https://www.avient.com/sites/default/files/2024-11/SEM Selection Guide.pdf
NAME BASE RESIN(S) TARGET MARKETS/ APPLICATIONS AVAILABLE FEATURES
1
Artisan™
Pre-Colored
Thermoplastics
ABS, PA
Powersports,
Lawn & Garden, Marine,
Electronics,
Home Appliances,
Cosmetic Packaging
Customizable pre-color solutions
Scratch & mar resistance
Weatherability & UV resistance
High impact resistance
Chemical resistance
Simplifies processing/replaces paint
Tailored temperature performance range: -20°C to 105°C
Bergadur™ Polyester
Formulations
PBT
Transportation, Consumer,
Industrial
High strength
Good creep rupture strength
Good chemical and heat resistance
Low friction and good abrasion resistance
Complēt™ Long Fiber
Reinforced Structural
Thermoplastics/
OnForce™ Long
Glass Fiber Reinforced
Polypropylene Composites
PA, PK, PP, PPA, PPS,
TPU
Consumer,
Transportation, Industrial
Long fiber technology
Elevated impact and mechanical properties at
room temperature
Increased performance at temperature extremes
Excellent creep and fatigue resistance
Glass and carbon fiber filled options
Lubricated, fire retardant, and pre-colored options
PK-based formulations offer reduced carbon footprint
as a result of the base resin
Recycled grades formulated with up to 100% post-
industrial recycled (PIR) or post-consumer recycled
(PCR) content
Edgetek™ Engineered
Polymer Formulations
ABS, LCP, PA, PC, PC/
ABS, PC/PBT, PC/PET,
PC/PSU, PEEK, PES,
PEI, POM, PPA, PPS,
PSU
Transportation,
Consumer, Industrial,
Telecommunications,
Electrical & Electronics
Strength and durability
Chemical and temperature resistance
High impact resistance
Weatherability
Flame retardant grades: UL 94 V-0, V-1, V-2, and 5VA
Low-density grades for weight reduction
5G properties – customizable Dk/Df and 3D/LDS
solutions
Edgetek™ REC PC
Recycled Polycarbonate
Solutions
PC
Electrical & Electronics,
Consumer Goods,
Transportation
Contain 25–70% PIR or PCR content
Comparable performance to prime PC formulations
Edgetek™ PKE
Polyketone
Formulations
PK
Electrical & Electronics,
Industrial, Consumer,
Transportation
Excellent chemical resistance
Good strength, durability and dimensional stability
Pre-colored formulations
Non-halogen, flame retardant performance
to UL 94 V-0
Reduced carbon footprint compared to PA6 and PA66
1 See technical data sheets for complete product details
SPECIALTY ENGINEERED THERMOPLASTICS
NAME BASE RESIN(S) TARGET MARKETS/ APPLICATIONS AVAILABLE FEATURES
1
Gravi-Tech™ Density
Modified Formulations PA, TPU, TPE, PBT
Consumer,
Transportation, Industrial
Customized density, from 1.5 to 11 gm/cm3
Broad modulus and strength: flexible to rigid
Chemical and corrosion resistance
Alternative to lead and other traditional dense metals
Suitable for metallization and electroplating
Low-shrinkage grades available
Gravi-Tech™ BIO
Bio-based Formulations Bio-based PP
Cosmetic Caps &
Closures, Perfume Caps,
Spirit Bottle Caps,
Luxury Boxes,
Handles & Knobs
Customized density, from 1.5 to 11 gm/cm3
Formulated with partially bio-based resin from
renewable plant sources
Achieve equivalent performance to prime density
modified solutions
Gravi-Tech™ REC Recycled
Formulations rPP, rABS, rPA
Cosmetic Caps &
Closures, Perfume Caps,
Spirit Bottle Caps,
Luxury Boxes,
Handles & Knobs
Customized density, from 1.5 to 11 gm/cm3
Based on recycled resin and/or filler from
PIR and/or PCR sources
Achieve equivalent performance to prime density
modified solutions
LubriOne™ Internally
Lubricated Formulations/
LubriOne™ PKE Polyketone
Formulations
PA, PBT, PC, PEEK,
PEI, PK, POM, PP, PPA,
PPS, PS
Transportation,
Electrical & Electronics,
Industrial
Low coefficient of friction
Self-lubricating
Chemical, wear, and corrosion resistance
PK-based formulations can offer a reduced carbon
footprint compared to PA6, PA66 and POM
Grades avoiding the use of fluorinated lubricants such
as PTFE are available
Maxxam™
Polyolefin Formulations PP
Consumer, Transportation,
Electrical & Electronics,
Industrial
Homopolymer and co-polymer grades
Optional additives: UV, heat stabilizers
Standard grades available in natural and black
Maxxam™ BIO
Bio-Based Polyolefin
Formulations
P P
Consumer, Transportation,
Electrical & Electronics,
Industrial
Formulated with 10–50% bio-content including
bio-based resin and/or filler
Bio-filler from sources including olive seed powder,
recycled coffee grounds, cellulose fiber
Achieves equivalent performance to standard
polyolefin formulations
Maxxam™ FR Flame
Retardant Polyolefin
Formulations
PE, PP
Consumer, Transportation,
Electrical & Electronics,
Industrial, Energy
Flame retardant grades: UL 94 V-0, V-1, V-2, and 5VA
Elevated UL RTI ratings
Halogen-free flame retardant grades available
Maxxam™ REC
Recycled Polyolefin
Formulations
PP
Consumer, Transportation,
Electrical & Electronics,
Industrial
Formulated with 25–100% recycled resin from
PIR and PCR sources
Achieves equivalent performance to standard
polyolefin formulations
Nymax™/Bergamid™
Polymer Formulations
PA 6, 66, 612, 12,
co-polymers
Transportation,
Building & Construction,
Electrical & Electronics
Toughened grades: medium and high impact
Optional additives: heat stabilized, lubricated, impact
modified, nucleated
Standard grades available in natural and black
Pre-colored solutions available
Nymax™ BIO Bio-based
Polyamide Solutions Bio-based PA
Transportation,
Consumer Goods,
Industrial,
Building & Construction
Formulated with 16–47% natural filler, reducing
the carbon footprint
Excellent surface appearance and colorability
Lower warpage compared with PA66 glass
fiber-filled materials
Equivalent performance to PA66 glass
fiber-filled materials
Excellent dimensional stability and property retention
rate after water uptake
Nymax™ REC Recycled
Nylon Formulations PA6, PA66
Transportation, Consumer,
Household Appliances,
Electrical & Electronics,
Industrial
Contains 20–100% recycled content
PIR and PCR grades available
Support the circular economy
Comparable performance to prime grades
Super tough formulations available
Customizable solution
NAME BASE RESIN(S) AVAILABLE FEATURES1
NEUSoft™ Thermoplastic
Polyurethanes and
NEU™ Custom Capabilities
PEBA, TPU, PA 11,
PA 12, PP, PE, TPE
Radiopacifiers, stabilizers, and surface modifiers
Antimicrobial technologies
Pre-colored formulations
Small lot capabilities
Short lead times
Trilliant™ HC Healthcare
Thermoplastics
ABS, LCP, PA, PA 6,
PA 66, PC, PC/ABS,
PC/PSU, PEBA, PEEK,
PES, PK, POM, PPA,
PSU
Certified to USP Class VI
Formulations locked down
Drug master file submissions by product stewardship
Pre-colored, small lot production down to 50 lb–250 lb
Sterilization, chemical resistance, and secondary process guidance
Adherence to FDM-GMP manufacturing standards
Antimicrobial technologies
Materials for radiation shielding protection
PK-based formulations offer reduced carbon footprint as a result of the base resin
Versaflex™ HC
Thermoplastic Elastomers
TPE
Overmolding
Clear and heat resistant
Ultra clear grades
Ultra soft TPE gels, 30 Shore OO
FDA, USP Class VI, ISO 10993 approved grades
Sterilizable under autoclave, radiation, and EtO gas
Extrusion, injection, and blow moldable
Bio-based formulations available
HEALTHCARE SPECIALTY FORMULATIONS
1 See technical data sheets for complete product details
SPECIALTY ENGINEERED THERMOPLASTICS
NAME BASE RESIN(S) TARGET MARKETS/ APPLICATIONS AVAILABLE FEATURES
1
PREPERM™
Low-Loss Dielectric
Thermoplastics
PPE, PBT, ABS, PP Telecommunications, Transportation
Stable and controlled dielectric performance
Ultra-low transmission loss at mmWave frequencies
up to 220 GHz
Dielectric constant (Dk) range spanning 2.55 to 23
Stat-Tech™
Static Dissipative
& Electrically Conductive
Formulations
ABS, PA, PC, PC/ABS,
PC/PSU, PEEK, PEI,
PES, PP, PPA
Transportation,
Electrical & Electronics
Integrated EMI/RFI shielding
Conductive properties
Anti-static/dissipative properties
Corrosion resistance
Lightweighting and ease of processing
Clean room materials for semiconductors available
TPE grades are available (see page 6)
Surround™
EMI/RFI Shielding
Formulations
ABS, PP, PBT, PC,
PA 66
Transportation,
Electrical & Electronics
Integrated EMI/RFI shielding
Long fiber technology
Conductive properties
Galvanic corrosion protection
Lightweighting and ease of processing
Therma-Tech™
Thermally Conductive
Formulations
LCP, PA, PEEK, PP,
PPA, PPS Consumer, Transportation
Thermally conductive
Low coefficient of thermal expansion
Corrosion resistance
1 See technical data sheets for complete product details
NAME BASE RESIN(S) AVAILABLE FEATURES1
ECCOH™ Low Smoke
and Fume Non-Halogen
Formulations
PE, PP, TPE, EVA
Flame retardant, low smoke and fume, non-halogen (LSFOH)
Flexible, low friction, easy-peel, and high-speed processing
Compatible with Avient colorants and additives
ECCOH™ XL Cross-Linkable
Solutions
XLPE
Enhances the performance of traditional ECCOH LSFOH solutions
Improved oil, chemical and UV resistance, mechanical performance,
or operating temperature
FireCon™ CPE Insulation
Jacketing Formulations
CPE, CPE alloy
Low and medium voltage cable jacketing
Flame retardant and 90°C deformation resistance
Oil resistance
RoHS grades available
Maxxam™ FR
Flame Retardant
Polyolefin Formulations
PE, PP
UL Yellow Card for plenum applications
Halogen-free flame retardant grades available
Maxxam™ SY
Foamable Flame Retardant
Formulations
Foamable PP
co-polymer
Easy processing
Variety of final densities available
Corrosion resistance
Syncure™ XLPE
Cross-linkable
Polyethylene Formulations
XLPE
Low and medium voltage formulations
High performance moisture cure technology
UL bulletinized XHHW2 and VW1
Temperature, abrasion, and oil resistant
Formulations available without DBDPE
Resistant to electrical breakdown
WIRE AND CABLE SPECIALTY THERMOPLASTICS
NAME TARGET MARKETS/APPLICATIONS AVAILABLE FEATURES1
OnFlex™
Thermoplastic
Elastomers
Transportation, Building & Construction,
Electrical & Electronics, Industrial,
Wire & Cable
Low odor solutions
UV stabilization
High heat resistance
Chemical resistance
Automotive approved grades
Excellent compression set
Overmolding
Flame resistant grades
Excellent weatherability
Extrusion, injection, and blow moldable
Formulations with imbedded antimicrobial additives
reSound™ BIO
Thermoplastic
Elastomers
Consumer, Transportation, Industrial
Biopolymers sustainably sourced from plant-based raw materials
Utilizing 35–75% bio-renewable content
Strength and durability
Chemical resistance
Impact resistance
Pre-colored solutions
reSound™ REC
Recycled Content
Thermoplastic
Elastomers
Personal Care Products,
Lawn & Garden Tools, Outdoor Goods,
Office Supplies, Footwear,
Houseware Durables,
Consumer Electronics, Automotive
PIR & PCR formulations utilizing 9–83% recycled content
PCR grades formulated with recycled ocean plastics,
food packaging, engine oil, or polyvinyl butyral (PVB)
PCR grade suitable for use in specific food-contact
applications
Supports the circular economy
Can be overmolded to PP, PC, ABS, PC/AB
Comparable performance to traditional TPEs
reSound™
Ultra-Low
Carbon Footprint
Thermoplastics
Elastomers
Personal Care, Household Appliances,
Consumer Packaging,
Consumer Electronics
Formulated to achieve a negative, neutral or low product carbon
footprint (PCF)
Industry-first cradle-to-gate PCF range between -0.46 and -0.02 in kg
CO2 equivalent/kg product
Opaque natural appearance
Easily colorable
Comparable performance to traditional TPEs
Can be overmolded to PP or PE
Stat-Tech™ TPE
Static Dissipative
& Electrically
Conductive
Thermoplastic
Elastomers
Automotive, Industrial, Conveyor Belts
& Controls, ADAS Systems,
Electronic Devices
Electrical resistivity range from 10 to 10¹⁰ Ω
Hardness range from 40–85 Shore A
Protects critical electrical components from EMI/RFI and reduces static
build-up
Simplifies manufacturing
Overmolds directly onto polymer substrates
Meets regulatory compliance requirements of ATEX and ESD, and food contact
compliance grades are available
Versaflex™ and
Versaflex™ HC
Thermoplastic
Elastomers
Consumer, Packaging, Healthcare,
Electrical & Electronics, Appliances,
Medical Tubing, Protective Films
Overmolding
Vibration damping grades
Clear and heat resistant TPEs
Ultra clear grades
Ultra soft TPE gels, 30 Shore OO
FDA, USP Class VI, ISO 10993 approved grades
NSF and UL listings
Sterilizable under autoclave, radiation, and EtO gas
Extrusion, injection, and blow moldable
Formulations with imbedded antimicrobial additive
Bio-based formulations for healthcare available
GLS™ THERMOPLASTIC ELASTOMERS
1 See technical data sheets for complete product details
Lightweighting
Complēt™ Long Fiber Reinforced Structural Thermoplastics
Edgetek™ LD Low Density Formulations
LubriOne™ Internally Lubricated Formulations
OnForce™ Long Glass Fiber Reinforced Polypropylene Composites
Stat-Tech™ Static Dissipative & Electrically Conductive Formulations
Surround™ EMI/RFI Shielding Formulations
Therma-Tech™ Thermally Conductive Formulations
Human Health & Safety
NEUSoft™ Thermoplastic Polyurethanes
Versaflex™ HC Thermoplastic Elastomers
Reduced Energy Use
Artisan™ Pre-Colored Thermoplastics
Versaflex™ Non-Blooming TPEs for Consumer Electronics
VOC Reduction
OnFlex™ LO Thermoplastic Elastomers
Versaflex™ Low Adhesive Build-up TPE for Protective Film Tack Layer
Versaflex™ PF Tack Layer for Surface Protective Films
Recycle Solutions
Complēt™ REC Long Fiber Reinforced Structural Thermoplastics
Edgetek™ REC PC Recycled Polycarbonate Solutions
Gravi-Tech™ REC Recycled Formulations
Maxxam™ REC Recycled Polyolefin Formulations
Nymax™ REC Recycled Nylon Formulations
reSound™ REC Recycled Content Thermoplastic Elastomer
Biopolymers
Gravi-Tech™ BIO Bio-based Formulations
Maxxam™ BIO Bio-based Polyolefin Formulations
Nymax™ BIO Bio-based Polyamide Solutions
reSound™ BIO Thermoplastic Elastomers
Versaflex™ HC BIO Thermoplastic Elastomers
Eco-conscious
Complēt™ PKE Long Fiber Reinforced Structural Polyketone Thermoplastics
Edgetek™ PKE Polyketone Formulations
Edgetek™ Solutions for Laser Welding
LubriOne™ PKE Polyketone Formulations
Gravi-Tech™ Lead Replacement Formulations
reSound™ Ultra-Low Carbon Footprint Thermoplastics Elastomers
Trilliant™ HC Healthcare Polyketone-based Thermoplastics
Trilliant™ XR Lead Replacement Thermoplastics
Sustainable Infrastructure
ECCOH™ Low Smoke and Fume Non-Halogen Formulations
ECCOH™ XL Cross-linkable Solutions
Edgetek™ Formulations for 5G
Maxxam™ FR Flame Retardant Polyolefin Formulations
PREPERM™ Low-Loss Dielectric Thermoplastics
Syncure™ XLPE Cross-linkable Polyethylene Formulations
SPECIALTY ENGINEERED FORMULATIONS
THAT SUPPORT SUSTAINABILITY
SPECIALTY
ENGINEERED
MATERIALS
FOCUS MARKETS
Our product portfolio offers customizable
solutions to serve a full range of markets,
including:
Building & Construction
Consumer
Energy
Healthcare
Industrial
Packaging
Telecommunications
Transportation
1.844.4AVIENT
www.avient.com
Copyright © 2024, Avient Corporation.
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
This
innovation drives performance and is
reflective of consistent, strategic
investments in our portfolio…and
people.
2020 Pro forma $991 $86
Sustainable Solutions 15 11% 6
Healthcare 28 22% 6
Composites 6 10% 3
Growth in Emerging Regions 44 30% 10
Other 53 10% 7
Sub-total $1,137 15% $118
FX Impact 25 - 2
Synergies - - 11
Incentives, Travel, Other Employee Costs - - (8)
2021 Actual $1,162 17% $123
Q1 2021 ORGANIC SALES AND OPERATING INCOME
( T O TA L C O M PA N Y )
7
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
Sales Growth Rate
Adjusted
Operating
Income$ millions
(1)
8
Electrical &
Electronics
Building &
Construction
Wire & Cable Transportation Industrial Healthcare Packaging Consumer
Q1 2020PF Q1 2021
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
(2) Financial information is presented on a constant currency basis
(1,2)
(42% of total revenue)
(58% of total revenue)
Q1 END MARKET SALES PERFORMANCE
+17%
+14% +8%
+10%
+8% +22%
+5%
+24%
Q 2 A N D F U L L Y E A R
2 0 2 1 O U T L O O K
$69
$112
2020PF 2021E
$0.42
$0.80
2020PF 2021E
ORGANIC GROWTH PROJECTIONS – Q2
( T O TA L C O M PA N Y )
10
Sales Adjusted Operating Income
$870
$1,100
2020PF 2021E
+ 26%
Adjusted EPS
+ 62% + 90%
(in millions) (in millions)
(1) (1) (1)
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
FULL YEAR GUIDANCE INCREASED
11
Sales Adj.
Whether
an additional line at an existing
manufacturing plant, or a new
facility in a growing region, we
ramp-up quickly and cost-efficiently.
18
Capex / Revenue
2021E (%)
AV I E N T I S A SS E T L I G H T
Avient Specialty
Formulators
Other
Chemical/Specialty
Companies
2 3 2 2 2
3 3
4 3 3 3
4 4 5
5 5 6
7 7
8
24
A
vi
e
n
t
A
vi
e
n
t
(E
xc
l.
APPENDIX
Performance
Additives
15%
Pigments
15%
TiO2
12%
Dyestuffs
4%Polyethylene
10%
Nylon
5%
Polypropylene
4%
Other Raw
Materials
29%
Styrenic Block
Copolymer
6%
~1/3 hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
23
• Exiting 2020, the majority of hydrocarbon based raw
material markets were experiencing price inflation
and tight inventory
• Winter Storm Uri in the Gulf Coast caused further
stress on the situation for 2021
• Raw materials most impacted include polyethylene,
polypropylene and nylon
• We purchase over 8,000 different raw materials to
formulate our customized solutions and unique
specifications
Annual Purchases
RAW MATERIAL UPDATE
Based on 2020 pro forma purchases, excludes Distribution
SEGMENT DATA
U.S. & Canada
50%
EMEA
26%
Asia
16%
Latin America
8%
2020 SEGMENT, END MARKET AND GEOGRAPHY
25
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
23%
Packaging
21%Industrial
15%
Wire & Cable
6%
Building &
Construction
6%
Electrical &
Electronics
4%
END MARKET REVENUE
Transportation
10%
Healthcare
15%
All data reflects 2020 Pro forma for acquisition of the Clariant Masterbatch business.
(1) The total company sales and EBITDA of $3,783M and $457M, respectively, include intercompany sales eliminations and corporate costs
$2,043M
$331M
$709M
$124M
$1,110M
$70M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$457M$3,783M
(1)
Packaging
35%
Consumer
23%
Healthcare
8%
Industrial
14%
Building &
Construction
8%
Transportation
7%
Wire & Cable
3%
Electrical &
Electronics
2%
C O L O R , A D D I T I V E S & I N K S
2 0 2 0 P F R E V E N U E | $ 2 . 0 B I L L I O N
US & Canada
31%
EMEA
40%
Asia
22%
Latin America
7%
END MARKET REGION
26
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
Consumer
24%
Healthcare
10%
Packaging
6%
Wire & Cable(1)
24%
Electrical &
Electronics
13%
Transportation
11%
Industrial
10%
Building &
Construction
2%
2 0 2 0 R E V E N U E | $ 7 0 9 M I L L I O N
END MARKET
US & Canada
58%
EMEA
23%
Asia
19%
REGION
27
(1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling
D I S T R I B U T I O N
2 0 2 0 R E V E N U E | $ 1 . 1 B I L L I O N
Healthcare
29%
Consumer
25%
Packaging
2%
Industrial
20%
Transportation
14%
Electrical &
Electronics
5%
Building &
Construction
4%
Wire & Cable
1%
US & Canada
82%
Asia
3%
Latin
America
15%
END MARKET REGION
K E Y S U P P L I E R S
28
T O T A L C O M PA N Y R E G I O N A L S A L E S
B Y E N D M A R K E T
Packaging
32%
Consumer
27%
Healthcare
12%
Industrial
6%
Wire & Cable
6%
Building &
Construction
4%
Electrical &
Electronics
9%
Asia
(16% of sales)
Transportation
4%
Packaging
34%
Consumer
16%Healthcare
5%
Industrial
17%
Wire & Cable
10%
Building &
Construction
8%
Electrical &
Electronics
3%
EMEA
(26% of sales)
Transportation
7%
2020 figures Pro forma for acquisition of the Clariant Masterbatch business
29
Transportation
10%
Consumer
26%
Healthcare
19%
Packaging
13%
Industrial
16%
Wire & Cable
7%
Building &
Construction
5%
Electrical &
Electronics
4%
US &
Canada
(50% of sales)
Packaging
45%
Consumer
29%
Healthcare
6%
Industrial
8%
Building &
Construction
3%
Electrical &
Electronics
2% Wire & Cable
1%
LATAM
(8% of sales)
Transportation
6%
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Three Months Ended
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Income from continuing operations before income taxes $ 102.6 $ 2.4 $ 105.0
Income tax expense - GAAP (22.9) — (22.9)
Income tax impact of special items — (0.9) (0.9)
Tax adjustments — 1.1 1.1
Net income attributable to noncontrolling interests (0.4) — (0.4)
Net income from continuing operations attributable to Avient shareholders $ 79.3 $ 2.6 $ 81.9
Net income / EPS $ 0.86 0.03 $ 0.89
Weighted-average diluted shares 92.2 92.2 92.2
Reconciliation to Consolidated Statements of Income
Three Months Ended
March 31, 2021
Operating income - GAAP $ 120.4
Special items in operating income 2.4
Adjusted Operating income $ 122.8
1
Business Segment Operations
Three Months Ended
March 31,
Year Ended
December 31,
2021 2020 2020 2019 2018
Sales:
Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5
Specialty Engineered Materials 216.5 185.3 708.8 745.7 645.8
Distribution 362.7 289.5 1,110.3 1,192.2 1,265.4
Corporate and eliminations (26.2) (19.8) (79.9) (79.0) (76.7)
Sales $ 1,162.3 $ 711.5 $ 3,242.1 $ 2,862.7 $ 2,881.0
Gross margin:
Color, Additives and Inks $ 197.5 $ 89.4 $ 484.4 $ 338.4 $ 353.4
Specialty Engineered Materials 64.7 52.6 207.6 200.2 171.7
Distribution 39.3 33.6 124.0 132.1 125.8
Corporate and eliminations 0.9 (4.1) (31.7) (13.5) (26.1)
Gross margin $ 302.4 $ 171.5 $ 784.3 $ 657.2 $ 624.8
Selling and administrative expense:
Color, Additives and Inks $ 108.7 $ 48.9 $ 303.6 $ 191.0 $ 194.9
Specialty Engineered Materials 30.5 30.3 113.2 116.5 99.4
Distribution 15.3 14.2 54.5 56.7 54.3
Corporate and eliminations 27.5 25.3 123.7 136.2 97.6
Selling and administrative expense $ 182.0 $ 118.7 $ 595.0 $ 500.4 $ 446.2
Operating income:
Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5
Specialty Engineered Materials 34.2 22.3 94.4 83.7 72.3
Distribution 24.0 19.4 69.5 75.4 71.5
Corporate and eliminations (26.6) (29.4) (155.4) (149.7) (123.7)
Operating income $ 120.4 $ 52.8 $ 189.3 $ 156.8 $ 178.6
Earnings before interest, taxes, depreciation and
amortization (EBITDA):
Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8
Specialty Engineered Materials 42.0 29.8 124.4 113.2 95.5
Distribution 24.2 19.5 70.2 75.9 72.2
Corporate and eliminations (24.9) (28.0) (146.2) (144.3) (119.3)
Other income, net 1.5 1.6 24.3 12.1 (12.9)
EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3
EBITDA as a % of Sales:
Color, Additives and Inks 19.1 % 20.0 % 17.0 % 18.9 % 19.4 %
Specialty Engineered Materials 19.4 % 16.1 % 17.6 % 15.2 % 14.8 %
Distribution 6.7 % 6.7 % 6.3 % 6.4 % 5.7 %
2
Reconciliation of Pro Forma EBITDA - Color,
Additives and Inks
Three Months Ended
March 31,
Year Ended
December 31,
2021 2020 2020 2019 2018
Sales:
Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5
Clariant MB pro forma adjustments(1) — 279.4 540.4 1,118.6 1,209.8
Pro forma sales $ 609.3 $ 535.9 $ 2,043.3 $ 2,122.4 $ 2,256.3
Operating income:
Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5
Clariant MB pro forma adjustments(1) — 23.0 45.0 72.9 80.3
Pro forma operating income $ 88.8 $ 63.5 $ 225.8 $ 220.3 $ 238.8
Depreciation & amortization:
Color, Additives and Inks $ 27.4 $ 10.9 $ 75.1 $ 42.7 $ 44.3
Clariant MB pro forma adjustments(1) — 15.1 30.1 60.3 61.2
Pro forma depreciation & amortization $ 27.4 $ 26.0 $ 105.2 $ 103.0 $ 105.5
Earnings Before Interest, Taxes, Depreciation
and Amortization (EBITDA):
Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8
Clariant MB pro forma adjustments(1) — 38.1 75.1 133.2 141.5
Pro forma EBITDA $ 116.2 $ 89.5 $ 331.0 $ 323.3 $ 344.3
Pro forma EBITDA as a % of Sales 19.1 % 16.7 % 16.2 % 15.2 % 15.3 %
Three Months Ended
March 31, 2020
Reconciliation of Pro Forma Adjusted Earnings per
Share Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(1)
Pro Forma
Adjusted
Avient
Sales $ 711.5 $ — $ 711.5 $ 279.4 $ 990.9
Operating income 52.8 9.7 62.5 23.0 85.5
Interest expense, net (9.4) — (9.4) (12.8) (22.2)
Other income, net 1.6 (0.1) 1.5 — 1.5
Income taxes (11.9) (1.0) (12.9) (2.4) (15.3)
Net income from continuing operations attributable to
Avient shareholders $ 33.1 $ 8.6 $ 41.7 $ 7.8 $ 49.5
Weighted average diluted shares 86.7
Impact to diluted shares from January 2020 equity offering 6.1
Weighted average diluted shares 92.8
EPS $ 0.53
(1) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition
3
Three Months Ended
June 30, 2020
Reconciliation of Pro Forma Adjusted Earnings per
Share Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(2)
Pro
Forma
Adjusted
Avient
Sales $ 609.1 $ — $ 609.1 $ 261.1 $ 870.2
Operating income $ 38.0 $ 9.0 $ 47.0 $ 22.0 $ 69.0
Interest expense, net (16.2) — (16.2) (5.3) (21.5)
Other income, net 9.5 (0.3) 9.2 — 9.2
Income taxes (7.9) 0.7 (7.2) (3.8) (11.0)
Net income attributable to non controlling interests
(0.4) — (0.4) — (0.4)
Net income from continuing operations attributable to
Avient shareholders $ 23.0 $ 9.4 $ 32.4 $ 12.9 $ 45.3
Weighted average diluted shares 91.8
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 107.1
Pro forma adjusted EPS $ 0.42
(2) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition
Year Ended
December 31,
Reconciliation to Adjusted EBITDA 2020 2019 2018
Net income from continuing operations – GAAP $ 133.8 $ 75.7 $ 87.4
Income tax expense 5.2 33.7 14.4
Interest expense 74.6 59.5 62.8
Debt extinguishment cost — — 1.1
Depreciation and amortization from continuing operations 115.0 78.1 72.6
EBITDA $ 328.6 $ 247.0 $ 238.3
Special items, before tax 66.2 61.7 59.5
Interest expense included in special items (10.1) — —
Accelerated depreciation included in special items (3.2) — (3.0)
Adjusted EBITDA $ 381.6 $ 308.7 $ 294.8
4
Year Ended
December 31, 2020
Reconciliation of Pro Forma Adjusted
Earnings per Share Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(3)
Pro Forma
Adjusted
Avient
Sales $ 3,242.1 $ — $ 3,242.1 $ 540.4 $ 3,782.5
Operating income $ 189.3 $ 73.7 $ 263.0 $ 45.0 $ 308.0
Interest expense, net (74.6) 10.1 (64.5) (18.1) (82.6)
Other income, net 24.3 (17.6) 6.7 — 6.7
Income taxes (5.2) (41.4) (46.6) (6.2) (52.8)
Net income attributable to noncontrolling
interests (1.8) — (1.8) — (1.8)
Net income from continuing operations
attributable to Avient shareholders $ 132.0 $ 24.8 $ 156.8 $ 20.7 $ 177.5
Weighted average diluted shares 90.6
Impact to diluted shares from January 2020 equity offering 1.5
Pro forma weighted average diluted shares 92.1
Pro forma adjusted EPS $ 1.93
Reconciliation of Pro Forma Adjusted
EBITDA from continuing operations
Operating income and other income, net $ 213.6 $ — $ 56.1 $ 269.7 $ 45.0 $ — $ 314.7
Depreciation and amortization 115.0 (3.2) 111.8 30.1 141.9
EBITDA from continuing operations $ 328.6 $ 52.9 $ 381.5 $ 75.1 $ 456.6
Year Ended
December 31, 2019
Reconciliation of Pro Forma Adjusted
Earnings per Share Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(1)
Pro Forma
Adjusted
Avient
Sales $ 2,862.7 $ — $ 2,862.7 $ 1,118.6 $ 3,981.3
Operating income $ 156.8 $ 71.7 $ 228.5 $ 72.9 $ 301.4
Interest expense, net (59.5) — (59.5) (33.4) (92.9)
Other income, net 12.1 (10.0) 2.1 — 2.1
Income taxes (33.7) (5.9) (39.6) (9.1) (48.7)
Net income attributable to noncontrolling
interests (0.2) — (0.2) — (0.2)
Net income from continuing operations
attributable to Avient shareholders $ 75.5 $ 55.8 $ 131.3 $ 30.4 $ 161.7
Weighted average diluted shares 77.7
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 93.0
Pro forma adjusted EPS $ 1.74
Reconciliation of Pro Forma Adjusted
EBITDA from continuing operations
Operating income and other income, net $ 168.9 $ — $ 61.7 $ 230.6 $ 72.9 $ — $ 303.5
Depreciation and amortization 78.1 — 78.1 60.3 138.4
EBITDA from continuing operations $ 247.0 $ 61.7 $ 308.7 $ 133.2 $ 441.9
(3) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition
5
AVNT First Quarter 2021 Earnings Presentation no recs.pdf
AVNT First Quarter 2021 Earnings Presentation.pdf
AVNT First Quarter 2021 Earnings Presentation.pdf
AVNT First Quarter 2021 Earnings Presentation.pdf
4.29 127pm Q1 21 IR Deck Version non-GAAP Recs (002).pdf