https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
Purchase price multiple rapidly declining on strength of
business and synergy capture
7
$133
$201
2019PF 2022E
7
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.4x
2019PF 2021 2022E w/ Full
Synergies
11.9%
16.3%
2019PF 2022E
EBITDA Margins
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
(1) Financial information is pro forma to include a full year of Clariant Color business
SUNBELT PVC Resins DSS
20 Acquisitions
$4.8B Investment
$2.7B of Annual
Revenue
5 Divestments
$2.3B Proceeds
TPE
PP&S
HISTORIC SPECIALIZATION THROUGH M&A
8
Distribution
DSM Protective
Materials
BOLT-ON ACQUISITION HISTORY
9
Commercial
Resources
Operating Income
Operating Margins
259
363
$40
$139
Established Acquisitions
(> 7 years)
+ 40% + 248% + 1300 bps
I N V E S T T O G R O W
SPECIALTY TRANSFORMATION
T O D A Y
46%
67%
86%
100%
0%
60%
80%
100%
2005 2010 2019 2021 2022 PF
%
o
f A
d
ju
st
ed
E
B
IT
D
A
• Commodity JVs
• Distribution
• Performance Products & Solutions
• Specialty Businesses
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and divestiture of Distribution
(1
)
(2)
10
Building &
43%
14%
Telecom.
2%
2006 2022 Pro Forma
21%
Building &
Telecom.
EBITDA Margins
• Focus on organic growth
combined with transformative
and bolt-on acquisitions
• Divested commodity businesses
tied to more cyclical end markets
• Expanded presence in high
growth areas of sustainable
solutions, specialty healthcare
applications, composites and
more resilient end markets
5.4%
11.5%
16.1%
2006 2018 2022PF
$142
$408
$585
2006 2018 2022PF
2006 figures exclude joint venture results
14
RETURNING CASH TO SHAREHOLDERS
Growing Dividend
0.1 0.1
0.2
0.5
0.6
0.7
0.8
0.9
0.9
1.0 1.0 1.0
11 12 13 14 15 16 17 18 19 20 21 22
0.16
0.20
0.26
0.34
0.42
0.50
0.58
0.72
0.79 0.81
0.85
0.95
0.99
11 12 13 14 15 16 17 18 19 20 21 22 23
~$1Bn
REPURCHASED
OVER LAST 11 YEARS
~$550MM
PAID OVER LAST 11 YEARS
Dividends Share Repurchases
Cumulative Buybacks
$B
n
$
p
e
r
sh
ar
e
2022 PRO FORMA
ADJUSTED EPS
Earnings Growth
Expanding Profitability
$0.15
$1.09
$2.08
$2.67
2009 2012 2015 2018 2022PF
T H IR D Q UART ER 2022
RE S U LTS
$110
$119
$0.61
$0.59
Q3 2022 PERFORMANCE
(TOTAL COMPANY CONT.
Three Months Ended
September 30, 2022
Three Months Ended
September 30, 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net (loss) income from continuing operations attributable to Avient
shareholders $ (27.4) $ (0.30) $ 33.7 $ 0.37
Special items, after tax (Attachment 3) 68.3 0.75 11.7 0.13
Amortization expense, after-tax 13.4 0.14 $ 11.0 $ 0.11
Adjusted net income / EPS $ 54.3 $ 0.59 $ 56.4 $ 0.61
2009* 2012* 2015 2018
Net income from continuing operations attributable to Avient common shareholders $ 106.7 $ 53.3 $ 144.6 $ 161.1
Joint venture equity earnings, after tax (19.0) — — —
Special items, before tax (48.7) 55.1 87.6 59.5
Special items, tax adjustments (27.2) (18.9) (58.7) (25.3)
Amortization expense, after tax 1.8 8.3 10.4 19.5
Adjusted net income from continuing operations attributable to Avient common shareholders $ 13.6 $ 97.8 $ 183.9 $ 214.8
Diluted shares 93.4 89.8 88.7 80.4
Adjusted EPS attributable to Avient common shareholders $ 0.15 $ 1.09 $ 2.08 $ 2.67
* Historical results have been updated to reflect subsequent changes to accounting principle and discontinued operations, excluding any changes as a result of
discontinued operations from the sale of the Designed Structures and Solutions segment (DSS) and the Performance Products and Solutions segment (PP&S).
1
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 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 %
Reconciliation of Color, Additives and Inks EBITDA
Operating Income 68.6 66.8
Depreciation and amortization 24.2 26.6
EBITDA 92.8 $ 93.4
Reconciliation of Specialty Engineered Materials EBITDA
SEM(1)
Pro
forma
APM(1)
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM
Operating Income 31.4 6.3 37.7 30.0 13.9 43.9
Depreciation and amortization 12.9 10.9 23.8 7.9 18.4 26.3
EBITDA $ 44.3 $ 17.2 $ 61.5 $ 37.9 $ 32.3 $ 70.2
Reconciliation of Specialty Engineered Pro Forma Sales
Sales 258.2 231.7
Pro forma APM(1) 60.7 94.1
Pro forma sales $ 318.9 $ 325.8
Reconciliation of Avient Pro Forma Sales
Sales 823.3 818.0
Pro forma APM(1) 60.7 94.1
Pro forma sales $ 884.0 $ 912.1
(1) - Q3 2022 SEM results reflect one month of APM’s results while owned by Avient, as the acquisition closed on September 1, 2022.
https://www.avient.com/sites/default/files/2024-07/Ballistic Resistant Composite Panels Product Selection _ Install Guide.pdf
CUSTOMIZED SOLUTIONS
Our custom capabilities include:
• Drilling
• Routing
• Machining
USES AND APPLICATIONS
Composite ballistic panels from Avient
are suitable for indoor and outdoor use
in commercial, governmental, industrial,
and residential applications:
• Military structures
• Infrastructure facilities
and equipment
• Banks
• Check cashing stations
• Pawn shops
• Loan and bail/bond offices
• Courtrooms
• Police stations
• Detention facilities
• Bonded warehousing
• Security buildings
• Equipment shielding locations
• Safe rooms
• Storm shelters
• Judges’ chambers
• Finishing
• Custom colors
• Unique panel sizes
UL 752 & NIJ STANDARDS FOR BALLISTIC RESISTANT PROTECTIVE MATERIALS
UL
Rating
NIJ
Level Ammunition Velocity No.
Shots Composite Panel Nominal
Thickness
Nominal
Weight
Level
1
9mm full metal
copper jacket
with lead core
1175 ft/sec
358 m/sec 3 GlasArmor
Level 1
0.256 in
6.5 mm
2.7 lb/ft2
13.2 kg/m2
2
Level
II-A
.357 magnum
jacketed
lead soft point
1250 ft/sec
381 m/sec 3 GlasArmor
Level 2
0.384 in
9.8 mm
4.0 lb/ft2
19.5 kg/m2
Level
3
Level
III-A
.44 magnum lead
semi-wadcutter
gas checked
1350 ft/sec
411 m/sec 3
GlasArmor
Level 3
0.500 in
12.7 mm
5.1 lb/ft2
24.9 kg/m2
ThermoBallistic
Level 3
0.440 in
11.2 mm
3.9 lb/ft2
19.0 kg/m2
Level
4 .30 cal. rifle lead core 2450 ft/sec
747 m/sec 1
Customized solutions
are available.
To learn more about Avient ballistic panel applications and solutions,
please call +1.844.4AVIENT (+1.844.428.4368).
https://www.avient.com/sites/default/files/2024-03/OnForce -Swimming pool cleaner connector-Case Study Snapshot.pdf
AVIENT SOLUTION
RUST FREE + GOOD SURFACE FINISH
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https://www.avient.com/sites/default/files/2023-06/Gordon Composites Diving Board Spring Case Study Snapshot.pdf
AVIENT SOLUTION
CORROSION RESISTANCE + LESS WEIGHT
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https://www.avient.com/sites/default/files/2021-12/Concrete Reinforcement Application Snapshot.pdf
AVIENT SOLUTION
METAL REPLACEMENT
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https://www.avient.com/sites/default/files/2021-05/dock-shelter-1-page.pdf
AVIENT SOLUTION
FATIGUE RESISTANCE + DURABILITY
LEARN MORE
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https://www.avient.com/sites/default/files/2021-02/never-summer-case-study-one-pager.pdf
AVIENT SOLUTION
STRUCTURAL REINFORCEMENT
LEARN MORECopyright © 2021, Avient Corporation.
https://www.avient.com/sites/default/files/2021-12/Orthopedic Fixator Application Snapshot.pdf
AVIENT SOLUTION
STIFFNESS + STRAIGHTNESS
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https://www.avient.com/sites/default/files/2021-12/Archery Cable Guard Application Snapshot.pdf
AVIENT SOLUTION
STIFFNESS + STRAIGHTNESS
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https://www.avient.com/sites/default/files/2021-03/decking-case-study-1-pager.pdf
AVIENT SOLUTION
INCREASED STRENGTH
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