World Fuel Services 2005 Annual Report Download - page 7

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validation of strategy. Over the past four
years we have worked to reposition the
company in the market, refine our value-
proposition and invest in people, process
and systems to drive the outcome.
The result of this effort has been
transformative.
As an asset-light provider of fuel and
related services, logistics and credit
finance, we have benefited from increased
demand for our offering from customers
and suppliers alike. Our customers rely on
World Fuel to be a strong, transparent
counterparty with deep domain expertise
in the world’s volatile markets. We help
them manage their exposure to volatile
fuel prices and operational risk while
reducing their overall operating costs. Our
supply partners rely on us to market their
products, de-risk their portfolios and
rationalize their back-office processing.
Our global volume has helped us achieve
a certain degree of critical mass and
benefit from our intense focus on global
supply. We have created a strong platform
for continued growth in 2006 and see
opportunity to expand our offering in
every part of our business.
We would like to thank our shareholders
for their tremendous support. Our
financial strength, global footprint and
powerful business model provide a
distinct competitive advantage in the
market and represents the key to continued
value creation in the future.
Very truly yours,
Paul H. Stebbins
Chairman and Chief Executive Officer
Michael J. Kasbar
President and Chief Operating Officer
2005 World Fuel Services Annual Report page 3
MARINE
2005
2004
2003
Revenue
$4,467.7
$3,031.5
$1,644.6
2005
2004
2003
Income from Operations
$35.4
$23.3
$18.5
($ in millions)
AVIATION
2005
2004
2003
Revenue
$4,266.3
$2,622.9
$1,027.0
2005
2004
2003
Income from Operations
$40.8
$29.3
$22.1
($ in millions)