https://www.avient.com/sites/default/files/2022-06/2021_Climate Change Score Report_Avient.pdf
Scenario analysis No, but we anticipate using qualitative and/or quantitative
analysis in the next two years
https://6fefcbb86e61af1b2fc4-c70d8ead6ced550b4d987d7c03fcdd1d.ssl.cf3.rackcdn.com/cms/guidance_docs/pdfs/000/000/233/original/Scoring-Introduction.pdf?
https://www.avient.com/sites/default/files/2021-12/2021-climate-change-score-report.pdf
Scenario analysis No, but we anticipate using qualitative and/or quantitative
analysis in the next two years
https://6fefcbb86e61af1b2fc4-c70d8ead6ced550b4d987d7c03fcdd1d.ssl.cf3.rackcdn.com/cms/guidance_docs/pdfs/000/000/233/original/Scoring-Introduction.pdf?
https://www.avient.com/sites/default/files/2025-01/SEM MCCB Phase Barrier Application Bulletin.pdf
Unlike flexible PVC, which loses flexibility
over time, Avient materials do not fail over the
MCCB’s service life (approximately 10 years).
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Presentation_For_Website_w_non-GAAP_5_6_1.pdf
Q1 2023
( T O TA L C O M PA N Y )
$846 $829
Q1 23 Q1 24
$134
$143
Q1 23 Q1 24
17.3%
Sales Adjusted EBITDA
(in millions)
$0.63
$0.76
Q1 23 Q1 24
Adjusted EPS
(in millions)
+ 7% + 21%
Sales Adjusted EBITDA Adjusted EPS
6
- 2%
15.8%
+150 bps
*
*
* Adjusted EBITDA Margin %
Q1 2024 SEGMENT PERFORMANCE
( C O L O R S , A D D I T I V E S & I N K S )
$537
$515
Q1 23 Q1 24
$91
$97
Q1 23 Q1 24
18.8%
Sales Adjusted EBITDA
(in millions) (in millions)
+ 7%
Sales Adjusted EBITDA
7
- 4%
17.0%
+180 bps
*
*
* Adjusted EBITDA Margin %
• Year over year demand
continues to improve for the
segment but slowly due to
continued weakness in Europe
• Raw material deflation & cost
reduction actions primary drivers
of adjusted EBITDA growth and
margin expansion of +180 bps vs
Q1 2023
Q1 2024 SEGMENT PERFORMANCE
( S P E C I A LT Y E N G I N E E R E D M AT E R I A L S )
$310
$314
Q1 23 Q1 24
$64
$73
Q1 23 Q1 24
23.2%
Sales Adjusted EBITDA
(in millions) (in millions)
+ 14%
Sales Adjusted EBITDA
8
+ 1%
20.8%
+240 bps
*
*
* Adjusted EBITDA Margin %
• Sales growth in defense end
market offset by weaker
demand in telecommunications
end market
• Raw material deflation and
favorable mix impact from
defense sales primary drivers
of adjusted EBITDA growth and
margin expansion of +240 bps
vs Q1 2023
Q1 EBITDA BRIDGE
( T O TA L C O M PA N Y )
9
$ millions
CAI:
Price / Mix (1)
Deflation 16
SEM:
Price / Mix 4
Deflation 7
Net Price Benefit 26
Wage/Other Inflation (9)
FX (2)
Q1 2024 $143
Adjusted
EBITDA
Q1 2023 $ 134
Demand (6)
• Positive net price benefit:
o Favorable raw material
deflation in both segments
• Wage and other inflation more than
offset cost reductions/synergies
2 0 2 4 G U I D A N C E
FY 2024 GUIDANCE
Original Revised
Adjusted EBITDA $505 to $535 million $510 to $535 million
Adjusted EPS $2.40 to $2.65 $2.50 to $2.65
Interest Expense $105 to $110 million $105 million
Adjusted Effective Tax Rate 23% to 25% 23% to 25%
Capital Expenditures ~$140 million ~$140 million
11
Q2 2024: Adjusted EPS of $0.71
C E O “ T O P O F M I N D ”
F O C U S A R E A S
AREAS OF FOCUS
13
+7%
Drive Profitable Organic
Top-Line Growth with
Margin Expansion
Amplify Innovation Build Leadership & Talent
Pipeline
A P P E N D I X
16
Performance
Additives
15%
Pigments
13%
TiO2
9%
Dyestuffs
2%
Polyethylene
10%Nylon
5%
Polypropylene
4%
Styrenic Block
Copolymer
4%
Other Raw
Materials
38%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
RA W MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
41%
EMEA
36%
Asia
18%
Latin America
5%
2023 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
19%
Packaging
23%Industrial
16%
Building and
Construction
9%
Telecommunications
4%
Energy
5%
Defense
7%
END MARKET REVENUE
$2,007M $358M
$1,138M $224M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$502M$3,143M
(1)
Transportation
10%
Healthcare
7%
18
(1) Total company sales and adjusted EBITDA of $3,143M and $502M, respectively, include intercompany sales eliminations and corporate costs
2 0 2 3 R E V E N U E | $ 2 . 0 B I L L I O N
US & Canada
34%
EMEA
37%
Asia
21%
Latin America
8%
END MARKET REGION
19
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
15%
Transportation
9%
Building &
Construction
10%
Telecommunications
1% Energy
2%
COLOR, ADDITIVES & INKS
2 0 2 3 R E V E N U E | $ 1 . 1 B I L L I O N
US & Canada
52%
EMEA
35%
Asia
13%
20
Packaging
5%
Consumer
16%
Healthcare
6%Industrial
16%
Transportation
12%
Telecommunications
9%
Energy
10% Defense
18%
Building &
Construction
8%
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
Packaging
32%
Consumer
26%
Healthcare
9%
Industrial
13%
Building &
Construction
6%
Telecommunications
2%
Energy
2% Defense
1%
Asia
(18% of sales)
Transportation
9%
2 0 2 3 AV I E N T R E G I O N A L S A L E S
Packaging
25%
Consumer
13%
Healthcare
5%
Industrial
18%
Building &
Construction
9%
Energy
5%
Defense
8%
EMEA
(36% of sales)Transportation
13%
Packaging
13%
Consumer
22%
Healthcare
10%
Industrial
16%
Building &
Construction
12%
Energy
6%
Defense
8%
US &
Canada
(41% of sales)
Transportation
9%
Packaging
59%
Consumer
22%
Healthcare
2%
Industrial
8%
Building &
Construction
4%
LATAM
(5% of sales)
Transportation
5%
Telecommunications
4%
Telecommunications
4%
21
B Y E N D M A R K E T
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
Three Months Ended
March 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 49.4 $ 0.54 $ 20.8 $ 0.23
Special items, after-tax 5.5 0.06 22.3 0.24
Amortization expense, after-tax 14.9 0.16 15.1 0.16
Adjusted net income / EPS $ 69.8 $ 0.76 $ 58.2 $ 0.63
Three Months Ended
March 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 49.7 $ 21.3
Income tax expense 16.8 7.7
Interest expense, net 26.6 28.8
Depreciation and amortization 44.3 50.5
EBITDA from continuing operations 137.4 108.3
Special items, before tax 6.2 27.3
Depreciation and amortization included in special items (0.5) (1.8)
Adjusted EBITDA $ 143.1 $ 133.8
Adjusted EBITDA as a percent of sales 17.3 % 15.8 %
1
Three Months Ended
March 31,
2024 2023
Sales:
Color, Additives and Inks $ 515.3 $ 537.0
Specialty Engineered Materials 314.4 309.7
Corporate (0.7) (1.0)
Sales $ 829.0 $ 845.7
Operating income:
Color, Additives and Inks $ 74.8 $ 65.6
Specialty Engineered Materials 53.4 43.1
Corporate (34.2) (51.6)
Operating income $ 94.0 $ 57.1
Depreciation & amortization:
Color, Additives and Inks $ 21.9 $ 25.8
Specialty Engineered Materials 19.6 21.2
Corporate 2.8 3.5
Depreciation & amortization $ 44.3 $ 50.5
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 96.7 $ 91.4
Specialty Engineered Materials 73.0 64.3
Corporate (31.4) (48.1)
Other (expense) income, net (0.9) 0.7
EBITDA from continuing operations 137.4 108.3
Special items, before tax 6.2 27.3
Depreciation and amortization included in special items (0.5) (1.8)
Adjusted EBITDA $ 143.1 $ 133.8
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 18.8 % 17.0 %
Specialty Engineered Materials 23.2 % 20.8 %
2
Year Ended
December 31, 2023
Sales:
Color, Additives and Inks $ 2,007.4
Specialty Engineered Materials 1,138.2
Corporate (2.8)
Sales $ 3,142.8
Operating income:
Color, Additives and Inks $ 259.9
Specialty Engineered Materials 142.5
Corporate (205.6)
Operating income $ 196.8
Depreciation & amortization:
Color, Additives and Inks $ 98.3
Specialty Engineered Materials 81.5
Corporate 9.0
Depreciation & amortization $ 188.8
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 358.2
Specialty Engineered Materials 224.0
Corporate (196.6)
Other income, net 5.8
EBITDA from continuing operations 391.4
Special items, before tax 114.6
Interest expense included in special items (2.3)
Depreciation and amortization included in special items (1.9)
Adjusted EBITDA $ 501.8
3
AVNT Q1 2024 Earnings Presentation_For_Website_w_non-GAAP.pdf
Avient corporation�first quarter 2024 results and 2024 financial guidance
DISCLAIMER
Slide Number 3
Regional demand trends-total company�Q1 Sales vs PY (Excluding FX)
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
Slide Number 9
Slide Number 10
Slide Number 11
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
2023 segment, end market and Geography
Color, Additives & Inks
Specialty Engineered Materials
Slide Number 21
IR Deck - AVNT-2024.03.31 5.06 11AM v2 (002).pdf
Attachment
https://www.avient.com/sites/default/files/2024-10/2024 AVNT Q3 Webcast Slides w appendix and non-GAAP.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
• 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;
• Disruptions or inefficiencies in our supply chain, logistics, or operations;
• Changes in laws and regulations in jurisdictions where we conduct business, including with respect to plastics and climate change;
• Fluctuations in raw material prices, quality and supply, and in energy prices and supply;
• Demand for our products and services;
• 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;
• 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;
• Our ability to achieve strategic objectives and successfully integrate acquisitions, including the implementation of a cloud-based enterprise resource planning system, S/4HANA;
• Other factors affecting our business beyond our control, including without limitation, changes in the general economy, changes in interest rates, changes in the rate of inflation, geopolitical conflicts and any recessionary conditions; and
• Other factors described in our Annual Report on Form 10-K for the year ended December 31, 2023 under Item 1A, “Risk Factors.”
For the same reasons, Avient is unable to address the probable significance of the unavailable information.
2
3
Q3 2024 HIGHLIGHTS
• 8.5% organic sales growth driven by broad-based
growth across all regions and most end markets in both
CAI and SEM segments
• Growth stemmed from gaining share, winning new
product specifications and restocking in certain end
markets
• Both segments expanded YoY EBITDA margins by 40
bps each
• Adjusted EPS of $0.65, an increase of 14% vs the
prior year
• Successfully refinanced $650M outstanding senior
notes due 2025; extending maturity to 2031
• Increased dividend 5% to $1.08 on an annualized
basis; 14th consecutive increase
Adj.
Three Months Ended
September 30,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 38.2 $ 0.41 $ 5.1 $ 0.06
Special items, after-tax 6.6 0.07 32.0 0.35
Amortization expense, after-tax 15.0 0.16 15.2 0.16
Adjusted net income / EPS $ 59.8 $ 0.65 $ 52.3 $ 0.57
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Three Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 38.7 $ 5.1
Income tax expense (benefit) 11.3 (0.1)
Interest expense, net 26.9 30.3
Depreciation & amortization 45.1 46.4
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales 15.9 % 16.3 %
1
Three Months Ended
September 30,
2024 2023
Sales:
Color, Additives and Inks $ 521.5 $ 486.5
Specialty Engineered Materials 294.6 267.9
Corporate (0.9) (0.7)
Sales $ 815.2 $ 753.7
Operating income:
Color, Additives and Inks $ 75.5 $ 64.5
Specialty Engineered Materials 36.4 30.3
Corporate (34.7) (60.5)
Operating income $ 77.2 $ 34.3
Depreciation & amortization:
Color, Additives and Inks $ 21.9 $ 24.6
Specialty Engineered Materials 20.7 20.5
Corporate 2.5 1.3
Depreciation & amortization $ 45.1 $ 46.4
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 97.4 $ 89.1
Specialty Engineered Materials 57.1 50.8
Corporate (32.2) (59.2)
Other (expense) income, net (0.3) 1.0
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 18.7 % 18.3 %
Specialty Engineered Materials 19.4 % 19.0 %
2
Year Ended
December 31, 2023
Operating income:
Color, Additives and Inks $ 259.9
Specialty Engineered Materials 142.5
Corporate (205.6)
Operating income $ 196.8
Depreciation & amortization:
Color, Additives and Inks $ 98.3
Specialty Engineered Materials 81.5
Corporate 9.0
Depreciation & amortization $ 188.8
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 358.2
Specialty Engineered Materials 224.0
Corporate (196.6)
Other income, net 5.8
EBITDA from continuing operations 391.4
Special items, before tax 114.6
Interest expense included in special items (2.3)
Depreciation & amortization included in special items (1.9)
Adjusted EBITDA $ 501.8
3
Avient Q3 Earnings Webcast Slides w_Appendix and Non-GAAP.pdf
2024 AVNT Q3 Webcast Slides w non-GAAP.pdf
Q3 Avient Webcast Slides with Non-GAAP Recs.pdf
Appendix Slides for webcast.pdf
IR Deck - AVNT-2024.09.30 - 10.30.24 3PM (002).pdf
Attachment
https://www.avient.com/sites/default/files/2020-07/phthalate-facts-brochure.pdf
Selected for their strong performance
and durability, phthalates are the most commonly used
plasticizers in the world.1
In recent years, concerns have been raised over the
use of phthalates, giving rise to myths and unfounded
speculation.
https://www.avient.com/sites/default/files/2021-04/versalloy-medical-tubing-case-study.pdf
Cost savings: The hose manufacturer is saving $33,000
per year by using Versalloy TPV instead of its previous
material.
https://www.avient.com/sites/default/files/2020-07/core-powder-coatings-in-luxury-vehicles-case-study.pdf
By switching to CORE™ VBX Series
Vinyl Powders, from Avient, the supplier was able to
produce the interior door panels with an estimated
savings of $20 per door, or $80 per vehicle, translating
to roughly $800,000 per year assuming niche vehicle
production levels.
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202012%2520-%2520Global%2520Engineered%2520Materials.pdf
Nikrant
Page 67
United
States
36%
Europe
36%
Canada
2%
Asia
20%
Latin
America
2011 Revenue: $0.6 Billion2011 Revenue: $0.6 Billion SolutionsSolutions
At a Glance
Global Specialty Engineered Materials
Appliance
6% Building &
Construction
3%
Wire & Cable
14%
Electrical &
Electronics
14%Consumer
21%
Packaging
5%
Industrial
8%
Misc.
3%
HealthCare
5%
Transportation
21%
America
6%
2011 Revenue by Industry Segment2011 Revenue by Industry Segment
1.1%
1.3%
3.4%
5.1%
9.6%
8.0%
12-16%
2006 2007 2008 2009 2010 2011 2015
Operating Income % of Sales
Target
Expanding ProfitsExpanding Profits
Page 68
Value Proposition
• GSEM is a global leader providing complete specialty solutions encompassing
innovative technologies and services to enable customer success
Transformation Highlights
• Dramatic turnaround of the Engineered Materials business through mix
improvement and specialty focus
Value Proposition and Transformation Highlights
Global Specialty Engineered Materials
improvement and specialty focus
• GLS acquisition successfully integrated, having more than
doubled earnings in 3 years
• PolyOne culture and strategy now engrained worldwide
• Expansion into healthcare with dedicated resources
> $15B Addressable Market
Page 69
• Polymer design, formulation and service expertise
• Broad, global technology base and regional centers
of excellence
• Ten innovation centers around the world
Key Differentiators
Global Specialty Engineered Materials
• Ten innovation centers around the world
• Specialty brand leadership with
PolyOne, GLS, NEU and ECCOH
• Ability to leverage global key
account team
Page 70
From Volume
Commodity-driven product portfolio
To Value
Specialty technology and solutions
EM North America Transformation
Volume Sales Gross Margin $
Mix Transformation – Executing the Strategy
Global Specialty Engineered Materials
2006 2011 2006 2011 2006 2011
Page 71
$12
$29
Operating Income
($ in millions)
• Provided access to new customers
in specialized, high-growth markets
such as healthcare and consumer
• Strategic partner to many of the
world’s best-known companies
GLS Integration Success
16.9%
8.2%
2007 2011
2007 2011
Working Capital % of Sales
• Complementary global footprint
provided additional cross-selling
opportunities
• Opportunity to expand margins
and drive working capital
improvement while remaining
customer-focused
Page 72
$1.3
$27.6
2006 2011
Healthcare Revenue
• Investment in dedicated
healthcare team to drive
penetration and growth
• Leverage product portfolio
globally & win specialty business
Areas of Focus
Global Specialty Engineered Materials
$10.5
$117.9
2006 2011
Consumer Revenue
2006 2011globally & win specialty business
in targeted markets
• Aggressively commercialize
specialty innovation platforms
• Utilize our innovation centers to
influence OEM design
(Revenue in $ millions)
Page 73
• Carbon Nanotube Formulations
� Applications: Semiconductor equipment, hard drives
� Customer benefits: Scrap cost reduction and
clean conductivity
• Thermally Conductive Solutions
Applications: Sockets and bulb holders for LED lighting
Key Innovations
Global Specialty Engineered Materials
� Applications: Sockets and bulb holders for LED lighting
� Customer benefits: Cost reduction, energy saving, and
design flexibility
• FDA-Regulated TPEs
� Applications: Food packaging seals, intravenous delivery
systems, medical stoppers, prefilled syringes
� Customer benefits: Clean and safe elastomers for highly
regulated applications
Page 74
Critical Imperatives and 2015 Goal
Global Specialty Engineered Materials
Critical Imperatives
• Commercialize critical new technology platforms
• Manage the mix as we continue to drive
the transformation
• Global translation of commercial successes
2015 Goal
• 12 - 16% return on sales
Page 75
Page 76
https://www.avient.com/sites/default/files/2020-11/gls-acqua-plose-case-study.pdf
For more than 50 years, closurelogic GmbH has been
manufacturing aluminum closures in Germany.