https://www.avient.com/sites/default/files/2025-01/ColorWorks Sao Paulo Case Study Snapshot _Portuguese.pdf
E M P RE S A L Í D E R E M
B E N S DE C O N S U M O
E M B A L A G E M – C U I D A D O S
C O R P O R A I S
• Ofereça um retorno rápido em novos designs para
melhorar a velocidade de lançamento no mercado
• Crie consistência visual e identidade de marca ao navegar
pelos esforços de desenvolvimento com partes externas
• Entregue orientação sobre tendências de cores
• Entregamos mais de 20 cores personalizadas e
aprovadas, utilizando o conhecimento do
mercado e das tendências
• Empregamos sessões de colaboração virtuais e
no local para uma resposta rápida a decisões
cruciais sobre cores
• Trabalhamos com todas as partes necessárias,
incluindo empresas de design, fabricantes e
equipes de engenharia interna para proteger a
integridade da marca
Centros de design e tecnologia ColorWorks
– São Paulo
PRINCIPAIS REQUISITOS
POR QUE A AVIENT?
https://www.avient.com/sites/default/files/2022-08/AVNT Aug 2022 Presentation - Jefferies.pdf
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
A U G U S T 2 0 2 2
D I S C L A I M E R
2
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.
EPS (ex Amort) 3.96$ 0.13$ 4.09$ (0.58)$ 3.51$
Pro Forma Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.6x 3.4x 2.8x
Forecast Dyneema
Forecast +
Dyneema
Sale of
Distribution
Pro Forma
2022
TWO-YEAR LEVERAGE MODEL
20
3.5x
2.7x
1.6x
2.8x
2.4x
2.0x
2019PF 2020PF 2022E 2022PF 2023E 2024E
Dyneema® AcquisitionClariant Color Acquisition
(1) Pro forma for the acquisition of the Clariant Color business
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of
Distribution, including repayment of senior notes due 2023 and Term Loan
(1) (1) (2)
OUR SPECIALTY JOURNEY CONTINUES
21
• Dyneema® brings leading technology and brand with
the World’s Strongest Fiber™, deep history of
application development and strong
management team focused on specialty
applications
• Dyneema® transaction is aligned with our previously
stated acquisition goal of expanding our composites
and fiber capabilities
• Similar to our other technology expansion
acquisitions, Dyneema® allows us to leverage our
invest-to-grow strategy
• The possible sale of our Distribution business also
presents potential benefits with respect to leverage
and EBITDA margins
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)
Healthcare
4%
Packaging
8%
Consumer
10%
Building &
Construction
43%
Industrial
15%
Transportation
14%
Energy
4%
Telecom.
2%
2006 2022 Pro forma
Healthcare
8%
Packaging
23%
Consumer
21%
Building &
Construction
10%
Industrial
15%
Transportation
9%
Energy
4%
Telecom.
4%
Defense
6%
END MARKET TRANSFORMATION TO LESS
CYCLICAL INDUSTRIES
( W I T H D Y N E E M A , E X .
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Distribution business
D Y N E E M A A C Q U I S I T I O N
32
15x stronger than steel
Reduces weight by 30% vs. other solutions
Well-maintained global asset base poised to serve growing demand
• Purchase price of $1.48B represents 11.4x multiple of
2022 EBITDA
• Acquisition will expand Avient’s composites and fiber
portfolio with Dyneema®, the World’s Strongest Fiber™
• $415M sales and 30%+ EBITDA margins; Immediately
accretive to pro forma 2022 EPS, adding $0.35
• 1,300 patents globally, ~50% of sales patent protected
• 1,000+ employees across global production network and
dedicated technology centers
• Composites platform will increase from $261M to $680M in
revenue and from $49M to $180M in EBITDA Indicates Dyneema
® location
$175M
(42%)
$65M
(16%)
$175M
(42%)
2022E Sales By Region ($M)
(1) $0.35 EPS excludes intangible amortization
(2) Based on 2022 expected results
(1) (2)
(2)
F I T W I T H F O U R P I L L A R S T R AT E G Y
33
Specialization
• Innovation-led organization with
tremendous intellectual property value in
trademarks, patents and “know-how”
• Deep history of application development
and premium, leading brand with the
World’s Strongest FiberTM
Globalization
• Global customer base with an
established presence across all major
geographic regions
• Global technology centers complement
existing Composites applications and
expertise
Operational
Excellence
• Best-in-class safety performance
• Well-run and maintained asset base fit to
serve future growth
• Highly effective and reliable supply chain
with emphasis on optimizing service to
customers
Commercial
Excellence
• Deep customer relationships extend
across the value chain and drive ability
to grow
• Offer a full suite of services with an active
role in design, development and
commercialization
People
Experienced and
talented associates
with a passion for
safety, specialization
and winning
DY N E E M A ® OV E RV I E W
K E Y I N D U S T R I E S
PERSONAL PROTECTION
Military • Law Enforcement • First
Responders Body Armor • Helmets •
Vehicle Protection
$215M
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
$130M
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
$70M
34 Figures reflect 2022 expected sales
MIFOverview Competition
Value chain &
Go-to-market
Strategy Innovation Financials
TECHNOLOGY
35
1,200 1,300
2,500
Avient Dyneema Combined
Patents
• True specialty business – the World’s Strongest Fiber™
• Deep history of application development with customers,
strongest in the industry
• The only UHMwPE (ultra-high molecular weight polyethylene)
fiber producer that is backward integrated
o Provides innovation advantage through control of all steps of the process
• Complementary with our existing reinforced film expertise
(PolyStrand) and engineered fiber presences (Fiber-Line)
WINNING PROPERTIES
Ultra high strength vs. weight Highly flexible
Floats on water Chemically inert; no smell/taste and non-toxic
High resistance to UV radiation Self-lubricating, with low friction
One-of-a-kind technology
®
FORMULATION PROCESS
36
• Like Avient, Dyneema® offers similar
core competencies around formulation
and material science
• Technology that combines polymers and
fibers to provide specialized, high
performing solutions for customers
• Design capabilities ensure that
applications are highly customized for
the specified end use
DYNEEMA ® IN THE VALUE CHAIN
37
UHMwPE
Fiber / Tapes
Military Personnel,
Law Enforcement
Heavy Marine,
Offshore Wind Energy
and Mooring,
Aquaculture
Outdoor,
Footwear, Apparel,
Inflatables
• Material Science
• Formulation
• Service
INTERMEDIATE MANUFACTURING
(CUSTOMERS) OEM / APPLICATION
DEMAND TRENDS
38
• Military spending and near-term demand for higher performing personal protection
products (like Dyneema®) expected to increase
o European NATO members annual defense spend expected to increase by up to 20%(1)
o Japan aiming to almost double defense spending over the next 5 years(2)
o Accelerated launch of next generation technology in North America
• Policy-driven demand for sustainable energy; growth in floating offshore wind
farms which require advanced, durable technology
o Offshore wind expected to grow at a CAGR of 32% with the level of annual installations
quadrupling over the next five years(3)
• Continued investment in aquaculture as a sustainable food source(4)
• Strong demand in outdoor high performance space across niche consumer
applications aligns with 10% growth assumption for Avient’s Composites portfolio
Sources:
(1) “Funding NATO”, NATO.int (April 1, 2022)
(2) “Japan Ruling Party Calls for Defense Spending Boost to 2% of GDP”, WSJ (April 21, 2022)
(3) “Global Wind Report 2021”, Global Wind Energy Council
(4) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries
39
A L I G N M E N T W I T H
S U S T A I N A B I L I T Y G O A L S
P RO D U C T S
AVIE NT ’S E XIS T ING COM P OS IT E S P ORT F OL IO
D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G
M A N U F A C T U R E R S A N D O E M S
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
40
AV I E N T ’ S C O M P O S I T E S P O RT F O L I O
S A L E S A N D E B I T DA
41
$74 $84
$216 $212
$261
$5 $10
$32
$41
$49
$180
0
50
100
150
200
$-
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
$550
$600
$650
$700
$750
2017 2018 2019 2020 2021 2022E
$680
($ in millions)
• Dyneema® acquisition will further
improve Composites EBITDA margins
to 26%
• Dyneema® will complement our
existing portfolio with deep formulation
expertise, innovative culture and
global commercial presence
• Composites will continue to be a key
growth driver to deliver future revenue
growth in excess of GDP
(1) Pro forma for the acquisition of Dyneema®
(1)
SEGMENT DATA
U.S. & Canada
50%
EMEA
25%
Asia
16%
Latin America
9%
2021 SEGMENT, END MARKET AND GEOGRAPHY
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%
43
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
44
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
45
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
46
All charts reflect 2021 financials
T O T A L C O M P A 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%
47
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/2020-10/demystifing-cmf-brochure.pdf
COLOR, MATERIAL & FINISH DESIGN SERVICE
FIVE WAYS TO BRING CLARITY TO COLOR, MATERIAL
& FINISH SELECTION
D E M Y S T I F Y I N G C M F
FINDING THE RIGHT BALANCE BETWEEN LOOK,
FEEL AND FUNCTION IS IMPORTANT
BUT CHALLENGING
N E A R LY 9 0 % O F A L L P U R C H A S E D E C I S I O N S A R E M A D E S U B CO N S C I O U S LY.
If it looks great, but can’t be manufactured or costs
too much, development dies on the vine.
5 COMMON OBSTACLES
B R A N D S F A C E W I T H E V E R Y C M F C H O I C E
D E S I G NC
H
A
L
L
E
N
G
E
S
DESIGN MOTIVATES
D E S I G N I L L U M I N A T E S
COMPARATIVE
STUDIES
HOW WE CAN HELP
O U R P R O C E S S L E A D S T O E D U C AT E D D E S I G N C H O I C E S
TRENDS &
INSIGHTS
OPERATIONS
SUPPORT
DESIGN
SERVICES
POLYMER
INNOVATIONS
Avient Design works with you to find inspiration specific
to your product and your needs.
DESIGN MOTIVATES
D E S I G N I L L U M I N A T E S
VISUALIZING
COLOR, MATERIAL
& FINISH SELECTION
W E ’ V E D E V E LO P E D A TO O L T H AT
A L LO W S Y O U TO S E T T H E C R I T I C A L
FA C TO R S F O R Y O U R P R OJ E C T,
A L LO W I N G Y O U TO M A K E I N T E L L I G E N T
C M F D E C I S I O N S A N D A CC E L E R AT E
D E V E LO P M E N T.
https://www.avient.com/sites/default/files/2023-08/AVNT August IR Presentation w NonGAAP Recs%5B40%5D.pdf
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
A U G U S T 2 0 2 3
D I S C L A I M E R
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.
W H AT W E D O : W E A R E A F O R M UL ATO R
6
CUSTOM
FORMULATION
J U LY 2 7 , 2 0 2 3
W E B C A S T
P R E S E N TA T I O N
COMPOSI TES PORTF OL IO
D Y N E E M A ® E X P A N D S O U R E N G I N E E R E D F I B E R S A N D P A N E L S
T E C H N O L O G Y
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
8
DEFENSE TELECOMMUNICATIONS ENERGY TRANSPORTATION
Military • Law Enforcement
First Responders
Body Armor • Helmets
Vehicle Protection
Sustainable Infrastructure
Offshore Wind
Electrical Grid Protection
EV Battery Components
Commercial Laminates
Body & Trim • Air Cargo and
Railroad Car Panels
5G Applications
Fiber Optic Cables
Satellite Communications
Connectors and
Components
9
COMPOSI TES SERVE D IV ER SIF IED
END MAR KETS
INDUSTRIAL
Lifting Slings • Aquaculture
High Pressure Pipe
Conveyer Springs
Q 2 P E R F O R M A N C E
Q2 2023 PERFORMANCE VS.
Global Compact
• Highlights ESG Performance, including
ratings, awards, and certifications
• Features increased carbon emissions
disclosures, including Climate Change Scenario
Analysis and Scope 3 emissions data
• Outlines Sustainable Supplier Program,
designed to enable supplier evaluation &
collaboration
• Reflects Great Place To Work® culture focused
on safety, employee engagement and
advancing diversity, equity and inclusion
20 22 SUSTAI NA BILI TY REPORT
19
Avient Confidential 20
• Virtual presentation to be held
September 20, 2023
• Leadership will be conducting
an investor-focused
presentation around our
sustainable solutions portfolio
• Deep dive into how we enable
customers to achieve their
sustainability goals
SUSTAINABILITY DAY
20
…are Growing at Twice the Rate as
Conventional Products
Sustainably-Branded Products…
STAKEHOLD ER INFLUENC E D RI VES D EMA ND
Consumers
Are demanding
recyclability and eco-
conscious products
Governments
Are mandating changes
through legislation, taxes,
and regional accords
Brand Owners
Have committed to
ambitious goals to achieve
sustainability metrics
21
A P P E N D I X
24
Performance
Additives
16%
Pigments
12%
TiO2
10%
Dyestuffs
2%
Polyethylene
11%
Nylon
6%
Polypropylene
5%
Styrenic Block
Copolymer
5%
Other Raw
Materials
33%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
2022 pro forma results for the acquisition of Avient Protective Materials
RA W MATERI AL BA SKET
PEER COMPARISONS
AVI ENT I S ASSET LI GHT
Capex / Revenue
2023E (%)
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
Source: Peer data per Bloomberg as of August 17, 2023
Note: Avient reflects 2023 estimated revenue of $3,280 and estimated run-rate CAPEX of $110M.
26
3
2
3 3
4 4
3
4
5 5
7 7
9
10
A
vi
e
n
t
K
W
R
P
P
G
F
U
L
A
V
Y
R
P
M
F
M
C
H
U
N
C
E
E
C
L
A
S
H
H
X
L
E
M
N
S
C
L
FR EE CA SH FLOW CONV ER SION
Source: Peer data per Bloomberg as of August 17, 2023
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
NYSE: AVNT)
AVIENT CORPORATION
I N V E S T O R M E E T I N G S
M A Y 2 0 2 2
D I S C L A I M E R
2
Forward-Looking Statements
In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Purchase price multiple rapidly declining on strength of
business and synergy capture
(1)
(1)
(1) Financial information is pro forma to include a full year of Clariant Color acquisition
($ 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)
38
CULTURE AND PEOPLE
39
O U R S P E C I A LT Y J O U R N E Y C O N T I N U E S
40
• Dyneema® brings leading technology and brand with the World’s
Strongest Fiber™, deep history of application development and
strong management team focused on specialty applications
• Dyneema® transaction is aligned with our previously stated acquisition
goal of expanding our composites and fiber capabilities
• Similar to our other technology expansion acquisitions, Dyneema®
allows us to leverage our invest-to-grow strategy
• We plan to explore a possible sale of our Distribution business.
Our free cash flow supports
shareholder value creation through
investing in R&D for organic growth,
completing bolt-on acquisitions, and
returning cash to shareholders via our
dividend program and opportunistic
share repurchases.
44 1.
https://www.avient.com/sites/default/files/2022-03/Asia SEM Healthcare Product Selection Guide %281%29.pdf
MATERIAL DESCRIPTION BASE RESIN
Trilliant™ HC2020 Copolyester
Trilliant™ HC8910/8920 Polyketone/ABS blend
Trilliant™ HC2120 Tritan
Trilliant™ HC3120 PC
Trilliant™ HC5210 PP
Trilliant™ HC6010 PA6
Trilliant™ HC6610 PA66
Trilliant™ GRV-NP-110-W PA12
TRILLIANT™ HC THERMOPLASTICS
• Chemically resistant replacement for FR PC/ABS,
FR PC/PET & FR COPE, providing UL 94 Yellow
Card V-0 flame rating at 1.5 mm, V-1 at 0.75 mm
thicknesses for a broad color spectrum
• Outperforms PC/ABS, PC/PET and COPE in
resistance to common disinfectants
• Retains tensile strength after 72-hour exposure
to common hospital disinfectants, and shows
better long-term chemical resistance as
compared to PC blends and COPE
• Exhibits good impact and temperature resistance
• Available in natural grades, standard medical
colors, or custom pre-colored products
Applications:
• Medical device housings
• MRI, X-ray, CT scanner components
• Surgical instruments such as staplers, dissectors,
scissors
• Auto-injector pen
TRILLIANT™ HC
ELECTRICALLY
CONDUCTIVE
FORMULATIONS
• Consistent conductivity ensures repeatable
part performance and minimizes failures
related to inconsistent electrical conductivity
• High flow and easy processing facilitate filling
of thin wall parts and multiple cavity tools,
which enable faster cycle times and lower
per-unit part costs
• Superior durability reduces breakage and
resultant scrap related costs
• Less tendency to flash results in improved
appearance and less fluid retention in or on
the tip, thus driving greater accuracy and less
potential for cross-contamination
• High strength produces parts with greater
stiffness and warp resistance, again
minimizing scrap-related costs
Applications:
• Conductive pipette tips
TEST
TEMS
SPECIFIC
GRAVITY
MELT FLOW
RATE
(230OC,
2.16KG)
TENSILE
STRENGTH
FLEXURAL
STRENGTH
FLEXURAL
MODULUS
IMPACT
STRENGTH
NOTCHED,
IZOD
SURFACE
RESISTIVITY
Method ASTM D-792 ASTM D-1238 ASTM D-638 ASTM D-790 ASTM D-790 ASTM D-256 ASTM D-257
Unit -- g/10min MPa MPa MPa J/m Ohms/sq.
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202018.pdf
I N V E S T O R D A Y
O R L A N D O , F L O R I D A | M A Y 2 0 1 8
F O R W A R D
L O O K I N G
S T A T E M E N T S
PolyOne Corporation 2
In this presentation, statements that are not reported financial results
or other historical information are “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
Garratt
Senior Vice President &
Chief Commercial Officer
João José San Martin Neto
Senior Vice President and
Chief Human Resources Officer
Cathy Dodd
Vice President
Marketing
Mark Crist
Senior Vice President,
President of Color, Additives & Inks
Lisa Kunkle
Senior Vice President,
General Counsel & Secretary
Chris Murphy
Vice President,
Research & Development,
Chief Innovation Officer
T H E L E A D E R S B E H I N D T H E T E A M
PolyOne Corporation 6
Robert M.
Leverage
PolyOne’s
global reach
Phase 1
Phase 2
Phase 3
18-20%
operating
margins
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 98
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
243
335
At Acquisition Today
$36
$90
At Acquisition Today
11%
20%
At Acquisition Today
Established Acquisitions
(> 7 years)
+ 40% + 150% + 900 bps
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 99
Commercial
Resources
Operating
Income (millions)
53
109
At Acquisition Today
187
214
At Acquisition Today
3
12
At Acquisition Today
$12
$45
At Acquisition Today
$22
$42
At Acquisition Today
$2
$4
At Acquisition Today
Acquisition #1
(10 years)
Acquisition #3
(7 years)
Acquisition #2
(9 years)
EBITDA
Multiple
10.5x
3.0x
At Acquisition Today
11.1x
7.6x
At Acquisition Today
4.9x
2.8x
At Acquisition Today
10%
23%
At Acquisition Today
11%
17%
At Acquisition Today
21%
30%
At Acquisition Today
Return on Sales
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 100
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
17
44
65
At Acquisition Today Goal
$0 $0
$25
At Acquisition Today Goal
0% 0%
20%
At Acquisition Today Goal
Advanced Composites
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 101
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
96
100
141
At Acquisition Today Goal
$16
$18
$36
At Acquisition Today Goal
11% 12%
18-20%
At Acquisition Today Goal
Recent Color Acquisitions
PolyOne Corporation 102
Average
Company Size
# of
Possibilities
Rationale
250
• Local to regional footprint
• Niche technology focus
• Concentrated customer base
$50M–$200M 150
• Regional to global footprint
• 1–3 specialty technologies
• Diversified customer base
>$200M 30
• Global footprint with local service
• Diverse specialty technologies
• Highly diversified customer & market
portfolio
S T R O N G P I P E L I N E
D R I V E N B Y F R A G M E N T E D M A R K E T
S U M M A R Y
PolyOne Corporation 103
Proven track record with specialty acquisitions using
invest-to-grow strategy
Our approach to integration differentiates PolyOne in
a competitive M&A market
Trusted brand and reputation
Buyer of choice
Robust pipeline with a range of opportunities that fit
our strategy
F I N A N C I A L
R E V I E W
B R A D R I C H A R D S O N
PolyOne Corporation 104
PolyOne Corporation 105
A D J U S T E D E P S E X P A N S I O N
2009 2010 2011 2012 2013 2014 2015 2016* 2017*
C O N S E C U T I V E
Y E A R S
8
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
*Pro Forma for sale of DSS
PolyOne Corporation 106
S T R A T E G I C C A S H D E P L O Y M E N T
ORGANIC GROWTH
Investing in R&D and
capacity
11
Maintenance
40%
Strategic Growth
Investments
60%
Capital Expenditures
M&A OPPORTUNITIES
Continued pursuit of strategic bolt
on acquisitions that expand
specialty offerings
2
SHAREHOLDER RETURN
Dividends and share buybacks3
Over $400
million
M&A Spending
Since 2014
$809
million
Share Repurchases
2011-Q1 2018
60%
Increase in annual
dividend over next three
years
2011 2013 2015 2017
2006 2017
“Where we were” “Where we are”
ROIC 5.0% 14.0%
Operating Income % of Sales
Color, Additives & Inks 1.7% 15.5%
Specialty Engineered Materials 1.1% 12.1%
Performance Products &
Solutions 4.3% 10.7%
Distribution 2.6% 6.3%
P R O O F O F P E R F O R M A N C E
E X P A N D I N G M A R G I N S & R O I C
PolyOne Corporation 107
531
680130
153
504
618
2014 Q1 2018
R&D / Technical Marketing Sales
I N V E S T M E N T I N C O M M E R C I A L R E S O U R C E S D R I V I N G R E S U L T S
PolyOne Corporation 108
Increased commercial headcount
Largest organic revenue growth
since recession
$2.9 $2.9
$3.2
2015 2016 2017
Revenue in billions of $
+ 28%
+ 18%
+ 23%
Total + 10%
Organic + 7%
S U S T A I N A B L E P A T H T O D O U B L E - D I G I T E P S G R O W T H
PolyOne Corporation 109
P E O P L E P R O D U C T S P L A N E T P E R F O R M A N C E
Double digit
annual EPS
growth
Expand specialty portfolio
with strategic acquisitions
Innovate and develop new
technologies and services
Repurchase 600K-1M
shares annually
Increase commercial
resources 6-8% annually
Double acquired
company margins
Enhance efficiencies
through Lean Six Sigma
and commercial excellence
6.3%
14.0%
15.0%
16-17%
2009 2017 Platinum Vision Updated Expectations
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 110
R O I C D R I V E S S H A R E H O L D E R R E T U R N
6.3%
14.0%
15.0%
16-17%
2009 2017 Platinum Vision Updated Expectations
PolyOne Corporation 111
$570
$1,650 $1,750
$2,000
2009 2017 Platinum Vision Updated Expectations
ROIC
Invested Capital
($ in millions)
Improving ROIC + Expanding Invested Capital = Outperforming the Market
C O N C L U S I O N
B O B P A T T E R S O N
PolyOne Corporation 112
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS)
from continuing operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf
Microsoft PowerPoint - AVNT Q4 2023 Earnings Presentation v7
AVIENT CORPORATION
F O U R T H Q U A R T E R 2 0 2 3 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)
F E B R U A R Y 1 4 , 2 0 2 4
D I S C L A I M E R
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.
ASHISH KHANDPUR
P R E S I D E N T & C E O
4
5
PORTFOLIO TRANSFORMATION
5
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
7
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%
8
TRANSPORTATION
10%
INDUSTRIAL
16%
BUILDING &
CONSTRUCTION 9%
CONSUMER
19%
PACKAGING
23%
9
REGIONAL OBSERVATIONS
( % O F C O M PA N Y S A L E S )
9
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
13
Q4 2023 SEGMENT PERFORMANCE
14
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 )
15
$ 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
17
Q1 Adjusted EPS of $0.68
A P P E N D I X
20
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
RAW 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%
22
(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
23
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%
24
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%
25
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/2023-03/AVNT Q2 2022 Earnings Presentation - Website Version.pdf
Microsoft PowerPoint - AVNT Q2 2022 Earnings Presentation
AVIENT CORPORATION
S E C O N D Q U A R T E R 2 0 2 2 R E S U L T S
(NYSE: AVNT)
J U L Y 2 6 , 2 0 2 2
D I S C L A I M E R
2
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.
EPS (ex Amort) 3.96$ 0.13$ 4.09$ (0.58)$ 3.51$
Pro Forma Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.6x 3.4x 2.8x
Forecast Dyneema
Forecast +
Dyneema
Sale of
Distribution
Pro Forma
2022
TWO-YEAR LEVER AGE MODEL
16
3.5x
2.7x
1.6x
2.8x
2.4x
2.0x
2019PF 2020PF 2022E 2022PF 2023E 2024E
Dyneema® AcquisitionClariant Color Acquisition
(1) Pro forma for the acquisition of the Clariant Color business
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of
Distribution, including repayment of senior notes due 2023 and Term Loan
(1) (1) (2)
OUR SPEC IA LTY JOURNEY C ONTINUES
17
• Dyneema® brings leading technology and brand with
the World’s Strongest Fiber™, deep history of
application development and strong
management team focused on specialty
applications
• Dyneema® transaction is aligned with our previously
stated acquisition goal of expanding our composites
and fiber capabilities
• Similar to our other technology expansion
acquisitions, Dyneema® allows us to leverage our
invest-to-grow strategy
• The possible sale of our Distribution business also
presents potential benefits with respect to leverage
and EBITDA margins
7%
46%
66%
86%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2021 2022 PF
%
o
f A
d
ju
st
e
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)
Healthcare
4%
Packaging
8%
Consumer
10%
Building &
Construction
43%
Industrial
15%
Transportation
14%
Energy
4%
Telecom.
2%
2006 2022 Pro forma
Healthcare
8%
Packaging
23%
Consumer
21%
Building &
Construction
10%
Industrial
15%
Transportation
9%
Energy
4%
Telecom.
4%
Defense
6%
END MAR KET TR ANSF OR MATION TO LESS
CYCLI CAL INDUSTRI ES
( W I T H D Y N E E M A , E X .
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
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%
24
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
25
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
26
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
27
All charts reflect 2021 financials
T O T A L C O M P A 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%
28
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/resources/Investor%2520Presentation%2520Mar19.pdf
Investor Day
P O L Y O N E
I N V E S T O R
P R E S E N T A T I O N
M A R C H 2 0 1 9
F O R W A R D L O O K I N G S T A T E M E N T S
PolyOne Corporation 2
•
•
•
•
•
•
•
•
•
•
U S E O F
N O N - G A A P
M E A S U R E S
PolyOne Corporation 3
•
•
•
V I S I O N
PolyOne Corporation 4
To be the world’s
premier provider of
specialized polymer
materials, services and
solutions
C O R E
V A L U E S
P E R S O N A L
V A L U E S
Honesty IntegrityRespect
Operational
Excellence
Commercial
Excellence
Specialization
Globalization
Collaboration ExcellenceInnovation
To be the world’s
premier provider of
specialized polymer
materials, services
and solutions
S A F E T Y F I R S T
PolyOne Corporation 5
Injuries per 100 Workers
Spartech
Acquisition
1.3
1.1 1.1
0.85
0.65
0.57
0.54
0.97
0.84
0.74 0.74
0.69
0.51
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
PolyOne Corporation 6
P O L Y O N E
2 0 1 8 R E V E N U E | $ 3 . 5 B I L L I O N
Transportation
17%
Industrial
15%
Consumer
12%
Packaging
11%
Wire & Cable
10%
Appliance
5%
United States
57%
Europe
16%
Asia
10%
Latin
America
10%
Canada
7%
Distribution
35%
Performance Products &
Solutions 19%
Specialty
Engineered
Materials
17%
Color
Additives &
Inks 29%
Segment End Market Geography
Building &
Construction
11%
Electrical &
Electronics
6%
Healthcare
13%
2009 2010 2011 2012 2013 2014 2015 2016* 2017* 2018
$2.43
P R O O F O F P E R F O R M A N C E
C O N S E C U T I V E
Y E A R S
PolyOne Corporation 7
9
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
2006 2018
ROIC** 5.0% 14.1%
Operating Income
% of Sales
Color, Additives &
Inks
1.7% 15.1%
Specialty Engineered
Materials
1.1% 11.2%
Performance
Products
& Solutions
4.3% 10.0%
Distribution 2.6% 5.6%
A D J U S T E D E P S E X P A N S I O N
S U S T A I N A B L E P A T H T O D O U B L E - D I G I T E P S G R O W T H
PolyOne Corporation 8
P E O P L E P R O D U C T S P L A N E T P E R F O R M A N C E
Double digit
annual EPS
growth
strategic acquisitions
Innovate
600K-1M
commercial
resources 5-7%
Double acquired
margins
Lean Six Sigma
commercial excellence
531
710
130
164
504
663
2014 2018
R&D / Technical Marketing Sales
PolyOne Corporation 9
Increased commercial headcount
+ 34%
+ 26%
+ 32%
I N V E S T M E N T I N C O M M E R C I A L R E S O U R C E S D R I V I N G G R O W T H
Sustained revenue increases led
by organic business
$2.9 $2.9
$3.2
$3.5
2015 2016 2017 2018
Total
+ 9%
Organic
+ 5%
Revenue in billions of $
Total
+ 10%
Organic
+ 7%
Lead
Specialists
T H E E V O L V I N G C U S T O M E R R E L A T I O N S H I P
PolyOne Corporation 10
Expanded Path
Traditional Path
Strategic Accounts/
Field Sales
Business
Development
Customer
Service
Web and Social
Media
Inside Sales
PolyOne Corporation 11
Investments in digital and dedicated inside sales to
improve customer experience
110% increase in leads (from 6,000 to 12,700) driven
by website, phone, and online chat
E X P A N D E D P A T H
A D D I N G C U S T O M E R T O U C H P O I N T S
4
24
2014 2018
Inside sellers
$11M
$109M
2014 2018
Inside sales/digital revenue
A L I G N I N G W I T H T R E N D S F O R G R O W T H
T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R E C O N S U M E R
PolyOne Corporation 12
Facilitate
alternative
energy
solutions
Light-
weighting
Reduce
packaging
materials
Improve
recyclability
Reduce
spread of
infection
I N N O V A T I O N
PolyOne Corporation 13
Customization
55%
M&A
30%
Innovation
Pipeline
15%
Innovation comes from Research & Development Spend
Vitality Index
12%
35%
2006 2018
$20
$56
2006 2018
Transformational
Adjacent
Core
3 H O R I Z O N S O F D E V E L O P M E N T
PolyOne Corporation 14
Market
Technical
I N N O V A T I O N
I N N O V A T I O N P I P E L I N E
PolyOne Corporation 15
PrototypeFrame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
(since 2017)
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
6
11
4
4
3
2
28 0
5
10
7
2
5
5
Breakthrough
Platform
Derivative
F L A M E
R E T A R D A N T
P O L Y M E R S
A D V A N C E D
C O M P O S I T E S
B A R R I E R
M A T E R I A L S
C O L O R A N T
T E C H N O L O G I E S
T H E R M O P L A S T I C
E L A S T O M E R S
I N N O V A T I O N S P O T L I G H T :
C O M P O S I T E S
PolyOne Corporation 16
C O M P O S I T E S R E F R E S H E R
PolyOne Corporation 17
Fiber
Polymer
Composite
S T R A T E G I C I N V E S T M E N T H I S T O R Y
Thermoplastic Composites
Long Fiber Reinforced Thermoplastics
Continuous Fiber Thermosets
Long Fiber Reinforced Thermoplastics
Continuous Fiber Thermosets
2012 2015 20162009 2011 2018
PolyOne Corporation
2019
18
C O M P O S I T E S I N T R A N S P O R T A T I O N
PolyOne Corporation 19
W A T E R C R A F TR A I L H E A V Y T R U C K
F I B E R - L I N E H I G H L I G H T S
PolyOne Corporation 20
$100M
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Customer
Value
Fiber-Line
Fiber Processing
Capabilities
Polymer Formulation
Capabilities
P O L Y O N E A P P L I C A T I O N S I N F I B E R O P T I C C A B L E S
PolyOne Corporation 21
•
•
•
•
•
•
•
•
•
F I B E R O P T I C A L G R O W T H D R I V E R S
PolyOne Corporation 22
5G Networks
10x
8x
5G vs. 4G
PolyOne Corporation 23
Safety Technology Geography Service FinancialPeople
8-10% with
ability to double
I N V E S T - T O - G R O W M & A S T R A T E G Y
PolyOne Corporation 24
Capture
sourcing
synergies
Cross-sell
& blend
technology
8-10%
operating
margins
I N V E S T - T O - G R O W M & A P L A Y B O O K
Protect
customers
Retain
employees
Implement LSS to
drive efficiency
improvements
Innovate with
combined
portfolio
Safety
First!
Leverage
PolyOne’s
global reach
Phase 1
Phase 2
Phase 3
18-20%
operating
margins
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 25
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
243
340
At Acquisition Today
$36
$96
At Acquisition Today
11%
20%
At Acquisition Today
Established Acquisitions
(> 7 years)
+ 40% + 165% + 900 bps
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 26
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
138
181
251
At Acquisition Today Goal
$23 $25
$70
At Acquisition Today Goal
7%
8%
18-20%
At Acquisition Today Goal
Recent Acquisitions
PolyOne Corporation 27
Average
Company Size
# of
Possibilities
Rationale
$200M
•
•
•
S T R O N G P I P E L I N E
D R I V E N B Y F R A G M E N T E D M A R K E T
$0
$150
$300
$450
$600
$750
$900
2011 2012 2013 2014 2015 2016 2017 2018
$890M
R E T U R N I N G C A S H T O S H A R E H O L D E R S
O V E R $ 1 . 2 B I L L I O N S I N C E 2 0 1 1
PolyOne Corporation
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.54
$0.70
$0.78
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
3-Year Dividend Plan
Cumulative Share Repurchases Increasing Annual Dividend
28
6.3%
14.1%
16-17%
2009 2018 Updated Expectations
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 29
PolyOne Corporation 30
W H Y I N V E S T I N P O L Y O N E ?
T H E N E W P O L Y O N E : A S P E C I A L T Y G R O W T H C O M P A N Y
S E R V I C E :
T H E T I M E L E S S
D I F F E R E N T I A T O R
PolyOne Corporation 31
T A L E N T D E V E L O P M E N T
PolyOne Corporation 32
Leadership Program Participants
2012
2013
2014
2015
47
0
86
2016
2018
125
169
315
Campus Hires
2008
2011
2014
2017
0
25
90
47
PolyOne LSS Blackbelts
2008
2011
2014
2018
0
67
220
147
2018 141
A U N I Q U E C U S T O M E R E X P E R I E N C E
Industrial
Design
I Q D E S I G N L A B S
PolyOne Corporation 33
Material
& Color
Expertise
Manufacturing
Expertise
3
14
2014 2018
Industrial designers
$0
$10M
2014 2018
$4M
$80M
2014 2018
Opportunity funnel New business revenue
L S S C U S T O M E R F I R S T
PolyOne Corporation 34
Customer Projects
2014 2018
2 104
3 D P R I N T I N G
B R I N G I N G N E W I D E A S T O L I F E
PolyOne Corporation 35
PolyOne Corporation 36
M O N T H M O N T H
M O N T H M O N T H
M O N T H M O N T H
99.9%
up to 24 weeks
6 hours
C O L O R M A T R I X S E L E C T ™
I N N O V A T I N G W I T H P O L Y O N E
PolyOne Corporation 37
S E G M E N T H I G H L I G H T S
C O L O R , A D D I T I V E S & I N K S
E N D M A R K E T S & S O L U T I O N S
PolyOne Corporation 38
Solid
Colorants
Performance
Additives
Screen
Printing Inks
Liquid
Colorants
Packaging
28%
Industrial
14%
Textiles
13%
Wire & Cable
11%
Building & Construction
10%
Transportation
8%
Consumer
8%
Healthcare
5%
Appliances
2%
Electrical &
Electronic 1%
Operating Income & MarginRevenue by Region
C O L O R , A D D I T I V E S & I N K S
2 0 1 8 R E V E N U E | O V E R $ 1 B I L L I O N
$4
$25
$104
$159
0.9%
5.5%
12.2%
15.1%
2005 2009 2013 2018
PolyOne Corporation 39
Europe
35%
United
States
45%
Asia
14%
Canada
1%
Mexico
3%
South
America
2%
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
E N D M A R K E T S & S O L U T I O N S
PolyOne Corporation 40
Engineered
Formulations
Advanced
Composites
Thermoplastic
Elastomers
Consumer
21%
Transportation
18%
Wire & Cable
13%Healthcare
9%
Industrial
9%
Packaging
7%
Appliance
3%
Building &
Construction 4%
Electrical &
Electronics
16%
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
Revenue by Region Operating Income & Margin
2 0 1 8 R E V E N U E | $ 6 4 6 M I L L I O N
PolyOne Corporation 41
$21
$57
$72
0.1%
5.1%
9.3%
11.2%
2005 2009 2013 2018
Europe
28%
United
States
46%
Asia
24%
Canada
2%
P E R F O R M A N C E P R O D U C T S & S O L U T I O N S
E N D M A R K E T S & S O L U T I O N S
PolyOne Corporation 42
Specialty Vinyl
Solutions
Healthcare
Formulations
Smart Device
Materials
Flame Retardant
Polymers
Building &
Construction
28%
Industrial
18%
Transportation
17%
Wire & Cable
16%
Consumer
7%
Appliance
6%
Packaging
4%
Electrical &
Electronics
4%
Asia
2%
United
States
78%
Mexico
5%
Canada
15%
P E R F O R M A N C E P R O D U C T S & S O L U T I O N S
Operating Income & MarginRevenue by Region
2 0 1 8 R E V E N U E | $ 7 3 6 M I L L I O N
$40
$24
$56
$74
4.6%
3.6%
7.2%
10.0%
2005 2009 2013 2018
PolyOne Corporation 43
D I S T R I B U T I O N
E N D M A R K E T S & S U P P L I E R S
PolyOne Corporation 44
Healthcare
27%
Transportation
22%
Industrial
18%
Consumer
12%
Appliance
6%
Electrical &
Electronics
5%
Building &
Construction
5%
Packaging
3%
Wire & Cable
2%
$20
$25
$63
$71
2.9%
4.0%
5.9%
5.6%
2005 2009 2013 2018
Operating Income & Margin2018 Revenue | $1.3 Billion
http://www.polyone.com/Pages/VariationRoot.aspx
O V E R V I E W O F R A W M A T E R I A L P U R C H A S E S
PolyOne Corporation 45
T A R G E T E N D M A R K E T S &
A P P L I C A T I O N E X A M P L E S
PolyOne Corporation 46
Thermally Conductive
Technologies
Chemical Resistant
Technologies
Polymer Colorants
Elastomeric Grips and
Handles
Structural Composites
Antimicrobial Technologies
Anti-Counterfeiting
Technologies
Target End Markets… Healthcare
Catheter Technologies
Under-hood Components
Target End Markets… Automotive
Interior Structural
Components
Sound & Vibration
Management
Roof Systems
Air Management
Electronics and Cameras
Lighting
Exterior / Interior Trim
Braces & Brackets
Fasteners
Seals & Flaps
Target End Markets… Consumer
Thermally Conductive
Components
Polymer Colorants
Elastomeric Grips and
Handles
Structural Composite
Components
Oxygen Scavenger
Technologies
Laser Marking Additives
Antistatic Technologies
UV Light Barrier Technologies
Cap & Closure Colorants
Process Optimization
Technologies
Antioxidant Technologies
Density Modified
Technologies
Target End Markets… Packaging
Luxury Packaging
GravitechTM Density Modified Polymers
Optimize Color Usage
OnColorTM Super Concentrates
Combat Bacteria Formation
WithStandTM Antimicrobial Technology
Medical Device Housings
Chemically Resistant Engineered Polymers
Color & Design Services
Outdoor Applications
Fiber Colorants
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS)
from continuing operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results.