https://www.avient.com/services/colorforward-color-trend-forecasting-tool
ColorForward is developed annually by a group of color, material, finish (CMF) specialists with industry and marketing experts from around the world.
Sync design with manufacturability: Learn about how Avient Design can help simplify your new product development process
https://www.avient.com/news/polyone-showcases-industry-leading-solutions-wire-2016
The company offers manufacturers a full range of polymer and colorant solutions for virtually any wire or cable application, and supports customers globally with technical, development, and testing services at its Innovation Centers worldwide.
PolyOne has developed formulations based on materials from PVC and polyolefins to the highest temperature fluoropolymers.
https://www.avient.com/products/polymer-additives/processing-enhancement-additives/colorant-chromatics-pvdf-processing-aids
Product + Service Overview Long Fiber Technologies Application Development
Avient long fiber technologies application development center bulletin highlighting services including design support, material validation, simulation support, and in-house prototyping.
https://www.avient.com/sites/default/files/AVNT Q1 2023 Earnings Press Release.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; changes in laws and regulations regarding plastics in jurisdictions where we conduct business; fluctuations in raw material prices, quality and supply, and in energy prices and supply; production outages or material costs associated with scheduled or unscheduled maintenance programs; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; our ability to achieve strategic objectives and successfully integrate acquisitions, including Avient Protective Materials; an inability to raise or sustain prices for products or services; our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends; information systems failures and cyberattacks; amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions; and other factors affecting our business beyond our control, including without limitation, changes in the general economy, changes in interest rates, changes in the rate of inflation and any recessionary conditions.
Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 20.8 $ 0.23 $ 64.4 $ 0.70 Special items, after tax (Attachment 3) 22.3 0.24 6.4 0.07 Amortization expense, after-tax 15.1 0.16 10.8 0.12 Adjusted net income / EPS $ 58.2 $ 0.63 $ 81.6 $ 0.89 8 Attachment 2 Avient Corporation Condensed Consolidated Statements of Income (Unaudited) (In millions, except per share data) Three Months Ended March 31, 2023 2022 Sales $ 845.7 $ 892.2 Cost of sales 598.1 637.8 Gross margin 247.6 254.4 Selling and administrative expense 190.5 152.2 Operating income 57.1 102.2 Interest expense, net (28.8) (16.9) Other income (expense), net 0.7 (0.6) Income from continuing operations before income taxes 29.0 84.7 Income tax expense (7.7) (20.0) Net income from continuing operations 21.3 64.7 (Loss) income from discontinued operations, net of income taxes (0.9) 19.8 Net income 20.4 84.5 Net income attributable to noncontrolling interests (0.5) (0.3) Net income attributable to Avient common shareholders $ 19.9 $ 84.2 Earnings (loss) per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.23 $ 0.70 Discontinued operations (0.01) 0.22 Total $ 0.22 $ 0.92 Earnings (loss) per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.23 $ 0.70 Discontinued operations (0.01) 0.21 Total $ 0.22 $ 0.91 Cash dividends declared per share of common stock $ 0.2475 $ 0.2375 Weighted-average shares used to compute earnings per common share: Basic 91.0 91.5 Diluted 91.8 92.3 9 Attachment 3 Avient Corporation Summary of Special Items (Unaudited) (In millions, except per share data) Special items (1) Three Months Ended March 31, 2023 2022 Cost of sales: Restructuring costs, including accelerated depreciation $ (6.6) $ (4.4) Environmental remediation costs (1.4) (2.0) Reimbursement of previously incurred environmental costs — 0.6 Impact on cost of sales (8.0) (5.8) Selling and administrative expense: Restructuring, legal and other (15.7) 1.9 Acquisition related costs (3.4) (2.9) Impact on selling and administrative expense (19.1) (1.0) Impact on operating income (27.1) (6.8) Other income (loss), net (0.2) 0.1 Impact on income from continuing operations before income taxes (27.3) (6.7) Income tax expense (benefit) on above special items 6.9 1.8 Tax adjustments(2) (1.9) (1.5) Impact of special items on net income from continuing operations $ (22.3) $ (6.4) Diluted earnings per common share impact $ (0.24) $ (0.07) Weighted average shares used to compute adjusted earnings per share: Diluted 91.8 92.3 (1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to- market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results. (2) Tax adjustments include the net tax impact from non-recurring income tax items, adjustments to uncertain tax position reserves and changes to valuation allowances. 10 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (In millions) (Unaudited) March 31, 2023 December 31, 2022 ASSETS Current assets: Cash and cash equivalents $ 582.7 $ 641.1 Accounts receivable, net 484.4 440.6 Inventories, net 371.9 372.7 Other current assets 125.3 115.3 Total current assets 1,564.3 1,569.7 Property, net 1,045.7 1,049.2 Goodwill 1,689.7 1,671.9 Intangible assets, net 1,601.7 1,597.6 Other non-current assets 209.8 196.6 Total assets $ 6,111.2 $ 6,085.0 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term debt $ 2.2 $ 2.2 Accounts payable 448.1 454.4 Accrued expenses and other current liabilities 386.9 412.8 Total current liabilities 837.2 869.4 Non-current liabilities: Long-term debt 2,177.7 2,176.7 Pension and other post-retirement benefits 66.2 67.2 Deferred income taxes 332.5 342.5 Other non-current liabilities 329.0 276.4 Total non-current liabilities 2,905.4 2,862.8 SHAREHOLDERS' EQUITY Avient shareholders’ equity 2,349.8 2,334.5 Noncontrolling interest 18.8 18.3 Total equity 2,368.6 2,352.8 Total liabilities and equity $ 6,111.2 $ 6,085.0 11 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Three Months Ended March 31, 2023 2022 Operating Activities Net income $ 20.4 $ 84.5 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 48.7 35.7 Accelerated depreciation 1.8 2.1 Share-based compensation expense 3.2 3.2 Changes in assets and liabilities, net of the effect of acquisitions: Increase in accounts receivable (40.2) (118.8) Decrease (increase) in inventories 3.8 (15.1) (Decrease) increase in accounts payable (9.9) 90.5 Accrued expenses and other assets and liabilities, net (50.0) (63.2) Net cash (used) provided by operating activities (22.2) 18.9 Investing activities Capital expenditures (20.3) (13.3) Net proceeds from divestiture 7.3 — Net cash used by investing activities (13.0) (13.3) Financing activities Purchase of common shares for treasury — (15.8) Cash dividends paid (22.5) (21.7) Repayment of long-term debt (0.8) (2.4) Other financing (2.3) (3.9) Net cash used by financing activities (25.6) (43.8) Effect of exchange rate changes on cash 2.4 (0.4) Decrease in cash and cash equivalents (58.4) (38.6) Cash and cash equivalents at beginning of year 641.1 601.2 Cash and cash equivalents at end of period $ 582.7 $ 562.6 12 Attachment 6 Avient Corporation Business Segment Operations (Unaudited) (In millions) Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: • The time required to consummate the acquisition of the Dyneema business, the satisfaction or waiver of conditions in the purchase agreement, the ability to obtain required regulatory or other third-party approvals and consents and otherwise consummate the proposed acquisition of the Dyneema business; • Our ability to achieve the strategic and other objectives relating to the proposed acquisition of the Dyneema business and possible sale of the Distribution business; • Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; • The effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; • The current and potential future impact of the COVID-19 pandemic on our business, results of operations, financial position or cash flows, including without any limitation, any supply chain and logistics issues; • Changes in polymer consumption growth rates and laws and regulations regarding plastics in jurisdictions where we conduct business; • Fluctuations in raw material prices, quality and supply, and in energy prices and supply; • Production outages or material costs associated with scheduled or unscheduled maintenance programs; • Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; • Our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends; • Information systems failures and cyberattacks; • Amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions; and • Other factors described in our Annual Report on Form 10-K for the year ended December 31, 2021 under Item 1A, “Risk Factors.”
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) SPECIALTY TRANSFORMATION 7% 46% 66% 86% 100% 0% 20% 40% 60% 80% 100% 2005 2010 2015 2021 2022 PF % o f A dj us te d EB IT D A(1 ) JVs Distribution Performance Products & Solutions Specialty (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) 38 CULTURE AND PEOPLE 39 OUR SPECIALTY JOURNEY CONTINUES 40 • Dyneema® brings leading technology and brand with the World’s Strongest Fiber™, deep history of application development and strong management team focused on specialty applications • Dyneema® transaction is aligned with our previously stated acquisition goal of expanding our composites and fiber capabilities • Similar to our other technology expansion acquisitions, Dyneema® allows us to leverage our invest-to-grow strategy • We plan to explore a possible sale of our Distribution business.
Our free cash flow supports shareholder value creation through investing in R&D for organic growth, completing bolt-on acquisitions, and returning cash to shareholders via our dividend program and opportunistic share repurchases. 44 1.
https://www.avient.com/knowledge-base/article/thermoplastic-elastomer-tpe-faqs?rtype[]=1164
The results of advancements in polymerization catalyst technology, these materials were originally developed to improve flexible packaging film characteristics.
The National Sanitation Foundation is known for the development of standards, product testing and certification services in the areas of public health safety and protection of the environment.
NSF certification programs are accredited by the American National Standards Institute (ANSI/RAB), The Dutch Council for Accreditation (RvA) and the Standards Council of Canada (SCC).
https://www.avient.com/knowledge-base/article/thermoplastic-elastomer-tpe-faqs
The results of advancements in polymerization catalyst technology, these materials were originally developed to improve flexible packaging film characteristics.
The National Sanitation Foundation is known for the development of standards, product testing and certification services in the areas of public health safety and protection of the environment.
NSF certification programs are accredited by the American National Standards Institute (ANSI/RAB), The Dutch Council for Accreditation (RvA) and the Standards Council of Canada (SCC).
https://www.avient.com/products/polymer-colorants/high-temperature-color-concentrates
We excel in developing targeted high-temperature colorant and additive packages you need to ensure your products perform as expected.
Our experience includes developing color concentrates for PEEK, PEI, PES, PSU, and PPSU resins.
Kevlar® Distribution Program
https://www.avient.com/products/thermoplastic-elastomers/versaflex-thermoplastic-elastomers
Unfilled TPEs developed to deliver optical clarity for a wide variety of applications from pet toys to cap liners
Unfilled, translucent TPE series developed for wide range of applications and offering good colorability
Versaflex™ PF formulations are specially developed for the manufacture of co-extruded surface protective films
https://www.avient.com/products/long-fiber-technology/complet-pke-formulations
Discover FEA capabilities and the benefits for new product development.
Long Fiber Technologies Application Development
Avient long fiber technologies application development center bulletin highlighting services including design support, material validation, simulation support, and in-house prototyping