https://www.avient.com/news/avient-develops-new-dairy-packaging-additive-technology-meet-tio2-restrictions
This latest Lactra technology offers brand owners and PET packaging converters the ability to achieve over 99.9 percent light blocking in monolayer PET, with high levels of whiteness (L* of up to 94) but with less than 1 weight percent TiO2 and less than 4 weight percent inorganic content.
About Avient
Avient Corporation (NYSE: AVNT), with 2019 pro forma revenues of $4 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.
Michelle Maniscalco
Senior Manager, Marketing Communications
Avient Corporation
+1 440-930-1988
michelle.maniscalco@avient.com
https://www.avient.com/center-of-excellence/avient-asia
Survey No.344/1-3 Sakarda Bhadarwa Road
Gatot Subroto KM. 4 Jalan Kalisabi No. 1 Building 37, Kel.
4 Rothwell Avenue Albany Industrial Estate
https://www.avient.com/sites/default/files/2022-09/Avient Pro Forma Financial Information.pdf
Pro Forma Financial Information
The Company acquired Avient Protective Materials (“Dyneema”) on September 1, 2022 (the “Acquisition Date”) and has a pending sale of the Distribution segment.
To provide comparable results, the company references “pro forma” financial metrics,
which include the business results of Avient Protective Materials for periods prior to the Acquisition Date, as if the transaction occurred on January 1, 2021 and reflect Distribution as a discontinued operation.
Additionally, Adjusted EPS excludes the impact of special
items and amortization expense associated with intangible assets.
2
PRO FORMA 2021 TO 2022 BRIDGE
3
2021 EPS from Continuing Operations 1.69$
Pro Forma & Special Items 1.33
Proforma 2021 Adjusted EPS 3.02$
FX Impact (0.22)
China Lockdowns / Russia Import Sales (0.24)
Outdoor High Performance (0.13)
Dyneema 0.06
Color, Additives and Inks 0.38
Legacy Specialty Engineered Materials 0.22
Other 0.01
Proforma 2022 Adjusted EPS 3.10$
Constant Currency Sales
Sales
COLOR, ADDITIVES AND INKS
Q1 Q2 Q3 Q4 FY
4%
Q1 Q2 Q3 Q4 FY
4%
7% (4%) (9%)
6% (10%)
0% 1%
2%
Constant currency reflects prior year results restated at current year foreign exchange rates
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY
7%
10% 4% (3%)
12% (6%)
5% 6%
9%
610 650 624 649 587 565 581 526
2,402 2,390
589 650 589 649 543 565 545 526
2,266 2,390
116 121 112 119 93 95 88 79
409 414
113 121 106 119 87 95 84 79
390 414
Constant Currency EBITDA
EBITDA
10%
4
Constant Currency EBITDA
Sales
Q1 Q2 Q3 Q4 FY
(1%)
PRO FORMA SPECIALTY ENGINEERED MATERIALS
Q1 Q2 Q3 Q4 FY
16%8% (8%) (8%)
3% (6%) (6%)
(2%) 2%
EBITDA
Constant Currency Sales
Constant currency reflects prior year results restated at current year foreign exchange rates
Q1 Q2 Q3 Q4 FY
4%
Q1 Q2 Q3 Q4 FY
20%12% (1%) (2%)
5% (1%) (2%)
3% 6%
314 338 348 343 325 300 321 295
1,308 1,276
303 338 329 343 303 300 301 295
1,236 1,276
67 78 75 77 70 66 66 62
278 283
65 78 73 77 67 66 63 62
268 283
5
Constant Currency Adjusted EPS
Adjusted EPS
PRO FORMA AVIENT
Q1 Q2 Q3 Q4 FY
10% (3%) (21%)
3%
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY
9% 5%
7% (5%) (9%)
(1%)
(1%) (12%)
1%
Sales
Constant Currency Sales
Constant currency reflects prior year results restated at current year foreign exchange rates
Q1 Q2 Q3 Q4 FY
17% 8% (14%)
11%
Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY
14% 10%
11% 2% (3%)
5%
8% (5%)
7%
EBITDA
Constant Currency EBITDA
925 987 973 992 912 867 902 823
3,712 3,669
893 987 919 992 847 867 845 823
3,504 3,669
161 176 164 172 142 141 133 117
600 606
155 176 157 172 131 141 123 117
566 6068%
2%
0.84 0.98 0.87 0.96 0.70 0.68 0.61 0.48
3.02 3.10
0.79 0.98 0.82 0.96 0.63 0.68 0.56 0.48
2.80 3.10
17%
24%
6
Three Months Ended
March 31, 2022
Three Months Ended
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS
Net income from continuing operations $ 64.7 $ 60.4
Net income attributable to noncontrolling interests (0.3) (0.4)
Net income from continuing operations attributable to Avient shareholders $ 64.4 $ 0.70 $ 60.0 $ 0.65
Special items, after tax $ 6.4 $ 0.07 $ 2.6 $ 0.03
APM pro forma adjustments 2.6 0.03 (3.1) (0.03)
Amortization expense, after tax 17.4 0.19 17.9 0.19
Adjusted pro forma net income / EPS $ 90.8 $ 0.98 $ 77.4 $ 0.84
Weighted average diluted shares 92.3 92.2
Three Months Ended
June 30, 2022
Three Months Ended
June 30, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS
Net income from continuing operations $ 62.8 $ 50.2
Net income attributable to noncontrolling interests — (0.6)
Net income from continuing operations attributable to Avient shareholders $ 62.8 $ 0.68 $ 49.6 $ 0.54
Special items, after tax $ 3.2 $ 0.03 $ 11.7 $ 0.13
APM pro forma adjustments 5.2 0.06 1.4 0.02
Amortization expense, after tax 17.2 0.19 17.8 0.19
Adjusted pro forma net income / EPS $ 88.4 $ 0.96 $ 80.5 $ 0.87
Weighted average diluted shares 92.1 92.4
Three Months Ended
September 30, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS
Net income from continuing operations $ 33.4
Net income attributable to noncontrolling interests 0.3
Net income from continuing operations attributable to Avient shareholders $ 33.7 $ 0.37
Special items, after tax $ 11.7 $ 0.13
APM pro forma adjustments 1.5 0.02
Amortization expense, after tax 17.6 0.19
Adjusted pro forma net income / EPS $ 64.5 $ 0.70
Weighted average diluted shares 92.2
Adjusted EPS may not recalculate due to rounding.
1
Three Months Ended
December 31, 2021
Year Ended
December 31, 2021
Reconciliation to Condensed Consolidated Statements of Income Avient EPS Avient EPS
Net income from continuing operations $ 11.2 $ 155.2
Net income attributable to noncontrolling interests 0.9 0.2
Net income from continuing operations attributable to Avient shareholders $ 12.1 $ 0.13 $ 155.4 $ 1.69
Special items, after tax $ 24.0 $ 0.26 $ 50.0 $ 0.54
APM pro forma adjustments 2.5 0.03 1.6 0.02
Amortization expense, after tax 17.8 0.19 71.1 0.77
Adjusted pro forma net income / EPS $ 56.4 $ 0.61 $ 278.1 $ 3.02
Weighted average diluted shares 92.4 92.1
Reconciliation of Color, Additives and Inks EBITDA
Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022
Operating
Income 88.8 86.3 66.8 61.2 303.1 94.5 93.6
Depreciation and
amortization 27.4 25.3 26.6 26.4 105.7 26.0 25.9
EBITDA $ 116.2 $ 111.6 $ 93.4 $ 87.6 $ 408.8 $ 120.5 $ 119.5
Reconciliation of Specialty Engineered Materials EBITDA
Q1 2021 Q2 2021 Q3 2021
SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM
Operating Income 32.6 9.1 41.7 35.8 13.9 49.7 30.0 15.2 45.2
Depreciation and
amortization 7.8 17.5 25.3 8.1 17.3 25.4 7.9 17.1 25.0
EBITDA $ 40.4 $ 26.6 $ 67.0 $ 43.9 $ 31.2 $ 75.1 $ 37.9 $ 32.3 $ 70.2
Reconciliation of Specialty Engineered Materials EBITDA
Q4 2021 YTD 2021
SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM
Operating Income 27.1 11.7 38.8 125.5 49.9 175.4
Depreciation and amortization 8.0 18.9 26.9 31.8 70.8 102.6
EBITDA $ 35.1 $ 30.6 $ 65.7 $ 157.3 $ 120.7 $ 278.0
2
Reconciliation of Specialty Engineered Materials EBITDA
Q1 2022 Q2 2022
SEM
Pro
forma
APM
Pro
forma
SEM SEM
Pro
forma
APM
Pro
forma
SEM
Operating Income 38.3 15.4 53.7 35.2 17.7 52.9
Depreciation and amortization 7.8 16.6 24.4 7.7 16.6 24.3
EBITDA $ 46.1 $ 32.0 $ 78.1 $ 42.9 $ 34.3 $ 77.2
Reconciliation of Avient consolidated pro forma EBITDA
Q1 2021 Q2 2021 Q3 2021
Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient
Net income from
continuing operations 60.4 (3.1) 57.3 50.2 1.4 51.6 33.4 1.5 34.9
Income tax expense 16.3 1.1 17.4 13.8 1.3 15.1 2.0 2.5 4.5
Interest expense 19.3 11.1 30.4 19.5 11.2 30.7 19.0 11.2 30.2
Depreciation and
amortization 36.9 17.5 54.4 33.6 17.3 50.9 36.6 17.1 53.7
EBITDA 132.9 26.6 159.5 117.1 31.2 148.3 91.0 32.3 123.3
Special items, before
tax 2.4 — 2.4 14.2 — 14.2 19.9 — 19.9
Depreciation included
in special items (0.6) — (0.6) 1.4 — 1.4 (0.9) — (0.9)
Adjusted EBITDA $ 134.7 $ 26.6 $ 161.3 $ 132.7 $ 31.2 $ 163.9 $ 110.0 $ 32.3 $ 142.3
Reconciliation of Avient consolidated pro forma EBITDA
Q4 2021 YTD 2021
Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient
Net income from continuing operations 11.2 2.5 13.7 155.2 1.6 156.8
Income tax expense 16.2 (1.9) 14.3 48.3 3.7 52.0
Interest expense 17.5 11.1 28.6 75.3 44.6 119.9
Depreciation and amortization 37.9 18.9 56.8 145.0 70.8 215.8
EBITDA 82.8 30.6 113.4 423.8 120.7 544.5
Special items, before tax 20.6 — 20.6 57.1 — 57.1
Depreciation included in special items (1.6) — (1.6) (1.7) — (1.7)
Adjusted EBITDA $ 101.8 $ 30.6 $ 132.4 $ 479.2 $ 120.7 $ 599.9
3
Reconciliation of Avient consolidated pro forma EBITDA
Q1 2022 Q2 2022
Avient
Pro
forma
APM
Pro
forma
Avient Avient
Pro
forma
APM
Pro
forma
Avient
Net income from continuing operations 64.7 2.6 67.3 62.8 5.2 68.0
Income tax expense 20.0 1.7 21.7 22.7 1.4 24.1
Interest expense 16.9 11.1 28.0 16.2 11.1 27.3
Depreciation and amortization 37.6 16.6 54.2 36.3 16.6 52.9
EBITDA 139.2 32.0 171.2 138.0 34.3 172.3
Special items, before tax 6.6 — 6.6 0.9 — 0.9
Depreciation included in special items (2.1) — (2.1) (1.1) — (1.1)
Adjusted EBITDA $ 143.7 $ 32.0 $ 175.7 $ 137.8 $ 34.3 $ 172.1
Reconciliation of Specialty Engineered Pro Forma Sales
Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022
Sales 214.7 238.9 231.7 226.3 911.6 243.1 242.3
Pro forma APM 98.9 108.8 93.8 94.9 396.4 94.8 100.5
Pro forma sales $ 313.6 $ 347.7 $ 325.5 $ 321.2 $ 1,308.0 $ 337.9 $ 342.8
Reconciliation of Avient Pro Forma Sales
Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2021 Q1 2022 Q2 2022
Sales 826.0 864.5 818.0 807.1 3,315.6 892.2 891.0
Pro forma APM 98.9 108.8 93.8 94.9 396.4 94.8 100.5
Pro forma sales $ 924.9 $ 973.3 $ 911.8 $ 902.0 $ 3,712.0 $ 987.0 $ 991.5
4
IR Slides
V17 - 9.26 324pm IR Deck - AVNT-2022.09.27 Pre Release v2
https://www.avient.com/top-10-best-practices-when-printing-polyester
3.
4.
Off Contact Settings: Auto -1/16” (1 ½ mm), Manual -1/8” (3 mm)
https://www.avient.com/sites/default/files/2024-03/Edgetek PKE Glass-Filled Product Bulletin.pdf
Density
Impact
Flexural
Modulus
(Dry)
Tensile
Strength
(Dry)
HDT
Equilibrium
Moisture
— PKE-GF PA12-GF PA612-GF
5
4
3
2
1
0
Impact
Shrink
Flexural
Modulus
(Dry)
Chemical
Resistance
Flexural
Modulus
(Cond.)
CO2
Emission
Factor
— PKE-GF — PA6-GF — PA66-GF
HDT
Wear
Density
5
4
3
2
1
0
Equilibrium
Moisture
1: Poor 3: Good 5: Excellent
https://www.avient.com/sites/default/files/resources/PolyOne%25202017%2520Proxy%2520Statement.PDF
Each performance unit is equal
78,620 (2) 1,048,269 (2) 2,096,538 (2) -
118,125 (3) 945,000 (3) 1,890,000 (3) -
2/10/2016 35,067 105,200 (4) 871,757
2/10/2016 34,750 (5) 868,055
27,244 (2) 363,250 (2) 726,500 (2) -
28,250 (3) 226,000 (3) 452,000 (3) -
2/10/2016 8,383 25,150 (4) 208,410
2/10/2016 8,300 (5) 207,334
18,578 (2) 247,712 (2) 495,424 (2) -
16,875 (3) 135,000 (3) 270,000 (3) -
2/10/2016 5,000 15,000 (4) 124,300
2/10/2016 4,950 (5) 123,651
16,357 (2) 218,096 (2) 436,192 (2) -
14,500 (3) 116,000 (3) 232,000 (3) -
2/10/2016 4,300 12,900 (4) 106,898
2/10/2016 4,250 (5) 106,165
16,849 (2) 224,654 (2) 449,308 (2) -
15,250 (3) 122,000 (3) 244,000 (3) -
2/10/2016 4,517 13,550 (4) 112,284
2/10/2016 4,500 (5) 112,410
S.D.
B-4
(x) “Perforff mance Share” means a bookkeeping entry that records the equivalent of
one Common Share awarded pursuant to Section 8 of this Plan.
B-7
4.
https://www.avient.com/sites/default/files/2023-01/Trilliant HC GF Polyketone _PK_ Product Bulletin.pdf
PRODUCT BULLETIN
PROPERTY COMPARISON
TRILLIANT HC VS NYLON
Density
Impact
Flexural
Modulus
(Dry)
Tensile
Strength
(Dry)
HDT
Equilibrium
Moisture
— PKE-GF PA12-GF PA612-GF
5
4
3
2
1
0
Impact
Shrink
Flexural
Modulus
(Dry)
Chemical
Resistance
Flexural
Modulus
(Cond.)
CO2
Emission
Factor
— Trilliant HC — PA6-GF — PA66-GF
HDT
Wear
Density
5
4
3
2
1
0
Equilibrium
Moisture
1: Poor 3: Good 5: Excellent
Density
Impact
Flexural
Modulus
(Dry)
Tensile
Strength
(Dry)
HDT
Equilibrium
Moisture
— PKE-GF PA12-GF PA612-GF
5
4
3
2
1
0
Impact
Shrink
Flexural
Modulus
(Dry)
Chemical
Resistance
Flexural
Modulus
(Cond.)
CO2
Emission
Factor
— Trilliant HC — PA6-GF — PA66-GF
HDT
Wear
Density
5
4
3
2
1
0
Equilibrium
Moisture
1: Poor 3: Good 5: Excellent
1.844.4AVIENT
www.avient.com
Copyright © 2023, Avient Corporation.
https://www.avient.com/resources/safety-data-sheets?page=1846
X TR1-20TA/000 NATURAL
X PP-15424-02-4
Shipment Notification - under "Material Header" MSDS - labeled as the "Product Number" (in Section 1)
https://www.avient.com/resources/safety-data-sheets?page=5911
X ET SR-32371 Nat Base
X ET SR-32371 Tan Conc 4%
Shipment Notification - under "Material Header" MSDS - labeled as the "Product Number" (in Section 1)
https://www.avient.com/resources/safety-data-sheets?page=3190
PURPLE (09) BLEACHER SEAT - 4
X HC #SR-07075 White CC
X ET 0000108324#SR-03851 Green 802C