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https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Factors that could cause
actual results to differ materially from those implied by these forward-looking statements include
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; our ability to achieve the strategic and other objectives relating to the
acquisition of Clariant's Color business, including any expected synergies; 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; an inability to achieve the anticipated
financial benefit from initiatives related to acquisition and integration working capital reductions,
cost reductions and employee productivity goals; our ability to pay regular quarterly cash
dividends and the amounts and timing of any future dividends; information systems failures and
cyberattacks; our ability to consummate and successfully integrate acquisitions; and 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.
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to Consolidated Statements of Income 2021 2020 2021 2020
Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 2,245.1
Gross margin - GAAP 255.4 210.2 846.5 531.4
Special items in gross margin (Attachment 3) 17.3 27.6 27.7 23.6
Adjusted gross margin $ 272.7 $ 237.8 $ 874.2 $ 555.0
Adjusted gross margin as a percent of sales 22.4 % 25.7 % 24.2 % 24.7 %
Operating income - GAAP 78.7 33.5 307.2 124.3
Special items in operating income (Attachment 3) 20.0 40.4 36.6 59.1
Adjusted operating income $ 98.7 $ 73.9 $ 343.8 $ 183.4
Adjusted operating income as a percent of sales 8.1 % 8.0 % 9.5 % 8.2 %
The table below reconciles pre-special income tax expense and the pre-special effective tax rate to their most comparable US
GAAP figures.
Three Months Ended September 30,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
$ 61.1 $ 19.9 $ 81.0 $ 5.3 $ 50.0 $ 55.3
Income tax expense - GAAP (8.5) — (8.5) (2.7) — (2.7)
Income tax impact of special items (Attachment 3) — (4.6) (4.6) — (12.7) (12.7)
Tax adjustments (Attachment 3) — (3.6) (3.6) — 3.0 3.0
Income tax (expense) benefit $ (8.5) $ (8.2) $ (16.7) $ (2.7) $ (9.7) $ (12.4)
Effective Tax Rate(1) 14.1 % 20.8 % 51.9 % 22.7 %
(1) Rates may not recalculate from figures presented herein due to rounding
14
Nine Months Ended September 30,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
$ 253.5 $ 36.5 $ 290.0 $ 81.6 $ 62.0 $ 143.6
Income tax expense - GAAP (51.8) — (51.8) (22.5) — (22.5)
Income tax impact of special items (Attachment 3) — (8.9) (8.9) — (15.4) (15.4)
Tax adjustments (Attachment 3) — (1.6) (1.6) — 4.9 4.9
Income tax (expense) benefit $ (51.8) $ (10.5) $ (62.3) $ (22.5) $ (10.5) $ (33.0)
Effective Tax Rate(1) 20.5 % 21.5 % 27.6 % 23.0 %
(1) Rates may not recalculate from figures presented herein due to rounding
The following pro forma adjustments are referenced by management to provide comparable business performance by
incorporating the Clariant Masterbatch business in periods prior to the acquisition date (July 1, 2020).
https://www.avient.com/sites/default/files/2021-07/avnt-q2-2021-earnings-release.pdf
Factors
that could cause actual results to differ materially from those implied by these forward-looking
statements include 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; our ability to achieve the strategic
and other objectives relating to the acquisition of Clariant's Masterbatch business, including any
expected synergies; 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; an inability to achieve the anticipated financial benefit from initiatives
related to acquisition and integration working capital reductions, cost reductions and employee
productivity goals; our ability to pay regular quarterly cash dividends and the amounts and
timing of any future dividends; information systems failures and cyberattacks; our ability to
consummate and successfully integrate acquisitions; and 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.
Three Months Ended
June 30,
Six Months Ended
June 30,
Reconciliation to Consolidated Statements of Income 2021 2020 2021 2020
Sales $ 1,235.2 $ 609.1 $ 2,397.5 $ 1,320.6
Gross margin - GAAP 288.7 149.7 591.1 321.2
Special items in gross margin (Attachment 3) 12.6 (4.2) 10.4 (4.0)
Adjusted gross margin $ 301.3 $ 145.5 $ 601.5 $ 317.2
Adjusted gross margin as a percent of sales 24.4 % 23.9 % 25.1 % 24.0 %
Operating income - GAAP 108.1 38.0 228.5 90.8
Special items in operating income (Attachment 3) 14.2 9.0 16.6 18.7
Adjusted operating income $ 122.3 $ 47.0 $ 245.1 $ 109.5
Adjusted operating income as a percent of sales 9.9 % 7.7 % 10.2 % 8.3 %
The table below reconciles pre-special income tax expense and the pre-special effective tax rate to their most comparable US
GAAP figures.
Three Months Ended June 30,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
$ 89.8 $ 14.2 $ 104.0 $ 31.3 $ 2.4 $ 33.7
Income tax expense - GAAP (20.4) — (20.4) (7.9) — (7.9)
Income tax impact of special items (Attachment 3) — (3.4) (3.4) — (0.7) (0.7)
Tax adjustments (Attachment 3) — 0.9 0.9 — 0.9 0.9
Income tax (expense) benefit $ (20.4) $ (2.5) $ (22.9) $ (7.9) $ 0.2 $ (7.7)
Effective Tax Rate(1) 22.7 % 22.0 % 25.1 % 22.5 %
(1) Rates may not recalculate from figures presented herein due to rounding
13
Six Months Ended June 30,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
$ 192.4 $ 16.6 $ 209.0 $ 76.3 $ 12.0 $ 88.3
Income tax expense - GAAP (43.3) — (43.3) (19.8) — (19.8)
Income tax impact of special items (Attachment 3) — (4.3) (4.3) — (2.7) (2.7)
Tax adjustments (Attachment 3) — 2.0 2.0 — 1.9 1.9
Income tax (expense) benefit $ (43.3) $ (2.3) $ (45.6) $ (19.8) $ (0.8) $ (20.6)
Effective Tax Rate(1) 22.5 % 21.8 % 25.9 % 23.3 %
(1) Rates may not recalculate from figures presented herein due to rounding
The following pro forma adjustments are referenced by management to provide comparable business performance by
incorporating the Clariant Masterbatch business in periods prior to the acquisition date (July 1, 2020).
https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
Factors that could cause
actual results to differ materially from those implied by these forward-looking statements include
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; and 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.
Three Months Ended
December 31,
Year Ended
December 31,
Reconciliation to Consolidated Statements of Income 2021 2020 2021 2020
Sales $ 1,201.5 $ 997.0 $ 4,818.8 $ 3,242.1
Gross margin - GAAP 253.1 252.9 1,099.6 784.3
Special items in gross margin (Attachment 3) 5.9 1.7 33.6 25.3
Adjusted Gross margin $ 259.0 $ 254.6 $ 1,133.2 $ 809.6
Adjusted Gross margin as a percent of sales 21.6 % 25.5 % 23.5 % 25.0 %
Operating income - GAAP 74.0 65.0 381.2 189.3
Special items in operating income (Attachment 3) 11.2 14.6 47.8 73.7
Adjusted Operating income $ 85.2 $ 79.6 $ 429.0 $ 263.0
Adjusted Operating income as a percent of sales 7.1 % 8.0 % 8.9 % 8.1 %
The table below reconciles pre-special income tax expense and the pre-special effective tax rate to their most comparable US
GAAP figures.
Three Months Ended
December 31,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from continuing operations before income taxes $ 51.1 $ 20.6 $ 71.7 $ 57.4 $ 4.2 $ 61.6
Income tax (expense) benefit - GAAP (22.2) — (22.2) 17.3 — 17.3
Income tax impact of special items (Attachment 3) — (4.1) (4.1) — 1.3 1.3
Tax adjustments (Attachment 3) — 7.5 7.5 — (32.2) (32.2)
Income tax (expense) benefit $ (22.2) $ 3.4 $ (18.8) $ 17.3 $ (30.9) $ (13.6)
Effective Tax Rate(1) 43.4 % 26.0 % (30.1) % 22.1 %
(1) Rates may not recalculate from figures presented herein due to rounding
14
Year Ended
December 31,
2021 2020
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from continuing operations before income taxes $304.6 $ 57.1 $ 361.7 $ 139.0 $ 66.2 $ 205.2
Income tax expense - GAAP (74.0) — (74.0) (5.2) — (5.2)
Income tax impact of special items (Attachment 3) — (13.0) (13.0) — (14.1) (14.1)
Tax adjustments (Attachment 3) — 5.9 5.9 — (27.3) (27.3)
Income tax expense $ (74.0) $ (7.1) $ (81.1) $ (5.2) $ (41.4) $ (46.6)
Effective Tax Rate(1) 24.3 % 22.4 % 3.7 % 22.7 %
(1) Rates may not recalculate from figures presented herein due to rounding
The following pro forma adjustments are referenced by management to provide comparable business performance by
incorporating the Clariant Color business in periods prior to the acquisition date (July 1, 2020).
https://www.avient.com/sites/default/files/2024-08/Stat-Tech-Vacuum cleaner handle -case study snapshot_0826.pdf
GLOBAL SMALL
APPLIANCE BRAND
V A C U U M C L E A N E R H A N D L E
• Comply with flame retardant ratings of UL 94 V-0 at 0.8mm and
GWIT 775oC / GWFI 850oC
• Pass ball pressure at 75oC
• Deliver stable static resistivity of E9-11
• Matched color to a specified black103
• Pass tests for battery runaway, drop at 1m, static load, and
fatigue life
• Provided a custom formulation with a good
balance of performance and aesthetics
• Guided the molder on how to properly
measure the surface resistance of the part
and the fixture specifications
• Had excellent service with fast turnaround of
samples and strong ADTS support to ensure
smooth processability
Stat-Tech Static Dissipative & Electrically
Conductive Formulations
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2022-03/Trilliant HC Conductive Pipette Tips Application Snapshot.pdf
L E A D I N G B I OT E C H
M A N U FAC T U R E R
C O N D U C T I V E P I P E T T E T I P S
• Accuracy of liquid measurements
• Hydrophobic properties to minimize fluid retention
• Concentric dimensional stability and warp resistance
• High flow properties for multi-cavity molds
• Offered consistent electrical conductivity to
achieve repeatable part performance and
minimize failures from inconsistent
conductivity
• Provided high flow grade with easy
processing to improve efficiency and cost
effectiveness
• Achieved high stiffness and warp
resistance, minimizing the rejection rate
Trilliant™ HC Conductive Formulation
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2020-07/case-study-one-pager-therma-tech-automotive-led-heat-sink_0.pdf
© 2019, All Right Reserved
Avient Corporation, 33587 Walker Road, Avon Lake, Ohio USA 44012
T R A N S P O RTAT I O N
L I G H T I N G S U P P L I E R
H E A T S I N K F O R H I G H P O W E R
L E D
• A material to replace aluminum
• High thermal conductivity - 20 W/mK
• Electrically conductive
• Increase production rate by 50%, as
three secondary operations were
eliminated
• Reduced the weight of each part by 30%
• Collaborated with the customer to
participate in the SPE Automotive
Innovation Awards
Therma-Tech™ TT6600-5001 EC Grey
KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2023-07/Nymax REC - Battery Frame - Case Study Snapshot.pdf
BOS
B A T T E R Y S F R A M E
• Recycled materials where possible
• Non-halogen flame retardant performance to V0 rating
• BOS company color RAL9004 (on visible parts)
• Thermal performance for some parts
• High strength at low thickness for load-bearing parts
• Provided multiple polymer solutions for the battery frame
including recycled nylon, thermoplastic elastomers and
thermally conductive formulations
• Utilized recycled nylon with up to 35% glass fiber content
to provide high strength for load-bearing parts at a low
thickness to minimize weight
• Enabled customer to launch a new innovative battery
system with a modular design for use in multiple
applications – maximizing the working life of the battery
Nymax™ REC Recycled Nylon Formulations and
Therma-Tech™ Thermally Conductive Formulations
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2023-03/Surround - Respiratory Product Case - Application Snapshot.pdf
I N D U S T R I A L S A F E T Y
O E M
B A T T E R Y P A C K H O U S I N G
• Static dissipation with dependable performance to protect
users from electrical shock
• Chemical resistance to withstand industrial cleaning
protocols
• Colorable material to differentiate models
• Achieve target shrink rates
• Injection moldable for high-volume production
• Provided a custom concentrate material for
flexibility in tailoring static dissipation performance
• Offered on-site technical support to ensure proper
blending and consistent end-application
performance
• Secured a long-term consistency in specialty raw
material supply
Surround™ Long Stainless Steel Fiber
Reinforced Polycarbonate
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2022-09/Omnicolor Case Study Cable Reel.pdf
P O W E R & L I G H T I N G
M A N U FA C T U R E R / M O L D E R
S M A L L C A B L E R E E L
• Meet color requirement of medium-tone gray for
polypropylene (PP) cable reel application
• Low cost color development
• Short lead time to fit production schedule
• Offered readily available standard color (Mid
Grey – OC7UFF) to meet customer request
• Provided low usage rate of 1% LDR to keep
costs down
• Shipped colorant sample within one day of
inquiry
• Allowed sample parts to be molded within
three days to accommodate schedule
Omnicolor™ Multipurpose Colorants
KEY REQUIREMENTS
WHY AVIENT?