1 2025 performance Slide 8: Specialty Engineered Materials – Q1 2025 performance Slide 9: Global reach with a local touch Slide 10 Slide 11: 2025 financial guidance unchanged...
https://www.avient.com/sites/default/files/2025-05/AVNT Q1 2025 webcast slides_v17.pdf
Reconciliation to condensed consolidated statements of income Three months ended March 31, 2025 2024 $ Millions EPS (in $) $ Millions EPS (in $) Net (loss) income attributable to Avient common shareholders (20.2) (0.22) 49.4 0.54 Special items, after-tax 75.7 0.82 5.5 0.06 Amortization expense, after-tax 14.5 0.16 14.9 0.16 Adjusted net income / EPS 70.0 0.76 69.8 0.76 Per share amounts may not recalculate from figures present herein due to rounding 11 1 Reconciliation to EBITDA and Adjusted EBITDA Three months ended March 31, 2025 2024 $ Millions $ Millions Net (loss) income – GAAP (19.9) 49.7 Income tax (benefit) expense (6.7) 16.8 Interest expense, net 26.9 26.6 Depreciation & amortization 45.3 44.3 EBITDA 45.6 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) - Depreciation & amortization included in special items (0.4) (0.5) Adjusted EBITDA 144.7 143.1 Adjusted EBITDA as a percent of sales 17.5% 17.3% PAGE 1 OF 3 Copyright © .
All Rights Reserved 2025 19 Reconciliation of Non-GAAP financial measures Reconciliation to EBITDA and Adjusted EBITDA Three months ended March 31, 2025 2024 $ Millions $ Millions Sales Color, Additives and Inks 519.7 515.3 Specialty Engineered Materials 308.4 314.4 Corporate (1.5) (0.7) Sales 826.6 829.0 Operating income Color, Additives and Inks 78.6 74.8 Specialty Engineered Materials 47.1 53.4 Corporate (125.0) (34.2) Operating income 0.7 94.0 Depreciation and amortization Color, Additives and Inks 21.7 21.9 Specialty Engineered Materials 21.5 19.6 Corporate 2.1 2.8 Depreciation and amortization 45.3 44.3 EBITDA Earnings before interest, taxes, depreciation and amortization Color, Additives and Inks 100.3 96.7 Specialty Engineered Materials 68.6 73.0 Corporate (122.9) (31.4) Other expense, net (0.4) (0.9) EBITDA 45.6 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) - Depreciation and amortization included in special items (0.4) (0.5) Adjusted EBITDA 144.7 143.1 Adjusted EBITDA as a percent of sales Color, Additives and Inks 19.3% 18.8% Specialty Engineered Materials 22.2% 23.2% PAGE 2 OF 3 Copyright © .
All Rights Reserved 2025 20 Reconciliation of Non-GAAP financial measures Reconciliation to condensed consolidated statements of income Three months ended March 31, 2023 $ Millions EPS (in $) Net income from continuing operations attributable to Avient common shareholders 20.8 0.23 Special items, after-tax 22.3 0.24 Amortization expense, after-tax 15.1 0.16 Adjusted net income / EPS 58.2 0.63 1 Reconciliation to EBITDA and Adjusted EBITDA Year ended December 31, 2024 $ Millions Net income – GAAP 170.7 Income tax expense 54.1 Interest expense 105.6 Depreciation & amortization 179.7 EBITDA 510.1 Special items, before tax 20.1 Interest expense included in special items (2.3) Depreciation & amortization included in special items (1.5) Adjusted EBITDA 526.4 Adjusted EBITDA as a percent of sales 16.2% PAGE 3 OF 3 Reconciliation to condensed consolidated statements of income Three months ended June 30, 2024 $ Millions EPS (in $) Net income attributable to Avient common shareholders 33.6 0.36 Special items, after-tax 21.8 0.24 Amortization expense, after-tax 14.8 0.16 Adjusted net income / EPS 70.2 0.76 Reconciliation to condensed consolidated statements of income Year ended December 31, 2024 $ Millions EPS (in $) Net (loss) income attributable to Avient common shareholders 169.5 1.84 Special items, after-tax 15.9 0.17 Amortization expense, after-tax 59.5 0.65 Adjusted net income / EPS 244.9 2.66 Per share amounts may not recalculate from figures present herein due to rounding 1 1 1 Q1 2025 Earnings webcast Slide 1 Slide 2: Disclaimer Slide 3: Q1 2025 highlights Slide 4: Q1 2025 organic revenue growth - by region Slide 5: Playbook in current environment Slide 6 Slide 7: Color, Additives & Inks – Q1 2025 performance Slide 8: Specialty Engineered Materials – Q1 2025 performance Slide 9: Global reach with a local touch Slide 10 Slide 11: 2025 financial guidance unchanged...
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - German.pdf
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https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - Dutch.pdf
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