World Kinect Corp 2024年度报告
AI智能总结
From our Chairman and CEOMichael Kasbar To our valued shareholders: I would like to thank you for your continued investment in World Kinect. In 2024, our focus on capital allocation and driving efficiencies allowedus to make solid progress toward our strategic and operational objectivesthat we shared in the beginning of the year. During 2024, we divested two non-core businesses that no longer aligned withour strategic goals. In May, we sold our Avinode business and created value beyond what could have beenachieved by the business remaining in our portfolio. In December, we sold our Brazil business, which hadbeen a source of significant earnings volatility and was increasingly disadvantaged by unfavorable local andinternational conditions. We also completed an aviation acquisition that expanded our bulk fuel distribution network by adding nearly300 customers, including 100 FBO locations. Our market-leading business aviation distribution platformis bringing additional supply and solution capabilities to these locations as well as outstanding customerservice and comprehensive operational support. This transaction demonstrates the type of strategicinvestment that can enhance our ability to scale, improve our service capabilities, and strengthen thefoundation of our long-term growth. Our board of directors and our management team regularly evaluate our capital allocation strategy andremain committed to generating long-term value for our shareholders, with a view to maintaining ourbalanced capital allocation framework. Thanks to our strong cash flow generation and solid balance sheet,we returned $139 million to shareholders through share repurchases and dividends in 2024 — a 47%increase from the prior year. This includes a 21% increase in our regular quarterly dividend, from $0.14 to$0.17 per share. Looking forward, we remain focused on delivering exceptional value to our customers, and to ourshareholders, we remain focused on delivering value in a disciplined and sustainable way. Thank you foryour continued support. Michael KasbarChairman and Chief Executive Officer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
