https://www.avient.com/sites/default/files/2025-01/AVNT Dec 2022 Earnings Presentation Updated.pdf
O P S )
21
Sales Adjusted EBITDA
$818
$823
2021 2022
+ 1%
Adjusted EPS
+ 8% - 3%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 5% excluding FX)
Q3 EBITDA BRIDGE
( P R O F O R M A T O TA L C O M PA N Y )
22
Price increases more than
offset raw material and
supply chain impacts
$ millions
CAI:
68Price / Mix
(44)Inflation
SEM:
41Price / Mix
(26)Inflation
39Net Price Benefit
(14)Wage and Energy Inflation
6Clariant Color Integration Synergies
14Incentives, Other Employee Costs
(11)FX
$137 Q3 2022
Adjusted
EBITDA
$ 142Q3 2021
(39)Demand
Q3 2022 SEGMENT PERFORMANCE
23
CAI
$587
$566
Sales
($ in millions)
$93 $93
EBITDA
SEM Pro Forma
$326 $319
Sales
$70
$62
EBITDA
(+ 4% excluding FX)
- 4% - 2%
(+ 5% excluding FX)
Flat
(+ 7% excluding FX)
- 11%
(- 7% excluding FX)
$500
$585
Cont.
https://www.avient.com/industries/consumer/consumer-discretionary/home-household/office-supplies
Bergamid™ polymer formulations and GLS™ TPEs replace metal and provide comfort and usability for Swiss soldiers pocket knife
Bergamid™ polymer formulations and GLS™ TPEs replace metal and provide comfort and usability for Swiss soldiers pocket knife
https://www.avient.com/sites/default/files/2020-09/sustainabilityreport2018.pdf
Sustainability
Value
Impact
2018 Sustainability Report
2 Sustainability Report | 2018
About PolyOne
Message from the CEO 3
About Us: Vision and Values 4
Historic Transformation / Inspired Future 6
Our Sustainability Message
What We Do / Where We Do It 8
Where We Are 10
Communities Counting on PolyOne 12
Sustainability @ PolyOne 14
PolyOne’s 4 Ps of Sustainability 15
People
Safety First 17
Security 19
Talent Acquisition and Leadership Development 20
Career Training and Performance Feedback 21
Leadership Development Programs 22
Diversity & Inclusion 24
Associate Benefits 29
Awards & Recognition 30
Health & Wellness 31
A Great Place to Work 32
Products
Innovation: The Lifeblood of a Specialty Organization 35
How Our Products Enable Sustainability 37
Mergers & Specialty Acquisitions 46
Our Solutions in Action: Product Case Studies 50
Product Stewardship & Excellence 56
Supplier Collaboration 58
Planet
Environmental Stewardship 60
Energy & Emissions 62
Impact of LSS / Renewable Energy 64
Waste Management 66
Community Service 68
Community Engagement 70
Performance
Performance Overview 73
Sustainable Products Performance 75
The Highest Ethical Standards 76
Enterprise Risk Management 79
Board of Directors 80
Appendix
Environmental Data / GRI Content Index 81
Reconciliation of Non-GAAP Financial Measures 92
Contents
Sustainability Report | 2018 3
At no greater time in the history of PolyOne has
sustainability been such an influential force, and at the
same time, a tremendous opportunity.
NYMAX™ AND BERGAMID™ RECLAIMED NYLON
FORMULATIONS offer high strength, durability and impact
resistance, all while enabling landfill waste reduction of
>21M pounds since 2016, by providing an alternative use for
post-industrial reclaimed nylon*.
Through our design expertise, deep material
science resources, and the energy and passion of our
associates, PolyOne is well placed to help organizations
such as GV2020 achieve their goals and make the world a
better place to live.”
70 Sustainability Report | 2018
Avon Lake, United States
Our Avon Lake Community Service Team plans
quarterly community service events for any
associate to participate.
https://www.avient.com/sites/default/files/2021-04/avient-sustain-2019-210419-interactive.pdf
Louis, Missouri
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Goals & Metrics | Indices
Sustainability Report | 2019 26
0
35
70
105
140
Talent Acquisition and Campus Recruiting
Attracting top talent in all regions of the world is paramount for both meeting the current challenges our customers
face, as well as building experience within Avient and our industry—to meet the needs of the future.
GHG Emissions (MT)
Greenhouse Gas Emissions (MT Scope 1 & 2 GHG)
Greenhouse Gas Emissions Intensity (MT 1 & 2 GHG/ MT Production)
0
60,000
120,000
180,000
240,000
300,000
2016 2017 2018* 2019*
.45
.40
.35
.30
.25
.20
.15
.10
.05
0
.43
.35
.38
.34
Total Energy (GJ)
Energy Intensity (MWh/MT Production)
Total Energy
0
200,000
400,000
600,000
800,000
1,000,000
2016 2017 2018 2019
1.10
1.00
.90
.80
.70
.60
.99
.86
.91
.85
*Excludes divested PP&S segment and is consistent with the GHG Protocol Corporate Accounting
and Reporting Standard.
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Goals & Metrics | Indices
Sustainability Report | 2019 70Sustainability Report | 2019 70
https://endplasticwaste.org/about/
https://endplasticwaste.org/about/
https://www.opcleansweep.org
Earth Day Photo Contest
To celebrate Earth Day this year, we challenged our Avient associates to share
photos they have taken that depict and celebrate the Earth’s beauty.
https://www.avient.com/sites/default/files/2020-10/2019-avient-sustainability-report.pdf
Louis, Missouri
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Goals & Metrics | Indices
Sustainability Report | 2019 26
0
35
70
105
140
Talent Acquisition and Campus Recruiting
Attracting top talent in all regions of the world is paramount for both meeting the current challenges our customers
face, as well as building experience within Avient and our industry—to meet the needs of the future.
GHG Emissions (MT)
Greenhouse Gas Emissions (MT Scope 1 & 2 GHG)
Greenhouse Gas Emissions Intensity (MT 1 & 2 GHG/ MT Production)
0
60,000
120,000
180,000
240,000
300,000
2016 2017 2018* 2019*
.45
.40
.35
.30
.25
.20
.15
.10
.05
0
.43
.35
.38
.34
Total Energy (GJ)
Energy Intensity (MWh/MT Production)
Total Energy
0
200,000
400,000
600,000
800,000
1,000,000
2016 2017 2018 2019
1.10
1.00
.90
.80
.70
.60
.99
.86
.91
.85
*Excludes divested PP&S segment and is consistent with the GHG Protocol Corporate Accounting
and Reporting Standard.
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Goals & Metrics | Indices
Sustainability Report | 2019 70Sustainability Report | 2019 70
https://endplasticwaste.org/about/
https://endplasticwaste.org/about/
https://www.opcleansweep.org
Earth Day Photo Contest
To celebrate Earth Day this year, we challenged our Avient associates to share
photos they have taken that depict and celebrate the Earth’s beauty.
https://www.avient.com/sites/default/files/2020-10/tpe-overmold-design-guide.pdf
Flow Length, inches (cm)
Series Injection Velocity, 3 in/s (8 cm/s) Injection velocity, 5 in/s (13 cm/s)
DynaflexTM D 13-15 (33-38) 18-20 (46-51)
DynaflexTM G 12-22 (30-56) 18-30 (46-70)
VersaflexTM 9-16 (23-41) 13-26 (33-66)
VersalloyTM 18-20 (46-51) 30-32 (76-81)
VersollanTM 12-17 (30-43) 19-22 (48-56)
*Spiral flow tests performed using a 0.0625" (1.6 mm) thick, 0.375" (9.5 mm) wide channel at 400˚F (204˚C).
TPE mold temperatures of 70-120˚F (21-49˚C)
are typical.
TPE mold temperatures of 70-120˚F (21-49˚C)
are typical.
https://www.avient.com/sites/default/files/2023-07/Avient-2022-Sustainability-Report.pdf
Visit Our Sustainability Site
for More Information
LEARN MORE
As a founding member of the Alliance to End Plastic Waste, Avient will collaborate to develop and implement solutions to end plastic waste with
over 70 members across the value chain.
Rania, India 70.
cf_chl_jschl_tk__=pmd_3412acbd59c39f87411637add4665efb8a0aab18-1626893562-0-gqNtZGzNAg2jcnBszQe6
Global Giving
Over 2,600 Avient associates participated in our inaugural Global Giving campaign, ser ving more than 100 communities and
benefitting 70 non-profit and charity organizations around the world.
https://www.avient.com/sites/default/files/resources/Innovation_Day_-_May_2014_0.pdf
Richardson
Executive Vice President, Chief Financial Officer
PolyOne Corporation Page 15
Track Record of Accelerated Growth
Total Revenue Adjusted EPS Adjusted EBITDA
$2,061
$2,506
$2,709
$2,861
$3,771
2009 2010 2011 2012 2013
($ in millions, except EPS )
$105
$179
$202
$255
$344
2009 2010 2011 2012 2013
$0.13
$0.68
$0.82
$1.00
$1.31
2009 2010 2011 2012 2013
PolyOne Corporation Page 16
$0.31
$0.44
$0.20
$0.30
$0.40
Q1 2013 Q1 2014
Adjusted EPS
$42
$60
$20
$40
$60
Q1 2013 Q1 2014
Specialty Operating Income
($ millions)
Q1 2014 Financial Highlights
Growth momentum accelerates
driven by specialty platform
Specialty segments and
Distribution achieve record results
All segments increase operating
income compared to prior year
Revenue grew 25% versus
Q1 2013
+43%
+42%
$57
$79
$30
$60
$90
Q1 2013 Q1 2014
Adjusted Operating Income
($ millions)
+39%
PolyOne Corporation Page 17
Commitment to Operational Excellence
81%
96%
2006 2013
16.2%
10.9%
2006 2013
On-Time Delivery
Working Capital % of Sales
5.0%
31.0%
2006 2013
Percent of Associates Trained in LSS
Three consecutive years – CFO Magazine
Best Working Capital Management
Program in the chemical industry
World’s Best Business
Process Excellence
Program in 2012*
95 certified Black Belts
211 certified Green Belts
422 Project Leaders
World’s Best “Start-up
Program” for Lean Six Sigma
Deployment in 2009*
*Both awards received from International Quality and Productivity Center
PolyOne Corporation Page 18
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
*TTM 12/31/2013
** includes US-qualified pension plans only
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
PolyOne Corporation Page 19
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million shares in
Q1 2014
Repurchased 6.4 million
shares since April 2013
13.6 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 20
3.07 3.05
1.81
1.45
1.82
1.54
0.85
3.15
1.17
1.69
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
0.91
PolyOne
Valuation Aspirations
PEG Ratio Comparison
Represents $38 of
share price upside
Avg = 1.96
PolyOne Corporation Page 21
Innovating for the Future
Dr.
https://www.avient.com/sites/default/files/2024-03/AVNT February IR Presentation_w_Non-GAAP Recs_v2.pdf
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/sites/default/files/resources/8.31.19%2520Investor%2520Presentation.pdf
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 ?