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WORLD FUEL SERVICES CORPORATION

(INT)
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World Fuel Services Supplies Sustainable Aviation Fuel to RAF Brize Norton in support of the Autumn Royal Tour

12/20/2021 | 10:34am EDT

MIAMI - World Fuel Services Corporation (World Fuel) (NYSE: INT) announced today that it has supplied Sustainable Aviation Fuel to Royal Air Force Brize Norton in support of their Royal Highnesses, The Prince of Wales and The Duchess of Cornwall as they embarked upon the first leg of their Autumn Royal Tour.

This flight is one of the many activities that World Fuel and Neste have taken to support the development of SAF, including working with the Jet Zero Council, the SAF delivery group, COP26 sub-group to support the supply of SAF at various airports in the United Kingdom (UK) during this global climate event.

'World Fuel is proud to support RAF Brize Norton in demonstrating the capability of SAF by supplying one of the UK's official planes. We applaud the actions taken by the RAF to include SAF in its plans today and in the future as it raises global awareness of aviation's progress in sustainability,' said Michael J. Kasbar, chairman and chief executive officer, World Fuel Services. 'We are a long-time supporter of the wider adoption of lower-carbon fuels such as SAF, which we believe will serve to accelerate the aviation industry's ability to achieve net zero goals.'

Neste's market-leading SAF is fully certified for use and produced from 100% renewable and sustainable waste and residue raw materials, such as used cooking oil and animal fat waste. In its neat form and over its life cycle, Neste MY Sustainable Aviation Fuel can achieve a reduction of up to 80% of greenhouse gas emissions compared to fossil jet fuel use.

'Neste is committed to helping aviation with its emission reduction targets,' said Jonathan Wood, Neste's vice president of Europe, Renewable Aviation. 'We're delighted to see the RAF using our sustainable aviation fuel as it emphasizes that SAF will play a key role in long-term reduction in net emissions and climate change effects from aviation. Neste is investing to increase supply to 1.5m tonnes per annum by 2023, and we look forward to governments putting in place supportive policies to promote the use of sustainable aviation fuel.'

World Fuel is one of the first companies to have blended SAF in the UK. Since 2015, World Fuel has delivered more than 27 million gallons of SAF to business and commercial aviation customers. Earlier this year, World Fuel expanded its global supply chain in SAF by providing Farnborough Airport (EGLF/FAB) in Hampshire, UK, with a supply of SAF from Neste's European refinery.

As a member of the Business Aviation Coalition for Sustainable Aviation Fuel, World Fuel supports the industry's goal to reduce carbon emissions. The company continues to invest in creating innovative solutions and expanding its renewable and lower-carbon fuel and energy offerings to support customers in reducing their carbon emissions and achieving their sustainability goals.

About World Fuel Services

Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers worldwide. World Fuel Services sells and delivers liquid fuels, natural gas, electricity, renewable energy, and other sustainability solutions to its clients at more than 8,000 locations in more than 200 countries and territories through its Marine, Aviation, and World Kinect Energy Services divisions.

Contact:

Ira M. Birns

Tel: +1 305-351-4763

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 59 232 M - -
Net income 2022 123 M - -
Net Debt 2022 - - -
P/E ratio 2022 11,9x
Yield 2022 2,05%
Capitalization 1 451 M 1 451 M -
Capi. / Sales 2022 0,02x
Capi. / Sales 2023 0,03x
Nbr of Employees 4 414
Free-Float 96,6%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 23,44 $
Average target price 33,50 $
Spread / Average Target 42,9%
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Managers and Directors
Michael J. Kasbar Chairman, President & Chief Executive Officer
Ira M. Birns Chief Financial Officer & Executive Vice President
Massoud Sedigh Chief Information Officer & Senior Vice President
Jeffrey P. Smith Chief Operating Officer & Executive Vice President
Richard A. Kassar Independent Director
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