https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Presentation.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
In addition, operating income before the effect of special items is a component of Avient’s annual and long-term employee incentive plans and is used in debt covenant computations.
Reconciliation of Pro Forma Net Debt December 31, 2022 Short-term and current portion of long term debt $ 2.2 Total long-term debt, net 2,176.7 Unamortized discount and debt issuance cost 37.4 Total debt $ 2,216.3 Cash (641.1) Net taxes due from sale of business 105.0 Adjusted cash $ (536.1) Net debt $ 1,680.2 Year Ended December 31, Reconciliation to EBITDA and Adjusted EBITDA 2006 2018 Sales $ 2,622.4 $ 3,533.4 Net income from continuing operations – GAAP $ 133.5 $ 160.8 Income tax expense 29.7 36.4 Interest expense 63.1 62.8 Depreciation and amortization 57.1 91.5 EBITDA $ 283.4 $ 351.5 Special items, before income tax (34.0) 59.5 Depreciation and amortization included in special items — (3.0) JV - equity income (107.0) — Adjusted EBITDA $ 142.4 $ 408.0 EBITDA as a % of sales 5.4 % 11.5 % 2 Reconciliation of Adjusted EPS 2006 2018 Net income from continuing operations attributable to Avient common shareholders $ 130.9 $ 161.1 Joint venture equity earnings, after tax (68.5) — Special items, after tax (21.2) 44.6 Special items, tax adjustments (30.0) (10.4) Amortization expense, after tax 1.4 19.5 Adjusted net income from continuing operations attributable to Avient common shareholders $ 12.6 $ 214.8 Diluted shares 92.8 80.4 Adjusted EPS attributable to Avient common shareholders $ 0.14 $ 2.67 Three Months Ended Year Ended Year Ended Reconciliation of Pro Forma Adjusted Earnings per Share December 31, 2022 December 31, 2021 Net (loss) income from continuing operations attributable to Avient shareholders $ (17.0) $ 82.8 $ 151.8 Special items, after tax 38.3 116.2 50.0 Amortization expense, after-tax 14.6 49.0 44.9 Adjusted net income from continuing operations excluding special items 35.9 248.0 246.7 Pro forma adjustments* 2.5 13.6 9.9 APM pro forma amortization expense, after tax* — 19.1 21.2 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 38.4 $ 280.7 $ 277.8 Weighted average diluted shares 91.7 92.2 92.1 Pro forma adjusted EPS - excluding special items pro forma for APM acquisition $ 0.42 $ 3.04 $ 3.02 * 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.
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
They use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
In addition, operating income before the effect of special items is a component of Avient annual and long-term employee incentive plans and is used in debt covenant computations.
Reconciliation of Pro Forma Net Debt December 31, 2022 Short-term and current portion of long term debt $ 2.2 Total long-term debt, net 2,176.7 Unamortized discount and debt issuance cost 37.4 Total debt $ 2,216.3 Cash (641.1) Net taxes due from sale of business 105.0 Adjusted cash $ (536.1) Net debt $ 1,680.2 16 Free Cash Flow Calculation December 31, 2022 Cash provided by operating activities 398.4 Capital expenditures (105.5) Free cash flow $ 292.9 Reconciliation to EBITDA and Adjusted EBITDA Year Ended December 31, 2022 Net (loss) income from continuing operations – GAAP $ 83.1 Income tax (benefit) expense (19.3) Interest expense 119.8 Depreciation and amortization from continuing operations 162.5 EBITDA $ 346.1 Special items, before income tax 194.0 Interest expense included in special items (26.0) Depreciation and amortization included in special items (5.5) APM pro forma adjustments - 8 months 2022* 83.1 Adjusted EBITDA $ 591.7 * Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
https://www.avient.com/sites/default/files/2021-11/avient-s.a-r.l.-belgium-branch-extract-cbe-0700822426-26-november-2021.pdf
These terms refer to concepts specific to Belgian law.
Document issued in accordance with Article III.34, §1 of the Code of Economic Law The legal terms were translated literally.
These terms refer to concepts specific to Belgian law.
https://www.avient.com/sites/default/files/2023-12/ISO 9001 Bangkok cert.pdf
This document is issued by the Company subject to SGS General Conditions of certification services available on Terms and Conditions | SGS.
Certified since 03 November 2000 Jonathan Hall Global Head - Certification Services Authorised by SGS United Kingdom Ltd Rossmore Business Park, Ellesmere Port, Cheshire, CH65 3EN, UK t +44 (0)151 350-6666 - www.sgs.com https://www.sgs.com/en/terms-and-conditions/
https://www.avient.com/sites/default/files/2024-09/Maxxam FR Polyolefin Formulations - Product Overview.pdf
Enhanced short term heat resistance, allowing resistance to higher temperatures.
Enhanced short term heat resistance, allowing to withstand higher temperatures.
Enhanced short term heat resistance, allowing resistance to higher temperatures.
https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement %28Filed%29.pdf
Long-Term Incentive.
The SARs have an exercise term of ten years.
Patterson’s outstanding long-term incentive awards will continue to vest in accordance with their terms in connection with his continued employment as Special Advisor.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
Morgan • New Senior Secured Term Loan B and new Senior Unsecured Notes • Potential proceeds from sale of Distribution business modeled to pay off 5.25% senior notes due 2023 and Term Loan • Acquisition aligned with Avient’s track record of disciplined capital allocation policy • Existing dividend policy maintained, focus on deleveraging in the near term (1) (1) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution, including repayment of senior notes due 2023 and Term Loan Cash and Cash Equivalents 595$ Senior Secured Term Loan due 2026 605$ New Senior Secured Term Loan B 500 Total Senior Secured Debt 1,105$ Senior Unsecured Notes due 2025 650$ New Senior Unsecured Notes 740 Total Senior Unsecured Debt 1,390$ Total Debt 2,495$ Net Debt 1,900$ 2022 Pro forma Adjusted EBITDA 660$ Net Debt / Adjusted EBITDA 2.9x Pro Forma Capitalization (2022 estimates, all figures in $M) TWO-YEAR LEVERAGE GOAL 33 3.5x 2.7x 1.7x 2.9x 2.5x 2.2x 2019PF 2020PF 2022E 2022PF 2023E 2024E Dyneema® AcquisitionClariant Color Acquisition (1) Pro forma for the acquisition of the Clariant Color business (2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution, including repayment of senior notes due 2023 and Term Loan (1) (1) (2) 34 PRO FORMA MODELING 2022E Pro Forma Pro Forma ($M) w/ Dyneema w/Sale Revenue 5,100$ 415$ 5,515$ (1,775)$ 3,740$ Adjusted EBITDA 635 130 765 (105) 660 EBITDA % 12% 31% 14% 6% 18% Pro Forma EPS (Adjusted) 3.50$ 0.00$ 3.50$ (0.56)$ 2.94$ Pro Forma EPS (excl. amortization) 3.96$ 0.35$ 4.31$ (0.56)$ 3.75$ Leverage (12/31/2022E) Net Debt / Adjusted EBITDA 1.7x 3.5x 2.9x Avient Dyneema Distribution® ® OUR SPECIALTY JOURNEY ACQUISITION HISTORY 36 Commercial Resources(1) Operating Income ($ in millions) Operating Margins 259 360 At Acquisition 2021 $40 $122 At Acquisition 2021 9% 21% At Acquisition 2021 Established Acquisitions (> 7 years) + 39% + 210% + 1200 bps (1) Commercial Resources include associate headcount in R&D / Technical, Marketing and Sales CLARIANT COLOR ACQUISITION 37 $133 $205 2019PF 2021 37 Clariant Color EBITDA Growth Purchase Price Multiple 10.8x 7.0x 6.1x 2019PF 2021 2021 w/ Full Synergies • Acquisition of Clariant Color business significantly expanded presence in healthcare, packaging and consumer end markets • Strength of portfolio – double-digit annual EBITDA growth since acquisition • $54 million of synergies realized in 2021 • Acquisition completed on July 1, 2020 for $1.45 billion.
In addition, operating income before the effect of special items is a component of Avient’s annual and long-term employee incentive plans and is used in debt covenant computations.
https://www.avient.com/sites/default/files/2020-09/hiviz-recoil-pad-case-study.pdf
After long-term range testing*, the recoil pad continued to reduce recoil and extend durability.
To retain integrity and high-end feel, the HIVIZ recoil pad performs under long-term range testing. • Superior durability = a long-lasting product that withstands both the elements and rigorous use.
https://www.avient.com/sites/default/files/2025-07/ColorMatrix Amosorb Oxyloop-1 Product Bulletin.pdf
ColorMatrix™ Amosorb™ Oxyloop-1 O2 Scavenging Additive to Enhance Recycling Part of the ColorMatrix™ Amosorb™ range, ColorMatrix Amosorb Oxyloop-1 is a recycling enhancer oxygen scavenging additive formulated to achieve leading results in terms of bottle-to-bottle recyclability.
Amosorb 4020Eco is intended for low-to-medium term shelf life applications, and is well suited, but not limited to, packaging for juices, oxygen-sensitive vitamin drinks, ready-to-drink teas, and more.
https://www.avient.com/sites/default/files/2023-11/AVNT November IR Presentation.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
Continue fostering our Great Place to Work® culture Strategic Objectives Long Term Growth Rates Growth Drivers $340 $455 $790 $1,120 2016 2018 2020 2023E $51 $84 $212 $650 2016 2018 2020 2023E $108 $113 $231 $230 2016 2018 2020 2023E $265 $358 $726 $730 2016 2018 2020 2023E 8-12% 8-10% 8-10% 5% Sustainable Solutions Composites Healthcare Asia/Emerging Regions Profitable Growth Great Place to Work 5.4% 10.9% 16.0% 2006 2014 2023E EBITDA Margins $0.14 $1.93 $2.30 2006 2014 2023E Adjusted EPS TOP-TIER SUSTAINABILITY PERFORMANCE AND RECOGNITION Industry Sustainability Standards ESG Ratings Performance 1 3 5 5 87th 94th percentile Innovation is the lifeblood of a specialty company.
PRIOR YEAR $790 $710 2022 2023 $107 $112 2022 2023 Sales Adjusted EBITDA (in millions) $0.42 $0.47 2022 PF 2023 Adjusted EPS (in millions) - 10% + 5% + 12% Sales Adjusted EBITDA Adjusted EPS 16 $112 $500 Q4 FY $0.47 $2.30 Q4 FY Q4 AND FULL YEAR 2023 GUIDANCE $710 $3,130 Q4 FY Sales Adjusted EBITDA Adjusted EPS 17 (in millions) (in millions) Guidance: Free Cash Flow $180 $180 Prior Guidance Guidance FREE CASH FLOW & INCREASED DIVIDEND 13th Consecutive Dividend Increase 0.16 0.26 0.42 0.58 0.79 0.85 0.99 1.03 2011 2013 2015 2017 2019 2021 2023 2024 18 S U S TAI NABI L I T Y DAY RE CAP SUSTAINABILITY AS A GROWTH DRIVERLONG-TERM REVENUE GROWTH DRIVERS 60%+ Key Growth Drivers Sustainable Solutions Composites, Healthcare, Asia / LATAM Overlap Other (GDP Growth) Total Company Revenue Growth Drivers Long-Term Growth Rate Sustainable Solutions 8–12% Composites 8–10% Healthcare 8–10% Asia / LATAM 5% Other (GDP growth) 0–2% Avient 6% 20 SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH 8-12% Long Term Growth 50 90 2022 2030 Medical Plastics Market Size (in $Billions) 2020 2030 Recycled Plastics Virgin Plastics Growing Demand for Recycled Content Avient Sustainable Solutions 18 46 2023 2032 Global Offshore Annual Wind Installations (in Gigawatts) Sources: McKinsey, Bloomberg, Grand View Research SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH 21 • Transformative acquisitions combined with divestitures of more cyclical businesses have improved margins over 400 bps since 2018 • 20% long-term margin goal to be driven by key growth drivers, with sustainable solutions playing a meaningful role 5.4% 11.5% 16.0% 2006 2018 2023E Recovery Growth Drivers Strategic Objective 20%+ +1%+ +3%+ ADJUSTED EBITDA MARGIN EXPANSION 22 • 6% annualized long-term sales growth leveraging sustainable solutions, composites, healthcare, and emerging regions • Expand EBITDA margins to 20% • Deliver annual EBITDA and EPS growth of 10% and 15% • Maintain asset-light, 80% free cash flow conversion profile and be valued as a specialty formulator • Continue fostering our Great Place to Work® culture CREATING A WORLD-CLASS SUSTAINABLE ORGANIZATION 23 PEER COMPARISONS AVIENT IS ASSET LIGHT Capex / Revenue 2023E (%) Avient Specialty Formulators Other Specialty / Chemical Companies Source: Peer data per Bloomberg as of October 27, 2023 Note: Avient reflects 2023 estimated revenue of $3,130 and estimated run-rate CAPEX of $110M. 26 3.5 1.8 2.7 3.0 3.4 3.7 2.8 3.7 4.6 5.0 6.9 7.0 8.6 11.1 Av ie nt KW R FU L PP G AV Y R PM FM C H U N C E EC L AS H H XL EM N SC L FREE CASH FLOW CONVERSION Source: Peer data per Bloomberg as of October 27, 2023 Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.