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Industrial Manufacturing and Technology Conference – MRC Global Inc.

MRC Global Inc. · Sep 1, 2015 · 27 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 1
    1 Longbow Research Industrial Manufacturing & Technology Conference September 1, 2015 Jim Braun Executive Vice President & CFO TM
  2. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 2
    3 Company Snapshot By the Numbers Industry Sectors Product Categories Upstream Line Pipe & OCTG TTM Sales 5.621B TTM Adjusted EBITDA 384M Employees 4,500 Projects 28% Locations 400+ Midstream Valves Countries…
  3. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 3
    4 Revenue by Industry Sector Downstream 26% MRO, recurring, turnaround work Large installed base of refineries & petrochemical facilities Weighted to customers operating budgets v. new construction capital projects Gas…
  4. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 4
    5 Revenue by Geography and Product Line By Geography By Product Line Gulf Coast 28% Valves 32% Western 25% Fittings & Flanges 21% Eastern 24% Line Pipe 20% General Oilfield Asia / Europe 14% 19% Products Canada 9% OCTG…
  5. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 5
    6 Long-Term Supplier & Customer Relationships SUPPLIERS IOCs CUSTOMERS Energy Carbon Steel Downstream Tubular Products Marathon JMC DOW DuPont CSI Tubular Petroleum Wheatland Chevron Phillips TMK- U.S. Phillips 66 Valero…
  6. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 6
    7 MRC Global is a Leading Provider of Integrated Supply Services to the Energy Industry Integrated Supply Statistics Supplying Integrated Supply services since 1988 Accounts for sales in excess of 830 million and growing…
  7. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 7
    8 Long Term Growth Strategy Greater Scale for Better Returns Strategic Objectives Execute Global Preferred Supplier Contracts Targeted Growth Account Continue to grow share with the next 75 Focus on multi-year Top 25 MRO…
  8. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 8
    9 Product Mix Shift from 2008 to 2015 Stable, higher margin valves are a larger percentage of revenue. More volatile carbon pipe is a smaller percentage of revenue. The prices of higher margin products are more stable. 2008…
  9. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 9
    10 Building an International Platform for Growth International Segment Revenue 873 ( millions) 567 554 330 256 52 0 2008 2009 2010 2011 2012 2013 2014 Estimated Percentage of PVF Spend1 MRC Gas MRC Global Chemical…
  10. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 10
    11 Strategic Expansion into Offshore Production Platform MRO Top 4 largest offshore markets 140 billion E&P spend Norway is the largest we are positioned in 4 of the 5 largest offshore markets. MRC Global revenue mix Pre Stream…
  11. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 11
    12 Financial Overview
  12. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 12
    13 Financial Metrics ( millions, except per share data) Sales Adjusted Gross Profit and % Margin 5,933 1,120 5,571 5,231 1,058 1,009 4,832 850 3,846 663 2,803 2,490 538 452 17.2% 17.6% 19.0% 19.3% 18.9% 19.2% 18.1%…
  13. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 13
    14 Balance Sheet Metrics ( millions) Total Debt Capital Structure June 30, 2015 1,527 Cash and Cash Equivalents 33 1,360 1,454 1,257 Total Debt (including current portion): 987 Term Loan B due 2019, net of discount 527 680 -…
  14. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 14
    15 Current 2015 Guidance Revenue Quarter: Q3 sequentially lower by 7-12% Annual: 2015 expected to be 20-25% lower than 2014 Upstream upper 30% decline Midstream high single digit decline Downstream mid single digit decline…
  15. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 15
    16 Investment Thesis Highlights Macro drivers MRC Global attributes Growth in global energy consumption Market leader driving investment Exposed to all sectors of global energy Increased global production Long term global…
  16. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 16
    17 Appendix
  17. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 17
    18 MRC Global // North America Canada Western Eastern Corporate Headquarters Branch Locations Regional Distribution Centers Valve Automation Centers Gulf Coast
  18. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 18
    19 Global Footprint to Serve Customers - North America Munster, IN Nisku, AB By the Numbers As of 6/30/2015 Branches 160+ RDCs 10 VACs 14 Cheyenne, WY Pittsburgh, PA Employees 3,200 Odessa, TX Nitro, WV…
  19. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 19
    20 Global Footprint to Serve Customers - Europe Stavanger, NO Bradford, UK Rotterdam, NL By the Numbers As of 6/30/2015 Branches 34 RDCs 3 VACs 13 Branch Locations Countries 9 Regional Distribution Centers…
  20. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 20
    21 Global Footprint to Serve Customers - Asia Pacific & Middle East Dubai, UAE Singapore Perth, WA By the Numbers As of 6/30/2015 Branches 28 RDCs 4 Brisbane, QLD VACs 7 Countries 11 Branch Locations Regional…
  21. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 21
    22 M&A - Track Record of Strategic Acquisitions Acquisition Priorities International branch platform for super majors E&P spend Branch platforms/infrastructure for North American shale plays Global valve and valve automation…
  22. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 22
    23 Upstream
  23. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 23
    24 Midstream
  24. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 24
    25 Downstream
  25. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 25
    26 Performance Measures Sales per Employee1 Adjusted Gross Profit per Employee1 ( thousands) ( thousands) 1,234 1,255 1,181 1,054 238 223 1,043 217 203 180 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 SG&A / Sales…
  26. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 26
    27 Adjusted EBITDA Reconciliation Six months ended Year Ended December 31 June 30 ( millions) 2015 2014 2014 2013 2012 2011 2010 Net income available to shareholders 45.4 62.8 144.1 152.1 118.0 29.0 (51.8) Income tax expense 26.2…
  27. Industrial Manufacturing and Technology Conference – MRC Global Inc. – slide 27
    28 Adjusted Gross Profit Reconciliation Six months ended Year ended December 31 June 30 ( millions) 2015 2014 2014 2013 2012 2011 2010 Gross profit 425.9 491.6 1,018.1 954.8 1,013.7 708.2 518.1 Depreciation and amortization…

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