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1、2022Annual ReportDear Stockholders,I am pleased to report that 2022 marked another great year for ABM,highlighted by very strong revenue growth and meaningful progress on our ELEVATE initiatives as we work to position our Company for long-term sustainable success.What made the year even more gratify
2、ing was that our results were achieved against a macroeconomic backdrop of one the most challenging labor markets in history.Our growth and achievements in 2022 are truly a testament to the dedication of our over 100,000 team members,who remain focused on providing a great experience for our clients
3、,delivering results for our stockholders,and advancing our culture and commitments to safety and operating responsibly for the people and world around us.In fiscal 2022 we grew revenue 25%to$7.8 billion,including organic growth of 7%and 18%growth from acquisitions.Net Income also grew substantially
4、in 2022,to$230.4 million and our adjusted EBITDA*was up over 9%to$498.1 million.Adjusted EBITDA*margin,which is a key performance indicator for ABM,was 6.6%and in line with our expectations,primarily reflecting a significantly lower volume of EnhancedClean services and higher labor-related costs,whi
5、ch were partially offset with cost containment activities and price escalations.It should be noted that our 2022 Adjusted EBIDTA margin,although lower than 2021,was significantly higher than our margin prior to the pandemic,and represents sustainable labor efficiencies,a stronger customer mix,and op
6、erational improvements achieved during the early days of our ELEVATE program.2022 also marked the 56th consecutive year in which our Board of Directors raised our common stock dividend.In fact,our Board raised our quarterly dividend 12.8%at the end of 2022,which represents the first step of ABMs pla