https://www.avient.com/sites/default/files/2022-07/Avient Announces Second Quarter 2022 Results_1.pdf
AVNT-2022.06.30-News Release
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Second Quarter 2022 Results
• Second quarter sales grew to $1.3 billion, a 5% increase over the prior year quarter, and
an all-time quarterly record
• GAAP EPS increased 24% to $0.92 compared to $0.74 in the prior year quarter
• Adjusted EPS increased 13% to $0.98 compared to $0.87 in the prior year quarter,
exceeding second quarter guidance of $0.92.
# #
Investor Relations Contact:
Giuseppe (Joe) Di Salvo
Vice President, Treasurer and Investor Relations
Avient Corporation
+1 440-930-1921
giuseppe.disalvo@avient.com
Media Contact:
Kyle G.
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
mailto:giuseppe.disalvo@avient.com
mailto:giuseppe.disalvo@avient.com
mailto:kyle.rose@avient.com
6
Attachment 1
Avient Corporation
Summary of Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
June 30,
Six Months Ended
June 30,
2022 2021 2022 2021
Sales $ 1,302.4 $ 1,235.2 $ 2,596.2 $ 2,397.5
Operating Income 129.5 108.1 258.1 228.5
Net income attributable to Avient shareholders 84.7 68.8 168.9 148.1
Basic earnings per share attributable to Avient shareholders $ 0.93 $ 0.75 $ 1.85 $ 1.62
Diluted earnings per share attributable to Avient shareholders $ 0.92 $ 0.74 $ 1.83 $ 1.60
Senior management uses comparisons of adjusted net income attributable to Avient shareholders and diluted adjusted earnings
per share (EPS) attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability
of results.
https://www.avient.com/sites/default/files/2020-10/2019-avient-sustainability-report.pdf
Suzhou, China 1.
Kalol, India 1.
Rancho Cucamonga, California 1.
https://www.avient.com/sites/default/files/2020-03/2020proxy.pdf
1) Adjusted EPS reported in this proxy statement differs from what is reported under United States GAAP.
Kunkle, Senior Vice President,
General Counsel and Secretary(1)
Joel R.
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https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Morgan%2520Stanley%2520Global%2520Chemicals%2520and%2520Agriculture%2520Conference%2520-%252011%253A15%253A2016.pdf
1) Special items are a non-GAAP financial measure and are used to determine adjusted earnings.
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De gemaakte PDF-documenten kunnen worden geopend met Acrobat en Adobe Reader 5.0 en hoger.)
https://www.avient.com/sites/default/files/2022-04/Sustainable Material Answers_ Circular Economy 2022.pdf
SOURCE: https://www.circularity-gap.world/updates-collection/countries-critical-in-achieving-a-global-circular-economy
SOURCE: https://www.construcia.com/en/noticias/which-countries-are-leading-the-change-in-circular-economy/
Avient is committed to solving the world’s most complex materials science challenges, which includes creating
innovations that contribute to restorative and regenerative systems.
SOURCE: https://www.gartner.com/en/newsroom/press-releases/2019-09-26-gartner-predicts-
circular-economies-will-replace-line
SOURCE: https://www.greenbiz.com/article/6-circular-economy-trends-will-shape-2020
What Up Next for
the Circular Economy?
https://www.gartner.com/en/newsroom/press-releases/2019-09-26-gartner-predicts-circular-economies-will-replace-line
https://www.gartner.com/en/newsroom/press-releases/2019-09-26-gartner-predicts-circular-economies-will-replace-line
https://www.greenbiz.com/article/6-circular-economy-trends-will-shape-2020
Overcoming Challenges to
Achieve Circularity
A global understanding is key to facilitating the growth of the
circular economy and spreading its benefits across the world.
https://www.avient.com/sites/default/files/2020-09/sustainabilityreport2018.pdf
Tossiat, France 1.
Tossiat, France 1.
ONCOLOR™ NON-HALOGEN COLORANTS FOR
WIRE & CABLE meet many standard wire and cable
specifications, including RAL, IEC, BS and AFNOR.
https://www.avient.com/sites/default/files/2024-02/Gravi-Tech REC Recycled Formulations Product Bulletin.pdf
KEY CHARACTERISTICS
• Customized density offering a wide range of
specific gravities (1.2–11 gm/cm3)
• Based on recycled resin from PIR and PCR
sources
• Broad modulus range, from very flexible to very
rigid grades
• Corrosion resistance that withstands oxidization
for long-term use and benefit
• Chemical resistance can be adapted depending
on base resin as required
• Provides visual surface effects, aesthetics, and
cool touch
• Design flexibility and processing ease
MARKETS AND APPLICATIONS
Applications in packaging and consumer goods in
which a more sustainable solution is preferred:
• Cosmetic caps and closures
• Perfume caps
• Spirit bottle caps
• Luxury boxes
• Handles and knobs
SUSTAINABILITY BENEFITS
• Formulated with recycled resin from
post-industrial recycled (PIR) and/or
post-consumer recycled (PCR) sources including
ocean bound plastic waste
• Reduces waste and supports the circular
economy
• Reduces carbon footprint compared to fossil
feedstock alternatives
• Simplifies manufacturing and lowers costs
versus metal
PRODUCT BULLETIN
CHARACTERISTICS UNITS
Gravi-Tech REC-CI
GT5200-5089 PT
Natural
Gravi-Tech REC
GT5200-5075
Black X2
Gravi-Tech REC
GT5200-5078
Black
Gravi-Tech REC
GT5200-5079
Black
Gravi-Tech REC
GT5200-5060
Black
Gravi-Tech REC
GT5200-5057
Black
Base Resin
Ocean Bound
rPP
rPP rPP rPP rPP rPP
Recycled Content/Filler g/cm >98% PIR+PCR 60% PIR/Mineral
>95%
PIR/Mineral
>95%
PIR+PCR/Mineral
30% PIR/Mineral 30% PIR/Mineral
Density (ISO 1183) g/ccm 1.2 1.2 1.2 1.2 1.9 2.0
CHARACTERISTICS UNITS
Gravi-Tech REC
GT7300-5034 X2 FD
Natural
Gravi-Tech REC
GT7300-5036
Black
Gravi-Tech REC
GT7300-5025
Black
Gravi-Tech REC
GT6000-5032
Black
Gravi-Tech REC
GT6000-5031
Black
Base Resin ABS rABS/ABS rABS rPA6 rPA6
Recycled Content/Filler g/cm 50% PIR/Mineral 65% PIR/Mineral 10% PIR/Mineral 20% PIR/Mineral 20% PIR/Mineral
Density (ISO 1183) g/ccm 1.5 1.5 2.2 2.7 2.8
AVAILABLE GRADES
Copyright © 2024, Avient Corporation.
https://www.avient.com/sites/default/files/2021-07/moisture-resistant-nylon-lft-technical-bulletin.pdf
This literature shall NOT operate as permission, recommendation, or inducement to practice any patented invention without permission of the patent owner.
0%
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Te
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Hours Submerged
Tensile Strength Retention
Standard Nylon 6/6, 50% Long Glass Fiber
Moisture Resistant Nylon 6/6, 50% Long Glass Fiber
Specialty Nylon 6/12, 50% Long Glass Fiber
https://www.avient.com/sites/default/files/2025-03/ColorMatrix Smartheat RHC Technical Bulletin.pdf
Body Weight
Active LDR (ppm)
—— Body Weight —— Max Load
Bo
dy
W
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gh
t (
g)
M
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L
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(lb
s)
Active LDR (ppm)
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(k
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En
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0 10 25
0 17 34 51
30%
1.844.4AVIENT
www.avient.com
Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
Avient acquired the Clariant Color business on July 1, 2020 (the “Acquisition Date”).
Morgan
• New Senior Secured Term Loan B and new Senior
Unsecured Notes
• Potential proceeds from sale of Distribution business
modeled to pay off 5.25% senior notes due 2023 and
Term Loan
• Acquisition aligned with Avient’s track record of
disciplined capital allocation policy
• Existing dividend policy maintained, focus on
deleveraging in the near term
(1)
(1) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution,
including repayment of senior notes due 2023 and Term Loan
Cash and Cash Equivalents 595$
Senior Secured Term Loan due 2026 605$
New Senior Secured Term Loan B 500
Total Senior Secured Debt 1,105$
Senior Unsecured Notes due 2025 650$
New Senior Unsecured Notes 740
Total Senior Unsecured Debt 1,390$
Total Debt 2,495$
Net Debt 1,900$
2022 Pro forma Adjusted EBITDA 660$
Net Debt / Adjusted EBITDA 2.9x
Pro Forma Capitalization
(2022 estimates, all figures in $M)
T WO - Y E A R L E V E R AG E G OA L
24
3.5x
2.7x
1.7x
2.9x
2.5x
2.2x
2019PF 2020PF 2022E 2022PF 2023E 2024E
Dyneema® AcquisitionClariant Color Acquisition
(1) Pro forma for the acquisition of the Clariant Color business
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of
Distribution, including repayment of senior notes due 2023 and Term Loan
(1) (1) (2)
25
P RO F O R M A M O D E L I N G
2022E Pro Forma Pro Forma
($M) w/ Dyneema w/Sale
Revenue 5,100$ 415$ 5,515$ (1,775)$ 3,740$
Adjusted EBITDA 635 130 765 (105) 660
EBITDA % 12% 31% 14% 6% 18%
Pro Forma EPS (Adjusted) 3.50$ 0.00$ 3.50$ (0.56)$ 2.94$
Pro Forma EPS (excl. amortization) 3.96$ 0.35$ 4.31$ (0.56)$ 3.75$
Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.7x 3.5x 2.9x
Avient Dyneema Distribution® ®
OUR SPECIALTY JOURNEY
AC Q U I S I T I O N H I S TO RY
27
Commercial
Resources(1)
Operating Income
($ in millions)
Operating Margins
259
360
At Acquisition 2021
$40
$122
At Acquisition 2021
9%
21%
At Acquisition 2021
Established Acquisitions
(> 7 years)
+ 39% + 210% + 1200 bps
(1) Commercial Resources include associate headcount in R&D / Technical, Marketing and Sales
C L A R I A N T C O LO R AC Q U I S I T I O N
28
$133
$205
2019PF 2021
28
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.1x
2019PF 2021 2021 w/ Full
Synergies
• 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
• $54 million of synergies realized in 2021
• Acquisition completed on July 1, 2020 for $1.45 billion.
Purchase price multiple rapidly declining on strength of
business and synergy capture
(1)
(1)
(1) Financial information is pro forma to include a full year of Clariant Color acquisition
($ in millions)
11.9%
16.2%
2019PF 2021
EBITDA Margins
(1)
S P E C I A LT Y T R A N S F O R M AT I O N
7%
46%
66%
86%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2021 2022 PF
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(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution
(2)
29
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Median: 21%Median: 15%
2 0 2 2 E B I T DA M A RG I N S V S .