https://www.avient.com/sites/default/files/2022-09/Avient Pro Forma Financial Information.pdf
AVIENT CORPORATION
P R O F O R M A F I N A N C I A L S F O R D Y N E E M A
A C Q U I S I T I O N A N D D I S T R I B U T I O N A S
D I S C O N T I N U E D O P E R A T I O N S
(NYSE: AVNT)
S E P T E M B E R 2 7 , 2 0 2 2
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.
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$
COLOR, ADDITIVES AND INKS
7% (4%) (9%)
6% (10%)
0% 1%
2%
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
10%
4
(1%)
PRO FORMA SPECIALTY ENGINEERED MATERIALS
16%8% (8%) (8%) 3% (6%) (6%)
(2%) 2%
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
10% (3%) (21%)
3%
9% 5%
7% (5%) (9%)
(1%)
(1%) (12%)
1%
17% 8% (14%)
11%
14% 10%
11% 2% (3%)
5%
8% (5%)
7%
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
March 31, 2022
March 31, 2021
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
June 30, 2022
June 30, 2021
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
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
December 31, 2021
Year Ended
December 31, 2021
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
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
Q1 2021 Q2 2021 Q3 2021
Pro
forma
Pro
forma
Pro
forma
Pro
forma
Pro
forma
Pro
forma
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
Q4 2021 YTD 2021
Pro
forma
Pro
forma
Pro
forma
Pro
forma
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
Q1 2022 Q2 2022
Pro
forma
Pro
forma
Pro
forma
Pro
forma
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
Q1 2021 Q2 2021 Q3 2021
Pro
forma
Pro
forma
Pro
forma
Pro
forma
Pro
forma
Pro
forma
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
Q4 2021 YTD 2021
Pro
forma
Pro
forma
Pro
forma
Pro
forma
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
Q1 2022 Q2 2022
Pro
forma
Pro
forma
Pro
forma
Pro
forma
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
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
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/sites/default/files/2024-08/Avient Q2 2024 Earnings Call Presentation.pdf
IR Deck - AVNT-2024.06.30 (Earnings)
AVIENT CORPORATION
S E C O N D Q U A R T E R 2 0 2 4 R E S U L T S A N D
2 0 2 4 F I N A N C I A L G U I D A N C E
(NYSE: AVNT)
AU G U S T 6 , 2 0 2 4
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.
For the same reasons, Avient is unable to address the probable significance of the unavailable information.
2
3
Q2 2024 HIGHLIGHTS
• 5% organic sales growth supported by
broad-based growth across all regions
in both CAI and SEM segments
• Growth stemmed from gaining share,
winning new product specifications
and restocking in certain end markets
• Cost control and operational
discipline expanded EBITDA margins
by 100 bps
• EPS exceeded guidance by $0.05
and increased 21% vs the prior year
Adj.
EPS
+21%
$143 million
+9%
$143 million
+9%
Net Sales
$850 million
+3%
(+5% ex FX)
Net Sales
$850 million
+3%
(+5% ex FX)
Margin
16.9%
+100 bps
Margin
16.9%
+100 bps
Q 2 2024 R ES U LT S
Q2 2024 PERFORMANCE VS.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for South Africa.pdf
Furthermore, the parties agree that
Seller’s performance under these Terms shall not be an acceptance
of any of Buyer’s terms and conditions.
2.
If a present or future law, governmental
decree, order, regulation, or ruling under any existing or future
legislation prevents Seller from increasing or revising the price as
provided herein, or nullifies or reduces any price or price increase
hereunder, upon written notice from one to the other, Seller and
Buyer will attempt to identify mutually agreeable changes to
conform these Terms with such law, decree, order, regulation, or
ruling.
Department of the Treasury’s Office of Foreign Assets
Control, Customs and Excise Act 91 of 1964; the Promotion to
Administrative Justice Act 3 of 2000; the Promotion to Access to
Information Act 2 of 2000 and the International Trade
Administration Act 71 of 2002 ("Trade Control Laws").
https://www.avient.com/sites/default/files/2022-01/Avient S.à r.l._extract CoC_2021.12.27.pdf
titel
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Business Register extract
Netherlands Chamber of Commerce
CCI number 72287497
Page 1 (of 2)
Legal entity
RSIN 859060317
Legal form Foreign Legal Entity: Société à Responsabilité Limitée (S.A.R.L.)
The Chamber of Commerce recommends that this document be viewed in digital form so that its
integrity is safeguarded and the signature remains verifiable.
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Name Potoczny, Zaneta Gabriela
Date of birth 17-10-1974
Date of entry into office 27-02-2019 (registration date: 12-08-2019)
Name Merklein, Norbert
Date of birth 03-05-1964
Date of entry into office 18-01-2021 (registration date: 29-10-2021)
Authorised representative
Name Van den Brande, Philip Theophiel Anna
Date of birth 13-08-1974
Date of entry into office 24-07-2018
Title Branch Manager
Contents of power of
attorney
There are other restrictions.
Business Register extract
Netherlands Chamber of Commerce
CCI number 72287497
Page 2 (of 2)
N/A
2021-12-27T11:24:54+0100
Utrecht
Kamer van Koophandel
Dit document is digitaal ondertekend
2021-12-27T11:24:55+0100