V2X, Inc. (VVX) 2018年年度报告「NYSE」.pdf

1、VECTRUS,INC.2018 ANNUAL REPORTletter to shareholdersIn 2018,Vectrus validated the strategy we put in place early in 2017 to transform the Company into a higher value,differentiated,growth-oriented platform that converges technology with infrastructure.Our growth-related activities significantly rais

2、ed our competitiveness for Department of Defenseprograms by offering customer-specific solutions and exemplary service delivery.This success yieldedsignificant new business wins and expanded our scope of existing work,and we ended the yearwith$1.4 billion of contract bookings and$3 billion of total

3、backlog1.Id like to thank our team ofapproximately 6,700 global employees for their dedication and execution and our clients for their continued confidence in and reliance on our business to support their missions.In 2018,we reached records in revenue,operating margin,adjusted diluted earnings per s

4、hare(EPS2)andoperating cash flow.Revenue for 2018 increased 15%compared to 2017 and we continued to expand ourmargin profile and increased EBITDA margin3by 30 basis points.A major,positive financial attribute of Vectrus is our ability to generate strong,predictable cash flow,and in 2018,our teams em

5、phasis on cashgeneration grew net cash from operations 13%year-over-year,which represents 114%cash conversion ofnet income.We deployed this strong cash flow to complete the acquisition of SENTEL Corporation,which provided new logistics and supply chain management,engineering and advanced technology

6、capabilities and established a Vectrus foothold in the intelligence community.We also used our cash flow to further reduce our leverage profile and ended 2018 in a strong financial position with only$9 million in net debt,affording us the flexibility to supportour long-term strategy.As I mentioned,a