MRC Global Inc (MRC) 2023年年度报告「NYSE」.pdf

1、2023 Annual Reportthan everthan ever1“In 2023,MRC Global once again delivered highly-valued services to our diversified base of energy and industrial customers,while expanding our presence in key markets.Revenue grew for a third straight year to eclipse$3.4 billion.Activity levels declined in the se

2、cond half of 2023 due to the effects of higher interest rates,increased construction costs and inventory destocking by certain of our customers.Despite these headwinds,we achieved strong profit margins and generated significant cash from operations.As we begin 2024,our companys net debt is at its lo

3、west level as a public company,and we maintain ample liquidity on our balance sheet.Our foundation for future success remains solid,and we are stronger than ever.”Rob Saltiel,President&CEO2Revenue$3,412 millionGross Profit Margin%20.2%Adjusted Gross Profit Margin%21.5%Net Income$114 millionAdjusted

4、EBITDA$250 millionAdjusted EBITDA Margin%7.3%Net Working Capital/Revenue 15.5%Leverage Ratio 0.7xReturn on Invested Capital(ROIC),adjusted for LIFO 10.3%2023 HighlightsWe generated$181 million in operating cash during 2023,a key business objective,resulting in an 18%levered free cash flow yield.Our

5、working capital efficiency was the best it has ever been in our public company history,with a 15.5%net working capital to sales ratio,aiding our ability to generate cash.We achieved adjusted gross margins of 21.5%in 2023,the highest annual result in our public company history.It is also our second y

6、ear with adjusted gross margins over 21%,a notable transformation over historical levels.With an annual adjusted EBITDA percentage of 7.3%,2023 also marked the second year of adjusted EBITDA percentage above 7%,a milestone achievement as we continue to improve profitability.This is also our second y