https://www.avient.com/sites/default/files/2024-07/TPE Whitepaper_0.pdf
And even in this environment,
capacity limits loom large.
Specifically, here are five ways TPEs can help the
healthcare industry meet an anticipated capacity
crunch:
1.
Additionally, TPEs help
to generate lead-time enhancements and feed
into capacity utilization improvements.
https://www.avient.com/sites/default/files/resources/Innovation%2520Day%2520-%2520May%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limita tion, the acquisition
being accretive;
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 financial condition of our customers, including the ability of customers (especially those that may be highly leveraged a nd those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
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 or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working
capital reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, chang es in interest rates
and changes in the rate of inflation
In addition, operating income before special items and
adjusted EPS are components of various PolyOne annual and long-term employee
incentive plans
Richardson
Executive Vice President, Chief Financial Officer
PolyOne Corporation Page 15
Track Record of Accelerated Growth
Total Revenue Adjusted EPS Adjusted EBITDA
$2,061
$2,506
$2,709
$2,861
$3,771
2009 2010 2011 2012 2013
($ in millions, except EPS )
$105
$179
$202
$255
$344
2009 2010 2011 2012 2013
$0.13
$0.68
$0.82
$1.00
$1.31
2009 2010 2011 2012 2013
PolyOne Corporation Page 16
$0.31
$0.44
$0.20
$0.30
$0.40
Q1 2013 Q1 2014
Adjusted EPS
$42
$60
$20
$40
$60
Q1 2013 Q1 2014
Specialty Operating Income
($ millions)
Q1 2014 Financial Highlights
Growth momentum accelerates
driven by specialty platform
Specialty segments and
Distribution achieve record results
All segments increase operating
income compared to prior year
Revenue grew 25% versus
Q1 2013
+43%
+42%
$57
$79
$30
$60
$90
Q1 2013 Q1 2014
Adjusted Operating Income
($ millions)
+39%
PolyOne Corporation Page 17
Commitment to Operational Excellence
81%
96%
2006 2013
16.2%
10.9%
2006 2013
On-Time Delivery
Working Capital % of Sales
5.0%
31.0%
2006 2013
Percent of Associates Trained in LSS
Three consecutive years – CFO Magazine
Best Working Capital Management
Program in the chemical industry
World’s Best Business
Process Excellence
Program in 2012*
95 certified Black Belts
211 certified Green Belts
422 Project Leaders
World’s Best “Start-up
Program” for Lean Six Sigma
Deployment in 2009*
*Both awards received from International Quality and Productivity Center
PolyOne Corporation Page 18
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
*TTM 12/31/2013
** includes US-qualified pension plans only
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
PolyOne Corporation Page 19
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million shares in
Q1 2014
Repurchased 6.4 million
shares since April 2013
13.6 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 20
3.07 3.05
1.81
1.45
1.82
1.54
0.85
3.15
1.17
1.69
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
0.91
PolyOne
Valuation Aspirations
PEG Ratio Comparison
Represents $38 of
share price upside
Avg = 1.96
PolyOne Corporation Page 21
Innovating for the Future
Dr.
https://www.avient.com/news/polyone-recognized-among-northcoast-99-best-workplaces
NorthCoast 99 is an annual recognition program that honors 99 great workplaces for top talent in Northeast Ohio.
https://www.avient.com/idea/electric-car-quickens-pulse-color
These improvements freed working capital for other projects, and helped keep production running at a consistent rate for annual savings estimated by the company at more than $200,000 a year.
https://www.avient.com/idea/tote-maker-differentiates-impact-modification
Improved performance, reduced weight contribute to $500,000 in annual savings
https://www.avient.com/idea/utilizing-ocean-plastic-more-circular-economy
According to projections, the world may produce over 400 million tons of plastic waste annually by 2030 (National Geographic).
https://www.avient.com/news/oncap-fragrance-technologies-polyone-receive-ringier-technology-innovation-award
Launched in 2006, the Awards are organized by Ringier Trade Media’s Industry Sourcing, a leading B2B industrial information provider, and are held annually to give recognition to those who have made the most significant contributions to innovation in food & beverage, packaging, plastics, metalworking, personal care, industrial laser and other industries.
https://www.avient.com/news/polyone-showcases-solutions-efficient-manufacturing-wire-2014
The WIRE show, held bi-annually in Düsseldorf, Germany, runs from April 7-11, 2014.
https://www.avient.com/news/polyone’s-new-website-recognized-exceptional-customer-experience-kapost-top-50-b2b-brands-ranking
Its annual ranking process includes evaluating the content of hundreds of brands, and selecting the top 50 based on innovation, engagement, frequency, and design.
https://www.avient.com/sites/default/files/2021-04/avient-sustain-2019-210419-interactive.pdf
We believe that the quality, production capacity and locations of our more than 100 facilities helps to maintain our competitive position and accelerate speed to market.
This purchase is equal to our annual electricity needs in the U.S. and
Canada.
Annually, we conduct training for hourly associates.