MRC Global Inc (MRC) 2019年年度报告「NYSE」.pdf

1、2 0 1 9 A N N U A L R E P O R TBuilt Strong.1After two years of growth,energy markets slowed in 2019.While the pullback prompted lower year-over-year revenue for MRC Global,we stayed the course by pursuing our goals,and our company is as solid as ever.We know that market cycles are inevitable.Weve s

2、een this before.Thats why we created a long-term strategy that is unwavering in both peaks and valleys and allows us to control our own destiny.MRC Global is built strong.2While many in our industry are forced to react dramatically to market conditions,MRC Global is solid and able to gain ground,bec

3、ause our strategy is built for long-term value.In the face of 2019s challenges,we were able to remove costs from the business,invest in infrastructure and technology for future growth and strengthen our customer base.Weve built our business for strength in any cycle.3Increase Market ShareMaximize Pr

4、ofitabilityMaximize Working Capital EfficiencyOptimize Capital StructureThe four tenets of our strategy are constant pillars of strength.The Houston Operations Complex is equipped with advanced automated conveyor systems,allowing us to ship approximately 148 tons per day to our customers.4While MRC

5、Global has served customers in the upstream and downstream sectors for a long time,we have built our business to buffer the volatility of oil prices.In 2019,we continued to strengthen our base of customers in the more stable gas utilities sector.MRC Global is the preferred supplier to 18 of the top

6、25 gas utilities in the United States,as we continue to expand this business.Weve built resilience against commodity price risks.5MRC Global has secured contracts with 18 of the top 25 largest gas utilities in the U.S.U.S.Gas Utility Revenue(millions)$5872013$61020142016$6312015$6942018$8492017$7482