https://www.avient.com/sites/default/files/2022-12/Mevopur Healthcare Colorants and Formulations_Functional Additives for IVD Devices Bulletin.pdf
FUNCTIONALITY TARGET APPLICATIONS BLOOD COLLECTION
REAGENT
CONTAINERS/
KITS
PIPETTE/
LABWARE
SELF-TESTING/
POCT
INSTRUMENT/
ACCESSORIES
Colorants for coding
for lab automation/
identification
Wide range of colors in various polymers,
available in ready-to-use formulation or
concentrate adapted to your process
Colors –
low migration/
interference
Ready-to-use formulation to avoid
interference with analytical tests;
extractable metal data
Colors – biologically
evaluated
Reduced risk of non compliance to current
and proposed regulations such as IVDR
Color in PP, ABS, PC
and high temperature
polymers with
UL listings
Ready-to-use solutions/concentrates
supporting Underwriters Laboratory
requirements of electric enclosures
Antistatic for PP,
ABS, PC/ABS
Permanent/non-migrating ready-to-use
formulation; fast decay time independent
of % relative humidity
Clarifying PP
Sorbitol-free, minimizing
potential migration
Laser marking for
UDI replacing ink
printing/labels
Activation of the polymer to laser energy
give high contrast solvent-free,
high speed identification
Laser welding for fast,
reliable assembly of
a range of polymers
Custom concentrates and ready-to-use
formulations for optically transparent
and opaque colors while allowing laser
transmission/absorption
Nucleation of
semicrystalline
polymers e.g.
AVIENT MAKES NO WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the information.
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/resources/PolyOne%2520IR%2520Presentation%2520-%2520Gabelli%2520%2526%2520Co%2520Specialty%2520Chemicals%2520Conference.pdf
Use of Non-GAAP Measures
4POLYONE CORPORATION
FORMULATION
EXPERTISE SERVICE INNOVATION
Expertise in
Polymer
Materials,
Services and
Solutions
OEMs
Brand Owners
Processers
Assemblers
IQ Design Labs
InVisiOSM Color
Services
LSS Customer
First
Specialty products & services driving customer value
What We Do
5POLYONE CORPORATION
PolyOne At a Glance
2017 Revenue – $3.2 billion
Performance
Products &
Solutions
21%
PolyOne
Distribution
34%
Specialty
Engineered
Materials
19%
Color
Additives
& Inks
26%
United
States
59%
Europe
14%
Latin
America
9%
Canada
8%
Asia
10%
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
2009 2010 2011 2012 2013 2014 2015 2016* 2017
Transportation
18%
Consumer
12%
Healthcare
11%
Packaging
11% Industrial16%
Building &
Construction
12%
Wire &
Cable 9%
Electrical &
Electronics
6%
Appliance
5%
*Recast for DSS in discontinued operations
6POLYONE CORPORATION
2%
43%
76%
0%
20%
40%
60%
80%
100%
2005 2010 2017
%
o
f O
pe
ra
tin
g
In
co
m
e*
*Operating Income excludes corporate charges and special items
Specialty OI $5M $87M $280M
JV’s Performance Products & Solutions
Specialty MixDistribution
Mix Shift Highlights Specialty Transformation
Distribution and Contract
Manufacturing Businesses
7POLYONE CORPORATION
Consistently Deliver Double Digit Annual EPS Growth
*ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period
Proof of Performance
2020 Platinum Vision
20%+
20%+
12 - 14%
6.5 – 7.5%
15%
2006 2017 2020
“Where we were” “Where we are” Platinum Vision
ROIC* 5.0% 14.0%
Operating Income % of Sales
Color, Additives & Inks 1.7% 15.5%
Specialty Engineered Materials 1.1% 12.5%
Performance Products & Solutions 5.5% 10.7%
Distribution 2.6% 6.3%
8POLYONE CORPORATION
$50
$116
$0
$40
$80
$120
$160
$200
2012 2014 2016 2018
10.8%
11.3%
10.0%
11.0%
12.0%
13.0%
14.0%
15.0%
2012 2014 2016 2017 2020
Platinum
Vision
*ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period
Free Cash Flow and Improving Returns
Free Cash Flow (in millions) ROIC*
$200 - $220
14.0%
$143
12.9%
15.0%
9POLYONE CORPORATION
$767M
Returning Cash to Shareholders
$0
$150
$300
$450
$600
$750
2011 2012 2013 2014 2015 2016 2017
Since 2011, we have returned over $950 million to shareholders
$767M
Cumulative Share Repurchases (in millions)
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.58
$0.70
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
3-Year Dividend Plan
Increasing Annual Dividend
10POLYONE CORPORATION
Expanding our sales,
marketing, and
technical capabilities
Investing in
operational and LSS
initiatives
~60 - 70% of capital
expenditures fund
growth initiatives
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Growth synergies
Adjacent material
solutions
Repurchased 2.0
million shares
in 2017
Repurchased 20.8
million shares
since early 2013
6.5 million shares
are available for
repurchase under
the current
authorization
Increased annual
dividend by 30% to
$0.70 per share,
representing the
eighth consecutive
year of dividend
growth
Expect to increase
annual dividend 60%
or more cumulatively
over next three years
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
11POLYONE CORPORATION
*Specialty Platform revenue from products introduced in last five years
Vitality Index Progression*
12%
38%
2006 2017
Target ≥ 35%
Innovation Drives Earnings Growth
$20
$52
2006 2017
Research & Development Spend
($ millions)
Total Specialty Addressable Market of over $2.6 Billion
(10 Projects) (10 Projects)
($500 million)
(19 Projects)
($1.4 billion)
Innovation Pipeline Potential
Frame
Opportunity
Prototype Scale-up and
Test Market
Commercial
Launch
$500 Million $1.4 Billion $700 Million
Phase 5Phase 4Phase 3Phase 2Phase 1
Build Business
Case
12POLYONE CORPORATION
2017 2021
Key Innovation Growth Platforms
Composites
Barrier Additive
Technology
Fiber Colorants
Flame Retardant
Polymers
Increasing regulatory drive for halogen replacements
$400m addressable market
Drive to prevent oxygen, light and UV rays from affecting
contents in PET packaging, extending shelf life
$200m addressable market
60% of world fiber consumption is synthetic, need to
simplify manufacturing and eliminate waste
$300m addressable market
Polymer formulation and process engineering create a
pipeline for next generation materials
Drive to replace aluminum and steel with plastics without
compromising on strength
Total Sales
($millions)
2017 2021
2017 2021
2017 2021
13POLYONE CORPORATION
Providing LSS services to
small/medium sized customers –
have trained over 30 customers
in LSS methodology
Providing Industrial design and
color services to small/medium
sized customers
On time delivery above 95%
Strengthening Relationships:
Customer First Through World-Class Service
14POLYONE CORPORATION
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution are
working
Megatrends and emerging opportunities align with strengths
Innovation and services provide differentiation, incremental pricing
power and competitive advantage
Strategic reinvestment for growth while returning cash to shareholders
Strong and proven management team driving growth and performance
Why Invest In PolyOne?
The New PolyOne: A Specialty Growth Company
Segment Highlights
16POLYONE CORPORATION
1.7%
4.6% 5.1%
5.5%
7.2% 8.1%
9.7%
12.2%
14.7%
16.7%
16.0%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2020
2017 Revenue: $0.9 Billion
Key End Markets (% of revenue)
United
States
46%
Europe
31%
Asia 15%
Latin
America
4%
South
America
2%
Canada
2%
Platinum
Vision
Packaging
(27%)
Industrial
(14%)
Wire & Cable
(10%)
Textiles
(12%)
Transportation
(8%)
15.5%
Operating Income % of Sales
Color, Additives & Inks
At a Glance
17POLYONE CORPORATION
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6%
9.3%
12.1%
14.7%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2020
Platinum
Vision
United
States
48%
Europe
28%
Asia
22%
Canada
2%
Consumer
(20%)
Transportation
(19%)
Electrical & Electronics
(15%)
Wire & Cable
(13%)
Healthcare
(11%)
12.5%
20%+
Key End Markets (% of revenue)
2017 Revenue: $0.6 Billion Operating Income % of Sales
14.3%
Specialty Engineered Materials
At a Glance
18POLYONE CORPORATION
5.5%
6.9%
3.8%
3.6%
5.5%
4.3%
6.3%
7.2% 7.7%
8.3%
12-14%
10.7%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2020
11.1%
United
States
77%
Canada
16% Latin America
5%
Asia
2%
Platinum
Vision
Building & Construction
(30%)
Transportation
(16%)
Wire & Cable
(15%)
Industrial
(18%)
Key End Markets (% of revenue)
2017 Revenue: $0.7 Billion Operating Income % of Sales
Performance Products & Solutions
At a Glance
19POLYONE CORPORATION
Transportation
23%
Healthcare
22%
Industrial
18%
Consumer
15% Appliance
7%
E & E
6%
B & C
4%
Packaging
3%
W & C
2%
4%
38%
2006 2017
ROIC*
2.6%
3.0% 3.5%
4.6%
5.6%
6.4% 5.9% 6.1%
6.6% 6.5 - 7.5%6.3%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2020
*After-Tax ROIC
6.4%
2017 Revenue: $1.2 Billion Key Suppliers
Operating Income % of Sales
4.0%
Platinum
Vision
Distribution
At a Glance
http://www.polyone.com/Pages/VariationRoot.aspx
http://www.polyone.com/Pages/VariationRoot.aspx
Target End Markets &
Application Examples
21POLYONE CORPORATION
Thermally Conductive
Technologies
Chemical Resistant
Technologies
Polymer Colorants
Elastomeric Grips and Handles
Structural Composites
Antimicrobial Technologies
Anti-Counterfeiting
Technologies
Target End Markets… Healthcare
Catheter Technologies
22POLYONE CORPORATION
Under-hood Components
Target End Markets… Automotive
Interior Structural Components
Sound & Vibration Management
Roof Systems
Air Management
Electronics and Cameras
Lighting
Exterior / Interior Trim
Braces & Brackets
Fasteners
Seals & Flaps
23POLYONE CORPORATION
Target End Markets… Consumer
Thermally Conductive
Components
Polymer Colorants
Elastomeric Grips and
Handles
Structural Composite
Components
24POLYONE CORPORATION
Oxygen Scavenger
Technologies
Laser Marking Additives
Antistatic Technologies
UV Light Barrier Technologies
Cap & Closure Colorants
Process Optimization
Technologies
Antioxidant Technologies
Density Modified Technologies
Target End Markets… Packaging
25POLYONE CORPORATION
Impart weight, sound and
metallic finish to caps and
closures for cosmetics and
spirits applications
Elevate quality and prestige
perceptions among high-end
consumers
Eliminate time and cost
associated with secondary
operations and assembly
Luxury Packaging
GravitechTM Density Modified Polymers
26POLYONE CORPORATION
Optimize Color Usage
OnColorTM Super Concentrates
Eliminate costs by increasing
pigment density
Enhance color performance
without altering form and
formulation
Increasing design capabilities
by reducing weight and layer
thickness
27POLYONE CORPORATION
Combat Bacteria Formation
WithStandTM Antimicrobial Technology
Inhibit microbial growth on
polymer surfaces
Enhance value or products
and devices
Highly versatile concentrate
with the ability to be
incorporated into a wide
variety of products
28POLYONE CORPORATION
Medical Device Housings
Chemically Resistant Engineered Polymers
Durable, long-lasting products
stand up to the most
aggressive disinfectants
Minimize environmental
stress cracking and
discoloration
One of the broadest medically
approved polymer and
colorant portfolios
29POLYONE CORPORATION
Color & Design Services
Greater control of color
development and supply chain
Work across entire design
process from concept to
commercialization
Inspire creativity in the use of
polymer materials, colors, and
effects
Innovative brand differentiation
Faster development timelines
30POLYONE CORPORATION
Outdoor Applications
Leading provider of high
performance specialty materials
for the recreational and sports
& leisure industry
Well positioned across all
segments to address market
needs
Metal to Polymer
Conversion
Lightweighting
Thermal Management
Impact Performance
31POLYONE CORPORATION
ColorMatrix Fiber Colorant
Solutions
Proprietary advanced liquid color
formulations and equipment
enable greater efficiency and
productivity
Eliminates aqueous dyeing and
its associated wastewater
treatment
Solid Color Concentrates
Extrusion-spun fibers colored via
solid masterbatch
Fiber Colorants
32POLYONE CORPORATION
Smart Home Devices
ResilienceTM Vinyl Solutions
High flame retardancy to meet
strict UL standards
Greater processing and design
flexibility
Specialized additives provide
long term color stability
Diffusive lens materials improve
light dispersion
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne common shareholders, adjusted earnings per share (EPS)
attributable to PolyOne common shareholders and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to assess performance and allocate resources
because senior management believes that these measures are useful in understanding current profitability levels and that current levels may serve as a base for future performance.
Adjusted EPS attributable to PolyOne common shareholders is calculated as follows:
2009* 2010* 2011* 2012* 2013* 2014* 2015* 2016 2017
Net income from continuing operations attributable
to PolyOne common shareholders $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6 $ 166.4 $ 173.5
Joint venture equity earnings, after tax (19.0) (14.7) (3.7) — — — — — —
Special items, before tax(1) (48.7) 24.2 (48.1) 55.1 46.3 164.2 87.6 23.8 32.9
Special items, tax adjustments(1) (27.2) (96.7) (24.7) (18.9) (13.7) (73.7) (58.7) (15.9) (24.8)
Adjusted net income from continuing operations
attributable to PolyOne common shareholders $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5 $ 174.3 $ 181.6
Diluted shares 93.4 96.0 94.3 89.8 96.5 93.5 88.7 84.6 82.1
Adjusted EPS attributable to PolyOne common
shareholders $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96 $ 2.06 $ 2.21
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principle, discontinued operations or the related resegmentation
https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
P E E R S
Avient today reflects 2022 estimated EBITDA of $635M and revenue of $5,100.
Avient pro forma reflects 2022 estimated EBITDA of $660M and revenue of $3,740M.
Three Months Ended
March 31, 2022
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating Income $ 128.6 $ 7.8 $ 136.4
Income before income taxes $ 111.1 $ 7.7 $ 118.8
Income tax expense - GAAP (26.6) — (26.6)
Income tax impact of special items — (2.0) (2.0)
Tax adjustments — 1.5 1.5
Net income attributable to noncontrolling interests (0.3) — (0.3)
Net income attributable to Avient shareholders $ 84.2 $ 7.2 $ 91.4
EPS $ 0.91 0.08 $ 0.99
Weighted-average diluted shares 92.3 92.3 92.3
1
Three Months Ended
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating Income $ 120.4 $ 2.4 $ 122.8
Income before income taxes $ 102.6 $ 2.4 $ 105.0
Income tax expense - GAAP (22.9) — (22.9)
Income tax impact of special items — (0.9) (0.9)
Tax adjustments — 1.1 1.1
Net income attributable to noncontrolling interests (0.4) — (0.4)
Net income attributable to Avient shareholders $ 79.3 $ 2.6 $ 81.9
EPS $ 0.86 0.03 $ 0.89
Weighted-average diluted shares 92.2 92.2 92.2
Year Ended
December 31, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating income $ 381.2 $ 47.8 $ 429.0
Income from continuing operations before income taxes $ 304.6 $ 57.1 $ 361.7
Income tax expense - GAAP (74.0) — (74.0)
Income tax impact of special items — (13.0) (13.0)
Tax adjustments — 5.9 5.9
Net income attributable to noncontrolling interests 0.2 — 0.2
Net income from continuing operations attributable to Avient shareholders $ 230.8 $ 50.0 $ 280.8
EPS $ 2.51 0.54 $ 3.05
Weighted-average diluted shares 92.1 92.1 92.1
2
Reconciliation of EBITDA by Segment
Three Months Ended
March 31,
Year Ended
December 31,
2022 2021 2021
Operating income:
Color, Additives and Inks $ 94.5 $ 88.8 $ 303.1
Specialty Engineered Materials 39.7 34.2 132.0
Distribution 24.2 24.0 93.2
Corporate and eliminations (29.8) (26.6) (147.1)
Operating income $ 128.6 $ 120.4 $ 381.2
Items below OI in Corporate:
Other income, net $ (0.6) $ 1.5 $ (1.3)
Depreciation & amortization:
Color, Additives and Inks $ 26.0 $ 27.4 $ 105.7
Specialty Engineered Materials 7.8 7.8 31.7
Distribution 0.2 0.2 0.8
Corporate and eliminations 3.8 1.7 7.7
Depreciation & Amortization $ 37.8 $ 37.1 $ 145.9
EBITDA:
Color, Additives and Inks $ 120.5 $ 116.2 $ 408.8
Specialty Engineered Materials 47.5 42.0 163.7
Distribution 24.4 24.2 94.0
Corporate and eliminations (26.0) (24.9) (140.7)
EBITDA $ 165.8 $ 159.0 $ 525.8
Reconciliation of Sales, Operating Income and EBITDA - Distribution
Year Ended
December 31,
2006 2011 2016
Sales $ 732.8 $ 996.5 $ 1,071.0
Operating income 19.2 56.0 68.2
Depreciation & amortization 1.5 0.7 0.7
EBITDA $ 20.7 $ 56.7 $ 68.9
3
Three Months Ended
March 31,
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2021
Net income from continuing operations – GAAP $ 84.5 $ 79.7 $ 230.6
Income tax expense 26.6 22.9 74.0
Interest expense 16.9 19.3 75.3
Depreciation and amortization from continuing operations 37.8 37.1 145.9
EBITDA $ 165.8 $ 159.0 $ 525.8
Special items, before tax 7.7 2.4 57.1
Depreciation and amortization included in special items (2.1) (0.5) (1.7)
Adjusted EBITDA $ 171.4 $ 160.9 $ 581.2
4
Masseto IR Presentation - Final.pdf
Avient Corporation �specialty Portfolio Transformation Continues with Dyneema Acquisition
DISCLAIMER
Slide Number 3
Slide Number 4
Slide Number 5
Q1 2022 SALES AND OPERATING INCOME�(Total Company)
Slide Number 7
Slide Number 8
Slide Number 9
Slide Number 10
FIT with Four Pillar Strategy
Dyneema® overview
Slide Number 13
Slide Number 14
Dyneema® in the Value Chain
Demand trends
Products
Avient’s Existing Composites Portfolio
Avient’s Composites Portfolio�Sales and Ebitda
Distribution Divestiture Considerations
Distribution highlights
Dyneema® Transaction Overview
Capital structure / Leverage
Two-Year Leverage Goal
Pro forma modeling
Our Specialty Journey
Acquisition History
Clariant Color Acquisition
Specialty Transformation
2022 ebitda margins vs. peers
Culture and People
Our Specialty Journey continues
Slide Number 33
Avient Acquisition of Dyneema and Q1 2022 Results.pdf
Masseto IR Presentation - 4.19 (515pm) - with attachments.pdf
https://www.avient.com/products/polymer-additives/colorants-and-additives-wire-cable/cesa-aversive-technology
Non-Phthalate Vinyl Plastisols: CORE™
Plastisols that provide the durability and flexibility you need without phthalates
https://www.avient.com/sites/default/files/2023-12/CAI W_C - Product Selection Guide EMEA_0.pdf
Eliminates use of consumables,
such as inks and solvents.
AVIENT MAKES NO WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the
information.
https://www.avient.com/sites/default/files/2022-08/ColorMatrix Excelite Product Bulletin.pdf
Consistency of surface both chemically and physically leads to more even wetting
of the ink which ensures good dot definition—the key to higher quality digital print images.
AVIENT MAKES NO WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the information.
https://www.avient.com/sites/default/files/2025-02/Avient Investor Presentation - February 2025_w_Non-GAAP.pdf
$3.2B $526M
80+ 100+
2011
37%
63%
2024 sales
by business segment
Specialty
Engineered
Materials
SEM
Color,
Additives
& Inks
CAI
2024 sales by end market
41%
35%
18%
6%
2024 sales
by region
US,
Canada
LATAM
Asia
EMEA
PACKAGING
23%
CONSUMER
20%
INDUSTRIAL
15%
TRANSPORTATION
10%
BUILDING & CONSTRUCTION
10%
HEALTHCARE
8%
DEFENSE
7%
ENERGY
4%
TELECOM
3%
2024 SALES 2024 ADJ.
All Rights Reserved
2025 17
Color, Additives & Inks – full year 2024 performance
Sales
2,007
2,047
FY 2023 FY 2024
EXCL.
All Rights Reserved
2025
Color, Additives & Inks
E N D M A R K E T S R E G I O N S
34%
21%
15%
11%
9%
8%
Packaging
Telecom 1%Energy 1%
Transportation
Industrial
Consumer
34%
37%
20%
9%
US & Canada
Latin America
Asia
Europe, Middle East
and Africa
Healthcare
Building &
Construction
25Copyright © .
https://www.avient.com/sites/default/files/2022-03/Avient 2021 Annual Report.pdf
Senior Director,
Human Resources, Color, Additives and Inks, 2013 to 2016.
The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs.
Color, Additives and Inks
Color, Additives and Inks is a leading formulator of specialized custom color and additive concentrates in solid and
liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks.
https://www.avient.com/products/polymer-colorants/colorant-dispersions/colorants-liquid-silicone-rubber
Silicone Colorants and Vinyl Plastisols for Stethoscopes
Provided silicone paste colorant dispersions and vinyl plastisols for harmonized color across materials