https://www.avient.com/investor-center/news/avient-updates-third-quarter-and-full-year-2022-forecast
for full year 2022 to reflect weaker demand conditions and unfavorable foreign exchange
The company has updated its projections to include Dyneema, present the Distribution segment as discontinued operations, and adjust its outlook to reflect current demand conditions and additional unfavorable currency exchange.
To facilitate investor review, Avient has provided pro forma financial information to reflect the Distribution segment as discontinued operations and the Dyneema acquisition as if it occurred on
https://www.avient.com/sites/default/files/AVNT February IR Presentation_w_Non-GAAP Recs.pdf
To provide comparable results, the company references “pro forma” financial
metrics, which include the business results of Avient Protective Materials for periods prior to the Acquisition Date, as if the transaction occurred on January 1, 2021 and reflect Distribution as a discontinued operation.
Three Months
Ended Year Ended
Reconciliation of Pro Forma Adjusted Earnings per Share December 31, 2022
Net (loss) income from continuing operations attributable to Avient
shareholders $ (17.0) $ 82.8
Special items, after tax 38.3 116.2
Amortization expense, after-tax 14.6 49.0
Adjusted net income from continuing operations excluding special
items 35.9 248.0
Pro forma adjustments* 2.5 13.6
APM pro forma amortization expense, after-tax* — 19.1
Pro forma adjusted net income from continuing operations attributable
to Avient shareholders $ 38.4 $ 280.7
Weighted average diluted shares 91.7 92.2
Pro forma adjusted EPS - excluding special items pro forma for APM
acquisition $ 0.42 $ 3.04
* 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.
Three Months Ended
Year Ended
2023 2022 2023 2022
Sales:
Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0
Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4
Corporate (0.2) (1.2) (2.8) (2.5)
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Operating income:
Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0
Specialty Engineered Materials 29.4 35.2 142.5 140.1
Corporate (48.1) (79.1) (205.6) (197.8)
Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3
Other expense, net: $ 4.3 $ (28.4) $ 5.8 $ (59.7)
Depreciation & amortization:
Color, Additives and Inks $ 22.2 $ 25.2 $ 98.3 $ 101.3
Specialty Engineered Materials 19.8 20.3 81.5 48.7
Corporate 2.2 3.1 9.0 12.5
Depreciation & amortization $ 44.2 $ 48.6 $ 188.8 $ 162.5
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 84.0 $ 69.5 $ 358.2 $ 402.3
Specialty Engineered Materials 49.2 55.5 224.0 188.8
Corporate (45.9) (76.0) (196.6) (185.3)
Other expense, net $ 4.3 $ (28.4) $ 5.8 $ (59.7)
EBITDA $ 91.6 $ 20.6 $ 391.4 $ 346.1
Special items in EBITDA 22.3 86.8 110.4 162.5
EBITDA - excluding special items $ 113.9 $ 107.4 $ 501.8 $ 508.6
APM pro forma adjustments - 8 months 2022* — — — 83.1
Pro forma EBITDA $ 113.9 $ 107.4 $ 501.8 $ 591.7
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
3
AVNT February IR Presentation.pdf
Avient corporation�investor presentation
DISCLAIMER
Slide Number 3
Creating a world-class�sustainable organization
Top-tier sustainability performance�and recognition
Slide Number 6
Slide Number 7
Portfolio transformation
Slide Number 9
END MARKET observations�(% of company sales)
Regional observations�(% of company sales)
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
Slide Number 22
2023 segment, end market and Geography
Color, Additives & Inks
Specialty Engineered Materials
Slide Number 26
AVNT Q4 2023 Earnings Presentation.pdf
AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf
IR Deck - AVNT-2023.12.31 (2.12.24 9PM Milestone February 12 0905 pm).pdf
Attachment
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
Avient reflects 2022 estimated revenue of $5,100M and estimated CAPEX of $90M (excludes IT system upgrade of $15M and synergy capture CAPEX of $10M)
Avient PF reflects 2022 modelled revenue of $3,740 and estimated CAPEX of $120M to reflect Dyneema run-rate CAPEX, as well as potential sale of Distribution.
PEERS
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.
https://www.avient.com/resources/safety-data-sheets?page=6171
PBT BLACK IR
PC DEAD FRONT IR TRANS
IR TR GRAPHITE BLACK PA
https://www.avient.com/resources/safety-data-sheets?page=4935
TAN 499 IR NYLON
TAN 499 IR NYLON 73G
TAN 499 IR NYLON 80G
https://www.avient.com/resources/safety-data-sheets?page=5147
TAN IR
TAN IR NYLON
TAN IR ACETAL
https://www.avient.com/resource-center?document_type=59&page=29
Automotive Lighting IR Lens
Edgetek™ ET9400-8005 IR Formulation provided color customization for automotive lighting IR lens of sensor
https://www.avient.com/sites/default/files/2022-10/OnColor NIR Sortable Colorants Product Bulletin.pdf
Automatic sorting equipment
in waste facilities relies on the reflectance of NIR
wavelengths to identify polymers and properly
sort packaging waste by plastic material.
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.
APPLICATIONS
OnColor NIR Sortable Colorants can benefit
the following stakeholders operating within the
packaging industry:
• Retailers
• Brand Owners
• Convertors
• Recycling Facilities
• Packaging Recovery Organizations
GLOBAL APPROVALS
• COTREP approved portfolio available
• APR Meets Preferred Guidance for PE and PP resins
Also sold as Cesa™ IR Black Additives
For any additional information on our color and additive
masterbatch portfolio for packaging and consumer
applications, please contact your local Avient representative.
https://www.avient.com/sites/default/files/2023-03/OnColor NIR Sortable Colorants Product Bulletin.pdf
Automatic sorting equipment
in waste facilities relies on the reflectance of NIR
wavelengths to identify polymers and properly
sort packaging waste by plastic material.
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.
Also sold as Cesa™ IR Black Additives
https://www.avient.com/sites/default/files/2022-06/Colorant Chromatics FEP UV Laser Marking Product Bulletin.pdf
Traditional
printing solutions can lead to the mark peeling off,
while infrared (IR) laser marking can damage the
surface of the jacket.
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.