Investor Presentaiton
FUEL MARGINS HAVE MINIMAL CORRELATION TO FUEL PRICE
MARGINS ARE GROWING
US Road Transportation Fuel Margins (1)
17.0
21.7
22.9
18.8
18.1
20.2
18.6
•Growing margins, with some volatility in the US
•Minimal correlation between Fuel price and Margin
•Margins impacted by:
Competition
➤ Volatility
2012
2013
2014
2015
2016
2017
2018 Q2
YTD
➤ Inflation
Motor fuel margin (US cents per gallon)
Motor fuel price
➤ Regulatory requirements
U.S Fuel Margins(1)
WWW
Q1 2012
Cents per gallon
Canadian Fuel Margins(1)
Norwegian Fuel Margins(2)
نش کنند
Q2 2018 Q1 2012
Q2 2018
Q1 2013
Q2 2018
Trend
-Cents per litre
Trend
NOK per litre
Trend
Investor Day
Jan 2018
(1)
Company operated stores only
(2)
Total network
Couche-Tard
CIRCLE K
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