https://www.avient.com/sites/default/files/2021-01/amendment-to-articles-commercial-registration-avient-corporation.pdf
Robert K.
James, Assistant Secretary and Assistant Treasurer
Robert K.
https://www.avient.com/sites/default/files/resources/AVNT Fermium Conference - May 2023 w NonGAAP Recs.pdf
W H AT W E D O : M AT E R I A L S C I E N C E
5
CUSTOM
FORMULATION
M AY 3 , 2 0 2 3
W E B C A S T
Keeping Safety First
o Relentless focus on best-in-class safety performance as an
ACC Responsible Care® organization
Exceeding Customer Expectations
o Complementary technologies and customer relationships offer
opportunity for future revenue synergies
o Proven innovation-led commercial strategy with strong brands
and participation across the full value chain
Collaboration in Innovation
o Leveraging Dyneema®, the world’s strongest fiber™, to
accelerate growth of sustainable, ultralight and high
performance applications
People – Culture is Everything
o Talented, passionate and collaborative associates drive an
effective integration strategy
o Strong Great Places to Work® scores reflect positive
integration efforts in first year
AVI E N T P ROT EC T I VE MAT ER I A L S I N T EG R ATI O N
7
AVI ENT PROTEC TI VE MATERI ALS
K E Y I N D U S T R I E S
PERSONAL PROTECTION
Military • Law Enforcement • First
Responders • Body Armor • Helmets •
Vehicle Protection
50%
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
30%
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
20%
8 Figures reflect approximate proportions of 2022 sales
Q 1 P E R F O R M A N C E
Q1 2023 PERFORMANCE VS.
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
2023E(%)
36
79
87
83 81
76
73
90
79 77 76
73
69
60
22
A
vi
e
n
t
K
W
R
P
P
G
F
U
L
A
V
Y
R
P
M
F
M
C
C
E
H
X
L
A
S
H
E
C
L
H
U
N
E
M
N
S
C
L
M U LT I P L E E X PA N S I O N
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
Source: Peer data per Bloomberg as of April 28, 2023
Note: Avient reflects 2023 adjusted EBITDA guidance of $530M and closing share price of $38.51.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
37
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
9.9
14.6
13.7
13.0
11.9
8.8
18.7
17.4
11.8
10.0 9.7
9.1
8.0 7.9
A
vi
e
n
t
(2
0
1
1
)
A
vi
e
n
t
(2
0
1
8
)
A
vi
e
n
t
(2
0
2
3
)
K
W
R
P
P
G
R
P
M
A
V
Y
F
U
L
E
C
L
H
X
L
F
M
C
A
S
H
S
C
L
C
E
E
M
N
H
U
N
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.
https://www.avient.com/sites/default/files/2023-05/AVNT Q1 2023 Earnings Presentation.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.
2
Keeping Safety First
o Relentless focus on best-in-class safety performance as an
ACC Responsible Care® organization
Exceeding Customer Expectations
o Complementary technologies and customer relationships offer
opportunity for future revenue synergies
o Proven innovation-led commercial strategy with strong brands
and participation across the full value chain
Collaboration in Innovation
o Leveraging Dyneema®, the world’s strongest fiber™, to
accelerate growth of sustainable, ultralight and high
performance applications
People – Culture is Everything
o Talented, passionate and collaborative associates drive an
effective integration strategy
o Strong Great Places to Work® scores reflect positive
integration efforts in first year
AVI E N T P ROT EC T I VE MAT ER I A L S I N T EG R ATI O N
3
AVI ENT PROTEC TI VE MATERI ALS
K E Y I N D U S T R I E S
PERSONAL PROTECTION
Military • Law Enforcement • First
Responders • Body Armor • Helmets •
Vehicle Protection
50%
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
30%
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
20%
4 Figures reflect approximate proportions of 2022 sales
Q 1 P E R F O R M A N C E
Q1 2023 PERFORMANCE VS.
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
2023E(%)
32
79
87
83 81
76
73
90
79 77 76
73
69
60
22
A
vi
e
n
t
K
W
R
P
P
G
F
U
L
A
V
Y
R
P
M
F
M
C
C
E
H
X
L
A
S
H
E
C
L
H
U
N
E
M
N
S
C
L
M U LT I P L E E X PA N S I O N
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
Source: Peer data per Bloomberg as of April 28, 2023
Note: Avient reflects 2023 adjusted EBITDA guidance of $530M and closing share price of $38.51.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
33
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
9.9
14.6
13.7
13.0
11.9
8.8
18.7
17.4
11.8
10.0 9.7
9.1
8.0 7.9
A
vi
e
n
t
(2
0
1
1
)
A
vi
e
n
t
(2
0
1
8
)
A
vi
e
n
t
(2
0
2
3
)
K
W
R
P
P
G
R
P
M
A
V
Y
F
U
L
E
C
L
H
X
L
F
M
C
A
S
H
S
C
L
C
E
E
M
N
H
U
N
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.
https://www.avient.com/sites/default/files/2024-12/AVNT Investor Day 2024 Presentation.pdf
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
All Rights Reserved
2024 33
Drug delivery devices
CATALYZE THE CORE
M ARKET DRIVERS & NEEDS
• Regulatory compliance
• Reliable material quality and
uninterrupted supply
• Supply chain risk mitigation
• Global reach
$6B ADDRESSABLE MARKET
A V I E N T E N D M A R K E T S , A P P L I C A T I O N S
AVIENT VALUE PROPOSITION
• ISO 13485 accredited sites
• Globally approved raw material
portfolio
• Strict change management
• Global supply
Auto injectors Syringes Inhalers
OTHER
APPLICATONS
• In-vitro diagnostics
• Remote monitoring
• Pharma packaging
• Catheters
• Medical equipment
Copyright © .
All Rights Reserved
2024 34
Plastic lightweighting
CATALYZE THE CORE
M ARKET DRIVERS & NEEDS
• Reducing material and
energy usage
• Achieving sustainability goals
and objectives
• Improved product performance,
structural integrity
$5B ADDRESSABLE MARKET
A V I E N T E N D M A R K E T S , A P P L I C A T I O N S
AVIENT VALUE PROPOSITION
• Best-in-class additives for
a wide range of polymer
processing temperatures
• Design services to simulate
foaming and mold designs
TransportationWood plasticcomposite decking
Bottles and
food packaging
Building and
construction
Copyright © .
https://www.avient.com/sites/default/files/resources/PolyOne%25202014%2520Annual%2520Report.pdf
You are
advised, however, to consult any further disclosures we make on related subjects in our reports on
Forms 10-Q, 8-K and 10-K furnished to the SEC.
I have reviewed this Annual Report on Form 10-K of PolyOne Corporation;
2.
THIS PAGE IS NOT PART OF POLYONE’S FORM 10-K FILING
STEPHEN D.
https://www.avient.com/sites/default/files/resources/Polyone%2520AR.pdf
POLYONE CORPORATION 11
Lisa K.
Donald K.
FORM 10-K SUMMARY
None.
https://www.avient.com/investors/governance/board-directors
Ashish K.
https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
You are
advised, however, to consult any further disclosures we make on related subjects in our reports on
Forms 10-Q, 8-K and 10-K furnished to the SEC.
Kahler 58 Senior Vice President, Chief Commercial Officer
Lisa K.
Lisa K.
https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Presentation%5B70%5D.pdf
Global Compact
• Highlights ESG Performance, including
ratings, awards, and certifications
• Features increased carbon emissions
disclosures, including Climate Change Scenario
Analysis and Scope 3 emissions data
• Outlines Sustainable Supplier Program,
designed to enable supplier evaluation &
collaboration
• Reflects Great Place To Work® culture focused
on safety, employee engagement and
advancing diversity, equity and inclusion
20 22 SUSTAI NA BILI TY REPORT
15
Avient Confidential 16
• Virtual presentation to be held
September 20, 2023
• Leadership will be conducting
an investor-focused
presentation around our
sustainable solutions portfolio
• Deep dive into how we enable
customers to achieve their
sustainability goals
SUSTAINABILITY DAY
16
…are Growing at Twice the Rate as
Conventional Products
Sustainably-Branded Products…
STAKEHOLD ER INFLUENC E D RI VES D EMA ND
Consumers
Are demanding
recyclability and eco-
conscious products
Governments
Are mandating changes
through legislation, taxes,
and regional accords
Brand Owners
Have committed to
ambitious goals to achieve
sustainability metrics
17
A P P E N D I X
20
Performance
Additives
16%
Pigments
12%
TiO2
10%
Dyestuffs
2%
Polyethylene
11%
Nylon
6%
Polypropylene
5%
Styrenic Block
Copolymer
5%
Other Raw
Materials
33%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
2022 pro forma results for the acquisition of Avient Protective Materials
RA W MATERI AL BA SKET
PEER COMPARISONS
AVI ENT I S ASSET LI GHT
Capex / Revenue
2023E (%)
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
Source: Peer data per Bloomberg as of July 21, 2023
Note: Avient reflects 2023 estimated revenue of $3,280 and estimated run-rate CAPEX of $110M.
22
3
2
3 3
4 4
3 3
4
5 5
7
8 8
A
vi
e
n
t
K
W
R
P
P
G
F
U
L
R
P
M
A
V
Y
F
M
C
H
U
N
C
E
H
X
L
E
C
L
A
S
H
E
M
N
S
C
L
FR EE CA SH FLOW CONV ER SION
Source: Peer data per Bloomberg as of July 21, 2023
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Avient reflects 2023 adjusted EBITDA guidance of $525M and estimated run-rate CAPEX of $110M.
2023E (%)
23
79
90
84 83
76
73
88
82
77
74 72
67
57
20
A
vi
e
n
t
K
W
R
P
P
G
F
U
L
A
V
Y
R
P
M
F
M
C
C
E
H
X
L
E
C
L
A
S
H
H
U
N
E
M
N
S
C
L
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
MULTI PL E EX PANSION
Source: Peer data per Bloomberg as of July 21, 2023
Note: Avient reflects 2023 adjusted EBITDA guidance of $525M and closing share price of $40.93.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
24
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
10.3
14.4
13.6 13.6
12.4
9.0
20.2
18.2
11.5
10.6
9.7 9.6
8.7 8.3
A
vi
e
n
t
(2
0
1
1
)
A
vi
e
n
t
(2
0
1
8
)
A
vi
e
n
t
(2
0
2
3
)
R
P
M
P
P
G
K
W
R
A
V
Y
F
U
L
E
C
L
H
X
L
F
M
C
A
S
H
S
C
L
C
E
H
U
N
E
M
N
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
SEGMENT DATA
U.S. & Canada
40%
EMEA
37%
Asia
18%
Latin America
5%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
20%
Packaging
24%
Industrial
15%
Building and
Construction
10%
Telecommunications
4%
Energy
4%
Defense
6%
END MARKET REVENUE
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
Transportation
9%
Healthcare
8%
26
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
2 0 2 2 R E V E N U E | $ 2 . 4 B I L L I O N
US & Canada
34%
EMEA
38%
Asia
20%
Latin America
8%
END MARKET REGION
27
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
15%
Transportation
8%
Building &
Construction
11%
Telecommunications
1% Energy
2%
COLOR , AD DI TI VES & INKS
2 0 2 2 P R O F O R M A R E V E N U E | $ 1 . 3 B I L L I O N
US & Canada
52%
EMEA
35%
Asia
13%
28
Packaging
5%
Consumer
19%
Healthcare
8%Industrial
16%
Transportation
10%
Telecommunications
10%
Energy
9% Defense
15%
Building &
Construction
8%
END MARKET REGION
SPEC IA LTY ENGI NEER ED MATERI ALS
Packaging
32%
Consumer
27%
Healthcare
8%
Industrial
14%
Building &
Construction
5%
Telecommunications
3%
Energy
1% Defense
1%
Asia
(18% of sales)
Transportation
9%
2 0 2 2 P R O F O R M A AV I E N T R E G I O N A L S A L E S
Packaging
27%
Consumer
14%
Healthcare
5%
Industrial
17%
Building &
Construction
10%
Energy
5%
Defense
8%
EMEA
(37% of sales)Transportation
11%
Packaging
13%
Consumer
24%
Healthcare
12%
Industrial
15%
Building &
Construction
13%
Energy
5%
Defense
5%
US &
Canada
(40% of sales)
Transportation
7%
Packaging
56%
Consumer
23%
Healthcare
4%
Industrial
7%
Building &
Construction
4%
Telecommunications
1%
LATAM
(5% of sales)
Transportation
5%
Telecommunications
3%
Telecommunications
6%
29
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.
https://www.avient.com/sites/default/files/2024-11/AVNT M11 Investor Presentation_w_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.”
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
FX +8.5%
FX -0.4%
Total Avient +8.1%
Note: Regional Sales Percentages exclude impact of foreign exchange
COLOR, ADDITIVES & INKS SEGMENT
( Q 3 2 0 2 4 P E R F O R M A N C E V S Q 3 2 0 2 3 )
$487
$522
Q3 23 Q3 24
$89
$97
Q3 23 Q3 24
Sales Adjusted EBITDA
(in millions) (in millions)
Sales Adjusted EBITDA
10
+ 7%
(+8% excluding FX)
+ 9%
(+11% excluding FX)
18.3%
+40 bps *18.7%
*
* Adjusted EBITDA Margin %
• Sales growth driven by winning
new product specifications in
consumer & packaging, strong
underlying demand in healthcare
and improving demand in building
& construction
• Favorable mix and raw material
deflation contributed to EBITDA
margin expansion
SPECIALTY ENGINEERED MATERIALS SEGMENT
( Q 3 2 0 2 4 P E R F O R M A N C E V S Q 3 2 0 2 3 )
$268
$295
Q3 23 Q3 24
$51
$57
Q3 23 Q3 24
Sales Adjusted EBITDA
(in millions) (in millions)
Sales Adjusted EBITDA
11
• Sales growth driven by restocking
in healthcare & consumer end
markets and strong underlying
demand for composite
applications used in building &
construction, energy and defense
end markets
• Favorable mix contributed to
EBITDA margin expansion
+ 10%
(+10% excluding FX)
+ 12%
(+13% excluding FX)
19.0%
+40 bps *19.4%
*
* Adjusted EBITDA Margin %
2 0 2 4 G U I D A N C E
FY 20 24 GUIDA NC E
Previous (Aug 6) Current
Adjusted EPS $2.55 to $2.70 $2.63 to $2.67
Adjusted EBITDA $515 to $540 million $525 to $530 million
Interest Expense $105 million $104 million
Adjusted Effective Tax Rate 23% to 25% 23% to 25%
Capital Expenditures &
Investment in S/4 Hana
~$140 million ~$140 million
13
14
• Investor Day to be held December 4, 2024 at
the NYSE, beginning at 10AM
• The focus will be to do a deep dive on the
Company’s strategy
• Registration available at
www.avient.com/investors
20 24 AVI ENT INVESTOR DAY
A P P E N D I X
17
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 MATERI AL BA SKET
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%
19
(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
20
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
15%
Transportation
9%
Building &
Construction
10%
Telecommunications
1% Energy
2%
COLOR , AD DI TI VES & 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%
21
Packaging
5%
Consumer
16%
Healthcare
6%Industrial
16%
Transportation
12%
Telecommunications
9%
Energy
10% Defense
18%
Building &
Construction
8%
END MARKET REGION
SPEC IA LTY ENGI NEER ED MATERI ALS
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%
22
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.