https://www.avient.com/sites/default/files/2023-08/AVNT August IR Presentation w NonGAAP Recs%5B40%5D.pdf
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
AU G U S T 2 0 2 3
DISCLAIMER
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
GUIDANCE
12
15.4%
15.9%
Adjusted EBITDA Margin %
Better-than-expected margins
driven by:
• Favorable mix - strong
demand for composite
applications
• Raw material deflation
Q2 EBITDA BRIDGE
13
($ millions)
CAI:
Price / Mix 7)
Deflation 11)
SEM:
Price / Mix 2)
Deflation 6)
Net Price Benefit 26)
Wage and Energy Inflation (10)
Cost Reductions 13)
FX (2)
Q2 2023 Actual $131)
Adjusted
EBITDA
Q2 2022 Pro Forma $ 172)
Demand (68) • Demand conditions vs.
expectations:
LATAM
• Net price benefit remains greater
than wage and energy inflation
• Clariant synergies and reduced
administrative costs
Q2 2023 SEQUENTIAL SALES BY REGION
Q 2 2 0 2 3 v s .
Q 1 2 0 2 3
-8%
+6%
-1%
Flat
14
Total Avient -2.6%
2023 G U IDA N CE
$128
$525
$0.56
$2.40
2023 GUIDANCE
16
$800
$3,280
Sales Adjusted EBITDA Adjusted EPS
(in millions) (in millions)
17
• Focused on working capital
management, restructuring
actions to streamline
operations
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Preserve Free Cash Flow to
maintain net leverage
CASH FLOW / LEVERAGE
($ millions) 2023E
Cash Flow from Operating Activities 320$
Less: CapEx (140)
Free Cash Flow 180$
Adjusted EBITDA 525$
Net Debt / Adjusted EBITDA 3.0x
SUSTAINABILITY AS A GROWTH DRIVER
18
LONG-TERM REVENUE GROWTH DRIVERS
Revenue From Sustainable Solutions* 2016-2022
$340M
$405M
$455M
$550M
$790M
$915M
2016 2017 2018 2019 2020PF** 2021 2022PF***
$1,175M
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
**2020 is Pro Forma to include full year of the Clariant Color business
***2022 is Pro Forma for the acquisition of Avient Protective Materials and the divestiture of Distribution
60%+
Key Growth
Drivers
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
(GDP Growth)
Total Company Revenue
SUSTAINABILITY REPORT
2022
• Provides progress on 2030 goals
• Reaffirms commitment to U.N.
https://www.avient.com/sites/default/files/2024-11/reSound REC Recycled Content TPEs Selection Guide.pdf
reSound™ REC
VX2800-0001
reSound™ REC
VX2800-0001
I 65A Black
reSound™ REC
VX2800-0002
I 65A Black
reSound™ REC
VX0100-0001
AR I 80A Black
Recycled Content PIR PIR PIR PIR
Recycled Content, % 25% 25% 40% 30%
Recycled Source
Carpet Backing,
Nonwovens, Films,
Super Sacks
Carpet Backing,
Nonwovens, Films,
Super Sacks
Proprietary Blend Proprietary Blend
Hardness, Shore A 65 65 65 80
Color Natural Black Black Black
Specific Gravity 0.88 0.89 0.88 1.05
Tensile Strength, PSI 784 788 1023 1400
Elongation at Break, % 687 662 673 700
Compression Set
@ Room Temperature 29 27 30 –
OM Substrate PP PP PP PC, ABS,
Processing IM or OM IM or OM IM or OM IM or OM
Agency Rating – – – –
reSound™ REC
VX2800-9003
C 47A Natural
reSound™ REC
VX2800-9004
C 54A Natural
reSound™ REC
VX2800-0001
C 65A Black
Recycled Content PCR PCR PCR
Recycled Content, % 25% 25% 25%
Recycled Source Transportation Transportation Ocean-bound
Plastic
Hardness, Shore A 47 54 65
Color Natural Natural Black
Specific Gravity 0.94 0.95 0.89
Tensile Strength, PSI 250 311 900
Elongation at Break, % 585 581 670
Compression Set
@ Room Temperature – – 25
OM Substrate PP PP PP
Processing IM or OM IM or OM IM or OM
Agency Rating – – –
Automotive Testing* – – –
*Additional testing can be performed to confirm specific customer requirements.
reSound™ REC
VX2800-0003
C 65 Gray
reSound™ REC
OF 7310-80
reSound™ REC
OF 7310-90
reSound™ REC
GP 7820-340
reSound™ REC
GP 7820-360
reSound™ REC
GP 7820-380
Recycled Content PCR/PIR Blend PCR/PIR Blend PCR/PIR Blend PCR/PIR Blend PCR/PIR Blend PCR/PIR Blend
Recycled Content, % 25% 35% 45% 60% 60% 60%
Recycled Source Food
Food
Food
Transportation,
Industrial
Transportation,
Industrial
Transportation,
Industrial
Hardness, Shore A 65 80 90 36 63 77
Color Gray Black/Natural (Gray) Black/Natural (Gray) Natural Natural Natural
Specific Gravity 0.88 0.9 0.91 0.95 0.98 1.0
Tensile Strength, PSI 831 1120 1590 1027 1012 1173
Elongation at Break, % 620 570 520 1600 1200 1000
Compression Set
@ Room Temperature 26 32 37 24 30 39
OM Substrate PP PP PP PP PP PP
Processing IM or OM IM IM IM IM IM
Agency Rating Application
Specific FDA – – – – –
Automotive Testing* – VOC & FOG (VDA 278),
Odor (VDA 270)
VOC & FOG (VDA 278),
Odor (VDA 270) – – –
reSound™ REC
VX7900-5001 C I 30A
Natural
VX7900-5001 C I 50A
Natural
reSound™ REC
VX7900-5001 C I 70A
reSound™ REC
AF 7210-140 B
AF 7210-150 B
reSound™ REC
AF 7210-160 B
AF 7210-170 B
AF 7210-180 B
AF 7210-190 B
Recycled Content PIR/PCR Blend PIR/PCR Blend PIR/PCR Blend PIR/PCR Blend PIR/PCR Blend PIR/PCR Blend PIR/PCR Blend PIR/PCR Blend PIR/PCR Blend
Recycled Content, % 81% 81% 83% 59% 57% 54% 57% 56% 51%
PIR Recycled Source Proprietary Blend Proprietary Blend Proprietary Blend Transportation Transportation Transportation Transportation Transportation Transportation
PCR Recycled Source Transportation/
Industrial Transportation Transportation Transportation Transportation Transportation Transportation
Hardness, Shore A 30 50 70 43 51 61 70 81 90
Color Natural Natural Natural Black Black Black Black Black Black
Specific Gravity 1.14 1.16 1.16 0.97 0.98 0.98 0.98 0.99 0.99
Tensile Strength, MPa 2.39 3.23 3.35 4 5 5 8 10 13
Elongation at Break, % 796 654 515 1013 993 981 935 876 829
Compression Set
@ Room Temperature 16 24 37 41 44 44 48 54 55
OM Substrate PP PP PP PP PP PP PP PP PP
Processing IM or OM IM or OM IM or OM IM IM IM IM IM IM
EUROPE GRADES
reSound™ REC
VX2800-5032 C 47A
reSound™ REC
VX2800-5033 C 54A
reSound™ REC
GP 7820-140
GP 7820-160
reSound™ REC
GP 7820-180
Recycled Content PCR PCR PCR PCR PCR
Recycled Content, % 61% 61% 60% 60% 60%
PCR Recycled Source Transportation Transportation Transportation/
Hardness, Shore A 47 54 38 57 77
Color Natural Natural Natural Natural Natural
Specific Gravity 0.96 0.96 0.94 0.97 1.0
Tensile Strength, MPa 1.80 2.00 7.19 6.65 7
Elongation at Break, % 766 682 1590 1380 1010
Compression Set
@ Room Temperature 28 29 28 32 38
OM Substrate PP PP PP PP PP
Processing IM or OM IM or OM IM IM IM
EUROPE GRADES
ASIA GRADES - PIR
reSound™ REC
VX3120-801
reSound™ REC
VX3120-802
reSound™ REC
VX3120-803
Recycled Content PIR PIR PIR
Recycled Content, % 20% 40% 60%
Recycled Source Textile
Textile
Textile
Hardness, Shore A 67 68 68
Color Natural Natural Natural
Specific Gravity 1.11 1.10 1.11
Tensile Strength, PSI 1450 1229 1151
Elongation at Break, % 752 709 653
OM Substrate PC, ABS,
PC, ABS,
PC, ABS,
Processing IM or OM IM or OM IM or OM
reSound™ REC
DY 7810-801
C 30A Natural
reSound™ REC
DY 7810-801
C 40A Natural
reSound™ REC
DY 7810-801
C 50A Natural
reSound™ REC
DY 7810-801
C 60A Natural
reSound™ REC
DY 7810-801
C 70A Natural
reSound™ REC
DY 7810-801
C 80A Natural
reSound™ REC
DY 7810-801
C 90A Natural
reSound™ REC
DY 7820-801
C 30A Natural
reSound™ REC
DY 7820-801
C 40A Natural
reSound™ REC
DY 7820-801 C 50A
reSound™ REC
DY 7820-801
C 60A Natural
reSound™ REC
DY 7820-801
C 70A Natural
reSound™ REC
DY 7820-801
C 80A Natural
reSound™ REC
DY 7820-801
C 90A Natural
reSound™ REC
3630-801C 40N
reSound™ REC
3630-801C 50N
reSound™ REC
3630-801C 60N
reSound™ REC
7850-90N FR
GP 7820-240
GP 7820-260
GP 7820-280
Recycled Content PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR PCR
Recycled Content, % 9% 12% 15% 21% 23% 30% 39% 60% 60% 60% 60% 60% 60% 60% 45% 45% 45% 32% 60% 60% 60%
Recycled Source Food
Food
Food
Food
Food
Food
Food
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Packaging,
Food
Hardness, Shore A 30 40 50 60 70 80 90 30 40 50 60 70 80 90 40 49 58 85 39 57 80
Color Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural Natural
Specific Gravity 0.88 0.89 0.89 0.88 0.88 0.89 0.89 0.95 0.94 0.97 0.97 0.99 1.01 1.02 0.90 0.90 0.90 1.04 0.95 0.98 1.0
Tensile Strength, PSI 678 889 939 964 1057 1328 1619 663 804 830 859 844 1007 1279 830 965 985 1250 938 1089 1479
Elongation at Break, % >1000 983 893 750 726 699 599 1028 948 880 807 681 642 640 700 700 650 310 1600 1360 1090
OM Substrate PP PP PP PP PP PP PP PP PP PP PP PP PP PP PC, ABS, PC/ABS PC, ABS, PC/ABS PC, ABS, PC/ABS – PP 30 39
Processing IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM IM or OM EM IM IM IM
ASIA GRADES - PCR
Copyright © 2024, Avient Corporation.
https://www.avient.com/products/polymer-additives/fiber-additives/cesa-fiber-additives
The portfolio includes UV stabilizers, flame retardants, anti-oxidants, anti-static, optical brighteners, heat preservation, and chain extenders for recycled polyester fibers.
Comfortable, stylish, and lightweight warmth, all in one solution.
Comfortable, stylish, and lightweight warmth, all in one solution (Chinese language version)
https://www.avient.com/sites/default/files/2021-02/versaflex-non-blooming-solution-technical-bulletin.pdf
These new materials integrate excellent
aesthetics and functionality, including UV and
stain resistance, without sacrificing mechanical
properties.
TEST METHODS
Stain Test - Condition 1: Tea, coffee, ketchup,
mustard stand on the surface for 2 minutes at room
temperature, then removed to observe the surface
performance.
Condition 2: Sunblock and hand
cream stand on the surface for 24 hours at 50°C, then
removed to observe the surface performance.