https://www.avient.com/sites/default/files/resources/PolyOne%2520Investor%2520Presentation%2520Jefferies%25202013%2520Global%2520Industrial%2520Conference_Posting.pdf
EPS: $1.00
$0.54
$0.68
$0.30
$0.45
$0.60
$0.75
H1'12 H1'13
Adjusted EPS
$101.0
$132.6
$50.0
$100.0
$150.0
H1'12 H1'13
Adjusted Operating Income
(millions)
+31%
$68.8
$97.7
$50.0
$75.0
$100.0
H1'12 H1'13
Specialty Operating Income
(millions)
First Half 2013 Financial Highlights
• Adjusted EPS increased 26% over prior
year first half
• Operating Income expanded 31%
versus first half 2012
• Specialty operating income up 42%
• Revenue grew 22% versus 1H ‘12
• Portfolio transformation activities
Completed acquisition of Spartech
Divested non-core Resin business
+26%
+42%
Page 12
• Significant Debt Maturities $ 1,010
Other Debt 21
• Total Debt at 6/30/13
Less: Cash
Net Debt
• Available Liquidity
Cash
ABL Availability
Total Liquidity
• Net Debt / EBITDA = 1.9x*
• Net Debt / EBITDA = 2.1x*(tax adjusted)
$392
310
$702
$1,031
392
$639
$50
$360
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Significant Debt Maturities
As of June 30, 2013
($ millions)
Page 13
Coupon Rates: 7.500% 7.375% 5.250%
*Pro Forma TTM
Debt Maturities & Liquidity Summary – 6/30/13
Cash Balance = $392M
Net Debt / EBITDA* = 1.9x
• Repurchased
~3.0M shares
YTD in 2013
• 17 million shares
are available for
repurchase under
the current
authorization
Share
Repurchase
• Introduced a
quarterly dividend
in Q1 2011 and
increased in Q1
2012 (25%) and
Q1 2013 (20%)
• Objective of
maintaining and
growing
Dividends
• Expanding our
sales, marketing,
and technical
capabilities is top
priority
• Investing in
operational and
LSS initiatives
(including synergy
capture)
• CAPEX
Organic
Growth
• Targets that expand our:
• Specialty offering
• End market presence
• Geographic footprint
• Synergy opportunities
• Adjacent material solutions
• North American
manufacturing alignment
Acquisitions
*TTM 6/30/2013
Use of Cash
Page 14
Why Invest In PolyOne?
Platform sales and operating income (OI) 2006Y* 2008Y* 2010Y* 2012Y* 2012PF**
Global Specialty Engineered Materials Sales $ 345.3 $ 514.0 $ 517.4 $ 543.6 $ 773.0
Global Color, Additives and Inks Sales 531.8 554.3 527.4 703.5 828.5
Designed Structures and Solutions - - - - 850.6
Specialty Platform Sales $ 877.1 $ 1,068.3 $ 1,044.8 $ 1,247.1 $ 2,452.1
Performance Products and Solutions Sales 1,166.2 1,001.4 776.3 837.0 696.1
PolyOne Distribution Sales 732.8 796.7 911.9 1,030.3 1,030.3
Corporate and Eliminations (153.7) (127.7) (111.1) (121.8) (121.6)
Total Sales $ 2,622.4 $ 2,738.7 $ 2,621.9 $ 2,992.6 $ 4,056.9
Global Specialty Engineered Materials OI $ 3.9 $ 17.6 $ 49.7 $ 47.0 $ 47.7
Global Color, Additives and Inks OI 8.9 28.1 37.7 66.8 81.6
Designed Structures & Solutions OI - - - - 20.9
Specialty Platform OI $ 12.8 $ 45.7 $ 87.4 $ 113.8 $ 150.2
Performance Products and Solutions OI 64.2 31.3 54.0 74.9 37.4
PolyOne Distribution OI 19.2 28.1 42.0 66.0 66.0
Sunbelt Joint Venture OI 102.9 28.6 18.9 - -
Corporate and eliminations (4.6) (28.9) (32.5) (33.7) (40.0)
Special items in OI 39.1 (396.2) 4.8 (53.9) (53.9)
Operating income (loss) GAAP $ 233.6 $ (291.4) $ 174.6 $ 167.1 $ 159.7
Sunbelt equity income (107.0) (32.5) (23.1) - -
Special items in OI (39.1) 396.2 (4.8) 53.9 53.9
Operating income adjusted $ 87.5 $ 72.3 $ 146.7 $ 221.0 $ 213.6
Global Specialty Engineered Materials - OI % of sales
1.1%
3.4%
9.6% 8.6% 6.1%
Global Color, Additives and Inks - OI % of sales 1.7% 5.1% 7.1% 9.5% 9.8%
Designed Structures & Solutions – OI % of sales - - - - 2.5%
Specialty platform OI - % of sales 1.5% 4.3% 8.4% 9.1% 6.1%
PP&S operating OI - % of sales 5.5% 3.1% 7.0% 9.0% 5.4%
Distribution OI - % of sales 2.6% 3.5% 4.6% 6.4% 6.4%
PolyOne OI adjusted - % of sales 3.3% 2.6% 5.6% 7.4% 5.3%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and exclude the Resin business assets.
*** Restated results to exclude the Resin business and to remove Specialty Coatings from the Performance Products and Solutions segment into
Global Color, Additives and Inks segment.
Average Debt Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average
PolyOne Debt $ 705.8 $ 705.2 $ 706.9 $ 1,055.5 $ 1,031.2 $ 840.9
Average Equity Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Average
PolyOne shareholders’ equity $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 993.9 $ 745.7
Platform sales and operating income (OI) H1 2012*** H1 2013***
Global Specialty Engineered Materials Sales $ 280.9 $ 352.0
Global Color, Additives and Inks Sales 413.9 434.7
Designed Structures & Solutions Sales - 240.4
Specialty Platform Sales 694.8 1,027.1
Performance Products and Solutions Sales 336.0 336.7
PolyOne Distribution Sales 533.6 543.1
Corporate and Eliminations (62.3) (68.2)
Total Sales $ 1,502.1 $ 1,838.7
Global Specialty Engineered Materials OI $ 24.6 $ 32.5
Global Color, Additives and Inks OI 44.0 54.7
Designed Structures & Solutions OI - 10.5
Specialty Platform OI $ 68.6 $ 97.7
Performance Products and Solutions OI 19.3 27.5
PolyOne Distribution OI 33.4 33.1
Corporate and eliminations (20.3) (25.7)
Special items in OI (20.3) (11.4)
Operating income - GAAP $ 80.7 $ 121.2
Special items in OI 20.3 11.4
Operating income adjusted $ 101.0 $ 132.6
Global Specialty Engineered Materials - OI % of sales
8.8% 9.2%
Global Color, Additives and Inks - OI % of sales 10.6% 12.6%
Designed Structures & Solutions – OI % of sales - 4.4%
Specialty platform OI % of sales 9.9% 9.5%
PP&S operating OI % of sales 5.7% 8.2%
Distribution OI % of sales 6.3% 6.1%
PolyOne OI adjusted, % of sales 6.7% 7.2%
Reconciliation to Condensed Consolidated Balance Sheets H1 2013
Short-term debt and current portion of long-term debt $ 8.7
Long-term debt 1,022.5
Less cash and cash equivalents (392.4)
Specialty Platform Gross Margin Percentage 2006Y* Q2 2013****
Global Specialty Engineered Materials Sales $ 345.3 $ 143.5
Global Color, Additives and Inks Sales 531.8 207.5
Specialty Platform Sales $ 877.1 $ 351.0
Global Specialty Engineered Materials Gross Margin $ 41.6 37.3
Global Color, Additives and Inks Gross Margin 83.6 71.8
Specialty Platform Gross Margin $ 125.2 $ 109.1
Specialty Platform Gross Margin Percentage 14.3% 31.1%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520Sidoti%2520wNonGAAP%2520Rec.pdf
EPS: $1.20
Proforma Debt Maturities & Liquidity Summary – 12/31/12
(Reflecting Financing & Spartech Acquisition)
• Total Debt at 12/31/12
h
$1,010
$297
$360 $300
$400
Debt Maturities
As of December 31, 2012
($ millions)
Less: Cash
Net Debt
213
$797
$50
$297
$100
$200
• Available Liquidity
Cash $213
$800 Debt Maturities
As of December 31, 2012
P f f 2/13 Fi i
$50 $0
2015 2017 2020
Interest Rates: 7.500% 5.000% 7.375%
Cash
ABL Availability
Total Liquidity
$213
271
$484
$600
$400
$600
Proforma for 2/13 Financing
($ millions)
Total Liquidity
• Net Debt / EBITDA = 2.0x*
$484
$50
$360
$0
$200
• Net Debt / EBITDA = 2.35x**
$50$0
2015 2020 2023
Page 14
Interest Rates: 7.500% 7.375% 5.250%
*Assumes $65 million of synergies related to Spartech acquistion
**Assumes no synergies related to Spartech acquistion
Use of Cash
Share DividendsOrganic
G Acquisitions
• Repurchased 1 2
Repurchase
• Introduced a
Dividends
• Expanding our
Growth
T t th t d
Acquisitions
• Repurchased 1.2
million shares in
2012
• 20.0 million
shares are
il bl f
• Introduced a
quarterly dividend
in Q1 2011 and
increased in Q1
2012 (25%) and
Q1 2013 (20%)
• Expanding our
sales, marketing,
and technical
capabilities is top
priority
• Investing in
• Targets that expand our:
• Specialty offering
• End market presence
• Geographic footprint
available for
repurchase under
the current
authorization
Q1 2013 (20%)
• Objective of
maintaining and
growing
Investing in
operational and
LSS initiatives
(including synergy
capture)
• CAPEX
• Synergy opportunities
• Adjacent material solutions
Proforma Cash Balance = $213M
N t D bt / EBITDA* 2 0X
CAPEX
Net Debt / EBITDA* = 2.0X
*Adjusted EBITDA assumes synergies related to the Spartech acquisition are realized at close; preliminary synergies estimated at $65M and are expected to be achieved over a 3-year period
Page 15
Why Invest In PolyOne?
Platform operating income mix percentage 2005Y 2006Y 2007Y 2008Y 2009Y 2010Y 2011Y
Global Specialty Engineered Materials $ 0.4 $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9
Global Color, Additives and Inks 4.3 8.9 25.7 28.1 25.2 37.7 43.4
Specialty Platform $ 4.7 $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3
Performance Products and Solutions 75.7 64.2 65.8 31.3 33.1 54.0 62.4
Distribution 19.5 19.2 22.1 28.1 24.8 42.0 56.0
SunBelt Joint Venture 91.9 102.9 34.8 28.6 25.5 18.9 5.0
Corporate (51.5) 34.5 (73.3) (425.1) 7.9 (27.7) 20.3
Operating income (loss) GAAP $ 140.3 $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0
Less: Corporate operating expense (income) 51.5 (34.5) 73.3 425.1 (7.9) 27.7 (20.3)
Operating income excluding Corporate $ 191.8 $ 199.1 $ 153.3 $ 133.7 $ 129.2 $ 202.3 $ 212.7
Specialty platform operating mix percentage 2% 6% 20% 34% 35% 43% 42%
Platform operating income mix percentage 2012Y
Global Specialty Engineered Materials $ 47.0
Global Color, Additives and Inks 66.8
Specialty Platform $ 113.8
Performance Products and Solutions 74.9
Distribution 66.0
Corporate (87.6)
Operating income GAAP $ 167.1
Less: Corporate operating expense 87.6
Operating income excluding Corporate $ 254.7
Specialty platform operating mix percentage 45%
Platform sales and operating income (OI) 2006Y 2007Y 2008Y 2009Y 2010Y 2011Y
Global Specialty Engineered Materials Sales $ 345.3 $ 384.4 $ 514.0 $ 402.9 $ 517.4 $ 575.1
Global Color, Additives and Inks Sales 531.8 560.5 554.3 459.8 527.4 544.6
Specialty Platform Sales $ 877.1 $ 944.9 $ 1,068.3 $ 862.7 $ 1,044.8 $ 1,119.7
Performance Products and Solutions Sales 1,166.2 1,086.8 1,001.4 667.7 776.3 865.4
PolyOne Distribution Sales 732.8 744.3 796.7 625.1 911.9 996.5
Corporate and Eliminations (153.7) (133.3) (127.7) (94.8) (111.1) (118.1)
Total Sales $ 2,622.4 $ 2,642.7 $ 2,738.7 $ 2,060.7 $ 2,621.9 $ 2,863.5
Global Specialty Engineered Materials OI $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9
Global Color, Additives and Inks OI 8.9 25.7 28.1 25.2 37.7 43.4
Specialty Platform OI $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3
Performance Products and Solutions OI 64.2 65.8 31.3 33.1 54.0 62.4
PolyOne Distribution OI 19.2 22.1 28.1 24.8 42.0 56.0
Sunbelt Joint Venture OI 102.9 34.8 28.6 25.5 18.9 5.0
Corporate and eliminations (4.6) (25.5) (28.9) (40.8) (32.5) (26.4)
Special items in OI 39.1 (47.8) (396.2) 48.7 4.8 46.7
Operating income (loss) GAAP $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0
Sunbelt equity income (107.0) (40.8) (32.5) (29.7) (23.1) (5.7)
Special items in OI (39.1) 47.8 396.2 (48.7) (4.8) (46.7)
Operating income adjusted $ 87.5 $ 87.0 $ 72.3 $ 58.7 $ 146.7 $ 180.6
Global Specialty Engineered Materials - OI
% of sales 1.1% 1.3% 3.4% 5.1%
9.6%
8.0%
Global Color, Additives and Inks - OI % of
sales 1.7% 4.6% 5.1% 5.5%
7.1%
8.0%
Specialty platform OI - % of sales 1.5% 3.2% 4.3% 5.3% 8.4% 8.0%
PP&S operating OI - % of sales 5.5% 6.1% 3.1% 5.0% 7.0% 7.2%
Distribution OI - % of sales 2.6% 3.0% 3.5% 4.0% 4.6% 5.6%
PolyOne OI adjusted - % of sales 3.3% 3.3% 2.6% 2.8% 5.6% 6.3%
Platform sales and operating income (OI) 2012Y 2012PF
Global Specialty Engineered Materials Sales $ 543.6 $ 779.5
Global Color, Additives and Inks Sales 703.5 753.8
Designed Structures & Solutions 847.4
Specialty Platform Sales $ 1,247.1 $ 2,380.7
Performance Products and Solutions Sales 837.0 902.8
PolyOne Distribution Sales 1,030.3 1,030.3
Corporate and Eliminations (121.8) (121.8)
Total Sales $ 2,992.6 $ 4,192.0
Global Specialty Engineered Materials OI $ 47.0
Global Color, Additives and Inks OI 66.8
Specialty Platform OI $ 113.8
Performance Products and Solutions OI 74.9
PolyOne Distribution OI 66.0
Corporate and eliminations (33.7)
Special items in OI (53.9)
Operating income - GAAP $ 167.1
Special items in OI 53.9
Operating income adjusted $ 221.0
Global Specialty Engineered Materials - OI % of sales 8.6%
Global Color, Additives and Inks - OI % of sales 9.5%
Specialty platform OI % of sales 9.1%
PP&S operating OI % of sales 9.0%
Distribution OI % of sales 6.4%
PolyOne OI adjusted, % of sales 7.4%
Adjusted EPS 2006Y 2007Y 2008Y 2009Y 2010Y 2011Y 2012Y
Net Income attributable to PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 162.6 $ 172.6 $ 71.9
SunBelt equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) -
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 75.4 $ 96.1 $ 108.1
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.79 $ 1.02 $ 1.20
Average Debt Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Average
PolyOne Debt $ 707.0 $ 706.4 $ 705.8 $ 705.2 $ 706.9 $ 706.3
Average Equity Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Average
PolyOne shareholders’ equity $ 588.3 $ 611.3 $ 604.3 $ 629.3 $ 629.1 $ 612.5
Adjusted EBITDA 2012
PolyOne Income before income taxes $ 113.0
PolyOne Interest expense, net 50.8
PolyOne Depreciation and amortization 69.8
PolyOne Special items in EBITDA 55.1
PolyOne Adjusted EBITDA $ 288.7
Pro forma Spartech EBITDA * 56.3
Pro forma EBITDA * $ 345.0
* Amount excludes expected synergies.
Pro Forma Debt 2012
7.500% debentures due 2015 $ 50.0
7.375% senior notes due 2020 360.0
5.250% senior notes due 2023 600.0
Other debt 14.0
Pro Forma Debt $ 1,024
Specialty Platform Gross Margin Percentage 2006 2012
Global Specialty Engineered Materials Sales $ 345.3 $ 543.6
Global Color, Additives and Inks Sales 531.8 703.5
Specialty Platform Sales $ 877.1 $ 1,247.1
Global Specialty Engineered Materials Gross Margin $ 41.6 $ 129.8
Global Color, Additives and Inks Gross Margin 83.6 220.6
Specialty Platform Gross Margin $ 125.2 $ 350.4
Specialty Platform Gross Margin Percentage 14.3% 28.1%
https://www.avient.com/investor-center/news/avient-announces-commencement-725-million-senior-notes-offering
products include specialty engineered materials, advanced composites, color and additive systems and polymer distribution.
is also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants and fluoropolymer and silicone colorants.
https://www.avient.com/investor-center/news/avient-announces-pricing-725-million-7125-senior-notes-due-2030
products include specialty engineered materials, advanced composites, color and additive systems and polymer distribution.
is also a highly specialized developer and manufacturer of performance enhancing additives, liquid colorants and fluoropolymer and silicone colorants.
https://www.avient.com/sites/default/files/2024-05/CCG Application Snapshot_PTFE Wire Insulation.pdf
PTFE Wire insulation
WIRE & CABLE OEM
P T F E W I R E I N S U L A T I O N
• Avoid contamination risks resulting from dry pigments
• Powder paste extrusion process
• High quality dispersion
• Availability of custom color options
• Optimized pigment particle size and distribution to
achieve high-quality dispersion
• Provided a technology based on high-quality
pigments and ready-to-use formulations
• Offered a liquid pigment portfolio as standard in a
wide range of shades with color-matching
capabilities
• Improved the stability and efficiency of the
manufacturing process
Colorant Chromatics PTFE Dispersed
Pigment Solutions
KEY REQUIREMENTS
WHY AVIENT?
AVIENT SOLUTION
PROCESSING + COLORABILITY
Copyright © 2024, Avient Corporation.
LEARN MORE
https://www.avient.com/products/polymer-colorants/fluoropolymer-color-concentrates/colorant-chromatics-dispersed-pigments-ptfe#:%7E:text=Colorant%20Chromatics%E2%84%A2%20formulations%20use,PTFE%20tape%20and%20PTFE%20yarns.
https://www.avient.com/sites/default/files/2024-10/Stan Tone HC Plus Menstrual Cups Snapshot.pdf
SILICONE PRODUCT
MANUFACTURER
M E N S T R U A L C U P S
• Biocompatible silicone pigment dispersion that meets
healthcare industry material requirements
• Custom-colored silicone paste colorant dispersion for
liquid silicone rubber (LSR)
• Offered a USP Class VI certified,
biocompatible silicone colorant dispersion
with necessary regulatory support to meet
the stringent demands of healthcare
product manufacturing
• Provided color customization options
through personalized communication and
high-level technical support
Stan-Tone HC Plus Silicone Dispersions
for Healthcare
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/products/polymer-colorants/colorant-dispersions/stan-tone-hc-plus-silicone-dispersions-healthcare
Slide 1: Silicone product manufacturer
https://www.avient.com/sites/default/files/resources/Credit%2520Suisse%2520June%252026%25202013.pdf
EPS: $1.00
First Quarter Financial Highlights
• 14th consecutive quarter of double digit adjusted earnings per
share growth
• 29 percent increase in adjusted EPS
34 percent increase in Specialty operating income
Growth from all regions
Virtually all organic growth
• Strengthened our financial
position
Page 13
• Total Debt at 3/31/13
Less: Cash
Net Debt
• Available Liquidity
Cash
ABL Availability
Total Liquidity
• Net Debt / EBITDA = 2.7x*
$169
285
$454
$1,056
169
$887
$50
$360
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2013
($ millions)
Page 14
Coupon Rates: 7.500% 7.375% 5.250%
*Pro Forma TTM with no synergies related to Spartech acquisition & excludes resin assets
Debt Maturities & Liquidity Summary – 3/31/13
Cash Balance = $169M
Net Debt / EBITDA* = 2.7x
• Repurchased
840k shares in Q1
2013
• 19.1 million
shares are
available for
repurchase under
the current
authorization
Share
Repurchase
• Introduced a
quarterly dividend
in Q1 2011 and
increased in Q1
2012 (25%) and
Q1 2013 (20%)
• Objective of
maintaining and
growing
Dividends
• Expanding our
sales, marketing,
and technical
capabilities is top
priority
• Investing in
operational and
LSS initiatives
(including synergy
capture)
• CAPEX
Organic
Growth
• Targets that expand our:
• Specialty offering
• End market presence
• Geographic footprint
• Synergy opportunities
• Adjacent material solutions
Acquisitions
*TTM with no synergies related to the Spartech acquisition
Use of Cash
Page 15
Why Invest In PolyOne?
Specialty platform operating mix percentage
Platform sales and operating income (OI) 2006Y* 2007Y* 2008Y* 2009Y* 2010Y* 2011Y*
Global Specialty Engineered Materials
Sales $ 345.3 $ 384.4 $ 514.0 $ 402.9 $ 517.4 $ 575.1
Global Color, Additives and Inks Sales 531.8 560.5 554.3 459.8 527.4 544.6
Specialty Platform Sales $ 877.1 $ 944.9 $ 1,068.3 $ 862.7 $ 1,044.8 $ 1,119.7
Performance Products and Solutions Sales 1,166.2 1,086.8 1,001.4 667.7 776.3 865.4
PolyOne Distribution Sales 732.8 744.3 796.7 625.1 911.9 996.5
Corporate and Eliminations (153.7) (133.3) (127.7) (94.8) (111.1) (118.1)
Total Sales $ 2,622.4 $ 2,642.7 $ 2,738.7 $ 2,060.7 $ 2,621.9 $ 2,863.5
Global Specialty Engineered Materials OI $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9
Global Color, Additives and Inks OI 8.9 25.7 28.1 25.2 37.7 43.4
Specialty Platform OI $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3
Performance Products and Solutions OI 64.2 65.8 31.3 33.1 54.0 62.4
PolyOne Distribution OI 19.2 22.1 28.1 24.8 42.0 56.0
Sunbelt Joint Venture OI 102.9 34.8 28.6 25.5 18.9 5.0
Corporate and eliminations (4.6) (25.5) (28.9) (40.8) (32.5) (26.4)
Special items in OI 39.1 (47.8) (396.2) 48.7 4.8 46.7
Operating income (loss) GAAP $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0
Sunbelt equity income (107.0) (40.8) (32.5) (29.7) (23.1) (5.7)
Special items in OI (39.1) 47.8 396.2 (48.7) (4.8) (46.7)
Operating income adjusted $ 87.5 $ 87.0 $ 72.3 $ 58.7 $ 146.7 $ 180.6
Global Specialty Engineered Materials - OI
% of sales
1.1%
1.3%
3.4%
5.1%
9.6%
8.0%
Global Color, Additives and Inks - OI
% of sales 1.7% 4.6% 5.1% 5.5%
7.1%
8.0%
Specialty platform OI - % of sales 1.5% 3.2% 4.3% 5.3% 8.4% 8.0%
PP&S operating OI - % of sales 5.5% 6.1% 3.1% 5.0% 7.0% 7.2%
Distribution OI - % of sales 2.6% 3.0% 3.5% 4.0% 4.6% 5.6%
PolyOne OI adjusted - % of sales 3.3% 3.3% 2.6% 2.8% 5.6% 6.3%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes the Resin business assets.
Average Debt Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average
PolyOne Debt $ 706.4 $ 705.8 $ 705.2 $ 706.9 $ 1055.5 $ 776.0
Average Equity Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average
PolyOne shareholders’ equity $ 611.3 $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 669.2
Platform sales and operating income (OI) 2012Y* 2012PF** Q1 2013
Global Specialty Engineered Materials Sales $ 543.6 $ 773.0 $ 159.8
Global Color, Additives and Inks Sales 703.5 828.5 205.3
Designed Structures & Solutions -- 850.6 41.5
Specialty Platform Sales $ 1,247.1 2,452.1 406.6
Performance Products and Solutions Sales 837.0 696.1 159.7
PolyOne Distribution Sales 1,030.3 1,030.3 268.0
Corporate and Eliminations (121.8) (121.6) (33.2)
Total Sales $ 2,992.6 $ 4,056.9 $ 801.1
Global Specialty Engineered Materials OI $ 47.0 $ 47.7 $ 16.2
Global Color, Additives and Inks OI 66.8 81.6 24.1
Designed Structures & Solutions -- 20.9 1.9
Specialty Platform OI $ 113.8 $ 150.2 $ 42.2
Performance Products and Solutions OI 74.9 37.4 13.0
PolyOne Distribution OI 66.0 66.0 16.2
Corporate and eliminations (33.7) (40.0) (14.3)
Special items in OI (53.9) (53.9) (16.6)
Operating income - GAAP $ 167.1 $ 159.7 $ 40.5
Special items in OI 53.9 53.9 16.6
Operating income adjusted $ 221.0 $ 213.6 $ 57.1
Global Specialty Engineered Materials - OI % of
sales
8.6% 6.1% 10.1%
Global Color, Additives and Inks - OI % of sales 9.5% 9.8% 11.7%
Designed Structures & Solutions -- 2.5% 4.6%
Specialty platform OI % of sales 9.1% 6.1% 10.4%
PP&S operating OI % of sales 9.0% 5.4% 8.1%
Distribution OI % of sales 6.4% 6.4% 6.0%
PolyOne OI adjusted, % of sales 7.4% 5.3% 7.1%
PolyOne Investor Presentation�Credit Suisse Boston Basic Materials Conference ��June 26, 2013�
Forward – Looking Statements
Use of Non GAAP Measures
Strategy and Execution Drive Results – Since 2006:
Four Pillar Strategy
2013 Portfolio Transformation Highlights
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Proof of Performance & 2015 Goals
Innovation Drives Earnings Growth
We are Experts in Polymer Science and Formulation
Positioned for Strong Growth
First Quarter Financial Highlights
Debt Maturities & Liquidity Summary – 3/31/13
Use of Cash
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/dB%2520June%2520Presentation%2520June%252012%25202013%2520%25282%2529.pdf
EPS: $1.00
First Quarter Financial Highlights
• 14th consecutive quarter of double digit adjusted earnings per
share growth
• 29 percent increase in adjusted EPS
34 percent increase in Specialty operating income
Growth from all regions
Virtually all organic growth
• Strengthened our financial
position
Page 12
• Total Debt at 3/31/13
Less: Cash
Net Debt
• Available Liquidity
Cash
ABL Availability
Total Liquidity
• Net Debt / EBITDA = 2.7x*
$169
285
$454
$1,056
169
$887
$50
$360
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2013
($ millions)
Page 13
Coupon Rates: 7.500% 7.375% 5.250%
*Pro Forma TTM with no synergies related to Spartech acquisition & excludes resin assets
Debt Maturities & Liquidity Summary – 3/31/13
Cash Balance = $169M
Net Debt / EBITDA* = 2.7x
• Repurchased
840k shares in Q1
2013
• 19.1 million
shares are
available for
repurchase under
the current
authorization
Share
Repurchase
• Introduced a
quarterly dividend
in Q1 2011 and
increased in Q1
2012 (25%) and
Q1 2013 (20%)
• Objective of
maintaining and
growing
Dividends
• Expanding our
sales, marketing,
and technical
capabilities is top
priority
• Investing in
operational and
LSS initiatives
(including synergy
capture)
• CAPEX
Organic
Growth
• Targets that expand our:
• Specialty offering
• End market presence
• Geographic footprint
• Synergy opportunities
• Adjacent material solutions
Acquisitions
*TTM with no synergies related to the Spartech acquisition
Use of Cash
Page 14
Why Invest In PolyOne?
Specialty platform operating mix percentage
Platform sales and operating income (OI) 2006Y* 2007Y* 2008Y* 2009Y* 2010Y* 2011Y*
Global Specialty Engineered Materials
Sales $ 345.3 $ 384.4 $ 514.0 $ 402.9 $ 517.4 $ 575.1
Global Color, Additives and Inks Sales 531.8 560.5 554.3 459.8 527.4 544.6
Specialty Platform Sales $ 877.1 $ 944.9 $ 1,068.3 $ 862.7 $ 1,044.8 $ 1,119.7
Performance Products and Solutions Sales 1,166.2 1,086.8 1,001.4 667.7 776.3 865.4
PolyOne Distribution Sales 732.8 744.3 796.7 625.1 911.9 996.5
Corporate and Eliminations (153.7) (133.3) (127.7) (94.8) (111.1) (118.1)
Total Sales $ 2,622.4 $ 2,642.7 $ 2,738.7 $ 2,060.7 $ 2,621.9 $ 2,863.5
Global Specialty Engineered Materials OI $ 3.9 $ 4.9 $ 17.6 $ 20.6 $ 49.7 $ 45.9
Global Color, Additives and Inks OI 8.9 25.7 28.1 25.2 37.7 43.4
Specialty Platform OI $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 89.3
Performance Products and Solutions OI 64.2 65.8 31.3 33.1 54.0 62.4
PolyOne Distribution OI 19.2 22.1 28.1 24.8 42.0 56.0
Sunbelt Joint Venture OI 102.9 34.8 28.6 25.5 18.9 5.0
Corporate and eliminations (4.6) (25.5) (28.9) (40.8) (32.5) (26.4)
Special items in OI 39.1 (47.8) (396.2) 48.7 4.8 46.7
Operating income (loss) GAAP $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 233.0
Sunbelt equity income (107.0) (40.8) (32.5) (29.7) (23.1) (5.7)
Special items in OI (39.1) 47.8 396.2 (48.7) (4.8) (46.7)
Operating income adjusted $ 87.5 $ 87.0 $ 72.3 $ 58.7 $ 146.7 $ 180.6
Global Specialty Engineered Materials - OI
% of sales
1.1%
1.3%
3.4%
5.1%
9.6%
8.0%
Global Color, Additives and Inks - OI
% of sales 1.7% 4.6% 5.1% 5.5%
7.1%
8.0%
Specialty platform OI - % of sales 1.5% 3.2% 4.3% 5.3% 8.4% 8.0%
PP&S operating OI - % of sales 5.5% 6.1% 3.1% 5.0% 7.0% 7.2%
Distribution OI - % of sales 2.6% 3.0% 3.5% 4.0% 4.6% 5.6%
PolyOne OI adjusted - % of sales 3.3% 3.3% 2.6% 2.8% 5.6% 6.3%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
** Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes the Resin business assets.
Average Debt Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average
PolyOne Debt $ 706.4 $ 705.8 $ 705.2 $ 706.9 $ 1055.5 $ 776.0
Average Equity Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Average
PolyOne shareholders’ equity $ 611.3 $ 604.3 $ 629.3 $ 629.1 $ 871.8 $ 669.2
Platform sales and operating income (OI) 2012Y* 2012PF** Q1 2013
Global Specialty Engineered Materials Sales $ 543.6 $ 773.0 $ 159.8
Global Color, Additives and Inks Sales 703.5 828.5 205.3
Designed Structures & Solutions -- 850.6 41.5
Specialty Platform Sales $ 1,247.1 2,452.1 406.6
Performance Products and Solutions Sales 837.0 696.1 159.7
PolyOne Distribution Sales 1,030.3 1,030.3 268.0
Corporate and Eliminations (121.8) (121.6) (33.2)
Total Sales $ 2,992.6 $ 4,056.9 $ 801.1
Global Specialty Engineered Materials OI $ 47.0 $ 47.7 $ 16.2
Global Color, Additives and Inks OI 66.8 81.6 24.1
Designed Structures & Solutions -- 20.9 1.9
Specialty Platform OI $ 113.8 $ 150.2 $ 42.2
Performance Products and Solutions OI 74.9 37.4 13.0
PolyOne Distribution OI 66.0 66.0 16.2
Corporate and eliminations (33.7) (40.0) (14.3)
Special items in OI (53.9) (53.9) (16.6)
Operating income - GAAP $ 167.1 $ 159.7 $ 40.5
Special items in OI 53.9 53.9 16.6
Operating income adjusted $ 221.0 $ 213.6 $ 57.1
Global Specialty Engineered Materials - OI % of
sales
8.6% 6.1% 10.1%
Global Color, Additives and Inks - OI % of sales 9.5% 9.8% 11.7%
Designed Structures & Solutions -- 2.5% 4.6%
Specialty platform OI % of sales 9.1% 6.1% 10.4%
PP&S operating OI % of sales 9.0% 5.4% 8.1%
Distribution OI % of sales 6.4% 6.4% 6.0%
PolyOne OI adjusted, % of sales 7.4% 5.3% 7.1%
PolyOne Investor Presentation�Deutsche Bank 2013 Global Industrials and Basic Materials Conference ��June 12, 2013�
Forward – Looking Statements
Use of Non GAAP Measures
Strategy and Execution Drive Results
Four Pillar Strategy
2013 Portfolio Transformation Highlights
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Proof of Performance & 2015 Goals
Innovation Drives Earnings Growth
Positioned for Strong Growth
First Quarter Financial Highlights
Debt Maturities & Liquidity Summary – 3/31/13
Use of Cash
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2024-09/CCG Application Snapshot PTFE dispersed pigment tubing.pdf
PTFE Wire insulation
TUBING
MANUFACTURER
P T F E C A T H E T E R T U B I N G
• Food contact compliance
• Avoid contamination risks resulting from dry pigments
• Powder paste extrusion process
• High quality dispersion
• Availability of custom color options
• Supplied pigments with FDA clearance
• Optimized pigment particle size and distribution to
achieve high-quality dispersion
• Provided a technology based on high-quality
pigments and ready-to-use formulations
• Offered a standard liquid pigment portfolio in a
wide range of shades with color-matching
capabilities
• Improved manufacturing process stability and
efficiency
Colorant Chromatics PTFE Dispersed
Pigment Solutions
KEY REQUIREMENTS
WHY AVIENT?
AVIENT SOLUTION
PROCESSING + COLORABILITY
Copyright © 2024, Avient Corporation.
LEARN MORE
https://www.avient.com/products/polymer-colorants/fluoropolymer-color-concentrates/colorant-chromatics-dispersed-pigments-ptfe#:~:text=Colorant%20Chromatics%E2%84%A2%20formulations%20use,PTFE%20tape%20and%20PTFE%20yarns.
https://www.avient.com/sites/default/files/2023-10/31307-Certificate-20SEP2023.pdf
Wischodnia 6
Kutno 99-300
Poland
Activity: Design and Manufacture of Color and Additive Concentrates and
Activity: Design and Manufacture of Color and Additive Concentrates and
Facility: Avient Corporation - Berea, OH
680 N.
Rocky River Drive
Berea, OH 44017
Facility: Avient Corporation - Assesse, Belgium (CAI & SEM)
2 Rue Melville Wilson
Assesse 5330
Belgium
Activity: Liquid Colorants and Additives for Plastics Activity: "Design of color concentrates, precolors, and compounds for
fluoropolymer and high temperature polymers, LSFOH (low
smoke and fume, zero halogen compounds), and Specialty
Compounds
Manufacture of Color and Additive Concentrates and Specialty
Compounds"
Page 6 of 7
Facility: Avient Corporation - Aland (Odkarby), Finland
Kroklundsvagen 346
Ödkarby AX-22320
Finland
Facility: Avient Corporation - Bethel, CT
19 Francis J Clark Circle
Bethel, CT 06801
Activity: Manufacture of colorants and compounds for fluoropolymer and
high temperature polymers
Activity: Design and Manufacture of colorants and compounds for
fluoropolymer and high temperature polymers.
Ezcabarte calle H Nº3
Oricain, Navarra 31194
Facility: Avient Corporation - Tossiat, France
43 Place de la gare
Tossiat 01250
France
Activity: Design and Manufacture of Color and Additive Concentrates and
Activity: Design and Manufacture of Color and Additive Concentrates and
Page 7 of 7
Facility: Avient Corporation - Knowsley, United Kingdom
Unity Grove
Knowsley, Merseyside L349GT
United Kingdom
Facility: Avient Corporation - Alicante (Ibi - IQAP), Spain
Guadalajara 6, Poligono Industrial L'Alfalç
Ibi, Alicante 03440
Activity: Design and Manufacture of Liquid Colorants and Additives for
Plastics, Assembly and Supply of Material Dosing Equipment
Activity: Design, development and production of color concentrates and
additives for plastic and synthetic fibers
Facility: Avient Corporation - Vic (Barcelona), Spain
Carretera de Vic a Olot,C-153, km 5
Masies de Roda, Barcelona 08500
Activity: Design, development and production of color concentrates and
additives for plastic and synthetic fibers
Facility: Avient Corporation - Melle, Germany
Oldendorfer Straße 9
Thuringia 49342
Germany
Facility: Avient Corporation - Gaggenau, Germany
Adolf-Dambach-Str. 2
Gaggenau, Thuringia 76571
Germany
Activity: Development and Manufacture of LSFOH (low smoke and fume,
zero halogen) compounds
Activity: Design and Manufacture of Specialty Engineered Thermoplastics