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https://www.avient.com/sites/default/files/2022-07/Avient Announces Second Quarter 2022 Results_1.pdf
A recording of the webcast and the slide presentation will be available at avient.com/investors/events-presentations immediately following the conference call and will be accessible for one year. https://www.avient.com/sustainability https://www.avient.com/investors https://edge.media-server.com/mmc/p/r2x4n7pt https://www.avient.com/investors https://register.vevent.com/register/BIb9438661fe984c4f9a842829169d2868 http://www.avient.com/investors/events-presentations 3 About Avient Avient Corporation (NYSE: AVNT), with 2021 revenues of $4.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.
The non-GAAP financial measures include: adjusted EPS and free cash flow.
Three Months Ended June 30, 2022 2021 GAAP Results Special Items Adjusted Results GAAP Results Special Items Adjusted Results Income from before income taxes $114.7 $ 3.4 $ 118.1 $ 89.8 $ 14.2 $ 104.0 Income tax expense - GAAP (30.0) — (30.0) (20.4) — (20.4) Income tax impact of special items (Attachment 3) — (0.8) (0.8) — (3.4) (3.4) Tax adjustments (Attachment 3) — 2.5 2.5 — 0.9 0.9 Income tax (expense) benefit $ (30.0) $ 1.7 $ (28.3) $ (20.4) $ (2.5) $ (22.9) Effective Tax Rate(1) 26.1 % 23.9 % 22.7 % 22.0 % (1) Rates may not recalculate from figures presented herein due to rounding 13 Six Months Ended June 30, 2022 2021 GAAP Results Special Items Adjusted Results GAAP Results Special Items Adjusted Results Income from before income taxes $225.8 $ 11.1 $ 236.9 $192.4 $ 16.6 $ 209.0 Income tax expense - GAAP (56.6) — (56.6) (43.3) — (43.3) Income tax impact of special items (Attachment 3) — (2.8) (2.8) — (4.3) (4.3) Tax adjustments (Attachment 3) — 4.0 4.0 — 2.0 2.0 Income tax (expense) benefit $ (56.6) $ 1.2 $ (55.4) $ (43.3) $ (2.3) $ (45.6) Effective Tax Rate(1) 25.0 % 23.4 % 22.5 % 21.8 % (1) Rates may not recalculate from figures presented herein due to rounding Reconciliation of EBITDA by Segment Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating income: Color, Additives and Inks $ 93.6 $ 86.3 $ 188.1 $ 175.1 Specialty Engineered Materials 36.6 37.3 76.3 71.5 Distribution 27.1 23.7 51.3 47.7 Corporate and eliminations (27.8) (39.2) (57.6) (65.8) Operating income $ 129.5 $ 108.1 $ 258.1 $ 228.5 Items below OI in Corporate: Other income, net $ 1.4 $ 1.2 $ 0.8 $ 2.7 Depreciation & amortization: Color, Additives and Inks $ 25.9 $ 25.3 $ 51.9 $ 52.6 Specialty Engineered Materials 7.7 8.1 15.5 15.9 Distribution 0.2 0.2 0.4 0.4 Corporate and eliminations 2.7 0.2 6.5 2.0 Depreciation & Amortization $ 36.5 $ 33.8 $ 74.3 $ 70.9 EBITDA: Color, Additives and Inks $ 119.5 $ 111.6 $ 240.0 $ 227.7 Specialty Engineered Materials 44.3 45.4 91.8 87.4 Distribution 27.3 23.9 51.7 48.1 Corporate and eliminations (25.1) (39.0) (51.1) (63.8) Other income, net 1.4 1.2 $ 0.8 $ 2.7 EBITDA $ 167.4 $ 143.1 $ 333.2 $ 302.1 14 Three Months Ended June 30, Six Months Ended June 30, Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2022 2021 Net income – GAAP $ 84.7 $ 69.4 $ 169.2 $ 149.1 Income tax expense 30.0 20.4 56.6 43.3 Interest expense 16.2 19.5 33.1 38.8 Depreciation and amortization 36.5 33.8 74.3 70.9 EBITDA $ 167.4 $ 143.1 $ 333.2 $ 302.1 Special items, before tax 3.4 14.2 11.1 16.6 Depreciation and amortization included in special items (1.1) 1.4 (3.2) 0.8 Adjusted EBITDA $ 169.7 $ 158.7 $ 341.1 $ 319.5 Three Months Ended June 30, 2021 Reconciliation to Condensed Consolidated Statements of $ EPS Net income attributable to Avient shareholders $ 68.8 $ 0.74 Special items, after tax (Attachment 3) 11.7 0.13 Adjusted net income / EPS - excluding special items 80.5 0.87 FX adjustment (4.9) (0.05) Adjusted net income / EPS - excluding special items, adjusted for FX $ 75.6 $ 0.82 NEWS RELEASE Attachment 1
https://www.avient.com/sites/default/files/2024-10/ISO9001证书 %28英文版%29 -2024.pdf
MSC Certificate Place and date: For the issuing office: Shanghai, 12 June 2024 DNV - Business Assurance Building 9, No. 1591 Hongqiao Road, Changning DistrictShanghai China 200336 Zhu Hai Ming Management Representative Lack of fulfilment of conditions as set out in the Certification Agreement may render this Certificate invalid.
ACCREDITED UNIT: DNV Business Assurance B.V., Zwolseweg 1, 2994 LB, Barendrecht, Netherlands - TEL: +31(0)102922689. www.dnv.com/assurance MANAGEMENT SYSTEM CERTIFICATE Certificate no.: 462307-2021-AQ-RGC-RvA Initial certification date: 23 June 2021 Valid: 24 June 2024 – 23 June 2027 This is to certify that the management system of Avient China Company Limited No. 188, Quanzhou Road, Zhongxin Suchu High-Tech Industrial Development Park, Chuzhou, Anhui, China has been found to conform to the Quality Management System standard: GB/T 19001-2016 / ISO 9001:2015 This certificate is valid for the following scope: Design and Manufacture of Color Concentrates, Filling Concentrates and Additive Concentrates http://www.dnv.com/assurance
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
The non-GAAP financial measures include: adjusted EPS, adjusted operating income, free cash flow and adjusted EBITDA.
D is t. ) K W R R P M P P G A V Y F U L G C P IF F H X L F M C F O E H U N E C L K R A E M N A S H C E S C L G R A A LB Median: 5%Median: 3% Source: Peer data per Bloomberg market data as of April 27, 2021 Avient reflects 2021 estimated revenue of $4,300M and excludes one-time synergy capture CAPEX ($20M) Avient Specialty Formulators Other Chemical/Specialty Companies Free Cash Flow Conversion (1) 2021E (%) Being asset light helps us to generate strong free cash flow that is in line with specialty formulators.
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. 19 1.
https://www.avient.com/sites/default/files/2021-02/avient-ir-presentation-goldman-sachs-and-morgan-stanley.pdf
The non-GAAP financial measures include: adjusted EPS, adjusted operating income, free cash flow and adjusted EBITDA.
Free cash flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity.
Free Cash Flow Calculation Year Ended December 31, 2020 Cash provided (used) by operating activities $ 221.6 Capital expenditures (63.7) Free Cash Flow 157.9 Payment of post-acquisition date earnout liability 38.1 Taxes paid on gain on divestiture 142.0 Adjusted Free Cash Flow $ 338.0 Year Ended December 31, 2019 Free Cash Flow Calculation Total Discontinued Operations Continuing Operations Cash provided by operating activities $ 300.8 $ 74.4 $ 226.4 Capital expenditures 81.7 14.1 67.6 Free Cash Flow $ 219.1 $ 60.3 $ 158.8 6 Avient IR Presentation - Goldman Sachs and Morgan Stanley.pdf Avient IR Presentation - Goldman Sachs and Morgan Stanley - Website.pdf Avient Q4 Earnings and 2021 Outlook.pdf Avient Q4 Earnings and 2021 Outlook.pdf Avient Q4 Earnings and 2021 Outlook.pdf Avient Q4 Earnings and 2021 Outlook.pdf Avient Q4 Earnings and 2021 Outlook.pdf 2.5.21 IR Deck Attachments clean
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One Web Site, Infinite Possibilities - Video
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This video explores how the new Avient.com can help users explore new ideas and find just the right solution.
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Thermochromic Thermoplastic Elastomers - Video
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Thermochromic Thermoplastic Elastomers - Video
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