2003 Annual Report - Enerflex

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Eric AllisonSenior Project Manager, International ProjectsPressonENERFLEX SYSTEMS LTD.4700 47 Street SE Calgary AB Canada T2B 3R1 Tel: 1.403.236.6800 Fax: 1.403.236.6816Printed in Canada
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2003 Annual Report14 Divisions.1900
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The Gen III A Series Gas Compressor
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divisionsat a glanceStructurally, E
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Today’s oil and gas producers are
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financialhighlightsMichiel SapServi
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People!Talented people.Skilled peop
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Enerflex is not just about numbers
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Enerflex operates in a very competi
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Enerflex Systems Ltd. is a leading
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Operating StructureEnerflex has six
Page 23 and 24: POWERThe Power operating unit desig
Page 25 and 26: Gas Drive Systems will continue to
Page 27 and 28: • Syntech’s Northwest region in
Page 29 and 30: Today’s oil and gas producers are
Page 31 and 32: By working together, the Enerflex g
Page 33 and 34: 2930
Page 35 and 36: Management’sDiscussion &AnalysisD
Page 37 and 38: 2003 revenue$515.5 million2002 reve
Page 39 and 40: In the last half of 2003, both indu
Page 41 and 42: Compression Services (formerly know
Page 43 and 44: maintaining a branch infrastructure
Page 45 and 46: LeasingOur Leasing business segment
Page 47 and 48: In the first half of 2002 the Compa
Page 49 and 50: Enerflex is a market leader in Cana
Page 51 and 52: InternationalInternationally, we fa
Page 53 and 54: management’s responsibilityfor fi
Page 55 and 56: consolidated balance sheetsDecember
Page 57 and 58: consolidated statements of cash flo
Page 59 and 60: Income Taxes - The Company uses the
Page 61 and 62: Note 5. PROPERTY, PLANT AND EQUIPME
Page 63 and 64: Note 9. RECONCILIATIONS OF NET INCO
Page 65 and 66: Note 12. GUARANTEES, COMMITMENTS AN
Page 67 and 68: Fair Values of Financial Assets and
Page 69 and 70: TEN-YEAR HISTORICAL REVIEW($ millio
Page 71 and 72: corporate directoryDirectors and Of
Page 73: EnerflexTom ThulShop SupervisorComp
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2003 Annual Report - Enerflex

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