https://www.avient.com/sites/default/files/2021-09/avnt-q2-2021-earnings-presentation.pdf
Deliver cumulative annual revenue
growth from sustainable solutions
portfolio of 8-12%
Assess top 90% of supplier spend for alignment
with Avient Sustainability objectives.
D
is
t.
)
LB
Median: 5%Median: 3%
Avient reflects 2021 estimated revenue of $4,650M and excludes one-time synergy capture CAPEX ($20M)
Avient Specialty
Other
Free Cash Flow Conversion (1)
2021E (%)
Being asset light helps us to generate
strong free cash flow that is in line
with specialty formulators.
With the Clariant Masterbatch
acquisition and divestment of the
PP&S business, our exposure is now
concentrated in less-cyclical and
high-growth markets, with increased
geographic diversification and a more
specialized portfolio that can
significantly expand EBITDA margins.
25
Avient reflects 2021 estimated EBITDA of $580M
OUR VALUATION VERSUS PEERS
Avient Specialty
Other
9.5
18.5
15.1 15.1
14.0
11.0 10.4
29.5
28.2
23.9
18.7
12.4 12.2
11.1
9.3 9.2 9.2
7.6 7.6
6.0
en
t
Median: 11.1xMedian: 14.6x
SUMMARY: WHY INVEST IN AVIENT?
https://www.avient.com/sites/default/files/2023-12/_ECCOH LSFOH 5983 Formulations Product Bulletin.pdf
Temperature fluctuations
in the environment where the cable is installed
can mean the armoring and the other cable
materials expand and contract at different ratios,
further increasing the risk of cracking in the
cable jacket.
MARKETS AND APPLICATIONS
• Cable jackets for low and medium-voltage
power cables with metal armoring, typically
installed underground or where installation
requires them to be bent
• Armored cable applications that require
compliance with LTS1 requirements as per
the BS 7655-6.1 standard
IMPACT
• High environmental stress cracking resistance
• High tear strength and elongation at break at
temperatures ranging from -25°C to 90°C
• Flame retardant performance
• Limiting oxygen index (LOI) of 36%
• Exceeds BS 7655-6.1:1997 standard criteria
for LTS1–LTS4 for complex designs and
armored cables
PRODUCT BULLETIN
Cable jacket
liable to
cracking
Power Cable
Cross Section
Metal
armoring
1.844.4AVIENT
www.avient.com
Copyright © 2023, Avient Corporation.
Avient makes no warranties or
guarantees respecting suitability of either Avient’s products or the information for your process or end-use application.
https://www.avient.com/industries/transportation/automotive/automotive-and-industrial-radars
Available in black and sand colors, with different properties such as high impact strength and flame retardancy.
Stable and well controlled dielectric constants from 2.6 - 23 GHz.
https://www.avient.com/sites/default/files/2020-03/PolyOne_Website-12.19.pdf
The
non-GAAP financial measures include: adjusted EPS, pro forma adjusted EPS, adjusted operating income, adjusted EBITDA, return on
invested capital (ROIC) and free cash flow.
Free cash flow is defined as cash flow from operating activities less capital expenditures.
ROIC is defined as trailing twelve month
adjusted operating income from continuing operations after tax divided by the sum of average debt and equity less cash over a five
quarter period.
https://www.avient.com/sites/default/files/2023-03/AVNT Mar 2023 Earnings Presentation.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those
expressed in or implied by the forward-looking statements.
Avient does not provide reconciliations of forward-looking non-GAAP financial measures, such as outlook for Adjusted EBITDA, Adjusted Earnings Per Share and Free Cash Flow, to the most comparable GAAP financial measures on a forward-looking
basis because Avient is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort.
GUIDANCE
DEBT / LEVERAGE REDUCTION
• Completed sale of Distribution
and paid down $750M of debt
in November
• Strong free cash flow in fourth
quarter reduced leverage and
enabled paydown of additional
$200M of debt
• Fixed/Floating Debt Ratio 63/37
• Proven track record of
deleveraging following
acquisitions through consistent
free cash flow generation
$725 $725 $725
$575 $500 $400
$600
$525
$425
$650
$650
$650
$600
$2.40B
$2.20B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
After Distribution
Divestiture
Year-End
8
Year-End
Leverage 3.8x 3.1x 2.9x
2023 Notes
After Avient
Protective Materials
Acquisition
$3.15B
2022 TRANSFORMATIONAL PORTFOLIO
ENHANCEMENTS
9
EBITDA margins expanded
from 12% to 16%
Diversified end markets
with reduced exposure to
more cyclical industries
Dyneema®
Acquisition
$1.48B acquisition
strengthens composites
platform
Significantly improved
EBITDA margins $950M divestiture results
in 100% specialty sales
Strong exit multiple of 10x
TTM EBITDA despite
market volatility
Distribution
Divestiture
Improved
Portfolio
GROWING COMPOSITES PLATFORM
CONTRIBUTIONS TO SEM SEGMENT
10
Note: 2022 is pro forma for Avient Protective Materials
2016 Sales 2022 Sales
Advanced
Composites
51%
$560M $1,300M
Advanced
Composites
COMPOSITES PORTFOLIO
D Y N E E M A ® E X P A N D S O U R E N G I N E E R E D F I B E R S A N D T A P E S T E C H N O L O G Y
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
11
ADVANCED COMPOSITES PERFORMANCE
12 (1) Pro forma for the acquisition of Avient Protective Materials
$51
$84
$212
$668
$4
$10
$41
$169
(1) (1)
PORTFOLIO EVOLUTION AND EPS EXPANSION
13
Adj.
https://www.avient.com/sites/default/files/2021-11/avnt-november-investor-meetings.pdf
From technology
portfolios to end markets to geographies and distribution channels, this acquisition made perfect sense.
Deliver cumulative annual revenue
growth from sustainable solutions
portfolio of 8-12%
Assess top 90% of supplier spend for alignment
with Avient Sustainability objectives.
With the Clariant Color business
acquisition and divestment of the
PP&S business, our exposure is now
concentrated in less-cyclical and
high-growth markets, with increased
geographic diversification and a more
specialized portfolio that can
significantly expand EBITDA margins.
33
Avient reflects 2021 estimated EBITDA of $580M
OUR VALUATION VERSUS PEERS
Avient Specialty
Other
11.4
20.2
16.7 16.5
14.7
12.0
10.8
40.7
29.9
26.2
13.2 12.4
11.0 10.9
9.1 9.0
7.5 6.5
en
t
SUMMARY: WHY INVEST IN AVIENT?
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Seaport%2520Global%2520Transports%2520%2526%2520Industrials%2520Confer....pdf
They are based on management’s expectations that involve a
number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by
the forward-looking statements.
Non-GAAP financial
measures have limitations as analytical tools and should not be considered in isolation from, or solely as alternatives to, financial measures prepared in accordance with GAAP.
Tax adjustments include the net tax expense/benefit from one-time income tax items, the set-up or reversal of uncertain tax position reserves and deferred income tax valuation allowance
adjustments.
https://www.avient.com/sites/default/files/2022-02/Bergamid - Hair Clippers - Application Snapshot.pdf
E L E C T R I C H A I R C L I P P E R S
HAIRSTYLING APPLIANCE
MANUFACTURER
• Regulatory – UL rated flame retardancy
• High stiffness and impact resistance
• Excellent surface appearance
• Colorability/color matching – specific black color
• Provided color matching expertise to match
glass fiber reinforced formulation to specific
customer requirement
• Enabled customer to diversify into a new
market with a new design of hair clipper for
consumers
• Developed material quickly - three months
from brief to production
Bergamid™ A700 glass reinforced flame
retardant formulation
KEY REQUIREMENTS
WHY AVIENT?
AVIENT SOLUTION
REGULATORY + COLORABILITY
LEARN MORE
Copyright © 2022, Avient Corporation.
https://www.avient.com/products/engineered-polymer-formulations/flame-retardant-formulations/bergamid-fr-non-halogen-flame-retardant-formulations
Hairstyling appliance manufacturer
https://www.avient.com/ink-chemistries-tips
Ensure mixing area is clean and free from ink.
Store Epic inks separately from other ink chemistries.
Ensure machine and pallets are free of ink and lint.
https://www.avient.com/industries/healthcare/drug-delivery-systems/pump-technologies
Additive technologies to protect pump surfaces from scratches, mars, UV light, or unwanted static
Medical-grade colorants to enhance aesthetic appeal or add special effects
Learn more about our full portfolio of healthcare polymer solutions