https://www.avient.com/idea/3-ways-thermoplastic-elastomers-can-help-you-hit-right-notes-portable-speakers
What are the top three ways that thermoplastic elastomers (TPEs) can help you reach this goal?
https://www.avient.com/idea/using-tpes-white-or-light-colored-phone-cases
Phone case brands would be thrilled to offer consumers what they’ve wanted for quite some time in phone case design: white and light-colored cases that stay looking new longer.
https://www.avient.com/products/thermoplastic-elastomers/tpe-knowledge-center
Learn what they are, how they perform, and why to choose bio-based or recycled content
https://www.avient.com/industries/energy
More
What’s The Difference?
https://www.avient.com/idea/achieve-sensory-branding-goals-packaging
What’s the connection between sensory branding and packaging?
https://www.avient.com/products/long-fiber-technology
What is LFT
https://www.avient.com/sites/default/files/2020-10/auto-injector-application-study.pdf
What services and innovative
polymer solutions could you
leverage to solve challenges in
your next generation designs?
Our services go beyond what our customers need.
https://www.avient.com/industries/healthcare/catheter-materials-medical-tubing/medical-tubing
Find out which materials make sense for your products, no matter where they’re used
Find out how and where these game changing materials are being used in healthcare applications
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202012%2520-%2520Operational%2520Excellence.pdf
Kedrowski
Page 38
Operational Excellence
• Operational Excellence is a never-ending quest
for improvement in response to the voice of our
customers and shareholders
• It is all about strengthening our capabilities to
deliver value flawlessly to our customers deliver value flawlessly to our customers
• It challenges us to enhance our
productivity, profitability, and efficiency
in all phases of our business, from
safety to quality to waste elimination
to environmental stewardship
Page 39
Lean Six Sigma Initiative
• In 2009, Lean Six Sigma was launched to
improve execution skills across all
businesses, functions, and global regions
• A company-wide diagnostic was
conducted, resulting in identification of six conducted, resulting in identification of six
strategic improvement platforms
• Financial targets were estimated,
resources identified and trained
results delivered
,
Page 40
PolyOne OSHA Recordable Incidence Rate
4
5
6
5.1
Safety Performance
*Rubber And Plastics Manufacturing Industry (2010 Bureau of Labor Statistics).
0
1
2
3
2005 2006 2007 2008 2009 2010 2011 Industry
Average
1.4 1.3
1.1 1.1 0.85 0.65
0.57
Page 41
• Exemplary on-time delivery
• Best-in-class working capital
% of sales
81%
87%
88%
95%
93%
92%
94%
2005 2006 2007 2008 2009 2010 2011
On-Time Delivery*
Lean Six Sigma Delivering Results
• Approximately $200M in
cash driven by working
capital improvements
16.2%
14.4%
18.9%
11.7%
9.6% 9.6%
2006 2007 2008 2009 2010 2011
WC % of Sales
2005 2006 2007 2008 2009 2010 2011
*As measured to customer request date
Page 42
40.0%
Percent of Associates
Trained in LSS
World’s Best Start-up
Program in 2009*
World’s Best Business Process
Excellence Program in 2012*
Award-Winning Lean Six Sigma Program
*Both awards received from International Quality and Productivity Center
16.5%
40.0%
2009 2011
Page 43
• Globally leverage strategic supplier
management best practices
• Implement world class demand
management processes
Critical Imperatives
• Improve operational reliability and efficiencies
• Optimize global freight management
Drive 50 – 100 basis points of gross margin expansion per year
Page 44
Page 45
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Press Release.pdf
Each of such adjustments has not yet occurred, are out of the company's control
and/or cannot be reasonably predicted.
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to Consolidated Statements of Income 2023 2022 2023 2022
Sales $ 753.7 $ 823.3 $ 2,423.8 $ 2,606.5
Gross margin - GAAP 195.3 195.4 683.6 710.7
Special items in gross margin (Attachment 3) 40.2 31.8 62.4 35.6
Adjusted gross margin $ 235.5 $ 227.2 $ 746.0 $ 746.3
Adjusted gross margin as a percent of sales 31.2 % 27.7 % 30.8 % 28.6 %
Operating income - GAAP 34.3 40.6 153.7 242.9
Special items in operating income (Attachment 3) 41.0 40.2 89.9 48.8
Adjusted operating income $ 75.3 $ 80.8 $ 243.6 $ 291.7
Adjusted operating income as a percent of sales 10.0 % 9.8 % 10.1 % 11.2 %
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 2023 2022
Net income from continuing operations – GAAP $ 5.1 $ (27.8) $ 48.7 $ 99.7
Income tax (benefit) expense (0.1) (1.2) 18.0 41.5
Interest expense, net 30.3 37.3 88.5 70.4
Depreciation and amortization 46.4 39.8 144.5 113.7
EBITDA from continuing operations $ 81.7 $ 48.1 $ 299.7 $ 325.3
Special items, before tax 43.2 82.0 92.2 89.6
Interest expense included in special items (2.2) (10.0) (2.2) (10.0)
Depreciation and amortization included in special items — (0.8) (1.9) (4.0)
Adjusted EBITDA $ 122.7 $ 119.3 $ 387.8 $ 400.9
Adjusted EBITDA as a % of sales 16.3 % 14.5 % 16.0 % 15.4 %
NEWS RELEASE
Attachment 1