Slide 1: 2016 Fourth Quarter & Full Year Earnings Call
World Fuel Services Corporation 2016 Fourth Quarter & Full Year Earnings Call February 14, 2017 Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Caution Concerning Forward Looking Statements Certain statements made today, including comments about World Fuel's expectations regarding future plans, performance and acquisitions are forward- looking statements that are subject to a range of uncertainties and risks that could
Slide 3: Business Overview
Business Overview Michael Kasbar Chairman and Chief Executive Officer Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 4: Fourth Quarter and Full Year Overview
Fourth Quarter and Full Year Overview • Our aviation segment has remained resilient and we remained focused on organic business development throughout the course of 2016 o Our global aviation platform is a meaningful participant in every important dimension of commercial, business, general and milit
Slide 5: Financial Overview
Financial Overview Ira Birns Executive Vice President and Chief Financial Officer Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 6: Consolidated Revenue ($ in billions)
Consolidated Revenue ($ in billions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 7: Volume by Segment – Aviation
Volume by Segment – Aviation (gallons in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 8: Volume by Segment – Marine
Volume by Segment – Marine (metric tons in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 9: Volume by Segment – Land
Volume by Segment – Land (gallons in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 10: Consolidated Volume (gallons in billions)
Consolidated Volume (gallons in billions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 11: Fourth Quarter Non-Recurring Items
Fourth Quarter Non-Recurring Items ($ in millions) Aviation segment $ 3.9 Marine segment $ 3.9 Land segment $ 2.6 Non-operating expenses $ 7.5 Total non-recurring items $ 17.9 Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 12: Consolidated Gross Profit
Consolidated Gross Profit ($ in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 13: Gross Profit by Segment - Aviation
Gross Profit by Segment - Aviation ($ in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 14: Gross Profit by Segment - Marine
Gross Profit by Segment - Marine ($ in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 15: Gross Profit by Segment - Land
Gross Profit by Segment - Land ($ in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 16: Consolidated Operating Expenses (excluding bad debt provision)
Consolidated Operating Expenses (excluding bad debt provision) ($ in millions) Q1’17E: $177 – $181 $181 $157 Q4'15 Q4'16 Q1'17E Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 17: Consolidated Income From Operations
Consolidated Income From Operations ($ in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 18: Non-Operating Expense
Non-Operating Expense ($ in millions) Q1’17E: $12 – $15 $14.0 $7.0 Q4'15 Q4'16 Q1'17E Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 19: Effective Tax Rate
Effective Tax Rate Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 20: Adjusted Net Income
Adjusted Net Income ($ in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 21: Non-GAAP Net Income
Non-GAAP Net Income ($ in millions) Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 22: Adjusted Diluted Earnings Per Share
Adjusted Diluted Earnings Per Share Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 23: Non-GAAP Diluted Earnings Per Share
Non-GAAP Diluted Earnings Per Share Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.
Slide 24: Balance Sheet Management
Balance Sheet Management • Total accounts receivable was $2.3 billion at quarter end o Increase of $500 million compared to the fourth quarter of 2015 • Net working capital was approximately $1 billion o Net working capital increased principally due to higher fuel prices and increased volume • Used
Slide 25: 2017 Initiatives
2017 Initiatives • We remain focused on driving organic growth and integrating three large acquisitions (APP, PAPCO and ExxonMobil), which will drive incremental profits in 2017 and beyond • In addition to previously announced cost reductions, we have identified an additional $20 million of annualiz
Slide 26: Questions & Answers
Questions & Answers Copyright © 2016 World Fuel Services Corporation. Proprietary & Confidential. All Rights Reserved.