- World Fuel Services for a long period of time was a bolt-on acquisition machine, creating significant value for investors.
- This stopped a few years ago, as deals were no longer contributing in a way as they did in the past, and volume development and margins were starting to lag.
- Current volatility and the recent performance improvement look compelling with shares down a great deal.
- Even in a dismal second quarter, the company is actually breaking even, very promising as the latest divestment leaves the balance sheet unleveraged.
For further details see:
World Fuel Services: Some Thoughts After Becoming An Unleveraged Business