World Kinect Corp - Company Profile
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Business Description
World Kinect Corp (WKC), formerly known as World Fuel Services Corp, offers downstream marketing services. The company's services portfolio includes fuel management, oil and energy procurement, energy management, LNG supply management, turnkey fuel logistics, storage and consulting, inventory management, operation support, and price risk management. The company operates through three reportable business segments: Aviation; Land; and Marine. In FY2023, the company's capital expenditure stood at US$87.6 million and grew 11.5% YoY.
Business Segments
Overview
Provides global aviation fuel supply and comprehensive service solutions. Major services include price risk management, fuel management, ground handling, 24/7 global dispatch services, and international trip planning services such as flight plans, weather reports and overflight permits. Its key customers include commercial airlines, second and third-tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed-based operators, corporate fleets, fractional operators and private aircraft. Also serves U.S. and foreign government and military customers, such as the North Atlantic Treaty Organization and the U.S. Defense Logistics Agency. In FY2023, the segment incurred a capital expenditure of US$25.3 million which declined 2.3% YoY.
Performance
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Overview
It offers fuel, heating oil, propane, natural gas, lubricants, renewable diesel and natural gas, biodiesel and related products and services. The major services include management services for the procurement of fuel and price risk management. It provides advisory, brokerage and fulfillment solutions with respect to power, natural gas and other energy products; also provides sustainability consulting, renewable fuel products, and carbon management and renewable energy solutions. It services include transaction management services, which include government payment systems for global fuel procurement, merchant processing services, payment solutions for tolls across Europe and commercial payment programs. It’s key customers include petroleum distributors operating in the land transportation market, retail petroleum operators, and industrial, commercial, residential and government customers. In FY2023, the segment incurred a capital expenditure of US$42.5 million which grew 11.5% YoY.
Performance
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Overview
Offers market fuel, lubricants and related products and services to various marine customers such as international container and tanker fleets, yachts and time-charter operators, commercial cruise lines, U.S. and foreign governments and other fuel suppliers. Major services include management services for the procurement of fuel, quality control, cost control and claims management. Also has contracts with third parties to provide various services including fueling of vessels in ports and at sea and transportation and delivery of fuel and fuel-related products. In FY2023, the segment incurred a capital expenditure of US$8.7 million which grew 81.3% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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