https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520Sidoti%2520wNonGAAP%2520Rec.pdf
EPS: $1.20 Proforma Debt Maturities & Liquidity Summary – 12/31/12 (Reflecting Financing & Spartech Acquisition) • Total Debt at 12/31/12 h $1,010 $297 $360 $300 $400 Debt Maturities As of December 31, 2012 ($ millions) Less: Cash Net Debt 213 $797 $50 $297 $100 $200 • Available Liquidity Cash $213 $800 Debt Maturities As of December 31, 2012 P f f 2/13 Fi i $50 $0 2015 2017 2020 Interest Rates: 7.500% 5.000% 7.375% Cash ABL Availability Total Liquidity $213 271 $484 $600 $400 $600 Proforma for 2/13 Financing ($ millions) Total Liquidity • Net Debt / EBITDA = 2.0x* $484 $50 $360 $0 $200 • Net Debt / EBITDA = 2.35x** $50$0 2015 2020 2023 Page 14 Interest Rates: 7.500% 7.375% 5.250% *Assumes $65 million of synergies related to Spartech acquistion **Assumes no synergies related to Spartech acquistion Use of Cash Share DividendsOrganic G Acquisitions • Repurchased 1 2 Repurchase • Introduced a Dividends • Expanding our Growth T t th t d Acquisitions • Repurchased 1.2 million shares in 2012 • 20.0 million shares are il bl f • Introduced a quarterly dividend in Q1 2011 and increased in Q1 2012 (25%) and Q1 2013 (20%) • Expanding our sales, marketing, and technical capabilities is top priority • Investing in • Targets that expand our: • Specialty offering • End market presence • Geographic footprint available for repurchase under the current authorization Q1 2013 (20%) • Objective of maintaining and growing Investing in operational and LSS initiatives (including synergy capture) • CAPEX • Synergy opportunities • Adjacent material solutions Proforma Cash Balance = $213M N t D bt / EBITDA* 2 0X CAPEX Net Debt / EBITDA* = 2.0X *Adjusted EBITDA assumes synergies related to the Spartech acquisition are realized at close; preliminary synergies estimated at $65M and are expected to be achieved over a 3-year period Page 15 Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/POL%2520BofA%2520Basic%2520Materials%2520IR%2520Presentation%2520w%2520non-GAAP%252012%252011%25202013.pdf
EPS: $1.00 $0.28 $0.36 $0.20 $0.30 $0.40 Q3 '12 Q3 '13 Adjusted EPS $51.8 $72.4 $40.0 $60.0 $80.0 Q3 '12 Q3 '13 Adjusted Operating Income (millions) 40% $31.7 $55.3 $20.0 $40.0 $60.0 Q3 '12 Q3 '13 Specialty Operating Income (millions) Q3 2013 Financial Highlights • Adjusted EPS increased 29% over prior year • Adjusted Operating Income expanded 40% versus Q3 2012 • Specialty operating income up 74% • Revenue increases 43% versus Q3 2012 29% 74% Page 12 Significant Debt Maturities Other Debt Total Debt at 9/30/13 Less: Cash Net Debt Available Liquidity Cash ABL Availability Total Liquidity Net Debt / EBITDA* = 1.9x $48 $317 $600 $0 $100 $200 $300 $400 $500 $600 $700 $800 2015 2020 2023 Significant Debt Maturities As of 2013年9月30日 ($ millions) Page 13 Coupon Rates: 7.500% 7.375% 5.250% Debt Maturities & Liquidity Summary – 9/30/13 $ 965 22 $ 987 323 $ 664 $ 323 308 $631 *TTM 9/30/2013 Cash Balance = $323M Net Debt / EBITDA* = 1.9x • Repurchased 3.8M shares YTD in 2013 • 16.2 million shares are available for repurchase under the current authorization • Repurchased $45 million, par value, of higher coupon bonds YTD Share/Bond Repurchase • Announced a 33% increase in quarterly dividend on Dec 2, 2013; our third dividend increase • Objective of maintaining and growing Dividends • Expanding our sales, marketing, and technical capabilities is top priority • Investing in operational and LSS initiatives (including synergy capture) • North American manufacturing alignment • CAPEX Organic Growth • Targets that expand our: • Specialty offering • End market presence • Geographic footprint • Synergy opportunities • Adjacent material solutions Acquisitions *TTM 9/30/2013 Use of Cash Page 14 Why Invest In PolyOne?
https://www.avient.com/center-of-excellence/avient-europe-middle-east-and-africa
Kroklundsvägen 346 AX - 22 320 Ödkarby
https://www.avient.com/investor-center/news/polyone-signs-agreement-divest-performance-products-and-solutions-business-segment
$600 million
https://www.avient.com/investor-center/news/avient-provides-fourth-quarter-2020-updates
$600 million
https://www.avient.com/sites/default/files/2021-10/microbial-susceptibility-of-various-polymers-and-evaluation.pdf
A subset of samples was prepared utilizing a 2 � 600 (5.08 � 15.24 cm) mold, 0.12500 (3.175 mm) thickness containing light stipple texture (T-2102) on the A-side, and smooth surface on the B-side (Industrial Mold and Machine, Twinsburg, Ohio). TPE samples were prepared by injection molding of 5 � 600 (12.7 � 15.24 cm) plaques, 0.12500 (3.175 mm) thickness using a Milacron™ Roboshot™ S2000i (Milacron, Batavia, Ohio) with a polished mold surface. Samples were prepared via extrusion utilizing a Leistritz ZSE 27 mm co-rotating twin-screw extruder (Leistritz Advanced Technologies Corp., Nuremberg, Germany), followed by injection molding of 5 � 600 (12.7 � 15.24 cm) plaques, 0.12500 (3.175 mm) thickness using a Milacron™ Roboshot™ S2000i.1 For antimicro- bial testing, specified test specimens were prepared from the aforementioned plaques.
https://www.avient.com/sites/default/files/2024-06/SEM Asia Product Selection Guide.pdf
• Abrasion resistance • High performance for consumer electronics applications MATERIAL DESCRIPTION HARDNESS COLOR OVERMOLD DENSITY (g/cm3) PROPERTY KEY CHARACTERISTIC Versaflex™ CE 3120-65 65A Natural/ Black PC, ABS, Copolyester 1.15 Soft touch, silky feel and good abrasion performance Silky feeling Versaflex™ CE 3130-70 70A Natural PC, ABS, Copolyester 1.04 Silky feel, long-term life, excellent abrasion resistance, performed UV and stain resistance, chemical resistance Non-blooming Versaflex™ CE 3130-80 80A Natural PC, ABS, Copolyester 1.08 Silky feel, good abrasion performance and UV resistance Non-blooming Versaflex™ CE 3320-70 70A Clear PC, ABS, Copolyester 1.08 Excellent UV resistance, blue jean stain Super UV resistance, blue jean resistance Versaflex™ CE 3320-80 80A Clear PC, ABS, Copolyester 1.15 Excellent UV resistance, blue jean stain Excellent UV resistance Versaflex™ CE 3140-65 65A Natural PC, ABS, Copolyester 1.00 Excellent abrasion resistance, chemical resistance, silky feel 5G transparent Versaflex™ CE 3140-90 90A Natural PC, ABS, Copolyester 1.01 Excellent abrasion resistance, chemical resistance, silky feel 5G transparent VIBRATION DAMPING ELASTOMERS MATERIAL DESCRIPTION HARDNESS COLOR OVERMOLD DENSITY Versaflex™ VDT 4201-35N 35A Natural PP 1.00 Versaflex™ VDT 4202-40B 40A Black PP 1.00 Versaflex™ VDT 5120-40 40A Natural Nylon 1.09 Versaflex™ XP 5130 -65 65A Natural PC/ABS 1.03 Versaflex™ CE 3310-80 80A Clear PC/ABS 1.15 Thermoplastic elastomers that dampen vibrations via energy transfer • Excellent vibration damping performance (reduce noise/shaking) • Adhesion to various plastics PC, PC/ABS, ABS, PP • Colorable and translucent grades available • Effective in thin films HEALTHCARE TPEs Avient has performance-grade materials that are compliant with USP VI, ISO 10993-4 and 10993-5.
https://www.avient.com/sites/default/files/2020-11/investing-in-avient_0.pdf
SEGMENT HIGHLIGHTS 37% 22% 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 $9 $320 2005 2020PF 2.0% 15.9% 2020 figures Pro forma estimates for acquisition of the Clariant Masterbatch business 32% 39% Latin America END MARKET REGION EBITDA DOLLAR & MARGIN $5 $120 2005 2020E 59% 18% Wire & Cable(1) 25% Electrical & 14% Building & 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 2020E REVENUE | $700 MILLION 0.9% 17.1% END MARKET REGION EBITDA DOLLAR & MARGIN 25 (1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling 30% 24%Packaging Electrical & Building & 1% 79% Latin America END MARKET REGION EBITDA DOLLAR & MARGIN DISTRIBUTION 2020E REVENUE | $ 1 .1 BILLION $20 $70 2005 2020E 2.9% 6.3% KEY SUPPL IER S 26 AMERICAS EUROPE ASIA 26% 13% 16% Building & 5% Electrical & 35% 14%Healthcare 17% Building & Electrical & 32% 26% 12% Building & Electrical & 2020 figures Pro forma estimates for acquisition of the Clariant Masterbatch business TOTA L C O M PA N Y R E G I O N A L S A L E S BY END MARKET (58% of sales) (25% of sales) (17% of sales) 27
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Seaport%2520Global%2520Transports%2520%2526%2520Industrials%2520Conference.pdf
A reconciliation of each non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.polyone.com. 4 POLYONE CORPORATION What We Do Value Formulation Expertise Inputs Base resins Additives Modifiers Pigments Expertise in Polymer Materials, Services and Solutions OEMs Brand Owners Processers Assemblers Driving customer value with specialty products & services Service InVisiOSM Color Services IQ Design Labs LSS Customer First POLYONE CORPORATION 5 2016 Revenue ($3.3 Billion) by Segment At a Glance United States 65% Europe 12% Canada 8% Asia 8% Latin America 7% $0.13 $0.68 $0.82 $1.00 $1.31 $1.80 $1.96 $2.13 2009 2010 2011 2012 2013 2014 2015 2016 2016 Revenue by Geography 2016 Revenue by End Market Appliance 5% Building & Construction 11% Consumer 11% Electrical & Electronics 5% Healthcare 11% Industrial 15% Packaging 12% Textiles 2% Transportation 19% Wire & Cable 9% Adjusted Earnings Per Share Performance Products & Solutions 19% PolyOne Distribution 31% Designed Structures & Solutions 11% Specialty Engineered Materials 16% Color Additives and Inks 23% 6 POLYONE CORPORATION Returning Cash to Shareholders $0.16 $0.20 $0.24 $0.32 $0.40 $0.48 $0.54 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 2011 2012 2013 2014 2015 2016 2017 Annual Dividend* Since 2011, we have returned nearly $850 million to shareholders $150 million returned through dividends $697 million returned through share repurchases $697M $0 $150 $300 $450 $600 $750 2011 2012 2013 2014 2015 2016 Cumulative Share Repurchases (in millions) *Initiated in 2011 7 POLYONE CORPORATION 2% 43% 79% 0% 20% 40% 60% 80% 100% 2005 2010 2016 % o f O pe ra tin g In co m e* *Operating Income excludes corporate charges and special items Specialty OI $5M $87M $273M Mix Shift Highlights Specialty Transformation Specialty = ROS > 10% JV’s Performance Products & Solutions Specialty Distribution 8 POLYONE CORPORATION 2006 2016 2020 “Where we were” “Where we are” Platinum Vision Operating Income % of Sales Color, Additives & Inks 1.7% 16.0% 20%+ Specialty Engineered Materials 1.1% 14.3% 20%+ Performance Products & Solutions 5.5% 11.1% 12 – 14% Distribution 2.6% 6.4% 6.5 – 7.5% Designed Structures & Solutions N/A -0.9% 8 – 10% ROIC* 5.0% 12.9% 15% Proof of Performance & 2020 Platinum Vision *ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period Consistently Deliver Double Digit Annual EPS Growth POLYONE CORPORATION 9 2,883 2,538 2006 2016 Volume (lbs in millions) -12% $103 $200 2006 2016 Commercial, R&D and Marketing Spending ($M) +95% $88 $317 2006 2016 Adjusted Operating Profit ($M) +263% Ours is Not a Cost Cutting Story 10 POLYONE CORPORATION Innovation Drives Earnings Growth *Specialty Platform revenue from products introduced in last five years $20 $54 2006 2016 Research & Development Spending ($ millions) Specialty Platform Vitality Index Progression* 14% 33% 2006 2016 CAI & SEM Gross Margin 12% 42% 2006 2016 Target ≥ 35% Innovation Pipeline Potential 11 POLYONE CORPORATION Primary Industries Served 2016 Revenue: $3.3 Billion Electrical & Electronic 5% Building & Construction 11% Appliance 5% Industrial 15% Wire & Cable 9% Healthcare 11% Consumer 11% Packaging 12% Transportation 19% Focus End Markets 12 POLYONE CORPORATION Therma-Tech™ & Sheet GEON™ Vinyl Polymer Colorants Therma-Tech™ TPE’s & Film TPE + OnForce™ Gravi-Tech™ Page 12 Film Target End Markets… Healthcare 13 POLYONE CORPORATION Sound & Vibration Management Fuel Handling Systems Interior & Exterior Trim Structural Braces & Brackets Interior Structural Components Lighting Air management Electronics & Cameras Fluid Handling Target End Markets… Automotive Underhood Components Roof Systems 14 POLYONE CORPORATION PreservaPak™ OnColor™ Smart Batch™ VersaFlex™ TPE Cap Liner ColorMatrix™ Amosorb™ Oxygen Scavenger ColorMatrix™ Ultimate™ UV Light Barrier OnCap™ Laser Marking Additives Target End Markets… Packaging 15 POLYONE CORPORATION Source: Outdoor Industry Association TPE Vibration Dampening (SEM/GLS) TPE + OnForce (SEM) OnForce (SEM) Advanced Composites (SEM) TPE Vibration Dampening (SEM/GLS) Thermoplastic Elastomers (SEM) Advanced Composites (SEM) Polymer Colorants (CAI) Sheet (DSS) TPE & Film (SEM + DSS) Advanced Composites (SEM) Polymer Colorants (CAI) Thermatech (SEM) Thermoplastic Elastomers (SEM) TPE + OnForce (SEM) OnForce (SEM) Target End Markets… Consumer 16 POLYONE CORPORATION Free Cash Flow and Strong Balance Sheet Fund Investment / Shareholder Return Expanding our sales, marketing, and technical capabilities Investing in operational and LSS initiatives ~60 - 70% of capital expenditures fund growth initiatives Organic Growth Acquisitions Share Repurchases Dividends Targets that expand our: • Specialty offerings • End market presence • Geographic breadth Growth synergies Adjacent material solutions Repurchased 1.2 million shares in Q4 2016 Repurchased 18.8 million shares since early 2013 8.5 million shares are available for repurchase under the current authorization Increased annual dividend by 12.5% to $0.54 per share, representing the sixth consecutive year of dividend growth POLYONE CORPORATION 17 The New PolyOne: A Specialty Growth Company Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520KeyBanc%2520Conference%2520-%2520September%252014%25202016.pdf
PolyOne Corporation Page 3 PolyOne Commodity to Specialty Transformation 2000-20052000-2005 2006 - 20092006 - 2009 2010 – 20152010 – 2015 2016 and beyond 2016 and beyond • Steve Newlin appointed, Chairman, • Steve Newlin appointed, Chairman, • Substantial EPS growth from $0.13 to all-time high of $1.96 • Substantial EPS growth from $0.13 to all-time high of $1.96 • Deliver consistent double digit annual EPS growth • Deliver consistent double digit annual EPS growth • Volume driven, commodity producer • Volume driven, commodity producer pp , , President and CEO • New leadership team appointed pp , , President and CEO • New leadership team appointed • Shift to faster growing, high margin, less • Key acquisitions propel • Shift to faster growing, high margin, less • Key acquisitions propel • Maintain >35% vitality index • Pursue strategic i iti th t • Maintain >35% vitality index • Pursue strategic i iti th t • Heavily tied to • Heavily tied to cyclical end markets • Implementation of four pillar strategy • Implementation of four pillar strategy y q p p current and future growth, as well as margin expansion • Specialty mix expands y q p p current and future growth, as well as margin expansion • Specialty mix expands acquisitions that expand specialty offerings and geographic breadth acquisitions that expand specialty offerings and geographic breadth • Performance largely dependent on non- controlling joint ventures • Performance largely dependent on non- controlling joint ventures • Focus on value based selling, investment in commercial resources and innovation to drive transformation • Focus on value based selling, investment in commercial resources and innovation to drive transformation to 65% of Operating Income – strongest mix of earnings in history to 65% of Operating Income – strongest mix of earnings in history • Invest and grow current and next generation talent • Invest and grow current and next generation talent PolyOne Corporation Page 4 Confirmation of Our Strategy SpecializationSpecialization GlobalizationGlobalization Associates Operational Operational Commercial Commercial Th W ld’ P i P id f S i li d PolyOne Corporation Page 5 The World’s Premier Provider of Specialized Polymer Materials, Services and Solutions 27 Consecutive Quarters of EPS Growth PolyOne Corporation Page 6 PolyOne At A Glance 2015 Revenues: $3.4 Billion2015 Revenues: $3.4 Billion 2015 Revenues: $3.4 Billion2015 Revenues: $3.4 Billion 7% PP&S Distribution 29% CAI 23% SEM %DSS End MarketsEnd Markets Adjusted EPSAdjusted EPS 66% 15%DSS End MarketsEnd Markets $1.31 $1.80 Adjusted EPSAdjusted EPS Textiles $1.96 $0 27 $0 21 $0.68 $0.82 $1.00 $1.31 Building & C PolyOne Corporation Page 7 $0.12 $0.27 $0.21 $0.13 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 10%Electrical & Mix Shift Highlights Specialty Transformation Old PolyOne Transformation 2020 80% nc om e* pe ra tin g In 80%+ 43% 65% % o f O 2%0% 2005 2010 2015 2020 Specialty OI $5M $87M $229M Platinum PolyOne Corporation Page 8 *Operating Income excludes corporate charges and special items JV's Performance Products & Solutions Distribution Specialty Color and Engineered Materials at the Heart of Specialty Transformation OPERATING MARGIN 16.7% 17.5% 20%+ COLOR, ADDITIVES AND INKS 15 8% 20%+ SPECIALTY ENGINEERED MATERIALS 12.2% 9.6% 9.3% 12.1% 15.8% 1 7% 4.6% 5.1% 5.5% 7.2% 8.1% 3.4% 5.1% 8.0% 8.6% 1.1% 1.3% YTD YTD PolyOne Corporation Page 9 Proof of Performance & 2020 Goals 2006 2Q 2016 2020 “Where we were” “Where we are” Platinum Vision 1) Operating Income %1) Operating Income % Specialty: Color, Additives & Inks 1.7% 18.0% 20%+ S i lt E i d M t i l 1 1% 14 9% 20%+Specialty Engineered Materials 1.1% 14.9% 20%+ Designed Structures & Solutions N/A 1.7% (TTM) 8 – 10% Performance Products & Solutions 5.5% 12.3% 12 – 14% Distribution 2.6% 6.5% 6.5 – 7.5% 2) Specialty Platform % of Operating Income 6.0% 61% 80%+ 3) ROIC* 5.0% 12.0% 15% 4) Adjusted EPS Growth N/A 11% Double Digit PolyOne Corporation Page 10 ) j % Expansion *ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period TPE’s & Film Therma-Tech™ & Sheet GEON™ Vinyl TPE + OnForce™ Gravi-Tech™ Polymer ColorantsTherma-Tech™ Film PolyOne Corporation Page 11Page 11 Target End Markets… Healthcare OnForce TPE + OnForce TPE Vibration Dampening (SEM/GLS) Source: Outdoor Industry Association TPE & Film (SEM + DSS) Thermoplastic Elastomers TPE O F Polymer Colorants (CAI) Thermatech TPE + OnForce OnForce Thermoplastic Elastomers Sheet (DSS) Polymer Colorants (CAI) PolyOne Corporation Page 12 Target End Markets… Outdoor High Performance Sound & Vibration Management Roof Systems Management Interior & Exterior Trim Interior Structural Components Fuel Handling Underhood Components g SystemsAir management Electronics & Cameras Structural Braces & Brackets Lighting Fluid Handling PolyOne Corporation Page 13 Target End Markets… Automotive ColorMatrix™ Amosorb™ ColorMatrix™ Ultimate™ UV Oxygen Scavenger Ultimate UV Light Barrier PreservaPak™ OnColor™ Smart Batch™ OnCap™ Laser Marking Additives VersaFlex™ TPE Cap Liner PolyOne Corporation Page 14 Target End Markets… Packaging Innovation Drives Earnings Growth $53 Research & Development Spending ($ millions) Specialty Platform Vitality Index Progression* 34% CAI & SEM Gross Margin Target ≥ 35% $20 $53 43% *Specialty Platform revenue from products introduced in last five years 2006 2015 2006 20152006 2015 Innovation Pipeline PotentialInnovation Pipeline Potential PolyOne Corporation Page 15 Ours is Not a Cost Cutting Story VolumeCommercial, R&D Adjusted 2,883 Volume (lbs in millions) $192 Commercial, R&D and Marketing Spending ($M) $721 Adjusted Gross Profit ($M) -16% +86% +138% 2,414$103 $303 2006 20152006 2015 2006 2015 PolyOne Corporation Page 16 Design and Service as a Differentiator Right Material & Color Desired Product Design Appropriate Manufacturing Process Connecting Delivering Concept to Commercialization Connecting the Dots with iQ Design Labs and InVisiO Color Design PolyOne Corporation Page 17 CommercializationInVisiO Color Design Customer First Through World-Class Service Strengthening relationships through: Providing LSS services to small/medium sized customers Providing training in Customer Centric Selling Skills with customers On-Time Delivery Commitment to Operational Excellence World’s Best Business Process Excellence Program in 2012* World’s Best Start-up program for Lean Six Sigma Deployment in 2009* 81% 93% 2006 2015 Working Capital % of Sales 16.2% 52% of associates trained in LSS PolyOne Corporation Page 18 2006 2015 Five consecutive years – CFO Magazine Best Working Capital Management in the chemical industry Debt Maturities & Pension Funding 102% Pension Funding** As of 2016年6月30日 $700 $800 Debt Maturities As of 2016年6月30日 ($ millions) 80% 90% $547 $600 $600 $700 70% $500 50% $300 $400 30% 2008 2Q 2016 $200 2022 2023 Coupon Rate: LIBOR + 2 75% 5 250% PolyOne Corporation Page 19 Net Debt / Adjusted EBITDA*= 2.3x ** includes US-qualified pension plans only*TTM 6/30/2016 Coupon Rate: LIBOR + 2.75% 5.250% (3.50%) Free Cash Flow and Strong Balance Sheet Fund Investment / Shareholder Return Expanding our sales, marketing, and technical capabilities Investing in operational Repurchased 17.3 million shares since early 2013 10 0 million shares are Investing in operational and LSS initiatives ~75% of capital expenditures fund growth initiatives Organic Gro th Share Rep rchases 10.0 million shares are available for repurchase under the current authorization Growth Repurchases Acquisitions Dividends Annual Dividend Targets that expand our: • Specialty offerings • End market $0.32 $0.40 $0.48 $0.30 $0.40 $0.50 • End market presence • Geographic breadth Synergy opportunities Adjacent material $0.24 PolyOne Corporation Page 20 $0.16 $ $0.10 2011 2012 2013 2014 2015 2016 solutions Why Invest In PolyOne?