In a year characterised by ongoing economic turmoil and
uncertainty, Acergy has continued to perform strongly.
We have developed a well deserved reputation for delivering
consistently successful execution of complex and technically
challenging projects, based on the quality of our assets, the
calibre of our people, the quality of our engineering skill base
and the proficiency of our project management. This makes for
strong and lasting client relationships. Our major clients
continue to tell us that they need strong partners, both
technically and financially, particularly in today’s challenging
Revenue – continuing operations
Revenue from continuing operations for the fiscal year ended
Backlog – continuing operations
Backlog from continuing operations as at November 30,
excluding backlog relating to discontinued operations or
associates and joint ventures.
In a challenging business environment Acergy has steered a course
that has delivered a strong performance, capitalised on
opportunities and ensured we are well placed for future profitable
A challenging year
Acergy entered the year against a backdrop of economic turmoil
and uncertainty unprecedented in recent years. The economic
downturn that characterised 2008 remained evident through 2009.
The global credit crisis continued, commodity prices remained
volatile and the impact of economic slowdown created challenging
conditions affecting businesses and consumers worldwide.
The combination of these macro economic concerns and oil price
weakness dented market confidence which, together with the credit
crunch, put pressure on our clients’ short and medium-term capital