World Fuel Services 2011 Annual Report Download - page 15

Download and view the complete annual report

Please find page 15 of the 2011 World Fuel Services annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 118

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118

Fueling Land Relationships
Volume of Fuel Sold
Volume in Millions (Gallons)
2009 2010 2011
628
1,224
2,428
World Fuel Services (WFS) supplies the land transportation
industry in the United States, Brazil, and the United
Kingdom with refined petroleum products, alternative fuels
and related services. Through 800 distribution locations,
WFS provides more than 2 billion gallons of fuel
products annually to wholesale, retail, commercial and
government customers.
Building on a record year in 2010, our land segment
exceeded expectations in 2011, posting records in volume,
gross profit and operating income. WFS leveraged the
competencies and talents of recent acquisitions, including
Western Petroleum and Lakeside Oil to help drive results,
and advance our scalable growth model.
The land team sought to bring more value to existing
relationships with suppliers and customers by expanding
offerings for unbranded distributors, branded dealers and
the commercial, industrial and agricultural markets. As
we continue to evolve our distribution businesses with a
sophisticated and integrated model, we simultaneously
increase our value as a secure, competitive marketer for
our suppliers.
Through recent acquisitions, we enhanced our product
offerings to include lubricants, biodiesel, ethanol and
propane. The segment also began operations in crude-oil
distribution leveraging railcar logistics, and expanded our
bulk supply and price risk management offerings. These
strategic moves add capabilities and take advantage of
significant opportunities to diversify and strengthen our
market position.
In 2012, we look to continue our strategic expansion and
utilize our core competencies to take advantage of the
wealth of growth opportunities in this segment.
11