Total Energy Services Inc. (TOT) 2014年年度报告「TSX」.pdf

1、FOCUS DISCIPLINE GROW THAnnual Report 20142014T O TA L E N E R G Y S E RV I C E S I N C.MANAGEMENTS DISCUSSION AND ANALYSISreport to shareholders 2managements discussion and analysis 5managements responsibility for financial statements 24independent auditors report 25consolidated financial statement

2、s 26notes to consolidated financial statements 30corporate information 57Total Energy Services Inc.(“Total Energy”or the“Company”)is a growth oriented energy services company based in Calgary,Alberta.Through various operating divisions and wholly-owned subsidiaries and partnerships,Total Energy is i

3、nvolved in three businesses:contract drilling services,rentals and transportation services and the fabrication,sale,rental and servicing of new and used natural gas compression and process equipment.Together these businesses provide a platform for building long-term shareholder value.Total Energy ha

4、s achieved its growth by maintaining a disciplined acquisition strategy and undertaking strategic internal growth.The shares of Total Energy are listed and trade on the Toronto Stock Exchange under the symbol TOT.T O TA L E N E R G Y S E RV I C E S I N C.FINANCIAL HIGHLIGHTS307.7339.6224.5332.147.73

5、7.332.969.3REVENUES(in millions of dollars)NET INCOME(in millions of dollars)CASHFLOW(1)(in millions of dollars)RETURN ONAVERAGE EQUITY(2)111210131411121013141112101314111210131491.960.471.5120.816%18%12%428.153.3108.415%29%(1)Cashflow means cash provided by operations before changes in non-cash wor

6、king capital items.(2)Return on average equity is calculated as follows:Net income divided by(opening Shareholders equity plus ending Shareholders equity divided by two).1F O C U S D I S C I P L I N E G R OW T HT O TA L E N E R G Y S E RV I C E S I N C.REPORT TO SHAREHOLDERS2014 began with optimism