https://www.avient.com/company/sustainability/sustainability-report/products/markets/renewable-energy-case-study
Cesa™ Additive Masterbatches are utilized for solar back sheets to enhance the halogen-free mono material structure and protect against voltage breakdowns
https://www.avient.com/investor-center/news/polyone-announces-third-quarter-2016-results
In millions, except per share data)
In millions, except per share data)
Condensed Consolidated Balance Sheets
https://www.avient.com/investor-center/news/avient-announces-fourth-quarter-and-full-year-2022-results
In millions, except per share data)
In millions, except per share data)
Condensed Consolidated Balance Sheets (Unaudited)
https://www.avient.com/investor-center/news/polyone-announces-record-fourth-quarter-and-full-year-2015-results
In millions, except per share data)
In millions, except per share data)
Condensed Consolidated Balance Sheets
https://www.avient.com/investor-center/news/avient-announces-first-quarter-2025-results
In millions, except per share data)
In millions, except per share data)
Condensed Consolidated Balance Sheets
https://www.avient.com/investor-center/news/polyone-announces-third-quarter-2019-results
The divestment of PP&S is expected to close soon, which will reduce our exposure to more cyclical end markets and strengthen our balance sheet.
PolyOne Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
PolyOne Corporation
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202018.pdf
Leverage
PolyOne’s
global reach
Phase 1 Phase 2
Phase 3
18-20%
operating
margins
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 98
Commercial
Operating
Income
Operating
243
335
$36
$90
Established Acquisitions
(> 7 years)
+ 40% + 150% + 900 bps
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 99
Commercial
Operating
Income (millions)
53
109
187
214
3
12
$12
$45
$22
$42
$2
Acquisition #1
(10 years)
Acquisition #3
(7 years)
Acquisition #2
(9 years)
EBITDA
Multiple
10.5x
3.0x
11.1x
7.6x
4.9x
2.8x
23%
17%
21%
Return on Sales
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 100
Commercial
Operating
Income
Operating
44
65
$0 $0
0% 0%
Advanced Composites
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 101
Commercial
Operating
Income
Operating
96
141
$16
$18
$36
11% 12%
18-20%
Recent Color Acquisitions
PolyOne Corporation 102
Average
Company Size
# of
Possibilities
Rationale
250
• Local to regional footprint
• Niche technology focus
• Concentrated customer base
$50M–$200M 150
• Regional to global footprint
• 1–3 specialty technologies
• Diversified customer base
>$200M 30
• Global footprint with local service
• Diverse specialty technologies
• Highly diversified customer & market
portfolio
S T R O N G P I P E L I N E
D R I V E N B Y F R A G M E N T E D M A R K E T
S U M M A R Y
PolyOne Corporation 103
Proven track record with specialty acquisitions using
invest-to-grow strategy
Our approach to integration differentiates PolyOne in
a competitive M&A market
Trusted brand and reputation
Buyer of choice
Robust pipeline with a range of opportunities that fit
our strategy
FINANCIAL
REVIEW
B R A D R I C H A R D S O N
PolyOne Corporation 104
PolyOne Corporation 105
A D J U S T E D E P S E X P A N S I O N
2009 2010 2011 2012 2013 2014 2015 2016* 2017*
C O N S E C U T I V E
Y E A R S
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
*Pro Forma for sale of DSS
PolyOne Corporation 106
S T R A T E G I C C A S H D E P L O Y M E N T
ORGANIC GROWTH
Investing in R&D and
capacity
11
Maintenance
40%
Strategic Growth
Investments
60%
Capital Expenditures
M&A OPPORTUNITIES
Continued pursuit of strategic bolt
on acquisitions that expand
specialty offerings
2
SHAREHOLDER RETURN
Dividends and share buybacks3
Over $400
million
M&A Spending
Since 2014
$809
million
Share Repurchases
2011-Q1 2018
60%
Increase in annual
dividend over next three
years
2011 2013 2015 2017
“Where we were” “Where we are”
ROIC 5.0% 14.0%
Operating Income % of Sales
Color, Additives & Inks 1.7% 15.5%
Specialty Engineered Materials 1.1% 12.1%
Performance Products &
Solutions 4.3% 10.7%
Distribution 2.6% 6.3%
P R O O F O F P E R F O R M A N C E
E X P A N D I N G M A R G I N S & R O I C
PolyOne Corporation 107
I N V E S T M E N T I N COMMERCIAL RESOURCES D R I V I N G R E S U L T S
PolyOne Corporation 108
Largest organic revenue growth
since recession
$2.9 $2.9
$3.2
2015 2016 2017
Revenue in billions of $
Total + 10%
Organic + 7%
S U S T A I N A B L E P A T H T O D O U B L E - D I G I T E P S G R O W T H
PolyOne Corporation 109
Double digit
annual EPS
growth
Expand specialty portfolio
with strategic acquisitions
Innovate and develop new
technologies and services
Repurchase 600K-1M
shares annually
Increase commercial
resources 6-8% annually
Double acquired
company margins
Enhance efficiencies
through Lean Six Sigma
and commercial excellence
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 110
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 111
$570
$1,650 $1,750
$2,000
ROIC
Invested Capital
Improving ROIC + Expanding Invested Capital = Outperforming the Market
CONCLUSION
B O B P A T T E R S O N
PolyOne Corporation 112
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS)
from continuing operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results.
https://www.avient.com/news/avient-launches-t-v-rheinland-certified-carbon-calculator-scope-3-emission-goals
While many companies can measure and manage scope 1 and 2 emissions, the intricacies of obtaining specific scope 3 emissions data for raw materials can pose a challenge for those with net zero or carbon reduction targets.
Avient’s PCF Calculator marks a significant breakthrough by a specialty materials solution provider, offering cradle-to-gate emissions data to customers specific to the materials that can contribute to their upstream scope 3 emissions.
https://www.avient.com/knowledge-base/article/let-s-get-circular?rtype[]=1164
It has already started producing useful data and we will use this to continue to develop new and unique masterbatch solutions with proven science behind how they perform during recycling processes, offering customers a portfolio certified by the laboratory.
We expect to introduce more products throughout 2021 as new data is generated.
https://www.avient.com/knowledge-base/article/let-s-get-circular?ind[]=6599
It has already started producing useful data and we will use this to continue to develop new and unique masterbatch solutions with proven science behind how they perform during recycling processes, offering customers a portfolio certified by the laboratory.
We expect to introduce more products throughout 2021 as new data is generated.