https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-june-2021-w-non-gaap-recs_0.pdf
我们是同一个 Avient。6 BETTER TOGETHER: POLYONE AND CLARIANT MASTERBATCH Key Financial Data (1) 2021E Sales $4.3 billion 2021E EBITDA $560 million 2021E Free Cash Flow $275 million 88% of EBITDA from specialty applications (1) As of April 30, 2021 webcast Synergies ($ millions) Three-Year Estimate Administrative $ 20 Sourcing 30 Operational 25 Total Synergies $ 75 7 CLARIANT COST SYNERGIES • On-track to realize $45 million of expected synergies in 2021 – up from previous estimate of $35 million • Relentless focus on guiding principles for acquisition integration: safety first, employee collaboration and exceeding customer expectations • Future revenue synergies in excess of $50 million by 2025 are not part of these estimates and represent additional growth over the long term 8 • Barrier technology • Functional additives • Processing aids • Flame retardants • Light-weighting additives Complementary Technologies • Clariant’s approved formulations and certified facilities • Legacy PolyOne’s leading share in distribution channels Healthcare Solutions • Clariant’s position in SE Asia, Latin America, Germany & Italy • Legacy PolyOne’s position in U.S., Canada and China Regional Strengths • Solutions with Avient’s engineered materials customers • Avient’s distribution channels Segment Cross-selling COMPLEMENTARY TECHNOLOGIES AND CUSTOMERS DRIVE REVENUE SYNERGIES Revenue synergy opportunities in excess of $50MM by 2025 The complementary aspects of our combined businesses are unquestionable. This innovation drives performance and is reflective of consistent, strategic investments in our portfolio…and people. 2020 Pro forma $991 $86 Sustainable Solutions 15 11% 6 Healthcare 28 22% 6 Composites 6 10% 3 Growth in Emerging Regions 44 30% 10 Other 53 10% 7 Sub-total $1,137 15% $118 FX Impact 25 - 2 Synergies - - 11 Incentives, Travel, Other Employee Costs - - (8) 2021 Actual $1,162 17% $123 Q1 2021 ORGANIC SALES AND OPERATING INCOME 18 (1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition Sales Growth Rate Operating Income$ millions 19 Wire & Cable Transportation Industrial Healthcare Packaging Consumer Q1 2020PF Q1 2021 (2) Financial information is presented on a constant currency basis (1,2) (42% of total revenue) (58% of total revenue) Q1 END MARKET SALES PERFORMANCE +17% +14% +8% +10% +8% +22% +5% +24% Q 2 AN D FU LL Y EA R 2021 O U TLO O K A S O F A P R I L 3 0 , 2 0 2 1 W E B C A S T $69 $112 $0.42 $0.80 ORGANIC GROWTH PROJECTIONS – Q2 21 Sales Adjusted Operating Income $870 $1,100 + 26% + 62% + 90% (1) (1) (1) (1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition FULL YEAR GUIDANCE INCREASED 22 Sales Adj. APPENDIX Performance Additives Pigments TiO2 12% Dyestuffs 4%Polyethylene Nylon Polypropylene Other Raw Materials Styrenic Block Copolymer ~1/3 hydrocarbon based (Grey shaded materials are hydrocarbon based, includes portion of “Other Raw Materials”) Non-hydrocarbon based materials 31 • Exiting 2020, the majority of hydrocarbon based raw material markets were experiencing price inflation and tight inventory • Winter Storm Uri in the Gulf Coast caused further stress on the situation for 2021 • Raw materials most impacted include polyethylene, polypropylene and nylon • We purchase over 8,000 different raw materials to formulate our customized solutions and unique specifications Annual Purchases RAW MATERIAL UPDATE Based on 2020 pro forma purchases, excludes Distribution business SEGMENT DATA U.S. & Canada 50% 26% 16% Latin America 2020 SEGMENT, END MARKET AND GEOGRAPHY 33 GEOGRAPHY REVENUESEGMENT FINANCIALS 21%Industrial Building & Electrical & END MARKET REVENUE All data reflects 2020 Pro forma for acquisition of the Clariant Masterbatch business. (1) The total company sales and EBITDA of $3,783M and $457M, respectively, include intercompany sales eliminations and corporate costs $2,043M $331M $709M $124M $1,110M $70M Sales EBITDA Distribution Specialty Engineered Materials Color Additives and Inks $457M$3,783M 35% 14% Building & Electrical & C O L O R , A D D I T I V E S & I N K S 2020 PF REVENUE | $2 .0 BILLION 31% 40% 22% Latin America END MARKET REGION 34 2020 figures Pro forma for acquisition of the Clariant Masterbatch business S P E C I A LT Y E N G I N E E R E D M AT E R I A L S 24% Wire & Cable(1) 24% Electrical & 13% 11% Building & 2020 REVENUE | $709 MILLION END MARKET 58% 19% REGION 35 (1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling DI S TR IBU T I ON 2020 REVENUE | $1 .1 B ILL ION 25% 20% 14% Electrical & Building & 1% 82% Latin America END MARKET REGION K E Y S U P P L I ER S 36 TOTA L C O M PA N Y R E G I O N A L S A L E S BY END MARKET 32% 27% 12% Building & Electrical & 9% (16% of sales) 34% 16%Healthcare 17% Building & Electrical & (26% of sales) 2020 figures Pro forma for acquisition of the Clariant Masterbatch business 37 26% 19% 13% 16% Building & Electrical & US & Canada (50% of sales) 45% Building & Electrical & 2% Wire & Cable 1% LATAM (8% of sales) Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except for per share data) 2021年3月31日 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Adjusted Results Income from continuing operations before income taxes $ 102.6 $ 2.4 $ 105.0 Income tax expense - GAAP (22.9) — (22.9) Income tax impact of special items — (0.9) (0.9) Tax adjustments — 1.1 1.1 Net income attributable to noncontrolling interests (0.4) — (0.4) Net income from continuing operations attributable to Avient shareholders $ 79.3 $ 2.6 $ 81.9 Net income / EPS $ 0.86 0.03 $ 0.89 Weighted-average diluted shares 92.2 92.2 92.2 Reconciliation to Consolidated Statements of Income 2021年3月31日 Operating income - GAAP $ 120.4 Special items in operating income 2.4 Adjusted Operating income $ 122.8 1 Business Segment Operations March 31, Year Ended 2021年12月31日 2020 2020 2019 2018 Sales: Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5 Specialty Engineered Materials 216.5 185.3 708.8 745.7 645.8 Distribution 362.7 289.5 1,110.3 1,192.2 1,265.4 Corporate and eliminations (26.2) (19.8) (79.9) (79.0) (76.7) Sales $ 1,162.3 $ 711.5 $ 3,242.1 $ 2,862.7 $ 2,881.0 Gross margin: Color, Additives and Inks $ 197.5 $ 89.4 $ 484.4 $ 338.4 $ 353.4 Specialty Engineered Materials 64.7 52.6 207.6 200.2 171.7 Distribution 39.3 33.6 124.0 132.1 125.8 Corporate and eliminations 0.9 (4.1) (31.7) (13.5) (26.1) Gross margin $ 302.4 $ 171.5 $ 784.3 $ 657.2 $ 624.8 Selling and administrative expense: Color, Additives and Inks $ 108.7 $ 48.9 $ 303.6 $ 191.0 $ 194.9 Specialty Engineered Materials 30.5 30.3 113.2 116.5 99.4 Distribution 15.3 14.2 54.5 56.7 54.3 Corporate and eliminations 27.5 25.3 123.7 136.2 97.6 Selling and administrative expense $ 182.0 $ 118.7 $ 595.0 $ 500.4 $ 446.2 Operating income: Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5 Specialty Engineered Materials 34.2 22.3 94.4 83.7 72.3 Distribution 24.0 19.4 69.5 75.4 71.5 Corporate and eliminations (26.6) (29.4) (155.4) (149.7) (123.7) Operating income $ 120.4 $ 52.8 $ 189.3 $ 156.8 $ 178.6 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8 Specialty Engineered Materials 42.0 29.8 124.4 113.2 95.5 Distribution 24.2 19.5 70.2 75.9 72.2 Corporate and eliminations (24.9) (28.0) (146.2) (144.3) (119.3) Other income, net 1.5 1.6 24.3 12.1 (12.9) EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3 EBITDA as a % of Sales: Color, Additives and Inks 19.1 % 20.0 % 17.0 % 18.9 % 19.4 % Specialty Engineered Materials 19.4 % 16.1 % 17.6 % 15.2 % 14.8 % Distribution 6.7 % 6.7 % 6.3 % 6.4 % 5.7 % 2 Reconciliation of Pro Forma EBITDA - Color, Additives and Inks Three Months Ended March 31, Year Ended 2021年12月31日 2020 2020 2019 2018 Sales: Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5 Clariant MB pro forma adjustments(1) — 279.4 540.4 1,118.6 1,209.8 Pro forma sales $ 609.3 $ 535.9 $ 2,043.3 $ 2,122.4 $ 2,256.3 Operating income: Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5 Clariant MB pro forma adjustments(1) — 23.0 45.0 72.9 80.3 Pro forma operating income $ 88.8 $ 63.5 $ 225.8 $ 220.3 $ 238.8 Depreciation & amortization: Color, Additives and Inks $ 27.4 $ 10.9 $ 75.1 $ 42.7 $ 44.3 Clariant MB pro forma adjustments(1) — 15.1 30.1 60.3 61.2 Pro forma depreciation & amortization $ 27.4 $ 26.0 $ 105.2 $ 103.0 $ 105.5 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8 Clariant MB pro forma adjustments(1) — 38.1 75.1 133.2 141.5 Pro forma EBITDA $ 116.2 $ 89.5 $ 331.0 $ 323.3 $ 344.3 Pro forma EBITDA as a % of Sales 19.1 % 16.7 % 16.2 % 15.2 % 15.3 % 2020年3月31日 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Adjusted Clariant MB Pro Forma Adjustments(1) Pro Forma Adjusted Sales $ 711.5 $ — $ 711.5 $ 279.4 $ 990.9 Operating income 52.8 9.7 62.5 23.0 85.5 Interest expense, net (9.4) — (9.4) (12.8) (22.2) Other income, net 1.6 (0.1) 1.5 — 1.5 Income taxes (11.9) (1.0) (12.9) (2.4) (15.3) Net income from continuing operations attributable to Avient shareholders $ 33.1 $ 8.6 $ 41.7 $ 7.8 $ 49.5 Weighted average diluted shares 86.7 Impact to diluted shares from January 2020 equity offering 6.1 Weighted average diluted shares 92.8 EPS $ 0.53 (1) - Pro forma adjustments for the periods prior to the acquisition date (2020年7月1日) and to give effects of the financing for the acquisition 3 Three Months Ended June 30, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Adjusted Clariant MB Pro Forma Adjustments(2) Pro Forma Adjusted Sales $ 609.1 $ — $ 609.1 $ 261.1 $ 870.2 Operating income $ 38.0 $ 9.0 $ 47.0 $ 22.0 $ 69.0 Interest expense, net (16.2) — (16.2) (5.3) (21.5) Other income, net 9.5 (0.3) 9.2 — 9.2 Income taxes (7.9) 0.7 (7.2) (3.8) (11.0) Net income attributable to non controlling interests (0.4) — (0.4) — (0.4) Net income from continuing operations attributable to Avient shareholders $ 23.0 $ 9.4 $ 32.4 $ 12.9 $ 45.3 Weighted average diluted shares 91.8 Impact to diluted shares from January 2020 equity offering 15.3 Pro forma weighted average diluted shares 107.1 Pro forma adjusted EPS $ 0.42 (2) - Pro forma adjustments for the periods prior to the acquisition date (2020年7月1日) and to give effects of the financing for the acquisition Year Ended December 31, Reconciliation to Adjusted EBITDA 2020 2019 2018 Net income from continuing operations – GAAP $ 133.8 $ 75.7 $ 87.4 Income tax expense 5.2 33.7 14.4 Interest expense 74.6 59.5 62.8 Debt extinguishment cost — — 1.1 Depreciation and amortization from continuing operations 115.0 78.1 72.6 EBITDA $ 328.6 $ 247.0 $ 238.3 Special items, before tax 66.2 61.7 59.5 Interest expense included in special items (10.1) — — Accelerated depreciation included in special items (3.2) — (3.0) Adjusted EBITDA $ 381.6 $ 308.7 $ 294.8 4 2020年12月31日 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Adjusted Clariant MB Pro Forma Adjustments(3) Pro Forma Adjusted Sales $ 3,242.1 $ — $ 3,242.1 $ 540.4 $ 3,782.5 Operating income $ 189.3 $ 73.7 $ 263.0 $ 45.0 $ 308.0 Interest expense, net (74.6) 10.1 (64.5) (18.1) (82.6) Other income, net 24.3 (17.6) 6.7 — 6.7 Income taxes (5.2) (41.4) (46.6) (6.2) (52.8) Net income attributable to noncontrolling interests (1.8) — (1.8) — (1.8) Net income from continuing operations attributable to Avient shareholders $ 132.0 $ 24.8 $ 156.8 $ 20.7 $ 177.5 Weighted average diluted shares 90.6 Impact to diluted shares from January 2020 equity offering 1.5 Pro forma weighted average diluted shares 92.1 Pro forma adjusted EPS $ 1.93 Reconciliation of Pro Forma Adjusted EBITDA from continuing operations Operating income and other income, net $ 213.6 $ — $ 56.1 $ 269.7 $ 45.0 $ — $ 314.7 Depreciation and amortization 115.0 (3.2) 111.8 30.1 141.9 EBITDA from continuing operations $ 328.6 $ 52.9 $ 381.5 $ 75.1 $ 456.6 2019年12月31日 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Adjusted Clariant MB Pro Forma Adjustments(1) Pro Forma Adjusted Sales $ 2,862.7 $ — $ 2,862.7 $ 1,118.6 $ 3,981.3 Operating income $ 156.8 $ 71.7 $ 228.5 $ 72.9 $ 301.4 Interest expense, net (59.5) — (59.5) (33.4) (92.9) Other income, net 12.1 (10.0) 2.1 — 2.1 Income taxes (33.7) (5.9) (39.6) (9.1) (48.7) Net income attributable to noncontrolling interests (0.2) — (0.2) — (0.2) Net income from continuing operations attributable to Avient shareholders $ 75.5 $ 55.8 $ 131.3 $ 30.4 $ 161.7 Weighted average diluted shares 77.7 Impact to diluted shares from January 2020 equity offering 15.3 Pro forma weighted average diluted shares 93.0 Pro forma adjusted EPS $ 1.74 Reconciliation of Pro Forma Adjusted EBITDA from continuing operations Operating income and other income, net $ 168.9 $ — $ 61.7 $ 230.6 $ 72.9 $ — $ 303.5 Depreciation and amortization 78.1 — 78.1 60.3 138.4 EBITDA from continuing operations $ 247.0 $ 61.7 $ 308.7 $ 133.2 $ 441.9 (3) - Pro forma adjustments for the periods prior to the acquisition date (2020年7月1日) and to give effects of the financing for the acquisition 5 Avient IR Presentation - June 2021.pdf Avient IR Presentation - June 2021 w Non GAAP Recs.pdf Avient IR Presentation - May 2021 w Non-GAAP Recs.pdf AVNT First Quarter 2021 Earnings Presentation.pdf AVNT First Quarter 2021 Earnings Presentation.pdf AVNT First Quarter 2021 Earnings Presentation.pdf AVNT First Quarter 2021 Earnings Presentation.pdf 4.29 127pm Q1 21 IR Deck Version non-GAAP Recs (002).pdf
https://www.avient.com/sites/default/files/2020-07/tpes-for-healthcare-industry-bulletin.pdf
VERSAFLEX™ HC MEDICAL TUBING SERIES • Improve extrusion rates, achieve high service temperature performance or increase clarity in medical tubing • Meet biopharmaceutical needs for weldability and minimize extractables during processing VERSALLOY™ HC SERIES • Obtain better flow in long, thin paths and lower shrink rates versus typical TPVs with our alloys, made with Santoprene™ TPV • Color easily and obtain a smooth tactile feel VERSAFLEX™ HC GASKETS & STOPPERS SERIES • Achieve no coring, good puncture and resealability in static stoppers • Meet low COF and low stiction requirements in dynamic seals CL E SERIES • Increase clarity and flexibility in bags, bottles and films • Mitigate risk with plasticizer-free formulations for film extrusion • Deliver excellent odor & O2 barrier performance for film extrusion INDUSTRY BULLETIN TPE HEALTHCARE PRODUCT SELECTOR GUIDE Versaflex™ HC MT Series Versaflex™ HC MT222 Clear 66A 0.88 14 - 334 2.30 629 4.34 898 6.19 430 220 36 ✔ ✔ High clarity, without plasticizersVersaflex™ HC MT224 Clear 75A 0.89 19 - 468 3.23 773 5.33 1360 9.40 530 321 56 ✔ ✔ Versaflex™ HC MT226 Clear 84A 0.88 20 - 606 4.17 885 6.10 1600 11.00 600 433 76 ✔ ✔ Versaflex™ HC MT317 Clear 68A 0.89 17 69 450 3.10 660 4.55 870 6.00 470 221 39 ✔ ✔ Very high service temperature Versaflex™ HC BT218 Natural 67A 0.89 19 69 381 2.60 683 4.70 1186 8.20 608 - - ✔ ✔ Weldable, kink resistant Versaflex™ HC Gaskets & Stoppers Series Versaflex™ HC 2110-35N Natural 34A 0.90 19 47 145 1.00 261 1.80 400 2.76 620 97 17 ✔ ✔ Good resealing Versaflex™ HC 2110-43N Natural 43A 0.98 12 46 134 0.92 368 2.54 723 4.98 710 - - ✔ ✔ Good compression set Versaflex™ HC 2110-57B Black 59A 1.01 20 37 369 2.54 558 3.85 537 3.70 350 147 26 ✔ ✔ Low stiction Versaflex™ CL E Series Versaflex™ CL E85 Clear 84A 0.90 20 72 752 5.18 1160 8.00 1550 10.70 450 433 76 ✔ ✔ High clarity, without plasticizers; E95 also offers excellent odor & O2 barrier Versaflex™ CL E90 Clear 90A 0.90 27 73 1000 6.89 1230 8.50 1830 12.60 57 - - ✔ ✔ Versaflex™ CL E95 Clear 95A 0.90 38 71 1680 11.60 1730 11.90 2500 17.20 580 720 126 ✔ ✔ Versaflex™ HC 3810 Series Versaflex™ HC 3810-20N Natural 20A 0.88 16 54 123 0.80 185 1.30 342 2.40 650 - - ✔ - Formulated without animal derivatives, excellent colorability, translucent Versaflex™ HC 3810-30N Natural 30A 0.89 18 58 170 1.20 245 1.70 459 3.20 680 - - ✔ - Versaflex™ HC 3810-40N Natural 40A 0.88 19 59 191 1.30 275 1.90 506 3.50 670 - - ✔ - Versaflex™ HC 3810-50N Natural 50A 0.89 21 61 264 1.80 366 2.50 699 4.80 690 - - ✔ - Versaflex™ HC 3810-60N Natural 60A 0.88 24 65 459 3.20 594 4.10 790 5.40 510 - - ✔ - Versaflex™ HC 3810-70N Natural 70A 0.88 28 67 535 3.70 684 4.70 1000 6.90 570 - - ✔ - Versaflex™ HC 3810-80N Natural 80A 0.88 30 67 689 4.80 869 6.00 1390 9.60 620 - - ✔ - Versaflex™ HC 3810-90N Natural 90A 0.88 27 89 1087 7.50 1350 9.30 1890 13.00 570 - - ✔ - Versalloy™ HC 9210 Series Versalloy™ HC 9210-45N Natural 45A 0.89 19 39 160 1.10 320 2.20 484 3.33 480 100 18 - ✔ Smooth surface aestheticsVersalloy™ HC 9210-55N Natural 53A 0.89 20 44 208 1.44 335 2.31 580 4.00 610 120 21 - ✔ Versalloy™ HC 9210-70N Natural 70A 0.89 23 53 356 2.45 510 3.52 780 5.38 590 180 32 - ✔ Versalloy™ HC 9220 Series Versalloy™ HC 9220-70 Natural 70A 0.95 17 51 453 3.12 - - 643 4.43 265 208 36 ✔ ✔ ExtrudableVersalloy™ HC 9220-80 Natural 80A 0.94 18 59 553 3.67 777 5.36 945 6.52 415 208 36 ✔ ✔ Versalloy™ HC 9220-90 Natural 90A 0.94 25 55 1030 8.13 1350 9.33 1945 13.45 620 400 70 ✔ ✔ Standard Healthcare Grades Versaflex™ G2705N Natural 60A 0.88 - - - - 528 3.64 670 4.62 470 - - ✔ ✔ Natural, high strength Versaflex™ CL 2242 Clear 43A 0.89 23 - 152 1.05 294 2.02 731 5.00 780 124 22 ✔ ✔ High clarity, boilable Versaflex™ CL 2250 Clear 50A 0.89 20 - 220 1.52 337 2.32 827 5.70 770 140 25 ✔ ✔ Versaflex™ OM Series Versaflex™ OM 1040X Natural 42A 0.92 22 - 180 1.24 301 2.08 504 3.47 580 100 18 ✔ ✔ ABS/PC overmoldVersaflex™ OM 3060 Clear 59A 0.90 33 - 420 2.90 360 2.48 500 3.45 480 180 32 ✔ ✔ Color Hardness Specific Gravity Compression Set @ 23°C Compression Set @ 100°C 100% Modulus 300% Modulus Tensile Strength Elongation Tear Strength ISO 10993 USP VI Special Characteristics ASTM Shore A ASTM/ISO ASTM % ASTM % ASTM psi Mpa ASTM psi Mpa ASTM psi ISO Mpa ASTM % ASTM pll ISO kN/m GENERAL PROPERTIES TENSILE PROPERTIES OTHER For further information on specific grades, review technical data sheets.