https://www.avient.com/news/polyone-expands-lineup-pre-certified-biocompatible-healthcare-colorants-and-additives
February 6, 2018
ANAHEIM, Calif. – February 6, 2018 – At today’s Medical Design & Manufacturing (MD&M) West show, PolyOne unveiled an expanded line of OnColorä HC Plus colorants and OnCapä HC Plus additives for healthcare.
Expanded resin families able to incorporate biocompatible colorants and additives include nylon, thermoplastic vulcanizates (TPVs), and polystyrene.
https://www.avient.com/sites/default/files/2023-03/ColorMatrix Amosorb rPET Booster Product Bulletin.pdf
KEY BENEFITS
• Consistent performance with all levels of rPET;
25%, 50% and 100%
• Improved haze and color
• Can be used with many different resin/grades
• Non-nylon based
• Simple to use with existing mono-layer
equipment
• Suitable for use on multi-layer machines
Sustainability Spotlight
Recycle
Solutions
TARGET MARKET & APPLICATIONS
PET and rPET rigid packaging for food & beverage
REGULATORY
ColorMatrix Amosorb 4020R meets direct food contact regulatory requirements in major markets.
https://www.avient.com/sites/default/files/2025-02/ColorMatrix Amosorb 4020L Product Bulletin.pdf
KEY BENEFITS
• Exceptional recyclability
• Compatible with rPET (recommended for >25%
rPET content)
• Non-nylon based
• No scavenging delay or deactivation
• Flexibility to employ a wider span of LDR levels
to reach long-term shelf life
• Excellent bottle aesthetics even at higher LDR
• Simple to use with existing mono-layer
equipment
• Suitable for use on multi-layer machines
Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/AVNT February IR Presentation_w_Non-GAAP Recs.pdf
&
Canada
EMEA
Asia
Latin America
64%
36%
Specialty
Engineered
Materials
Color
Additives
and Inks
41%
36%
18%
5%
7%
7%
23%
19%
9%
16%
10% 5% 4%
Defense
Healthcare
Packaging
Consumer
Building &
Construction
Industrial
Transportation
Energy Telecom
Geography
Segment
Industry
4
CRE AT ING A WORL D-CL AS S
S US TAINABL E ORGANIZ AT ION
1. 6% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
AS HIS H KHANDP UR
P R E S I D E N T & C E O
7
8
PORTFOLIO TRANSFORMATION
8
7%
46%
66%
87%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020 2023
%
o
f A
dj
us
te
d
E
B
IT
D
A
Commodity JVs Distribution Performance Products & Solutions Specialty Businesses
Adjusted EBITDA from Specialty Applications
SUSTAINABILITY AS A GROWTH DRIVER
9
LONG-TERM REVENUE GROWTH DRIVERS
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
60%+
Key Growth
Drivers
Total Company Revenue
Growth Drivers Long-Term Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other 0–2%
Avient 6%
END MARKET OBSERVATIONS
( % O F C O M PA N Y S A L E S )
ENERGY
5%
DEFENSE
7%
TELECOMMUNICATIONS
4%
HEALTHCARE
7%
10
TRANSPORTATION
10%
INDUSTRIAL
16%
BUILDING &
CONSTRUCTION 9%
CONSUMER
19%
PACKAGING
23%
11
REGIONAL OBSERVATIONS
( % O F C O M PA N Y S A L E S )
11
US & Canada
Latin America
EMEA
Asia
41%
36%
18%
5%
Q 4 2 0 2 3 R E S U L T S
Q4 2023 PERFORMANCE VS.
PY
( T O TA L C O M PA N Y )
$790
$719
2022 2023
$107
$114
2022 2023
Sales Adjusted EBITDA
(in millions)
$0.42
$0.52
2022 2023
Adjusted EPS
(in millions)
- 9% + 7% + 24%
Sales Adjusted EBITDA Adjusted EPS
15
Q4 2023 SEGMENT PERFORMANCE
16
CAI
$491
$459
Sales
(in millions)
$70
$84
EBITDA
SEM
$301
$260
Sales
$55
$49
EBITDA
- 7% - 14%+20% - 11%
2022 2023
(in millions)
Q4 EBITDA BRIDGE
( T O TA L C O M PA N Y )
17
$ millions
CAI:
Price / Mix 11
Deflation 14
SEM:
Price / Mix 4
Deflation 9
Net Price Benefit 38
Cost Reductions 13
Wage Inflation (8)
Other (2)
Q4 2023 $114
Adjusted
EBITDA
Q4 2022 $ 107
Demand (34) • Demand was down, but less than in previous
quarters, due to slowing pace of destocking
• Positive net price benefit:
o CAI – Pricing flat with favorable mix from
uptick in packaging and consumer end
markets and raw material deflation
o SEM - Pricing flat with favorable mix from
Composites and raw material deflation
• Cost reductions primarily driven by reduced
administrative costs and cost synergies
2 0 2 4 G U I D A N C E
2024 GUIDANCE
Full Year 2024 Guidance
Adjusted EBITDA $505 to $535 million
Adjusted EPS $2.40 to $2.65
Interest Expense $105 to $110 million
Adjusted Effective Tax Rate 23% to 25%
Capital Expenditures ~$140 million
19
Q1 Adjusted EPS of $0.68
A P P E N D I X
21
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%
23
(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
24
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%
25
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%
26
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/products/engineered-polymer-formulations/chemical-corrosion-resistant-formulations/trilliant-hc-healthcare-thermoplastics
Glass-filled polyketone (PK) formulations (10-30%) offer a nylon alternative with excellent chemical resistance, high temperature performance, and good wear resistance
Polyketone, a next generation sustainable nylon alternative
Learn more about polyketone, how it compares to nylons, its sustainability value, and potential applications in this free on-demand webinar
https://www.avient.com/sites/default/files/2021-11/avnt-november-investor-meetings.pdf
This
innovation drives performance and is
reflective of consistent, strategic
investments in technology and people
Clariant Color business
acquired July 1, 2020
1
1
2
3
5
7
7
7
9
10
30
40
14
25
13
22
35
9
19
13
18
41
Current Additional share needed to reach 2025 target
B R A N D O W N E R S C O M M I T T E D TO I N C R E A S I N G
U S E O F R E C YC L E D M AT E R I A L S
14
Brand Owner 1
Brand Owner 3
Brand Owner 2
Brand Owner 7
Brand Owner 4
Brand Owner 10
Brand Owner 6
Brand Owner 11
Brand Owner 5
Brand Owner 8
Brand Owner 9
Brand Owner 12
Brand Owner 13
Percent recycled plastic used:
(examples and not exhaustive)
(1)
(1) Latest year reported.
Whether
an additional line at an existing
manufacturing plant, or a new
facility in a growing region, we
ramp-up quickly and cost-efficiently.
31
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
1
2
3 3
3
4
3 3
4
5 5
5
6
9
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
36
• Significant raw material price inflation and
tight inventory continued in Q3 2021
o Average cost of hydrocarbon based
materials was up 65% year-over-year and
10% sequentially
o Average cost of non-hydrocarbon based
materials was up 20% year-over-year and
3% sequentially
• Additionally, we continued to experience
other supply chain challenges during Q3
related to raw material spot purchases,
freight constraints and productivity loss
as a result of these shortages
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2020 pro forma purchases, excludes Distribution business
SEGMENT DATA
U.S. & Canada
51%
EMEA
25%
Asia
16%
Latin America
8%
2021 YTD SEGMENT, END MARKET AND GEOGRAPHY
38
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
23%
Packaging
19%
Industrial
16%
Building and
Construction
10%
Telecommunications
4%
Energy
2%
END MARKET REVENUE
(1) Total company sales and EBITDA of $3,617M and $455M, respectively, include intercompany sales eliminations and corporate costs
All charts reflect YTD financials through September 30
$1,820M
$321M
$691M
$127M
$1,206M
$72M
Sales Adjusted EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$455M$3,617M
(1)
Transportation
12%
Healthcare
14%
Packaging
34%
Consumer
21%
Healthcare
7%
Industrial
16%
Building &
Construction
10%
Transportation
9%
Energy
2% Telecommunications
1%
C O L O R , A D D I T I V E S & I N K S
2 0 2 1 Y T D R E V E N U E | $ 1 . 8 B I L L I O N
US & Canada
31%
EMEA
42%
Asia
21%
Latin America
6%
END MARKET REGION
39
All charts reflect 2021 YTD financials through September 30
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
28%
Healthcare
10%
Packaging
6%
Telecommunications
16%
Transportation
12%
Industrial
11%
Building &
Construction
10%
Energy
7%
2 0 2 1 Y T D R E V E N U E | $ 6 9 1 M I L L I O N
END MARKET
US & Canada
55%
EMEA
25%
Asia
20%
REGION
40
All charts reflect 2021 YTD financials through September 30
D I S T R I B U T I O N
Healthcare
26%
Consumer
22%
Packaging
6%
Industrial
20%
Transportation
16%
Building and
Construction
8%
Energy
1%
Telecommunications
1%
US & Canada
81%
Asia
4%
Latin
America
15%
END MARKET REGION
K E Y S U P P L I E R S
2 0 2 1 Y T D R E V E N U E | $ 1 . 2 B I L L I O N
41
All charts reflect 2021 YTD financials through September 30
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
30%
Consumer
27%
Healthcare
12%
Industrial
14%
Building &
Construction
5%
Telecommunications
2% Energy
2%
Asia
(16% of sales)
Transportation
8%
Packaging
31%
Consumer
14%
Healthcare
5%
Industrial
17%
Building &
Construction
12%
Telecommunications
5%
Energy
4%
EMEA
(25% of sales)
Transportation
12%
42
Consumer
25%
Healthcare
19%
Packaging
10%
Industrial
17%
Building &
Construction
10%
Telecommunications
4%
Energy
2%
US &
Canada
(51% of sales)
Transportation
13%
Packaging
42%
Consumer
33%
Healthcare
3%
Industrial
10%
Building &
Construction
5%
Telecommunications
1%
LATAM
(8% of sales)
Transportation
6%
All charts reflect 2021 YTD financials through September 30
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Three Months Ended
September 30, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating income $ 78.7 $ 20.0 $ 98.7
Income from continuing operations before income taxes $ 61.1 $ 19.9 $ 81.0
Income tax expense - GAAP (8.5) — (8.5)
Income tax impact of special items — (4.6) (4.6)
Tax adjustments — (3.6) (3.6)
Net income attributable to noncontrolling interests 0.3 — 0.3
Net income from continuing operations attributable to Avient shareholders $ 52.9 $ 11.7 $ 64.6
Net income / EPS $ 0.57 $ 0.13 $ 0.70
Weighted-average diluted shares 92.2 92.2 92.2
Three Months Ended
September 30, 2020
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating income $ 33.5 $ 40.4 $ 73.9
Income from continuing operations before income taxes $ 5.3 $ 50.0 $ 55.3
Income tax expense - GAAP (2.7) — (2.7)
Income tax impact of special items — (12.7) (12.7)
Tax adjustments — 3.0 3.0
Net income attributable to noncontrolling interests (0.9) — (0.9)
Net income from continuing operations attributable to Avient shareholders $ 1.7 $ 40.3 $ 42.0
Net income / EPS $ 0.02 $ 0.44 $ 0.46
Weighted-average diluted shares 91.9 91.9 91.9
1
Three Months Ended
September 30,
Three
Months
Ended
Nine
Months
Ended
Year Ended
December 31,
Reconciliation to Pro Forma
Adjusted EBITDA 2021 2020
June 30,
2021
September
30, 2021 2020 2019 2018
Net income from continuing
operations – GAAP $ 52.6 $ 2.6 $ 69.4 $ 201.7 $ 133.8 $ 75.7 $ 87.4
Income tax expense 8.5 2.7 20.4 51.8 5.2 33.7 14.4
Interest expense 19.0 29.7 19.5 57.8 74.6 59.5 62.8
Debt extinguishment cost — — — — — — 1.1
Depreciation and amortization from
continuing operations 36.8 36.5 33.8 107.7 115.0 78.1 72.6
EBITDA $ 116.9 71.5 $ 143.1 $ 419.0 $ 328.6 $ 247.0 $ 238.3
Special items, before tax 19.9 50.0 14.2 36.5 66.2 61.7 59.5
Interest expense included in special
items — (9.6) — — (10.1) — —
Depreciation and amortization
included in special items (0.9) (1.3) 1.4 (0.1) (3.2) — (3.0)
Adjusted EBITDA $ 135.9 $ 110.6 $ 158.7 $ 455.4 $ 381.6 $ 308.7 $ 294.8
Clariant MB pro forma adjustments(1) — — — — 75.1 133.2 141.5
Pro forma adjusted EBITDA $ 135.9 $ 110.6 $ 158.7 $ 455.4 $ 456.7 $ 441.9 $ 436.3
(1) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
2
Reconciliation of EBITDA by Segment
Three Months Ended
September 30,
Nine Months
Ended
September 30,
Year Ended
December 31,
2021 2020 2021 2020 2019 2018
Sales:
Color, Additives and Inks $ 586.6 $ 493.8 $ 1,820.3 $ 1,502.9 $ 1,003.8 $ 1,046.5
Specialty Engineered Materials 233.6 174.1 690.7 708.8 745.7 645.8
Distribution 438.8 276.9 1,205.9 1,110.3 1,192.2 1,265.4
Corporate and eliminations (39.2) (20.3) (99.6) (79.9) (79.0) (76.7)
Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 3,242.1 $ 2,862.7 $ 2,881.0
Operating income:
Color, Additives and Inks $ 66.8 $ 50.5 $ 241.9 $ 180.8 $ 147.4 $ 158.5
Specialty Engineered Materials 31.7 24.7 103.2 94.4 83.7 72.3
Distribution 23.8 17.5 71.5 69.5 75.4 71.5
Corporate and eliminations (43.6) (59.2) (109.4) (155.4) (149.7) (123.7)
Operating income $ 78.7 $ 33.5 $ 307.2 $ 189.3 $ 156.8 $ 178.6
Items below OI in Corporate:
Other income, net $ 1.4 $ 1.5 $ 4.1 $ 24.3 $ 12.1 $ (12.9)
Depreciation & amortization:
Color, Additives and Inks $ 26.6 $ 26.3 $ 79.2 $ 75.1 $ 42.7 $ 44.3
Specialty Engineered Materials 7.9 7.5 23.8 30.0 29.5 23.2
Distribution 0.2 0.2 0.6 0.7 0.5 0.7
Corporate and eliminations 2.1 2.5 4.1 9.2 5.4 4.4
Depreciation & Amortization $ 36.8 $ 36.5 $ 107.7 $ 115.0 $ 78.1 $ 72.6
EBITDA:
Color, Additives and Inks $ 93.4 $ 76.8 $ 321.1 $ 255.9 $ 190.1 $ 202.8
Specialty Engineered Materials 39.6 32.2 127.0 124.4 113.2 95.5
Distribution 24.0 17.7 72.1 70.2 75.9 72.2
Corporate and eliminations (41.5) (56.7) (105.3) (146.2) (144.3) (119.3)
EBITDA $ 116.9 $ 71.5 $ 419.0 $ 328.6 $ 247.0 $ 238.3
EBITDA as a % of Sales:
Color, Additives and Inks 15.9 % 15.6 % 17.6 % 17.0 % 18.9 % 19.4 %
Specialty Engineered Materials 17.0 % 18.5 % 18.4 % 17.6 % 15.2 % 14.8 %
Distribution 5.5 % 6.4 % 6.0 % 6.3 % 6.4 % 5.7 %
3
Reconciliation of Pro Forma EBITDA - Color, Additives and Inks
Year Ended
December 31,
2020 2019 2018
Sales:
Color, Additives and Inks $ 1,502.9 $ 1,003.8 $ 1,046.5
Clariant MB pro forma
adjustments(1) 540.4 1,118.6 1,209.8
Pro forma sales $ 2,043.3 $ 2,122.4 $ 2,256.3
Operating income:
Color, Additives and Inks $ 180.8 $ 147.4 $ 158.5
Clariant MB pro forma
adjustments(1) 45.0 72.9 80.3
Pro forma operating income $ 225.8 $ 220.3 $ 238.8
Depreciation & amortization:
Color, Additives and Inks $ 75.1 $ 42.7 $ 44.3
Clariant MB pro forma adjustments(1) 30.1 60.3 61.2
Pro forma depreciation & amortization $ 105.2 $ 103.0 $ 105.5
EBITDA
Color, Additives and Inks $ 255.9 $ 190.1 $ 202.8
Clariant MB pro forma
adjustments(1) 75.1 133.2 141.5
Pro forma EBITDA $ 331.0 $ 323.3 $ 344.3
Pro forma EBITDA as a % of Sales 16.2 % 15.2 % 15.3 %
(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
4
Year Ended
December 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 $ 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
(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
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
(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
5
AVNT November Investor Meetings.pdf
AVNT Q3 2021 Earnings Presentation.pdf
Final 10.27 606pm Q3 21 IR Deck Version v1.pdf
https://www.avient.com/sites/default/files/2022-02/AVNT Q4 2021 Earnings Presentation_0.pdf
Purchase price multiple rapidly declining on strength of
business and synergy capture
10
$133
$205
2019PF 2021
10
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.1x
2019PF 2021 2021 w/ Full
Synergies
(1)
(1)
11.9%
16.2%
2019PF 2021
EBITDA Margins
(1)
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
($ in millions)
(1) Financial information is pro forma to include a full year of Clariant Color business
($ millions)
Initial
Synergy
Estimate
2021
Synergy
Realization
Total
Synergies
Expected
Administrative $ 18 $ 29 $ 40
Sourcing 24 20 24
Operational 18 5 21
Total Synergies $ 60 $ 54 $ 85
C L A R I A N T C O LO R I N T E G R AT I O N &
C O S T S Y N ERG I E S U PDATE
11
• Integration going extremely well: synergy target increased to $85 million at December 9th Investor Day
• Relentless focus on guiding principles of safety first, employee collaboration and exceeding customer expectations
• Future revenue synergies are not part of these estimates and represent additional growth over the long term
S U S TA I NA B I L I T Y F O R A B ET T E R TO M O R ROW
12
• Revenue from sustainable solutions grew
16% in 2021 and expected to grow 8-12% in
2022 as our innovation efforts and
collaboration with customers accelerates
• Investments centered around innovation and
global sustainability megatrends
o Enabling a circular economy –
Technologies that allow for increased use of
post-consumer recycled (PCR) material and
improve recyclability of plastics
o Light-weighting – Composites and CAI
applications to reduce weight and material
requirements, which minimize energy and
carbon emissions
o Eco-Conscious – Health and human safety
applications as well as Avient’s alternative
materials to replace lead, PVC, halogens,
BPA and other less eco-friendly options
12
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
**2020 is Pro Forma to include full year of the Clariant Color business
12
2016 2017 2018 2019 2020PF** 2021
$405M
$455M
$550M
$790M
Revenue From Sustainable Solutions* 2016-2021
$915M
$340M
PEOPL E
C U L T U R E I S E V E R Y T H I N G
Community Service
7x Safer
than Industry Average
World-Class Safety
Leadership Development
Over $16 million
raised since 2010
Diversity & Inclusion
13
Q4 2020 $997 $80
Sustainable Solutions 23 12% 8
Healthcare 53 43% 9
Composites 7 22% 2
Growth in Asia / LATAM 14 10% 3
Other 118 23% 2
Sub-total $1,212 22% $104
Wage Inflation and Overtime (11)
Other Supply Chain Costs (4)
Synergies 9
Incentives, FX, Other Employee Costs (10) (13)
Q4 2021 $1,202 21% $85
Q4 2021 SALES AND OPERATING INCOME
( T O TA L C O M PA N Y )
14
Sales Growth Rate
Adjusted
Operating
Income$ millions
Adjusted
EBITDA
Q4 EBITDA BRIDGE
15
Price increases more than
offsets raw material and
supply chain impacts
Q4 2020 $ 118
Demand -
$ millions
CAI:
Price / Mix 62
Inflation (45)
SEM:
Price / Mix 25
Inflation (20)
Distribution:
Price / Mix 114
Inflation (109)
Net Price Benefit 27
Wage Inflation and Overtime (11)
Other Supply Chain Costs (4)
Synergies 9
Incentives, FX, Other Employee Costs (13)
Q4 2021 $ 126
Transportation (5)$
Outdoor High Performance (3)
Other 8
Total Demand -
Q4 2021 SEGMENT PERFORMANCE
16
CAI
$526
$581
Sales
($ in millions)
SEM Distribution
$58
$61
Operating Income
+ 11% + 6%
$305
$425
Sales
$18
$22
Operating Income
+ 39% + 22%
(1)
$191
$228
Sales
$30
$29
Operating Income
+ 19% - 3%
2 0 2 2 O U T L O O K
REVENUE GROWTH DRIVERS
Growth Drivers
Long-Term
Growth Rate
2022E
Growth Rate
Sustainable Solutions 8–12% 12%
Healthcare 8–10% 10%
Composites 10% 3%
Asia / LATAM 5% 6%
Other (GDP growth) 2–3% 2–3%
Avient 6.5% 6%
18
Excluding Outdoor High Performance 13%
(7.5% excl.
O U R VA LUATI O N V E R S U S P E E R S
Avient Specialty
Formulators
Other
Chemical/Specialty
Companies
5.4
8.5
10.1 10.0
15.7
15.0
14.2
12.7
10.2
25.0
19.7
17.7
13.2
12.3
10.0 9.9
8.9 8.5 8.3
6.6
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Historic Multiple
S U M M A RY: W H Y I N V E S T I N AV I E N T ?
APPENDIX
Performance
Additives
15%
Pigments
13%
TiO2
11%
Dyestuffs
3%Polyethylene
12%
Nylon
6%
Polypropylene
5%
Other Raw
Materials
30%
Styrenic Block
Copolymer
5%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
31
• Significant raw material price inflation
and tight inventory continued in Q4 2021
o For the full year, the average cost of
hydrocarbon based materials was up
50% in 2021
o For the full year, the average cost of non-
hydrocarbon based materials was up
12% in 2021
• Additionally, we continued to experience
other supply chain challenges during Q4
related to raw material spot purchases,
freight constraints and productivity loss
as a result of these shortages
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Distribution business
SEGMENT DATA
U.S. & Canada
50%
EMEA
25%
Asia
16%
Latin America
9%
2021 SEGMENT, END MARKET AND GEOGRAPHY
33
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
23%
Packaging
19%
Industrial
16%
Building and
Construction
10%
Telecommunications
4%
Energy
2%
END MARKET REVENUE
(1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs
$2,402M
$409M
$919M
$164M
$1,631M
$94M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$581M$4,819M
(1)
Transportation
11%
Healthcare
15%
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
16%
Building &
Construction
10%
Transportation
9%
Energy
1% Telecommunications
1%
C O L O R , A D D I T I V E S & I N K S
2 0 2 1 R E V E N U E | $ 2 . 4 B I L L I O N
US & Canada
32%
EMEA
40%
Asia
21%
Latin America
7%
END MARKET REGION
34
All charts reflect 2021 financials
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
27%
Healthcare
10%
Packaging
7%
Telecommunications
16%
Transportation
11%
Industrial
11%
Building &
Construction
11%
Energy
7%
2 0 2 1 R E V E N U E | $ 9 1 9 M I L L I O N
END MARKET
US & Canada
55%
EMEA
25%
Asia
20%
REGION
35
All charts reflect 2021 financials
D I S T R I B U T I O N
Healthcare
26%
Consumer
23%
Packaging
5%
Industrial
20%
Transportation
16%
Building and
Construction
8%
Energy
1%
Telecommunications
1%
US & Canada
80%
Asia
3%
Latin
America
17%
END MARKET REGION
K E Y S U P P L I E R S
2 0 2 1 R E V E N U E | $ 1 . 6 B I L L I O N
36
All charts reflect 2021 financials
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
30%
Consumer
26%Healthcare
13%
Industrial
14%
Building &
Construction
5%
Telecommunications
2% Energy
2%
Asia
(16% of sales)
Transportation
8%
Packaging
32%
Consumer
13%
Healthcare
5%
Industrial
17%
Building &
Construction
12%
Telecommunications
5%
Energy
4%
EMEA
(25% of sales)
Transportation
12%
37
Consumer
25%
Healthcare
19%
Packaging
10%
Industrial
17%
Building &
Construction
10%
Telecommunications
4%
Energy
2%
US &
Canada
(50% of sales)
Transportation
13%
Packaging
38%
Consumer
33%
Healthcare
8%
Industrial
10%
Building &
Construction
5%
Telecommunications
1%
LATAM
(9% of sales)
Transportation
5%
All charts reflect 2021 financials
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/2021-09/avnt-q2-2021-earnings-presentation.pdf
ColorWorks innovation centers are specially
designed to foster imagination and enable
creative exploration of innovative solutions
• Focus on customers’ sustainability initiatives
through recyclability and post-consumer
recycled materials for packaging applications
• Supports 8-12% long-term revenue growth
expectations across our sustainable solutions
portfolio
8
2020 Pro forma $870 $69
Sustainable Solutions 66 37% 26
Healthcare 29 20% 7
Composites 12 36% 6
Growth in Asia / LATAM 47 39% 11
Other 190 48% 22
Sub-total $1,214 40% $141
COVID Response Applications (15) (8)
FX Impact 36 4
Synergies 11
Incentives, Travel, Other Employee Costs (26)
2021 Actual $1,235 42% $122
Q2 2021 ORGANIC SALES AND OPERATING INCOME
( T O TA L C O M PA N Y )
9
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
Sales Growth Rate
Adjusted
Operating
Income$ millions
(1)
10
Q2 2020PF Q2 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)
(44% of total revenue)
(56% of total revenue)
Q2 END MARKET SALES PERFORMANCE
+26%
+38%
+46%
+103%
+51%
+9%
+7%
+67%
Energy Telecom Building &
Construction
Transportation Industrial Healthcare Packaging Consumer
Q2 YEAR-OVER-YEAR EBITDA BRIDGE
Q2 2020 Pro forma $ 106
Demand 69
11
Adjusted
EBITDA$ millions
• Demand impact driven by
growth in sustainable
solutions and consumer
products
• Price increases more than
offset raw material and
supply chain impacts
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
(1)
CAI:
Price / Mix 40
Inflation (32)
SEM:
Price / Mix 23
Inflation (18)
Distribution:
Price / Mix 81
Inflation (77)
Net Price Benefit 17
Supply Chain Disruptions (14)
COVID Response Applications (8)
Synergies 11
Incentives, Travel, FX, Other (22)
Q2 2021 Actual $ 159
Q1 2021 Actual $ 161
CAI:
Price / Mix 32
Inflation (22)
SEM:
Price / Mix 15
Inflation (9)
Distribution:
Price / Mix 50
Inflation (48)
Net Price Benefit 18
Supply Chain Disruptions (12)
Demand / Seasonality (6)
Other (2)
Q2 2021 Actual $ 15912
Adjusted
EBITDA$ millions
• Price increases more than
offset raw material and
freight inflation impacts
• Demand impact driven by
Q2 seasonality for the
business
Q1 TO Q2 SEQUENTIAL EBITDA BRIDGE
Q 3 A N D F U L L Y E A R
2 0 2 1 O U T L O O K
$74
$98
2020 2021E
$0.46
$0.68
2020 2021E
ORGANIC GROWTH PROJECTIONS – Q3
( T O TA L C O M PA N Y )
14
Sales Adjusted Operating Income
$925
$1,150
2020 2021E
+ 24%
Adjusted EPS
+ 32% + 48%
(in millions) (in millions)
FULL YEAR GUIDANCE INCREASED
15
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.
23
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 2 2 2
3 3 3
4
3
4 4 5 5 5 5
5 6
7
27
A
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e
n
t
A
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e
n
t
(E
xc
l.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
Median: 81% Median: 78%
H I G H F R E E C A S H F L OW
C O N V E R S I O N
Avient reflects 2021 estimated EBITDA of $580M and excludes one-time synergy capture CAPEX ($20M)
Source: Peer data per Bloomberg market data as of July 28, 2021
87
90
86
82
80 78
73
87
82 82
79 79 78 78 77 76
71
67
46
A
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A
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IF
F
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A
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C
L
A
L
B
(6)
Source: Peer data per Bloomberg market data as of July 28, 2021
Total Enterprise Value / 2021E EBITDA
Our current valuation with updated
guidance implies an EBITDA multiple
that is below specialty formulator
peers and the median of other
selected chemical / specialty
companies.
https://www.avient.com/industries/consumer/consumer-discretionary/outdoor-recreation/outdoor-adventure-gear
Complēt™ Moisture Resistant Nylons
Injection molded Complēt™ long carbon fiber reinforced nylon composite delivered high stiffness and low weight while simplifying manufacturing
Complēt™ long carbon fiber reinforced nylon composite replaced aluminum to provide better fatigue resistance and reduce weight
https://www.avient.com/products/long-fiber-technology/long-fiber-technologies/onforce-long-glass-fiber-reinforced-polypropylene-composites
OnForce™ Long Glass Fiber Nylon Composite provided a corrosion-resistant, long glass fiber-reinforced material for cleaner connector
Complēt™ Moisture Resistant Long Fiber Thermoplastic Nylons
Complēt™ Moisture Resistant Long Fiber Thermoplastic Nylons provide gradual moisture uptake to maintain structural properties longer