https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.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 time required to consummate the acquisition of the Dyneema business, the satisfaction or waiver of conditions in the purchase agreement, the ability to obtain required regulatory or other third-party approvals and consents and
otherwise consummate the proposed acquisition of the Dyneema business;
• Our ability to achieve the strategic and other objectives relating to the proposed acquisition of the Dyneema business and possible sale of the Distribution business;
• 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;
• The current and potential future impact of the COVID-19 pandemic on our business, results of operations, financial position or cash flows, including without any limitation, any supply chain and logistics issues;
• Changes in polymer consumption growth rates and laws and regulations regarding plastics in jurisdictions where we conduct business;
• 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;
• 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; and
• Other factors described in our Annual Report on Form 10-K for the year ended December 31, 2021 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.
Purchase price multiple rapidly declining on strength of
business and synergy capture
(1)
(1)
(1) Financial information is pro forma to include a full year of Clariant Color acquisition
($ in millions)
11.9%
16.2%
2019PF 2021
EBITDA Margins
(1)
S P E C I A LT Y T R A N S F O R M AT I O N
7%
46%
66%
86%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2021 2022 PF
%
o
f A
dj
us
te
d
E
B
IT
D
A
(1
)
JVs Distribution Performance Products & Solutions Specialty
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution
(2)
29
12%
18%
16% 15% 15% 14% 14%
28% 28%
26%
25%
22% 21% 19%
16%
12%
9% 9%
A
vi
en
t T
od
ay
A
vi
en
t P
F
A
V
Y
P
P
G
K
W
R
FU
L
R
P
M C
E
A
LB
FM
C
A
S
H
E
C
L
E
M
N
H
X
L
H
U
N
S
C
L
B
N
R
U
N
V
R
Median: 21%Median: 15%
2 0 2 2 E B I T DA M A RG I N S V S .
https://www.avient.com/sites/default/files/resources/Innovation%2520Day%2520-%2520May%25202014.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.
Patterson President and Chief
Executive Officer
Kurt Schuering Vice President, Global Key
Account Management
Bradley C Richardson Executive Vice President
and Chief Financial
Officer
Cathy K.
Kedrowski Executive Vice President
Global Operations and
Process Improvement
Lisa K.
https://www.avient.com/sites/default/files/2024-08/Avient-2023-Sustainability-Report_6.pdf
More information regarding risks is available in our Annual
Report on Form 10-K.
Does not include renewable energ y credits from Vir tual Power Purchase Agreements
(3) Increase due to capture of all relevant Scope 3 data from APM acquisition
(4) Cer tificates can be found at https://www.avient.com/company/policies-and-governance/global-iso-cer tificate-librar y
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Per formance | Metrics | Index Sustainability Report | 2023 78
https://www.avient.com/company/sustainability/sustainability-report/reporting/cdp-climate-change-report
https://www.avient.com/company/policies-and-governance/global-iso-certificate-library
INDEX
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Per formance | Metrics | Index Sustainability Report | 2023 79
GRI Standards Content Index
GRI Standard Disclosure Title Avient Disclosures
General Disclosures
Organizational Profile
102–1 Name of the organization About Us—Who We Are
102–2 Activities, brands, products, and ser vices
Avient Technologies—Products
Avient products are not banned in any market
102–3 Location of headquarters Avient 2023 Annual Report—Form 10-K Cover Page
102–4 Location of operations
Where We Are: Global Locations Page 14
Avient 2023 Annual Report—Form 10-K Page 13
102–5 Ownership and legal form Avient 2023 Annual Report—Form 10-K Cover Page
102–6 Markets ser ved
About Us—Avient’s Support for Communities and Customers Page 15
Avient 2023 Annual Report—Form 10-K Page 13
102–7 Scale of the organization Avient 2023 Annual Report—Form 10-K Pages 2–7, 38–39
102–8 Information on employees and other workers
Avient 2023 Annual Report—Form 10-K Page 5
People—Workforce Demographics Page 28
Currently we report on the number of associates.
Performance—The Highest Ethical Standards; Ethics Hotline; Enterprise Risk Management Pages 68, 69, 70
Avient 2023 Annual Report—Form 10-K Pages 8–15
Operational Safety, Emergency Preparedness & Response
Process Safety Incidents Count (PSIC), Process Safety Total Incident
Rate (PSTIR), and Process Safety Incident Severity Rate (PSISR)
RT-CH-540a.1
1.
https://www.avient.com/sites/default/files/2021-09/avient2020sustainabilityreport-9-2-21.pdf
The company’s 10-K now has increased transparency and disclosures on human capital
matters as well.
More information regarding
risks is available in our Annual Report on Form 10-K.
Revised 29-Apr-2021
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Metrics | Index
Sustainability Report | 2020 85
https://www.avient.com/sites/default/files/2021-03/2020-climate-change-avient-score-card.pdf
I N D E X
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Metrics | Index
Sustainability Report | 2020 86
GRI Standard Disclosure Title Avient Disclosures
General Disclosures
Organizational Profile
102–1 Name of the organization About Us—Who We Are
102–2 Activities, brands, products, and ser vices
Products—All Sections
Avient products are not banned in any market.
102–3 Location of headquarters
About Us—Historic Transformation, Inspired Future
About Us—Where We Are: Global Locations
Avient 2020 Annual Report—Form 10-K Cover Page
102–4 Location of operations
About Us—Where We Are: Global Locations
Avient 2020 Annual Report—Form 10-K Page 14
102–5 Ownership and legal form Avient 2020 Annual Report—Form 10-K Cover Page
102–6 Markets ser ved About Us—Communities Counting on Avient
102–7 Scale of the organization
Performance—Performance Overview
Avient 2020 Annual Report—Form 10-K Pages 2–10
102–8 Information on employees and other workers
People—All Sections
Avient 2020 Annual Report—Form 10-K Pages 4–5
Currently we report on the number of associates.
https://www.avient.com/sites/default/files/2022-04/Avient Announces Agreement to Acquire Dyneema_0.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.
5
Non-GAAP Financial Measures
The Company uses both GAAP (generally accepted accounting principles) and non-GAAP
financial measures.
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Presentation_For_Website_w_non-GAAP_5_6_1.pdf
For the same reasons, Avient is unable to address the probable significance of the unavailable information.
2
O P E N I N G R E M A R K S
4
REGIONAL DEMAND TRENDS-TOTAL COMPANY
Q 1 S A L E S V S P Y ( E X C L U D I N G F X )
4
US & Canada
Latin America
EMEA
Asia
+2%
-6%
Flat
+2%
Avient ex.
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.
https://www.avient.com/sites/default/files/2021-04/avient-colorants-netherlands-b.v.-extract-coc-apr-12-2021.pdf
Visiting address Stationsplein 8 K, 6221BT Maastricht
Telephone number +31437999376
Fax number +31437999333
Internet address www.clariant.com
Date of incorporation 11-04-2006
Activities SBI-code: 46751 - Wholesale of basic and industrial chemicals
For further information on activities, see Dutch extract.
https://www.avient.com/sites/default/files/2020-10/avient-design-impact-protection-project.pdf
IMPACT
PROTECTION
D E S I G N A N D M A T E R I A L S O L U T I O N S
Avient Corporation 1
PROJECT KICK OFF
B R I E F
Application: Protective sports equipment
Challenge: Provide functional material to protect
against impact for chest protector
Requirements:
• Compact - reduce thickness and weight for
improved comfort and functionality
• Meet EN standards
• EN1621-1 level 2 & EN1621-2 level 1
• Eliminate the use of foam and glue
• Be waterproof and easy to clean
• Sustainable
• Easy to prototype & considers manufacturing
efficiency
Avient Corporation 2
VIBRATION DAMPING TECHNOLOGY (VDT)
H O W D O E S I T W O R K ?
https://www.avient.com/products/thermoplastic-elastomers/tpe-knowledge-center/technical-bulletins/specific-gravity
For example, using GLS product XL9070 (SpGr of 0.89) and GLS product G7970 (SpGr of 1.18), both 70A TPEs, the mass of the part in grams is calculated as follows:
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
Garratt $276,231 195.0% $538,650
Lisa K.
Garratt 20,000 52,542
Lisa K.
Garratt 538,650 196,250
Lisa K.